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DERIVATIVE INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:
 
 
 
As of March 31, 2018
 
As of December 31, 2017
(Millions of Dollars)
Fair Value Hierarchy
 
Commodity Supply and Price Risk
Management
 
Netting (1)
 
Net Amount
Recorded as a Derivative
 
Commodity Supply and Price Risk
Management
 
Netting (1)
 
Net Amount
Recorded as
a Derivative
Current Derivative Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
$
8.5

 
$
(6.5
)
 
$
2.0

 
$
9.5

 
$
(7.1
)
 
$
2.4

Long-Term Derivative Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
CL&P
Level 3
 
80.2

 
(4.1
)
 
76.1

 
71.9

 
(5.3
)
 
66.6

Current Derivative Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Eversource
Level 2
 
(1.3
)
 
0.2

 
(1.1
)
 
(4.5
)
 
—

 
(4.5
)
CL&P
Level 3
 
(49.6
)
 
—

 
(49.6
)
 
(54.4
)
 
—

 
(54.4
)
Long-Term Derivative Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Eversource
Level 2
 
(0.4
)
 
—

 
(0.4
)
 
(0.4
)
 
—

 
(0.4
)
CL&P
Level 3
 
(415.0
)
 
—

 
(415.0
)
 
(376.9
)
 
—

 
(376.9
)

(1) 
Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.
Fair Value Inputs, Liabilities, Quantitative Information
The following is a summary of CL&P's Level 3 derivative contracts and the range of the significant unobservable inputs utilized in the valuations over the duration of the contracts:
 
As of March 31, 2018
 
As of December 31, 2017
CL&P
Range
 
Period Covered
 
Range
 
Period Covered
Capacity Prices
$
4.30

 
—
 
5.99

 
per kW-Month
 
2021 - 2026
 
$
5.00

 
—
 
8.70

 
per kW-Month
 
2021 - 2026
Forward Reserve
$
0.95

 
—
 
1.00

 
per kW-Month
 
2018 - 2024
 
$
1.00

 
—
 
2.00

 
per kW-Month
 
2018 - 2024
Rollforward Of Net Derivative Asset Liabilities Valued Using Unobservable Inputs
The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.
CL&P
For the Three Months Ended March 31,
(Millions of Dollars)
2018
 
2017
Derivatives, Net:
 
 
 
Fair Value as of Beginning of Period
$
(362.3
)
 
$
(420.5
)
Net Realized/Unrealized Losses Included in Regulatory Assets and Liabilities
(36.9
)
 
(14.6
)
Settlements
12.7

 
21.6

Fair Value as of End of Period
$
(386.5
)
 
$
(413.5
)