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Derivative Accounting (Tables)
 6 Months Ended
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding gross notional amount of derivatives, which represents both purchases and sales (does not reflect net position)
As of June 30, 2018 and December 31, 2017, we had the following outstanding gross notional volume of derivatives, which represent both purchases and sales (does not reflect net position): 
 
 
 
Quantity
Commodity
 
Unit of Measure
June 30, 2018
 
December 31, 2017
Power
 
GWh
1,371

 
583

Gas
 
Billion cubic feet
232

 
240
Gains and losses from derivative instruments in designated cash flow accounting hedges relationships
The following table provides information about gains and losses from derivative instruments in designated cash flow accounting hedging relationships during the three and six months ended June 30, 2018 and 2017 (dollars in thousands):
 
 
 
Financial Statement Location
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
Commodity Contracts
 
 
2018
 
2017
 
2018
 
2017
Gain (Loss) Recognized in OCI on Derivative Instruments (Effective Portion)
 
OCI — derivative instruments
 
$
—

 
$
11

 
$
—

 
$
(84
)
Loss Reclassified from Accumulated OCI into Income (Effective Portion Realized) (a)
 
Fuel and purchased power (b)
 
(606
)
 
(912
)
 
(1,097
)
 
(1,763
)

(a)
During the three and six months ended June 30, 2018 and 2017, we had no gains or losses reclassified from accumulated OCI to earnings due to the discontinuance of cash flow hedges where the forecasted transaction is not probable of occurring.
(b)
Amounts are before the effect of PSA deferrals.
Gains and losses from derivative instruments not designated as accounting hedges instruments
The following table provides information about gains and losses from derivative instruments not designated as accounting hedging instruments during the three and six months ended June 30, 2018 and 2017 (dollars in thousands):
 
 
 
Financial Statement Location
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
Commodity Contracts
 
 
2018
 
2017
 
2018
 
2017
Net Loss Recognized in Income
 
Operating revenues
 
$
(341
)
 
$
(58
)
 
$
(1,560
)
 
$
(346
)
Net Gain (Loss) Recognized in Income
 
Fuel and purchased power (a)
 
3,384

 
(5,416
)
 
(30,705
)
 
(58,043
)
Total
 
 
 
$
3,043

 
$
(5,474
)
 
$
(32,265
)
 
$
(58,389
)

(a)
Amounts are before the effect of PSA deferrals.
Schedule of offsetting assets
The following tables provide information about the fair value of our risk management activities reported on a gross basis, and the impacts of offsetting as of June 30, 2018 and December 31, 2017.  These amounts relate to commodity contracts and are located in the assets and liabilities from risk management activities lines of our Condensed Consolidated Balance Sheets.

As of June 30, 2018:
(dollars in thousands)
 
Gross
 Recognized
 Derivatives
 (a)
 
Amounts
Offset
 (b)
 
Net
 Recognized
 Derivatives
 
Other
 (c)
 
Amount Reported on Balance Sheet
Current assets
 
$
6,916

 
$
(4,821
)
 
$
2,095

 
$
1,221

 
$
3,316

Investments and other assets
 
370

 
(370
)
 
—

 
—

 
—

Total assets
 
7,286

 
(5,191
)
 
2,095

 
1,221

 
3,316

 
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
(51,478
)
 
4,821

 
(46,657
)
 
(2,439
)
 
(49,096
)
Deferred credits and other
 
(46,717
)
 
370

 
(46,347
)
 
—

 
(46,347
)
Total liabilities
 
(98,195
)
 
5,191

 
(93,004
)
 
(2,439
)
 
(95,443
)
Total
 
$
(90,909
)
 
$
—

 
$
(90,909
)
 
$
(1,218
)
 
$
(92,127
)

(a)
All of our gross recognized derivative instruments were subject to master netting arrangements.
(b)
No cash collateral has been provided to counterparties, or received from counterparties, that is subject to offsetting.
(c)
Represents cash collateral and cash margin that are not subject to offsetting. Amounts relate to non-derivative instruments, derivatives qualifying for scope exceptions, or collateral and margin posted in excess of the recognized derivative instrument.  Amounts include cash collateral received from counterparties of $2,439 and cash margin provided to counterparties of $1,221.

As of December 31, 2017:
(dollars in thousands)
 
Gross
Recognized
Derivatives
 (a)
 
Amounts
Offset
(b)
 
Net
 Recognized
 Derivatives
 
Other
 (c)
 
Amount
Reported on
Balance Sheet
Current assets
 
$
5,427

 
$
(3,796
)
 
$
1,631

 
$
300

 
$
1,931

Investments and other assets
 
1,292

 
(1,241
)
 
51

 
—

 
51

Total assets
 
6,719

 
(5,037
)
 
1,682

 
300

 
1,982

 
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
(59,527
)
 
3,796

 
(55,731
)
 
(3,521
)
 
(59,252
)
Deferred credits and other
 
(38,411
)
 
1,241

 
(37,170
)
 
—

 
(37,170
)
Total liabilities
 
(97,938
)
 
5,037

 
(92,901
)
 
(3,521
)
 
(96,422
)
Total
 
$
(91,219
)
 
$
—

 
$
(91,219
)
 
$
(3,221
)
 
$
(94,440
)

(a)
All of our gross recognized derivative instruments were subject to master netting arrangements.
(b)
No cash collateral has been provided to counterparties, or received from counterparties, that is subject to offsetting.
(c)
Represents cash collateral and cash margin that is not subject to offsetting. Amounts relate to non-derivative instruments, derivatives qualifying for scope exceptions, or collateral and margin posted in excess of the recognized derivative instrument.  Amounts include cash collateral received from counterparties of $3,521 and cash margin provided to counterparties of $300.
Schedule of offsetting liabilities
The following tables provide information about the fair value of our risk management activities reported on a gross basis, and the impacts of offsetting as of June 30, 2018 and December 31, 2017.  These amounts relate to commodity contracts and are located in the assets and liabilities from risk management activities lines of our Condensed Consolidated Balance Sheets.

As of June 30, 2018:
(dollars in thousands)
 
Gross
 Recognized
 Derivatives
 (a)
 
Amounts
Offset
 (b)
 
Net
 Recognized
 Derivatives
 
Other
 (c)
 
Amount Reported on Balance Sheet
Current assets
 
$
6,916

 
$
(4,821
)
 
$
2,095

 
$
1,221

 
$
3,316

Investments and other assets
 
370

 
(370
)
 
—

 
—

 
—

Total assets
 
7,286

 
(5,191
)
 
2,095

 
1,221

 
3,316

 
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
(51,478
)
 
4,821

 
(46,657
)
 
(2,439
)
 
(49,096
)
Deferred credits and other
 
(46,717
)
 
370

 
(46,347
)
 
—

 
(46,347
)
Total liabilities
 
(98,195
)
 
5,191

 
(93,004
)
 
(2,439
)
 
(95,443
)
Total
 
$
(90,909
)
 
$
—

 
$
(90,909
)
 
$
(1,218
)
 
$
(92,127
)

(a)
All of our gross recognized derivative instruments were subject to master netting arrangements.
(b)
No cash collateral has been provided to counterparties, or received from counterparties, that is subject to offsetting.
(c)
Represents cash collateral and cash margin that are not subject to offsetting. Amounts relate to non-derivative instruments, derivatives qualifying for scope exceptions, or collateral and margin posted in excess of the recognized derivative instrument.  Amounts include cash collateral received from counterparties of $2,439 and cash margin provided to counterparties of $1,221.

As of December 31, 2017:
(dollars in thousands)
 
Gross
Recognized
Derivatives
 (a)
 
Amounts
Offset
(b)
 
Net
 Recognized
 Derivatives
 
Other
 (c)
 
Amount
Reported on
Balance Sheet
Current assets
 
$
5,427

 
$
(3,796
)
 
$
1,631

 
$
300

 
$
1,931

Investments and other assets
 
1,292

 
(1,241
)
 
51

 
—

 
51

Total assets
 
6,719

 
(5,037
)
 
1,682

 
300

 
1,982

 
 
 
 
 
 
 
 
 
 
 
Current liabilities
 
(59,527
)
 
3,796

 
(55,731
)
 
(3,521
)
 
(59,252
)
Deferred credits and other
 
(38,411
)
 
1,241

 
(37,170
)
 
—

 
(37,170
)
Total liabilities
 
(97,938
)
 
5,037

 
(92,901
)
 
(3,521
)
 
(96,422
)
Total
 
$
(91,219
)
 
$
—

 
$
(91,219
)
 
$
(3,221
)
 
$
(94,440
)

(a)
All of our gross recognized derivative instruments were subject to master netting arrangements.
(b)
No cash collateral has been provided to counterparties, or received from counterparties, that is subject to offsetting.
(c)
Represents cash collateral and cash margin that is not subject to offsetting. Amounts relate to non-derivative instruments, derivatives qualifying for scope exceptions, or collateral and margin posted in excess of the recognized derivative instrument.  Amounts include cash collateral received from counterparties of $3,521 and cash margin provided to counterparties of $300.
Information about derivative instruments that have credit-risk-related contingent features
The following table provides information about our derivative instruments that have credit-risk-related contingent features at June 30, 2018 (dollars in thousands):
 
June 30, 2018
Aggregate fair value of derivative instruments in a net liability position
$
98,195

Cash collateral posted
—

Additional cash collateral in the event credit-risk-related contingent features were fully triggered (a)
91,300


(a)
This amount is after counterparty netting and includes those contracts which qualify for scope exceptions, which are excluded from the derivative details above.