Derivative Instruments and Hedging Activity (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of the fair values included in balance sheets

The tables below present NEP's gross derivative positions, based on the total fair value of each derivative instrument, at June 30, 2020 and December 31, 2019, as required by disclosure rules, as well as the location of the net derivative positions, based on the expected timing of future payments, on the condensed consolidated balance sheets.

	June 30, 2020
	Gross Basis				Net Basis
	Assets		Liabilities		Assets		Liabilities
	(millions)
Interest rate contracts	$	59	$	1,213	$	—	$	1,154
Net fair value by balance sheet line item:
Other current assets					$	—
Other non-current assets					—
Other current liabilities							$	18
Derivatives							1,136
Total derivatives					$	—	$	1,154

	December 31, 2019
	Gross Basis				Net Basis
	Assets		Liabilities		Assets		Liabilities
	(millions)
Interest rate contracts	$	9	$	427	$	—	$	418
Net fair value by balance sheet line item:
Other current assets					$	—
Other non-current assets					—
Other current liabilities							$	1
Derivatives							417
Total derivatives					$	—	$	418

Schedule of gains (losses) related to interest rate contracts

Gains (losses) related to NEP's interest rate contracts are recorded in the condensed consolidated financial statements as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2020			2019		2020		2019
	(millions)
Interest rate contracts:
Gains reclassified from AOCI to interest expense	$	—		$	—	$	—	$	6
Gains (losses) recognized in interest expense	$	56	(a)	$	(160)	$	(739)	$	(278)

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(a) The valuation of certain interest rate swap transactions entered into during the fourth quarter of 2019 was corrected during the three months ended June 30, 2020, which resulted in a one-time gain of approximately $19 million.