FV Measurements (Tables)	12 Months Ended
FV Measurements (Tables)	Dec. 31, 2024
FV Measurements [Abstract]
Classification of Fair Value of Derivatives	As at December 31, 2024 millions of dollars Level 1 Level 2 Level 3 Total Assets Regulatory deferral: Commodity swaps and forwards $ 15 $ 3 $ - $ 18 FX forwards - 27 - 27 15 30 - 45 HFT derivatives: Power swaps and physical contracts 2 23 5 30 Natural gas swaps, futures, forwards, physical contracts and related transportation 13 52 27 92 15 75 32 122 Less: Derivatives classified as held for sale (1) - (1) - (1) Total assets 30 104 32 166 Liabilities Regulatory deferral: Commodity swaps and forwards $ 18 $ 19 $ - $ 37 FX forwards - 3 - 3 18 22 - 40 HFT derivatives: Power swaps and physical contracts 2 21 4 27 Natural gas swaps, futures, forwards and physical contracts (11) 89 437 515 (9) 110 441 542 Other derivatives: FX forwards - 34 - 34 Equity derivatives 2 - - 2 2 34 - 36 Less: Derivatives classified as held for sale (1) - (1) - (1) Total liabilities 11 165 441 617 Net assets (liabilities) $ 19 $ (61) $ (409) $ (451) (1) On August 5, 2024, Emera announced an agreement to sell NMGC. As at December 31, 2024, NMGC's assets and liabilities were classified as held for sale. For further details on the pending transaction, refer to note 4 As at December 31, 2023 millions of dollars Level 1 Level 2 Level 3 Total Assets Regulatory deferral: Commodity swaps and forwards $ 7 $ 6 $ - $ 13 FX forwards - 3 - 3 7 9 - 16 HFT derivatives: Power swaps and physical contracts (5) 23 - 18 Natural gas swaps, futures, forwards, physical contracts and related transportation 42 108 34 184 37 131 34 202 Other derivatives: FX forwards - 18 - 18 Equity derivatives 4 - - 4 4 18 - 22 Total assets 48 158 34 240 Liabilities Regulatory deferral: Commodity swaps and forwards 43 30 - 73 FX forwards - 3 - 3 43 33 - 76 HFT derivatives: Power swaps and physical contracts - 24 - 24 Natural gas swaps, futures, forwards and physical contracts 13 19 365 397 13 43 365 421 Other derivatives: FX forwards - 7 - 7 - 7 - 7 Total liabilities 56 83 365 504 Net assets (liabilities) $ (8) $ 75 $ (331) $ (264)
Change in Fair Value of Level 3 Financial Assets and Liabilities	The change in the FV of the Level 3 financial assets and liabilities for the year ended December 31, 2024 was as follows: HFT Derivatives millions of dollars Power Natural gas Total Assets Balance, beginning of period $ - $ 34 $ 34 Total realized and unrealized gains (losses) included in non-regulated operating revenues 5 (7) (2) Balance, December 31, 2024 $ 5 $ 27 $ 32 Liabilities Balance, beginning of period $ - $ 365 $ 365 Total realized and unrealized gains (losses) included in non-regulated operating revenues 4 72 76 Balance, December 31, 2024 $ 4 $ 437 $ 441
Quantitative Information About Significant Unobservable Inputs Used in Level 3 Measurements	Significant Weighted millions of dollars FV Unobservable Input Low High average (1) Assets Liabilities As at December 31, 2024 HFT derivatives – Power 5 4 Third-party pricing $25.60 $139.65 $82.63 swaps and physical contracts HFT derivatives – Natural 27 437 Third-party pricing $2.20 $17.54 $8.57 gas swaps, futures, forwards and physical contracts Total $ 32 $ 441 Net liability $ 409 As at December 31, 2023 HFT derivatives – Natural 34 365 Third-party pricing $1.27 $16.25 $4.85 gas swaps, futures, forwards and physical contracts Total $ 34 $ 365 Net liability $ 331 (1) Unobservable inputs were weighted by the relative FV of the instruments.
Financial Liabilities not Measured at Fair Value on Consolidated Balance Sheets	Long-term debt is a financial liability not measured at FV on the Consolidated Balance Sheets. The balance consisted of the following: As at Carrying millions of dollars Amount FV Level 1 Level 2 Level 3 Total December 31, 2024 $ 18,407 $ 17,941 $ - $ 17,688 $ 253 $ 17,941 December 31, 2023 $ 18,365 $ 16,621 $ - $ 16,363 $ 258 $ 16,621