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85
For the Year Ended December 31, 2010
CL&P PSNH
(Millions of Dollars)
Commodit
y
and Capacity
Contracts
Required By
Regulation
Other
Commodity
Price and
Supply Risk
Management Total Level 3
Other
Commodity
Price and
Supply Risk
Management
Derivatives, Net:
Fair Value as of Beginning of Year $ (720.3) $ 4.5 $ (715.8) $ 0.4
Net Realized/Unrealized Gains/(Losses) Included in:
Regulatory Assets/Liabilities (74.0) (6.2) (80.2) (0.2)
Purchases, Issuances and Settlements (13.7) 3.6 (10.1) (0.2)
Fair Value as of End of Year $ (808.0) $ 1.9 $ (806.1) $ -
For the Year Ended December 31,
2009
(Millions of Dollars) NU CL&P PSNH
Derivatives, Net:
Fair Value as of Beginning of Year $ (669.2) $ (611.1) $ 4.1
Net Realized/Unrealized Gains/(Losses) Included in:
Net Income
(1)
6.2 - -
Regulatory Assets/Liabilities (114.3) (107.8) (3.6)
Purchases, Issuances and Settlements 16.1 3.1 (0.1)
Fair Value as of End of Year $ (761.2) $ (715.8) $ 0.4
Period Change in Unrealized Gains Included in Net
Income Relating to Items Held as of End of Year $ 6.3 $ - $ -
(1) Realized and unrealized gains and losses on derivatives included in Net Income relate to the remaining NU Enterprises' marketing
contracts and are reported in Fuel, Purchased and Net Interchange Power on the accompanying consolidated statements of
income.
5. MARKETABLE SECURITIES (NU, WMECO)
The Company elected to record exchange traded funds and mutual funds purchased during 2009 in the NU supplemental benefit trust
at fair value in order to reflect the economic effect of changes in fair value of all newly purchased equity securities in Net Income.
These equity securities, classified as Level 1 in the fair value hierarchy, totaled $42.2 million and $35.3 million as of December 31,
2010 and 2009, respectively, and are included in current Marketable Securities. Gains on these securities of $6.9 million and $6.6
million for the years ended December 31, 2010 and 2009, respectively, were recorded in Other Income, Net on the accompanying
consolidated statements of income. Dividend income is recorded when dividends are declared and are recorded in Other Income, Net
on the accompanying consolidated statements of income. All other marketable securities are accounted for as available-for-sale.
Available-for-Sale Securities: The following is a summary by security type of NU's available-for-sale securities held in the NU
supplemental benefit trust and WMECO's spent nuclear fuel trust. These securities are recorded at fair value and included in current
and long-term portions of Marketable Securities on the accompanying consolidated balance sheets.
As of December 31, 2010
(Millions of Dollars)
Amortized
Cost
Pre-Tax
Unrealized
Gains (1)
Pre-Tax
Unrealized
Losses (1)
Fair Value
NU Supplemental Benefit Trust
U.S. Government Issued Debt Securities
(Agency and Treasury) $ 11.7 $ 0.2 $ (0.1) $ 11.8
Corporate Debt Securities 6.5 0.5 (0.1) 6.9
A
sset Backed Debt Securities 6.5 0.4 - 6.9
Municipal Bonds 0.7 - - 0.7
Money Market Funds and Other 3.7 0.2 - 3.9
Total NU Supplemental Benefit Trust $ 29.1 $ 1.3 $ (0.2) $ 30.2
WMECO Spent Nuclear Fuel Trust
U.S. Government Issued Debt Securities
(Agency and Treasury) $ 6.0 $ - $ - $ 6.0
Corporate Debt Securities 15.6 - - 15.6
A
sset Backed Debt Securities 4.8 - (0.1) 4.7
Municipal Bonds 15.4 - - 15.4
Money Market Funds and Other 15.4 - - 15.4
Total WMECO Spent Nuclear Fuel Trust $ 57.2 $ - $ (0.1) $ 57.1
Total NU $ 86.3 $ 1.3 $ (0.3) $ 87.3