Derivative Accounting (Tables)

3 Months Ended

Mar. 31, 2013

Outstanding gross notional amount of derivatives, which represents both purchases and sales (does not reflect net position)

As of March 31, 2013, we had the following outstanding gross notional volume of derivatives, which represent both purchases and sales (does not reflect net position):

Commodity	Quantity
Power	7,628	gigawatt hours
Gas	127	Bcfs (a)

(a) “Bcf” is Billion Cubic Feet.

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 (dollars in thousands):

	Financial Statement	Three Months Ended March 31,
Commodity Contracts	Location	2013			2012
Gain (Loss) Recognized in OCI on Derivative Instruments (Effective Portion)	Other comprehensive income (loss) - derivative instruments	$	96		$	(41,903	)
Loss Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion Realized) (a)	Fuel and purchased power (b)	(8,353		)	(14,500		)
Gain Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Fuel and purchased power (b)	—			85

(a) During the three months ended March 31, 2013 and 2012, we had no amounts reclassified from AOCI to earnings related to discontinued cash flow hedges.

(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 months ended March 31, 2013 and 2012 (dollars in thousands):

		Three Months Ended March 31,
Commodity Contracts	Financial Statement Location	2013			2012

Net Loss Recognized in Income	Operating revenues (a)	$	(117	)	$	(326	)

Net Gain (Loss) Recognized in Income	Fuel and purchased power expense (a)	17,350			(25,052		)
Total		$	17,233		$	(25,378	)

(a) Amounts are before the effect of PSA deferrals.

Schedule of the entity's fair value of risk management activities reported on a gross basis and the impacts of offsetting

As of March 31, 2013: (dollars in thousands)	Gross Recognized Derivatives (a)			Amounts Offset (b)			Net Recognized Derivatives			Other (c)			Amount Reported on Balance Sheet
Current Assets	$	38,623		$	(18,344	)	$	20,279		$	67		$	20,346
Investments and Other Assets	39,467			(5,420		)	34,047			—			34,047
Total Assets	78,090			(23,764		)	54,326			67			54,393

Current Liabilities	(78,412		)	38,521			(39,891		)	(25,463		)	(65,354		)
Deferred Credits and Other	(93,215		)	10,339			(82,876		)	—			(82,876		)
Total Liabilities	(171,627		)	48,860			(122,767		)	(25,463		)	(148,230		)
Total	$	(93,537	)	$	25,096		$	(68,441	)	$	(25,396	)	$	(93,837	)

(a) All of our gross recognized derivative instruments were subject to master netting arrangements.

(b) Includes cash collateral provided to counterparties of $25,096.

(c) Other represents cash collateral and margin relating to non-derivative instruments or derivatives qualifying for scope exceptions. Includes cash collateral received from counterparties of $25,463, and cash margin provided to counterparties of $67. This amount is not subject to offsetting.

As of December 31, 2012: (dollars in thousands)	Gross Recognized Derivatives (a)			Amounts Offset (b)			Net Recognized Derivatives			Other (c)			Amount Reported on Balance Sheet
Current Assets	$	42,495		$	(17,797	)	$	24,698		$	1,001		$	25,699
Investments and Other Assets	41,563			(5,672		)	35,891			—			35,891
Total Assets	84,058			(23,469		)	60,589			1,001			61,590

Current Liabilities	(105,324		)	57,046			(48,278		)	(25,463		)	(73,741		)
Deferred Credits and Other	(100,986		)	15,722			(85,264		)	—			(85,264		)
Total Liabilities	(206,310		)	72,768			(133,542		)	(25,463		)	(159,005		)
Total	$	(122,252	)	$	49,299		$	(72,953	)	$	(24,462	)	$	(97,415	)

(a) All of our gross recognized derivative instruments were subject to master netting arrangements.

(b) Includes cash collateral provided to counterparties of $49,299.

(c) Other represents cash collateral relating to non-derivative instruments or derivatives qualifying for scope exceptions. Includes cash collateral provided to counterparties of $1,001, and cash collateral received from counterparties of $25,463. This amount is not subject to offsetting.

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 March 31, 2013 (dollars in millions):

	March 31, 2013
Aggregate Fair Value of Derivative Instruments in a Net Liability Position	$	172
Cash Collateral Posted	25
Additional Cash Collateral in the Event Credit-Risk Related Contingent Features were Fully Triggered (a)	106

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

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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