XML 56 R43.htm IDEA: XBRL DOCUMENT v3.25.0.1
Risk Management (Tables)
 12 Months Ended
Dec. 31, 2024
Price Risk Management [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
PGE’s Assets and Liabilities from price risk management activities consist of the following (in millions):
As of December 31,
20242023
Current assets:
Commodity contracts:
Electricity$18 $13 
Natural gas14 9 
Total current derivative assets(1)
32 22 
Noncurrent assets:
Commodity contracts:
Electricity1 9 
Natural gas1 2 
Total noncurrent derivative assets(1)
2 11 
Total derivative assets(2)
$34 $33 
Current liabilities:
Commodity contracts:
Electricity$32 $51 
Natural gas115 113 
Total current derivative liabilities147 164 
Noncurrent liabilities:
Commodity contracts:
Electricity24 22 
Natural gas48 53 
Total noncurrent derivative liabilities72 75 
Total derivative liabilities(2)
$219 $239 
(1)Total current derivative assets is included in Other current assets, and Total noncurrent derivative assets is included in Other noncurrent assets on the consolidated balance sheets.
(2)As of December 31, 2024 and 2023, no commodity derivative assets or liabilities were designated as hedging instruments.
Schedule of Derivative Instruments [Table Text Block]
PGE’s net volumes related to its Assets and Liabilities from price risk management activities resulting from its derivative transactions, which are expected to deliver or settle at various dates through 2035, were as follows (in millions):
As of December 31,
20242023
Commodity contracts:
Electricity2 MWh3 MWh
Natural gas199 Dth213 Dth
Foreign currency contracts$34 Canadian$20 Canadian
Derivatives Not Designated as Hedging Instruments [Table Text Block]
Net realized and unrealized losses (gains) on derivative transactions not designated as hedging instruments are classified in Purchased power and fuel in the consolidated statements of income and were as follows (in millions): 
Years Ended December 31,
202420232022
Commodity contracts:
Electricity$(17)$(130)$(187)
Natural Gas30 357 (388)
Foreign currency contracts(1)(1)1 
Net unrealized and certain net realized losses (gains) presented in the table above are offset within the consolidated statements of income by the effects of regulatory accounting. Of the net amounts recognized in Net income, net gain of $5 million, net losses of $403 million, and net gains of $188 million for the years ended December 31, 2024, 2023, and 2022, respectively, have been offset.
Schedule of Price Risk Derivatives [Table Text Block]
Assuming no changes in market prices and interest rates, the following table presents the years in which the net unrealized losses recorded as of December 31, 2024 related to PGE’s derivative activities would become realized as a result of the settlement of the underlying derivative instrument (in millions):
 20252026202720282029ThereafterTotal
Commodity contracts:
Electricity$13 $5 $3 $2 $2 $12 $37 
Natural gas101 43 4 — — — 148 
 Net unrealized loss
$114 $48 $7 $2 $2 $12 $185