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Derivative Instruments (Tables) - Southern California Edison
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Fair Value of Derivative Asset Instruments The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
September 30, 2020
 Derivative AssetsDerivative LiabilitiesNet
Assets
(in millions)
Short-Term1
Long-Term2
Subtotal
Short-Term3
Long-TermSubtotal
Commodity derivative contracts
       
Gross amounts recognized$52 $4 $56 $7 $1 $8 $48 
Gross amounts offset in the consolidated balance sheets
(7)(1)(8)(7)(1)(8)— 
Cash collateral posted4
— — — — — — — 
Net amounts presented in the consolidated balance sheets
$45 $3 $48 $— $— $— $48 
December 31, 2019
 Derivative AssetsDerivative LiabilitiesNet
Assets
(in millions)
Short-Term1
Long-Term2
Subtotal
Short-Term3
Long-TermSubtotal
Commodity derivative contracts
Gross amounts recognized$94 $8 $102 $14 $2 $16 $86 
Gross amounts offset in the consolidated balance sheets
(13)(2)(15)(13)(2)(15)— 
Cash collateral posted4
— — — — — — — 
Net amounts presented in the consolidated balance sheets
$81 $6 $87 $1 $— $1 $86 
1     Included in "Other current assets" on Edison International's and SCE's consolidated balance sheets.
2    Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets.
3    Included in "Other current liabilities" on Edison International's and SCE's consolidated balance sheets.
4     At September 30, 2020, SCE did not post any cash collateral. At December 31, 2019, SCE posted $24 million of cash, which was not offset against net derivative liabilities and was reflected in "Other current assets" on the consolidated balance sheets.
Fair Value of Derivative Liabilities Instruments The following table summarizes the gross and net fair values of SCE's commodity derivative instruments:
September 30, 2020
 Derivative AssetsDerivative LiabilitiesNet
Assets
(in millions)
Short-Term1
Long-Term2
Subtotal
Short-Term3
Long-TermSubtotal
Commodity derivative contracts
       
Gross amounts recognized$52 $4 $56 $7 $1 $8 $48 
Gross amounts offset in the consolidated balance sheets
(7)(1)(8)(7)(1)(8)— 
Cash collateral posted4
— — — — — — — 
Net amounts presented in the consolidated balance sheets
$45 $3 $48 $— $— $— $48 
December 31, 2019
 Derivative AssetsDerivative LiabilitiesNet
Assets
(in millions)
Short-Term1
Long-Term2
Subtotal
Short-Term3
Long-TermSubtotal
Commodity derivative contracts
Gross amounts recognized$94 $8 $102 $14 $2 $16 $86 
Gross amounts offset in the consolidated balance sheets
(13)(2)(15)(13)(2)(15)— 
Cash collateral posted4
— — — — — — — 
Net amounts presented in the consolidated balance sheets
$81 $6 $87 $1 $— $1 $86 
1     Included in "Other current assets" on Edison International's and SCE's consolidated balance sheets.
2    Included in "Other long-term assets" on Edison International's and SCE's consolidated balance sheets.
3    Included in "Other current liabilities" on Edison International's and SCE's consolidated balance sheets.
4     At September 30, 2020, SCE did not post any cash collateral. At December 31, 2019, SCE posted $24 million of cash, which was not offset against net derivative liabilities and was reflected in "Other current assets" on the consolidated balance sheets.
Summarization of Economic Hedging Activities
The following table summarizes the components of SCE's economic hedging activity:
 Three months ended September 30,Nine months ended September 30,
(in millions)2020201920202019
Realized gains (losses)$128 $(47)$68 $(17)
Unrealized gains (losses)75 24 (39)(104)
Notional Volumes of Derivative Instruments
The following table summarizes the notional volumes of derivatives used for SCE's economic hedging activities:
 Economic Hedges
CommodityUnit of MeasureSeptember 30, 2020December 31, 2019
Electricity options, swaps and forwardsGWh2,338 3,155 
Natural gas options, swaps and forwardsBcf30 43 
Congestion revenue rightsGWh43,229 48,170