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Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Volumes of Derivative Instruments
The following table summarizes the notional volumes of derivatives used for SCE hedging activities:
 
 
Economic Hedges
 
Unit of
December 31,
Commodity
Measure
2012
 
2011
Electricity options, swaps and forwards
GWh
15,884

 
30,811
Natural gas options, swaps and forwards
Bcf
100

 
300
Congestion revenue rights
GWh
149,774

 
166,163
Tolling arrangements
GWh
101,485

 
104,154
Fair Value of Derivative Instruments
The following table summarizes the gross and net fair values of SCE commodity derivative instruments at December 31, 2012:
 
 
Derivative Assets
 
Derivative Liabilities
 
 
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Net
Liability
Non-trading activities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Economic hedges
 
$
151

 
$
91

 
$
242

 
$
186

 
$
954

 
$
1,140

 
$
898

Netting and collateral
 
(22
)
 
(6
)
 
(28
)
 
(60
)
 
(15
)
 
(75
)
 
(47
)
Total
 
$
129

 
$
85

 
$
214

 
$
126

 
$
939

 
$
1,065

 
$
851


The following table summarizes the gross and net fair values of SCE commodity derivative instruments at December 31, 2011:
 
 
Derivative Assets
 
Derivative Liabilities1
 
 
(in millions)
 
Short-Term
 
Long-Term
 
Subtotal
 
Short-Term
 
Long-Term
 
Subtotal
 
Net
Liability
Non-trading activities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Economic hedges
 
$
86

 
$
85

 
$
171

 
$
303

 
$
856

 
$
1,159

 
$
988

Netting and collateral
 
(21
)
 
(15
)
 
(36
)
 
(37
)
 
(51
)
 
(88
)
 
(52
)
Total
 
$
65

 
$
70

 
$
135

 
$
266

 
$
805

 
$
1,071

 
$
936


1
Included in 2011 is a power purchase agreement between SCE and EME with a fair market value of $349 million, which was eliminated in the Edison International consolidated financial statements.
Summarization of Economic Hedging Activities
The following table summarizes the components of SCE's economic hedging activity:
 
 
Years ended December 31,
(in millions)
 
2012
 
2011
 
2010
Realized gains (losses)
 
$
(227
)
 
$
(165
)
 
$
(156
)
Unrealized gains (losses)
 
125

 
(768
)
 
36
Summary of Margin and Collateral Deposits Provided to Counterparties
The following table summarizes margin and collateral deposits provided to counterparties:
 
December 31,
(in millions)
2012
 
2011
Collateral provided to counterparties:
 
 
 
Offset against derivative liabilities
$
47

 
$
51

Reflected in margin and collateral deposits
8

 
17