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Accounting for Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2023
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, 2023 and 2022. 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 (In millions)
CategoryUnitsDecember 31, 2023December 31, 2022
EmissionsShort Ton— 1 
Renewables Energy CertificatesCertificates12 15 
CoalShort Ton9 11 
Natural GasMMBtu838 422 
OilBarrels— 1 
PowerMWh201 192 
InterestDollars1,000 — 
Foreign ExchangeDollars548 569 
Consumer Financing ProgramDollars1,116 — 
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 AssetsDerivative Liabilities
(In millions)December 31, 2023December 31, 2022December 31, 2023December 31, 2022
Derivatives Not Designated as Cash Flow or Fair Value Hedges:
    
Interest rate contracts - current$12 $— $— $— 
Interest rate contracts - long-term— — 8 — 
Foreign exchange contracts - current3 11 4 1 
Foreign exchange contracts - long-term2 7 5 1 
Commodity contracts- current3,847 7,875 3,922 6,194 
Commodity contracts- long-term2,291 4,101 1,434 2,245 
Consumer Financing Program - current— — 93 — 
Consumer Financing Program - long-term— — 41 — 
Total Derivatives Not Designated as Cash Flow or Fair Value Hedges
$6,155 $11,994 $5,507 $8,441 
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/LiabilitiesDerivative InstrumentsCash Collateral (Held)/PostedNet Amount
As of December 31, 2023
Interest rate contracts:
Derivative assets$12 $(8)$— $4 
Derivative liabilities(8)8 — — 
Total interest rate contracts4 — — 4 
Foreign exchange contracts:
Derivative assets$5 $(5)$— $— 
Derivative liabilities(9)5 — (4)
Total foreign exchange contracts$(4)$— $— $(4)
Commodity contracts:
Derivative assets$6,138 $(4,926)$(74)$1,138 
Derivative liabilities(5,356)4,926 145 (285)
Total commodity contracts$782 $— $71 $853 
Consumer Financing Program:
Derivative liabilities$(134)$— $— $(134)
Total derivative instruments$648 $— $71 $719 
Gross Amounts Not Offset in the Statement of Financial Position
(In millions)Gross Amounts of Recognized Assets/LiabilitiesDerivative InstrumentsCash Collateral (Held)/PostedNet Amount
As of December 31, 2022
Foreign exchange contracts:
Derivative assets$18 $(2)$— $16 
Derivative liabilities(2)2 — — 
Total foreign exchange contracts$16 $— $— $16 
Commodity contracts:
Derivative assets$11,976 $(7,897)$(1,659)$2,420 
Derivative liabilities(8,439)7,897 20 (522)
Total commodity contracts$3,537 $— $(1,639)$1,898 
Total derivative instruments$3,553 $— $(1,639)$1,914 
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 foreign exchange and commodity hedges is included within revenues and cost of operations. The effect of the interest rate contracts are included within interest expense. The effect of the Consumer Financing Program is included in other income, net.
 Year Ended December 31,
(In millions)202320222021
Unrealized mark-to-market results  
Reversal of previously recognized unrealized (gains) on settled positions related to economic hedges
$(1,734)$(1,232)$(41)
Reversal of acquired loss positions related to economic hedges
20 2 256 
Net unrealized (losses)/gains on open positions related to economic hedges
(1,149)2,478 2,501 
Total unrealized mark-to-market (losses)/gains for economic hedging activities
(2,863)1,248 2,716 
Reversal of previously recognized unrealized losses/(gains) on settled positions related to trading activity
13 13 (18)
Reversal of acquired (gain) positions related to trading activity
— — (1)
Net unrealized gains/(losses) on open positions related to trading activity
25 (17)(13)
Total unrealized mark-to-market gains/(losses) for trading activity38 (4)(32)
Total unrealized (losses)/gains - commodities and foreign exchange$(2,825)$1,244 $2,684 
 Year Ended December 31,
(In millions)202320222021
Total impact to statement of operations - interest rate contracts$4 $— $— 
Unrealized gains/(losses) included in revenues - commodities
$182 $(87)$(196)
Unrealized (losses)/gains included in cost of operations - commodities(2,988)1,315 2,880 
Unrealized (losses)/gains included in cost of operations - foreign exchange(19)16 — 
Total impact to statement of operations - commodities and foreign exchange
$(2,825)$1,244 $2,684 
Total impact to statement of operations - Consumer Financing Program
$(16)$— $—