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Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
16. Fair Value Measurements
Classification of the methodology used by the Company to fair value its derivatives	The following tables set out the classification of the methodology used by the Company to fair value its derivatives As at December 31, 2022 millions of dollars Level 1 Level 2 Level 3 Total Assets Regulatory deferral:  Commodity swaps and forwards $ 120 $ 48 $ - $ 168  FX forwards - 18 - 18  Physical natural gas purchases - - 52 52 120 66 52 238 HFT derivatives:  Power swaps and physical contracts 9 31 4 44  Natural gas swaps, futures, forwards, physical   contracts and related transportation 3 72 34 109 12 103 38 153 Other derivatives:  FX forwards - 5 - 5 Total assets 132 174 90 396 Liabilities Regulatory deferral:  Commodity swaps and forwards 15 9 - 24  FX forwards - 1 - 1 15 10 - 25 HFT derivatives:  Power swaps and physical contracts 2 28 1 31  Natural gas swaps, futures, forwards and physical   contracts 51 118 825 994 53 146 826 1,025 Other derivatives:  FX forwards - 23 - 23  Equity derivatives  5 - - 5 5 23 - 28 Total liabilities 73 179 826 1,078 Net assets (liabilities)  $ 59 $ (5) $ (736) $ (682) As at December 31, 2021 millions of dollars Level 1 Level 2 Level 3 Total Assets Regulatory deferral:  Commodity swaps and forwards $ 101 $ 41 $ - $ 142  FX forwards - 7 - 7  Physical natural gas purchases and sales - - 88 88 101 48 88 237 HFT derivatives:  Power swaps and physical contracts 4 5 4 13  Natural gas swaps, futures, forwards, physical   contracts and related transportation (1) 29 12 40 3 34 16 53 Other derivatives:  Equity derivatives 11 - - 11 Total assets 115 82 104 301 Liabilities Regulatory deferral:  Commodity swaps and forwards 7 5 - 12  FX forwards - 8 - 8 7 13 - 20 HFT derivatives:  Power swaps and physical contracts 4 5 3 12  Natural gas swaps, futures, forwards and physical   contracts 13 122 515 650 17 127 518 662 Total liabilities 24 140 518 682 Net assets (liabilities) $ 91 $ (58) $ (414) $ (381)
Change in the fair value of the Level 3 financial assets	The change in the fair value of the Level 3 financial assets for the year ended December 31, 2022 was as follows: Regulatory Deferral HFT Derivatives Physical natural Natural  millions of dollars gas purchases Power  gas Total Balance, January 1, 2022 $ 88 $ 4 $ 12 $ 104 Realized gains included in fuel for generation and purchased power (64) - - (64) Unrealized gains included in regulatory liabilities 28 - - 28 Total realized and unrealized gains included in non- regulated operating revenues - - 22 22 Balance, December 31, 2022 $ 52 $ 4 $ 34 $ 90
Change in the fair value of the Level 3 financial liabilities	The change in the fair value of the Level 3 financial liabilities for the year ended December 31, 2022 was as follows:  HFT Derivatives Natural millions of dollars Power  gas Total Balance, January 1, 2022 $ 3 $ 515 $ 518 Total realized and unrealized gains (losses) included in non-regulated operating revenues (2) 310 308 Balance, December 31, 2022  $ 1 $ 825 $ 826
Quantitative information about the significant unobservable inputs used in the fair value measurements categorized within Level 3 of the fair value hierarchy	December 31, 2022 As at  Significant Weighted  millions of dollars Fair Value Unobservable Input Low High average (1) Assets Liabilities Regulatory deferral – Physical $ 52 $ - Third-party pricing $5.79 $31.85 $12.27 natural gas purchases HFT derivatives – Power  4 1 Third-party pricing $43.24 $269.10 $138.79 swaps and physical contracts HFT derivatives – Natural  34 825 Third-party pricing $2.45 $33.88 $12.01 gas swaps, futures, forwards  and physical contracts  Total $ 90 $ 826 Net liability $ 736 (1) Unobservable inputs were weighted by the relative fair value of the instruments. December 31, 2021 As at Significant Weighted millions of dollars Fair Value Unobservable Input Low High average (1) Assets Liabilities Regulatory deferral – Physical $ 88 $ - Third-party pricing $4.51 $26.09 $9.74 natural gas purchases HFT derivatives – Power  4 3 Third-party pricing $37.05 $213.00 $99.34 swaps and physical contracts HFT derivatives – Natural  12 515 Third-party pricing $1.90 $21.53 $8.80 gas swaps, futures, forwards  and physical contracts  Total $ 104 $ 518 Net liability $ 414 (1) Unobservable inputs were weighted by the relative fair value of the instruments.
Financial assets and liabilities included on the Consolidated Balance Sheets that are not measured at fair value	Long-term debt is a financial liability not measured at fair value on the Consolidated Balance Sheets. The balance consisted of the following: As at Carrying millions of dollars Amount Fair Value Level 1 Level 2 Level 3 Total December 31, 2022 $ 16,318 $ 14,670 $ - $ 14,284 $ 386 $ 14,670 December 31, 2021 $ 14,658 $ 16,775 $ - $ 16,308 $ 467 $ 16,775

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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.

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