XML 56 R14.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Utility Regulatory Assets and Liabilities and Regulatory Matters | 3 Months Ended
--- | ---
Dec. 31, 2014
Regulated Operations [Abstract] |
Utility Regulatory Assets and Liabilities and Regulatory Matters | Note 6 — Utility Regulatory Assets and Liabilities and Regulatory Matters For a description of the Company’s regulatory assets and liabilities other than those described below, see Note 9 in the Company’s 2014 Annual Report. UGI Utilities does not recover a rate of return on its regulatory assets. The following regulatory assets and liabilities associated with Utilities are included in our accompanying Condensed Consolidated Balance Sheets:
|  | December 31, 2014 |  | September 30, 2014 |  | December 31, 2013
Regulatory assets (a): |  |  |  |  |  |
Income taxes recoverable |  | $ | 111.1 |  |  | $ | 110.7 |  |  | $ | 106.4 |
Underfunded pension and postretirement plans |  | 107.8 |  |  | 110.1 |  |  | 92.8 |
Environmental costs |  | 14.7 |  |  | 14.6 |  |  | 14.9 |
Deferred fuel and power costs |  | 16.7 |  |  | 11.8 |  |  | 0.4 |
Removal costs, net |  | 17.6 |  |  | 16.8 |  |  | 13.7 |
Other |  | 2.7 |  |  | 4.2 |  |  | 5.7 |
Total regulatory assets |  | $ | 270.6 |  |  | $ | 268.2 |  |  | $ | 233.9 |
Regulatory liabilities (a): |  |  |  |  |  |
Postretirement benefits |  | $ | 19.0 |  |  | $ | 18.6 |  |  | $ | 16.8 |
Environmental overcollections |  | 0.2 |  |  | 0.3 |  |  | 2.3 |
Deferred fuel and power refunds |  | — |  |  | 0.3 |  |  | 7.5 |
State tax benefits—distribution system repairs |  | 10.3 |  |  | 10.1 |  |  | 8.7 |
Other |  | 3.4 |  |  | 3.2 |  |  | 1.3 |
Total regulatory liabilities |  | $ | 32.9 |  |  | $ | 32.5 |  |  | $ | 36.6 |
(a) Noncurrent regulatory assets are recorded in other assets and regulatory liabilities are recorded in other current and other noncurrent liabilities in the Condensed Consolidated Balance Sheets. Deferred fuel and power—costs and refunds. Gas Utility’s and Electric Utility’s tariffs contain clauses which permit recovery of all prudently incurred purchased gas and power costs through the application of purchased gas cost (“PGC”) rates in the case of Gas Utility and default service (“DS”) tariffs in the case of Electric Utility. The clauses provide for periodic adjustments to PGC and DS rates for differences between the total amount of purchased gas and electric generation supply costs collected from customers and recoverable costs incurred. Net undercollected costs are classified as a regulatory asset and net overcollections are classified as a regulatory liability. Gas Utility uses derivative instruments to reduce volatility in the cost of gas it purchases for firm- residential, commercial and industrial (“retail core-market”) customers. Realized and unrealized gains or losses on natural gas derivative instruments are included in deferred fuel costs or refunds. Net unrealized gains (losses) on such contracts at December 31, 2014, September 30, 2014 and December 31, 2013 were $(6.8), $(1.4) and $2.0, respectively. Electric Utility enters into forward electricity purchase contracts to meet a substantial portion of its electricity supply needs. Because we have chosen not to elect the NPNS exception under GAAP related to these derivative instruments, these electricity supply contracts are recognized on the balance sheet at fair value with an associated adjustment to regulatory assets or liabilities because Electric Utility is entitled to fully recover its DS costs. At December 31, 2014, September 30, 2014, and December 31, 2013, the fair values of Electric Utility’s electricity supply contracts were gains (losses) of $(2.4), $0.3 and $(3.2), respectively. These amounts are reflected in current derivative assets and current derivative liabilities on the Condensed Consolidated Balance Sheets with equal and offsetting amounts reflected in deferred fuel and power costs and refunds in the table above. In order to reduce volatility associated with a substantial portion of its electric transmission congestion costs, Electric Utility obtains financial transmission rights (“FTRs”). FTRs are derivative instruments that entitle the holder to receive compensation for electricity transmission congestion charges when there is insufficient electricity transmission capacity on the electric transmission grid. Because Electric Utility is entitled to fully recover its DS costs, realized and unrealized gains or losses on FTRs are included in deferred fuel and power costs or deferred fuel and power refunds. Unrealized gains or losses on FTRs at December 31, 2014, September 30, 2014, and December 31, 2013, were not material.

X
- Definition The entire disclosure for public utilities. + References No definition available. + Details
Name: | us-gaap_PublicUtilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_RegulatedOperationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration