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Regulatory Assets and Liabilities | 9 Months Ended
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Sep. 30, 2015
Regulatory Assets and Liabilities Disclosure [Abstract] |
Regulatory Assets and Liabilities | Regulatory Assets and Liabilities Regulatory Assets SCE's regulatory assets included on the consolidated balance sheets are:
(in millions) | September 30, 2015 |  | December 31, 2014
Current: |  |  |
Regulatory balancing accounts | $ | 287 |  |  | $ | 1,088 |
Energy derivatives | 167 |  |  | 159 |
Other | 19 |  |  | 7 |
Total current | 473 |  |  | 1,254 |
Long-term: |  |  |
Deferred income taxes, net | 3,949 |  |  | 3,405 |
Pensions and other postretirement benefits | 1,206 |  |  | 1,218 |
Energy derivatives | 990 |  |  | 850 |
Unamortized investments, net | 198 |  |  | 255 |
San Onofre | 1,130 |  |  | 1,288 |
Unamortized loss on reacquired debt | 205 |  |  | 201 |
Regulatory balancing accounts | 58 |  |  | 44 |
Other | 385 |  |  | 351 |
Total long-term | 8,121 |  |  | 7,612 |
Total regulatory assets | $ | 8,594 |  |  | $ | 8,866 |
Regulatory Liabilities SCE's regulatory liabilities included on the consolidated balance sheets are:
(in millions) | September 30, 2015 |  | December 31, 2014
Current: |  |  |
Regulatory balancing accounts | $ | 547 |  |  | $ | 380 |
Other | 341 |  |  | 21 |
Total current | 888 |  |  | 401 |
Long-term: |  |  |
Costs of removal | 2,713 |  |  | 2,826 |
Recoveries in excess of ARO liabilities 1 | 1,393 |  |  | 1,956 |
Regulatory balancing accounts | 1,081 |  |  | 1,083 |
Other | 78 |  |  | 24 |
Total long-term | 5,265 |  |  | 5,889 |
Total regulatory liabilities | $ | 6,153 |  |  | $ | 6,290 |
1 | Represents the cumulative differences between ARO expenses and amounts collected in rates primarily for the decommissioning of the SCE's nuclear generation facilities. Decommissioning costs recovered through rates are primarily placed in nuclear decommissioning trusts. This regulatory liability also represents the deferral of realized and unrealized gains and losses on the nuclear decommissioning trust investments. See Note 9.
As discussed in Note 1, SCE has recognized CPUC-related revenue largely based on the revenue requirement set forth in the proposed 2015 GRC decision. As a result of the proposed decision, SCE recorded a current regulatory liability to refund customers $318 million of the 2014 authorized base revenue requirements included in customer rates for the nine months ended September 30, 2015. The 2015 GRC proposed decision includes a reduction in 2015 base rate revenue requirement of approximately $40 million through a rate base adjustment of $344 million as determined by the CPUC to achieve a benefit to customers equal to the increased future customer costs attributable to SCE's election related to 2012 – 2014 tax repairs. In SCE's filed comments, it requested a modification to eliminate the rate base adjustment on the basis of a number of legal errors including, among other items, that the rate base adjustment affecting the revenue requirements is prohibited as retroactive rate making. As of September 30, 2015, SCE had recorded a regulatory asset, included in the table above, of approximately $380 million related to future cash taxes associated with incremental 2012 – 2014 repair deductions. SCE has not recorded the potential impact from the rate base adjustment or 2015 incremental repair deductions pending a final decision that would provide clarity on the tax accounting treatment. SCE cannot predict the outcome of this matter. If the final decision mandates future reductions in revenue requirements, SCE would reduce 2015 revenue by the amount determined in the final decision and may record a charge against income to write down some or all of the above regulatory asset. Net Regulatory Balancing Accounts The following table summarizes the significant components of regulatory balancing accounts included in the above tables of regulatory assets and liabilities:
(in millions) | September 30, 2015 |  | December 31, 2014
Asset (liability) |  |  |
Energy resource recovery account | $ | (112 | ) |  | $ | 1,028 |
New system generation balancing account | (71 | ) |  | 35 |
Public purpose programs and energy efficiency programs | (754 | ) |  | (874 | )
Base rate recovery balancing account | (79 | ) |  | (5 | )
Greenhouse gas auction revenue | (142 | ) |  | (182 | )
FERC balancing accounts | 16 |  |  | (32 | )
Generator settlements | (3 | ) |  | (197 | )
Other | (138 | ) |  | (104 | )
Liability | $ | (1,283 | ) |  | $ | (331 | )

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- Definition The entire disclosure for detailed information about regulatory assets and liabilities, including current and noncurrent assets created when regulatory agencies permit the deferral of costs to the balance sheet that would otherwise be required to appear on the company's income statement and would be charged against current expenses or revenues, as well as current and noncurrent liabilities created when regulatory agencies permit. + References No definition available. + Details
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