XML 68 R56.htm IDEA: XBRL DOCUMENT v3.25.1
Fair Value of Financial Instruments - Derivative Fair Value Measurements (Details)
$ in Millions
Mar. 31, 2025
USD ($)
certificate
$ / MMBTU
$ / MWd
$ / MWh
Dec. 31, 2024
USD ($)
$ / MWd
$ / MWh
certificate
Liabilities    
Derivative liabilities   $ 3,177
Commodity contracts    
Assets    
Derivative assets $ 5,153 4,365
Liabilities    
Derivative liabilities 3,671 3,197
Interest rate contracts    
Assets    
Derivative assets   9
Liabilities    
Derivative liabilities 3 3
Level 3    
Assets    
Derivative assets 234 195
Liabilities    
Derivative liabilities 392 359
Level 3 | Renewable Energy Certificates | Fair Value, Recurring    
Assets    
Derivative assets 22 30
Liabilities    
Derivative liabilities $ 16 $ 14
Level 3 | Renewable Energy Certificates | 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 2
Level 3 | Renewable Energy Certificates | 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 375 375
Level 3 | Renewable Energy Certificates | 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 15 15
Level 3 | Commodity contracts | Natural Gas Contracts    
Assets    
Derivative assets $ 37 $ 56
Liabilities    
Derivative liabilities $ 21 $ 15
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 2
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 18 27
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 4
Level 3 | Commodity contracts | Power Contracts    
Assets    
Derivative assets $ 125 $ 57
Liabilities    
Derivative liabilities $ 122 $ 86
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 2 0
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 150 109
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 40 39
Level 3 | Commodity contracts | FTRs    
Assets    
Derivative assets $ 18 $ 18
Liabilities    
Derivative liabilities $ 19 $ 28
Level 3 | Commodity contracts | FTRs | Low | Valuation Technique, Discounted Cash Flow | Auction Prices ($ per MWh)    
Fair Value Inputs / Range    
Derivative asset/liability, measurement input (69) (50)
Level 3 | Commodity contracts | FTRs | High | Valuation Technique, Discounted Cash Flow | Auction Prices ($ per MWh)    
Fair Value Inputs / Range    
Derivative asset/liability, measurement input 16,180 16,180
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
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 0.0613 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 0.0281 0.0283
Level 3 | Interest rate contracts | Weighted Average | Valuation Technique, Discounted Cash Flow | Credit Loss Rates    
Fair Value Inputs / Range    
Derivative liability, measurement input 0.1433 0.1422
Level 3 | Interest rate contracts | Consumer financing program    
Assets    
Derivative assets $ 0 $ 0
Liabilities    
Derivative liabilities $ 207 $ 203
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 0.0024 0.0052
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 0.9760 0.7680
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 0.1206 0.1171
Level 3 | Capacity Contracts | Capacity Contracts | Fair Value, Recurring    
Assets    
Derivative assets $ 32 $ 34
Liabilities    
Derivative liabilities $ 7 $ 13
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 16 16
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 510 510
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 199 220