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v3.23.2

Risk Management Activities and Derivative Transactions Derivative Instruments That Do Not Receive Hedge Accounting Treatment (Details) | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Jun. 30, 2023 USD ($) Years | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) Years | Jun. 30, 2022 USD ($) | Sep. 30, 2022 USD ($)
Derivative |  |  |  |  |  |  |  |
Change in Unrealized gains (losses) on Interest Rate Derivatives | $ (85,000,000) | $ 262,000,000 |  | $ (33,000,000) |  | $ 533,000,000 |  |
Fair value | 78,000,000 |  |  | 78,000,000 |  |  |  | $ 1,000,000
Increase (Decrease) in Derivative Assets |  |  |  | 362,000,000 |  |  |  |
Interest Rate Swap |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Gain (loss) recognized in income on derivatives | (10,000,000) | (26,000,000) | [1] | (36,000,000) | [1] | (83,000,000) | [1] |
Amount recognized for unrealized gains (losses) |  |  |  | 0 |  |  |  |
Fair value | (218,000,000) |  |  | (218,000,000) |  |  |  | (233,000,000)
Commodity Contract Derivatives |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Fair value | $ 11,000,000 |  |  | $ 11,000,000 |  |  |  | $ 145,000,000
Natural Gas [Member] |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Number of contracts | 64 |  |  | 64 |  |  |  | 44
Derivative, Nonmonetary Notional Amount | 337,000,000 |  |  | 337,000,000 |  |  |  | 296,000,000
Fair value | $ 18,000,000 |  |  | $ 18,000,000 |  |  |  | $ 145,000,000
Commodity Contract under FHP |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Gain (loss) recognized in income on derivatives | $ (97,000,000) | $ 14,000,000 |  | $ (256,000,000) |  | $ 14,000,000 |  |
Number of contracts | 303 |  |  | 303 |  |  |  | 225
Derivative, Nonmonetary Notional Amount | 420 |  |  | 420 |  |  |  | 256
Fair value | $ (247,000,000) |  |  | $ (247,000,000) |  |  |  | $ 115,000,000
Number Commodity Contract Term Years | Years | 5 |  |  | 5 |  |  |  |
[1] | All of TVA's derivative instruments that do not receive hedge accounting treatment have unrealized gains (losses) that would otherwise be recognized in income but instead are deferred as regulatory assets and liabilities. As such, there were no related gains (losses) recognized in income for these unrealized gains (losses) for the three and nine months ended June 30, 2023 and for the three and nine months ended June 30, 2022.(2) Of the amount recognized for the three months ended June 30, 2023, $78 million and $19 million were reported in Fuel expense and Purchased power expense, respectively. Of the amount recognized for nine months ended June 30, 2023, $205 million and $51 million were reported in Fuel expense and Purchased power expense, respectively. Amounts recognized in 2022 were solely reported in Fuel expense.

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