v3.26.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block] The following tables display our revenue by major source based on product and service type for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31, 2026Three Months Ended March 31, 2025
(in millions)Regulated EnergyUnregulated EnergyOther Businesses and EliminationsTotalRegulated EnergyUnregulated EnergyOther Businesses and EliminationsTotal
Energy distribution
Delaware natural gas distribution$54.1 $— $— $54.1 $42.3 $— $— $42.3 
FPU natural gas distribution
58.9 — — 58.9 51.3 — — 51.3 
Florida City Gas65.6 — — 65.6 43.6 — — 43.6 
FPU electric distribution27.6 — — 27.6 23.2 — — 23.2 
Maryland natural gas distribution (1)
28.4 — — 28.4 25.3 — — 25.3 
Total energy distribution234.6 — — 234.6 185.7 — — 185.7 
Energy transmission
Aspire Energy— 26.3 — 26.3 — 19.2 — 19.2 
Aspire Energy Express0.4 — — 0.4 0.4 — — 0.4 
Eastern Shore24.2 — — 24.2 22.7 — — 22.7 
Peninsula Pipeline16.8 — — 16.8 10.0 — — 10.0 
Total energy transmission41.4 26.3 — 67.7 33.1 19.2 — 52.3 
Energy generation
Eight Flags— 5.9 — 5.9 — 4.7 — 4.7 
Propane operations
Propane delivery operations— 73.3 — 73.3 — 74.7 — 74.7 
CNG / RNG Services
Marlin Gas Services— 7.4 — 7.4 — 7.2 — 7.2 
Other RNG— 0.9 — 0.9 — 1.0 — 1.0 
Total CNG / RNG Services— 8.3 — 8.3 — 8.2 — 8.2 
Other Businesses and Eliminations
Eliminations(26.7)(0.1)(9.9)(36.7)(19.2)(0.1)(7.6)(26.9)
Total operating revenues (2)
$249.3 $113.7 $(9.9)$353.1 $199.6 $106.7 $(7.6)$298.7 
(1) In accordance with the Maryland PSC approval of our natural gas base rate proceeding, effective April 2025, our natural gas distribution businesses in Maryland (Maryland natural gas division, Sandpiper Energy and Elkton Gas) are now consolidated for rate-making and other purposes and are reflected on a consolidated basis for all periods presented consistent with the final rate order. See Note 5, Rates and Other Regulatory Activities, for additional information.
(2) Total operating revenues for the three months ended March 31, 2026 include other revenue (revenues from sources other than contracts with customers) of $1.5 million loss and $0.1 million for our Regulated Energy and Unregulated Energy segments, respectively, and $0.5 million loss and $0.1 million for our Regulated Energy and Unregulated Energy segments, respectively, for the three months ended March 31, 2025. The sources of other revenues include revenue from alternative revenue programs related to revenue normalization for the Maryland natural gas operations and late fees.
Contract with Customer, Asset and Liability [Table Text Block] The balances of our trade receivables, contract assets, and contract liabilities as of December 31, 2025 and March 31, 2026 were as follows:
Trade ReceivablesContract Assets (Current)Contract Assets (Non-current)Contract Liabilities (Current)
(in millions)
Balance at 12/31/2025$92.2 $— $2.9 $1.3 
Balance at 3/31/2026
108.6 — 2.8 1.0 
Increase (Decrease)$16.4 $— $(0.1)$(0.3)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] Revenue for these businesses for the remaining performance obligations, at March 31, 2026, are expected to be recognized as follows:
(in millions)2026202720282029203020312032 and thereafter
Eastern Shore and Peninsula Pipeline$29.5 $36.5 $34.1 $31.4 $25.3 $18.4 $142.5 
Natural gas distribution operations9.3 9.7 9.8 9.7 9.7 4.9 24.7 
FPU electric distribution0.7 0.9 0.9 0.9 0.9 0.9 — 
Total revenue contracts with remaining performance obligations$39.5 $47.1 $44.8 $42.0 $35.9 $24.2 $167.2