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Derivative Instruments and Hedging (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location in Condensed Consolidated Balance Sheet and Amounts
The tables below present Networks' derivative positions as of September 30, 2020 and December 31, 2019, respectively, including those subject to master netting agreements and the location of the net derivative positions on our condensed consolidated balance sheets:
As of September 30, 2020Current AssetsNoncurrent AssetsCurrent LiabilitiesNoncurrent Liabilities
(Millions)    
Not designated as hedging instruments    
Derivative assets$11 $3 $7 $1 
Derivative liabilities(7)(1)(26)(83)
4 2 (19)(82)
Designated as hedging instruments
Derivative assets— — — — 
Derivative liabilities— — (1)— 
— — (1)— 
Total derivatives before offset of cash collateral4 2 (20)(82)
Cash collateral receivable — — 6 3 
Total derivatives as presented in the balance sheet
$4 $2 $(14)$(79)
As of December 31, 2019Current AssetsNoncurrent AssetsCurrent LiabilitiesNoncurrent Liabilities
(Millions)    
Not designated as hedging instruments    
Derivative assets$1 $4 $1 $2 
Derivative liabilities(1)(2)(39)(86)
— 2 (38)(84)
Designated as hedging instruments
Derivative assets— — — — 
Derivative liabilities— — (1)(1)
— — (1)(1)
Total derivatives before offset of cash collateral— 2 (39)(85)
Cash collateral receivable— — 27 1 
Total derivatives as presented in the balance sheet
$— $2 $(12)$(84)
The tables below present Renewables' derivative positions as of September 30, 2020 and December 31, 2019, respectively, including those subject to master netting agreements and the location of the net derivative position on our condensed consolidated balance sheets:
As of September 30, 2020Current AssetsNoncurrent AssetsCurrent LiabilitiesNoncurrent Liabilities
(Millions)
Not designated as hedging instruments
Derivative assets$49 $111 $1 $2 
Derivative liabilities(26)(13)(3)(2)
23 98 (2)— 
Designated as hedging instruments
Derivative assets5 20 2 1 
Derivative liabilities(7)(15)(5)(3)
(2)5 (3)(2)
Total derivatives before offset of cash collateral21 103 (5)(2)
Cash collateral payable(8)(20)— — 
Total derivatives as presented in the balance sheet $13 $83 $(5)$(2)
As of December 31, 2019Current AssetsNoncurrent AssetsCurrent LiabilitiesNoncurrent Liabilities
(Millions)
Not designated as hedging instruments
Derivative assets$23 $110 $42 $13 
Derivative liabilities(1)(7)(48)(18)
22 103 (6)(5)
Designated as hedging instruments
Derivative assets— 18 5 4 
Derivative liabilities— (9)(13)(6)
— 9 (8)(2)
Total derivatives before offset of cash collateral22 112 (14)(7)
Cash collateral (payable) receivable(11)(30)7 6 
Total derivatives as presented in the balance sheet$11 $82 $(7)$(1)
Schedule of Notional Volumes of Outstanding Derivative Positions
The net notional volumes of the outstanding derivative instruments associated with Networks activities as of September 30, 2020 and December 31, 2019, respectively, consisted of:
 September 30,December 31,
As of20202019
(Millions)  
Wholesale electricity purchase contracts (MWh)5.1 5.1 
Natural gas purchase contracts (Dth)8.8 8.5 
Fleet fuel purchase contracts (Gallons)2.4 2.2 
The net notional volumes of outstanding derivative instruments associated with Renewables activities as of September 30, 2020 and December 31, 2019, respectively, consisted of:
September 30,December 31,
As of20202019
(MWh/Dth in millions)  
Wholesale electricity purchase contracts3 4 
Wholesale electricity sales contracts8 9 
Natural gas and other fuel purchase contracts29 29 
Financial power contracts12 10 
Basis swaps – purchases40 42 
Basis swaps – sales— 1 
Schedule of Unrealized Gains and Losses from Fair Value Adjustments
The amounts for electricity hedge contracts and natural gas hedge contracts recognized in regulatory liabilities and assets as of September 30, 2020 and December 31, 2019 and amounts reclassified from regulatory assets and liabilities into income for the three and nine months ended September 30, 2020 and 2019 are as follows:
(Millions)Loss or Gain Recognized in Regulatory Assets/LiabilitiesLocation of Loss Reclassified from Regulatory Assets/Liabilities into IncomeLoss Reclassified from Regulatory Assets/Liabilities into Income
As ofThree Months Ended September 30,Nine Months Ended September 30,
September 30, 2020ElectricityNatural Gas2020 ElectricityNatural GasElectricityNatural Gas
Regulatory assets$9 $— Purchased power, natural gas and fuel used$8 $— $41 $5 
Regulatory liabilities$— $(4)
December 31, 20192019 
Regulatory assets$24 $4 Purchased power, natural gas and fuel used$6 $— $16 $— 
The unrealized gains and losses from fair value adjustments to these derivatives, which are recorded in regulatory assets, for the three and nine months ended September 30, 2020 and 2019, respectively, were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
(Millions)    
Derivative assets$— $— $— $(3)
Derivative liabilities$3 $2 $2 $5 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The effect of derivatives in cash flow hedging relationships on Other Comprehensive Income (OCI) and income for the three and nine months ended September 30, 2020 and 2019, respectively, consisted of:
Three Months Ended September 30,(Loss) Recognized in OCI on Derivatives (a)Location of Loss (Gain) Reclassified from Accumulated OCI into IncomeLoss (Gain) Reclassified from Accumulated OCI into IncomeTotal amount per Income Statement
(Millions)
2020
Interest rate contracts$— Interest expense$1 $86 
Commodity contracts(1)Purchased power, natural gas and fuel used— 259 
Foreign currency exchange contracts
— — 
Total$(1)$1 
2019
Interest rate contracts$— Interest expense$1 $72 
Commodity contracts— Purchased power, natural gas and fuel used(1)279 
Foreign currency exchange contracts
(5)— 
Total$(5)$— 
Nine Months Ended September 30,(Loss) Gain Recognized in OCI on Derivatives (a)Location of Loss Reclassified from Accumulated OCI into IncomeLoss (Gain) Reclassified from Accumulated OCI into IncomeTotal amount per Income Statement
(Millions)
2020
Interest rate contracts$— Interest expense$3 $251 
Commodity contracts(2)Purchased power, natural gas and fuel used1 999 
Foreign currency exchange contracts
(2)— 
Total$(4)$4 
2019
Interest rate contracts$— Interest expense$5 $226 
Commodity contracts— Purchased power, natural gas and fuel used(1)1,101 
Foreign currency exchange contracts
(4)— 
Total$(4)$4 
(a) Changes in accumulated OCI are reported on a pre-tax basis.
The effect of derivatives in cash flow hedging relationships on accumulated OCI and income for the three and nine months ended September 30, 2020 and 2019, respectively, consisted of:
Three Months Ended September 30,(Loss) Gain Recognized in OCI on Derivatives (a)Location of Loss Reclassified from Accumulated OCI into IncomeLoss Reclassified from Accumulated OCI into IncomeTotal amount per Income Statement
(Millions)
2020
Commodity contracts$(17)Operating revenues$5 $1,470 
2019
Commodity contracts$13 Operating revenues$3 $1,487 
Nine Months Ended September 30,(Loss) Recognized in OCI on Derivatives (a)Location of Loss Reclassified from Accumulated OCI into IncomeLoss Reclassified from Accumulated OCI into IncomeTotal amount per Income Statement
(Millions)
2020
Commodity contracts$(9)Operating revenues$4 $4,651 
2019
Commodity contracts$(2)Operating revenues$3 $4,729 
(a) Changes in OCI are reported on a pre-tax basis.
The effect of derivatives in cash flow hedging relationships on accumulated OCI for the three and nine months ended September 30, 2020 and 2019, respectively, consisted of:
Three Months Ended September 30,Gain (Loss) Recognized in OCI on Derivatives (a)Location of Loss Reclassified from Accumulated OCI into IncomeLoss Reclassified from Accumulated OCI into IncomeTotal amount per Income Statement
(Millions)
2020
Interest rate contracts$— Interest expense$2 $86 
2019
Interest rate contracts$— Interest expense$1 $72 
Nine Months Ended September 30,(Loss) Recognized in OCI on Derivatives (a)Location of Loss Reclassified from Accumulated OCI into IncomeLoss Reclassified from Accumulated OCI into IncomeTotal amount per Income Statement
(Millions)
2020
Interest rate contracts$(27)Interest expense$5 $251 
2019
Interest rate contracts$(24)Interest expense$1 $226 
(a) Changes in OCI are reported on a pre-tax basis. The amounts in accumulated OCI are being reclassified into earnings over the underlying debt maturity periods.
Schedule of Fair Value, Net Derivative Contracts
The fair values of derivative contracts associated with Renewables activities as of September 30, 2020 and December 31, 2019, respectively, consisted of:
September 30,December 31,
As of20202019
(Millions)  
Wholesale electricity purchase contracts$8 $10 
Wholesale electricity sales contracts1 4 
Natural gas and other fuel purchase contracts6 (2)
Financial power contracts62 73 
Basis swaps – purchases12 — 
Total$89 $85 
Effect of Derivatives Associated with Renewables and Gas Activities
The effects of trading and non-trading derivatives associated with Renewables activities for the three and nine months ended September 30, 2020, consisted of:
Three Months Ended Nine Months Ended
September 30, 2020September 30, 2020
TradingNon-tradingTotal amount per income statementTradingNon-tradingTotal amount per income statement
(Millions)
Operating Revenues
Wholesale electricity purchase contracts$3 $— $1 $— 
Wholesale electricity sales contracts(7)(11)(1)4 
Financial power contracts4 (12)1 2 
Financial and natural gas contracts— (8)— (13)
Total (loss) gain included in operating revenues
$— $(31)$1,470 $1 $(7)$4,651 
Purchased power, natural gas and fuel used
Wholesale electricity purchase contracts$— $9 $— $(2)
Wholesale electricity sales contracts— 1 — — 
Financial and natural gas contracts— 16 — 19 
Total gain included in purchased power, natural gas and fuel used$— $26 $259 $— $17 $999 
Total (Loss) Gain $— $(5)$1 $10 
The effects of trading and non-trading derivatives associated with Renewables activities for the three and nine months ended September 30, 2019, consisted of:
Three Months Ended Nine Months Ended
September 30, 2019September 30, 2019
TradingNon-tradingTotal amount per income statementTradingNon-tradingTotal amount per income statement
(Millions)
Operating Revenues
Wholesale electricity purchase contracts$(1)$— $(2)$— 
Wholesale electricity sales contracts— 42 2 37 
Financial power contracts— 13 — 22 
Financial and natural gas contracts— 1 (1)1 
Total (loss) gain included in operating revenues$(1)$56 $1,487 $(1)$60 $4,729 
Purchased power, natural gas and fuel used
Wholesale electricity purchase contracts$— $(19)$— $(2)
Financial power contracts— — — (2)
Financial and natural gas contracts— 6 — 10 
Total (loss) gain included in purchased power, natural gas and fuel used
$— $(13)$279 $— $6 $1,101 
Total (Loss) Gain $(1)$43 $(1)$66