Regulatory Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2023

Regulatory Assets and Liabilities

Regulatory assets

	June 30,		December 31,
(in millions)	2023		2022
Current:
Regulatory balancing and memorandum accounts	$	3,574	$	2,400
Power contracts		23		71
Energy derivatives		39		—
Other		20		26
Total current		3,656		2,497
Long-term:
Deferred income taxes, net of liabilities		5,366		5,178
Unamortized investments, net of accumulated amortization		110		113
Unamortized loss on reacquired debt		103		109
Regulatory balancing and memorandum accounts		1,107		1,589
Environmental remediation		234		241
Recovery assets		1,585		834
Other		116		117
Total long-term		8,621		8,181
Total regulatory assets	$	12,277	$	10,678

Regulatory liabilities

	June 30,		December 31,
(in millions)	2023		2022
Current:
Regulatory balancing and memorandum accounts	$	779	$	584
Energy derivatives		—		338
Other		18		42
Total current		797		964
Long-term:
Costs of removal		2,705		2,589
Re-measurement of deferred taxes		2,224		2,250
Recoveries in excess of ARO liabilities		1,444		1,231
Regulatory balancing and memorandum accounts		1,353		1,116
Pension and other postretirement benefits		992		1,007
Other		17		18
Total long-term		8,735		8,211
Total regulatory liabilities	$	9,532	$	9,175

Schedule of Regulatory Balancing Accounts

	June 30,		December 31,
(in millions)	2023		2022
Asset (liability)
Energy resource recovery account	$	(471)	$	1,580
Portfolio allocation balancing account		1,613		(73)
New system generation balancing account		135		(63)
Public purpose programs and energy efficiency programs		(1,900)		(1,577)
Base revenue requirement balancing account		1,566		1,108
GRC wildfire mitigation balancing accounts		192		67
Residential uncollectibles balancing account		28		—
Greenhouse gas auction revenue and low carbon fuel standard revenue		(181)		(289)
FERC balancing accounts		(114)		(123)
Wildfire and drought restoration accounts		383		352
Wildfire-related memorandum accounts		886		1,168
COVID-19-related memorandum accounts		69		67
Customer service re-platform memorandum account		70		64
Tax accounting memorandum account and pole loading balancing account		192		90
Excess bond and power charge balancing account		9		(56)
Other		72		(26)
Asset	$	2,549	$	2,289