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Fair Value Measurements Fair Value Measurements (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Sep. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Financing Receivable, after Allowance for Credit Loss $ 99 $ 94
Investments    
Government debt securities 598 597
Corporate debt securities 377 411
Mortgage and asset-backed securities 77 63
Institutional mutual funds 233 225
Forward debt securities contracts (2) 2
Private credit measured at net asset value 80 71
Private equity funds measured at net asset value(1) 448 357 [1]
Private real estate funds measured at net asset value(1) 308 272 [1]
Commingled funds measured at net asset value(1) 1,476 1,421 [1]
Total investments 4,314 4,053
Commodity contract derivatives 111 250
Total 4,425 4,303
Liabilities    
Currency swaps [2] 78 83
Interest rate swaps 1,622 1,639
Commodity contract derivatives 6 3
Total 1,706 1,725
Decommissioning Fund Investments 1,200  
Balance in NDT 3,000  
Equity Securities, FV-NI 719 634
Fair Value, Inputs, Level 1    
Investments    
Government debt securities 577 573
Corporate debt securities 0 0
Mortgage and asset-backed securities 0 0
Institutional mutual funds 233 225
Forward debt securities contracts 0 0
Private credit measured at net asset value 0 0
Private equity funds measured at net asset value(1) [1]   0
Private real estate funds measured at net asset value(1) 0 0 [1]
Commingled funds measured at net asset value(1) 0 0 [1]
Total investments 1,529 1,432
Commodity contract derivatives 0 0
Total 1,529 1,432
Liabilities    
Currency swaps 0 0 [2]
Interest rate swaps 0 0
Commodity contract derivatives 0 0
Total 0 0
Equity Securities, FV-NI 719 634
Fair Value, Inputs, Level 2    
Investments    
Government debt securities 21 24
Corporate debt securities 377 411
Mortgage and asset-backed securities 77 63
Institutional mutual funds 0 0
Forward debt securities contracts (2) 2
Private credit measured at net asset value 0 0
Private equity funds measured at net asset value(1) [1]   0
Private real estate funds measured at net asset value(1) 0 0 [1]
Commingled funds measured at net asset value(1) 0 0 [1]
Total investments 473 500
Commodity contract derivatives 111 250
Total 584 750
Liabilities    
Currency swaps 78 83 [2]
Interest rate swaps 1,622 1,639
Commodity contract derivatives 6 3
Total 1,706 1,725
Equity Securities, FV-NI 0 0
Fair Value, Inputs, Level 3    
Investments    
Government debt securities 0 0
Corporate debt securities 0 0
Mortgage and asset-backed securities 0 0
Institutional mutual funds 0 0
Forward debt securities contracts 0 0
Private credit measured at net asset value 0 0
Private equity funds measured at net asset value(1) [1]   0
Private real estate funds measured at net asset value(1) 0 0 [1]
Commingled funds measured at net asset value(1) 0 0 [1]
Total investments 0 0
Commodity contract derivatives 0 0
Total 0 0
Liabilities    
Currency swaps 0 0 [2]
Interest rate swaps 0 0
Commodity contract derivatives 0 0
Total 0 0
Equity Securities, FV-NI $ 0 $ 0
[1] Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Consolidated Balance Sheets.
[2] TVA records currency swaps net of cash collateral received from or paid to the counterparty, to the extent such amount is not recorded in Accounts payable and accrued liabilities. See Note 14 — Risk Management Activities and Derivative Transactions — Offsetting of Derivative Assets and Liabilities.