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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2021

Components of Gas and Electric Operating Revenue

		Three Months Ended September 30, 2021
Gas and Electric Operating Revenues ($ millions):		Gas				Electric				Total
Billed and Unbilled Revenue:
Residential		$	7.9			$	35.0			$	42.9
C&I			14.4				26.8				41.2
Other			0.8				3.2				4.0
Total Billed and Unbilled Revenue			23.1				65.0				88.1
Rate Adjustment Mechanism Revenue			9.5				0.5				10.0
Total Gas and Electric Operating Revenues		$	32.6			$	65.5			$	98.1
		Three Months Ended September 30, 2020
Gas and Electric Operating Revenues ($ millions):		Gas				Electric				Total
Billed and Unbilled Revenue:
Residential		$	7.0			$	35.3			$	42.3
C&I			11.6				24.1				35.7
Other			1.4				1.4				2.8
Total Billed and Unbilled Revenue			20.0				60.8				80.8
Rate Adjustment Mechanism Revenue			7.5				(0.9	)			6.6
Total Gas and Electric Operating Revenues		$	27.5			$	59.9			$	87.4
		Nine Months Ended September 30, 2021
Gas and Electric Operating Revenues ($ millions):		Gas				Electric				Total
Billed and Unbilled Revenue:
Residential		$	60.5			$	104.0			$	164.5
C&I			86.2				78.2				164.4
Other			7.6				6.9				14.5
Total Billed and Unbilled Revenue			154.3				189.1				343.4
Rate Adjustment Mechanism Revenue			(3.0	)			(6.9	)			(9.9	)
Total Gas and Electric Operating Revenues		$	151.3			$	182.2			$	333.5
		Nine Months Ended September 30, 2020
Gas and Electric Operating Revenues ($ millions):		Gas				Electric				Total
Billed and Unbilled Revenue:
Residential		$	52.4			$	99.9			$	152.3
C&I			72.9				68.7				141.6
Other			5.6				4.9				10.5
Total Billed and Unbilled Revenue			130.9				173.5				304.4
Rate Adjustment Mechanism Revenue			0.5				(3.2	)			(2.7	)
Total Gas and Electric Operating Revenues		$	131.4			$	170.3			$	301.7

Allowance for Doubtful Accounts Included in Accounts Receivable Net

($ millions)
		September 30,								December 31,
		2021				2020				2020
Allowance for Doubtful Accounts		$	4.3			$	1.6			$	3.3

Components of Accrued Revenue

The following table shows the components of Accrued Revenue as of September 30, 2021, September 30, 2020 and December 31, 2020.

		September 30,								December 31,
Accrued Revenue ($ millions)		2021				2020				2020
Regulatory Assets – Current		$	30.6			$	31.7			$	37.3
Unbilled Revenues			8.0				7.4				13.6
Total Accrued Revenue		$	38.6			$	39.1			$	50.9

Components of Exchange Gas Receivable

		September 30,								December 31,
Exchange Gas Receivable ($ millions)		2021				2020				2020
Northern Utilities		$	9.7			$	6.0			$	4.4
Fitchburg			0.8				0.5				0.5
Total Exchange Gas Receivable		$	10.5			$	6.5			$	4.9

Components of Gas Inventory

		September 30,								December 31,
Gas Inventory ($ millions)		2021				2020				2020
Natural Gas		$	0.4			$	0.2			$	0.2
Propane			0.4				0.3				0.3
Liquefied Natural Gas & Other			0.1				0.1				0.1
Total Gas Inventory		$	0.9			$	0.6			$	0.6

Regulatory Assets

		September 30,								December 31,
Regulatory Assets consist of the following ($ millions)		2021				2020				2020
Retirement Benefits		$	107.0			$	81.0			$	103.7
Energy Supply & Other Rate Adjustment Mechanisms			27.3				28.9				34.1
Deferred Storm Charges			3.4				4.4				4.1
Environmental			4.8				6.1				5.2
Income Taxes			2.8				3.6				3.4
Other Deferred Charges			17.7				12.1				14.2
Total Regulatory Assets		$	163.0			$	136.1			$	164.7
Less: Current Portion of Regulatory Assets(1)			30.6				31.7				37.3
Regulatory Assets – noncurrent		$	132.4			$	104.4			$	127.4

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

Regulatory Liabilities

		September 30,								December 31,
Regulatory Liabilities consist of the following ($ millions)		2021				2020				2020
Income Taxes (Note 8)		$	44.6			$	45.8			$	45.5
Rate Adjustment Mechanisms			11.3				9.2				4.1
Other			0.1				0.3				0.2
Total Regulatory Liabilities		$	56.0			$	55.3			$	49.8
Less: Current Portion of Regulatory Liabilities			13.1				10.6				5.5
Regulatory Liabilities - noncurrent		$	42.9			$	44.7			$	44.3

Fair Value of Marketable Securities

Changes in the fair value of these investments are recorded in Other Expense, Net.

		September 30,								December 31,
Fair Value of Marketable Securities ($ millions)		2021				2020				2020
Money Market Fund		$	5.6			$	5.7			$	5.7
Total Marketable Securities		$	5.6			$	5.7			$	5.7

Components of Energy Supply Obligations

		September 30,								December 31,
Energy Supply Obligations ($ millions)		2021				2020				2020
Exchange Gas Obligation		$	9.7			$	6.0			$	4.4
Renewable Energy Portfolio Standards			6.4				5.8				5.7
Power Supply Contract Divestitures			—				0.3				0.3
Total Energy Supply Obligations		$	16.1			$	12.1			$	10.4

Deferred Compensation Plan [Member]

Fair Value of Marketable Securities

Changes in the fair value of these investments are recorded in Other Expense, Net.

		September 30,								December 31,
Fair Value of Marketable Securities ($ millions)		2021				2020				2020
Equity Funds		$	0.1			$	0.2			$	0.2
Money Market Funds			0.4				0.3				0.3
Total Marketable Securities		$	0.5			$	0.5			$	0.5

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