XML 51 R40.htm IDEA: XBRL DOCUMENT v3.23.2
REGULATORY ASSETS AND LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2023
Regulatory Assets and Liabilities Disclosure [Abstract]  
Schedule of regulatory assets
(in millions)June 30, 2023December 31, 2022
Regulatory assets
Pension and OPEB costs$698.8 $714.3 
Plant retirement related items667.2 688.6 
Environmental remediation costs582.7 610.7 
Income tax related items454.9 461.9 
Asset retirement obligations170.9 169.7 
Derivatives161.1 133.8 
System support resource118.3 123.5 
Securitization89.5 92.4 
Uncollectible expense84.0 69.3 
Bluewater (1)
34.9 20.9 
Energy efficiency programs26.6 33.9 
MERC extraordinary natural gas costs13.4 35.1 
Other, net145.2 152.8 
Total regulatory assets$3,247.5 $3,306.9 
Balance sheet presentation
Other current assets$8.6 $42.3 
Regulatory assets3,238.9 3,264.6 
Total regulatory assets$3,247.5 $3,306.9 

(1)Primarily related to costs associated with the long-term service agreements our Wisconsin utilities have with Bluewater for natural gas storage services. The PSCW has approved escrow accounting for these costs. As a result, our Wisconsin utilities defer as a regulatory asset or liability the difference between actual storage costs and those included in rates until recovery or refund is authorized in a future rate proceeding.
Schedule of regulatory liabilities
(in millions)June 30, 2023December 31, 2022
Regulatory liabilities
Income tax related items$1,934.0 $1,956.6 
Removal costs 1,292.7 1,260.9 
Pension and OPEB benefits331.6 340.5 
Energy costs refundable through rate adjustments (1)
106.1 53.4 
Derivatives40.6 76.7 
Uncollectible expense24.4 24.0 
Decoupling16.7 20.2 
Energy efficiency programs13.5 10.4 
Other, net60.8 49.2 
Total regulatory liabilities$3,820.4 $3,791.9 
Balance sheet presentation
Other current liabilities$107.5 $56.4 
Regulatory liabilities3,712.9 3,735.5 
Total regulatory liabilities$3,820.4 $3,791.9 

(1)The increase in these regulatory liabilities was primarily due to lower natural gas costs incurred during 2023, compared to what was anticipated in rates.