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Risk Management Activities and Derivative Transactions Fair Values of TVA Derivatives (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Sep. 30, 2016
--- | --- | ---
Derivatives, Fair Value |  |  |
Gross amounts of recognized liabilities |  | $ 1,687 | $ 2,145
200 million Sterling currency swap |  |  |
Derivatives, Fair Value |  |  |
Gross amounts of recognized liabilities | [1] | 170 | 162
200 million Sterling currency swap | Other Noncurrent Liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (88) | (82)
250 million Sterling currency swap | Other Noncurrent Liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (47) | (41)
150 million Sterling currency swap | Other Noncurrent Liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (35) | (39)
$1.0 billion notional interest rate swap | Other Noncurrent Liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (1,084) | (1,387)
$476 million notional interest rate swap | Other Noncurrent Liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (404) | (539)
$42 million notional interest rate swap | Other Noncurrent Liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (9) | (12)
Commodity contract derivatives |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (87) | (125)
Commodity contract derivatives | Other long-term assets |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | 6 | 3
Commodity contract derivatives | Other current assets |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | 22 | 6
Commodity contract derivatives | Other Noncurrent Liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (32) | (49)
Commodity contract derivatives | Accounts payable and accrued liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (83) | (85)
Commodity derivatives under FTP |  |  |
Derivatives, Fair Value |  |  |
Fair value | [2] | (20) | (39)
Gross amounts of recognized liabilities |  | 20 | 45
Commodity derivatives under FTP | Other current assets |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (15) | (30)
Commodity derivatives under FTP | Accounts payable and accrued liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | (5) | (7)
Derivatives in net liability positions | Other current assets |  |  |
Derivatives, Fair Value |  |  |
Gross amounts of recognized liabilities |  | 15 | 30
Derivatives in net liability positions | Other Noncurrent Liabilities |  |  |
Derivatives, Fair Value |  |  |
Fair value |  | $ 0 | $ (2)
[1] | Letters of credit of approximately $1.1 billion and $1.4 billion were posted as collateral at December 31, 2016, and September 30, 2016, 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.
[2] | Fair values of certain derivatives under the FTP that were in net liability positions totaling $15 million and $30 million at December 31, 2016, and September 30, 2016, 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.

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