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Asset Retirement Obligations | 12 Months Ended
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Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract] |
ASSET RETIREMENT OBLIGATIONS | ASSET RETIREMENT OBLIGATIONS Our utilities have recorded AROs primarily for the removal of natural gas distribution mains and service pipes (including asbestos and PCBs); asbestos abatement at certain generation and substation facilities, office buildings, and service centers; the removal and dismantlement of a biomass generation facility; the dismantling of wind and solar generation projects; the disposal of PCB-contaminated transformers; the closure of CCR landfills at certain generation facilities; and the removal of above ground and underground storage tanks. Regulatory assets and liabilities are established by our utilities to record the differences between ongoing expense recognition under the ARO accounting rules and the ratemaking practices for retirement costs authorized by the applicable regulators. WECI has also recorded AROs for the dismantling of our non-utility renewable generation projects. The following table shows changes to our AROs during the years ended December 31:
(in millions) |  | 2024 |  | 2023 |  | 2022
Balance as of January 1 |  | $ | 374.2 |  |  | $ | 479.3 |  |  | $ | 462.0 |  |
Accretion |  | 18.8 |  |  | 17.2 |  |  | 16.1 |  |
Additions |  | 192.7 |  | (1) | 24.0 |  |  | 12.8 |  |
Revisions to estimated cash flows |  | 6.4 |  |  | (133.5) |  | (2) | 2.2 |  |
Liabilities settled |  | (12.1) |  |  | (12.8) |  |  | (13.8) |  |
Balance as of December 31 |  | $ | 580.0 |  |  | $ | 374.2 |  |  | $ | 479.3 |  |
(1) AROs increased primarily as a result of AROs being recorded related to the new EPA CCR Rule that was enacted in April 2024. See Note 24, Commitments and Contingencies, for more information. (2) AROs decreased primarily due to revisions made to estimated cash flows for changes in removal cost estimates and settlements dates for mains and services at PGL and NSG.

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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481850/410-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/410-20/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 20 -Topic 410 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481850/410-20-50-2 + Details
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