(8) Deferred Charges and Credits

Deferred Charges

Deferred charges, or regulatory assets, net of amortization, consisted of the following at December 31:


		2012		2011
Debt issuance and reacquisition costs	$	4,126,529	$	3,432,665
Refurbishment of transmission equipment		141,976		151,235
Feasibility Studies		76,390		351,727
Beluga Gas Compression		2,035,466		2,544,332
Cooper Lake Relicensing / projects		5,800,417		5,930,520
Fuel supply negotiations		815,451		1,118,439
Major overhaul of steam generating unit		1,510,046		2,265,069
Other regulatory deferred charges		4,473,037		2,126,335
Bond interest - market risk management		7,527,357		6,034,443
Environmental matters and other		1,205,574		1,250,925
Total deferred charges	$	27,712,243	$	25,205,690

Deferred charges, or regulatory assets, not currently being recovered in rates charged to consumers, consisted of the following at December 31:


		2012		2011
Fuel supply (negotiations/studies/compression)	$	1,072,002	$	0
Studies / Other		236,401		578,327
Wind project		391,285		144,866
Financing related costs		1,757,624		51,129
Beluga Unit 8 inspection		1,061,838		0
Total deferred charges	$	4,519,150	$	774,322

We believe all regulatory assets not currently being recovered in rates charged to consumers are probable of recovery in the future based upon prior recovery of similar costs allowed by our regulator. The recovery of regulatory assets is requested in SRF or general rate case rate adjustments filed with the RCA. In most cases, deferred charges are recovered over the life of the underlying asset.

(8) Deferred Charges and Credits (continued)

Deferred Credits

Deferred credits, or regulatory liabilities, at December 31 consisted of the following:


		2012		2011
Refundable consumer advances for construction	$	777,323	$	727,917
Estimated initial installation costs for meters		92,149		75,660
Post retirement benefit obligation		899,700		899,700
Total deferred costs	$	1,769,172	$	1,703,277