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Accounting for Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Net Notional Volume Buy/(Sell) of NRG Yield's Open Derivative Transactions Broken Out by Commodity

The following table summarizes the net notional volume buy/(sell) of the Company’s open derivative transactions broken out by commodity:

									Total Volume
									December 31, 2024						December 31, 2023
Commodity			Units						(In millions)
Power			MWh						(25)						(23)
Natural Gas			MMBtu						11						17
Interest			Dollars						$	1,769					$	2,467

Schedule of Fair Value Within the Derivative Instrument Valuation on the Balance Sheets

The following table summarizes the fair value within the derivative instrument valuation on the consolidated balance sheets:

			Fair Value
			Derivative Assets												Derivative Liabilities
			December 31, 2024						December 31, 2023						December 31, 2024						December 31, 2023
			(In millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts current			$	5					$	7					$	—					$	—
Interest rate contracts long-term			22						12						—						2
Total Derivatives Designated as Cash Flow Hedges			$	27					$	19					$	—					$	2
Derivatives Not Designated as Cash Flow Hedges:
Interest rate contracts current			$	30					$	33					$	—					$	—
Interest rate contracts long-term			109						69						—						—
Energy-related commodity contracts current			4						1						56						51
Energy-related commodity contracts long-term			5						1						315						279
Total Derivatives Not Designated as Cash Flow Hedges			$	148					$	104					$	371					$	330
Total Derivatives			$	175					$	123					$	371					$	332

Schedule of Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid

The following tables summarize the offsetting of derivatives by counterparty:

			Gross Amounts Not Offset in the Statement of Financial Position
As of December 31, 2024			Gross Amounts of Recognized Assets/Liabilities						Derivative Instruments						Net Amount
Energy-related commodity contracts			(In millions)
Derivative assets			$	9					$	—					$	9
Derivative liabilities			(371)						—						(371)
Total energy-related commodity contracts			$	(362)					$	—					$	(362)
Interest rate contracts
Derivative assets			$	166					$	—					$	166
Total interest rate contracts			$	166					$	—					$	166
Total derivative instruments			$	(196)					$	—					$	(196)

			Gross Amounts Not Offset in the Statement of Financial Position
As of December 31, 2023			Gross Amounts of Recognized Assets/Liabilities						Derivative Instruments						Net Amount
Energy-related commodity contracts			(In millions)
Derivative assets			$	2					$	—					$	2
Derivative liabilities			(330)						—						(330)
Total energy-related commodity contracts			$	(328)					$	—					$	(328)
Interest rate contracts
Derivative assets			$	121					$	(2)					$	119
Derivative liabilities			(2)						2						—
Total interest rate contracts			$	119					$	—					$	119
Total derivative instruments			$	(209)					$	—					$	(209)

Summary of Effects of NRG Yield's Accumulated OCI Balance Attributable to Interest Rate Swaps Designated as Cash Flow Hedge Derivatives, Net of Tax

The following table summarizes the effects on the Company’s accumulated OCI (OCL) balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax:

			Year ended December 31,
			2024						2023						2022
			(In millions)
Accumulated OCI (OCL) beginning balance			$	18					$	24					$	(11)
Reclassified from accumulated OCI (OCL) to income due to realization of previously deferred amounts			(1)						(4)						4
Capistrano Wind Portfolio Acquisition (a)			—						—						7
Mark-to-market of cash flow hedge accounting contracts			(3)						(2)						24
Accumulated OCI ending balance, net of income tax expense of $1, $2 and $3, respectively			14						18						24
Accumulated OCI attributable to noncontrolling interests			11						11						15
Accumulated OCI attributable to Clearway Energy, Inc.			$	3					$	7					$	9
Income expected to be realized from OCI during the next 12 months, net of income tax expense of $1			$	1

(a) Represents $4 million attributable to Clearway Energy, Inc. and $3 million attributable to noncontrolling interests.

Schedule of Derivative Gains and Losses

Mark-to-market gains/(losses) related to the Company’s derivatives are recorded in the consolidated statements of income as follows:

			Year ended December 31,
			2024						2023						2022
			(In millions)
Interest Rate Contracts (Interest expense)			$	29					$	(17)					$	100
Energy-Related Commodity Contracts (Mark-to-market for economic hedging activities included in Total operating revenues) (a)			(32)						23						(174)
Energy-Related Commodity Contracts (Mark-to-market for economic hedging activities included in Cost of operations) (b)			(2)						2						—

(a) Relates to long-term energy-related commodity contracts at Elbow Creek, Mesquite Star, Mt. Storm, Langford and Mesquite Sky and heat rate call option energy-related commodity contracts at El Segundo, Marsh Landing and Walnut Creek.

(b) Relates to long-term backbone transportation service energy-related commodity contracts at El Segundo and Walnut Creek.

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Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements.

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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