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Segment Disclosures (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of operating segments [abstract]

Disclosure of operating segments

Year ended Dec. 31, 2024						Hydro						Wind &  Solar(1)						Gas						Energy Transition						Energy Marketing						Corporate						Total						Equity- accounted investments(1)						Reclass  adjustments						IFRS financials
Revenues						409						357						1,350						616						168						(34)						2,866						(21)						—						2,845
Reclassifications and adjustments:
Unrealized mark-to-market (gain) loss						1						84						(60)						(36)						14						—						3						—						(3)						—
Realized gain (loss) on closed exchange positions						—						—						7						2						(15)						—						(6)						—						6						—
Decrease in finance lease receivable						—						2						19						—						—						—						21						—						(21)						—
Finance lease income						—						6						8						—						—						—						14						—						(14)						—
Revenues from Planned Divestitures						—						—						(1)						—						—						—						(1)						—						1						—
Brazeau penalties						(20)						—						—						—						—						—						(20)						—						20						—
Unrealized foreign exchange gain on commodity						—						—						(2)						—						—						—						(2)						—						2						—
Adjusted revenues						390						449						1,321						582						167						(34)						2,875						(21)						(9)						2,845
Fuel and purchased power						16						30						475						418						—						—						939						—						—						939
Reclassifications and adjustments:
Fuel and purchased power related to Planned Divestitures						—						—						(1)						—						—						—						(1)						—						1						—
Australian interest income						—						—						(4)						—						—						—						(4)						—						4						—
Adjusted fuel and purchased power						16						30						470						418						—						—						934						—						5						939
Carbon compliance						—						—						145						1						—						(34)						112						—						—						112
Gross margin						374						419						706						163						167						—						1,829						(21)						(14)						1,794
OM&A						86						97						198						69						36						173						659						(4)						—						655
Reclassifications and adjustments:
Brazeau penalties						(31)						—						—						—						—						—						(31)						—						31						—
ERP integration costs						—						—						—						—						—						(14)						(14)						—						14						—
Acquisition-related transaction and restructuring costs						—						—						—						—						—						(24)						(24)												24						—
Adjusted OM&A						55						97						198						69						36						135						590						(4)						69						655
Taxes, other than income taxes						3						16						13						3						—						1						36						—						—						36
Net other operating income						—						(10)						(40)						(9)						—						—						(59)						—						—						(59)
Reclassifications and adjustments:
Sundance A decommissioning cost reimbursement						—						—						—						9						—						—						9						—						(9)						—
Adjusted net other operating income						—						(10)						(40)						—						—						—						(50)						—						(9)						(59)
Adjusted EBITDA(2)						316						316						535						91						131						(136)						1,253
Equity income																																																												5
Finance lease income																																																												14
Depreciation and amortization																																																												(531)
Asset impairment charges																																																												(46)
Interest income																																																												30
Interest expense																																																												(324)
Foreign exchange gain																																																												5
Gain on sale of assets and other																																																												4
Earnings before income taxes																																																												319

(1)The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.

(2)Adjusted EBITDA are not defined and have no standardized meaning under IFRS.

Year ended Dec. 31, 2023						Hydro						Wind &  Solar(1)						Gas						Energy Transition						Energy Marketing						Corporate						Total						Equity- accounted investments(1)						Reclass adjustments						IFRS financials
Revenues						533						357						1,514						751						220						1						3,376						(21)						—						3,355
Reclassifications and adjustments:
Unrealized mark-to-market (gain) loss						(4)						16						(67)						(5)						23						—						(37)						—						37						—
Realized gain (loss) on closed exchange positions						—						—						10						—						(91)						—						(81)						—						81						—
Decrease in finance lease receivable						—						—						55						—						—						—						55						—						(55)						—
Finance lease income						—						—						12						—						—						—						12						—						(12)						—
Unrealized foreign exchange gain on commodity						—						—						1						—						—						—						1						—						(1)						—
Adjusted revenues						529						373						1,525						746						152						1						3,326						(21)						50						3,355
Fuel and purchased power						19						30						453						557						—						1						1,060						—						—						1,060
Reclassifications and adjustments:
Australian interest income						—						—						(4)						—						—						—						(4)						—						4						—
Adjusted fuel and purchased power						19						30						449						557						—						1						1,056						—						4						1,060
Carbon compliance						—						—						112						—						—						—						112						—						—						112
Gross margin						510						343						964						189						152						—						2,158						(21)						46						2,183
OM&A						48						80						192						64						43						115						542						(3)						—						539
Taxes, other than income taxes						3						12						11						3						—						1						30						(1)						—						29
Net other operating income						—						(7)						(40)						—						—						—						(47)												—						(47)
Reclassifications and adjustments:
Insurance recovery						—						1						—						—						—						—						1						—						(1)						—
Adjusted net other operating   income						—						(6)						(40)						—						—						—						(46)						—						(1)						(47)
Adjusted EBITDA(2)						459						257						801						122						109						(116)						1,632
Equity income																																																												4
Finance lease income																																																												12
Depreciation and amortization																																																												(621)
Asset impairment charges																																																												48
Interest income																																																												59
Interest expense																																																												(281)
Foreign exchange gain																																																												(7)
Gain on sale of assets and other																																																												4
Earnings before income taxes																																																												880

(1)The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.

(2)Adjusted EBITDA is not defined and has no standardized meaning under IFRS.

Year ended Dec. 31, 2022						Hydro						Wind & Solar(1)						Gas						Energy Transition						Energy Marketing						Corporate						Total						Equity- accounted investments(1)						Reclass adjustments						IFRS financials
Revenues						606						303						1,209						714						160						(2)						2,990						(14)												2,976
Reclassifications and adjustments:
Unrealized mark-to-market (gain) loss						1						104						251						10						12						—						378						—						(378)						—
Realized gain (loss) on closed exchange positions						—						—						(4)						—						47						—						43						—						(43)						—
Decrease in finance lease receivable						—						—						46						—						—						—						46						—						(46)						—
Finance lease income						—						—						19						—						—						—						19						—						(19)						—
Brazeau penalties						20						—						—						—						—						—						20						—						(20)						—
Unrealized foreign exchange gain on commodity						—						—						—						—						(1)						—						(1)						—						1						—
Adjusted revenues						627						407						1,521						724						218						(2)						3,495						(14)						(505)						2,976
Fuel and purchased power						22						31						641						566						—						3						1,263						—						—						1,263
Reclassifications and adjustments:
Australian interest income						—						—						(4)						—						—						—						(4)						—						4						—
Adjusted fuel and purchased power						22						31						637						566						—						3						1,259						—						4						1,263
Carbon compliance						—						1						83						(1)						—						(5)						78						—						—						78
Gross margin						605						375						801						159						218						—						2,158						(14)						(509)						1,635
OM&A						55						68						195						69						35						101						523						(2)						—						521
Reclassifications and adjustments:
Brazeau penalties						(2)						—						—						—						—						—						(2)						—						2						—
Adjusted OM&A						53						68						195						69						35						101						521						(2)						2						521
Taxes, other than income taxes						3						12						15						4						—						1						35						(2)						—						33
Net other operating loss (income)						—						(23)						(38)						—						—						—						(61)						3						—						(58)
Reclassifications and adjustments:
Royalty onerous contract and contract termination penalties						—						7						—						—						—						—						7						—						(7)						—
Adjusted net other operating loss (income)						—						(16)						(38)						—						—						—						(54)						3						(7)						(58)
Adjusted EBITDA(2)						549						311						629						86						183						(102)						1,656
Equity income																																																												9
Finance lease income																																																												19
Depreciation and amortization																																																												(599)
Asset impairment charges																																																												(9)
Interest income																																																												24
Interest expense																																																												(286)
Foreign exchange gain																																																												4
Gain on sale of assets and other																																																												52
Earnings before income taxes																																																												353

(1)The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.

(2)Adjusted EBITDA is not defined and has no standardized meaning under IFRS.

Disclosure of selected consolidated statements of financial position information

Selected Consolidated Statements of Financial Position Information

As at Dec. 31, 2024			Hydro			Wind and Solar			Gas			Energy Transition			Energy Marketing			Corporate			Total
PP&E			501			3,428			1,805			206			—			80			6,020
Right-of-use assets			7			96			6			—			—			11			120
Intangible assets			3			133			108			4			3			30			281
Goodwill			258			178			51			—			30			—			517
As at Dec. 31, 2023			Hydro			Wind and Solar			Gas			Energy Transition			Energy Marketing			Corporate			Total
PP&E			462			3,360			1,543			251			—			98			5,714
Right-of-use assets			7			94			5			—			—			11			117
Intangible assets			2			141			40			4			5			31			223
Goodwill			258			176			—			—			30			—			464

Disclosure of components in other non-current assets

Additions to non-current assets are as follows:

Year ended Dec. 31, 2024			Hydro			Wind and Solar			Gas			Energy Transition			Energy Marketing			Corporate			Total
Additions to non-current assets:
PP&E(1)			64			97			100			13			—			37			311
Intangible assets(1)			—			—			—			—			—			10			10
(1)Excludes additions attributable to the Heartland acquisition on Dec. 4, 2024
Year ended Dec. 31, 2023			Hydro			Wind and Solar			Gas			Energy Transition			Energy Marketing			Corporate			Total
Additions to non-current assets:
PP&E			42			674			89			16			—			54			875
Intangible assets			—			—			—			—			—			13			13
Year ended Dec. 31, 2022			Hydro			Wind and Solar			Gas			Energy Transition			Energy Marketing			Corporate			Total
Additions to non-current assets:
PP&E			36			745			43			19			—			75			918
Intangible assets			—			19			—			—			3			9			31

Disclosure of geographical areas

Revenues

Year ended Dec. 31			2024			2023			2022
Canada			2,009			2,218			1,905
U.S.			676			987			940
Western Australia			160			150			131
Total revenue			2,845			3,355			2,976

II. Non-Current Assets

			Property, plant and equipment						Right-of-use assets						Intangible assets						Other assets
As at Dec. 31			2024			2023			2024			2023			2024			2023			2024			2023
Canada			3,828			3,578			41			43			170			108			85			68
U.S.			1,852			1,749			74			71			86			88			36			42
Western Australia			340			387			5			3			25			27			58			69
Total			6,020			5,714			120			117			281			223			179			179

X

- Definition

The disclosure of geographical information.

+ References

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-Name IFRS
-Number 8
-IssueDate 2024-01-01
-Paragraph 33
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&anchor=para_33&doctype=Standard
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-IssueDate 2024-01-01
-Paragraph 23
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