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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
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,
 20242023
CL&P
(Millions of Dollars)
Fair Value HierarchyCommodity 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 AssetsLevel 2$14.2 $(0.3)$13.9 $16.4 $(0.5)$15.9 
Long-Term Derivative AssetsLevel 2— — — 13.6 (0.5)13.1 
Current Derivative LiabilitiesLevel 2(71.1)— (71.1)(81.9)— (81.9)
Long-Term Derivative LiabilitiesLevel 2— — — (68.0)— (68.0)

(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, 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 Year Ended
December 31, 2023
Derivatives, Net:
Fair Value as of Beginning of Period$(181.8)
Net Realized/Unrealized Losses Included in Regulatory Assets(3.9)
Settlements64.8 
Transfers out of Level 3 (1)
120.9 
Fair Value as of End of Period$— 

(1)    Transfers out of Level 3 pertain to certain significant valuation inputs becoming observable as well as certain unobservable inputs no longer being significant to the fair value of the derivative contracts. Eversource's policy is to recognize transfers between levels of the fair value hierarchy as of the end of the reporting period.