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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2016
Fair Value of Financial Instruments Disclosure [Abstract]  
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
The following tables quantify the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of December 31, 2016 and 2015:
 
Significant Unobservable Inputs
 
December 31, 2016
 
Fair Value
 
 
 
Input/Range
 
Assets
 
Liabilities
 
Valuation Technique
 
Significant Unobservable Input
 
Low
 
High
 
Weighted Average
 
(In millions)
 
 
 
 
 
 
 
 
 
 
Power Contracts
$
40

 
$
107

 
Discounted Cash Flow
 
Forward Market Price (per MWh)
 
$
11

 
$
104

 
$
31

Coal Contracts
—

 
1

 
Discounted Cash Flow
 
Forward Market Price (per ton)
 
42

 
51

 
45

FTRs
52

 
53

 
Discounted Cash Flow
 
Auction Prices (per MWh)
 
(22
)
 
17

 
—

 
$
92

 
$
161

 
 
 
 
 
 
 
 
 
 

 
Significant Unobservable Inputs
 
December 31, 2015
 
Fair Value
 
 
 
Input/Range
 
Assets
 
Liabilities
 
Valuation Technique
 
Significant Unobservable Input
 
Low
 
High
 
Weighted Average
 
(In millions)
 
 
 
 
 
 
 
 
 
 
Power Contracts
$
86

 
$
100

 
Discounted Cash Flow
 
Forward Market Price (per MWh)
 
$
10

 
$
92

 
$
27

Coal Contracts
—

 
12

 
Discounted Cash Flow
 
Forward Market Price (per ton)
 
28

 
45

 
35

FTRs
63

 
70

 
Discounted Cash Flow
 
Auction Prices (per MWh)
 
(98
)
 
87

 
—

 
$
149

 
$
182

 
 
 
 
 
 
 
 
 
 
Estimated carrying amounts and fair values of NRG's recorded financial instruments not carried at fair market value
The estimated carrying values and fair values of the Company's recorded financial instruments not carried at fair market value are as follows:
 
As of December 31,
 
2016
 
2015
 
Carrying Amount
 
Fair Value
 
Carrying Amount
 
Fair Value
 
(In millions)
Assets
 
 
 
 
 
 
 
Notes receivable (a)
$
34

 
$
34

 
$
73

 
$
73

Liabilities
 
 
 
 
 
 
 
Long-term debt, including current portion (b)
$
19,406

 
$
18,566

 
$
19,620

 
$
18,263


(a) Includes the current portion of notes receivable which is recorded in prepayments and other current assets on the Company's consolidated balance sheets.
(b) Excludes deferred financing costs, which are recorded as a reduction to long-term debt on the Company's consolidated balance sheets.
The fair value of the Company's publicly-traded long-term debt is based on quoted market prices and is classified as Level 2 within the fair value hierarchy. The fair value of debt securities, non-publicly traded long-term debt, and certain notes receivable of the Company are based on expected future cash flows discounted at market interest rates or current interest rates for similar instruments with equivalent credit quality and are classified as Level 3 within the fair value hierarchy. The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of December 31, 2016 and 2015:
 
As of December 31, 2016
 
As of December 31, 2015
 
Level 2
 
Level 3
 
Level 2
 
Level 3
 
(In millions)
Long-term debt, including current portion
$
11,055

 
$
7,511

 
$
11,028

 
$
7,235
Assets and liabilities measured and recorded at fair value on the consolidated balance sheets on a recurring basis
The following tables present assets and liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis and their level within the fair value hierarchy:
 
As of December 31, 2016
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(In millions)
Investments in securities (classified within other non-current assets):
 
 
 
 
 
 
 
Debt securities
$
—

 
$
—

 
$
17

 
$
17

Available-for-sale securities
10

 
—

 
—

 
10

Other (a)
10

 
—

 
—

 
10

Nuclear trust fund investments:
 
 
 
 
 
 
 
Cash and cash equivalents
25

 
—

 
—

 
25

U.S. government and federal agency obligations
72

 
1

 
—

 
73

Federal agency mortgage-backed securities
—

 
62

 
—

 
62

Commercial mortgage-backed securities
—

 
17

 
—

 
17

Corporate debt securities
—

 
84

 
—

 
84

Equity securities
292

 
—

 
54

 
346

Foreign government fixed income securities
—

 
3

 
—

 
3

Other trust fund investments:
 
 
 
 
 
 
 
U.S. government and federal agency obligations
1

 
—

 
—

 
1

Derivative assets:
 
 
 
 
 
 
 
Commodity contracts
559

 
551

 
92

 
1,202

Interest rate contracts
—

 
49

 
—

 
49

Total assets
$
969

 
$
767

 
$
163

 
$
1,899

Derivative liabilities:
 
 
 
 
 
 
 
Commodity contracts
$
494

 
$
635

 
$
161

 
$
1,290

Interest rate contracts
—

 
88

 
—

 
88

Total liabilities
$
494

 
$
723

 
$
161

 
$
1,378

(a)
Consists primarily of mutual funds held in a rabbi trust for non-qualified deferred compensation plans for certain key and highly compensated employees and a total return swap that does not meet the definition of a derivative.
 
As of December 31, 2015
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(In millions)
Investments in securities (classified within other non-current assets):
 
 
 
 
 
 

Debt securities
$
—

 
$
—

 
$
17

 
$
17

Available-for-sale securities
9

 
—

 
—

 
9

Other (a)
14

 
—

 
—

 
14

Nuclear trust fund investments:
 
 
 
 
 
 


Cash and cash equivalents
6

 
—

 
—

 
6

U.S. government and federal agency obligations
54

 
1

 
—

 
55

Federal agency mortgage-backed securities
—

 
59

 
—

 
59

Commercial mortgage-backed securities
—

 
25

 
—

 
25

Corporate debt securities
—

 
81

 
—

 
81

Equity securities
280

 
—

 
54

 
334

Foreign government fixed income securities
—

 
1

 
—

 
1

Other trust fund investments:
 
 
 
 
 
 
 
U.S. government and federal agency obligations
1

 
—

 
—

 
1

Derivative assets:
 
 
 
 
 
 
 
Commodity contracts
622

 
1,449

 
149

 
2,220

Total assets
$
986

 
$
1,616

 
$
220

 
$
2,822

Derivative liabilities:
 
 
 
 
 
 


Commodity contracts
$
868

 
$
1,036

 
$
182

 
$
2,086

Interest rate contracts
—

 
128

 
—

 
128

Total liabilities
$
868

 
$
1,164

 
$
182

 
$
2,214


(a)
Primarily consists of mutual funds held in a rabbi trusts for non-qualified deferred compensation plans for certain former employees and a total return swap that does not meet the definition of a derivative.
Reconciliation of beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs
The following tables reconcile, for the years ended December 31, 2016 and 2015, the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs:
 
For the Year Ended December 31, 2016
 
Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
 
Debt
Securities
 
Trust Fund
Investments
 
Derivatives (a)
 
Total
 
(In millions)
Beginning balance as of January 1, 2016
$
17

 
$
54

 
$
(33
)
 
$
38

Total gains/(losses) realized/unrealized:
 
 
 
 
 
 
 
Included in earnings
—

 
—

 
12

 
12

Included in nuclear decommissioning obligations
—

 
(1
)
 
—

 
(1
)
Purchases
—

 
1

 
(29
)
 
(28
)
Transfers into Level 3 (b)
—

 
—

 
(18
)
 
(18
)
Transfers out of Level 3 (b)
—

 
—

 
(1
)
 
(1
)
Ending balance as of December 31, 2016
$
17

 
$
54

 
$
(69
)
 
$
2

Losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of December 31, 2016
$
—

 
$
—

 
$
(14
)
 
$
(14
)
(a)
Consists of derivatives assets and liabilities, net.
(b)
Transfers in/out of Level 3 are related to the availability of external broker quotes, and are valued as of the end of the reporting period. All transfers in/out are with Level 2.
 
For the Year Ended December 31, 2015
 
Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
 
Debt
Securities
 
Other
 
Trust Fund
Investments
 
Derivatives (a)
 
Total
 
(In millions)
Beginning balance as of January 1, 2015
$
18

 
$
11

 
$
52

 
$
80

 
$
161

Total losses realized/unrealized:
 
 
 
 
 
 
 
 
 
Included in earnings
(1
)
 
(11
)
 
—

 
(100
)
 
(112
)
Included in nuclear decommissioning obligations
—

 
—

 
(2
)
 
—

 
(2
)
Purchases
—

 
—

 
4

 
(19
)
 
(15
)
Transfers into Level 3 (b)
—

 
—

 
—

 
3

 
3

 Transfer out of Level 3 (b)
—

 
—

 
—

 
3

 
3

Ending balance as of December 31, 2015
$
17

 
$
—

 
$
54

 
$
(33
)
 
$
38

Losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of December 31, 2015
$
—

 
$
—

 
$
—

 
$
(30
)
 
$
(30
)
(a)
Consists of derivatives assets and liabilities, net.
(b)
Transfers in/out of Level 3 are related to the availability of external broker quotes, and are valued as of the end of the reporting period. All transfers in/out are with Level 2.
Net counterparty credit exposure by industry sector and by counterparty credit quality
The following tables highlight net counterparty credit exposure by industry sector and by counterparty credit quality. Net counterparty credit exposure is defined as the aggregate net asset position for NRG with counterparties where netting is permitted under the enabling agreement and includes all cash flow, mark-to-market and NPNS, and non-derivative transactions. The exposure is shown net of collateral held, and includes amounts net of receivables or payables.
Category
Net Exposure (a) (b)
(% of Total)
Utilities, energy merchants, marketers and other
100

Total
100
%
Category
Net Exposure (a) (b)
(% of Total)
Investment grade
67
%
Non-Investment grade/Non-Rated
33

Total
100
%
(a)
Counterparty credit exposure excludes uranium and coal transportation contracts because of the unavailability of market prices.
(b)
The figures in the tables above exclude potential counterparty credit exposure related to RTOs, ISOs, registered commodity exchanges and certain long term contracts.
Fair Value Inputs, Sensitivity Analysis [Table Text Block]
The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of December 31, 2016 and 2015:
Significant Unobservable Input
 
Position
 
Change In Input
 
Impact on Fair Value Measurement
Forward Market Price Power/Coal
 
Buy
 
Increase/(Decrease)
 
Higher/(Lower)
Forward Market Price Power/Coal
 
Sell
 
Increase/(Decrease)
 
Lower/(Higher)
FTR Prices
 
Buy
 
Increase/(Decrease)
 
Higher/(Lower)
FTR Prices
 
Sell
 
Increase/(Decrease)
 
Lower/(Higher)