DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Volumes of Outstanding Derivative Contracts

At December 31, 2018 and 2017, respectively, the volumes of the Utility’s outstanding derivatives were as follows:



		Contract Volume
Underlying Product	Instruments	2018	2017
Natural Gas ⁽¹⁾ (MMBtus ⁽²⁾)	Forwards and Swaps	177,750,349	228,768,745
	Options	13,735,405	60,736,806
Electricity (Megawatt-hours)	Forwards and Swaps	3,833,490	2,872,013
	Congestion Revenue Rights ⁽³⁾	340,783,089	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.

Outstanding Derivative Balances

At December 31, 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	$	44		$	(1	)	$	89	$	132
Other noncurrent assets – other	165			—			—		165
Current liabilities – other	(29		)	1			7		(21		)
Noncurrent liabilities – other	(90		)	—			2		(88		)
Total commodity risk	$	90		$	—		$	98	$	188

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