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Derivative Instruments (Tables)

6 Months Ended

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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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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Tabular disclosure of the notional amounts of outstanding derivative positions.

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-Topic 815
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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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