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Accounting for Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Net notional volume buy/(sell) of NRG's open derivative transactions broken out by commodity
The following table summarizes the net notional volume buy/(sell) of NRG's open derivative transactions broken out by category, excluding those derivatives that qualified for the NPNS exception, as of June 30, 2017 and December 31, 2016. Option contracts are reflected using delta volume. Delta volume equals the notional volume of an option adjusted for the probability that the option will be in-the-money at its expiration date.
 
 
Total Volume
 
 
June 30, 2017
 
December 31, 2016
Category
Units
(In millions)
Emissions
Short Ton
(2
)
 
—

Coal
Short Ton
22

 
35

Natural Gas
MMBtu
45

 
(53
)
Oil
Barrel
—

 
1

Power
MWh
24

 
7

Capacity
MW/Day
(1
)
 
(1
)
Interest
Dollars
$
3,701

 
$
3,429

Equity
Shares
1

 
1
Fair value within the derivative instrument valuation on the balance sheets
The following table summarizes the fair value within the derivative instrument valuation on the balance sheets:
 
Fair Value
 
Derivative Assets
 
Derivative Liabilities
 
June 30, 2017
 
December 31, 2016
 
June 30, 2017
 
December 31, 2016
 
(In millions)
Derivatives designated as cash flow hedges:

 
 
 


 
Interest rate contracts current
$
—

 
$
—

 
$
9


$
28

Interest rate contracts long-term
9

 
12

 
19


41

Total derivatives designated as cash flow hedges
9

 
12

 
28


69

Derivatives not designated as cash flow hedges:

 
 
 
 

 
Interest rate contracts current
4

 
—

 
21


7

Interest rate contracts long-term
26

 
37

 
46


12

Commodity contracts current
640

 
1,067

 
681


1,057

Commodity contracts long-term
191

 
132

 
228


231

Total derivatives not designated as cash flow hedges
861

 
1,236

 
976


1,307

Total derivatives
$
870


$
1,248

 
$
1,004


$
1,376
Offsetting of derivatives by counterparty master agreement level and collateral received or paid
The following table summarizes the offsetting of derivatives by counterparty master agreement level and collateral received or paid:
 
 
Gross Amounts Not Offset in the Statement of Financial Position
 
 
Gross Amounts of Recognized Assets / Liabilities
 
Derivative Instruments
 
Cash Collateral (Held) / Posted
 
Net Amount
As of June 30, 2017
 
(In millions)
Commodity contracts:
 
 
 
 
 
 
 
 
Derivative assets
 
$
831

 
$
(730
)
 
$
(2
)
 
$
99

Derivative liabilities
 
(909
)
 
730

 
121

 
(58
)
Total commodity contracts
 
(78
)
 
—

 
119

 
41

Interest rate contracts:
 
 
 
 
 
 
 
 
Derivative assets
 
39

 
(2
)
 
—

 
37

Derivative liabilities
 
(95
)
 
2

 
—

 
(93
)
Total interest rate contracts
 
(56
)
 
—

 
—

 
(56
)
Total derivative instruments
 
$
(134
)
 
$
—

 
$
119

 
$
(15
)
 
 
Gross Amounts Not Offset in the Statement of Financial Position
 
 
Gross Amounts of Recognized Assets / Liabilities
 
Derivative Instruments
 
Cash Collateral (Held) / Posted
 
Net Amount
As of December 31, 2016
 
(In millions)
Commodity contracts:
 
 
 
 
 
 
 

Derivative assets
 
$
1,199

 
$
(1,021
)
 
$
(13
)
 
$
165

Derivative liabilities
 
(1,288
)
 
1,021

 
13

 
(254
)
Total commodity contracts
 
(89
)
 
—

 
—

 
(89
)
Interest rate contracts:
 
 
 
 
 
 
 

Derivative assets
 
49

 
(4
)
 
—

 
45

Derivative liabilities
 
(88
)
 
4

 
—

 
(84
)
Total interest rate contracts
 
(39
)
 
—

 
—

 
(39
)
Total derivative instruments
 
$
(128
)
 
$
—

 
$
—


$
(128
)
Effects of ASC 815 on the Company's accumulated OCI balance attributable to cash flow hedge derivatives, net of tax
The following table summarizes the effects of ASC 815 on the Company's accumulated OCI balance attributable to cash flow hedge derivatives, net of tax:
 
Interest Rate Contracts
 
Three months ended June 30,
 
Six months ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(In millions)
Accumulated OCI beginning balance
$
(61
)
 
$
(150
)
 
$
(66
)
 
$
(101
)
Reclassified from accumulated OCI to income:
 
 
 
 
 
 
 
Due to realization of previously deferred amounts
3

 
7

 
6

 
10

Mark-to-market of cash flow hedge accounting contracts
(9
)
 
(22
)
 
(7
)
 
(74
)
Accumulated OCI ending balance, net of $16, and $26 tax
$
(67
)
 
$
(165
)

$
(67
)

$
(165
)
Losses expected to be realized from OCI during the next 12 months, net of $3 tax
$
15

 

 
$
15

 
Pre-tax effects of economic hedges that have not been designated as cash flow hedges, ineffectiveness on cash flow hedges and trading activity on the Company's statement of operations
The following table summarizes the pre-tax effects of economic hedges that have not been designated as cash flow hedges, ineffectiveness on cash flow hedges and trading activity on the Company's statement of operations. The effect of energy commodity contracts is included within operating revenues and cost of operations and the effect of interest rate contracts is included in interest expense.
 
Three months ended June 30,
 
Six months ended June 30,
 
2017
 
2016
 
2017
 
2016
Unrealized mark-to-market results
(In millions)
Reversal of previously recognized unrealized losses/(gains) on settled positions related to economic hedges
$
22

 
$
(18
)
 
$
25

 
$
(45
)
Reversal of acquired loss/(gain) positions related to economic hedges
1

 
(2
)
 
1

 
(4
)
Net unrealized gains/(losses) on open positions related to economic hedges
36

 
(13
)
 
15

 
77

Total unrealized mark-to-market gains/(losses) for economic hedging activities
59

 
(33
)
 
41

 
28

Reversal of previously recognized unrealized (gains)/losses on settled positions related to trading activity
(4
)
 
2

 
(19
)
 
10

Net unrealized gains on open positions related to trading activity
16

 
11

 
17

 
22

Total unrealized mark-to-market gains/(losses) for trading activity
12

 
13

 
(2
)
 
32

Total unrealized gains/(losses)
$
71

 
$
(20
)
 
$
39

 
$
60

 
Three months ended June 30,
 
Six months ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(In millions)
Unrealized gains/(losses) included in operating revenues
$
53

 
$
(460
)
 
$
157

 
$
(390
)
Unrealized gains/(losses) included in cost of operations
18

 
440

 
(118
)
 
450

Total impact to statement of operations — energy commodities
$
71

 
$
(20
)
 
$
39

 
$
60

Total impact to statement of operations — interest rate contracts
$
(24
)
 
$
(7
)
 
$
(19
)
 
$
(18
)