Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2014

Fair Values of Derivative Instruments by Balance Sheet Location

The tables below identify the balance sheet location and fair values of derivative instruments as of June 30, 2014 and December 31, 2013:

	As of June 30, 2014
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)	$	—	$	3	$	3	$	—	$	3
Total Derivative asset	$	—	$	3	$	3	$	—	$	3

	As of December 31, 2013
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)	$	—	$	1	$	1	$	(1	)	$	—
Total Derivative asset	$	—	$	1	$	1	$	(1	)	$	—

Schedule of Cash Collateral Offset Against Derivative Positions

The amount of cash collateral that was offset against these derivative positions is as follows:

	June 30, 2014		December 31, 2013
	(millions of dollars)
Cash collateral received from counterparties with the obligation to return	$	—	$	(1	)

Cash Flow Hedges Included in Accumulated Other Comprehensive Loss

The data in the following tables indicate the cumulative net loss after-tax related to terminated cash flow hedges by contract type included in AOCL, the portion of AOCL expected to be reclassified to income during the next 12 months, and the maximum hedge or deferral term:

Contracts	As of June 30, 2014				Maximum Term
	Accumulated Other Comprehensive Loss After-tax		Portion Expected to be Reclassified to Income during the Next 12 Months
	(millions of dollars)
Interest rate	$	9	$	1	218 months
Total	$	9	$	1

Contracts	As of June 30, 2013				Maximum Term
	Accumulated Other Comprehensive Loss After-tax		Portion Expected to be Reclassified to Income during the Next 12 Months
	(millions of dollars)
Interest rate	$	9	$	1	230 months
Total	$	9	$	1

Net Unrealized and Realized Derivative Gain (Loss) Deferred as Regulatory Liabilities and Assets

The following table indicates the net unrealized and net realized derivative gains and (losses) arising during the period associated with these derivatives that were recognized in the consolidated statements of income (loss) (through Fuel and purchased energy expense) and that were also deferred as Regulatory liabilities and assets, respectively, for the three and six months ended June 30, 2014 and 2013:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014		2013			2014		2013
	(millions of dollars)
Net unrealized (losses) gains arising during the period	$	—	$	(9	)	$	2	$	(7	)
Net realized gains (losses) recognized during the period		1		1			3		(3	)

Net Outstanding Commodity Forward Contracts That Did Not Qualify for Hedge Accounting

As of June 30, 2014 and December 31, 2013, the quantities and positions of DPL’s net outstanding natural gas commodity forward contracts that did not qualify for hedge accounting were:

	June 30, 2014			December 31, 2013
Commodity	Quantity		Net Position	Quantity		Net Position
DPL – Natural gas (One Million British Thermal Units (MMBtu))		3,265,000	Long		3,977,500	Long

Delmarva Power & Light Co/De [Member]

Fair Values of Derivative Instruments by Balance Sheet Location

The table below identifies the balance sheet location and fair values of derivative instruments as of December 31, 2013:

	As of December 31, 2013
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)	$	—	$	1	$	1	$	(1	)	$	—
Total Derivative asset	$	—	$	1	$	1	$	(1	)	$	—

Schedule of Cash Collateral Offset Against Derivative Positions

The amount of cash collateral that was offset against these derivative positions is as follows:

	June 30, 2014		December 31, 2013
	(millions of dollars)
Cash collateral received from counterparties with the obligation to return	$	—	$	(1	)

Net Unrealized and Realized Derivative Gain (Loss) Deferred as Regulatory Liabilities and Assets

For the three months ended June 30, 2014 and 2013, the net unrealized derivative gains arising during the period that were deferred as Regulatory liabilities and the net realized losses and gains recognized in the statements of income (through Purchased energy and Gas purchased expense) that were also deferred as Regulatory liabilities are provided in the table below:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014		2013			2014		2013
	(millions of dollars)
Net unrealized (losses) gains arising during the period	$	—	$	(2	)	$	2	$	—
Net realized gains (losses) recognized during the period		1		1			3		(3	)

Net Outstanding Commodity Forward Contracts That Did Not Qualify for Hedge Accounting

As of June 30, 2014 and December 31, 2013, DPL had the following net outstanding natural gas commodity forward contracts that did not qualify for hedge accounting:

	June 30, 2014				December 31, 2013
Commodity	Quantity		Net Position		Quantity		Net Position
Natural gas (One Million British Thermal Units (MMBtu))		3,265,000		Long		3,977,500		Long