Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative assets financial position


	September 30, 2021
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term¹		Long-Term²		Subtotal		Short-Term		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	213	$	28	$	241	$	8	$	3	$	11	$	230
Gross amounts offset in the consolidated balance sheets		(8)		(3)		(11)		(8)		(3)		(11)		—
Cash collateral posted³		(86)		—		(86)		—		—		—		(86)
Net amounts presented in the consolidated balance sheets	$	119	$	25	$	144	$	—	$	—	$	—	$	144


	December 31, 2020
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term¹		Long-Term²		Subtotal		Short-Term		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	103	$	23	$	126	$	16	$	6	$	22	$	104
Gross amounts offset in the consolidated balance sheets		(12)		(6)		(18)		(12)		(6)		(18)		—
Cash collateral posted³		—		—		—		(4)		—		(4)		4
Net amounts presented in the consolidated balance sheets	$	91	$	17	$	108	$	—	$	—	$	—	$	108

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.

At September 30, 2021, SCE offset $86 million of cash collateral against derivative assets , of which $76 million was reflected in "Cash" and $10 million in "Receivables" on the consolidated balance sheets. At December 31, 2020, SCE posted $17 million of cash, of which $4 million was offset against derivative liabilities and $13 million was reflected in "Other current assets" on the consolidated balance sheets.

Components of Economic Hedging Activity


		Three months ended September 30,			Nine months ended September 30,
(in millions)		2021		2020	2021		2020
Realized gains	$	66	$	128	$	193	$	68
Unrealized gains (losses)		116		75		126		(39)

Notional Volumes of Derivative Instruments



	Unit of	Economic Hedges
Commodity	Measure	September 30, 2021	December 31, 2020
Electricity options, swaps and forwards	GWh	1,036	1,581
Natural gas options, swaps and forwards	Bcf	50	34
Congestion revenue rights	GWh	41,573	41,151