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DERIVATIVE INSTRUMENTS (Tables) | 3 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative assets and liabilities | The following table shows our derivative assets and derivative liabilities. None of the derivatives shown below were designated as hedging instruments.
|  | March 31, 2025 |  | December 31, 2024
(in millions) |  | Derivative Assets |  | Derivative Liabilities |  | Derivative Assets |  | Derivative Liabilities
Current |  |  |  |  |  |  |  |
Natural gas contracts |  | $ | 78.2 |  |  | $ | 4.9 |  |  | $ | 29.2 |  |  | $ | 13.9 |
FTRs and TCRs |  | 3.0 |  |  | — |  |  | 7.8 |  |  | — |
Total current |  | 81.2 |  |  | 4.9 |  |  | 37.0 |  |  | 13.9 |
Long-term |  |  |  |  |  |  |  |
Natural gas contracts |  | 7.4 |  |  | — |  |  | 4.1 |  |  | — |
Total |  | $ | 88.6 |  |  | $ | 4.9 |  |  | $ | 41.1 |  |  | $ | 13.9 |
Schedule of estimated notional sales volumes and realized gains and losses | Our estimated notional sales volumes and realized gains and losses were as follows:
|  | Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
(in millions) |  | Volumes |  | Gains (Losses) |  | Volumes |  | Gains (Losses)
Natural gas contracts |  | 61.5 Dth |  | $ | (1.9) |  |  | 67.8 Dth |  | $ | (56.9) |
FTRs and TCRs |  | 7.4 MWh |  | 1.5 |  |  | 7.6 MWh |  | 1.6 |
Total |  |  |  | $ | (0.4) |  |  |  |  | $ | (55.3) |
Schedule of net derivative instruments | The following table shows derivative assets and derivative liabilities if derivative instruments by counterparty were presented net on our balance sheets:
|  | March 31, 2025 |  | December 31, 2024
(in millions) |  | Derivative Assets |  | Derivative Liabilities |  | Derivative Assets |  | Derivative Liabilities
Gross amount recognized on the balance sheet |  | $ | 88.6 |  |  | $ | 4.9 |  |  | $ | 41.1 |  |  | $ | 13.9 |
Gross amount not offset on the balance sheet |  | (48.4) |  | (1) | (0.6) |  |  | (11.5) |  | (2) | (7.3) |
Net amount |  | $ | 40.2 |  |  | $ | 4.3 |  |  | $ | 29.6 |  |  | $ | 6.6 |
(1)Includes cash collateral received of $47.8 million. (2)Includes cash collateral received of $4.2 million.

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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- Definition Tabular disclosure of the amount of the realized gain (loss) and notional volumes for derivative instruments not designated as hedging instruments. + References No definition available. + Details
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- Definition Tabular disclosure of derivative assets and liabilities if derivative instruments by counterparty were presented net on the balance sheets. + References No definition available. + Details
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