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Derivatives And Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2013
Derivatives And Hedging Activities [Abstract]  
Volumes Of Outstanding Derivative Contracts
 
At December 31, 2013, the volumes of PG&E Corporation's and the Utility's outstanding derivatives were as follows:
 
 
 
 
 
 
Contract Volume (1)
 
 
 
 
 
 
1 Year or
 
3 Years or
 
 
 
 
 
 
 
 
Greater but
 
Greater but
 
 
 
 
 
 
Less Than 1
 
Less Than 3
 
Less Than 5
 
5 Years or
Underlying Product
 
Instruments
 
Year
 
Years
 
 Years
 
Greater (2)
Natural Gas (3)
 
Forwards and
 
 
 
 
 
 
 
 
(MMBtus (4))
 
Swaps
 
243,213,288
 
79,735,000
 
8,892,500
 
-
 
 
Options
 
169,123,208
 
87,689,708
 
3,450,000
 
-
Electricity
 
Forwards and
 
 
 
 
 
 
 
 
(Megawatt-hours)
 
Swaps
 
2,537,023
 
2,009,505
 
2,008,046
 
1,534,695
 
 
Congestion
 
 
 
 
 
 
 
 
 
 
Revenue Rights
 
73,510,440
 
83,747,782
 
63,718,517
 
29,945,852
 
 
 
 
 
 
 
 
 
 
 
 (1) Amounts shown reflect the total gross derivative volumes by commodity type that are expected to settle in each period.
(2) Derivatives in this category expire between 2019 and 2022.
(3) Amounts shown are for the combined positions of the electric fuels and core gas supply portfolios.
(4) Million British Thermal Units.
 
At December 31, 2012, the volumes of PG&E Corporation's and the Utility's outstanding derivatives were as follows:
 
 
 
 
 
 
Contract Volume (1)
 
 
 
 
 
 
1 Year or
 
3 Years or
 
 
 
 
 
 
 
 
Greater but
 
Greater but
 
 
 
 
 
 
Less Than 1
 
Less Than 3
 
Less Than 5
 
5 Years or
Underlying Product
 
Instruments
 
Year
 
Years
 
 Years
 
Greater (2)
Natural Gas (3)
 
Forwards and
 
 
 
 
 
 
 
 
(MMBtus (4))
 
Swaps
 
329,466,510
 
98,628,398
 
5,490,000
 
-
 
 
Options
 
221,587,431
 
216,279,767
 
10,050,000
 
-
Electricity
 
Forwards and
 
 
 
 
 
 
 
 
(Megawatt-hours)
 
Swaps
 
2,537,023
 
3,541,046
 
2,009,505
 
2,538,718
 
 
Options
 
-
 
239,015
 
239,233
 
119,508
 
 
Congestion
 
 
 
 
 
 
 
 
 
 
Revenue Rights
 
74,198,690
 
74,187,803
 
74,240,147
 
25,699,804
 
 
 
 
 
 
 
 
 
 
 
 (1) Amounts shown reflect the total gross derivative volumes by commodity type that are expected to settle in each period.
(2) Derivatives in this category expire between 2018 and 2023.
(3) Amounts shown are for the combined positions of the electric fuels and core gas supply portfolios.
(4) Million British Thermal Units.
 
Outstanding Derivative Balances
At December 31, 2013, PG&E Corporation's and the Utility's outstanding derivative balances were as follows:
 
 
 
Commodity Risk
 
Gross Derivative
 
 
 
 
 
Total Derivative
(in millions)
Balance
 
Netting
 
Cash Collateral
 
Balance
Current assets - other
$
42
 
$
(10
 ) 
$
16
 
$
48
Other noncurrent assets - other
 
99
 
 
(4
 ) 
 
-
 
 
95
Current liabilities - other
 
(122
 ) 
 
10
 
 
69
 
 
(43
)
Noncurrent liabilities - other
 
(110
 ) 
 
4
 
 
2
 
 
(104
)
Total commodity risk
$
(91)
 
$
-
 
$
87
 
$
(4)
 
 
At December 31, 2012, PG&E Corporation's and the Utility's outstanding derivative balances were as follows:
 
 
 
Commodity Risk
 
Gross Derivative
 
 
 
 
 
Total Derivative
(in millions)
Balance
 
Netting
 
Cash Collateral
 
Balance
Current assets - other
$
48
 
$
(25
 ) 
$
36
 
$
59
Other noncurrent assets - other
 
99
 
 
(11
 ) 
 
-
 
 
88
Current liabilities - other
 
(255
 ) 
 
25
 
 
115
 
 
(115
)
Noncurrent liabilities - other
 
(221
 ) 
 
11
 
 
14
 
 
(196
)
Total commodity risk
$
(329)
 
$
-
 
$
165
 
$
(164)
Gains And Losses On Derivative Instruments
Gains and losses recorded on PG&E Corporation's and the Utility's derivatives were as follows:
 
 
Commodity Risk
 
For the year ended December 31,
(in millions)
2013
 
2012
 
2011
Unrealized gain/(loss) - regulatory assets and liabilities (1)
$
238
 
$
391
 
$
21
Realized loss - cost of electricity (2)
 
(178
 ) 
 
(486
 ) 
 
(558
)
Realized loss - cost of natural gas (2)
 
(22
 ) 
 
(38
 ) 
 
(106
)
Total commodity risk
$
38
 
$
(133)
 
$
(643)
 
 
 
 
 
 
 
 
 
 (1) Unrealized gains and losses on commodity risk-related derivative instruments are recorded to regulatory assets or liabilities, rather than being recorded to the  Consolidated Statements of Income.  These amounts exclude the impact of cash collateral postings.
(2) These amounts are fully passed through to customers in rates.  Accordingly, net income was not impacted by realized amounts on these instruments.
Additional Cash Collateral The Utility Would Be Required To Post If Its Credit Risk-Related Contingency Features Were Triggered
The additional cash collateral that the Utility would be required to post if the credit risk-related contingency features were triggered was as follows:
 
 
 
Balance at December 31,
(in millions)
2013
 
2012
Derivatives in a liability position with credit risk-related
 
 
 
 
 
 contingencies that are not fully collateralized
$
(79
 ) 
$
(266
)
Related derivatives in an asset position
 
4
 
 
59
Collateral posting in the normal course of business related to
 
 
 
 
 
these derivatives
 
65
 
 
103
Net position of derivative contracts/additional collateral
 
 
 
 
 
posting requirements (1)
$
(10)
 
$
(104)
 
 
 
 
 
 
 (1) This calculation excludes the impact of closed but unpaid positions, as their settlement is not impacted by any of the Utility's credit risk-related contingencies.