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Fair Value of Financial Instruments - Derivative Fair Value Measurements (Details) $ in Millions | Sep. 30, 2024 USD ($) certificate $ / MMBTU $ / MWd $ / MWh | Dec. 31, 2023 USD ($) certificate $ / MWh $ / MWd
--- | --- | ---
Liabilities |  |
Derivative liabilities | $ 3,820 | $ 5,507
Commodity contracts |  |
Assets |  |
Derivative assets | 4,196 | 6,138
Liabilities |  |
Derivative liabilities | 3,588 | 5,356
Interest rate contracts |  |
Assets |  |
Derivative assets | 2 | 12
Liabilities |  |
Derivative liabilities | 30 | 8
Level 3 |  |
Assets |  |
Derivative assets | 186 | 334
Liabilities |  |
Derivative liabilities | 412 | 349
Level 3 | RECs | Fair Value, Recurring |  |
Assets |  |
Derivative assets | 31 | 58
Liabilities |  |
Derivative liabilities | $ 9 | $ 14
Level 3 | RECs | Low | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) | Fair Value, Recurring |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | certificate | 2,000,000 | 2
Level 3 | RECs | High | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) | Fair Value, Recurring |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | certificate | 245,000,000 | 320
Level 3 | RECs | Weighted Average | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) | Fair Value, Recurring |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | certificate | 16,000,000 | 15
Level 3 | Commodity contracts |  |
Assets |  |
Derivative assets | $ 186 | $ 334
Liabilities |  |
Derivative liabilities | 212 | 215
Level 3 | Commodity contracts | Natural Gas Contracts |  |
Assets |  |
Derivative assets | 38 | 39
Liabilities |  |
Derivative liabilities | $ 27 | $ 65
Level 3 | Commodity contracts | Natural Gas Contracts | Low | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | 1,000,000 | 1
Level 3 | Commodity contracts | Natural Gas Contracts | High | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | 13,000,000 | 15
Level 3 | Commodity contracts | Natural Gas Contracts | Weighted Average | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | 4,000,000 | 3
Level 3 | Commodity contracts | Power Contracts |  |
Assets |  |
Derivative assets | $ 75 | $ 197
Liabilities |  |
Derivative liabilities | $ 138 | $ 66
Level 3 | Commodity contracts | Power Contracts | Low | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | $ / MWh | 0 | 1
Level 3 | Commodity contracts | Power Contracts | High | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | $ / MWh | 131,000,000 | 210
Level 3 | Commodity contracts | Power Contracts | Weighted Average | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | $ / MWh | 41,000,000 | 47
Level 3 | Commodity contracts | FTRs |  |
Assets |  |
Derivative assets | $ 15 | $ 19
Liabilities |  |
Derivative liabilities | $ 26 | $ 37
Level 3 | Commodity contracts | FTRs | Low | Valuation Technique, Discounted Cash Flow | Auction Prices ($ per MWh) |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | (38,000,000) | (58)
Level 3 | Commodity contracts | FTRs | High | Valuation Technique, Discounted Cash Flow | Auction Prices ($ per MWh) |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | 8,434,000,000 | 252
Level 3 | Commodity contracts | FTRs | Weighted Average | Valuation Technique, Discounted Cash Flow | Auction Prices ($ per MWh) |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | 0 | 0
Level 3 | Interest rate contracts |  |
Assets |  |
Derivative assets | $ 0 | $ 0
Liabilities |  |
Derivative liabilities | $ 0 | $ 0
Level 3 | Interest rate contracts | Low | Valuation Technique, Discounted Cash Flow | Collateral Prepayment Rates |  |
Fair Value Inputs / Range |  |
Derivative liability, measurement input | 0.0200 | 0.0200
Level 3 | Interest rate contracts | Low | Valuation Technique, Discounted Cash Flow | Credit Loss Rates |  |
Fair Value Inputs / Range |  |
Derivative liability, measurement input | 0.0470 | 0.0600
Level 3 | Interest rate contracts | High | Valuation Technique, Discounted Cash Flow | Collateral Prepayment Rates |  |
Fair Value Inputs / Range |  |
Derivative liability, measurement input | 0.0300 | 0.0300
Level 3 | Interest rate contracts | High | Valuation Technique, Discounted Cash Flow | Credit Loss Rates |  |
Fair Value Inputs / Range |  |
Derivative liability, measurement input | 0.6000 | 0.6000
Level 3 | Interest rate contracts | Weighted Average | Valuation Technique, Discounted Cash Flow | Collateral Prepayment Rates |  |
Fair Value Inputs / Range |  |
Derivative liability, measurement input | 0.0286 | 0.0295
Level 3 | Interest rate contracts | Weighted Average | Valuation Technique, Discounted Cash Flow | Credit Loss Rates |  |
Fair Value Inputs / Range |  |
Derivative liability, measurement input | 0.1388 | 0.1257
Level 3 | Interest rate contracts | Consumer financing program |  |
Assets |  |
Derivative assets | $ 0 | $ 0
Liabilities |  |
Derivative liabilities | $ 200 | $ 134
Level 3 | Interest rate contracts | Consumer financing program | Low | Valuation Technique, Discounted Cash Flow | Collateral Default Rates |  |
Fair Value Inputs / Range |  |
Derivative liability, measurement input | 0.0025 | 0.0043
Level 3 | Interest rate contracts | Consumer financing program | High | Valuation Technique, Discounted Cash Flow | Collateral Default Rates |  |
Fair Value Inputs / Range |  |
Derivative liability, measurement input | 1.0000 | 0.9330
Level 3 | Interest rate contracts | Consumer financing program | Weighted Average | Valuation Technique, Discounted Cash Flow | Collateral Default Rates |  |
Fair Value Inputs / Range |  |
Derivative liability, measurement input | 0.1090 | 0.0812
Level 3 | Capacity Contracts | Capacity Contracts | Fair Value, Recurring |  |
Assets |  |
Derivative assets | $ 27 | $ 21
Liabilities |  |
Derivative liabilities | $ 12 | $ 33
Level 3 | Capacity Contracts | Capacity Contracts | Low | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) | Fair Value, Recurring |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | $ / MWd | 20,000,000 | 49
Level 3 | Capacity Contracts | Capacity Contracts | High | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) | Fair Value, Recurring |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | $ / MWd | 649,000,000 | 658
Level 3 | Capacity Contracts | Capacity Contracts | Weighted Average | Valuation Technique, Discounted Cash Flow | Forward Market Price (perMMBtu) or (per MWh) | Fair Value, Recurring |  |
Fair Value Inputs / Range |  |
Derivative asset/liability, measurement input | $ / MWd | 207,000,000 | 285

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