Price Risk Management (Tables)

3 Months Ended

Mar. 31, 2020

Derivative [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

PGE’s Assets and Liabilities from price risk management activities consist of the following (in millions):

	March 31, 2020		December 31, 2019
Current assets:
Commodity contracts:
Electricity	$	14	$	9
Natural gas	11		16
Total current derivative assets(1)	25		25
Noncurrent assets:
Commodity contracts:
Electricity	—		7
Natural gas	5		6
Total noncurrent derivative assets(1)	5		13
Total derivative assets(2)	$	30	$	38
Current liabilities:
Commodity contracts:
Electricity	$	17	$	14
Natural gas	15		9
Total current derivative liabilities	32		23
Noncurrent liabilities:
Commodity contracts:
Electricity	126		105
Natural gas	3		3
Total noncurrent derivative liabilities	129		108
Total derivative liabilities(2)	$	161	$	131

(1) Total current derivative assets are included in Other current assets, and Total noncurrent derivative assets are included in Other noncurrent assets on the condensed consolidated balance sheets.

(2) As of March 31, 2020 and December 31, 2019, no derivative assets or liabilities were designated as hedging instruments.

Schedule of Derivative Instruments [Table Text Block]

PGE’s net volumes related to its Assets and Liabilities from price risk management activities resulting from its derivative transactions, which are expected to deliver or settle at various dates through 2035, were as follows (in millions):

	March 31, 2020			December 31, 2019
Commodity contracts:
Electricity	8		MWhs	6		MWhs
Natural gas	144		Decatherms	145		Decatherms
Foreign currency	$	24	Canadian	$	23	Canadian

Derivatives Not Designated as Hedging Instruments [Table Text Block]

Net realized and unrealized losses (gains) on derivative transactions not designated as hedging instruments are classified in Purchased power and fuel in the condensed consolidated statements of income and comprehensive income and were as follows (in millions):

	Three Months Ended March 31,
	2020		2019
Commodity contracts:
Electricity	$	32	$	(24	)
Natural Gas	9		(25		)
Foreign currency exchange	1		—

Net unrealized and certain net realized losses (gains) presented in the table above are offset within the condensed consolidated statements of income and comprehensive income by the effects of regulatory accounting.

Schedule of Price Risk Derivatives [Table Text Block]

Assuming no changes in market prices and interest rates, the following table indicates the year in which the net unrealized loss (gain) recorded as of March 31, 2020 related to PGE’s derivative activities would become realized as a result of the settlement of the underlying derivative instrument (in millions):

	2020			2021			2022		2023		2024		Thereafter		Total
Commodity contracts:
Electricity	$	(2	)	$	14		$	8	$	8	$	8	$	93	$	129
Natural gas	7			(5		)	—		—		—		—		2
Net unrealized loss	$	5		$	9		$	8	$	8	$	8	$	93	$	131

Schedule of Concentration of Risk, by Counterparty [Table Text Block]

Counterparties representing 10% or more of assets and liabilities from price risk management activities were as follows:

	March 31, 2020		December 31, 2019
Assets from price risk management activities:
Counterparty A	27	%	35	%
Counterparty B	12		13
Counterparty C	10		11
Counterparty D	9		11
	58	%	70	%
Liabilities from price risk management activities:
Counterparty E	81	%	79	%