Derivative Instruments And Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2011

Fair Value Of Derivative Instruments By Balance Sheet Location

	As of September 30, 2011
Balance Sheet Caption	Derivatives Designated as Hedging Instruments (a)			Other Derivative Instruments (a)			Gross Derivative Instruments			Effects of Cash Collateral and Netting			Net Derivative Instruments
	(millions of dollars)
Derivative Assets (current assets)	$	22		$	20		$	42		$	(27	)	$	15
Derivative Assets (non-current assets)		—			2			2			(2	)		—
Total Derivative Assets		22			22			44			(29	)		15
Derivative Liabilities (current liabilities)		(72	)		(44	)		(116	)		83			(33	)
Derivative Liabilities (non-current liabilities)		(18	)		(11	)		(29	)		21			(8	)
Total Derivative Liabilities		(90	)		(55	)		(145	)		104			(41	)
Net Derivative (Liability) Asset	$	(68	)	$	(33	)	$	(101	)	$	75		$	(26	)

(a) Amounts included in Derivatives Designated as Hedging Instruments primarily consist of natural gas derivatives that were designated as cash flow hedges prior to the January 1, 2011 election to discontinue cash flow hedge accounting for these derivatives. Amounts included in Other Derivative Instruments primarily consist of gains or losses on natural gas derivatives that are not accounted for as cash flow hedges after the January 1, 2011 election to discontinue cash flow hedge accounting.

	As of December 31, 2010
Balance Sheet Caption	Derivatives Designated as Hedging Instruments			Other Derivative Instruments			Gross Derivative Instruments			Effects of Cash Collateral and Netting			Net Derivative Instruments
	(millions of dollars)
Derivative Assets (current assets)	$	40		$	43		$	83		$	(38	)	$	45
Derivative Assets (non-current assets)		16			3			19			(19	)		—
Total Derivative Assets		56			46			102			(57	)		45
Derivative Liabilities (current liabilities)		(125	)		(63	)		(188	)		122			(66	)
Derivative Liabilities (non-current liabilities)		(68	)		(10	)		(78	)		57			(21	)
Total Derivative Liabilities		(193	)		(73	)		(266	)		179			(87	)
Net Derivative (Liability) Asset	$	(137	)	$	(27	)	$	(164	)	$	122		$	(42	)

Schedule Of Cash Collateral Offset Against Derivative Positions

	September 30, 2011		December 31, 2010
	(millions of dollars)
Cash collateral pledged to counterparties with the right to reclaim (a)	$	75	$	122

(a) Includes cash deposits on commodity brokerage accounts

Outstanding Energy Commodity Contracts Employed As Cash Flow Hedges

	Quantities
Commodity	September 30, 2011		December 31, 2010
Forecasted Purchases Hedges
Natural gas (One Million British Thermal Units (MMBtu))		—		8,597,106
Electricity (Megawatt hours (MWh))		1,879,840		2,677,640
Electricity Capacity (MW-Days)		—		34,730
Forecasted Sales Hedges
Electricity (MWh)		991,840		2,517,200

Net Unrealized Derivative Gain (Loss) Deferred As A Regulatory Asset Or Liability

	Three Months Ended September 30,						Nine Months Ended September 30,
	2011			2010			2011			2010
	(millions of dollars)
Net Unrealized Losses arising during the period included in Regulatory Assets	$	(1	)	$	(3	)	$	(1	)	$	(9	)
Net Realized Losses Recognized in Fuel and Purchased Energy Expense		(2	)		(4	)		(5	)		(10	)

Cash Flow Hedges Included In Accumulated Other Comprehensive Loss

	As of September 30, 2011
Contracts	Accumulated Other Comprehensive  Loss After-tax (a)		Portion Expected to be Reclassified to Income during the Next 12 Months		Maximum Term
	(millions of dollars)
Energy Commodity (b)	$	40	$	28		32 months
Interest Rate		10		1		251 months
Total	$	50	$	29

(a) AOCL on PHI's Consolidated Balance Sheet as of September 30, 2011, includes a $21 million balance related to minimum pension liability. This balance is not included in this table as the minimum pension liability is not a cash flow hedge.

(b) The unrealized energy commodity derivative losses recorded in AOCL are largely offset by forecasted natural gas and electricity physical purchases for delivery to retail customers that are in gain positions and subject to accrual accounting. These forward purchase contracts are exempted from mark-to-market accounting because they either qualify as normal purchases under FASB guidance on derivatives and hedging or they are not derivative contracts. Under accrual accounting, no asset is recorded on the balance sheet for these contracts, and the purchase cost is not recognized until the period of distribution.

	As of September 30, 2010
Contracts	Accumulated Other Comprehensive Loss After-tax (a)		Portion Expected to be Reclassified to Income during the Next 12 Months		Maximum Term
	(millions of dollars)
Energy Commodity (b)	$	102	$	63		44 months
Interest Rate		11		1		263 months
Total	$	113	$	64

(a) AOCL on PHI's Consolidated Balance Sheet as of September 30, 2010, includes a $15 million balance related to minimum pension liability and a $20 million balance related to Conectiv Energy. These balances are not included in this table as the minimum pension liability is not a cash flow hedge and Conectiv Energy is reported as a discontinued operation.

(b) The unrealized derivative losses recorded in AOCL are largely offset by forecasted natural gas and electricity physical purchases for delivery to retail customers that are in gain positions and subject to accrual accounting. These forward purchase contracts are exempted from mark-to-market accounting because they either qualify as normal purchases under FASB guidance on derivatives and hedging or they are not derivative contracts. Under accrual accounting, no asset is recorded on the balance sheet for these contracts, and the purchase cost is not recognized until the period of distribution.

Pepco Energy Services [Member]

Outstanding Energy Commodity Contracts Employed As Cash Flow Hedges

	September 30, 2011				December 31, 2010
Commodity	Quantity		Net Position		Quantity		Net Position
Financial transmission rights (MWh)		432,399		Long		381,215		Long
Electric Capacity (MW—Days)		20,740		Long		2,265		Long
Electric (MWh)		814,776		Long		1,455,800		Long
Natural gas (MMBtu)		33,695,858		Long		45,889,486		Long

Schedule Of Derivative Gain (Loss) Amounts Recognized In Income

	Three Months Ended September 30, 2011								Three Months Ended September 30, 2010
	Revenue			Fuel and Purchased Energy Expense		Total			Revenue		Fuel and Purchased Energy Expense		Total
	(millions of dollars)
Realized mark-to-market gains	$	1		$	—	$	1		$	1	$	—	$	1
Unrealized mark-to-market losses		(5	)		—		(5	)		—		—		—
Total net mark-to-market (losses) gains	$	(4	)	$	—	$	(4	)	$	1	$	—	$	1

	Nine Months Ended September 30, 2011								Nine Months Ended September 30, 2010
	Revenue			Fuel and Purchased Energy Expense		Total			Revenue		Fuel and Purchased Energy Expense		Total
	(millions of dollars)
Realized mark-to-market (losses) gains	$	(1	)	$	—	$	(1	)	$	2	$	—	$	2
Unrealized mark-to-market losses		(10	)		—		(10	)		—		—		—
Total net mark-to-market (losses) gains	$	(11	)	$	—	$	(11	)	$	2	$	—	$	2

Delmarva Power & Light Co/De [Member]

Outstanding Energy Commodity Contracts Employed As Cash Flow Hedges

	Quantities
Commodity	September 30, 2011		December 31, 2010
Forecasted Purchases Hedges
Natural Gas (MMBtu)		942,500		1,670,000

Net Unrealized Derivative Gain (Loss) Deferred As A Regulatory Asset Or Liability

	Three Months  Ended September 30,						Nine Months  Ended September 30,
	2011			2010			2011			2010
	(millions of dollars)
Net Unrealized Losses arising during the period included in Regulatory Assets	$	(4	)	$	(9	)	$	(6	)	$	(21	)
Net Realized Losses Recognized in Fuel and Purchased Energy Expense		(3	)		(5	)		(14	)		(18	)

Net Outstanding Commodity Forward Contracts That Don't Qualify For Hedge Accounting

	September 30, 2011				December 31, 2010
Commodity	Quantity		Net Position		Quantity		Net Position
Natural Gas (MMBtu)		5,433,500		Long		7,827,635		Long