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Regulatory Matters (Tables) | 12 Months Ended
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Dec. 31, 2022
Regulated Operations [Abstract] |
Schedule of Regulatory Assets and Liabilities (Table Text Block) |
Regulatory Assets and Liabilities |  |
As of December 31 | 2022 | 2021
Millions |  |
Current Regulatory Assets (a) |  |
Fuel Adjustment Clause (b) | $25.6 |  | — |
Total Current Regulatory Assets | $25.6 |  | — |
Non-Current Regulatory Assets |  |
Defined Benefit Pension and Other Postretirement Benefit Plans (c) | $225.9 |  | $226.4 |
Income Taxes (d) | 97.6 |  | 104.7 |
Cost Recovery Riders (e) | 41.2 |  | 63.2 |
Asset Retirement Obligations (f) | 35.6 |  | 33.1 |
Manufactured Gas Plant (g) | 15.1 |  | 17.0 |
Fuel Adjustment Clause (b) | 14.5 |  | 56.4 |
PPACA Income Tax Deferral | 4.1 |  | 4.3 |
Other | 7.0 |  | 6.7 |
Total Non-Current Regulatory Assets | $441.0 |  | $511.8 |
Current Regulatory Liabilities (h) |  |
Provision for Interim Rate Refund | $18.4 |  | — |
Fuel Adjustment Clause (b) | — |  | $5.0 |
Transmission Formula Rates | 4.9 |  | 3.1 |
Other | 0.1 |  | 0.5 |
Total Current Regulatory Liabilities | $23.4 |  | $8.6 |
Non-Current Regulatory Liabilities |  |
Income Taxes (d) | $332.5 |  | $353.4 |
Wholesale and Retail Contra AFUDC (j) | 80.7 |  | 83.7 |
Plant Removal Obligations (k) | 60.0 |  | 52.6 |
Defined Benefit Pension and Other Postretirement Benefit Plans (c) | 17.6 |  | 28.1 |
North Dakota Investment Tax Credits (l) | 16.9 |  | 12.2 |
Boswell Units 1 and 2 Net Plant and Equipment (i) | 6.7 |  | 0.4 |
Non-Jurisdictional Land Sales (m) | 7.5 |  | — |
Other | 4.2 |  | 5.7 |
Total Non-Current Regulatory Liabilities | $526.1 |  | $536.1 |
(a)Current regulatory assets are presented within Prepayments and Other on the Consolidated Balance Sheet. (b)Fuel adjustment clause regulatory asset and liability represent the amount expected to be recovered from or refunded to customers for the under- or over-collection of fuel adjustment clause recoveries. (See Fuel Adjustment Clause.) (c)Defined benefit pension and other postretirement items included in our Regulated Operations, which are otherwise required to be recognized in accumulated other comprehensive income, are recognized as regulatory assets or regulatory liabilities on the Consolidated Balance Sheet. The asset or liability will decrease as the deferred items are amortized and recognized as components of net periodic benefit cost. (See Note 12. Pension and Other Postretirement Benefit Plans.) (d)These costs represent the difference between deferred income taxes recognized for financial reporting purposes and amounts previously billed to our customers. The balances will primarily decrease over the remaining life of the related temporary differences. (e)The cost recovery rider regulatory assets and liabilities are revenue not yet collected from our customers and cash collections from our customers in excess of the revenue recognized, respectively, primarily due to capital expenditures related to Bison and the GNTL as well as differences between production tax credits recognized and those assumed in Minnesota Power’s base rates. The cost recovery rider regulatory assets as of December 31, 2022, will be recovered within the next two years. (f)Asset retirement obligations will accrete and be amortized over the lives of the related property with asset retirement obligations. (g)This regulatory asset represents costs of remediation for a former manufactured gas plant site located in Superior, Wisconsin, and formerly operated by SWL&P. We expect recovery of these remediation costs to be allowed by the PSCW in rates over time. (h)Current regulatory liabilities are presented within Other Current Liabilities on the Consolidated Balance Sheet. (i)In 2018, Minnesota Power retired Boswell Units 1 and 2 and reclassified the remaining net book value from property, plant and equipment to a regulatory asset on the Consolidated Balance Sheet. The remaining net book value is currently included in Minnesota Power’s rate base and Minnesota Power is earning a return on the outstanding balance. (j)Wholesale and retail contra AFUDC represents amortization to offset AFUDC Equity and Debt recorded during the construction period of our cost recovery rider projects prior to placing the projects in service. The regulatory liability will decrease over the remaining depreciable life of the related asset. (k)Non-legal plant removal obligations included in retail customer rates that have not yet been incurred. (l)North Dakota investment tax credits expected to be realized from Bison that will be credited to Minnesota Power’s retail customers through future renewable cost recovery rider filings as the tax credits are utilized. (m)This regulatory liability represents the net proceeds from the sale of certain land by Minnesota Power that is expected to be refunded to ratepayers through a future rate case or through its renewable resources 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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