v3.26.1
CREDIT LOSSES (Tables)
 6 Months Ended
Jun. 30, 2026
Credit Loss [Abstract]  
Schedule of gross receivables and related allowances for credit losses
We have included a table below that shows our gross third-party receivable balances and related allowance for credit losses.
(in millions)June 30, 2026December 31, 2025
Accounts receivable and unbilled revenues $241.8 $301.7 
Allowance for credit losses7.8 7.8 
Accounts receivable and unbilled revenues, net (1)
$234.0 $293.9 
Total accounts receivable, net – past due greater than 90 days (1)
$8.1 $6.3 
Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1)
94.5 %95.7 %

(1)Our exposure to credit losses for certain regulated utility customers is mitigated by a regulatory mechanism we have in place. Specifically, our residential tariffs include a mechanism for cost recovery or refund of uncollectible expense based on the difference between actual uncollectible write-offs and the amounts recovered in rates. As a result, at June 30, 2026, $128.4 million, or 54.9%, of our net accounts receivable and unbilled revenues balance had regulatory protections in place to mitigate the exposure to credit losses.
Rollforward of the allowances for credit losses
A roll-forward of the allowance for credit losses is included below:
Three Months Ended June 30
(in millions)20262025
Balance at April 1$8.3 $7.5 
Provision for credit losses4.2 5.0 
Provision for credit losses deferred for future recovery or refund(1.9)(2.5)
Write-offs charged against the allowance(3.8)(3.9)
Recoveries of amounts previously written off1.0 1.3 
Balance at June 30
$7.8 $7.4 

Six Months Ended June 30
(in millions)20262025
Balance at January 1$7.8 $8.6 
Provision for credit losses8.3 8.5 
Provision for credit losses deferred for future recovery or refund(3.1)(5.3)
Write-offs charged against the allowance(7.8)(7.0)
Recoveries of amounts previously written off2.6 2.6 
Balance at June 30
$7.8 $7.4