v3.20.1

Related Party Transactions | 3 Months Ended
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Mar. 31, 2020
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions We have entered into various agreements with related parties associated with the operation of our business. A description of these related party transactions is provided below: Calpine Receivables — Under the Accounts Receivable Sales Program, at March 31, 2020 and December 31, 2019, we had $210 million and $222 million, respectively, in trade accounts receivable outstanding that were sold to Calpine Receivables and $42 million and $38 million, respectively, in notes receivable from Calpine Receivables which were recorded on our Consolidated Condensed Balance Sheets. During the three months ended March 31, 2020 and 2019, we sold an aggregate of $525 million and $597 million, respectively, in trade accounts receivable and recorded $521 million and $579 million, respectively, in proceeds. For a further discussion of the Accounts Receivable Sales Program and Calpine Receivables, see Notes 7 and 17 in our 2019 Form 10-K. Lyondell — We have a ground lease agreement with Houston Refining LP (“Houston Refining”), a subsidiary of Lyondell, for our Channel Energy Center site from which we sell power, capacity and steam to Houston Refining under a PPA. We purchase refinery gas and raw water from Houston Refining under a facilities services agreement. One of the entities which has a material ownership interest in Calpine also has an ownership interest in Lyondell whereby they may significantly influence the management and operating policies of Lyondell. We recorded $13 million and $20 million in operating revenues during the three months ended March 31, 2020 and 2019, respectively and $3 million and $3 million in operating expenses during the three months ended March 31, 2020 and 2019, respectively, associated with the Lyondell contract. At March 31, 2020 and December 31, 2019, the related party receivable and payable associated with the Lyondell contract were immaterial. Other — We have identified other related party contracts for the sale of power, capacity, steam and RECs which are entered into in the ordinary course of our business. Most of these contracts relate to the sale of commodities and capacity for varying tenors. We have also entered into a long-term land lease agreement with a related party. As of March 31, 2020 and December 31, 2019, the related party revenues, expenses, receivables and payables associated with these transactions were immaterial.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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