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Revenue (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables disaggregate our revenue by major source:
Year Ended December 31, 2024
RetailTexasEast (a)WestAsset ClosureEliminations / Corporate and OtherConsolidated
(in millions)
Revenue from contracts with customers:
Retail energy charge in ERCOT$8,064 $— $— $— $— $— $8,064 
Retail energy charge in Northeast/Midwest (a)3,595 — — — — — 3,595 
Wholesale generation revenue from ISO/RTO— 399 1,351 228 — — 1,978 
Capacity revenue from ISO/RTO (b)— — 74 — — — 74 
Revenue from other wholesale contracts— 422 398 230 — — 1,050 
Total revenue from contracts with customers11,659 821 1,823 458 — — 14,761 
Other revenues:
Transferable PTC revenues (c)— 292 264 — — — 556 
Hedging revenues — realized1,241 (453)31 84 (8)— 895 
Hedging revenue — unrealized(168)700 143 329 9 — 1,013 
Intangible amortization and other revenues1 — (4)— — 2 (1)
Intersegment sales (d)64 4,034 3,404 6 — (7,508)— 
Total other revenues1,138 4,573 3,838 419 1 (7,506)2,463 
Total revenues$12,797 $5,394 $5,661 $877 $1 $(7,506)$17,224 
____________
(a)Includes ten months of revenue associated with operations acquired in the Energy Harbor Merger.
(b)Represents net capacity sold (purchased) in each ISO/RTO. The East segment includes $126 million of capacity sold offset by $52 million of capacity purchased. Net capacity purchased in each ISO/RTO included in fuel, purchased power costs, and delivery fees in the consolidated statement of operations includes capacity purchased of $139 million offset by $116 million of capacity sold within the East segment.
(c)Represents transferable PTCs generated from qualifying nuclear and solar assets during the period.
(d)East segment includes $195 million of intersegment unrealized net losses, and Texas and West segments include $74 million and $4 million, respectively, of intersegment unrealized net gains from mark-to-market valuations of commodity positions with the Retail segment.
Year Ended December 31, 2023
RetailTexasEastWestAsset ClosureEliminations / Corporate and OtherConsolidated
(in millions)
Revenue from contracts with customers:
Retail energy charge in ERCOT$7,674 $— $— $— $— $— $7,674 
Retail energy charge in Northeast/Midwest1,642 — — — — — 1,642 
Wholesale generation revenue from ISO/RTO— 1,190 1,298 421 — — 2,909 
Capacity revenue from ISO/RTO (a)— — 98 — — — 98 
Revenue from other wholesale contracts— 505 797 179 — — 1,481 
Total revenue from contracts with customers9,316 1,695 2,193 600 — — 13,804 
Other revenues:
Transferable PTC revenues (b)
— 10 — — — — 10 
Hedging revenues — realized
1,063 (885)43 67 (36)— 252 
Hedging revenue — unrealized
191 (714)958 243 36 — 714 
Intangible amortization and other revenues
2 — (5)— — 2 (1)
Intersegment sales (c)
— 3,873 2,701 4 — (6,578)— 
Total other revenues1,256 2,284 3,697 314 — (6,576)975 
Total revenues$10,572 $3,979 $5,890 $914 $— $(6,576)$14,779 
____________
(a)Represents net capacity sold (purchased) in each ISO/RTO. The East segment includes $233 million of capacity sold offset by $135 million of capacity purchased. Net capacity purchased in each ISO/RTO included in fuel, purchased power costs, and delivery fees in the consolidated statement of operations includes capacity purchased of $82 million offset by $73 million of capacity sold within the East segment.
(b)Represents transferable PTCs generated from qualifying solar assets during the period.
(c)East segment includes $814 million of intersegment unrealized net gains, and Texas and West segments include $48 million and $6 million, respectively, of intersegment unrealized net losses from mark-to-market valuations of commodity positions with the Retail segment.
Year Ended December 31, 2022
RetailTexasEastWestAsset ClosureEliminations / Corporate and OtherConsolidated
(in millions)
Revenue from contracts with customers:
Retail energy charge in ERCOT$6,971 $— $— $— $— $— $6,971 
Retail energy charge in Northeast/Midwest2,139 — — — — — 2,139 
Wholesale generation revenue from ISO/RTO— 1,277 1,987 467 562 — 4,293 
Capacity revenue from ISO/RTO (a)— — 76 — 27 — 103 
Revenue from other wholesale contracts— 696 1,256 151 22 — 2,125 
Total revenue from contracts with customers9,110 1,973 3,319 618 611 — 15,631 
Other revenues:
Hedging revenues — realized
875 (67)(247)35 (333)1 264 
Hedging revenue — unrealized
(532)(637)(770)(326)102 — (2,163)
Intangible amortization and other revenues
2 — (6)— — — (4)
Intersegment sales (b)
— 2,609 2,133 9 4 (4,755)— 
Total other revenues345 1,905 1,110 (282)(227)(4,754)(1,903)
Total revenues$9,455 $3,878 $4,429 $336 $384 $(4,754)$13,728 
____________
(a)Represents net capacity sold (purchased) in each ISO/RTO. The East segment includes $361 million of capacity sold offset by $285 million of capacity purchased. The Asset Closure segment includes $27 million of capacity sold. Net capacity purchased in each ISO/RTO included in fuel, purchased power costs, and delivery fees in the consolidated statement of operations includes capacity purchased of $212 million offset by $167 million of capacity sold within the East segment.
(b)Texas and East segments include $780 million and $45 million, respectively, of intersegment unrealized net losses and West and Asset Closure segments include $2 million and $4 million respectively, of intersegment unrealized net gains from mark-to-market valuations of commodity positions with the Retail segment.
Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
As of December 31, 2024, we have future fixed fee performance obligations that are unsatisfied, or partially unsatisfied, relating to capacity auction volumes awarded through capacity auctions held by the ISO/RTO or contracts with customers for which the total consideration is fixed and determinable at contract execution. Capacity revenues are recognized as the performance obligations to make capacity available to the related ISOs/RTOs or counterparties are met.

20252026202720282029
2030 and Thereafter
Total
(in millions)
Remaining performance obligations
$1,123 $825 $289 $122 $62 $548 $2,969 
Schedule of Accounts, Notes, Loans and Financing Receivable
Trade Accounts Receivable
December 31,
2024		December 31,
2023
(in millions)
Wholesale and retail trade accounts receivable$2,061 $1,735 
Allowance for credit losses(79)(61)
Trade accounts receivable — net$1,982 $1,674 
Trade accounts receivable from contracts with customers — net$1,514 $1,239 
Other trade accounts receivable — net468 435 
     Total trade accounts receivable — net $1,982 $1,674 
Allowance for Credit Losses on Accounts Receivable
Year Ended December 31,
202420232022
(in millions)
Allowance for credit losses on accounts receivable at beginning of period$61 $65 $45 
Increase for bad debt expense183 164 179 
Decrease for account write-offs(165)(168)(159)
Allowance for credit losses on accounts receivable at end of period$79 $61 $65