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Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2023
Derivative Instruments [Abstract] |
Schedule of volume of GRE's outstanding contracts and options |
Settlement Dates |  | Volume |
|  | Electricity (in MWH) |  |  | Gas (in Dth) |
Fourth quarter 2023 |  |  | 789,300 |  |  |  | 19,152 |
First quarter 2024 |  |  | 13,040 |  |  |  | 1,137,500 |
Second quarter 2024 |  |  | — |  |  |  | — |
Third quarter of 2024 |  |  | 24,208 |  |  |  | — |
Fourth quarter of 2024 |  |  | — |  |  |  | — |
First quarter of 2025 |  |  | — |  |  |  | 225,000 |
Second quarter of 2025 |  |  | — |  |  |  | 227,500 |
Third quarter of 2025 |  |  | — |  |  |  | 230,000 |
Fourth quarter of 2025 |  |  | — |  |  |  | 230,000 |
First quarter of 2026 |  |  | — |  |  |  | — |
Second quarter of 2026 |  |  | — |  |  |  | — |
Third quarter of 2026 |  |  | 3,520 |  |  |  | — |
Schedule of fair value of outstanding derivative instruments recorded as assets and liability |
Asset Derivatives |  | Balance Sheet Location |  | September 30, 2023 |  |  | December 31, 2022 |
|  |  |  | (in thousands) |
Derivatives not designated or not qualifying as hedging instruments: |  |  |  |  |  |  |  |  |  |
Energy contracts and options1 |  | Other current assets |  | $ | 865 |  |  | $ | 2,799 |
Energy contracts and options |  | Other assets |  |  | 730 |  |  |  | 1,261 |
Total derivatives not designated or not qualifying as hedging instruments — Assets |  |  |  | $ | 1,595 |  |  | $ | 4,060 |
Liability Derivatives |  | Balance Sheet Location |  | September 30, 2023 |  |  | December 31, 2022 |
|  |  |  | (in thousands) |
Derivatives not designated or not qualifying as hedging instruments: |  |  |  |  |  |  |  |  |  |
Energy contracts and options1 |  | Other current liabilities |  | $ | 2,380 |  |  | $ | 1,800 |
Energy contracts and options |  | Other liabilities |  |  | 12 |  |  |  | 1,057 |
Total derivatives not designated or not qualifying as hedging instruments — Liabilities |  |  |  | $ | 2,392 |  |  | $ | 2,857 |
(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 operations |
|  | Amount of (Loss) Gain Recognized on Derivatives |
Derivatives not designated or not qualifying as |  |  | Location of Gain Recognized |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
hedging instruments |  |  | on Derivatives |  |  | 2023 |  |  |  | 2022 |  |  |  | 2023 |  |  |  | 2022 |
|  |  |  |  | (in thousands) |  |  | (in thousands) |
Energy contracts and options |  |  | Cost of revenues |  | $ | (4,461 | ) |  | $ | 35,011 |  |  | $ | (21,590 | ) |  | $ | 102,060 |

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