DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2021

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 December 31,
		2021						2020
(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	$	14.7	$	(1.0)	$	13.7	$	13.7	$	(0.4)	$	13.3
Long-Term Derivative Assets:
CL&P	Level 3	46.9		(0.9)		46.0		58.7		(1.8)		56.9
Current Derivative Liabilities:
CL&P	Level 3	(73.5)		—		(73.5)		(68.8)		—		(68.8)
Other	Level 2	—		—		—		(3.3)		0.1		(3.2)
Long-Term Derivative Liabilities:
CL&P	Level 3	(235.4)		—		(235.4)		(294.5)		—		(294.5)

(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 Level 3 derivative contracts and the range of the significant unobservable inputs utilized in the valuations over the duration of the contracts:

	As of December 31,
	2021								2020
CL&P	Range				Weighted Average (1)			Period Covered	Range				Weighted Average (1)			Period Covered
Capacity Prices	$2.61				$	2.61	per kW-Month	2025 - 2026	$	4.30	—	$5.30	$	4.63	per kW-Month	2024 - 2026
Forward Reserve	$	0.50	—	$1.15	$	0.82	per kW-Month	2022 - 2024	$	0.54	—	$0.90	$	0.72	per kW-Month	2021 - 2024

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

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 (Millions of Dollars)	For the Years Ended December 31,
	2021		2020
Derivatives, Net:
Fair Value as of Beginning of Period	$	(293.1)	$	(329.2)
Net Realized/Unrealized Losses Included in Regulatory Assets	(8.5)		(17.9)
Settlements	52.4		54.0
Fair Value as of End of Period	$	(249.2)	$	(293.1)