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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
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 in the Company’s condensed consolidated balance sheets are as follows by level within the fair value hierarchy (in millions):

As of June 30, 2025
Level 1Level 2Level 3
Other (2)
Total
Assets:
Cash equivalents$41 $— $— $— $41 
Nuclear decommissioning trust: (1)
Debt securities:
Domestic government14 11 — — 25 
Corporate credit— 10 — — 10 
Money market funds— — — 7 7 
Non-qualified benefit plan trust: (3)
Debt securities—domestic government1 — — — 1 
Paid Leave Oregon Trust
Money market funds— — — 6 6 
Price risk management activities: (1) (4)
Electricity— 9 4 — 13 
Natural gas— 19 1 — 20 
$56 $49 $5 $13 $123 
Liabilities:
Price risk management activities: (1) (4)
Electricity$— $17 $31 $— $48 
Natural gas— 102 5 — 107 
$— $119 $36 $— $155 
 
(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 $34 million, which are recorded at cash surrender value.
(4)For further information, see Note 5, Risk Management.
As of December 31, 2024
Level 1Level 2Level 3
Other (2)
Total
Assets:
Cash equivalents$12 $— $— $— $12 
Nuclear decommissioning trust: (1)
Debt securities:
Domestic government10 6 — — 16 
Corporate credit— 7 — — 7 
Money market funds— — — 7 7 
Non-qualified benefit plan trust: (3)
Debt securities—domestic government2 — — — 2 
Paid Leave Oregon Trust:
Money market funds— — — 4 4 
Price risk management activities: (1) (4)
Electricity— 18 1 — 19 
Natural gas— 15 — — 15 
$24 $46 $1 $11 $82 
Liabilities:
Price risk management activities: (1) (4)
Electricity$— $25 $31 $— $56 
Natural gas— 159 4 — 163 
$— $184 $35 $— $219 
 
(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 $32 million, which are recorded at cash surrender value.
(4)For further information, see Note 5, Risk Management.
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:
Fair ValueValuation TechniqueSignificant Unobservable InputPrice per Unit
Commodity ContractsAssetsLiabilitiesLowHighWeighted Average
(in millions)
As of June 30, 2025
Electricity physical forwards$1 $23 Discounted cash flow
Electricity forward price (per megawatt hour (MWh))
$38.04 $119.00 $70.63 
Natural gas financial swaps1 5 Discounted cash flowNatural gas forward price (per Decatherm)1.86 3.70 2.61 
Electricity financial futures3 8 Discounted cash flowElectricity forward price (per MWh)40.92 119.00 81.98 
$5 $36 
As of December 31, 2024
Electricity physical forwards$— $28 Discounted cash flowElectricity forward price (per MWh)$14.00 $99.68 $59.43 
Natural gas financial swaps— 4 Discounted cash flowNatural gas forward price (per Decatherm)1.86 6.53 2.68 
Electricity financial futures1 3 Discounted cash flowElectricity forward price (per MWh)27.00 110.00 70.55 
$1 $35 
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):
Three Months Ended June 30, Six Months Ended June 30,
2025202420252024
Balance as of the beginning of the period$39 $43 $34 $45 
Net realized and unrealized losses/(gains)*
(5)2 4 — 
Transfers from Level 3 to Level 2(3)— (7)— 
Balance as of the end of the period$31 $45 $31 $45 
* Both realized and unrealized losses/(gains), of which the unrealized portions are offset by the effects of regulatory accounting until settlement of the underlying transactions, are recorded in Revenues, net or Purchased power and fuel expense in the condensed consolidated statements of income and comprehensive income. Amounts include $3 million and $2 million net realized gains for the three months ended June 30, 2025 and 2024, respectively. For the six-month periods ended June 30, 2025 and 2024, amounts include $4 million in net realized gain and $1 million in net realized gains, respectively.