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Risk Management Activities and Derivative Transactions Derivative Instruments That Do Not Receive Hedge Accounting Treatment (Details) | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Sep. 30, 2023 USD ($)
Derivative |  |  |  |  |  |  |  |
Change in Unrealized gains (losses) on Interest Rate Derivatives | $ (94,000,000) | $ 66,000,000 |  | $ (95,000,000) |  | $ (52,000,000) |  |
Fair value | 80,000,000 |  |  | 80,000,000 |  |  |  | $ 52,000,000
Increase (Decrease) in Derivative Assets |  |  |  | 81,000,000 |  |  |  |
Interest Rate Swap |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Amount recognized for unrealized gains (losses) |  |  |  | 0 |  |  |  |
Interest Rate Swap | Other Regulatory Assets (Liabilities) |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (7,000,000) | (11,000,000) | [1] | $ (15,000,000) | [1] | (26,000,000) | [1] |
Commodity Contract Derivatives |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Number of contracts | 33 |  |  | 33 |  |  |  | 54
Derivative, Nonmonetary Notional Amount | 396,000,000 |  |  | 396,000,000 |  |  |  | 318,000,000
Fair value | $ 14,000,000 |  |  | $ 14,000,000 |  |  |  | $ 31,000,000
Commodity Contract under FHP |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Number of contracts | 153 |  |  | 153 |  |  |  | 221
Derivative, Nonmonetary Notional Amount | 300 |  |  | 300 |  |  |  | 388
Fair value | $ (267,000,000) |  |  | $ (267,000,000) |  |  |  | $ (186,000,000)
Derivative, Term of Contract | 4 years |  |  |  |  |  |  |
Derivative, Term of Contract | 4 years |  |  |  |  |  |  |
Commodity Contract under FHP | Other Regulatory Assets (Liabilities) |  |  |  |  |  |  |  |
Derivative |  |  |  |  |  |  |  |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (101,000,000) | $ (140,000,000) |  | $ (155,000,000) |  | $ (159,000,000) |  |
[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 six months ended March 31, 2024 and for the three and six months ended March 31, 2023. (2) Of the amount recognized for the three months ended March 31, 2024, $83 million and $18 million were reported in Fuel expense and Purchased power expense, respectively, and of the amount recognized for three months ended March 31, 2023, $112 million and $28 million were reported in Fuel expense and Purchased power expense, respectively. Of the amount recognized for the six months ended March 31, 2024, $127 million and $28 million were reported in Fuel expense and Purchased power expense, respectively, and of the amount recognized for six months ended March 31, 2023, $127 million and $32 million were reported in Fuel expense and Purchased power expense, respectively.

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