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Recurring Fair Value Measurements (Details) - USD ($) | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Return Cash Collateral |  | $ 32,000,000 |  | $ 32,000,000 |  | $ 32,000,000
Reclaim Cash Collateral |  | 6,000,000 |  | 6,000,000 |  | 11,000,000
Commodity Trading |  |  |  |  |  |
Changes in Level 3 Commodity Derivatives [Roll Forward] |  |  |  |  |  |
Balance at beginning of period |  | 34,000,000 | $ 28,000,000 | 4,000,000 | $ 29,000,000 |
Purchases |  | 0 | 5,000,000 | 49,000,000 | 42,000,000 |
Settlements |  | (17,000,000) | (21,000,000) | (59,000,000) | (48,000,000) |
Gains (losses) recognized in earnings | [1] | (25,000,000) | 1,000,000 | (11,000,000) | (9,000,000) |
Net gains recognized as regulatory assets and liabilities |  | 2,000,000 | 2,000,000 | 11,000,000 | 1,000,000 |
Balance at end of period |  | (6,000,000) | 15,000,000 | (6,000,000) | 15,000,000 |
Transfers Level 3, Net |  | 0 | $ 0 | 0 | $ 0 |
Other Current Assets |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Net |  | 69,000,000 |  | 69,000,000 |  | 55,000,000
Other Noncurrent Assets |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Net |  | 31,000,000 |  | 31,000,000 |  | 22,000,000
Other Current Liabilities |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Net |  | 48,000,000 |  | 48,000,000 |  | 38,000,000
Other Noncurrent Liabilities |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Net |  | 158,000,000 |  | 158,000,000 |  | 175,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 116,000,000 |  | 116,000,000 |  | 105,000,000
Netting | [2] | (50,000,000) |  | (50,000,000) |  | (53,000,000)
Derivative Asset, Net |  | 66,000,000 |  | 66,000,000 |  | 52,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 1 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 10,000,000 |  | 10,000,000 |  | 3,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 2 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 67,000,000 |  | 67,000,000 |  | 57,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Level 3 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 39,000,000 |  | 39,000,000 |  | 45,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 68,000,000 |  | 68,000,000 |  | 78,000,000
Netting | [2] | (49,000,000) |  | (49,000,000) |  | (52,000,000)
Derivative Asset, Net |  | 19,000,000 |  | 19,000,000 |  | 26,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Electric Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 32,000,000 |  | 32,000,000 |  | 21,000,000
Netting | [2] | (1,000,000) |  | (1,000,000) |  | (1,000,000)
Derivative Asset, Net |  | 31,000,000 |  | 31,000,000 |  | 20,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Natural Gas Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 16,000,000 |  | 16,000,000 |  | 6,000,000
Netting | [2] | 0 |  | 0 |  | 0
Derivative Asset, Net |  | 16,000,000 |  | 16,000,000 |  | 6,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 10,000,000 |  | 10,000,000 |  | 3,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Electric Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 0 |  | 0 |  | 0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 1 | Natural Gas Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 0 |  | 0 |  | 0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 51,000,000 |  | 51,000,000 |  | 51,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Electric Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 0 |  | 0 |  | 0
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 2 | Natural Gas Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 16,000,000 |  | 16,000,000 |  | 6,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 7,000,000 |  | 7,000,000 |  | 24,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Electric Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 32,000,000 |  | 32,000,000 |  | 21,000,000
Fair Value Measured on a Recurring Basis | Other Current Assets | Other Derivative Instruments | Level 3 | Natural Gas Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 0 |  | 0 |  | 0
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 67,000,000 |  | 67,000,000 |  | 54,000,000
Netting | [2] | (46,000,000) |  | (46,000,000) |  | (45,000,000)
Derivative Asset, Net |  | 21,000,000 |  | 21,000,000 |  | 9,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 1 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 10,000,000 |  | 10,000,000 |  | 9,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 2 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 36,000,000 |  | 36,000,000 |  | 38,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Level 3 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 21,000,000 |  | 21,000,000 |  | 7,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 67,000,000 |  | 67,000,000 |  | 54,000,000
Netting | [2] | (46,000,000) |  | (46,000,000) |  | (45,000,000)
Derivative Asset, Net |  | 21,000,000 |  | 21,000,000 |  | 9,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 1 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 10,000,000 |  | 10,000,000 |  | 9,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 2 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 36,000,000 |  | 36,000,000 |  | 38,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Assets | Other Derivative Instruments | Level 3 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Gross |  | 21,000,000 |  | 21,000,000 |  | 7,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 81,000,000 |  | 81,000,000 |  | 84,000,000
Netting | [2] | (50,000,000) |  | (50,000,000) |  | (64,000,000)
Derivative Liability, Net |  | 31,000,000 |  | 31,000,000 |  | 20,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 1 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 13,000,000 |  | 13,000,000 |  | 4,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 2 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 55,000,000 |  | 55,000,000 |  | 64,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Level 3 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 13,000,000 |  | 13,000,000 |  | 16,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 77,000,000 |  | 77,000,000 |  | 78,000,000
Netting | [2] | (49,000,000) |  | (49,000,000) |  | (63,000,000)
Derivative Liability, Net |  | 28,000,000 |  | 28,000,000 |  | 15,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Electric Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 1,000,000 |  | 1,000,000 |  | 1,000,000
Netting | [2] | (1,000,000) |  | (1,000,000) |  | (1,000,000)
Derivative Liability, Net |  | 0 |  | 0 |  | 0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Natural Gas Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 3,000,000 |  | 3,000,000 |  | 5,000,000
Netting | [2] | 0 |  | 0 |  | 0
Derivative Liability, Net |  | 3,000,000 |  | 3,000,000 |  | 5,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 1 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 13,000,000 |  | 13,000,000 |  | 4,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 1 | Electric Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 0 |  | 0 |  | 0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 1 | Natural Gas Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 0 |  | 0 |  | 0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 2 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 52,000,000 |  | 52,000,000 |  | 59,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 2 | Electric Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 0 |  | 0 |  | 0
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 2 | Natural Gas Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 3,000,000 |  | 3,000,000 |  | 5,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 3 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 12,000,000 |  | 12,000,000 |  | 15,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 3 | Electric Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 1,000,000 |  | 1,000,000 |  | 1,000,000
Fair Value Measured on a Recurring Basis | Other Current Liabilities | Other Derivative Instruments | Level 3 | Natural Gas Commodity |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 0 |  | 0 |  | 0
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 116,000,000 |  | 116,000,000 |  | 113,000,000
Netting | [2] | (20,000,000) |  | (20,000,000) |  | (13,000,000)
Derivative Liability, Net |  | 96,000,000 |  | 96,000,000 |  | 100,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 1 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 5,000,000 |  | 5,000,000 |  | 2,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 2 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 58,000,000 |  | 58,000,000 |  | 79,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Level 3 |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 53,000,000 |  | 53,000,000 |  | 32,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 116,000,000 |  | 116,000,000 |  | 113,000,000
Netting | [2] | (20,000,000) |  | (20,000,000) |  | (13,000,000)
Derivative Liability, Net |  | 96,000,000 |  | 96,000,000 |  | 100,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Level 1 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 5,000,000 |  | 5,000,000 |  | 2,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Level 2 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 58,000,000 |  | 58,000,000 |  | 79,000,000
Fair Value Measured on a Recurring Basis | Other Noncurrent Liabilities | Other Derivative Instruments | Level 3 | Commodity Trading |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Gross |  | 53,000,000 |  | 53,000,000 |  | 32,000,000
Fair Value, Measurements, Nonrecurring | Other Current Assets | PPAs |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Net | [3] | 3,000,000 |  | 3,000,000 |  | 3,000,000
Fair Value, Measurements, Nonrecurring | Other Noncurrent Assets | PPAs |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Asset, Net | [3] | 10,000,000 |  | 10,000,000 |  | 13,000,000
Fair Value, Measurements, Nonrecurring | Other Current Liabilities | PPAs |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Net | [3] | 17,000,000 |  | 17,000,000 |  | 18,000,000
Fair Value, Measurements, Nonrecurring | Other Noncurrent Liabilities | PPAs |  |  |  |  |  |
Derivatives, Fair Value [Line Items] |  |  |  |  |  |
Derivative Liability, Net | [3] | $ 62,000,000 |  | $ 62,000,000 |  | $ 75,000,000
[1] | Amounts relate to commodity derivatives held at the end of the period.
[2] | Xcel Energy nets derivative instruments and related collateral on its consolidated balance sheets when supported by a legally enforceable master netting agreement, and all derivative instruments and related collateral amounts were subject to master netting agreements at Sept. 30, 2020 and Dec. 31, 2019. At Sept. 30, 2020 and Dec. 31, 2019, derivative assets and liabilities include $32 million of obligations to return cash collateral and rights to reclaim cash collateral of $6 million and $11 million, respectively. Counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements.
[3] | During 2006, Xcel Energy qualified these contracts under the normal purchase exception. Based on this qualification, contracts are no longer adjusted to fair value and the previous carrying value of these contracts is being amortized over the remaining contract lives along with the offsetting regulatory assets and liabilities.

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