Price Risk Management (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Price Risk Derivatives [Table Text Block]

PGE’s net volumes related to its Assets and Liabilities from price risk management activities resulting from its derivative transactions, which are expected to deliver or settle at various dates through 2016, were as follows (in millions):



	As of December 31,
	2012			2011
Commodity contracts:
Electricity	11		MWh	13		MWh
Natural gas	86		Decatherms	79		Decatherms
Foreign currency exchange	$	7	Canadian	$	6	Canadian

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The fair values of PGE’s Assets and Liabilities from price risk management activities consist of the following (in millions):



	As of December 31,
	2012			2011
Current assets:
Commodity contracts:
Electricity	$	1		$	2
Natural gas	3			17
Total current derivative assets	4		⁽¹⁾	19		⁽¹⁾
Noncurrent assets:
Commodity contracts:
Natural gas	2		⁽²⁾	—
Total derivative assets not designated as hedging instruments	$	6		$	19
Total derivative assets	$	6		$	19
Current liabilities:
Commodity contracts:
Electricity	$	44		$	66
Natural gas	83			150
Total current derivative liabilities	127			216
Noncurrent liabilities:
Commodity contracts:
Electricity	38			71
Natural gas	35			101
Total noncurrent derivative liabilities	73			172
Total derivative liabilities not designated as hedging instruments	$	200		$	388
Total derivative liabilities	$	200		$	388


(1)	Included in Other current assets on the consolidated balance sheets.


(2)	Included in Other noncurrent assets on the consolidated balance sheet.

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

Net realized and unrealized losses on derivative transactions not designated as hedging instruments are classified in Purchased power and fuel in the consolidated statements of income and were as follows (in millions):



	Years Ended December 31,
	2012		2011		2010
Commodity contracts:
Electricity	$	56	$	117	$	127
Natural Gas	19		98		192

Net unrealized losses and certain net realized losses presented in the table above are offset within the statement of income by the effects of regulatory accounting. Of the net loss recognized in net income for the years ended December 31, 2012, 2011, and 2010, $42 million, $192 million, and $258 million, respectively, have been offset.

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

Assuming no changes in market prices and interest rates, the following table indicates the year in which the net unrealized loss recorded as of December 31, 2012 related to PGE’s derivative activities would be realized as a result of the settlement of the underlying derivative instrument (in millions):



	2013		2014		2015		Total
Commodity contracts:
Electricity	$	43	$	28	$	10	$	81
Natural gas	80		27		6		113
Net unrealized loss	$	123	$	55	$	16	$	194

Schedule of Concentration of Risk, by Counterparty [Table Text Block]

Counterparties representing 10% or more of Assets and Liabilities from price risk management activities were as follows:



	As of December 31,
	2012		2011
Assets from price risk management activities:
Counterparty A	21	%	19	%
Counterparty B	13		2
Counterparty C	11		16
Counterparty D	10		9
Counterparty E	6		13
	61	%	59	%
Liabilities from price risk management activities:
Counterparty F	24	%	23	%
Counterparty G	14		10
Counterparty H	10		6
	48	%	39	%

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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