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Fair Value (Tables)
 6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Assets and liabilities measured and recorded at fair value on a recurring basis
The following table presents assets and liabilities measured and recorded at fair value on a recurring basis as of June 30, 2013 and December 31, 2012:
 
June 30, 2013
 
December 31, 2012
 
Level 1
 
Level 2
 
Level 3
 
Netting (a)
 
Net Balance
 
Level 1
 
Level 2
 
Level 3
 
Netting (a)
 
Net Balance
 
(In millions)
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents (b)
$
—

 
$
112

 
$
—

 
$
—

 
$
112

 
$
—

 
$
123

 
$
—

 
$
—

 
$
123

Nuclear decommissioning trusts
749

 
331

 
—

 
—

 
1,080

 
694

 
343

 
—

 
—

 
1,037

Other investments (c) (d)
72

 
47

 
—

 
—

 
119

 
66

 
44

 
—

 
—

 
110

Derivative assets:
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

 
 

 
 
Commodity Contracts:
 

 
 

 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
 
Natural Gas
365

 
107

 
32

 
(490
)
 
14

 
555

 
66

 
24

 
(605
)
 
40

Electricity
—

 
219

 
98

 
(220
)
 
97

 
—

 
226

 
134

 
(258
)
 
102

Other
45

 
8

 
2

 
(49
)
 
6

 
6

 
3

 
2

 
(6
)
 
5

Total derivative assets
410

 
334

 
132

 
(759
)
 
117

 
561

 
295

 
160

 
(869
)
 
147

Total
$
1,231

 
$
824

 
$
132

 
$
(759
)
 
$
1,428

 
$
1,321

 
$
805

 
$
160

 
$
(869
)
 
$
1,417

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency exchange contracts
$
—

 
$
(1
)
 
$
—

 
$
—

 
$
(1
)
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Interest rate contracts
—

 
—

 
—

 
—

 
—

 
—

 
(1
)
 
—

 
—

 
(1
)
Commodity Contracts:
 

 
 

 
 

 
 

 
 
 
 

 
 

 
 

 
 

 
 
Natural Gas
(362
)
 
(86
)
 
(62
)
 
469

 
(41
)
 
(526
)
 
(73
)
 
(62
)
 
605

 
(56
)
Electricity
—

 
(221
)
 
(86
)
 
247

 
(60
)
 
—

 
(240
)
 
(111
)
 
258

 
(93
)
Other
(47
)
 
(5
)
 
—

 
48

 
(4
)
 
(6
)
 
(1
)
 
—

 
6

 
(1
)
Total derivative liabilities
(409
)
 
(313
)
 
(148
)
 
764

 
(106
)
 
(532
)
 
(315
)
 
(173
)
 
869

 
(151
)
Total
$
(409
)
 
$
(313
)
 
$
(148
)
 
$
764

 
$
(106
)
 
$
(532
)
 
$
(315
)
 
$
(173
)
 
$
869

 
$
(151
)
Net Assets (Liabilities) at the end of the period
$
822

 
$
511

 
$
(16
)
 
$
5

 
$
1,322

 
$
789

 
$
490

 
$
(13
)
 
$
—

 
$
1,266

Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
$
379

 
$
389

 
$
101

 
$
(667
)
 
$
202

 
$
493

 
$
372

 
$
120

 
$
(754
)
 
$
231

Noncurrent (e)
852

 
435

 
31

 
(92
)
 
1,226

 
828

 
433

 
40

 
(115
)
 
1,186

Total Assets
$
1,231

 
$
824

 
$
132

 
$
(759
)
 
$
1,428

 
$
1,321

 
$
805

 
$
160

 
$
(869
)
 
$
1,417

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current
$
(368
)
 
$
(263
)
 
$
(119
)
 
$
660

 
$
(90
)
 
$
(466
)
 
$
(269
)
 
$
(144
)
 
$
754

 
$
(125
)
Noncurrent
(41
)
 
(50
)
 
(29
)
 
104

 
(16
)
 
(66
)
 
(46
)
 
(29
)
 
115

 
(26
)
Total Liabilities
$
(409
)
 
$
(313
)
 
$
(148
)
 
$
764

 
$
(106
)
 
$
(532
)
 
$
(315
)
 
$
(173
)
 
$
869

 
$
(151
)
Net Assets (Liabilities) at the end of the period
$
822

 
$
511

 
$
(16
)
 
$
5

 
$
1,322

 
$
789

 
$
490

 
$
(13
)
 
$
—

 
$
1,266


_______________________________________
(a)
Amounts represent the impact of master netting agreements that allow the Company to net gain and loss positions and cash collateral held or placed with the same counterparties.
(b)
At June 30, 2013, available-for-sale securities of $112 million included $96 million and $16 million of cash equivalents included in Restricted cash and Other investments, respectively, on the Consolidated Statements of Financial Position. At December 31, 2012, available-for-sale securities of $123 million, included $109 million and $14 million of cash equivalents included in Restricted cash and Other investments, respectively, on the Consolidated Statements of Financial Position.
(c)
Excludes cash surrender value of life insurance investments.
(d)
Available-for-sale equity securities of $6 million at June 30, 2013 and $5 million at December 31, 2012, are included in Other investments on the Consolidated Statements of Financial Position.
(e)
Includes $119 million and $110 million at June 30, 2013 and December 31, 2012, respectively, of Other investments that are included in the Consolidated Statements of Financial Position in Other investments.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis for the three months and six months ended June 30, 2013 and 2012:

 
Three Months Ended June 30, 2013
 
Three Months Ended June 30, 2012
 
Natural Gas
 
Electricity
 
Other
 
Total
 
Natural Gas
 
Electricity
 
Other
 
Total
 
(In millions)
Net Assets (Liabilities) as of March 31
$
(34
)
 
$
(9
)
 
$
2

 
$
(41
)
 
$
6

 
$
25

 
$
6

 
$
37

Transfers into Level 3
—

 
—

 
—

 
—

 
1

 
—

 
—

 
1

Transfers out of Level 3
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total gains (losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Included in earnings
(2
)
 
18

 
(1
)
 
15

 
(1
)
 
56

 
(3
)
 
52

Recorded in regulatory assets/liabilities
—

 
—

 
3

 
3

 
—

 
—

 
4

 
4

Purchases, issuances and settlements:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Settlements
6

 
3

 
(2
)
 
7

 
(4
)
 
(31
)
 
(2
)
 
(37
)
Net Assets (Liabilities) as of June 30
$
(30
)
 
$
12

 
$
2

 
$
(16
)
 
$
2

 
$
50

 
$
5

 
$
57

The amount of total gains (losses) included in net income attributed to the change in unrealized gains (losses) related to assets and liabilities held at June 30, 2013 and 2012 and reflected in Operating revenues and Fuel, purchased power and gas in the Consolidated Statements of Operations
$
(1
)
 
$
33

 
$
(1
)
 
$
31

 
$
(2
)
 
$
38

 
$
(3
)
 
$
33


 
Six Months Ended June 30, 2013
 
Six Months Ended June 30, 2012
 
Natural Gas
 
Electricity
 
Other
 
Total
 
Natural Gas
 
Electricity
 
Other
 
Total
 
(In millions)
Net Assets (Liabilities) as of December 31
$
(38
)
 
$
23

 
$
2

 
$
(13
)
 
$
6

 
$
32

 
$
6

 
$
44

Transfers into Level 3
—

 
—

 
—

 
—

 
1

 
28

 
—

 
29

Transfers out of Level 3
(2
)
 
—

 
—

 
(2
)
 
(2
)
 
—

 
—

 
(2
)
Total gains (losses):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Included in earnings
(10
)
 
26

 
(1
)
 
15

 
6

 
41

 
(2
)
 
45

Recorded in regulatory assets/liabilities
—

 
—

 
4

 
4

 
—

 
—

 
5

 
5

Purchases, issuances and settlements:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Purchases
—

 
1

 
—

 
1

 
—

 
—

 
—

 
—

Settlements
20

 
(38
)
 
(3
)
 
(21
)
 
(9
)
 
(51
)
 
(4
)
 
(64
)
Net Assets (Liabilities) as of June 30
$
(30
)
 
$
12

 
$
2

 
$
(16
)
 
$
2

 
$
50

 
$
5

 
$
57

The amount of total gains (losses) included in net income attributed to the change in unrealized gains (losses) related to assets and liabilities held at June 30, 2013 and 2012 and reflected in Operating revenues and Fuel, purchased power and gas in the Consolidated Statements of Operations
$
(6
)
 
$
27

 
$
(1
)
 
$
20

 
$
4

 
$
38

 
$
(2
)
 
$
40
Transfers Between Level 1 Level 2 and Level 3 [Table Text Block]
The following table shows transfers between the levels of the fair value hierarchy for the three months and six months ended June 30, 2013 and 2012:
 
Three Months Ended June 30, 2013
Three Months Ended June 30, 2012
 
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
 
(In millions)
Transfers into Level 1 from
$ N/A

 
$
—

 
$
—

 
$ N/A

 
$
—

 
$
—

Transfers into Level 2 from
—

 
N/A

 
—

 
—

 
N/A

 
—

Transfers into Level 3 from
—

 
—

 
N/A

 
—

 
1

 
N/A




 
Six Months Ended June 30, 2013
Six Months Ended June 30, 2012
 
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
 
(In millions)
Transfers into Level 1 from
$ N/A

 
$
—

 
$
—

 
$ N/A

 
$
—

 
$
—

Transfers into Level 2 from
—

 
N/A

 
2

 
—

 
N/A

 
2

Transfers into Level 3 from
—

 
—

 
N/A

 
—

 
29

 
N/A
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
The following table presents the unobservable inputs related to Level 3 assets and liabilities as of June 30, 2013:
 
 
June 30, 2013
 
 
 
 
 
 
 
 
 
 
Commodity Contracts
 
Derivative Assets
 
Derivative Liabilities
 
Valuation Techniques
 
Unobservable Input
 
Range
 
Weighted Average
 
 
(In millions)
 
 
 
 
 
 
 
 
 
 
Natural Gas
 
$
32

 
$
(62
)
 
Discounted Cash Flow
 
Forward basis price (per MMBtu)
 
$
(2.63
)
—
$
0.54
/MMBtu
 
$
0.01
/MMBtu
Electricity
 
$
98

 
$
(86
)
 
Discounted Cash Flow
 
Forward basis price (per MWh)
 
$
(8
)
—
$
17
/MWh
 
$
3
/MWh


The following table presents the unobservable inputs related to Level 3 assets and liabilities as of December 31, 2012:
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
Commodity Contracts
 
Derivative Assets
 
Derivative Liabilities
 
Valuation Techniques
 
Unobservable Input
 
Range
 
Weighted Average
 
 
(In millions)
 
 
 
 
 
 
 
 
 
 
Natural Gas
 
$
24

 
$
(62
)
 
Discounted Cash Flow
 
Forward basis price (per MMBtu)
 
$
(0.63
)
—
$
1.95
/MMBtu
 
$
0.03
/MMBtu
Electricity
 
$
134

 
$
(111
)
 
Discounted Cash Flow
 
Forward basis price (per MWh)
 
$
(2
)
—
$
16
/MWh
 
$
3
/MWh
Fair Value of Financial Instruments [Table Text Block]
The following table presents the carrying amount and fair value of financial instruments as of June 30, 2013 and December 31, 2012:
 
June 30, 2013
 
December 31, 2012
 
Carrying
 
Fair Value
 
Carrying
 
Fair Value
 
Amount
 
Level 1
 
Level 2
 
Level 3
 
Amount
 
Level 1
 
Level 2
 
Level 3
 
(In millions)
Notes receivable, excluding capital leases
$
36

 
$
—

 
$
—

 
$
36

 
$
39

 
$
—

 
$
—

 
$
39

Dividends payable
229

 
229

 
—

 
—

 
107

 
107

 
—

 
—

Short-term borrowings
216

 
—

 
216

 
—

 
240

 
—

 
240

 
—

Long-term debt
7,671

 
487

 
6,556

 
1,008

 
7,813

 
507

 
7,453

 
933
Fair Value of Nuclear Decommissioning Trust Fund Assets Text Block [Table]
The following table summarizes the fair value of the nuclear decommissioning trust fund assets:
 
June 30, 2013
 
December 31, 2012
 
(In millions)
Fermi 2
$
1,063

 
$
1,021

Fermi 1
3

 
3

Low level radioactive waste
14

 
13

Total
$
1,080

 
$
1,037
Schedule of Realized Gain (Loss) [Table Text Block]
The following table sets forth the gains and losses and proceeds from the sale of securities by the nuclear decommissioning trust funds:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
 
(In millions)
Realized gains
$
11

 
$
8

 
$
19

 
$
14

Realized losses
$
(7
)
 
$
(7
)
 
$
(14
)
 
$
(11
)
Proceeds from sales of securities
$
15

 
$
25

 
$
27

 
$
36
Fair Value and Unrealized Gains for Nuclear Decommissioning Trust Fund Table [Table] [Table Text Block]
The following table sets forth the fair value and unrealized gains for the nuclear decommissioning trust funds:
 
June 30, 2013
 
December 31, 2012
 
Fair
Value
 
Unrealized
Gains
 
Fair
Value
 
Unrealized
Gains
 
(In millions)
Equity securities
$
679

 
$
161

 
$
631

 
$
122

Debt securities
390

 
15

 
399

 
27

Cash and cash equivalents
11

 
—

 
7

 
—

 
$
1,080

 
$
176

 
$
1,037

 
$
149