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Regulatory Assets and Liabilities | 3 Months Ended
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Mar. 31, 2024
Regulatory Assets and Liabilities Disclosure [Abstract] |
Regulatory Assets and Liabilities | 8. Regulatory Assets and Liabilities TVA records certain assets and liabilities that result from the regulated ratemaking process that would not be recorded under GAAP for non-regulated entities. As such, certain items that would generally be reported in earnings or that would impact the Consolidated Statements of Operations are recorded as regulatory assets or regulatory liabilities. Regulatory assets generally represent incurred costs that have been deferred because such costs are probable of future recovery in customer rates. Regulatory liabilities generally represent obligations to make refunds to customers for previous collections for costs that are not likely to be incurred or deferral of gains that will be credited to customers in future periods. Components of regulatory assets and regulatory liabilities are summarized in the table below.
Regulatory Assets and Liabilities (in millions)
| At March 31, 2024 |  | At September 30, 2023
Current regulatory assets |  |  |
Unrealized losses on interest rate derivatives | $ | 37 |  |  | $ | 31 |
Unrealized losses on commodity derivatives | 191 |  |  | 136 |
Fuel cost adjustment receivable | 2 |  |  | 11 |
Total current regulatory assets | 230 |  |  | 178 |
Non-current regulatory assets |  |  |
Retirement benefit plans deferred costs | 1,435 |  |  | 1,440 |
Non-nuclear decommissioning costs | 2,985 |  |  | 2,922 |
Unrealized losses on interest rate derivatives | 369 |  |  | 272 |
Nuclear decommissioning costs | 457 |  |  | 728 |
Unrealized losses on commodity derivatives | 80 |  |  | 52 |
Environmental compliance and remediation costs | 62 |  |  | — |
Other non-current regulatory assets | 152 |  |  | 152 |
Total non-current regulatory assets | 5,540 |  |  | 5,566 |
Total regulatory assets | $ | 5,770 |  |  | $ | 5,744 |
Current regulatory liabilities |  |  |
Fuel cost adjustment tax equivalents | $ | 186 |  |  | $ | 201 |
Fuel cost adjustment payable | 11 |  |  | — |
Unrealized gains on commodity derivatives | 10 |  |  | 21 |
Total current regulatory liabilities | 207 |  |  | 222 |
Non-current regulatory liabilities |  |  |
Retirement benefit plans deferred credits | 86 |  |  | 95 |
Unrealized gains on commodity derivatives | 8 |  |  | 12 |
Total non-current regulatory liabilities | 94 |  |  | 107 |
Total regulatory liabilities | $ | 301 |  |  | $ | 329 |
Environmental Compliance and Remediation Costs. TVA uses regulatory accounting for certain amounts associated with compliance with an order, regulation, settlement, or lawsuit, or certain costs associated with environmental remediation activities, including but not limited to those involving environmental cleanup activities and groundwater activities. Costs will be recovered in rates based on the average life of debt financed to fund actual expenditures.

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- Definition The entire disclosure for detailed information about regulatory assets and liabilities, including current and noncurrent assets created when regulatory agencies permit the deferral of costs to the balance sheet that would otherwise be required to appear on the company's income statement and would be charged against current expenses or revenues, as well as current and noncurrent liabilities created when regulatory agencies permit. + References No definition available. + Details
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