Investments

9 Months Ended

Sep. 30, 2013

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTS.

Available-for-Sale Investments.

We are entitled to collect in rates the amounts necessary to fund our asset retirement obligations (ARO). We deposit monthly, into an external trust account, the revenues specifically designated for ARO. We established the ARO trust account (ARO Trust) on June 30, 2008. The ARO Trust carries a moderate risk portfolio. We measure the financial instruments held in our ARO Trust at fair value. However, in accordance with the ASC Topic 980, Regulated Operations, both realized and unrealized gains and losses of the ARO Trust are recorded as regulatory assets or liabilities.

Effective March 1, 2013, based on the Docket No. RP12-993 rate filing, the annual funding obligation increased to approximately $50.4 million, with installments paid monthly. This amount is subject to change pursuant to the final resolution of the rate case.

Investments in available-for-sale securities within the ARO Trust at fair value were as follows (in millions):

	September 30, 2013				December 31, 2012
	Amortized Cost Basis		Fair Value		Amortized Cost Basis		Fair Value
Cash and Money Market Funds	$	6.3	$	6.3	$	1.3	$	1.3
U.S. Equity Funds	8.1		10.1		5.4		7.4
International Equity Funds	4.2		4.7		3.4		3.8
Municipal Bond Funds	9.7		9.8		4.9		5.3
Total	$	28.3	$	30.9	$	15.0	$	17.8