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Fair Value of Financial Assets and Liabilities - Recurring Fair Value Measurements (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Derivatives, Fair Value          
Reclaim Cash Collateral $ 0   $ 0   $ 0
Return Cash Collateral 0   0   0
Commodity Contract [Member]          
Changes in Level 3 Commodity Derivatives          
Balance at beginning of period 284 $ 41 27 $ 7  
Purchases [1] 4 2 241 11  
Settlements [1] (22) (18) (116) (39)  
Net gains recognized as regulatory assets and liabilities [1] (32) 12 82 58  
Balance at end of period 234 37 234 37  
Transfers Level 3, Net 0 $ 0 0 $ 0  
Other Current Assets          
Derivatives, Fair Value          
Derivative asset, net 237   237   30
Other Noncurrent Assets          
Derivatives, Fair Value          
Derivative asset, net 4   4   6
Other Current Liabilities          
Derivatives, Fair Value          
Derivative liability, net 4   4   4
Other Noncurrent Liabilities          
Derivatives, Fair Value          
Derivative liability, net 3   3   6
Fair Value Measured on a Recurring Basis | Other Current Assets          
Derivatives, Fair Value          
Derivative asset, gross 234   234   27
Asset, netting [2] 0   0   0
Derivative asset, net 234   234   27
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 1          
Derivatives, Fair Value          
Derivative asset, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 2          
Derivatives, Fair Value          
Derivative asset, gross 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 3          
Derivatives, Fair Value          
Derivative asset, gross 234   234   27
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Electric Commodity          
Derivatives, Fair Value          
Derivative asset, gross [3] 234   234   27
Asset, netting [2],[3] 0   0   0
Derivative asset, net [3] 234   234   27
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Electric Commodity          
Derivatives, Fair Value          
Derivative asset, gross [3] 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Electric Commodity          
Derivatives, Fair Value          
Derivative asset, gross [3] 0   0   0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Electric Commodity          
Derivatives, Fair Value          
Derivative asset, gross [3] 234   234   27
Fair Value, Measurements, Nonrecurring | Other Current Assets | PPAs          
Derivatives, Fair Value          
Derivative asset, net [4] 3   3   3
Fair Value, Measurements, Nonrecurring | Other Noncurrent Assets | PPAs          
Derivatives, Fair Value          
Derivative asset, net [4] 4   4   6
Fair Value, Measurements, Nonrecurring | Other Current Liabilities | PPAs          
Derivatives, Fair Value          
Derivative liability, net 4 [4]   4 [4]   4
Fair Value, Measurements, Nonrecurring | Other Noncurrent Liabilities | PPAs          
Derivatives, Fair Value          
Derivative liability, net $ 3 [4]   $ 3 [4]   $ 6
[1] Relates primarily to FTR instruments administered by SPP (annual auctions occurring in the second quarter). These instruments are utilized/intended to offset the impacts of transmission system congestion. Higher congestion costs have led to an increase in the fair value of FTRs. Due to regulatory recovery, changes in fair value are deferred as a regulatory asset or liability and do not have a material impact on net income.
[2] SPS nets derivative instruments and related collateral on its balance sheets when supported by a legally enforceable master netting agreement. At Sept. 30, 2022 and Dec. 31, 2021, derivative assets and liabilities include no obligations to return cash collateral or rights to reclaim cash collateral. Counterparty netting excludes settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.
[3] Amounts relate to FTR instruments administered by SPP (annual auctions occurring in the second quarter). These instruments are utilized/intended to offset the impacts of transmission system congestion. Higher congestion costs have led to an increase in the fair value of FTRs. Due to regulatory recovery, fair values for FTRs are offset/deferred as a regulatory asset or liability and do not have a material impact on net income.
[4] During 2006, SPS qualified these contracts under the normal purchase exception. Based on this qualification, the contracts are no longer adjusted to fair value and the previous carrying value of these contracts will be amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.