Price Risk Management (Tables)

12 Months Ended

Dec. 31, 2014

Price Risk Management [Abstract]

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

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

	As of December 31,
	2014			2013
Current assets:
Commodity contracts:
Electricity	$	4		$	9
Natural gas	2			4
Total current derivative assets	6		(1)	13		(1)
Noncurrent assets:
Commodity contracts:
Electricity	1			1
Total noncurrent derivative assets	1		(2)	1		(2)
Total derivative assets not designated as hedging instruments	$	7		$	14
Total derivative assets	$	7		$	14
Current liabilities:
Commodity contracts:
Electricity	$	54		$	20
Natural gas	52			29
Total current derivative liabilities	106			49
Noncurrent liabilities:
Commodity contracts:
Electricity	58			107
Natural gas	64			34
Total noncurrent derivative liabilities	122			141
Total derivative liabilities not designated as hedging instruments	$	228		$	190
Total derivative liabilities	$	228		$	190

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

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

Schedule of Derivative Instruments [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 2035, were as follows (in millions): 

	As of December 31,
	2014			2013
Commodity contracts:
Electricity	16		MWh	14		MWh
Natural gas	127		Dth	106		Dth
Foreign currency exchange	$	7	Canadian	$	7	Canadian

Price risk management assets and liabilties subject to master netting agreements [Table Text Block]

price risk management liabilities subject to master netting agreements is as follows (in millions):

	Gross		Gross		Net		Gross Amounts Not Offset in
	Amounts		Amounts		Amounts		Consolidated Balance Sheets
	Recognized		Offset		Presented		Derivatives			Cash Collateral(1)		Net Amount
As of December 31, 2014:
Liabilities:
Commodity contracts:
Electricity(2)	$	55	$	—	$	55	$	(55	)	$	—	$	—
Natural gas(2)	17		—		17		(17		)	—		—
	$	72	$	—	$	72	$	(72	)	$	—	$	—
As of December 31, 2013:
Liabilities:
Commodity contracts:
Electricity(2)	$	91	$	—	$	91	$	(91	)	$	—	$	—
Natural gas(2)	1		—		1		(1		)	—		—
	$	92	$	—	$	92	$	(92	)	$	—	$	—

(1) As of December 31, 2014 and 2013, the Company had collateral posted of $11 million and $7 million, respectively, which consists entirely of letters of credit.

(2) Included in Liabilities from price risk management activities—current and Liabilities from price risk management activities—noncurrent.

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,
	2014		2013		2012
Commodity contracts:
Electricity	$	13	$	78	$	56
Natural Gas	72		28		19
Foreign currency exchange	—		1		—

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, 2014, 2013, and 2012, $83 million, $120 million, and $42 million, respectively, have been offset.

Schedule of Price Risk Derivatives [Table Text Block]

Assuming no changes in market prices and interest rates, the following table presents the year in which the net unrealized loss recorded as of December 31, 2014 related to PGE’s derivative activities would be realized as a result of the settlement of the underlying derivative instrument (in millions):

	2015		2016		2017		2018		2019		Thereafter		Total
Commodity contracts:
Electricity	$	50	$	19	$	6	$	5	$	5	$	22	$	107
Natural gas	49		44		18		3		—		—		114
Net unrealized loss	$	99	$	63	$	24	$	8	$	5	$	22	$	221

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,
	2014		2013
Assets from price risk management activities:
Counterparty A	63	%	53	%
Counterparty B	14		6
	77	%	59	%
Liabilities from price risk management activities:
Counterparty C	22	%	43	%
Counterparty D	12		11
	34	%	54	%