Business, Significant Accounting Policies, Significant Events, and Recent Developments (Tables)

9 Months Ended

Sep. 30, 2025

Accounting Policies [Abstract]

Schedule of Insurance Recoveries

The following table summarizes the expenses recorded, net of property damage insurance recoveries, related to the Moss Landing Incident and Martin Lake Incident during the three and nine months ended September 30, 2025.

	Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
	Moss Landing Incident		Martin Lake Incident		Total		Moss Landing Incident		Martin Lake Incident		Total
	(in millions)
Write-off of net book value of facility to depreciation and amortization	$	—	$	—	$	—	$	400	$	—	$	400
Operating costs incurred to restore Martin Lake to service	—		4		4		—		24		24
Incurred and estimated cost of ASAOC activities to operating costs (a)	—		—		—		102		—		102
Total incident expense	$	—	$	4	$	4	$	502	$	24	$	526
Property damage insurance receivable as of the beginning of the period (b)	$	304	$	20	$	324	$	—	$	—	$	—
Recovery of incident expense recorded to insurance receivable	—		4		4		425		24		449
Insurance recovery gain recorded in other non-operating income, net	—		—		—		—		80		80
Insurance proceeds received	(7)		(20)		(27)		(128)		(100)		(228)
Property damage insurance receivable as of the end of the period (b)	$	297	$	4	$	301	$	297	$	4	$	301
Total incident expense, net of property damage insurance recoveries	$	—	$	—	$	—	$	77	$	—	$	77

____________

(a)Total estimated costs of ASAOC activities is expected to be approximately $110 million, of which $102 million was recorded in operating costs in the condensed consolidated statements of operations. Amounts above exclude $8 million of estimated demolition and battery removal costs reclassified from the Moss Landing 300 ARO to other current liabilities during the three months ended March 31, 2025.

(b)Property damage insurance receivable is included in other noncurrent assets on the condensed consolidated balance sheets.

The following table summarizes the business interruption insurance recoveries related to the Moss Landing Incident and Martin Lake Incident during the three and nine months ended September 30, 2025.

	Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
	Moss Landing Incident		Martin Lake Incident		Total		Moss Landing Incident		Martin Lake Incident		Total
	(in millions)
Business interruption insurance proceeds received (a)	$	1	$	—	$	1	$	22	$	—	$	22

____________

(a)Business interruption insurance proceeds is included in operating revenues in the condensed consolidated statements of operations.