CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025		Dec. 31, 2024	Dec. 31, 2023
Cash Flows from Operating Activities
Net Income/(Loss)	$ 864		$ 1,125	$ (202)
Adjustments to reconcile net income/(loss) to cash provided by operating activities:
Depreciation of property, plant and equipment and amortization of customer relationships and other intangible assets	896		1,071	1,127
Amortization of capitalized contract costs	510		332	168
Accretion of asset retirement obligations	29		34	27
Provision for credit losses	272		314	251
Amortization of nuclear fuel	0		0	47
Amortization of financing costs and debt discounts	51		39	52
Loss/(gain) on debt extinguishment	10		382	(109)
Amortization of in-the-money contracts and emissions allowances	97		105	137
Amortization of unearned equity compensation	134		102	101
Net loss/(gain) on sale of assets and disposal of assets	25		(192)	(1,559)
Gain on proceeds from insurance recoveries for property, plant and equipment, net	(100)		0	(164)
Impairment losses	39		43	128
Changes in derivative instruments	450		(337)	2,455
Changes in current and deferred income taxes and liability for uncertain tax benefits	213		165	(92)
Changes in collateral deposits in support of risk management activities	7		245	(1,806)
Equity in and distributions from earnings of unconsolidated affiliates	(8)		(13)	(6)
Cash (used)/provided by changes in other working capital:
Accounts receivable - trade	(760)		(366)	1,004
Inventory	30		111	189
Prepayments and other current assets	(757)		(539)	(401)
Accounts payable	192		170	(1,455)
Accrued expenses and other current liabilities	28		136	360
Other assets and liabilities	(309)		(621)	(473)
Cash provided/(used) by operating activities	1,913		2,306	(221)
Cash Flows from Investing Activities
Payments for acquisitions of businesses and assets, net of cash acquired	(596)		(38)	(2,523)
Capital expenditures	(1,147)		(472)	(598)
Proceeds from sales of assets, net of cash disposed	6		501	2,007
Net purchases of emissions allowances	(1)		(18)	(24)
Proceeds from insurance recoveries for property, plant and equipment, net	100		3	240
Investments in nuclear decommissioning trust fund securities	0		0	(367)
Proceeds from the sale of nuclear decommissioning trust fund securities	0		0	355
Cash used by investing activities	(1,638)		(24)	(910)
Cash Flows from Financing Activities
Proceeds from issuance of preferred stock, net of fees	0		0	635
Equivalent shares purchased in lieu of tax withholdings	(92)		(50)	(22)
Payments for share repurchase activity and excise tax	(1,311)	[1]	(935)	(1,150)
Payment for settlement of capped call options	(292)		0	0
Payments of dividends to preferred and common stockholders	(411)		(405)	(381)
Proceeds from issuance of long-term debt	6,676		3,200	731
Repayments of long-term debt and finance leases	(1,005)		(3,255)	(523)
Payments for debt extinguishment costs	0		(262)	0
Payments of deferred financing costs	(78)		(45)	(32)
Net receipts/(payments) from settlement of acquired derivatives that include financing elements	59		(3)	342
Proceeds from credit facilities	1,575		1,050	3,020
Repayments to credit facilities	(1,575)		(1,050)	(3,020)
Cash provided/(used) by financing activities	3,546		(1,755)	(400)
Effect of exchange rate changes on cash and cash equivalents	4		(3)	2
Net Increase/(Decrease) in Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash	3,825		524	(1,529)
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at Beginning of Period	1,173		649	2,178
Cash and Cash Equivalents, Funds Deposited by Counterparties and Restricted Cash at End of Period	$ 4,998		$ 1,173	$ 649

[1] Includes excise tax paid of $9 million during the year ended December 31, 2025 (b)Includes $16 million of payments for shares received from the exercise of the Capped Call Options. For further discussion, see Note 15, Capital Structure