Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Volumetric Underlying Derivative Transactions

The following table summarizes the net notional volumes of our open derivative financial instruments accounted for at fair value by commodity. Positive amounts represent net buys while bracketed amounts are net sell transactions (in thousands):

Non-trading 

Commodity	Notional	March 31, 2022	December 31, 2021
Natural Gas	MMBtu	3,807	3,862
Electricity	MWh	1,893	1,785

Trading

Commodity	Notional	March 31, 2022	December 31, 2021
Natural Gas	MMBtu	1,437	1,536

Schedule of Gains (Losses) on Derivative Instruments

Gains (losses) on derivative instruments, net and current period settlements on derivative instruments were as follows for the periods indicated (in thousands):

	Three Months Ended March 31,
	2022		2021
Gain on non-trading derivatives, net	$	43,916	$	7,054
Gain (loss) on trading derivatives, net	1,147		(30)
Gain on derivatives, net	45,063		7,024
Current period settlements on non-trading derivatives	$	(13,320)	$	(1,189)
Current period settlements on trading derivatives	184		4
Total current period settlements on derivatives	$	(13,136)	$	(1,185)

Schedule of Offsetting Assets

The following tables summarize the fair value and offsetting amounts of our derivative instruments by counterparty and collateral received or paid (in thousands):

	March 31, 2022
Description	Gross Assets		Gross Amounts Offset		Net Assets		Cash Collateral Offset		Net Amount Presented
Non-trading commodity derivatives	$	43,219	$	(12,623)	$	30,596	$	(3,243)	$	27,353
Trading commodity derivatives	1,180		(622)		558		—		558
Total Current Derivative Assets	44,399		(13,245)		31,154		(3,243)		27,911
Non-trading commodity derivatives	1,347		(195)		1,152		—		1,152
Trading commodity derivatives	25		—		25		—		25
Total Non-current Derivative Assets	1,372		(195)		1,177		—		1,177
Total Derivative Assets	$	45,771	$	(13,440)	$	32,331	$	(3,243)	$	29,088

	December 31, 2021
Description	Gross Assets		Gross Amounts Offset		Net Assets		Cash Collateral Offset		Net Amount Presented
Non-trading commodity derivatives	$	7,121	$	(3,319)	$	3,802	$	—	$	3,802
Trading commodity derivatives	143		(15)		128		—		128
Total Current Derivative Assets	7,264		(3,334)		3,930		—		3,930
Non-trading commodity derivatives	411		(71)		340		—		340
Trading commodity derivatives	—		—		—		—		—
Total Non-current Derivative Assets	411		(71)		340		—		340
Total Derivative Assets	$	7,675	$	(3,405)	$	4,270	$	—	$	4,270

Schedule of Offsetting Liabilities

Description	Gross  Liabilities		Gross Amounts Offset		Net Liabilities		Cash Collateral Offset		Net Amount Presented
Non-trading commodity derivatives	$	—	$	—	$	—	$	—	$	—
Trading commodity derivatives	(87)		1		(86)		—		(86)
Total Current Derivative Liabilities	(87)		1		(86)		—		(86)
Non-trading commodity derivatives	(1,420)		534		(885)		—		(885)
Trading commodity derivatives	—		—		—		—		—
Total Non-current Derivative Liabilities	(1,420)		534		(885)		—		(885)
Total Derivative Liabilities	$	(1,507)	$	535	$	(971)	$	—	$	(971)

Description	Gross  Liabilities		Gross Amounts Offset		Net Liabilities		Cash Collateral Offset		Net Amount Presented
Non-trading commodity derivatives	$	(18,195)	$	14,504	$	(3,691)	$	491	$	(3,200)
Trading commodity derivatives	(1,403)		445		(958)		—		(958)
Total Current Derivative Liabilities	(19,598)		14,949		(4,649)		491		(4,158)
Non-trading commodity derivatives	(236)		200		(36)		—		(36)
Trading commodity derivatives	—		—		—		—		—
Total Non-current Derivative Liabilities	(236)		200		(36)		—		(36)
Total Derivative Liabilities	$	(19,834)	$	15,149	$	(4,685)	$	491	$	(4,194)