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Regulatory assets and liabilities | 6 Months Ended
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Jun. 30, 2019
Regulatory Assets and Liabilities Disclosure [Abstract] |
Regulatory Assets and Liabilities | Regulatory assets and liabilities The following table summarizes the individual components of unamortized regulatory assets and liabilities:
| Estimated Recovery Period | * | June 30, 2019 |  | December 31, 2018 |
|  |  | (In thousands)
Regulatory assets: |  |  |  |
Pension and postretirement benefits (a) | (e) |  | $ | 165,861 |  | $ | 165,898 |
Natural gas costs recoverable through rate adjustments (a) (b) | Up to 3 years |  | 94,543 |  | 42,652 |
Asset retirement obligations (a) | Over plant lives |  | 64,215 |  | 60,097 |
Cost recovery mechanisms (a) (b) | Up to 4 years |  | 18,488 |  | 17,948 |
Manufactured gas plant site remediation (a) | - |  | 15,619 |  | 17,068 |
Taxes recoverable from customers (a) | Over plant lives |  | 11,755 |  | 11,946 |
Plants to be retired (a) | - |  | 16,933 |  | — |
Conservation programs (b) | Up to 1 year |  | 7,627 |  | 7,494 |
Long-term debt refinancing costs (a) | Up to 19 years |  | 4,592 |  | 4,898 |
Costs related to identifying generation development (a) | Up to 8 years |  | 2,280 |  | 2,508 |
Other (a) (b) | Up to 20 years |  | 5,761 |  | 9,608 |
Total regulatory assets |  |  | $ | 407,674 |  | $ | 340,117 |
Regulatory liabilities: |  |  |  |
Taxes refundable to customers (c) (d) |  |  | $ | 264,025 |  | $ | 277,833 |
Plant removal and decommissioning costs (c) (d) |  |  | 175,003 |  | 173,143 |
Natural gas costs refundable through rate adjustments (d) |  |  | 25,737 |  | 29,995 |
Pension and postretirement benefits (c) |  |  | 12,967 |  | 15,264 |
Other (c) (d) |  |  | 27,955 |  | 25,197 |
Total regulatory liabilities |  |  | $ | 505,687 |  | $ | 521,432 |
Net regulatory position |  |  | $ | (98,013 | ) | $ | (181,315 | )
* | Estimated recovery period for regulatory assets currently being recovered in rates charged to customers.
(a) | Included in deferred charges and other assets - other on the Consolidated Balance Sheets.
(b) | Included in prepayments and other current assets on the Consolidated Balance Sheets.
(c) | Included in deferred credits and other liabilities - other on the Consolidated Balance Sheets.
(d) | Included in other accrued liabilities on the Consolidated Balance Sheets.
(e) | Recovered as expense is incurred or cash contributions are made.
The regulatory assets are expected to be recovered in rates charged to customers. A portion of the Company's regulatory assets are not earning a return; however, these regulatory assets are expected to be recovered from customers in future rates. As of June 30, 2019 and December 31, 2018, approximately $290.5 million and $313.5 million, respectively, of regulatory assets were not earning a rate of return. During the first quarter of 2019 and the fourth quarter of 2018, the Company experienced increased natural gas costs in certain jurisdictions where it supplies natural gas. The Company has recorded these natural gas costs as regulatory assets as they are expected to be recovered from customers, as discussed in Note 19. In February 2019, the Company announced that it intends to retire three aging coal-fired electric generation units within the next three years. The Company has accelerated the depreciation related to these facilities in property, plant and equipment and has recorded the difference between the accelerated depreciation, in accordance with GAAP, and the depreciation approved for rate-making purposes as regulatory assets. The Company expects to recover the regulatory assets related to the plants to be retired in future rates. If, for any reason, the Company's regulated businesses cease to meet the criteria for application of regulatory accounting for all or part of their operations, the regulatory assets and liabilities relating to those portions ceasing to meet such criteria would be removed from the balance sheet and included in the statement of income or accumulated other comprehensive income (loss) in the period in which the discontinuance of regulatory accounting occurs.

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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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