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Accounting for Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 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 September 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
		September 30, 2018				December 31, 2017
Category	Units	(In millions)
Emissions	Short Ton	3				1
Renewable Energy Certificates	Certificates	1				—
Coal	Short Ton	8				21
Natural Gas	MMBtu	(439		)		(20		)
Power	MWh	8				23
Capacity	MW/Day	(1		)		(1		)
Interest	Dollars	$	1,058			$	1,060
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
	September 30, 2018			December 31, 2017			September 30, 2018			December 31, 2017
	(In millions)
Derivatives Not Designated as Cash Flow or Fair Value Hedges:
Interest rate contracts current	17			8			—			1
Interest rate contracts long-term	36			31			2			5
Commodity contracts current	666			616			550			536
Commodity contracts long-term	356			128			355			138
Total Derivatives Not Designated as Cash Flow or Fair Value Hedges	1,075			783			907			680

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 September 30, 2018		(In millions)
Commodity contracts:
Derivative assets		$	1,022			$	(765	)		$	(18	)		$	239
Derivative liabilities		(905		)		765				30				(110		)
Total commodity contracts		117				—				12				129
Interest rate contracts:
Derivative assets		53				—				—				53
Derivative liabilities		(2		)		—				—				(2		)
Total interest rate contracts		51				—				—				51
Total derivative instruments		$	168			$	—			$	12			$	180

		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		$	744			$	(578	)		$	(11	)		$	155
Derivative liabilities		(674		)		578				72				(24		)
Total commodity contracts		70				—				61				131
Interest rate contracts:
Derivative assets		39				—				—				39
Derivative liabilities		(6		)		—				—				(6		)
Total interest rate contracts		33				—				—				33
Total derivative instruments		$	103			$	—			$	61			$	164

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 September 30, 2018		(In millions)
Commodity contracts:
Derivative assets		$	1,022			$	(765	)		$	(18	)		$	239
Derivative liabilities		(905		)		765				30				(110		)
Total commodity contracts		117				—				12				129
Interest rate contracts:
Derivative assets		53				—				—				53
Derivative liabilities		(2		)		—				—				(2		)
Total interest rate contracts		51				—				—				51
Total derivative instruments		$	168			$	—			$	12			$	180

		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		$	744			$	(578	)		$	(11	)		$	155
Derivative liabilities		(674		)		578				72				(24		)
Total commodity contracts		70				—				61				131
Interest rate contracts:
Derivative assets		39				—				—				39
Derivative liabilities		(6		)		—				—				(6		)
Total interest rate contracts		33				—				—				33
Total derivative instruments		$	103			$	—			$	61			$	164

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 September 30,								Nine months ended September 30,
	2018				2017				2018				2017
	(In millions)
Accumulated OCI beginning balance	$	(23	)		$	(67	)		$	(54	)		$	(66	)
Reclassified from accumulated OCI to income:
Due to realization of previously deferred amounts	1				4				8				10
Mark-to-market of cash flow hedge accounting contracts	(3		)		4				21				(3		)
Sale of NRG Yield and the Renewables Platform	25				—				25				—
Accumulated OCI ending balance, net of $0, and $15 tax	$	—			$	(59	)		$	—			$	(59	)

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 September 30,								Nine months ended September 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	$	(84	)		$	(7	)		$	(85	)		$	18
Reversal of acquired gain positions related to economic hedges	(10		)		(2		)		(11		)		(1		)
Net unrealized gains/(losses) on open positions related to economic hedges	25				(19		)		158				(8		)
Total unrealized mark-to-market (losses)/gains for economic hedging activities	(69		)		(28		)		62				9
Reversal of previously recognized unrealized gains on settled positions related to trading activity	(4		)		(5		)		(10		)		(24		)
Net unrealized gains on open positions related to trading activity	8				—				27				17
Total unrealized mark-to-market gains/(losses) for trading activity	4				(5		)		17				(7		)
Total unrealized (losses)/gains	$	(65	)		$	(33	)		$	79			$	2

	Three months ended September 30,								Nine months ended September 30,
	2018				2017				2018				2017
	(In millions)
Unrealized gains/(losses) included in operating revenues	$	59			$	17			$	(14	)		$	170
Unrealized (losses)/gains included in cost of operations	(124		)		(50		)		93				(168		)
Total impact to statement of operations — energy commodities	$	(65	)		$	(33	)		$	79			$	2
Total impact to statement of operations — interest rate contracts	$	2			$	3			$	17			$	(4	)

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