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Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Values of open positions for derivative instruments [Table Text Block]
The gross notional contract amount and recorded fair values of open positions for derivative instruments are summarized in the following table.  The fair values of these derivatives are recorded on the consolidated balance sheets.  The fair values below are gross values before netting agreements and netting of cash collateral.
 
March 31
 
December 31
 
2016
 
2015
 
Notional
Contract
Amount
 
Fair
Value
 
Notional
Contract
Amount
 
Fair
Value
Great Plains Energy
(millions)
Non-hedging derivatives
 
 
 
 
 
 
 
Futures contracts
$
30.9

 
$
(5.3
)
 
$
26.6

 
$
(5.7
)
Forward contracts
13.2

 
2.9

 
15.6

 
3.1

Transmission congestion rights
2.3

 
(0.2
)
 
5.6

 
(0.5
)
KCP&L
 

 
 

 
 

 
 

Non-hedging derivatives
 

 
 

 
 

 
 

Futures contracts
$
1.5

 
$
(0.2
)
 
$
0.9

 
$
(0.1
)
Transmission congestion rights
1.7

 
(0.1
)
 
4.1

 
(0.4
)
Fair value of open derivative positions, gross values before netting agreements and netting of cash collatral [Table Text Block]
The fair values of Great Plains Energy's and KCP&L's open derivative positions and balance sheet classification are summarized in the following tables. The fair values below are gross values before netting agreements and netting of cash collateral.
Great Plains Energy
 
 
 
 
 
 
 
 
 
 
Balance Sheet
 
Asset Derivatives
 
Liability Derivatives
March 31, 2016
Classification
 
Fair Value
 
Fair Value
Derivatives Not Designated as Hedging Instruments
 
 
 
(millions)
 
Commodity contracts
Other
 
 
$
3.4

 
 
 
$
6.0

 
 
 
 
 
 
 
 
 
 
 
December 31, 2015
 
 
 
 

 
 
 
 

 
Derivatives Not Designated as Hedging Instruments
 
 
 
 

 
 
 
 

 
Commodity contracts
Other
 
 
$
3.3

 
 
 
$
6.4

 
KCP&L
 
 
 
 
 
 
 
 
 
 
Balance Sheet
 
Asset Derivatives
 
Liability Derivatives
March 31, 2016
Classification
 
Fair Value
 
Fair Value
Derivatives Not Designated as Hedging Instruments
 
 
 
(millions)
 
Commodity contracts
Other
 
 
$
0.2

 
 
 
$
0.5

 
 
 
 
 
 
 
 
 
 
 
December 31, 2015
 
 
 
 

 
 
 
 

 
Derivatives Not Designated as Hedging Instruments
 
 
 
 

 
 
 
 

 
Commodity contracts
Other
 
 
$
0.2

 
 
 
$
0.7

 
Offsetting Derivative Assets and Liabilities [Table Text Block]
The following tables provide information regarding Great Plains Energy's and KCP&L's offsetting of derivative assets and liabilities.
Great Plains Energy
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Statement of Financial Position
 
 
 
 
Description
Gross Amounts Recognized
 
Gross Amounts Offset in the Statement of Financial Position
 
Net Amounts Presented in the Statement of Financial Position
 
Financial Instruments
 
Cash Collateral
 
Net Amount
March 31, 2016
(millions)
Derivative assets
 
$
3.4

 
 
 
$
(0.5
)
 
 
 
$
2.9

 
 
 
$

 
 
 
$

 
 
 
$
2.9

 
Derivative liabilities
 
6.0

 
 
 
(5.8
)
 
 
 
0.2

 
 
 

 
 
 

 
 
 
0.2

 
December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
 
$
3.3

 
 
 
$
(0.2
)
 
 
 
$
3.1

 
 
 
$

 
 
 
$

 
 
 
$
3.1

 
Derivative liabilities
 
6.4

 
 
 
(5.9
)
 
 
 
0.5

 
 
 

 
 
 

 
 
 
0.5

 
KCP&L
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the Statement of Financial Position
 
 
 
 
Description
Gross Amounts Recognized
 
Gross Amounts Offset in the Statement of Financial Position
 
Net Amounts Presented in the Statement of Financial Position
 
Financial Instruments
 
Cash Collateral
 
Net Amount
March 31, 2016
(millions)
Derivative assets
 
$
0.2

 
 
 
$
(0.2
)
 
 
 
$

 
 
 
$

 
 
 
$

 
 
 
$

 
Derivative liabilities
 
0.5

 
 
 
(0.4
)
 
 
 
0.1

 
 
 

 
 
 

 
 
 
0.1

 
December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
 
$
0.2

 
 
 
$
(0.2
)
 
 
 
$

 
 
 
$

 
 
 
$

 
 
 
$

 
Derivative liabilities
 
0.7

 
 
 
(0.3
)
 
 
 
0.4

 
 
 

 
 
 

 
 
 
0.4

 
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following tables summarize the amounts of gain (loss) recognized for the change in fair value of commodity contract derivatives not designated as hedging instruments for Great Plains Energy and KCP&L.
Great Plains Energy
 
 
 
 
 
Derivatives Not Designated as Hedging Instruments
Three Months Ended March 31
 
2016
 
2015
Location of Loss
 
(millions)
Electric revenues
 
$
(0.4
)
 
$
(5.2
)
Fuel
 
(1.9
)
 
(0.5
)
Purchased power
 
(0.2
)
 
(0.1
)
Regulatory asset
 
(6.2
)
 
(6.3
)
Total
 
$
(8.7
)
 
$
(12.1
)

KCP&L
 
 
 
 
 
Derivatives Not Designated as Hedging Instruments
Three Months Ended March 31
 
2016
 
2015
Location of Gain (Loss)
 
(millions)
Electric revenues
 
$
(0.4
)
 
$
(5.2
)
Fuel
 
0.4

 
0.2

Regulatory asset
 
(0.2
)
 
(1.4
)
Total
 
$
(0.2
)
 
$
(6.4
)