Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2023

Regulatory Assets and Liabilities [Table Text Block]


Regulatory Assets and Liabilities	March 31, 2023	December 31, 2022
Millions
Current Regulatory Assets (a)
Fuel Adjustment Clause	$15.3	$25.6
Total Current Regulatory Assets	$15.3	$25.6
Non-Current Regulatory Assets
Defined Benefit Pension and Other Postretirement Plans	$225.2	$225.9
Income Taxes	95.3	97.6
Cost Recovery Riders	42.2	41.2
Asset Retirement Obligations	36.1	35.6
Taconite Harbor Energy Center (b)	29.7	—
Fuel Adjustment Clause	15.5	14.5
Manufactured Gas Plant	14.5	15.1
PPACA Income Tax Deferral	4.1	4.1


Other	6.5	7.0
Total Non-Current Regulatory Assets	$469.1	$441.0


Current Regulatory Liabilities (c)

Provision for Interim Rate Refund (d)	$23.5	$18.4
Transmission Formula Rates Refund	$3.7	4.9
Other	3.1	0.1
Total Current Regulatory Liabilities	$30.3	$23.4
Non-Current Regulatory Liabilities
Income Taxes	$326.2	$332.5
Wholesale and Retail Contra AFUDC	80.0	80.7
Plant Removal Obligations	61.6	60.0
North Dakota Investment Tax Credits	16.8	16.9
Defined Benefit Pension and Other Postretirement Benefit Plans	15.7	17.6
Fuel Adjustment Clause	5.3	—


Boswell Units 1 and 2 Net Plant and Equipment	6.7	6.7
Non-Jurisdictional Land Sales	9.2	7.5
Other	4.9	4.2
Total Non-Current Regulatory Liabilities	$526.4	$526.1

(a)Current regulatory assets are presented within Prepayments and Other on the Consolidated Balance Sheet.

(b)In the first quarter of 2023, Minnesota Power retired Taconite Harbor Units 1 and 2. The remaining net book value was reclassified from property, plant and equipment to a regulatory asset on the Consolidated Balance Sheet when the units were retired. Minnesota Power expects to receive recovery of the remaining net book value from customers.

(c)Current regulatory liabilities are presented within Other Current Liabilities on the Consolidated Balance Sheet.

(d)See 2022 Minnesota General Rate Case.