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v3.20.4

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Components of Gas and Electric Operating Revenue | In the following tables, revenue is classified by the types of goods/services rendered and market/customer type.
|  | Twelve Months Ended December 31, 2020 |
Gas and Electric Operating Revenues (millions): |  | Gas |  |  | Electric |  |  | Total |
Billed and Unbilled Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 73.1 |  |  | $ | 128.7 |  |  | $ | 201.8 |
Commercial & Industrial |  |  | 104.5 |  |  |  | 91.4 |  |  |  | 195.9 |
Other |  |  | 7.6 |  |  |  | 6.6 |  |  |  | 14.2 |
Total Billed and Unbilled Revenue |  |  | 185.2 |  |  |  | 226.7 |  |  |  | 411.9 |
Rate Adjustment Mechanism Revenue |  |  | 6.2 |  |  |  | 0.5 |  |  |  | 6.7 |
Total Gas and Electric Operating Revenues |  | $ | 191.4 |  |  | $ | 227.2 |  |  | $ | 418.6 |
|  | Twelve Months Ended December 31, 2019 |
Gas and Electric Operating Revenues (millions): |  | Gas |  |  | Electric |  |  | Total |
Billed and Unbilled Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 81.4 |  |  | $ | 121.5 |  |  | $ | 202.9 |
Commercial & Industrial |  |  | 120.1 |  |  |  | 93.8 |  |  |  | 213.9 |
Other |  |  | 10.6 |  |  |  | 7.8 |  |  |  | 18.4 |
Total Billed and Unbilled Revenue |  |  | 212.1 |  |  |  | 223.1 |  |  |  | 435.2 |
Rate Adjustment Mechanism Revenue |  |  | (8.7 | ) |  |  | 10.8 |  |  |  | 2.1 |
Total Gas and Electric Operating Revenues |  | $ | 203.4 |  |  | $ | 233.9 |  |  | $ | 437.3 |
|  | Twelve Months Ended December 31, 2018 |
Gas and Electric Operating Revenues (millions): |  | Gas |  |  | Electric |  |  | Total |
Billed and Unbilled Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 81.4 |  |  | $ | 123.6 |  |  | $ | 205.0 |
Commercial & Industrial |  |  | 119.7 |  |  |  | 96.4 |  |  |  | 216.1 |
Other |  |  | 9.6 |  |  |  | 8.7 |  |  |  | 18.3 |
Total Billed and Unbilled Revenue |  |  | 210.7 |  |  |  | 228.7 |  |  |  | 439.4 |
Rate Adjustment Mechanism Revenue |  |  | 5.4 |  |  |  | (5.4 | ) |  |  | — |
Total Gas and Electric Operating Revenues |  | $ | 216.1 |  |  | $ | 223.3 |  |  | $ | 439.4 |
Components of Accrued Revenue |
Accrued Revenue (millions) |  | December 31, |
| 2020 |  |  | 2019 |
Regulatory Assets—Current |  | $ | 37.3 |  |  | $ | 35.8 |
Unbilled Revenues |  |  | 13.6 |  |  |  | 14.2 |
Total Accrued Revenue |  | $ | 50.9 |  |  | $ | 50.0 |
Components of Exchange Gas Receivable |
Exchange Gas Receivable (millions) |  | December 31, |
| 2020 |  |  | 2019 |
Northern Utilities |  | $ | 4.4 |  |  | $ | 5.5 |
Fitchburg |  |  | 0.5 |  |  |  | 0.6 |
Total Exchange Gas Receivable |  | $ | 4.9 |  |  | $ | 6.1 |
Components of Gas Inventory | The following table shows the components of Gas Inventory as of December 31, 2020 and 2019.
Gas Inventory (millions) |  | December 31, |
| 2020 |  |  | 2019 |
Natural Gas |  | $ | 0.2 |  |  | $ | 0.4 |
Propane |  |  | 0.3 |  |  |  | 0.3 |
Liquefied Natural Gas & Other |  |  | 0.1 |  |  |  | 0.1 |
Total Gas Inventory |  | $ | 0.6 |  |  | $ | 0.8 |
Regulatory Assets |
Regulatory Assets consist of the following (millions) |  | December 31, |
| 2020 |  |  | 2019 |
Retirement Benefits |  | $ | 103.7 |  |  | $ | 88.9 |
Energy Supply & Other Rate Adjustment Mechanisms |  |  | 34.1 |  |  |  | 31.0 |
Deferred Storm Charges |  |  | 4.1 |  |  |  | 5.6 |
Environmental |  |  | 5.2 |  |  |  | 7.2 |
Income Taxes |  |  | 3.4 |  |  |  | 4.2 |
Other Deferred Charges |  |  | 14.2 |  |  |  | 10.9 |
Total Regulatory Assets |  |  | 164.7 |  |  |  | 147.8 |
Less: Current Portion of Regulatory Assets (1) |  |  | 37.3 |  |  |  | 35.8 |
Regulatory Assets—noncurrent |  | $ | 127.4 |  |  | $ | 112.0 |
| ( 1) | Reflects amounts included in the Accrued Revenue on the Company’s Consolidated Balance Sheets.
Regulatory Liabilities |
Regulatory Liabilities consist of the following (millions) |  | December 31, |
| 2020 |  |  | 2019 |
Rate Adjustment Mechanisms |  | $ | 4.1 |  |  | $ | 6.0 |
Income Taxes |  |  | 45.5 |  |  |  | 47.6 |
Other |  |  | 0.2 |  |  |  | 0.4 |
Total Regulatory Liabilities |  |  | 49.8 |  |  |  | 54.0 |
Less: Current Portion of Regulatory Liabilities |  |  | 5.5 |  |  |  | 7.4 |
Regulatory Liabilities—noncurrent |  | $ | 44.3 |  |  | $ | 46.6 |
Fair Value of Marketable Securities |
Fair Value of Marketable Securities (millions) |  | December 31, |
|  | 2020 |  |  | 2019 |
Money Market Funds |  | $ | 5.7 |  |  | $ | 5.6 |
Total Marketable Securities |  | $ | 5.7 |  |  | $ | 5.6 |
Components of Energy Supply Obligations |
|  | December 31, |
Energy Supply Obligations consist of the following: (millions) |  | 2020 |  |  | 2019 |
Current: |  |  |  |  |  |  |  |
Exchange Gas Obligation |  | $ | 4.4 |  |  | $ | 5.5 |
Renewable Energy Portfolio Standards |  |  | 5.7 |  |  |  | 4.7 |
Power Supply Contract Divestitures |  |  | 0.3 |  |  |  | 0.3 |
Total Energy Supply Obligations—Current |  |  | 10.4 |  |  |  | 10.5 |
Noncurrent: |  |  |  |  |  |  |  |
Power Supply Contract Divestitures |  |  | — |  |  |  | 0.3 |
Total Energy Supply Obligations |  | $ | 10.4 |  |  | $ | 10.8 |
Deferred Compensation Plan [Member] |
Components of Energy Supply Obligations |
Fair Value of Marketable Securities (millions) |  | December 31, |
|  | 2020 |  |  | 2019 |
Equity Funds |  | $ | 0.2 |  |  | $ | 0.1 |
Money Market Funds |  |  | 0.3 |  |  |  | 0.1 |
Total Marketable Securities |  | $ | 0.5 |  |  | $ | 0.2 |

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