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Material Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of changes in accounting policies, accounting estimates and errors [Abstract] |
Disclosure of detailed information about property, plant and equipment | Estimated remaining useful lives of the components of depreciable assets, categorized by asset class, are as follows:
Hydro generation | 1-48 years
Wind and Solar generation | 1-30 years
Gas generation | 1-33 years
Energy Transition | 1-9 years
Capital spares and other | 1-48 years
Year ended Dec. 31 |  |  | 2024 |  | 2023 | 2022
Segments: |  |  |  |  |  |
Hydro |  |  | — |  |  | (10) |  | 21 |
Wind and Solar |  |  | — |  |  | (4) |  | 43 |
Corporate |  |  | — |  |  | — |  | (2) |
Changes in decommissioning and restoration provisions on retired assets(1) |  |  | 24 |  |  | (34) |  | (53) |
Project development costs |  |  | 22 |  |  | — |  | — |
Asset impairment charges (reversals) |  |  | 46 |  |  | (48) |  | 9 |
(1)Changes relate to changes in discount rates and revisions in estimated decommissioning costs on retired assets in 2024, 2023 and 2022. Refer to Note 24 for further details. A reconciliation of the changes in the carrying amount of PP&E is as follows:
| Assets under construction | Land | Hydro | Wind and Solar | Gas generation | Energy Transition | Capital spares and other(1) | Total |
Cost |  |  |  |  |  |  |  |  |
As at Dec. 31, 2022 | 963 |  | 93 |  | 840 |  | 3,233 |  | 4,530 |  | 3,974 |  | 379 |  | 14,012 |  |
Additions(2) | 869 |  | — |  | — |  | — |  | — |  | — |  | 6 |  | 875 |  |
Disposals | — |  | (3) |  | — |  | — |  | — |  | (30) |  | — |  | (33) |  |
Impairment reversals (Note 7) | — |  | — |  | 10 |  | 4 |  | — |  | — |  | — |  | 14 |  |
Changes to decommissioning and restoration costs | — |  | — |  | 3 |  | 14 |  | (22) |  | 3 |  | (1) |  | (3) |  |
Retirement of assets | — |  | — |  | (7) |  | (18) |  | (124) |  | (7) |  | (108) |  | (264) |  |
Change in foreign exchange rates | (26) |  | — |  | — |  | (18) |  | (7) |  | (42) |  | (1) |  | (94) |  |
Transfers of assets(3) | (572) |  | — |  | 38 |  | 439 |  | 50 |  | 16 |  | 31 |  | 2 |  |
Transfers to finance lease receivable | — |  | — |  | — |  | (61) |  | (4) |  | — |  | — |  | (65) |  |
As at Dec. 31, 2023 | 1,234 |  | 90 |  | 884 |  | 3,593 |  | 4,423 |  | 3,914 |  | 306 |  | 14,444 |  |
Additions(2) | 279 |  | — |  | — |  | — |  | 10 |  | — |  | 22 |  | 311 |  |
Acquisitions (Note 4) | 11 |  | — |  | — |  | — |  | 401 |  | — |  | — |  | 412 |  |
Disposals | — |  | (2) |  | — |  | — |  | (1) |  | (3) |  | — |  | (6) |  |
Changes to decommissioning and restoration costs (Note 24) | — |  | — |  | 16 |  | 9 |  | 13 |  | — |  | — |  | 38 |  |
Retirement of assets | — |  | — |  | (10) |  | (12) |  | (16) |  | — |  | — |  | (38) |  |
Change in foreign exchange rates | 28 |  | 2 |  | — |  | 124 |  | — |  | 146 |  | 2 |  | 302 |  |
Transfer to intangible assets (Note 21) | — |  | — |  | — |  | — |  | (163) |  | — |  | — |  | (163) |  |
Transfers of assets(3) | (1,432) |  | — |  | 43 |  | 1,205 |  | 163 |  | 14 |  | 7 |  | — |  |
Transfers to finance lease receivable (Note 17) | — |  | — |  | — |  | — |  | (48) |  | — |  | — |  | (48) |  |
As at Dec. 31, 2024 | 120 |  | 90 |  | 933 |  | 4,919 |  | 4,782 |  | 4,071 |  | 337 |  | 15,252 |  |
Accumulated depreciation |  |  |  |  |  |  |  |  |
As at Dec. 31, 2022 | — |  | — |  | 478 |  | 1,228 |  | 2,812 |  | 3,744 |  | 194 |  | 8,456 |  |
Depreciation | — |  | — |  | 25 |  | 129 |  | 342 |  | 73 |  | 16 |  | 585 |  |
Retirement of assets | — |  | — |  | (4) |  | (15) |  | (101) |  | (7) |  | (108) |  | (235) |  |
Disposals | — |  | — |  | — |  | — |  | — |  | (30) |  | — |  | (30) |  |
Change in foreign exchange rates | — |  | — |  | — |  | (5) |  | (3) |  | (39) |  | — |  | (47) |  |
Transfers of assets(3) | — |  | — |  | — |  | — |  | (1) |  | 2 |  | — |  | 1 |  |
As at Dec. 31, 2023 | — |  | — |  | 499 |  | 1,337 |  | 3,049 |  | 3,743 |  | 102 |  | 8,730 |  |
Depreciation | — |  | — |  | 37 |  | 170 |  | 221 |  | 62 |  | 28 |  | 518 |  |
Retirement of assets | — |  | — |  | (9) |  | (9) |  | (15) |  | — |  | — |  | (33) |  |
Disposals | — |  | — |  | — |  | — |  | — |  | (2) |  | — |  | (2) |  |
Change in foreign exchange rates | — |  | — |  | — |  | 23 |  | 1 |  | 138 |  | — |  | 162 |  |
Transfer to intangible assets (Note 21) | — |  | — |  | — |  | — |  | (143) |  | — |  | — |  | (143) |  |
As at Dec. 31, 2024 | — |  | — |  | 527 |  | 1,521 |  | 3,113 |  | 3,941 |  | 130 |  | 9,232 |  |
Carrying amount |  |  |  |  |  |  |  |  |
As at Dec. 31, 2022 | 963 |  | 93 |  | 362 |  | 2,005 |  | 1,718 |  | 230 |  | 185 |  | 5,556 |  |
As at Dec. 31, 2023 | 1,234 |  | 90 |  | 385 |  | 2,256 |  | 1,374 |  | 171 |  | 204 |  | 5,714 |  |
As at Dec. 31, 2024 | 120 |  | 90 |  | 406 |  | 3,398 |  | 1,669 |  | 130 |  | 207 |  | 6,020 |  |
(1)Includes major spare parts and standby equipment available, but not in service. (2)In 2024, the Company capitalized $16 million (2023 — $57 million) of interest to PP&E at a weighted average rate of 6.52 per cent (2023 — 6.3 per cent). (3)Includes transfers of assets upon commissioning to assets in service and other movements.
Disclosure of detailed information about intangible assets | Intangible assets consist of power sale contracts with fixed prices higher than market prices at the date of acquisition, software and intangibles under development. Estimated remaining useful lives of intangible assets are as follows:
Software | 1-7 years
Power sale contracts | 1-17 years

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