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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows:

			December 31,
			2024						2023
			(In millions)
Cash and cash equivalents			$	332					$	535
Restricted cash			401						516
Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows			$	733					$	1,051

Schedule of Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows:

			December 31,
			2024						2023
			(In millions)
Cash and cash equivalents			$	332					$	535
Restricted cash			401						516
Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows			$	733					$	1,051

Schedule of Supplemental Cash Flow Information

The following table provides a disaggregation of the amounts classified as Acquisition of Drop Down Assets, net of cash acquired, shown in the consolidated statements of cash flows:

						Year ended December 31,
						2024						2023						2022
						(In millions)
Cash paid to acquire Drop Down Assets						$	(680)					$	(173)					$	(71)
Cash acquired from the acquisition of Drop Down Assets						2						128						—
Acquisition of Drop Down Assets, net of cash acquired						$	(678)					$	(45)					$	(71)

Summary of Disaggregation of Revenue

The following tables represent the Company’s disaggregation of revenue from contracts with customers, along with the reportable segment for each category:

			Year ended December 31, 2024
(In millions)			Flexible Generation						Renewables												Total
Energy revenue (a)			$	84					$	1,089											$	1,173
Capacity revenue (a)			262						65												327
Other revenues			5						85												90
Contract amortization			(18)						(166)												(184)
Mark-to-market for economic hedges			9						(44)												(35)
Total operating revenues			342						1,029												1,371
Less: Contract amortization			18						166												184
Less: Mark-to-market for economic hedges			(9)						44												35
Less: Lease revenue			(113)						(860)												(973)
Total revenue from contracts with customers			$	238					$	379											$	617

(a) See Note 17, Leases, for the amounts of energy and capacity revenues that relate to leases and are accounted for under ASC 842.

			Year ended December 31, 2023
(In millions)			Flexible Generation						Renewables																		Total
Energy revenue (a)			$	81					$	942																	$	1,023
Capacity revenue (a)			336						23																		359
Other revenues (a)			28						71																		99
Contract amortization			(20)						(166)																		(186)
Mark-to-market for economic hedges			(5)						24																		19
Total operating revenues			420						894																		1,314
Less: Contract amortization			20						166																		186
Less: Mark-to-market for economic hedges			5						(24)																		(19)
Less: Lease revenue			(274)						(780)																		(1,054)
Total revenue from contracts with customers			$	171					$	256																	$	427

(a) See Note 17, Leases, for the amounts of energy, capacity and other revenues that relate to leases and are accounted for under ASC 842.

			Year ended December 31, 2022
(In millions)			Flexible Generation						Renewables						Thermal												Total
Energy revenue (a)			$	6					$	956					$	48											$	1,010
Capacity revenue (a)			435						2						18												455
Other revenues			—						71						11												82
Contract amortization			(24)						(151)						—												(175)
Mark-to-market for economic hedges			—						(182)						—												(182)
Total operating revenues			417						696						77												1,190
Less: Contract amortization			24						151						—												175
Less: Mark-to-market for economic hedges			—						182						—												182
Less: Lease revenue			(441)						(809)						(1)												(1,251)
Total revenue from contracts with customers			$	—					$	220					$	76											$	296

(a) See Note 17, Leases, for the amounts of energy and capacity revenues that relate to leases and are accounted for under ASC 842.

Schedule of Contract balances

The following table reflects the contract assets included on the Company’s consolidated balance sheets:

(In millions)						December 31, 2024						December 31, 2023
Accounts receivable, net - Contracts with customers						$	75					$	66
Accounts receivable, net - Leases						89						105
Total accounts receivable, net						$	164					$	171

Schedule of Changes in Asset Retirement Obligation

The following table represents the balance of AROs, along with the related activity:

(In millions)
Balance as of December 31, 2022			$	157
Revisions in estimated cash flows			3
Liabilities incurred			67
Accretion expense			12
Balance as of December 31, 2023			239
Revisions in estimated cash flows			(1)
Liabilities incurred			14
Liabilities settled			(2)
Accretion expense			16
Balance as of December 31, 2024			$	266

Schedule of Redeemable Noncontrolling Interest

The following table reflects the changes in the Company’s redeemable noncontrolling interest balance:

						(In millions)
Balance at December 31, 2022						$	7
Cash distributions to redeemable noncontrolling interests						(3)
Comprehensive income attributable to redeemable noncontrolling interests						17
Repurchase of redeemable noncontrolling interest						(20)
Balance at December 31, 2023						1
Cash distributions to redeemable noncontrolling interests						(2)
Comprehensive income attributable to redeemable noncontrolling interests						13
Repurchase of redeemable noncontrolling interest						(12)
Balance at December 31, 2024						$	—

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