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Derivative Instruments (Tables) | 12 Months Ended
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Dec. 31, 2021
Derivative Instruments |
Schedule of derivatives financial position | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​ | ​ | ​
​ | ​ | Derivative Assets | ​ | Derivative Liabilities | ​ | ​ | ​
(in millions) |  | Short-Term1 |  | Long-Term2 |  | Subtotal |  | Short-Term |  | Long-Term |  | Subtotal |  | Net Assets
Commodity derivative contracts |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Gross amounts recognized | ​ | $ | 70 | ​ | $ | 6 | ​ | $ | 76 | ​ | $ | 46 | ​ | $ | 2 | ​ | $ | 48 | ​ | $ | 28
Gross amounts offset in the consolidated balance sheets | ​ |  | (30) | ​ |  | (2) | ​ |  | (32) | ​ |  | (30) | ​ |  | (2) | ​ |  | (32) | ​ |  | —
Cash collateral posted3 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (16) | ​ |  | — | ​ |  | (16) | ​ |  | 16
Net amounts presented in the consolidated balance sheets | ​ | $ | 40 | ​ | $ | 4 | ​ | $ | 44 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 44
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020 | ​ | ​ | ​
​ | ​ | Derivative Assets | ​ | Derivative Liabilities | ​ | ​ | ​
(in millions) |  | Short-Term1 |  | Long-Term2 |  | Subtotal |  | Short-Term |  | Long-Term |  | Subtotal |  | Net Assets
Commodity derivative contracts |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Gross amounts recognized | ​ | $ | 103 | ​ | $ | 23 | ​ | $ | 126 | ​ | $ | 16 | ​ | $ | 6 | ​ | $ | 22 | ​ | $ | 104
Gross amounts offset in the consolidated balance sheets | ​ |  | (12) | ​ |  | (6) | ​ |  | (18) | ​ |  | (12) | ​ |  | (6) | ​ |  | (18) | ​ |  | —
Cash collateral posted3 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (4) | ​ |  | — | ​ |  | (4) | ​ |  | 4
Net amounts presented in the consolidated balance sheets | ​ | $ | 91 | ​ | $ | 17 | ​ | $ | 108 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 108
1 | Included in "Other current assets" on Edison International's and SCE's consolidated balance sheets.
2 | Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets.
3 | At December 31, 2021, SCE posted $65 million of cash, of which $16 million was offset against derivative liabilities and $49 million was reflected in "Other current assets" on the consolidated balance sheets. At December 31, 2020, SCE posted $17 million of cash, of which $4 million was offset against derivative liabilities and $13 million was reflected in "Other current assets" on the consolidated balance sheets.
Components of Economic Hedging Activity | The following table summarizes the components of SCE's economic hedging activity:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Years ended December 31,
(in millions) |  | ​ | 2021 | ​ | ​ | 2020 | ​ | ​ | 2019
Realized gains (losses) | ​ | $ | 200 | ​ | $ | 87 | ​ | $ | (7)
Unrealized (losses) gains | ​ |  | (75) | ​ |  | 17 | ​ |  | (74)
Notional Volumes of Derivative Instruments | The following table summarizes the notional volumes of derivatives used for SCE economic hedging activities:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Economic Hedges
​ | ​ | ​ | Unit of | ​ | December 31,
Commodity |  | ​ | Measure |  | 2021 |  | 2020
Electricity options, swaps and forwards |  | ​ | GWh |  | 1,869 |  | 1,581
Natural gas options, swaps and forwards |  |  | Bcf |  | 58 |  | 34
Congestion revenue rights |  |  | GWh |  | 33,216 |  | 41,151

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