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Risk Management Activities and Derivative Transactions Risk Management Activities and Derivative Transactions - Mark-to-Market Values of TVA Derivatives (Details) - USD ($)
$ in Millions
Sep. 30, 2016
Sep. 30, 2015
Derivatives, Fair Value    
Derivative Liability, Fair Value $ 2,145 $ 1,839
200 million Sterling currency swap    
Derivatives, Fair Value    
Derivative Liability, Fair Value [1] 162 47
200 million Sterling currency swap | Other long-term liabilities    
Derivatives, Fair Value    
Fair value 82 41
250 million Sterling currency swap | Other long-term assets    
Derivatives, Fair Value    
Fair value   (25)
250 million Sterling currency swap | Other long-term liabilities    
Derivatives, Fair Value    
Fair value 41  
150 million Sterling currency swap | Other long-term liabilities    
Derivatives, Fair Value    
Fair value 39 6
$1.0 billion notional interest rate swap | Other long-term liabilities    
Derivatives, Fair Value    
Fair value 1,387 1,177
$476 million notional interest rate swap | Other long-term liabilities    
Derivatives, Fair Value    
Fair value 539 438
$42 million notional interest rate swap | Other long-term liabilities    
Derivatives, Fair Value    
Fair value 12 12
Commodity contract derivatives    
Derivatives, Fair Value    
Fair value 125 97
Commodity contract derivatives | Other long-term assets    
Derivatives, Fair Value    
Fair value (6)  
Commodity contract derivatives | Other long-term liabilities    
Derivatives, Fair Value    
Fair value 49  
Commodity contract derivatives | Other current assets    
Derivatives, Fair Value    
Fair value (3) (1)
Commodity contract derivatives | Accounts payable and accrued liabilities    
Derivatives, Fair Value    
Fair value 85  
Derivatives Under FTP    
Derivatives, Fair Value    
Fair value [2] (39) (116)
Derivatives Under FTP | Other long-term liabilities    
Derivatives, Fair Value    
Fair value 2 10
Derivatives Under FTP | Other current assets    
Derivatives, Fair Value    
Derivative Liability, Fair Value 30 89
Fair value 30 89
Derivatives Under FTP | Accounts payable and accrued liabilities    
Derivatives, Fair Value    
Fair value $ 7 $ 17
[1] Letters of credit of approximately $1.4 billion and $1.1 billion were posted as collateral at September 30, 2016 and September 30, 2015, respectively, to partially secure the liability positions of one of the currency swaps and one of the interest rate swaps in accordance with the collateral requirements for these derivatives. At September 30, 2016, TVA held no cash collateral in excess of collateral requirements. At September 30, 2015, TVA held $15 million of cash collateral in excess of collateral requirements. Cash collateral held in excess of collateral requirements is recorded in Restricted cash and investments with a corresponding obligation of the same amount recorded in Accounts payable and accrued liabilities.
[2] Fair values of certain derivatives under the FTP that were in net liability positions totaling $30 million and $89 million at September 30, 2016 and September 30, 2015, respectively, are recorded in TVA's margin cash accounts in Other current assets. These derivatives are transacted with futures commission merchants, and cash deposits have been posted to the margin cash accounts held with each futures commission merchant to offset the net liability positions in full.