We had the following regulatory assets and liabilities as of December 31:
|
|
|
|
|
|
|
|
2025 |
|
2024 |
|
|
(in millions) |
|
Regulatory assets |
|
|
|
|
Winter Storm Uri (a) |
$ |
50.7 |
|
$ |
109.5 |
|
Deferred energy and fuel cost adjustments (b) |
|
83.3 |
|
|
62.8 |
|
Deferred gas cost adjustments (b) |
|
10.2 |
|
|
14.5 |
|
Gas price derivatives (b) |
|
4.6 |
|
|
2.9 |
|
Deferred taxes on AFUDC (b) |
|
10.6 |
|
|
8.0 |
|
Employee benefit plans and related deferred taxes (c) |
|
87.4 |
|
|
89.0 |
|
Environmental (b) |
|
13.1 |
|
|
10.7 |
|
Loss on reacquired debt (b) |
|
14.1 |
|
|
15.7 |
|
Deferred taxes on flow-through accounting (b) |
|
94.8 |
|
|
87.7 |
|
Other regulatory assets (b) |
|
25.9 |
|
|
26.9 |
|
Total regulatory assets |
|
394.7 |
|
|
427.7 |
|
Less current regulatory assets |
|
(139.7 |
) |
|
(154.8 |
) |
Regulatory assets, non-current |
$ |
255.0 |
|
$ |
272.9 |
|
|
|
|
|
|
Regulatory liabilities |
|
|
|
|
Deferred energy and fuel cost adjustments (b) |
$ |
12.3 |
|
$ |
5.8 |
|
Deferred gas cost adjustments (b) |
|
51.5 |
|
|
62.0 |
|
Employee benefit plans and related deferred taxes (c) |
|
36.2 |
|
|
36.7 |
|
Cost of removal (b) |
|
216.5 |
|
|
197.0 |
|
Excess deferred income taxes (c) |
|
230.3 |
|
|
238.5 |
|
Colorado renewable energy (b) |
|
33.2 |
|
|
24.1 |
|
Other regulatory liabilities (c) |
|
8.2 |
|
|
4.6 |
|
Total regulatory liabilities |
|
588.2 |
|
|
568.7 |
|
Less current regulatory liabilities |
|
(99.9 |
) |
|
(94.1 |
) |
Regulatory liabilities, non-current |
$ |
488.3 |
|
$ |
474.6 |
|
(a)Timing of Winter Storm Uri incremental cost recovery and associated carrying costs vary by jurisdiction. See further information below. (b)Recovery/repayment of costs, but we are not allowed a rate of return. (c)In addition to recovery or repayment of costs, we are allowed a return on a portion of this amount or a reduction in rate base.
|