Derivatives And Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2015

Derivatives And Hedging Activities [Abstract]

Volumes Of Outstanding Derivative Contracts

		Contract Volume
Underlying Product	Instruments	2015	2014
Natural Gas (1) (MMBtus (2))	Forwards and Swaps	333,091,813	308,130,101
	Options	111,550,004	164,418,002
Electricity (Megawatt-hours)	Forwards and Swaps	3,663,512	5,346,787
	Congestion Revenue Rights (3)	216,383,389	224,124,341

(1) Amounts shown are for the combined positions of the electric fuels and core gas supply portfolios.

(2) Million British Thermal Units.

(3) CRRs are financial instruments that enable the holders to manage variability in electric energy congestion charges due to transmission grid limitations.

Outstanding Derivative Balances

At December 31, 2015, the Utility’s outstanding derivative balances were as follows:

	Commodity Risk
	Gross Derivative									Total Derivative
(in millions)	Balance			Netting			Cash Collateral			Balance
Current assets – other	$	97	$		(4)	$		25	$		118
Other noncurrent assets – other		172			(2)			-			170
Current liabilities – other		(102)			4			44			(54)
Noncurrent liabilities – other		(140)			2			21			(117)
Total commodity risk	$	27	$		-	$		90	$		117

At December 31, 2014, the Utility’s outstanding derivative balances were as follows:

	Commodity Risk
	Gross Derivative									Total Derivative
(in millions)	Balance			Netting			Cash Collateral			Balance
Current assets – other	$	73	$		(4)	$		19	$		88
Other noncurrent assets – other		178			(13)			-			165
Current liabilities – other		(78)			4			26			(48)
Noncurrent liabilities – other		(140)			13			9			(118)
Total commodity risk	$	33	$		-	$		54	$		87

Gains And Losses On Derivative Instruments

	Commodity Risk
	For the year ended December 31,
(in millions)	2015		2014		2013
Unrealized gain/(loss) - regulatory assets and liabilities (1)	$	(6)	$	124	$	238
Realized loss - cost of electricity (2)		(14)		(83)		(178)
Realized loss - cost of natural gas (2)		(10)		(8)		(22)
Total commodity risk	$	(30)	$	33	$	38

(1) Unrealized gains and losses on commodity risk-related derivative instruments are recorded to regulatory liabilities or assets, respectively, rather than being recorded to the Consolidated Statements of Income.  These amounts exclude the impact of cash collateral postings.

(2) These amounts are fully passed through to customers in rates.  Accordingly, net income was not impacted by realized amounts on these instruments.

Additional Cash Collateral The Utility Would Be Required To Post If Its Credit Risk-Related Contingency Features Were Triggered

	Balance at December 31,
(in millions)	2015		2014
Derivatives in a liability position with credit risk-related
contingencies that are not fully collateralized	$	(2)	$	(47)
Related derivatives in an asset position		-		-
Collateral posting in the normal course of business related to
these derivatives		-		44
Net position of derivative contracts/additional collateral
posting requirements (1)	$	(2)	$	(3)

(1) This calculation excludes the impact of closed but unpaid positions, as their settlement is not impacted by any of the Utility’s credit risk-related contingencies.