Price Risk Management (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2022		2021
Current assets:
Commodity contracts:
Electricity	$	112	$	16
Natural gas	201		86
Total current derivative assets(1)	313		102
Noncurrent assets:
Commodity contracts:
Electricity	44		1
Natural gas	30		34
Total noncurrent derivative assets(1)	74		35
Total derivative assets(2)	$	387	$	137
Current liabilities:
Commodity contracts:
Electricity	$	93	$	36
Natural gas	25		11
Total current derivative liabilities	118		47
Noncurrent liabilities:
Commodity contracts:
Electricity	53		87
Natural gas	22		3
Total noncurrent derivative liabilities	75		90
Total derivative liabilities(2)	$	193	$	137

(1)Total current derivative assets is included in Other current assets, and Total noncurrent derivative assets is included in Other noncurrent assets on the consolidated balance sheets.

(2)As of December 31, 2022 and 2021, no commodity derivative assets or liabilities were designated as hedging instruments.

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,
	2022			2021
Commodity contracts:
Electricity	6		MWh	4		MWh
Natural gas	211		Dth	181		Dth
Foreign currency contracts	$	10	Canadian	$	19	Canadian

Derivatives Not Designated as Hedging Instruments [Table Text Block]

Net realized and unrealized losses (gains) 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,
	2022		2021		2020
Commodity contracts:
Electricity	$	(187)	$	(38)	$	160
Natural Gas	(388)		(177)		(34)
Foreign currency contracts	1		—		(1)

Net unrealized and certain net realized losses (gains) presented in the table above are offset within the consolidated statements of income by the effects of regulatory accounting. Of the net amounts recognized in Net income, net gains of $188 million, net gains of $119 million, and net losses of $12 million for the years ended December 31, 2022, 2021, and 2020, 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 years in which the net unrealized (gains)/losses recorded as of December 31, 2022 related to PGE’s derivative activities would become realized as a result of the settlement of the underlying derivative instrument (in millions):

	2023		2024		2025		2026		2027		Thereafter		Total
Commodity contracts:
Electricity	$	(19)	$	10	$	21	$	(3)	$	(3)	$	(16)	$	(10)
Natural gas	(177)		(8)		(2)		3		—		—		(184)
Net unrealized (gain)/loss	$	(196)	$	2	$	19	$	—	$	(3)	$	(16)	$	(194)