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Regulatory Matters | 9 Months Ended
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Sep. 30, 2023
Regulated Operations [Abstract] |
Regulatory Matters | (2) Regulatory Matters We had the following regulatory assets and liabilities (in thousands):
| As of |  | As of |
| September 30, 2023 |  | December 31, 2022 |
Regulatory assets |  |  |  |
Winter Storm Uri | $ | 225,052 |  | $ | 347,980 |
Deferred energy and fuel cost adjustments |  | 59,129 |  |  | 72,580 |
Deferred gas cost adjustments |  | 8,048 |  |  | 12,147 |
Gas price derivatives |  | 3,849 |  |  | 8,793 |
Deferred taxes on AFUDC |  | 7,180 |  |  | 7,333 |
Employee benefit plans and related deferred taxes |  | 87,423 |  |  | 89,259 |
Environmental |  | 2,868 |  |  | 1,343 |
Loss on reacquired debt |  | 17,865 |  |  | 19,213 |
Deferred taxes on flow through accounting |  | 69,259 |  |  | 69,529 |
Decommissioning costs |  | 2,407 |  |  | 3,472 |
Other regulatory assets |  | 21,779 |  |  | 21,332 |
Total regulatory assets |  | 504,859 |  |  | 652,981 |
Less current regulatory assets |  | (191,746 | ) |  | (260,312 | )
Regulatory assets, non-current | $ | 313,113 |  | $ | 392,669 |
Regulatory liabilities |  |  |  |
Deferred energy and gas costs | $ | 91,273 |  | $ | 41,722 |
Employee benefit plan costs and related deferred taxes |  | 33,006 |  |  | 34,258 |
Cost of removal |  | 179,208 |  |  | 175,614 |
Excess deferred income taxes |  | 250,390 |  |  | 254,833 |
Other regulatory liabilities |  | 9,080 |  |  | 12,146 |
Total regulatory liabilities |  | 562,957 |  |  | 518,573 |
Less current regulatory liabilities |  | (93,988 | ) |  | (46,013 | )
Regulatory liabilities, non-current | $ | 468,969 |  | $ | 472,560 |
Regulatory Activity Except as discussed below, there have been no other significant changes to our Regulatory Matters from those previously disclosed in Note 2 of the Notes to the Consolidated Financial Statements in our 2022 Annual Report on Form 10-K. Colorado Gas RMNG Rate Review On July 12, 2023, the CPUC approved a settlement agreement for RMNG's rate review filed on October 7, 2022. The agreement is expected to generate $8.2 million in new annual revenue and establishes a weighted average cost of capital of 6.93% with a capital structure that reflects an equity range of 50% to 52%, a debt range of 50% to 48% and a return on equity range of 9.5% to 9.7%. The settlement also shifts $8.3 million of SSIR revenues to base rates and terminates the SSIR. New rates were effective July 15, 2023. Colorado Gas Rate Review On May 9, 2023, Colorado Gas filed a rate review with the CPUC seeking recovery of significant infrastructure investments in its 10,000-mile natural gas pipeline system. The rate review requests $27 million in new annual revenue with a capital structure of 51% equity and 49% debt and a return on equity of 10.49%. The request seeks to finalize rates in the first quarter of 2024. Wyoming Gas On May 18, 2023, Wyoming Gas filed a rate review with the WPSC seeking recovery of significant infrastructure investments in its 6,400-mile natural gas pipeline system. On October 13, 2023, Wyoming Gas filed a settlement agreement with the WPSC for a general rate increase. The agreement is expected to generate $13.9 million in new annual revenue with a capital structure of 51% equity, 49% debt and a return on equity of 9.85%. Subject to WPSC approval, the agreement includes new rates effective January 1, 2024 and a four-year extension of the Wyoming Integrity Rider. Wyoming Electric On June 1, 2022, Wyoming Electric filed a rate review with the WPSC seeking recovery of significant infrastructure investments in its 1,330-mile electric distribution and 59-mile electric transmission systems. On January 26, 2023, the WPSC approved a settlement agreement with intervening parties for a general rate increase. The settlement is expected to generate $8.7 million in new annual revenue with a capital structure of 52% equity, 48% debt and a return on equity of 9.75%. New rates were effective March 1, 2023. The agreement also includes approval of a new rider that will be filed annually to recover transmission investments and expenses.

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- Definition The entire disclosure for detailed information about regulatory assets and liabilities, including current and noncurrent assets created when regulatory agencies permit the deferral of costs to the balance sheet that would otherwise be required to appear on the company's income statement and would be charged against current expenses or revenues, as well as current and noncurrent liabilities created when regulatory agencies permit. + References No definition available. + Details
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