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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Measurements [Abstract]

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

As at		December 31, 2018
millions of Canadian dollars		Level 1		Level 2		Level 3		Total
Assets
Regulatory deferral
Commodity swaps and forwards
Coal purchases		-		70		-		70
Power purchases		2		-		-		2
Natural gas purchases and sales		-		2		-		2
Heavy fuel oil purchases		-		1		-		1
Foreign exchange forwards		-		29		-		29
		2		102		-		104
HFT derivatives
Power swaps and physical contracts		2		2		3		7
Natural gas swaps, futures, forwards, physical contracts and related transportation		1		36		18		55
		3		38		21		62
Other derivatives
Interest rate swap		-		1		-		1
		-		1		-		1
Total assets		5		141		21		167
Liabilities
Cash flow hedges
Foreign exchange forwards		-		5		-		5
		-		5		-		5
Regulatory deferral
Commodity swaps and forwards
Coal purchases		-		1		-		1
Power purchases		1		-		-		1
Heavy fuel oil purchases		-		1		-		1
Natural gas purchases and sales		3		-		-		3
		4		2		-		6
HFT derivatives
Power swaps and physical contracts		14		6		1		21
Natural gas swaps, futures, forwards and physical contracts		-		28		305		333
		14		34		306		354
Total liabilities		18		41		306		365
Net assets (liabilities)	$	(13)	$	100	$	(285)	$	(198)

As at		December 31, 2017
millions of Canadian dollars		Level 1		Level 2		Level 3		Total
Assets
Cash flow hedges
Power swaps	$	5	$	-	$	-	$	5
Foreign exchange forwards		-		2		-		2
		5		2		-		7
Regulatory deferral
Commodity swaps and forwards
Coal purchases		-		127		-		127
Power purchases		5		-		-		5
Natural gas purchases and sales		-		5		-		5
Heavy fuel oil purchases		4		8		-		12
Foreign exchange forwards		-		32		-		32
		9		172		-		181
HFT derivatives
Power swaps and physical contracts		-		3		9		12
Natural gas swaps, futures, forwards, physical contracts and related transportation		-		26		25		51
		-		29		34		63
Other derivatives
Interest rate swap		-		2		-		2
		-		2		-		2
Total assets		14		205		34		253
Liabilities
Cash flow hedges
Power swaps		2		-		-		2
Foreign exchange forwards		-		5		-		5
		2		5		-		7
Regulatory deferral
Power purchases		3		-		-		3
Natural gas purchased and sales		5		1		-		6
Foreign exchange forwards		-		4		-		4
		8		5		-		13
HFT derivatives
Power swaps and physical contracts		49		5		(4)		50
Natural gas swaps, futures, forwards and physical contracts		6		47		187		240
		55		52		183		290
Total liabilities		65		62		183		310
Net assets (liabilities)	$	(51)	$	143	$	(149)	$	(57)

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, 2018 was as follows:
	HFT Derivatives
millions of Canadian dollars	Power		Naturalgas		Total
Balance, January 1, 2018	$	9	$	25	$	34
Total realized and unrealized gains (losses) included in non-regulated operating revenues		(6)		(7)		(13)
Balance, December 31, 2018	$	3	$	18	$	21

The change in the fair value of the Level 3 financial liabilities for the year ended December 31, 2018 was as follows:
	HFT Derivatives
millions of Canadian dollars	Power		Naturalgas		Total
Balance, January 1, 2018	$	(4)	$	187	$	183
Total realized and unrealized gains (losses) included in non-regulated operating revenues		5		118		123
Balance, December 31, 2018	$	1	$	305	$	306

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

As at		December 31, 2018
millions of Canadian dollars		Fair Value	ValuationTechnique	Unobservable Input	Range	Weighted average
Assets
HFT derivatives –	$	3	Modelled pricing	Third-party pricing	$24.31 - $50.29	$31.43
Power swaps and				Probability of default	0.03% - 0.13%	0.13%
physical contracts				Discount rate	0.03% - 2.19%	1.45%
				Correlation factor	84.98% - 84.98%	84.98%
HFT derivatives –		8	Modelled pricing	Third-party pricing	$1.80 - $12.21	$4.75
Natural gas swaps, futures,				Probability of default	0.01% - 2.94%	0.24%
forwards, physical contracts				Discount rate	0.01% - 30.62%	4.25%
and related transportation		10	Modelled pricing	Third-party pricing	$1.95 - $12.90	$8.68
				Basis adjustment	$0.07 - $3.43	$1.88
				Probability of default	0.01% - 3.20%	0.57%
				Discount rate	0.01% - 7.61%	0.42%
Total assets	$	21
Liabilities
HFT derivatives –	$	1	Modelled pricing	Third-party pricing	$20.80 - $50.29	$26.38
Power swaps and				Probability of default	0.08% - 0.29%	0.15%
physical contracts				Discount rate	0.03% - 2.99%	1.65%
				Correlation factor	84.98% - 84.98%	84.98%
HFT derivatives –		286	Modelled pricing	Third-party pricing	$1.48 - $12.90	$5.75
Natural gas swaps, futures,				Own credit risk	0.01% - 2.94%	0.09%
forwards and physical contracts				Discount rate	0.01% - 11.96%	2.35%
		19	Modelled pricing	Third-party pricing	$2.15 - $13.18	$7.54
				Basis adjustment	$0.07 - $3.43	$2.67
				Own credit risk	0.01% - 2.76%	0.10%
				Discount rate	0.01% - 7.61%	1.38%
Total liabilities	$	306
Net assets (liabilities)	$	(285)

As at		December 31, 2017
millions of Canadian dollars		Fair Value	ValuationTechnique	Unobservable Input	Range	Weighted average
Assets
HFT derivatives –	$	1	Modelled pricing	Third-party pricing	$24.88 - $117.90	$92.93
Power swaps and				Probability of default	0.00% - 0.01%	0.00%
physical contracts				Discount rate	0.00% - 0.13%	0.00%
		8	Modelled pricing	Third-party pricing	$63.48 - $117.00	$102.68
				Correlation factor	0.94% - 0.99%	0.96%
				Probability of default	0.00% - 0.00%	0.00%
				Discount rate	0.00% - 0.00%	0.00%
HFT derivatives –		18	Modelled pricing	Third-party pricing	$2.06 - $8.24	$3.61
Natural gas swaps,				Probability of default	0.00% - 0.05%	0.00%
futures, forwards,				Discount rate	0.00% - 0.29%	0.06%
physical contracts		7	Modelled pricing	Third-party pricing	$2.04 - $12.52	$6.42
and related transportation				Basis adjustment	0.08% - 0.71%	0.52%
				Probability of default	0.00% - 0.00%	0.00%
				Discount rate	0.00% - 0.09%	0.01%
Total assets	$	34
Liabilities
HFT derivatives –	$	(6)	Modelled pricing	Third-party pricing	$24.88 - $117.90	$95.46
Power swaps and				Own credit risk	0.00% - 0.01%	0.00%
physical contracts				Discount rate	0.00% - 0.13%	0.00%
		2	Modelled pricing	Third-party pricing	$94.5 - $117.00	$105.52
				Correlation factor	0.94% - 0.99%	0.96%
				Probability of default	0.00% - 0.00%	0.00%
				Discount rate	0.00% - 0.00%	0.00%
HFT derivatives –		172	Modelled pricing	Third-party pricing	$1.89 - $11.81	$4.64
Natural gas swaps, futures,				Own credit risk	0.00% - 0.00%	0.00%
forwards and physical contracts				Discount rate	0.00% - 0.12%	0.02%
		15	Modelled pricing	Third-party pricing	$2.15 - $12.52	$8.94
				Basis adjustment	0.08% - 0.71%	0.53%
				Own credit risk	0.00% - 0.00%	0.00%
				Discount rate	0.00% - 0.08%	0.01%
Total liabilities	$	183
Net assets (liabilities)	$	(149)

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
millions of Canadian dollars		Carrying Amount		Fair Value		Level 1		Level 2		Level 3		Total
December 31, 2018	$	15,411	$	15,908	$	-	$	14,991	$	917	$	15,908
December 31, 2017	$	13,881	$	15,217	$	69	$	14,346	$	802	$	15,217

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=77997519&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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