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Financial instruments (Tables) | 6 Months Ended
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Jun. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Financial Instruments | Fair value of financial instruments
June 30, 2023 | Carrying amount |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Long-term investments carried at fair value | $ | 1,213,718 |  |  | $ | 1,213,718 |  |  | $ | 1,149,505 |  |  | $ | — |  |  | $ | 64,213 |
Development loans and other receivables | 98,313 |  |  | 91,547 |  |  | — |  |  | 91,547 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Commodity contracts for regulatory operations | 139 |  |  | 139 |  |  | — |  |  | 139 |  |  | — |
Interest rate swaps designated as a hedge | 65,711 |  |  | 65,711 |  |  | — |  |  | 65,711 |  |  | — |
Interest rate cap not designated as hedge | 3,490 |  |  | 3,490 |  |  | — |  |  | 3,490 |  |  | — |
Congestion revenue rights not designated as hedge | 7,757 |  |  | 7,757 |  |  | — |  |  | — |  |  | 7,757 |
Cross-currency swap designated as a net investment hedge | 464 |  |  | 464 |  |  | — |  |  | 464 |  |  | — |
Total derivative instruments | 77,561 |  |  | 77,561 |  |  | — |  |  | 69,804 |  |  | 7,757 |
Total financial assets | $ | 1,389,592 |  |  | $ | 1,382,826 |  |  | $ | 1,149,505 |  |  | $ | 161,351 |  |  | $ | 71,970 |
Long-term debt | $ | 8,083,147 |  |  | $ | 7,528,421 |  |  | $ | 2,716,700 |  |  | $ | 4,811,721 |  |  | $ | — |
Notes payable to related party | 25,808 |  |  | 15,188 |  |  | — |  |  | 15,188 |  |  | — |
Convertible debentures | 238 |  |  | 285 |  |  | 285 |  |  | — |  |  | — |
Preferred shares, Series C | 12,067 |  |  | 11,943 |  |  | — |  |  | 11,943 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 64,370 |  |  | 64,370 |  |  | — |  |  | — |  |  | 64,370 |
Energy contracts not designated as hedge | 11,515 |  |  | 11,515 |  |  | — |  |  | — |  |  | 11,515 |
Cross-currency swap designated as a net investment hedge | 15,550 |  |  | 15,550 |  |  | — |  |  | 15,550 |  |  | — |
Cross-currency swap designated as a cash flow hedge | 9,736 |  |  | 9,736 |  |  | — |  |  | 9,736 |  |  | — |
Commodity contracts for regulated operations | 1,441 |  |  | 1,441 |  |  | — |  |  | 1,441 |  |  | — |
Total derivative instruments | 102,612 |  |  | 102,612 |  |  | — |  |  | 26,727 |  |  | 75,885 |
Total financial liabilities | $ | 8,223,872 |  |  | $ | 7,658,449 |  |  | $ | 2,716,985 |  |  | $ | 4,865,579 |  |  | $ | 75,885 |
21. Financial instruments (continued) (a)Fair value of financial instruments (continued)
December 31, 2022 | Carrying amount |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Long-term investments carried at fair value | $ | 1,344,207 |  |  | $ | 1,344,221 |  |  | $ | 1,270,138 |  |  | $ | — |  |  | $ | 74,083 |
Development loans and other receivables | 53,680 |  |  | 50,300 |  |  | — |  |  | 50,300 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts not designated as hedge | 393 |  |  | 393 |  |  | — |  |  | — |  |  | 393 |
Interest rate swap designated as a hedge | 69,188 |  |  | 69,188 |  |  | — |  |  | 69,188 |  |  | — |
Currency forward contract not designated as a hedge | 2,659 |  |  | 2,659 |  |  | — |  |  | 2,659 |  |  | — |
Congestion revenue rights not designated as hedge | 10,110 |  |  | 10,110 |  |  | — |  |  | — |  |  | 10,110 |
Cross-currency swap designated as a net investment hedge | 1,267 |  |  | 1,267 |  |  | — |  |  | 1,267 |  |  | — |
Commodity contracts for regulated operations | 283 |  |  | 283 |  |  | — |  |  | 283 |  |  | — |
Total derivative instruments | 83,900 |  |  | 83,900 |  |  | — |  |  | 73,397 |  |  | 10,503 |
Total financial assets | $ | 1,481,787 |  |  | $ | 1,478,421 |  |  | $ | 1,270,138 |  |  | $ | 123,697 |  |  | $ | 84,586 |
Long-term debt | $ | 7,512,017 |  |  | $ | 6,699,031 |  |  | $ | 2,623,628 |  |  | $ | 4,075,403 |  |  | — |
Notes payable to related party | 25,808 |  |  | 15,180 |  |  | — |  |  | 15,180 |  |  | — |
Convertible debentures | 245 |  |  | 276 |  |  | 276 |  |  | — |  |  | — |
Preferred shares, Series C | 12,072 |  |  | 11,675 |  |  | — |  |  | 11,675 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 120,284 |  |  | 120,284 |  |  | — |  |  | — |  |  | 120,284 |
Energy contracts not designated as hedge | 8,617 |  |  | 8,617 |  |  | — |  |  | — |  |  | 8,617 |
Cross-currency swap designated as a net investment hedge | 24,371 |  |  | 24,371 |  |  | — |  |  | 24,371 |  |  | — |
Cross-currency swap designated as a cash flow hedge | 15,435 |  |  | 15,435 |  |  | — |  |  | 15,435 |  |  | — |
Commodity contracts for regulated operations | 1,614 |  |  | 1,614 |  |  | — |  |  | 1,614 |  |  | — |
Total derivative instruments | 170,321 |  |  | 170,321 |  |  | — |  |  | 41,420 |  |  | 128,901 |
Total financial liabilities | $ | 7,720,463 |  |  | $ | 6,896,483 |  |  | $ | 2,623,904 |  |  | $ | 4,143,678 |  |  | $ | 128,901 |
Schedule of Long-Term Energy Derivative Contracts | The Company has sought to reduce the price risk on the expected future sale of power generation at the Sandy Ridge, Senate, Minonk, and Sugar Creek Wind Facilities by entering into the following long-term energy derivative contracts.
Notional quantity (MW-hrs) |  | Expiry |  | Receive average prices (per MW-hr) |  | Pay floating price (per MW-hr)
3,772,462 |  |  | September 2030 |  | $25.00 |  | Illinois Hub
404,612 |  |  | December 2028 |  | $29.00 |  | PJM Western HUB
1,707,551 |  |  | December 2027 |  | $22.00 |  | NI HUB
1,471,065 |  |  | December 2027 |  | $36.00 |  | ERCOT North HUB
Schedule of Derivative Financial Instruments Designated as Cash Flow Hedge, Effect on Consolidated Statement of Operations | The following table summarizes OCI attributable to derivative financial instruments designated as a cash flow hedge:
| Three months ended June 30 |  | Six months ended June 30
| 2023 |  | 2022 |  | 2023 |  | 2022
Effective portion of cash flow hedge | $ | 29,949 |  |  | $ | (20,298) |  |  | $ | 52,435 |  |  | $ | (81,852) |
Amortization of cash flow hedge | (1,421) |  |  | (3,828) |  |  | (4,908) |  |  | (3,992) |
Amounts reclassified from AOCI | 7,893 |  |  | 11,247 |  |  | 6,759 |  |  | 14,079 |
OCI attributable to shareholders of AQN | $ | 36,421 |  |  | $ | (12,879) |  |  | $ | 54,286 |  |  | $ | (71,765) |
Schedule of Effects on Statement of Operations of Derivative Financial Instruments Not Designated as Hedges | The effects on the unaudited interim consolidated statements of operations of derivative financial instruments not designated as hedges consist of the following:
| Three months ended June 30 |  | Six months ended June 30 |
| 2023 |  | 2022 |  | 2023 |  | 2022 |
Unrealized gain (loss) on derivative financial instruments: |  |  |  |  |  |  |  |
Interest rate swaps | $ | — |  |  | $ | (4,680) |  |  | $ | — |  |  | $ | (4,680) |  |
Energy derivative contracts | 84 |  |  | (2,352) |  |  | 62 |  |  | (3,103) |  |
Commodity contracts | — |  |  | — |  |  | 1,128 |  |  | — |  |
| $ | 84 |  |  | $ | (7,032) |  |  | $ | 1,190 |  |  | $ | (7,783) |  |
Realized gain (loss) on derivative financial instruments: |  |  |  |  |  |  |  |
Energy derivative contracts | (1,537) |  |  | (157) |  |  | (3,830) |  |  | 149 |  |
| $ | (1,537) |  |  | $ | (157) |  |  | $ | (3,830) |  |  | $ | 149 |  |
Loss on derivative financial instruments not accounted for as hedges | (1,453) |  |  | (7,189) |  |  | (2,640) |  |  | (7,634) |  |
Amortization of AOCI gains frozen as a result of hedge dedesignation | 997 |  |  | 1,054 |  |  | 1,994 |  |  | 1,750 |  |
| $ | (456) |  |  | $ | (6,135) |  |  | $ | (646) |  |  | $ | (5,884) |  |
Unaudited interim consolidated statements of operations classification: |  |  |  |  |  |  |  |
Gain (loss) on derivative financial instruments | $ | 1,039 |  |  | $ | (3,313) |  |  | $ | 3,205 |  |  | $ | (2,569) |  |
Non-regulated energy sales | (1,495) |  |  | (2,822) |  |  | (3,851) |  |  | (3,315) |  |
| $ | (456) |  |  | $ | (6,135) |  |  | $ | (646) |  |  | $ | (5,884) |  |
21.Financial instruments (continued) (c)Supplier financing programs In the normal course of business, the Company enters into supplier financing programs under which the suppliers can voluntarily elect to sell their receivables. The Company agrees to pay, on the invoice maturity date, the stated amount of the invoices that the Company has confirmed through the execution of bills of exchange. The terms of the trade payable arrangement are consistent with customary industry practice and are not impacted by the supplier’s decision to sell amounts under these arrangements. As of June 30, 2023, accounts payable include confirmed invoices from designated suppliers of $63,328 (December 31, 2022 - $16,785).

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