Derivatives And Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2016

Derivatives And Hedging Activities [Abstract]

Volumes Of Outstanding Derivative Contracts

		Contract Volume
Underlying Product	Instruments	2016	2015
Natural Gas (1)(MMBtus (2))	Forwards and Swaps	323,301,331	333,091,813
	Options	96,602,785	111,550,004
Electricity (Megawatt-hours)	Forwards and Swaps	3,287,397	3,663,512
	Congestion Revenue Rights (3)	278,143,281	216,383,389

(1) Amounts shown are for the combined positions of the electric fuels and core gas supply portfolios.

(2) Million British Thermal Units.

(3) CRRs are financial instruments that enable the holders to manage variability in electric energy congestion charges due to transmission grid limitations.

Outstanding Derivative Balances

At December 31, 2016, 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	$	91	$	(10)	$	1	$	82
Other noncurrent assets – other		149		(9)		-		140
Current liabilities – other		(48)		10		-		(38)
Noncurrent liabilities – other		(101)		9		3		(89)
Total commodity risk	$	91	$	-	$	4	$	95

At December 31, 2015, 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	$	97	$	(4)	$	25	$	118
Other noncurrent assets – other		172		(2)		-		170
Current liabilities – other		(102)		4		44		(54)
Noncurrent liabilities – other		(140)		2		21		(117)
Total commodity risk	$	27	$	-	$	90	$	117

Gains And Losses On Derivative Instruments

	Commodity Risk
	For the year ended December 31,
(in millions)	2016		2015		2014
Unrealized gain/(loss) - regulatory assets and liabilities (1)	$	64	$	(6)	$	124
Realized loss - cost of electricity (2)		(53)		(14)		(83)
Realized loss - cost of natural gas (2)		(18)		(10)		(8)
Total commodity risk	$	(7)	$	(30)	$	33

(1) Unrealized gains and losses on commodity risk-related derivative instruments are recorded to regulatory liabilities or assets, respectively, 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

	Balance at December 31,
(in millions)	2016		2015
Derivatives in a liability position with credit risk-related
contingencies that are not fully collateralized	$	(24)	$	(2)
Related derivatives in an asset position		19		-
Collateral posting in the normal course of business related to
these derivatives		4		-
Net position of derivative contracts/additional collateral
posting requirements(1)	$	(1)	$	(2)

(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.