REGULATORY ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2023

Regulatory Assets and Liabilities Disclosure [Abstract]

Schedule of regulatory assets

(in millions)	September 30, 2023		December 31, 2022
Regulatory assets
Pension and OPEB costs	$	691.2	$	714.3
Plant retirement related items	657.0		688.6
Environmental remediation costs	577.7		610.7
Income tax related items	450.4		461.9
Asset retirement obligations	170.1		169.7
Derivatives	126.2		133.8
System support resource	115.9		123.5
Uncollectible expense	95.5		69.3
Securitization	87.5		92.4
Bluewater (1)	39.9		20.9
Energy costs recoverable through rate adjustments	35.5		26.9
Energy efficiency programs	25.3		33.9
MERC extraordinary natural gas costs	9.3		35.1
Other, net	131.4		125.9
Total regulatory assets	$	3,212.9	$	3,306.9
Balance sheet presentation
Other current assets	$	15.8	$	42.3
Regulatory assets	3,197.1		3,264.6
Total regulatory assets	$	3,212.9	$	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)	September 30, 2023		December 31, 2022
Regulatory liabilities
Income tax related items	$	1,916.8	$	1,956.6
Removal costs	1,308.2		1,260.9
Pension and OPEB benefits	327.2		340.5
Energy costs refundable through rate adjustments	84.3		53.4
Derivatives	33.9		76.7
Uncollectible expense	26.9		24.0
Electric transmission costs	21.0		0.4
Decoupling	14.9		20.2
Energy efficiency programs	8.1		10.4
Other, net	48.3		48.8
Total regulatory liabilities	$	3,789.6	$	3,791.9
Balance sheet presentation
Other current liabilities	$	69.6	$	56.4
Regulatory liabilities	3,720.0		3,735.5
Total regulatory liabilities	$	3,789.6	$	3,791.9