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Accounting for Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

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 commodity, excluding those derivatives that qualified for the NPNS exception as of December 31, 2020 and 2019. 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.

(In millions)						Total Volume
Commodity			Units			December 31, 2020						December 31, 2019
Emissions			Short Ton			1						3
Renewables Energy Certificates			Certificates			5						1
Coal			Short Ton			2						10
Natural Gas			MMBtu			(286)						(181)
Power			MWh			57						38
Capacity			MW/Day			(1)						(1)

Fair Value Within the Derivative Instrument Valuation On the Balance Sheet

The following table summarizes the fair value within the derivative instrument valuation on the balance sheet:

			Fair Value
			Derivative Assets												Derivative Liabilities
(In millions)			December 31, 2020						December 31, 2019						December 31, 2020						December 31, 2019
Derivatives Not Designated as Cash Flow or Fair Value Hedges:
Commodity contracts current			$	560					$	860					$	499					$	781
Commodity contracts long-term			261						310						385						322
Total Derivatives Not Designated as Cash Flow or Fair Value Hedges			$	821					$	1,170					$	884					$	1,103

Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received Or Paid

The following table summarizes the offsetting derivatives by counterparty master agreement level and collateral received or paid:

			Gross Amounts Not Offset in the Statement of Financial Position
(In millions)			Gross Amounts of Recognized Assets/Liabilities						Derivative Instruments						Cash Collateral (Held)/Posted						Net Amount
As of December 31, 2020
Commodity contracts:
Derivative assets			$	821					$	(658)					$	(5)					$	158
Derivative liabilities			(884)						658						—						(226)
Total commodity contracts			$	(63)					$	—					$	(5)					$	(68)

			Gross Amounts Not Offset in the Statement of Financial Position
(In millions)			Gross Amounts of Recognized Assets/Liabilities						Derivative Instruments						Cash Collateral (Held)/Posted						Net Amount
As of December 31, 2019
Commodity contracts:
Derivative assets			$	1,170					$	(909)					$	(7)					$	254
Derivative liabilities			(1,103)						909						73						(121)
Total commodity contracts			$	67					$	—					$	66					$	133

Effects on the Company's Accumulated OCI Balance Attributable to Cash Flow Hedge Derivatives, Net of Tax

The following table summarizes the effects on NRG's accumulated OCI balance attributable to cash flow hedge derivatives, net of tax, for the year 2018:

																											Interest Rate Contracts
(In millions)																											2018
Accumulated OCI beginning balance																											$	(54)
Reclassified from accumulated OCI to income:
Due to realization of previously deferred amounts																											8
Mark-to-market of cash flow hedge accounting contracts																											21
Sale of NRG Yield and Renewables																											25
Accumulated OCI ending balance																											$	—

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 or fair value 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.

			Year Ended December 31,
(In millions)			2020						2019						2018
Unrealized mark-to-market results
Reversal of previously recognized unrealized (gains) on settled positions related to economic hedges			$	(55)					$	(68)					$	(73)
Reversal of acquired loss/(gain) positions related to economic hedges			4						6						(10)
Net unrealized (losses)/gains on open positions related to economic hedges			(68)						42						97
Total unrealized mark-to-market (losses)/gains for economic hedging activities			(119)						(20)						14
Reversal of previously recognized unrealized (gains) on settled positions related to trading activity			(20)						(11)						(12)
Net unrealized gains on open positions related to trading activity			15						31						29
Total unrealized mark-to-market (losses)/gains for trading activity			(5)						20						17
Total unrealized (losses)/gains			$	(124)					$	—					$	31

			Year Ended December 31,
(In millions)			2020						2019						2018
Unrealized gains/(losses) included in operating revenues			$	90					$	53					$	(113)
Unrealized (losses)/gains included in cost of operations			(214)						(53)						144
Total impact to statement of operations — energy commodities			$	(124)					$	—					$	31
Total impact to statement of operations — interest rate contracts			$	—					$	(38)					$	—

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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