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Accounting for Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31, 2019 and December 31, 2018. 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
		March 31, 2019				December 31, 2018
Category	Units	(In millions)
Emissions	Short Ton	1				(2		)
Renewable Energy Certificates	Certificates	1				1
Coal	Short Ton	9				13
Natural Gas	MMBtu	(236		)		(330		)
Oil	Barrels	—				1
Power	MWh	8				1
Capacity	MW/Day	(1		)		(1		)
Interest	Dollars	$	1,000			$	1,000

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
	March 31, 2019				December 31, 2018				March 31, 2019				December 31, 2018
	(In millions)
Derivatives Not Designated as Cash Flow or Fair Value Hedges:
Interest rate contracts current	$	15			$	17			$	—			$	—
Interest rate contracts long-term	14				22				—				—
Commodity contracts current	596				747				489				673
Commodity contracts long-term	333				295				350				304
Total Derivatives Not Designated as Cash Flow or Fair Value Hedges	$	958			$	1,081			$	839			$	977

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 March 31, 2019 Balance Sheet
		Gross Amounts of Recognized Assets / Liabilities				Derivative Instruments				Cash Collateral (Held) / Posted				Net Amount
		(In millions)
Commodity contracts:
Derivative assets		$	929			$	(689	)		$	(5	)		$	235
Derivative liabilities		(839		)		689				92				(58		)
Total commodity contracts		90				—				87				177
Interest rate contracts:
Derivative assets		29				—				—				29
Total interest rate contracts		29				—				—				29
Total derivative instruments		$	119			$	—			$	87			$	206

		Gross Amounts Not Offset in the December 31, 2018 Balance Sheet
		Gross Amounts of Recognized Assets / Liabilities				Derivative Instruments				Cash Collateral (Held) / Posted				Net Amount
		(In millions)
Commodity contracts:
Derivative assets		$	1,042			$	(778	)		$	(31	)		$	233
Derivative liabilities		(977		)		778				114				(85		)
Total commodity contracts		65				—				83				148
Interest rate contracts:
Derivative assets		39				—				—				39
Total interest rate contracts		39				—				—				39
Total derivative instruments		$	104			$	—			$	83			$	187

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 March 31, 2019 Balance Sheet
		Gross Amounts of Recognized Assets / Liabilities				Derivative Instruments				Cash Collateral (Held) / Posted				Net Amount
		(In millions)
Commodity contracts:
Derivative assets		$	929			$	(689	)		$	(5	)		$	235
Derivative liabilities		(839		)		689				92				(58		)
Total commodity contracts		90				—				87				177
Interest rate contracts:
Derivative assets		29				—				—				29
Total interest rate contracts		29				—				—				29
Total derivative instruments		$	119			$	—			$	87			$	206

		Gross Amounts Not Offset in the December 31, 2018 Balance Sheet
		Gross Amounts of Recognized Assets / Liabilities				Derivative Instruments				Cash Collateral (Held) / Posted				Net Amount
		(In millions)
Commodity contracts:
Derivative assets		$	1,042			$	(778	)		$	(31	)		$	233
Derivative liabilities		(977		)		778				114				(85		)
Total commodity contracts		65				—				83				148
Interest rate contracts:
Derivative assets		39				—				—				39
Total interest rate contracts		39				—				—				39
Total derivative instruments		$	104			$	—			$	83			$	187

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 on the Company's accumulated OCL balance attributable to cash flow hedge derivatives, net of tax:

	Interest Rate Contracts
	Three months ended March 31,
	2019				2018
	(In millions)
Accumulated OCL beginning balance	$	—			$	(54	)
Reclassified from accumulated OCL to income:
Due to realization of previously deferred amounts	—				4
Mark-to-market of cash flow hedge accounting contracts	—				19
Accumulated OCL ending balance, net of $0, and $6 tax	$	—			$	(31	)

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 commodity hedges is included within operating revenues and cost of operations and the effect of interest rate hedges is included in interest expense.

	Three months ended March 31,
	2019				2018
Unrealized mark-to-market results	(In millions)
Reversal of previously recognized unrealized losses on settled positions related to economic hedges	$	19			$	1
Reversal of acquired gain positions related to economic hedges	(2		)		—
Net unrealized gains on open positions related to economic hedges	3				205
Total unrealized mark-to-market gains for economic hedging activities	20				206
Reversal of previously recognized unrealized gains on settled positions related to trading activity	(6		)		(3		)
Net unrealized gains on open positions related to trading activity	13				11
Total unrealized mark-to-market gains for trading activity	7				8
Total unrealized gains	$	27			$	214

	Three months ended March 31,
	2019				2018
	(In millions)
Unrealized gains/(losses) included in operating revenues	$	27			$	(88	)
Unrealized gains included in cost of operations	—				302
Total impact to statement of operations — energy commodities	$	27			$	214
Total impact to statement of operations — interest rate contracts	$	(9	)		$	12

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