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Risk Management Activities and Derivative Transactions Fair Values of TVA Derivatives (Details) - USD ($)
$ in Millions

Jun. 30, 2016

Sep. 30, 2015

Derivatives, Fair Value

Gross amounts of recognized liabilities

$ 2,145

$ 1,839

200 million Sterling currency swap

Derivatives, Fair Value

Gross amounts of recognized liabilities

^[1]

167

47

200 million Sterling currency swap | Other long-term liabilities

Derivatives, Fair Value

Fair value

(79)

(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

(44)

150 million Sterling currency swap | Other long-term liabilities

Derivatives, Fair Value

Fair value

(44)

(6)

$1.0 billion notional interest rate swap | Other long-term liabilities

Derivatives, Fair Value

Fair value

(1,369)

(1,177)

$476 million notional interest rate swap | Other long-term liabilities

Derivatives, Fair Value

Fair value

(531)

(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

(177)

(97)

Commodity contract derivatives | Other long-term assets

Derivatives, Fair Value

Fair value

4

1

Commodity contract derivatives | Other current assets

Derivatives, Fair Value

Fair value

8

Commodity contract derivatives | Other long-term liabilities

Derivatives, Fair Value

Fair value

(72)

(17)

Commodity contract derivatives | Accounts payable and accrued liabilities

Derivatives, Fair Value

Fair value

(117)

(81)

Commodity derivatives under FTP

Derivatives, Fair Value

Gross amounts of recognized liabilities

66

165

Fair value

^[2]

(52)

(116)

Commodity derivatives under FTP | Other current assets

Derivatives, Fair Value

Gross amounts of recognized liabilities

41

89

Fair value

(41)

(89)

Commodity derivatives under FTP | Other long-term liabilities

Derivatives, Fair Value

Fair value

(4)

(10)

Commodity derivatives under FTP | Accounts payable and accrued liabilities

Derivatives, Fair Value

Fair value

$ (7)

$ (17)

[1]

Letters of credit of approximately $1.2 billion and $1.1 billion were posted as collateral at June 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 June 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 $41 million and $89 million at June 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.

X

- Definition

Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 20
-Section 50
-Paragraph 4D
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=64830801&loc=SL51823488-111719

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 3
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 4B
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-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 55
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51825145&loc=SL20226000-175313

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- Definition

Fair value of the assets less the liabilities of a derivative or group of derivatives.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41271-113958

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41228-113958

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 825
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