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Derivative Instruments (Tables) | 6 Months Ended
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Jun. 30, 2022
Derivative Instruments |
Schedule of derivative assets financial position | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2022 | ​ | ​ | ​
​ | ​ | Derivative Assets | ​ | Derivative Liabilities | ​ | ​ | ​
(in millions) |  | Short-Term1 |  | Long-Term2 |  | Subtotal |  | Short-Term |  | Long-Term |  | Subtotal |  | Net Assets
Commodity derivative contracts |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Gross amounts recognized | ​ | $ | 59 | ​ | $ | 4 | ​ | $ | 63 | ​ | $ | 68 | ​ | $ | 1 | ​ | $ | 69 | ​ | $ | (6)
Gross amounts offset in the consolidated balance sheets | ​ |  | (30) | ​ |  | (1) | ​ |  | (31) | ​ |  | (30) | ​ |  | (1) | ​ |  | (31) | ​ |  | —
Cash collateral posted and accrued3 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (38) | ​ |  | — | ​ |  | (38) | ​ |  | 38
Net amounts presented in the consolidated balance sheets | ​ | $ | 29 | ​ | $ | 3 | ​ | $ | 32 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 32
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
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 June 30, 2022, SCE posted and accrued $80 million of cash collateral, of which $38 million was offset against derivative liabilities and $42 million was reflected in "Other current asset" on the consolidated balance sheets. 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.
Components of Economic Hedging Activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three months ended June 30, | ​ | Six months ended June 30,
(in millions) |  | ​ | 2022 | ​ | ​ | 2021 |  | 2022 | ​ | 2021
Realized gains | ​ | $ | 129 | ​ | $ | 15 | ​ | $ | 110 | ​ | $ | 127
Unrealized (losses) gains | ​ |  | (88) | ​ |  | 16 | ​ |  | (35) | ​ |  | 10
Notional Volumes of Derivative Instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unit of | ​ | Economic Hedges
Commodity |  | Measure |  | June 30, 2022 |  | December 31, 2021
Electricity options, swaps and forwards |  | GWh |  | 756 |  | 1,869
Natural gas options, swaps and forwards |  | Bcf |  | 52 |  | 58
Congestion revenue rights |  | GWh |  | 24,301 |  | 33,216

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