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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Measurements [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

As at		December 31, 2016
millions of Canadian dollars		Level 1		Level 2		Level 3		Total
Assets
Cash flow hedges
Power swaps	$	10	$	-	$	-	$	10
		10		-		-		10
Regulatory deferral
Commodity swaps and forwards
Coal purchases		-		74		-		74
Power purchases		7		-		-		7
Natural gas purchases and sales		8		25		-		33
Heavy fuel oil purchases		3		5		1		9
Foreign exchange forwards		-		106		-		106
		18		210		1		229
HFT derivatives
Power swaps and physical contracts		(7)		1		-		(6)
Natural gas swaps, futures, forwards, physical contracts and related transportation		-		4		39		43
		(7)		5		39		37
Total assets		21		215		40		276
Liabilities
Cash flow hedges
Power swaps		4		-		-		4
Foreign exchange forwards		-		23		-		23
		4		23		-		27
Regulatory deferral
Commodity swaps and forwards
Power purchases		4		-		-		4
Heavy fuel oil purchases		-		6		-		6
Natural gas purchases and sales		1		1		-		2
		5		7		-		12
HFT derivatives
Power swaps and physical contracts		12		5		-		17
Natural gas swaps, futures, forwards and physical contracts		4		24		389		417
		16		29		389		434
Other derivatives
Foreign exchange forwards		-		1		-		1
Interest rate swap		-		1		-		1
		-		2		-		2
Total liabilities		25		61		389		475
Net assets (liabilities)	$	(4)	$	154	$	(349)	$	(199)

As at		December 31, 2015
millions of Canadian dollars		Level 1		Level 2		Level 3		Total
Assets
Cash flow hedges
Power swaps	$	20	$	-	$	-	$	20
		20		-		-		20
Regulatory deferral
Commodity swaps and forwards
Coal purchases		-		1		-		1
Foreign exchange forwards		-		207		-		207
Physical natural gas purchases and sales		-		-		2		2
		-		208		2		210
HFT derivatives
Power swaps and physical contracts		38		1		(8)		31
Natural gas swaps, futures, forwards and physical contracts		-		8		57		65
		38		9		49		96
Other derivatives
Foreign exchange forwards		-		92		-		92
		-		92		-		92
Total assets		58		309		51		418
Liabilities
Cash flow hedges
Power swaps	$	5	$	-	$	-	$	5
Foreign exchange forwards		-		41		-		41
		5		41		-		46
Regulatory deferral
Commodity swaps and forwards
Coal purchases		-		16		-		16
Natural gas purchases and sales		1		-		-		1
Heavy fuel oil purchases		-		37		-		37
Foreign exchange forwards		-		10		-		10
		1		63		-		64
HFT derivatives
Power swaps and physical contracts		15		-		(2)		13
Foreign exchange options		-		4		-		4
Natural gas swaps, futures, forwards and physical contracts		14		22		279		315
		29		26		277		332
Other derivatives
Interest rate swaps		-		3		-		3
		-		3		-		3
Total liabilities		35		133		277		445
Net assets (liabilities)	$	23	$	176	$	(226)	$	(27)

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The change in the fair value of the Level 3 financial assets for the year ended December 31, 2016 was as follows:
	Regulatory Deferral				Cash Flow Hedges and HFT Derivatives
millions of Canadian dollars	Oil Financial derivatives		Physical natural gas purchases and sales		Power		Naturalgas		Total
Balance, January 1, 2016	$	-	$	2	$	(8)	$	57	$	51
Increase (reduction) in benefit included in regulated fuel for generation and purchased power		-		(1)		-		-		(1)
Unrealized gains (losses) included in regulatory assets or liabilities		3		(1)		-		-		2
Total realized and unrealized gains (losses) included in non-regulated operating revenues		-		-		8		(18)		(10)
Net transfers out of Level 3		(2)		-		-		-		(2)
Balance, December 31, 2016	$	1	$	-	$	-	$	39	$	40

The change in the fair value of the Level 3 financial liabilities for the year ended December 31, 2016 was as follows:
	Regulatory Deferral				Cash Flow Hedges and HFT Derivatives
millions of Canadian dollars	Oil Financial derivatives		Physical natural gas purchases and sales		Power		Naturalgas		Total
Balance, January 1, 2016	$	-	$	-	$	(2)	$	279	$	277
Total realized and unrealized gains (losses) included in non-regulated operating revenues		-		-		2		110		112
Balance, December 31, 2016	$	-	$	-	$	-	$	389	$	389

Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

As at		December 31, 2016
millions of Canadian dollars		Fair Value	ValuationTechnique	Unobservable Input	Range	Weighted average
Assets
Regulatory deferral – Financial	$	1	Modelled pricing	Third-party pricing	$69.64	$69.64
oil derivatives				Probability of default	0.80%	0.80%
HFT derivatives –		27	Modelled pricing	Third-party pricing	$1.41 - $11.87	$3.87
Natural gas swaps,				Probability of default	0.00% - 0.07%	0.01%
futures, forwards,				Discount rate	0.00% - 0.32%	0.05%
physical contracts		12	Modelled pricing	Third-party pricing	$1.83 - $11.87	$6.16
and related transportation				Basis adjustment	(0.11)% - 0.64%	0.39%
				Probability of default	0.00% - 0.05%	0.00%
				Discount rate	0.00% - 0.10%	0.00%
Total assets	$	40
Liabilities
HFT derivatives –	$	386	Modelled pricing	Third-party pricing	$1.55 - $11.87	$6.26
Natural gas swaps, futures,				Own credit risk	0.00% - 0.07%	0.00%
forwards and physical contracts				Discount rate	0.00% - 0.14%	0.02%
		3	Modelled pricing	Third-party pricing	$1.83 - $11.87	$5.93
				Basis adjustment	(0.11)% - 0.64%	0.27%
				Own credit risk	0.00% - 0.05%	0.01%
				Discount rate	0.00% - 0.10%	0.01%
Total liabilities		389
Net assets (liabilities)	$	(349)

As at		December 31, 2015
millions of Canadian dollars		Fair Value	ValuationTechnique	Unobservable Input	Range	Weighted average
Assets
Regulatory deferral – Physical	$	2	Modelled pricing	Third-party pricing	$5.15 - $6.21	$5.72
natural gas purchases and sales				Probability of default	0.01%	0.01%
HFT derivatives –		(8)	Modelled pricing	Third-party pricing	$26.27 - $129.20	$70.45
Power swaps and				Correlation factor	0.98% - 1.00%	0.99%
physical contracts				Probability of default	0.00% - 0.02%	0.00%
				Discount rate	0.00% - 0.15%	0.01%
		54	Modelled pricing	Third-party pricing	$1.13 - $9.12	$3.26
				Probability of default	0.00% - 0.10%	0.01%
				Discount rate	0.00% - 0.33%	0.04%
		3	Modelled pricing	Third-party pricing	$1.25 - $15.74	$6.19
				Basis adjustment	(0.06)% - 0.95%	0.68%
				Probability of default	0.00% - 0.09%	0.00%
				Discount rate	0.00% - 0.08%	0.00%
Total assets	$	51
Liabilities
HFT derivatives –	$	(2)	Modelled pricing	Third-party pricing	$26.27 - $129.20	$70.82
Power swaps and				Correlation factor	0.98% - 1.00%	0.99%
physical contracts				Own credit risk	0.00% - 0.02%	0.00%
				Discount rate	0.00% - 0.15%	0.01%
HFT derivatives –		279	Modelled pricing	Third-party pricing	$0.74 - $10.59	$5.58
Natural gas swaps,				Probability of default	0.00% - 0.03%	0.00%
physical contracts				Discount rate	0.00% - 0.12%	0.01%
Total liabilities		277
Net assets (liabilities)	$	(226)

Fair Value, Estimate Not Practicable [Table Text Block]

The financial assets and liabilities included on the Consolidated Balance Sheets that are not measured at fair value consisted of the following:
As at					December 31, 2016
millions of Canadian dollars		Carrying Amount		Fair Value		Level 1		Level 2		Level 3		Total
Long-term debt (including current portion)	$	14,744	$	15,723	$	78	$	14,843	$	802	$	15,723
As at					December 31, 2015
millions of Canadian dollars		Carrying Amount		Fair Value		Level 1		Level 2		Level 3		Total
Long-term debt (including current portion)	$	4,009	$	4,487	$	-	$	3,841	$	646	$	4,487

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

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Tabular disclosure of items for which it is not practicable to estimate fair value. Such disclosure may be for an individual financial instrument or a class of financial instruments. The information to be included herein might include the carrying amount, effective interest rate, and maturity of the financial instrument or class of financial instruments (as applicable), as well as the reasons why estimating fair value is not practicable.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13504-108611

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Tabular disclosure of the fair value measurement of financial instruments classified in shareholders' equity using significant unobservable inputs (level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of level 3 (for example, transfers due to changes in the observability of significant inputs) by class of equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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