Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments

Schedule of derivative assets financial position

	March 31, 2023
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term1		Long-Term		Subtotal		Short-Term		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	133	$	—	$	133	$	59	$	—	$	59	$	74
Gross amounts offset in the consolidated balance sheets		(59)		—		(59)		(59)		—		(59)		—
Net amounts presented in the consolidated balance sheets	$	74	$	—	$	74	$	—	$	—	$	—	$	74

	December 31, 2022
	Derivative Assets						Derivative Liabilities
(in millions)	Short-Term1		Long-Term		Subtotal		Short-Term2		Long-Term		Subtotal		Net Assets
Commodity derivative contracts
Gross amounts recognized	$	459	$	—	$	459	$	120	$	—	$	120	$	339
Gross amounts offset in the consolidated balance sheets		(119)		—		(119)		(119)		—		(119)		—
Cash collateral received		(99)		—		(99)		—		—		—		(99)
Net amounts presented in the consolidated balance sheets	$	241	$	—	$	241	$	1	$	—	$	1	$	240

1 Included in "Other current assets" on SCE's consolidated balance sheets.

2 Included in "Other current liabilities" on SCE's consolidated balance sheets.

At March 31, 2023, SCE posted cash collateral and accrued the right to reclaim cash collateral which totaled $95 million, reflected in "Other current asset" on SCE’s consolidated balance sheets.

Components of Economic Hedging Activity

		Three months ended March 31,
(in millions)		2023		2022
Realized gains (losses)	$	116	$	(19)
Unrealized (losses) gains		(264)		53

Notional Volumes of Derivative Instruments

	Unit of	Economic Hedges
Commodity	Measure	March 31, 2023	December 31, 2022
Electricity options, swaps and forwards	Gigawatt hours	1,824	1,022
Natural gas options, swaps and forwards	Billion cubic feet	46	42
Congestion revenue rights	Gigawatt hours	36,672	44,028