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Related Party Transactions
6 Months Ended
Jun. 30, 2020
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions
We have entered into various agreements with related parties associated with the operation of our business. A description of these related party transactions is provided below:
Calpine Receivables — Under the Accounts Receivable Sales Program, at June 30, 2020 and December 31, 2019, we had $195 million and $222 million, respectively, in trade accounts receivable outstanding that were sold to Calpine Receivables and $41 million and $38 million, respectively, in notes receivable from Calpine Receivables which were recorded on our Consolidated Condensed Balance Sheets. During the six months ended June 30, 2020 and 2019, we sold an aggregate of $1.0 billion and $1.1 billion, respectively, in trade accounts receivable and recorded $1.0 billion and $1.1 billion, respectively, in proceeds. For a further discussion of the Accounts Receivable Sales Program and Calpine Receivables, see Notes 7 and 17 in our 2019 Form 10-K.
Lyondell — We have a ground lease agreement with Houston Refining LP (“Houston Refining”), a subsidiary of Lyondell, for our Channel Energy Center site from which we sell power, capacity and steam to Houston Refining under a PPA. We purchase refinery gas and raw water from Houston Refining under a facilities services agreement. One of the entities which has a material ownership interest in Calpine also has an ownership interest in Lyondell whereby they may significantly influence the management and operating policies of Lyondell. We recorded $14 million and $17 million in operating revenues during the three months ended June 30, 2020 and 2019, respectively, and $27 million and $37 million in operating revenues during the six months ended June 30, 2020 and 2019, respectively. We recorded $3 million and $4 million in operating expenses during the three months ended June 30, 2020 and 2019, respectively, and $6 million and $7 million in operating expenses during the six months ended June 30, 2020 and 2019, respectively, associated with the Lyondell contract. At June 30, 2020 and December 31, 2019, the related party receivable and payable associated with the Lyondell contract were immaterial.
Other — We have identified other related party contracts for the sale of power, capacity, steam and RECs which are entered into in the ordinary course of our business. Most of these contracts relate to the sale of commodities and capacity for varying tenors. We have also entered into a long-term land lease agreement with a related party. As of June 30, 2020 and December 31, 2019, the related party revenues, expenses, receivables and payables associated with these transactions were immaterial.