Derivative instruments: (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments

Schedule of volume activity of natural gas derivatives that is expected to settle or mature each year

The following table reflects the volume activity of our natural gas derivatives as of December 31, 2013 that is expected to settle or mature each year:

Year	Natural Gas Swaps (MMBTUs)
	(in millions)
2014	4.0
2015	0.7
Total	4.7

Schedule of remaining notional amount of forecasted debt issuances hedged in each year with LIBOR swaptions

The following table reflects the remaining notional amount of forecasted debt issuances we have hedged in each year with LIBOR swaptions as of December 31, 2013.

Year		LIBOR Swaption Notional Dollar Amount
		(in thousands)
2014	$	563,425
2015		470,625
2016		310,533
2017		80,169
Total	$	1,424,752

Schedule of fair value of derivative instruments and their effect on condensed balance sheets

	Balance Sheet Location		Fair Value
			2013		2012
			(dollars in thousands)
Not designated as hedge:
Assets
Interest rate options(1)	Other deferred charges	$	63,471	$	25,783
Natural gas swaps	Other current assets		1,011		–
Liabilities
Natural gas swaps	Other current liabilities	$	–	$	1,085

(1)

Excludes liability associated with cash collateral of $34,970,000 and $8,950,000 as of December 13, 2013 and December 31, 2012, respectively, which is recorded as an offset to the fair value of the swaptions on the consolidated balance sheets.

Schedule of the gross realized gains and (losses) on derivative instruments recognized in margin

	Consolidated Statement of Revenues and Expenses Location		2013			2012			2011
			(dollars in thousands)
Designated as hedge:
Natural Gas Swaps	Fuel	$	–		$	–		$	195
Natural Gas Swaps	Fuel		–			–			(4,151	)
		$	–		$	–		$	(3,956	)
Not designated as hedge:
Natural Gas Swaps	Fuel	$	739		$	2,338		$	–
Natural Gas Swaps	Fuel		(4,051	)		(10,483	)		–
		$	(3,312	)	$	(8,145	)	$	–

Schedule of gross unrealized gains and (losses) on derivative instruments deferred on the balance sheet

	Consolidated Balance Sheet Location		2013			2012			2011
Designated as hedge:
Natural Gas Swaps	Accounts receivable	$	–		$	–		$	(7,220	)
Not designated as hedge:
Natural Gas Swaps	Regulatory asset	$	–		$	(1,085	)	$	–
Natural Gas Swaps	Regulatory liability		1,011			–			–
Nuclear Decommissioning Trust	Regulatory asset		–			–			3,602
Nuclear Decommissioning Trust	Regulatory asset		–			–			(2,557	)
Interest Rate Options	Regulatory asset		(36,529	)		(74,217	)		(30,554	)
Total not designated as hedge		$	(35,518	)	$	(75,302	)	$	(29,509	)

Schedule of gross amounts of derivatives and their related offset amounts as permitted by their respective master netting agreements and obligation to return cash collateral

		(dollars in thousands)
		Gross Amounts of Recognized Assets (Liabilities)		Gross Amounts offset on the Balance Sheet			Cash Collateral			Net Amounts of Assets (Liabilities) Presented on the Balance Sheet
December 31, 2013
Assets:
Natural gas swaps	$	1,069	$	(58	)	$	–		$	1,011
Interest rate options	$	63,471	$	–		$	(34,970	)	$	28,501
December 31, 2012
Assets:
Interest rate options	$	25,783	$	–		$	(8,950	)	$	16,833
Liabilities:
Natural gas swaps	$	80	$	(1,165	)	$	–		$	(1,085	)