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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value of Financial Instruments [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The Company’s financial assets and liabilities whose values were recognized at fair value are as follows by level within the fair value hierarchy (in millions): 
 
As of December 31, 2019
 
Level 1
 
Level 2
 
Level 3
 
Other(2)
 
Total
Assets:
 
 
 
 
 
 
 
 
 
Cash equivalents
$
26

 
$

 
$

 
$

 
$
26

Nuclear decommissioning trust: (1)
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
Domestic government
8

 
16

 

 

 
24

Corporate credit

 
9

 

 

 
9

Money market funds measured at NAV (2)

 

 

 
13

 
13

Non-qualified benefit plan trust: (3)
 
 
 
 
 
 
 
 
 
Money market funds
1

 

 

 

 
1

Equity securities—domestic
7

 

 

 

 
7

Debt securities—domestic government
1

 

 

 

 
1

Price risk management activities: (1) (4)
 
 
 
 
 
 
 
 
 
Electricity

 
9

 
7

 

 
16

Natural gas

 
21

 
1

 

 
22

 
$
43

 
$
55

 
$
8

 
$
13

 
$
119

Liabilities:
 
 
 
 
 
 
 
 
 
Price risk management activities: (1) (4)
 
 
 
 
 
 
 
 
 
Electricity
$

 
$
14

 
$
105

 
$

 
$
119

Natural gas

 
12

 

 

 
12

 
$

 
$
26

 
$
105

 
$

 
$
131

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Activities are subject to regulation, with gains and losses deferred pursuant to regulatory accounting and included in regulatory assets or regulatory liabilities as appropriate.
(2)
Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure.
(3)
Excludes insurance policies of $29 million, which are recorded at cash surrender value.
(4)
For further information regarding price risk management derivatives, see Note 6, Risk Management.

 
As of December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
Other(2)
 
Total
Assets:
 
 
 
 
 
 
 
 
 
Cash equivalents
$
112

 
$

 
$

 
$

 
$
112

Nuclear decommissioning trust: (1)
 
 
 
 
 
 
 
 
 
Debt securities:
 
 
 
 
 
 
 
 
 
Domestic government
7

 
18

 

 

 
25

Corporate credit

 
10

 

 

 
10

Money market funds measured at NAV (2)

 

 

 
7

 
7

Non-qualified benefit plan trust: (3)
 
 
 
 
 
 
 
 
 
Money market funds
2

 

 

 

 
2

Equity securities—domestic
6

 

 

 

 
6

Debt securities—domestic government
1

 

 

 

 
1

Price risk management activities: (1) (4)
 
 
 
 
 
 
 
 
 
Electricity

 
9

 
3

 

 
12

Natural gas

 
8

 

 

 
8

 
$
128

 
$
45

 
$
3

 
$
7

 
$
183

Liabilities:
 
 
 
 
 
 
 
 
 
Interest rate swap derivatives
$

 
$
4

 
$

 
$

 
4

Price risk management activities: (1) (4)
 
 
 
 
 
 
 
 
 
Electricity

 
10

 
84

 

 
94

Natural gas

 
51

 
7

 

 
58

 
$

 
$
65

 
$
91

 
$

 
$
156

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Activities are subject to regulation, with certain gains and losses deferred pursuant to regulatory accounting and included in regulatory assets or regulatory liabilities as appropriate.
(2)
Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure.
(3)
Excludes insurance policies of $27 million, which are recorded at cash surrender value.
(4)
For further information regarding price risk management derivatives, see Note 6, Risk Management.
The fair values of the Company’s pension plan assets and other postretirement benefit plan assets by asset category are as follows (in millions):
 
Level 1
 
Level 2
 
Level 3
 
Other *
 
Total
As of December 31, 2019:
 
 
 
 
 
 
 
 
 
Defined Benefit Pension Plan assets:
 
 
 
 
 
 
 
 
 
Equity securities—Domestic
$
49

 
$

 
$

 
$

 
$
49

Investments measured at NAV:
 
 
 
 
 
 
 
 
 
Money market funds

 

 

 
5

 
5

Collective trust funds

 

 

 
632

 
632

Private equity funds

 

 

 
9

 
9

 
$
49

 
$

 
$

 
$
646

 
$
695

Other Postretirement Benefit Plans assets:
 
 
 
 
 
 
 
 
 
Money market funds
$
4

 
$

 
$

 
$

 
$
4

Equity securities:
 
 
 
 
 
 
 
 
 
Domestic

 
3

 

 

 
3

International
9

 

 

 

 
9

Debt securities—Domestic

 
5

 

 

 
5

Investments measured at NAV:
 
 
 
 
 
 
 
 
 
Money market funds

 

 

 
5

 
5

Collective trust funds

 

 

 
8

 
8

 
$
13

 
$
8

 
$

 
$
13

 
$
34

As of December 31, 2018:
 
 
 
 
 
 
 
 
 
Defined Benefit Pension Plan assets:
 
 
 
 
 
 
 
 
 
Equity securities—Domestic
$
67

 
$

 
$

 
$

 
$
67

Investments measured at NAV:
 
 
 
 
 
 
 
 
 
Money market funds

 

 

 
5

 
5

Collective trust funds

 

 

 
463

 
463

Private equity funds

 

 

 
11

 
11

 
$
67

 
$

 
$

 
$
479

 
$
546

Other Postretirement Benefit Plans assets:
 
 
 
 
 
 
 
 
 
Money market funds
$
3

 
$

 
$

 
$

 
$
3

Equity securities:
 
 
 
 
 
 
 
 
 
Domestic

 
3

 

 

 
3

International
8

 

 

 

 
8

Debt securities—Domestic government

 
5

 

 

 
5

Investments measured at NAV:
 
 
 
 
 
 
 
 
 
Money market funds

 

 

 
4

 
4

Collective trust funds

 

 

 
7

 
7

 
$
11

 
$
8

 
$

 
$
11

 
$
30

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
Assets are measured at NAV as a practical expedient and not subject to hierarchy level classification disclosure. These assets are listed in the totals of the fair value hierarchy to permit the reconciliation to amounts presented in the financial statements.

Fair Value Option, Disclosures [Table Text Block]
Quantitative information regarding the significant, unobservable inputs used in the measurement of Level 3 assets and liabilities from price risk management activities is presented below:

 
 
 
 
 
 
 
 
Significant
 
Price per Unit
 
 
Fair Value
 
Valuation
 
Unobservable
 
 
 
 
 
Weighted
Commodity Contracts
 
Assets
 
Liabilities
 
Technique
 
Input
 
Low
 
High
 
Average
 
 
(in millions)
 
 
 
 
 
 
 
 
 
 
As of December 31, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
Electricity physical forward
 
$

 
$
104

 
Discounted cash flow
 
Electricity forward price (per MWh)
 
$
12.53

 
$
59.00

 
$
36.92

Natural gas financial swaps
 
1

 

 
Discounted cash flow
 
Natural gas forward price (per Dth)
 
1.39

 
3.73

 
1.90

Electricity financial futures
 
7

 
1

 
Discounted cash flow
 
Electricity forward price (per MWh)
 
10.57

 
66.32

 
45.11

 
 
$
8

 
$
105

 
 
 
 
 
 
 
 
 
 
As of December 31, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
Electricity physical forward
 
$
3

 
$
84

 
Discounted cash flow
 
Electricity forward price (per MWh)
 
$
14.60

 
$
69.00

 
$
45.00

Natural gas financial swaps
 

 
7

 
Discounted cash flow
 
Natural gas forward price (per Dth)
 
0.95

 
4.64

 
1.82

Electricity financial futures
 

 

 
Discounted cash flow
 
Electricity forward price (per MWh)
 
20.75

 
35.46

 
28.63

 
 
$
3

 
$
91

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Changes in the fair value of net liabilities from price risk management activities (net of assets from price risk management activities) classified as Level 3 in the fair value hierarchy were as follows (in millions):

 
Years Ended December 31,
 
2019
 
2018
Net liabilities from price risk management activities as of beginning of year
$
88

 
$
139

Net realized and unrealized losses/(gains) *
10

 
(40
)
Net transfers out of Level 3 to Level 2
(1
)
 
(11
)
Net liabilities from price risk management activities as of end of year
$
97

 
$
88

Level 3 net unrealized losses/(gains) that have been fully offset by the effect of regulatory accounting
$
16

 
$
(32
)
 
 
 
 
 
* Includes $6 million in net realized gains in 2019 and $8 million in 2018.