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DERIVATIVE INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:
|  |  | As of December 31,
|  |  | 2022 |  | 2021
CL&P (Millions of Dollars) | Fair Value Hierarchy |  | Commodity Supply and Price Risk Management |  | Netting (1) |  | Net Amount Recorded as a Derivative |  | Commodity Supply and Price Risk Management |  | Netting (1) |  | Net Amount Recorded as a Derivative
Current Derivative Assets | Level 3 |  | $ | 16.3 |  |  | $ | (0.5) |  |  | $ | 15.8 |  |  | $ | 14.7 |  |  | $ | (1.0) |  |  | $ | 13.7 |
Long-Term Derivative Assets | Level 3 |  | 28.8 |  |  | (0.9) |  |  | 27.9 |  |  | 46.9 |  |  | (0.9) |  |  | 46.0 |
Current Derivative Liabilities | Level 3 |  | (81.6) |  |  | — |  |  | (81.6) |  |  | (73.5) |  |  | — |  |  | (73.5) |
Long-Term Derivative Liabilities | Level 3 |  | (143.9) |  |  | — |  |  | (143.9) |  |  | (235.4) |  |  | — |  |  | (235.4) |
(1) Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets. These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.
Fair Value Inputs, Liabilities, Quantitative Information |
| As of December 31,
| 2022 |  | 2021
CL&P | Range |  | Average |  |  |  | Period Covered |  | Range |  | Average |  |  |  | Period Covered
Forward Reserve Prices | $ | 0.44 |  |  | — |  | $0.50 |  | $ | 0.47 |  |  | per kW-Month |  | 2023 - 2024 |  | $ | 0.50 |  |  | — |  | $1.15 |  | $ | 0.82 |  |  | per kW-Month |  | 2022 - 2024
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis. The derivative assets and liabilities are presented on a net basis.
CL&P (Millions of Dollars) | For the Years Ended December 31,
2022 |  | 2021
Derivatives, Net: |  |  |
Fair Value as of Beginning of Period | $ | (249.2) |  |  | $ | (293.1) |
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets | 10.1 |  |  | (8.5) |
Settlements | 57.3 |  |  | 52.4 |
Fair Value as of End of Period | $ | (181.8) |  |  | $ | (249.2) |

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