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Regulatory Matters | 9 Months Ended
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Sep. 30, 2024
Regulated Operations [Abstract] |
Regulatory Matters | (2) Regul atory Matters We had the following regulatory assets and liabilities:
| As of |  | As of |
| September 30, 2024 |  | December 31, 2023 |
| (in millions) |
Regulatory assets |  |  |  |
Winter Storm Uri | $ | 123.4 |  | $ | 199.6 |
Deferred energy and fuel cost adjustments |  | 61.1 |  |  | 55.1 |
Deferred gas cost adjustments |  | 17.2 |  |  | 4.1 |
Gas price derivatives |  | 3.2 |  |  | 5.1 |
Deferred taxes on AFUDC |  | 7.7 |  |  | 7.1 |
Employee benefit plans and related deferred taxes |  | 86.1 |  |  | 89.3 |
Environmental |  | 10.6 |  |  | 2.9 |
Loss on reacquired debt |  | 16.1 |  |  | 17.4 |
Deferred taxes on flow through accounting |  | 80.9 |  |  | 74.7 |
Decommissioning costs |  | 2.4 |  |  | 2.4 |
Other regulatory assets |  | 23.5 |  |  | 22.4 |
Total regulatory assets |  | 432.2 |  |  | 480.1 |
Less current regulatory assets |  | (156.1 | ) |  | (175.7 | )
Regulatory assets, non-current | $ | 276.1 |  | $ | 304.4 |
Regulatory liabilities |  |  |  |
Deferred energy and gas costs | $ | 82.6 |  | $ | 88.9 |
Employee benefit plan costs and related deferred taxes |  | 34.6 |  |  | 36.2 |
Cost of removal |  | 193.2 |  |  | 181.9 |
Excess deferred income taxes |  | 240.5 |  |  | 247.1 |
Other regulatory liabilities |  | 6.1 |  |  | 12.5 |
Total regulatory liabilities |  | 557.0 |  |  | 566.6 |
Less current regulatory liabilities |  | (86.2 | ) |  | (98.9 | )
Regulatory liabilities, non-current | $ | 470.8 |  | $ | 467.7 |
Regulatory Activity Arkansas Gas On December 4, 2023, Arkansas Gas filed a rate review with the APSC seeking recovery of significant infrastructure investments in its 7,200-mile natural gas pipeline system. On October 1, 2024, Arkansas Gas received final approval for a settlement agreement for a general rate increase which is expected to generate $25.4 million of new annual revenue and shift $3.7 million of rider revenue to base rates. The approval allows a capital structure of 46% equity and 54% debt and a return on equity of 9.9%. New rates were effective October 14, 2024. Colorado Electric On June 14, 2024, Colorado Electric filed a rate review with the CPUC seeking recovery of significant infrastructure investments in its 3,200-mile electric distribution and 600-mile electric transmission systems. The rate review requests $36.7 million in new annual revenue with a capital structure of 53% equity and 47% debt and a return on equity of 10.5%. The request seeks to finalize rates in the first quarter of 2025. Colorado Gas 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. In March 2024, Colorado Gas received final approval for a settlement agreement for a general rate increase which is expected to generate $20.2 million of new annual revenue with a capital structure of 51% equity and 49% debt and a return on equity of 9.3%. Final rates were enacted on May 1, 2024, and replaced interim rates effective February 13, 2024. Iowa Gas On May 1, 2024, Iowa Gas filed a rate review with the IUC seeking recovery of significant infrastructure investments in its 5,000-mile natural gas pipeline system. On October 15, 2024, Iowa Gas reached a settlement agreement with the Iowa Office of Consumer Advocate for a general rate increase, which is subject to IUC approval. T he settlement is expected to generate $15.0 million of new annual revenue based on a weighted average cost of capital of 7.2%. If approved, new rates will be effective in the first quarter of 2025 and will replace interim rates effective May 11, 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 January 17, 2024, the WPSC approved a settlement agreement for a general rate increase which is expected to generate $13.9 million in new annual revenue with a capital structure of 51% equity and 49% debt and a return on equity of 9.9%. New rates were effective February 1, 2024. The agreement also included approval of a four-year extension of the Wyoming Integrity Rider.

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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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