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Regulatory Assets and Liabilities | 3 Months Ended
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Jun. 30, 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 June 30, 2024 |  | At September 30, 2023
Current regulatory assets |  |  |
Unrealized losses on commodity derivatives | $ | 122 |  |  | $ | 136 |
Unrealized losses on interest rate derivatives | 34 |  |  | 31 |
Fuel cost adjustment receivable | 22 |  |  | 11 |
Total current regulatory assets | 178 |  |  | 178 |
Non-current regulatory assets |  |  |
Non-nuclear decommissioning costs | 6,183 |  |  | 2,922 |
Retirement benefit plans deferred costs | 1,432 |  |  | 1,440 |
Nuclear decommissioning costs | 471 |  |  | 728 |
Unrealized losses on interest rate derivatives | 344 |  |  | 272 |
Environmental compliance and remediation costs | 169 |  |  | — |
Unrealized losses on commodity derivatives | 59 |  |  | 52 |
Other non-current regulatory assets | 151 |  |  | 152 |
Total non-current regulatory assets | 8,809 |  |  | 5,566 |
Total regulatory assets | $ | 8,987 |  |  | $ | 5,744 |
Current regulatory liabilities |  |  |
Fuel cost adjustment tax equivalents | $ | 173 |  |  | $ | 201 |
Unrealized gains on commodity derivatives | 9 |  |  | 21 |
Total current regulatory liabilities | 182 |  |  | 222 |
Non-current regulatory liabilities |  |  |
Retirement benefit plans deferred credits | 82 |  |  | 95 |
Unrealized gains on commodity derivatives | 9 |  |  | 12 |
Total non-current regulatory liabilities | 91 |  |  | 107 |
Total regulatory liabilities | $ | 273 |  |  | $ | 329 |
Non-Nuclear Decommissioning Costs. Non-nuclear decommissioning costs include (1) certain deferred charges related to the future closure and decommissioning of TVA's non-nuclear long-lived assets, (2) recognition of changes in the liability, (3) recognition of changes in the value of TVA's Asset Retirement Trust, and (4) certain other deferred charges under the accounting rules for asset retirements obligations ("AROs"). During the three months ended June 30, 2024, TVA recorded additional estimated AROs of $3.1 billion as a result of the Environmental Protection Agency's ("EPA's") final legacy CCR rule ("Legacy CCR Rule") and recorded a corresponding regulatory asset of $3.1 billion due to these AROs being associated with closed sites and asset retirement costs having been fully depreciated. See Note 11 — Asset Retirement Obligations. 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. See Note 20 — Contingencies and Legal Proceedings — Contingencies — Environmental Matters.

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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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