Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2023

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	September 30, 2023	December 31, 2022
Natural Gas	MMBtu	6,049	5,984
Electricity	MWh	1,017	1,380

Trading

Commodity	Notional	September 30, 2023	December 31, 2022
Natural Gas	MMBtu	830	957

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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
(Loss) gain on non-trading derivatives, net	$	(6,193)	$	(1,413)	$	(49,002)	$	54,570
(Loss) gain on trading derivatives, net	(798)		(232)		(1,426)		1,245
(Loss) gain on derivatives, net	(6,991)		(1,645)		(50,428)		55,815
Current period settlements on non-trading derivatives	$	14,430	$	(14,068)	$	50,699	$	(36,067)
Current period settlements on trading derivatives	670		(10)		1,068		145
Total current period settlements on derivatives	$	15,100	$	(14,078)	$	51,767	$	(35,922)

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):

	September 30, 2023
Description	Gross Assets		Gross Amounts Offset		Net Assets		Cash Collateral Offset		Net Amount Presented
Non-trading commodity derivatives	$	262	$	(98)	$	164	$	—	$	164
Trading commodity derivatives	2		—		2		—		2
Total Current Derivative Assets	264		(98)		166		—		166
Non-trading commodity derivatives	—		—		—		—		—
Total Non-current Derivative Assets	—		—		—		—		—
Total Derivative Assets	$	264	$	(98)	$	166	$	—	$	166

	December 31, 2022
Description	Gross Assets		Gross Amounts Offset		Net Assets		Cash Collateral Offset		Net Amount Presented
Non-trading commodity derivatives	$	709	$	(154)	$	555	$	—	$	555
Trading commodity derivatives	1,267		(190)		1,077		—		1,077
Total Current Derivative Assets	1,976		(344)		1,632		—		1,632
Non-trading commodity derivatives	1,364		(698)		666		—		666
Trading commodity derivatives	—		—		—		—		—
Total Non-current Derivative Assets	1,364		(698)		666		—		666
Total Derivative Assets	$	3,340	$	(1,042)	$	2,298	$	—	$	2,298

Schedule of Offsetting Liabilities

Description	Gross  Liabilities		Gross Amounts Offset		Net Liabilities		Cash Collateral Offset		Net Amount Presented
Non-trading commodity derivatives	$	(27,916)	$	12,569	$	(15,347)	$	2,363	$	(12,984)
Trading commodity derivatives	(514)		1		(513)		—		(513)
Total Current Derivative Liabilities	(28,430)		12,570		(15,860)		2,363		(13,497)
Non-trading commodity derivatives	(2,626)		991		(1,635)		184		(1,451)
Trading commodity derivatives	—		—		—		—		—
Total Non-current Derivative Liabilities	(2,626)		991		(1,635)		184		(1,451)
Total Derivative Liabilities	$	(31,056)	$	13,561	$	(17,495)	$	2,547	$	(14,948)

Description	Gross  Liabilities		Gross Amounts Offset		Net Liabilities		Cash Collateral Offset		Net Amount Presented
Non-trading commodity derivatives	$	(42,586)	$	24,969	$	(17,617)	$	2,715	$	(14,902)
Trading commodity derivatives	(1,831)		601		(1,230)		—		(1,230)
Total Current Derivative Liabilities	(44,417)		25,570		(18,847)		2,715		(16,132)
Non-trading commodity derivatives	(2,907)		192		(2,715)		—		(2,715)
Trading commodity derivatives	—		—		—		—		—
Total Non-current Derivative Liabilities	(2,907)		192		(2,715)		—		(2,715)
Total Derivative Liabilities	$	(47,324)	$	25,762	$	(21,562)	$	2,715	$	(18,847)