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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2020

Components of Gas and Electric Operating Revenue

		Three Months Ended June 30, 2020
Gas and Electric Operating Revenues ($ millions):		Gas				Electric				Total
Billed and Unbilled Revenue:
Residential		$	14.3			$	30.2			$	44.5
C&I			19.0				20.5				39.5
Other			1.2				1.5				2.7
Total Billed and Unbilled Revenue			34.5				52.2				86.7
Rate Adjustment Mechanism Revenue			(0.8	)			(2.0	)			(2.8	)
Total Gas and Electric Operating Revenues		$	33.7			$	50.2			$	83.9
		Three Months Ended June 30, 2019
Gas and Electric Operating Revenues ($ millions):		Gas				Electric				Total
Billed and Unbilled Revenue:
Residential		$	15.7			$	27.7			$	43.4
C&I			23.1				23.0				46.1
Other			1.5				2.1				3.6
Total Billed and Unbilled Revenue			40.3				52.8				93.1
Rate Adjustment Mechanism Revenue			(7.7	)			(1.0	)			(8.7	)
Total Gas and Electric Operating Revenues		$	32.6			$	51.8			$	84.4
		Six Months Ended June 30, 2020
Gas and Electric Operating Revenues ($ millions):		Gas				Electric				Total
Billed and Unbilled Revenue:
Residential		$	45.4			$	64.6			$	110.0
C&I			61.3				44.7				106.0
Other			4.2				3.5				7.7
Total Billed and Unbilled Revenue			110.9				112.8				223.7
Rate Adjustment Mechanism Revenue			(7.0	)			(2.4	)			(9.4	)
Total Gas and Electric Operating Revenues		$	103.9			$	110.4			$	214.3
		Six Months Ended June 30, 2019
Gas and Electric Operating Revenues ($ millions):		Gas				Electric				Total
Billed and Unbilled Revenue:
Residential		$	54.4			$	63.5			$	117.9
C&I			77.1				47.7				124.8
Other			8.0				4.3				12.3
Total Billed and Unbilled Revenue			139.5				115.5				255.0
Rate Adjustment Mechanism Revenue			(20.5	)			1.1				(19.4	)
Total Gas and Electric Operating Revenues		$	119.0			$	116.6			$	235.6

Allowance for Doubtful Accounts Included in Accounts Receivable Net

The Allowance for Doubtful Accounts as of June 30, 2020, June 30, 2019 and December 31, 2019, was as follows:

		June 30,								December 31,
($ millions)		2020				2019				2019
Allowance for Doubtful Accounts		$	1.4			$	1.6			$	1.0

Components of Accrued Revenue

		June 30,								December 31,
Accrued Revenue ($ millions)		2020				2019				2019
Regulatory Assets – Current		$	26.8			$	23.1			$	35.8
Unbilled Revenues			8.1				9.0				14.2
Total Accrued Revenue		$	34.9			$	32.1			$	50.0

Components of Exchange Gas Receivable

		June 30,								December 31,
Exchange Gas Receivable ($ millions)		2020				2019				2019
Northern Utilities		$	3.9			$	4.9			$	5.5
Fitchburg			0.3				0.4				0.6
Total Exchange Gas Receivable		$	4.2			$	5.3			$	6.1

Components of Gas Inventory

The following table shows the components of Gas Inventory as of June 30, 2020, June 30, 2019 and December 31, 2019.

		June 30,								December 31,
Gas Inventory ($ millions)		2020				2019				2019
Natural Gas		$	0.1			$	0.2			$	0.4
Propane			0.3				0.4				0.3
Liquefied Natural Gas & Other			0.1				0.1				0.1
Total Gas Inventory		$	0.5			$	0.7			$	0.8

Regulatory Assets

		June 30,								December 31,
Regulatory Assets consist of the following ($ millions)		2020				2019				2019
Retirement Benefits		$	80.8			$	73.2			$	88.9
Energy Supply & Other Rate Adjustment Mechanisms			23.8				18.5				31.0
Deferred Storm Charges			4.9				5.5				5.6
Environmental			6.2				7.4				7.2
Income Taxes			3.8				4.5				4.2
Other Deferred Charges			12.2				11.3				10.9
Total Regulatory Assets		$	131.7			$	120.4			$	147.8
Less: Current Portion of Regulatory Assets(1)			26.8				23.1				35.8
Regulatory Assets – noncurrent		$	104.9			$	97.3			$	112.0

(1)  Reflects amounts included in Accrued Revenue, discussed above, on the Company’s Consolidated Balance Sheets.

Regulatory Liabilities

		June 30,								December 31,
Regulatory Liabilities consist of the following ($ millions)		2020				2019				2019
Income Taxes (Note 8)		$	45.9			$	47.8			$	47.6
Rate Adjustment Mechanisms			11.2				17.0				6.0
Other			0.3				0.6				0.4
Total Regulatory Liabilities		$	57.4			$	65.4			$	54.0
Less: Current Portion of Regulatory Liabilities			12.6				18.5				7.4
Regulatory Liabilities – noncurrent		$	44.8			$	46.9			$	46.6

Fair Value of Marketable Securities

		June 30,								December 31,
Fair Value of Marketable Securities ($ millions)		2020				2019				2019
Money Market Funds		$	5.6			$	5.5			$	5.6
Total Marketable Securities		$	5.6			$	5.5			$	5.6

Components of Energy Supply Obligations

The following discussion and table summarize the nature and amounts of the items recorded as Energy Supply Obligations (current portion) and Other Noncurrent Liabilities (noncurrent portion) on the Company’s Consolidated Balance Sheets.

		June 30,								December 31,
Energy Supply Obligations ($ millions)		2020				2019				2019
Current:
Exchange Gas Obligation		$	3.9			$	4.9			$	5.5
Renewable Energy Portfolio Standards			4.2				4.0				4.7
Power Supply Contract Divestitures			0.3				0.3				0.3
Total Energy Supply Obligations – Current			8.4				9.2				10.5
Noncurrent:
Power Supply Contract Divestitures			0.1				0.4				0.3
Total Energy Supply Obligations		$	8.5			$	9.6			$	10.8

Deferred Compensation Plan [Member]

Fair Value of Marketable Securities

		June 30,								December 31,
Fair Value of Marketable Securities ($ millions)		2020				2019				2019
Equity Funds		$	0.1			$	—			$	0.1
Money Market Funds			0.3				0.1				0.1
Total Marketable Securities		$	0.4			$	0.1			$	0.2

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