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Accounting for Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended
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Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Net notional volume buy/(sell) of NRG's open derivative transactions broken out by commodity | The following table summarizes the net notional volume buy/(sell) of NRG's open derivative transactions broken out by category, excluding those derivatives that qualified for the NPNS exception, as of June 30, 2018 and December 31, 2017. Option contracts are reflected using delta volume. Delta volume equals the notional volume of an option adjusted for the probability that the option will be in-the-money at its expiration date.
|  | Total Volume
|  | June 30, 2018 |  | December 31, 2017
Category | Units | (In millions)
Emissions | Short Ton | 2 |  |  | 1 |
Coal | Short Ton | 12 |  |  | 21 |
Natural Gas | MMBtu | (551 | ) |  | (17 | )
Power | MWh | 16 |  |  | 14 |
Capacity | MW/Day | (1 | ) |  | (1 | )
Interest | Dollars | $ | 4,016 |  |  | $ | 3,876 |
Equity | Shares | — |  |  | 1 |
Fair value within the derivative instrument valuation on the balance sheets | The following table summarizes the fair value within the derivative instrument valuation on the balance sheets:
| Fair Value
| Derivative Assets |  | Derivative Liabilities
| June 30, 2018 |  | December 31, 2017 |  | June 30, 2018 |  | December 31, 2017
| (In millions)
Derivatives Designated as Cash Flow or Fair Value Hedges: |  |  |  |  |  |  |
Interest rate contracts current | $ | 3 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 5 |
Interest rate contracts long-term | 23 |  |  | 11 |  |  | 5 |  |  | 11 |
Total Derivatives Designated as Cash Flow or Fair Value Hedges | 26 |  |  | 12 |  |  | 7 |  |  | 16 |
Derivatives Not Designated as Cash Flow or Fair Value Hedges: |  |  |  |  |  |  |
Interest rate contracts current | 16 |  |  | 9 |  |  | 5 |  |  | 15 |
Interest rate contracts long-term | 66 |  |  | 32 |  |  | 11 |  |  | 28 |
Commodity contracts current | 832 |  |  | 616 |  |  | 702 |  |  | 535 |
Commodity contracts long-term | 337 |  |  | 129 |  |  | 269 |  |  | 158 |
Total Derivatives Not Designated as Cash Flow or Fair Value Hedges | 1,251 |  |  | 786 |  |  | 987 |  |  | 736 |
Total Derivatives | $ | 1,277 |  |  | $ | 798 |  |  | $ | 994 |  |  | $ | 752 |
Offsetting of derivatives by counterparty assets | The following table summarizes the offsetting of derivatives by counterparty master agreement level and collateral received or paid:
|  | Gross Amounts Not Offset in the Statement of Financial Position
|  | Gross Amounts of Recognized Assets / Liabilities |  | Derivative Instruments |  | Cash Collateral (Held) / Posted |  | Net Amount
As of June 30, 2018 |  | (In millions)
Commodity contracts: |  |  |  |  |  |  |  |
Derivative assets |  | $ | 1,169 |  |  | $ | (817 | ) |  | $ | (50 | ) |  | $ | 302 |
Derivative liabilities |  | (971 | ) |  | 817 |  |  | 98 |  |  | (56 | )
Total commodity contracts |  | 198 |  |  | — |  |  | 48 |  |  | 246 |
Interest rate contracts: |  |  |  |  |  |  |  |
Derivative assets |  | 108 |  |  | (3 | ) |  | — |  |  | 105 |
Derivative liabilities |  | (23 | ) |  | 3 |  |  | — |  |  | (20 | )
Total interest rate contracts |  | 85 |  |  | — |  |  | — |  |  | 85 |
Total derivative instruments |  | $ | 283 |  |  | $ | — |  |  | $ | 48 |  |  | $ | 331 |
|  | Gross Amounts Not Offset in the Statement of Financial Position
|  | Gross Amounts of Recognized Assets / Liabilities |  | Derivative Instruments |  | Cash Collateral (Held) / Posted |  | Net Amount
As of December 31, 2017 |  | (In millions)
Commodity contracts: |  |  |  |  |  |  |  |
Derivative assets |  | $ | 745 |  |  | $ | (578 | ) |  | $ | (11 | ) |  | $ | 156 |
Derivative liabilities |  | (693 | ) |  | 578 |  |  | 73 |  |  | (42 | )
Total commodity contracts |  | 52 |  |  | — |  |  | 62 |  |  | 114 |
Interest rate contracts: |  |  |  |  |  |  |  |
Derivative assets |  | 53 |  |  | (3 | ) |  | — |  |  | 50 |
Derivative liabilities |  | (59 | ) |  | 3 |  |  | — |  |  | (56 | )
Total interest rate contracts |  | (6 | ) |  | — |  |  | — |  |  | (6 | )
Total derivative instruments |  | $ | 46 |  |  | $ | — |  |  | $ | 62 |  |  | $ | 108 |
Offsetting of derivatives by counterparty, liabilities | The following table summarizes the offsetting of derivatives by counterparty master agreement level and collateral received or paid:
|  | Gross Amounts Not Offset in the Statement of Financial Position
|  | Gross Amounts of Recognized Assets / Liabilities |  | Derivative Instruments |  | Cash Collateral (Held) / Posted |  | Net Amount
As of June 30, 2018 |  | (In millions)
Commodity contracts: |  |  |  |  |  |  |  |
Derivative assets |  | $ | 1,169 |  |  | $ | (817 | ) |  | $ | (50 | ) |  | $ | 302 |
Derivative liabilities |  | (971 | ) |  | 817 |  |  | 98 |  |  | (56 | )
Total commodity contracts |  | 198 |  |  | — |  |  | 48 |  |  | 246 |
Interest rate contracts: |  |  |  |  |  |  |  |
Derivative assets |  | 108 |  |  | (3 | ) |  | — |  |  | 105 |
Derivative liabilities |  | (23 | ) |  | 3 |  |  | — |  |  | (20 | )
Total interest rate contracts |  | 85 |  |  | — |  |  | — |  |  | 85 |
Total derivative instruments |  | $ | 283 |  |  | $ | — |  |  | $ | 48 |  |  | $ | 331 |
|  | Gross Amounts Not Offset in the Statement of Financial Position
|  | Gross Amounts of Recognized Assets / Liabilities |  | Derivative Instruments |  | Cash Collateral (Held) / Posted |  | Net Amount
As of December 31, 2017 |  | (In millions)
Commodity contracts: |  |  |  |  |  |  |  |
Derivative assets |  | $ | 745 |  |  | $ | (578 | ) |  | $ | (11 | ) |  | $ | 156 |
Derivative liabilities |  | (693 | ) |  | 578 |  |  | 73 |  |  | (42 | )
Total commodity contracts |  | 52 |  |  | — |  |  | 62 |  |  | 114 |
Interest rate contracts: |  |  |  |  |  |  |  |
Derivative assets |  | 53 |  |  | (3 | ) |  | — |  |  | 50 |
Derivative liabilities |  | (59 | ) |  | 3 |  |  | — |  |  | (56 | )
Total interest rate contracts |  | (6 | ) |  | — |  |  | — |  |  | (6 | )
Total derivative instruments |  | $ | 46 |  |  | $ | — |  |  | $ | 62 |  |  | $ | 108 |
Effects of ASC 815 on the Company's accumulated OCI balance attributable to cash flow hedge derivatives, net of tax | The following table summarizes the effects of ASC 815 on the Company's accumulated OCI balance attributable to cash flow hedge derivatives, net of tax:
| Interest Rate Contracts
| Three months ended June 30, |  | Six months ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (In millions)
Accumulated OCI beginning balance | $ | (31 | ) |  | $ | (61 | ) |  | $ | (54 | ) |  | $ | (66 | )
Reclassified from accumulated OCI to income: |  |  |  |  |  |  |
Due to realization of previously deferred amounts | 3 |  |  | 3 |  |  | 7 |  |  | 6 |
Mark-to-market of cash flow hedge accounting contracts | 5 |  |  | (9 | ) |  | 24 |  |  | (7 | )
Accumulated OCI ending balance, net of $5, and $16 tax | $ | (23 | ) |  | $ | (67 | ) |  | $ | (23 | ) |  | $ | (67 | )
Losses expected to be realized from OCI during the next 12 months, net of $1 tax | $ | 8 |  |  |  |  |  | $ | 8 |  |  |  |
Pre-tax effects of economic hedges that have not been designated as cash flow hedges, ineffectiveness on cash flow hedges and trading activity on the Company's statement of operations | The following table summarizes the pre-tax effects of economic hedges that have not been designated as cash flow hedges and trading activity on the Company's statement of operations. The effect of energy commodity contracts is included within operating revenues and cost of operations and the effect of interest rate contracts is included in interest expense.
| Three months ended June 30, |  | Six months ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Unrealized mark-to-market results | (In millions)
Reversal of previously recognized unrealized (gains)/losses on settled positions related to economic hedges | $ | (3 | ) |  | $ | 22 |  |  | $ | (1 | ) |  | $ | 25 |
Reversal of acquired (gain)/loss positions related to economic hedges | (1 | ) |  | 1 |  |  | (1 | ) |  | 1 |
Net unrealized (losses)/gains on open positions related to economic hedges | (67 | ) |  | 36 |  |  | 127 |  |  | 15 |
Total unrealized mark-to-market (losses)/gains for economic hedging activities | (71 | ) |  | 59 |  |  | 125 |  |  | 41 |
Reversal of previously recognized unrealized gains on settled positions related to trading activity | (3 | ) |  | (4 | ) |  | (6 | ) |  | (19 | )
Net unrealized gains on open positions related to trading activity | 8 |  |  | 16 |  |  | 19 |  |  | 17 |
Total unrealized mark-to-market gains/(losses) for trading activity | 5 |  |  | 12 |  |  | 13 |  |  | (2 | )
Total unrealized (losses)/gains | $ | (66 | ) |  | $ | 71 |  |  | $ | 138 |  |  | $ | 39 |
| Three months ended June 30, |  | Six months ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (In millions)
Unrealized gains/(losses) included in operating revenues | $ | 20 |  |  | $ | 53 |  |  | $ | (78 | ) |  | $ | 157 |
Unrealized (losses)/gains included in cost of operations | (86 | ) |  | 18 |  |  | 216 |  |  | (118 | )
Total impact to statement of operations — energy commodities | $ | (66 | ) |  | $ | 71 |  |  | $ | 138 |  |  | $ | 39 |
Total impact to statement of operations — interest rate contracts | $ | 13 |  |  | $ | (24 | ) |  | $ | 61 |  |  | $ | (19 | )

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