Derivative Accounting (Tables)

12 Months Ended

Dec. 31, 2012

Derivative Accounting

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

As of December 31, 2012, we had the following outstanding gross notional volume of derivatives, which represent both purchases and sales (does not reflect net position):

Commodity	Quantity
Power	8,045	gigawatt hours
Gas	139	Bcfs (a)

(a) “Bcf” is Billion Cubic Feet.

Gains and losses from derivative instruments in designated accounting hedges relationships

The following table provides information about gains and losses from derivative instruments in designated cash flow accounting hedging relationships during the years ended December 31, 2012, 2011 and 2010 (dollars in thousands):

	Financial Statement	Year Ended December 31,
Commodity Contracts	Location	2012			2011			2010
Loss Recognized in OCI on Derivative Instruments (Effective Portion)	Other comprehensive loss — derivative instruments	$	(37,663	)	$	(94,660	)	$	(155,287	)
Loss Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion Realized) (a)	Fuel and purchased power	(99,007		)	(117,189		)	(122,740		)
Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Fuel and purchased power	117			(211		)	3,680

(a) During the year ended December 31, 2012, we had $1.8 million of losses reclassified from accumulated other comprehensive income to earnings related to discontinued cash flow hedges.  There were no amounts reclassified in the 2011 and 2010 periods related to discontinued cash flow hedges.

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 years ended December 31, 2012, 2011 and 2010 (dollars in thousands):

	Financial Statement	Year Ended December 31,
Commodity Contracts	Location	2012			2011			2010
Net Gain (Loss) Recognized in Income	Operating revenues	$	103		$	(27	)	$	1,436
Net Loss Recognized in Income	Fuel and purchased power	(2,747		)	(52,113		)	(107,690		)
Total		$	(2,644	)	$	(52,140	)	$	(106,254	)

Fair value of derivative instruments, margin account and cash collateral reported on a gross basis

Amounts are as of December 31, 2012 (dollars in thousands):

Commodity Contracts	Designated as Hedging Instruments			Not Designated as Hedging Instruments			Margin and Collateral Provided to Counterparties		Collateral Provided from Counterparties (a)			Other (b)			Total
Current Assets	$	—		$	42,495		$	61	$	—		$	(16,857	)	$	25,699
Investments and Other Assets	—			41,563			—		—			(5,672		)	35,891
Total Assets	—			84,058			61		—			(22,529		)	61,590
Current Liabilities	(1,147		)	(104,177		)	39,249		(25,463		)	17,797			(73,741		)
Deferred Credits and Other	(4,332		)	(96,654		)	10,051		—			5,671			(85,264		)
Total Liabilities	(5,479		)	(200,831		)	49,300		(25,463		)	23,468			(159,005		)
Total	$	(5,479	)	$	(116,773	)	$	49,361	$	(25,463	)	$	939		$	(97,415	)

(a) Collateral relates to non-derivative instruments or derivative instruments that qualify for a scope exception.

(b) Other represents derivative instrument netting, option premiums, and other risk management contracts.

The following table provides information about the fair value of our risk management activities reported on a gross basis at December 31, 2011 (dollars in thousands):

Commodity Contracts	Designated as Hedging Instruments			Not Designated as Hedging Instruments			Margin and Collateral Provided to Counterparties		Collateral Provided from Counterparties (a)			Other (b)			Total
Current Assets	$	7,287		$	76,162		$	1,630	$	—		$	(54,815	)	$	30,264
Investments and Other Assets	3,804			58,273			—		—			(12,755		)	49,322
Total Assets	11,091			134,435			1,630		—			(67,570		)	79,586
Current Liabilities	(82,195		)	(124,028		)	107,228		(11,145		)	56,172			(53,968		)
Deferred Credits and Other	(68,137		)	(92,880		)	65,768		—			12,754			(82,495		)
Total Liabilities	(150,332		)	(216,908		)	172,996		(11,145		)	68,926			(136,463		)
Total Derivative Instruments	$	(139,241	)	$	(82,473	)	$	174,626	$	(11,145	)	$	1,356		$	(56,877	)

(a) Collateral relates to non-derivative instruments or derivative instruments that qualify for a scope exception.

(b) Other represents derivative instrument netting, option premiums, and other risk management contracts.

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 December 31, 2012 (dollars in millions):

	December 31, 2012
Aggregate Fair Value of Derivative Instruments in a Net Liability Position	$	206
Cash Collateral Posted	49
Additional Cash Collateral in the Event Credit-Risk Related Contingent Features were Fully Triggered (a)	120

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