Derivative Instruments (Tables) - SCE

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Derivative Assets in Statement of Financial Position, Fair Value


	June 30, 2021
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term¹		Long-Term²		Subtotal		Short-Term		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	115	$	16	$	131	$	12	$	4	$	16	$	115
Gross amounts offset in the consolidated balance sheets		(12)		(4)		(16)		(12)		(4)		(16)		—
Cash collateral posted³		(26)		—		(26)		—		—		—		(26)
Net amounts presented in the consolidated balance sheets	$	77	$	12	$	89	$	—	$	—	$	—	$	89


	December 31, 2020
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term¹		Long-Term²		Subtotal		Short-Term		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	103	$	23	$	126	$	16	$	6	$	22	$	104
Gross amounts offset in the consolidated balance sheets		(12)		(6)		(18)		(12)		(6)		(18)		—
Cash collateral posted³		—		—		—		(4)		—		(4)		4
Net amounts presented in the consolidated balance sheets	$	91	$	17	$	108	$	—	$	—	$	—	$	108

1	Included in "Other current assets" on Edison International's and SCE's consolidated balance sheets.

2	Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets.

At June 30, 2021, SCE received cash collateral of $30 million, of which $26 million was offset against net derivative assets and $4 million was reflected in "Other current liabilities" on the consolidated balance sheets. At December 31, 2020, SCE posted $17 million of cash, of which $4 million was offset against derivative liabilities and $13 million was reflected in "Other current assets" on the consolidated balance sheets.

Components of Economic Hedging Activity


		Three months ended June 30,			Six months ended June 30,
(in millions)		2021		2020	2021		2020
Realized gains (losses)	$	15	$	(16)	$	127	$	(60)
Unrealized gains (losses)		16		(31)		10		(114)

Notional Volumes of Derivative Instruments



	Unit of	Economic Hedges
Commodity	Measure	June 30, 2021	December 31, 2020
Electricity options, swaps and forwards	GWh	647	1,581
Natural gas options, swaps and forwards	Bcf	53	34
Congestion revenue rights	GWh	29,285	41,151