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Regulatory Assets and Liabilities (Tables) | 6 Months Ended
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Mar. 31, 2022
Regulatory Assets and Liabilities Disclosure [Abstract] |
Regulatory Assets and Liabilities | Components of regulatory assets and regulatory liabilities are summarized in the table below.
Regulatory Assets and Liabilities
| At March 31, 2022 |  | At September 30, 2021
Current regulatory assets |  |  |
Unrealized losses on interest rate derivatives | $ | 86 |  |  | $ | 114 |
Unrealized losses on commodity derivatives | 4 |  |  | 3 |
Fuel cost adjustment receivable | 19 |  |  | 79 |
Total current regulatory assets | 109 |  |  | 196 |
Non-current regulatory assets |  |  |
Deferred pension costs and other post-retirement benefits costs | 3,518 |  |  | 3,668 |
Non-nuclear decommissioning costs | 2,716 |  |  | 2,653 |
Unrealized losses on interest rate derivatives | 888 |  |  | 1,122 |
Nuclear decommissioning costs | 331 |  |  | 363 |
Unrealized losses on commodity derivatives | 3 |  |  | — |
Other non-current regulatory assets | 140 |  |  | 150 |
Total non-current regulatory assets | 7,596 |  |  | 7,956 |
Total regulatory assets | $ | 7,705 |  |  | $ | 8,152 |
Current regulatory liabilities |  |  |
Fuel cost adjustment tax equivalents | $ | 149 |  |  | $ | 130 |
Unrealized gains on commodity derivatives | 208 |  |  | 210 |
Total current regulatory liabilities | 357 |  |  | 340 |
Non-current regulatory liabilities |  |  |
Unrealized gains on commodity derivatives | 53 |  |  | 40 |
Total non-current regulatory liabilities | 53 |  |  | 40 |
Total regulatory liabilities | $ | 410 |  |  | $ | 380 |
TVA reinstated the FHP in December 2021, and hedging activity began under the program in the second quarter of 2022. Deferred gains and losses relating to TVA's FHP represent net unrealized gains and losses on financial instruments used to hedge risks related to commodity prices, which are also included as part of unrealized gains and losses on commodity derivatives. Currently, TVA is hedging exposure to the price of natural gas under the FHP. TVA defers all mark-to-market ("MtM") unrealized gains or losses as regulatory liabilities or assets, respectively, and records the realized gains or losses in fuel and purchased power expense as the contracts settle to match the delivery period of the underlying commodity. This accounting treatment reflects TVA's ability and intent to include the realized gains or losses of these commodity contracts in future periods through the fuel cost adjustment. Net unrealized gains and losses for any settlements that occur within 12 months or less are classified as a current regulatory asset or liability. See Note 14 — Risk Management Activities and Derivative Transactions.

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- Definition Tabular disclosure of assets and liabilities that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet or that result from rate actions of a regulator. Rate actions of a regulator can impose a liability on a regulated enterprise resulting in a regulatory liability. Regulatory liabilities can result from obligations to make refunds to customers or deferral of gains that will be credited to customers in future periods + References No definition available. + Details
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