Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table presents the absolute notional amounts related to open positions on NW Natural derivative instruments:

	At December 31,
In thousands	2023		2022
Natural gas (in therms):
Financial	948,425		852,435
Physical	571,610		463,254
Foreign exchange	$	11,926	$	7,617

Income Statement Presentation of Derivative Instruments

The following table reflects the income statement presentation for the unrealized gains and losses from NW Natural's derivative instruments:

	December 31, 2023				December 31, 2022
In thousands	Natural gas commodity		Foreign exchange		Natural gas commodity		Foreign exchange
Benefit (expense) to cost of gas	$	(131,833)	$	168	$	119,935	$	(165)
Operating revenues (expense)	—		—		—		—
Amounts deferred to regulatory accounts on balance sheet	131,833		(168)		(119,935)		165
Total gain (loss) in pre-tax earnings	$	—	$	—	$	—	$	—