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Derivative Instruments (Tables) | 6 Months Ended
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Jun. 30, 2020
Derivative Instruments [Abstract] |
Summary of volume of GRE's outstanding contracts and options |
Settlement Dates |  | Volume |
|  | Electricity (in MWH) |  |  | Gas (in Dth) |
Third quarter 2020 |  |  | 69,200 |  |  |  | 72,961 |
Fourth quarter 2020 |  |  | 134,859 |  |  |  | 122,651 |
First quarter 2021 |  |  | — |  |  |  | 133,750 |
Second quarter 2021 |  |  | — |  |  |  | 89,800 |
Third quarter 2021 |  |  | — |  |  |  | 67,850 |
Fourth quarter 2021 |  |  | — |  |  |  | 68,700 |
First quarter 2022 |  |  | — |  |  |  | 67,300 |
Second quarter 2022 |  |  | — |  |  |  | 40,000 |
Third quarter 2022 |  |  | — |  |  |  | 8,650 |
Fourth quarter 2022 |  |  | — |  |  |  | 9,000 |
First quarter 2023 |  |  | — |  |  |  | 8,450 |
Second quarter 2023 |  |  | — |  |  |  | 1,700 |
Schedule of fair value of outstanding derivative instruments recorded as assets and liability |
Asset Derivatives |  | Balance Sheet Location |  | June 30, 2020 |  |  | December 31, 2019 |
|  |  |  | (in thousands) |
Derivatives not designated or not qualifying as hedging instruments: |  |  |  |  |  |  |  |  |  |
Energy contracts and options1 |  | Other current assets |  | $ | 335 |  |  | $ | 324 |
Energy contracts and options |  | Other assets |  |  | 9 |  |  |  | 3 |
Total derivatives not designated or not qualifying as hedging instruments — Assets |  |  |  | $ | 344 |  |  | $ | 327 |
Liability Derivatives |  |  |  |  |  |  |  |
Derivatives not designated or not qualifying as hedging instruments: |  |  |  |  |  |  |  |  |  |
Energy contracts and options1 |  | Other current liabilities |  | $ | 1,297 |  |  |  | 1,909 |
Energy contracts and options |  | Other liabilities |  |  | 42 |  |  |  | 70 |
Total derivatives not designated or not qualifying as hedging instruments — Liabilities |  |  |  | $ | 1,339 |  |  | $ | 1,979 |
(1) The Company classifies derivative assets and liabilities as current based on the cash flows expected to be incurred within the following 12 months.
Schedule of derivative instruments on the consolidated statements of income | The effects of derivative instruments on the consolidated statements of operations was as follows:
|  | Amount of Loss Recognized on Derivatives |
Derivatives not designated or not qualifying as |  | Location of Loss Recognized |  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
hedging instruments |  | on Derivatives |  |  | 2020 |  |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  |  |  | (in thousands) |  |  | (in thousands) |
Energy contracts and options |  | Cost of revenues |  | $ | (6,200) |  |  | $ | (7,921 | ) |  | $ | (18,589) |  |  | $ | (10,830 | )

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