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Derivative and Hedging Instruments (Tables) | 12 Months Ended
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Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Gross Notional Volume of Open Derivatives | The gross notional volume of open derivatives is as follows:
|  | December 31, 2025 |  | December 31, 2024
Commodity derivative contracts |  |  | 224,360 |  |  | MWh |  |  | 307,640 |  |  | MWh
Commodity derivative contracts |  |  | 8,230,000 |  |  | Dth |  |  | 6,285,000 |  |  | Dth
FTRs |  |  | 2,413 |  |  | MW |  |  | 2,131 |  |  | MW
Fair Value of Derivative Instruments on the Balance Sheet | The following table summarizes the fair value of the derivative instruments on the consolidated balance sheets. All derivative instruments in this table are presented on a gross basis and are calculated prior to the netting of instruments with the same counterparty under a master netting agreement as well as the netting of collateral. For financial statement purposes, instruments are netted with the same counterparty under a master netting agreement as well as the netting of collateral.
(In thousands) |  | Derivative Assets |  |  | Derivative Liabilities |  |  | Balance Sheet Location
December 31, 2025 |  |  |  |  |  |  |  |
Commodity derivative contracts(a) |  | $ | 448 |  |  | $ | 2,380 |  |  | Other current liabilities
Commodity derivative contracts(a) |  |  | 366 |  |  |  | 185 |  |  | Other deferred liabilities and other
FTRs |  |  | 337 |  |  |  | — |  |  | Other current assets
December 31, 2024 |  |  |  |  |  |  |  |
Commodity derivative contracts(a) |  | $ | 927 |  |  | $ | 1,121 |  |  | Other current liabilities
Commodity derivative contracts(a) |  |  | 286 |  |  |  | 140 |  |  | Other deferred liabilities and other
FTRs |  |  | 108 |  |  |  | — |  |  | Other current assets
(a) As of December 31, 2025, and 2024, collateral of $1.8 million and less than $0.1 million, respectively, was posted against and netted with derivative liability positions. The fair value of the derivatives disclosed in this table has not been adjusted for the collateral posted.
Offsetting Assets | The following table shows the effect of netting arrangements for recognized derivative assets and liabilities that are subject to a master netting arrangement or similar arrangement on the consolidated balance sheets. Offsetting of Derivative Assets and Liabilities
(In thousands) |  | Gross Amounts |  |  | Gross Amounts Offset in Balance Sheets |  |  | Collateral Posted Against Derivative Positions |  |  | Net Amount Presented in Balance Sheets |
December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Commodity derivative contracts |  | $ | 814 |  |  | $ | (814 | ) |  | $ | — |  |  | $ | — |
FTRs |  |  | 337 |  |  |  | — |  |  |  | — |  |  |  | 337 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Commodity derivative contracts |  |  | 2,565 |  |  |  | (814 | ) |  |  | (1,751 | ) |  |  | — |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Commodity derivative contracts |  | $ | 1,213 |  |  | $ | (1,213 | ) |  | $ | — |  |  | $ | — |
FTRs |  |  | 108 |  |  |  | — |  |  |  | — |  |  |  | 108 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Commodity derivative contracts |  |  | 1,261 |  |  |  | (1,213 | ) |  |  | (48 | ) |  |  | — |
Offsetting Liabilities | The following table shows the effect of netting arrangements for recognized derivative assets and liabilities that are subject to a master netting arrangement or similar arrangement on the consolidated balance sheets. Offsetting of Derivative Assets and Liabilities
(In thousands) |  | Gross Amounts |  |  | Gross Amounts Offset in Balance Sheets |  |  | Collateral Posted Against Derivative Positions |  |  | Net Amount Presented in Balance Sheets |
December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Commodity derivative contracts |  | $ | 814 |  |  | $ | (814 | ) |  | $ | — |  |  | $ | — |
FTRs |  |  | 337 |  |  |  | — |  |  |  | — |  |  |  | 337 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Commodity derivative contracts |  |  | 2,565 |  |  |  | (814 | ) |  |  | (1,751 | ) |  |  | — |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Commodity derivative contracts |  | $ | 1,213 |  |  | $ | (1,213 | ) |  | $ | — |  |  | $ | — |
FTRs |  |  | 108 |  |  |  | — |  |  |  | — |  |  |  | 108 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Commodity derivative contracts |  |  | 1,261 |  |  |  | (1,213 | ) |  |  | (48 | ) |  |  | — |
Derivative Gains and Losses in Balance Sheet | The following tables summarize the unrealized and realized gains (losses) related to the derivative instruments on the consolidated balance sheets and the consolidated statements of income.
|  | 2025 |  |  | 2024 |
|  | Current and Long-Term Regulatory Asset (Liability) |  |  | Other Current Assets |  |  | Current and Long-Term Regulatory Asset (Liability) |  |  | Other Current Assets |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |
Unrealized loss |  | $ | 3,149 |  |  | $ | — |  |  | $ | 5,041 |  |  | $ | — |
Realized (loss) gain reclassified to a deferred account |  |  | (153 | ) |  |  | 153 |  |  |  | (3,821 | ) |  |  | 3,821 |
Realized (loss) gain reclassified to income statement |  |  | (1,522 | ) |  |  | 27 |  |  |  | (6,506 | ) |  |  | (5,002 | )
Derivative Gains and Losses in Income Statement |
|  | Realized Losses (Gains) |
|  | 2025 |  |  | 2024 |
(In thousands) |  | Fuel for Electric Generation/ Purchased Power |  |  | Cost of Gas Sold |  |  | Fuel for Electric Generation/ Purchased Power |  |  | Cost of Gas Sold |
Year Ended December 31: |  |  |  |  |  |  |  |  |  |  |  |
Commodity derivative contracts |  | $ | 823 |  |  | $ | (58 | ) |  | $ | 7,052 |  |  | $ | 3,726 |
FTRs |  |  | 730 |  |  |  | — |  |  |  | 730 |  |  |  | — |

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