Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2013

The following table shows the components of Accrued Revenue as of March 31, 2013, March 31, 2012 and December 31, 2012.


	March 31,				December 31,
Accrued Revenue ($millions)	2013		2012		2012
Regulatory Assets – Current	$	27.3	$	32.3	$	46.6
Unbilled Revenues		10.4		8.6		11.5

Total Accrued Revenue	$	37.7	$	40.9	$	58.1

Components of Gas Inventory

The following table shows the components of Gas Inventory as of March 31, 2013, March 31, 2012 and December 31, 2012.


	March 31,				December 31,
Gas Inventory ($millions)	2013		2012		2012
Natural Gas	$	—	$	0.1	$	0.6
Propane		0.3		0.4		0.4
Liquefied Natural Gas & Other		0.2		0.1		0.1

Total Gas Inventory	$	0.5	$	0.6	$	1.1

Components of Exchange Gas Receivable

The following table shows the components of Exchange Gas Receivable as of March 31, 2013, March 31, 2012 and December 31, 2012.


	March 31,				December 31,
Exchange Gas Receivable ($millions)	2013		2012		2012
Northern Utilities	$	1.5	$	5.9	$	8.7
Fitchburg		0.2		0.3		0.7

Total Exchange Gas Receivable	$	1.7	$	6.2	$	9.4

Components of Energy Supply Obligations


	March 31,				December 31,
Energy Supply Obligations ($millions)	2013		2012		2012
Current:
Exchange Gas Obligation	$	1.5	$	5.9	$	8.7
Power Supply Contract Divestitures		0.9		6.7		0.9
Renewable Energy Portfolio Standards		4.7		3.5		4.2

Total Energy Supply Obligations – Current	$	7.1	$	16.1	$	13.8
Long-Term:
Power Supply Contract Divestitures	$	3.1	$	4.0	$	3.3

Total Energy Supply Obligations	$	10.2	$	20.1	$	17.1

Fair Value Amount of Derivative Assets and Liabilities Offset in Regulatory Liabilities and Assets


Fair Value Amount of Derivative Assets / Liabilities (millions) Offset in Regulatory Liabilities / Assets, as of:
		Fair Value
Description	Balance Sheet Location	March 31, 2013		March 31, 2012		December 31, 2012
Derivative Assets
Natural Gas Futures Contracts	Prepayments and Other	$	0.5	$	—	$	—

Natural Gas Futures Contracts	Other Noncurrent Assets		—		—		—

Total Derivative Assets		$	0.5	$	—	$	—


Derivative Liabilities
Natural Gas Futures Contracts	Other Current Liabilities	$	—	$	1.8	$	0.7

Natural Gas Futures Contracts	Other Noncurrent Liabilities		—		0.2		—

Total Derivative Liabilities		$	—	$	2.0	$	0.7

Regulatory Assets (Liabilities) and Reclassification from Regulatory Asset (Liabilities) into Purchased Gas


	Three Months Ended March 31,
(millions)	2013			2012
Amount of Loss (Gain) Recognized in Regulatory Assets (Liabilities) for Derivatives:
Natural Gas Futures Contracts	$	(0.3	)	$	1.3
Amount of Loss Reclassified into unaudited Consolidated Statements of Earnings⁽¹⁾:
Purchased Gas	$	0.9		$	1.6

⁽¹⁾	These amounts are offset in the unaudited Consolidated Statements of Earnings with Accrued Revenue and therefore there is no effect on earnings.

Allowance for Doubtful Accounts Included in Accounts Receivable, Net

The Allowance for Doubtful Accounts as of March 31, 2013, March 31, 2012 and December 31, 2012, which are included in Accounts Receivable, Net on the accompanying unaudited consolidated balance sheets, were as follows:

(Millions)

March 31,

December 31,

2013

2012

Allowance for Doubtful Accounts

2.0

2.6

1.9