DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Volumes Of Outstanding Derivative Contracts

The volumes of the Utility’s outstanding derivatives were as follows:



		Contract Volume at
Underlying Product	Instruments	September 30, 2018	December 31, 2017
Natural Gas ⁽¹⁾ (MMBtus ⁽²⁾)	Forwards, Futures and Swaps	250,021,802	228,768,745
	Options	29,534,224	60,736,806
Electricity (Megawatt-hours)	Forwards, Futures and Swaps	3,939,691	2,872,013
	Congestion Revenue Rights ⁽³⁾	316,451,690	312,272,177

⁽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.

Schedule of Offsetting Assets

At September 30, 2018, the Utility’s outstanding derivative balances were as follows:



	Commodity Risk
(in millions)	Gross Derivative Balance			Netting			Cash Collateral		Total Derivative Balance
Current assets – other	$	34		$	(2	)	$	5	$	37
Other noncurrent assets – other	88			—			—		88
Current liabilities – other	(39		)	2			12		(25		)
Noncurrent liabilities – other	(67		)	—			4		(63		)
Total commodity risk	$	16		$	—		$	21	$	37

At December 31, 2017, the Utility’s outstanding derivative balances were as follows:



	Commodity Risk
(in millions)	Gross Derivative Balance			Netting			Cash Collateral		Total Derivative Balance
Current assets – other	$	30		$	(3	)	$	10	$	37
Other noncurrent assets – other	103			(1		)	—		102
Current liabilities – other	(47		)	3			13		(31		)
Noncurrent liabilities – other	(66		)	1			8		(57		)
Total commodity risk	$	20		$	—		$	31	$	51

Schedule of Offsetting Liabilities

At September 30, 2018, the Utility’s outstanding derivative balances were as follows:



	Commodity Risk
(in millions)	Gross Derivative Balance			Netting			Cash Collateral		Total Derivative Balance
Current assets – other	$	34		$	(2	)	$	5	$	37
Other noncurrent assets – other	88			—			—		88
Current liabilities – other	(39		)	2			12		(25		)
Noncurrent liabilities – other	(67		)	—			4		(63		)
Total commodity risk	$	16		$	—		$	21	$	37

At December 31, 2017, the Utility’s outstanding derivative balances were as follows:



	Commodity Risk
(in millions)	Gross Derivative Balance			Netting			Cash Collateral		Total Derivative Balance
Current assets – other	$	30		$	(3	)	$	10	$	37
Other noncurrent assets – other	103			(1		)	—		102
Current liabilities – other	(47		)	3			13		(31		)
Noncurrent liabilities – other	(66		)	1			8		(57		)
Total commodity risk	$	20		$	—		$	31	$	51