Risk Management and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2021

PAC

Derivative [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table, which reflects master netting arrangements and excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of PacifiCorp's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Consolidated Balance Sheets (in millions):

	Other				Other		Other
	Current		Other		Current		Long-term
	Assets		Assets		Liabilities		Liabilities		Total
As of December 31, 2021:
Not designated as hedging contracts(1):
Commodity assets	$	81	$	21	$	2	$	—	$	104
Commodity liabilities	(5)		(1)		(38)		(7)		(51)
Total	76		20		(36)		(7)		53
Total derivatives	76		20		(36)		(7)		53
Cash collateral receivable	—		—		5		—		5
Total derivatives - net basis	$	76	$	20	$	(31)	$	(7)	$	58
As of December 31, 2020:
Not designated as hedging contracts(1):
Commodity assets	$	29	$	6	$	1	$	—	$	36
Commodity liabilities	(2)		—		(23)		(28)		(53)
Total	27		6		(22)		(28)		(17)
Total derivatives	27		6		(22)		(28)		(17)
Cash collateral receivable	—		—		15		9		24
Total derivatives - net basis	$	27	$	6	$	(7)	$	(19)	$	7

(1)PacifiCorp's commodity derivatives are generally included in rates. As of December 31, 2021 a regulatory liability of $53 million was recorded related to the net derivative asset of $53 million. As of December 31, 2020 regulatory asset of $17 million was recorded related to the net derivative liability of $17 million.

Schedule of Regulatory Assets (Liabilities), Net, Unrealized Loss (Gain), Net, on Derivative Contracts

The following table reconciles the beginning and ending balances of PacifiCorp's net regulatory assets and summarizes the pre-tax gains and losses on commodity derivative contracts recognized in net regulatory assets, as well as amounts reclassified to earnings for the years ended December 31 (in millions):

	2021		2020		2019
Beginning balance	$	17	$	62	$	96
Changes in fair value recognized in regulatory assets	(171)		(11)		(37)
Net (losses) gains reclassified to operating revenue	(23)		3		(34)
Net gains (losses) reclassified to energy costs	124		(37)		37
Ending balance	$	(53)	$	17	$	62

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions):

	Unit of
	Measure	2021	2020
Electricity purchases (sales), net	Megawatt hours	2	(1)
Natural gas purchases	Decatherms	106	100

NPC

Derivative [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Nevada Power's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions):

	Other		Other		Other
	Current		Current		Long-term
	Assets		Liabilities		Liabilities		Total
As of December 31, 2021:
Not designated as hedging contracts (1):
Commodity assets	$	4	$	—	$	—	$	4
Commodity liabilities	—		(55)		(62)		(117)
Total derivative - net basis	$	4	$	(55)	$	(62)	$	(113)
As of December 31, 2020:
Not designated as hedging contracts(1):
Commodity assets	$	26	$	—	$	—	$	26
Commodity liabilities	—		(3)		(8)		(11)
Total derivative - net basis	$	26	$	(3)	$	(8)	$	15

(1)Nevada Power's commodity derivatives not designated as hedging contracts are included in regulated rates. As of December 31, 2021 a regulatory asset of $113 million was recorded related to the net derivative liability of $113 million. As of December 31, 2020 a regulatory liability of $15 million was recorded related to the net derivative asset of $15 million.

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions):

	Unit of
	Measure	2021	2020
Electricity purchases	Megawatt hours	1	1
Natural gas purchases	Decatherms	119	124

SPPC

Derivative [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table, which excludes contracts that have been designated as normal under the normal purchases and normal sales exception afforded by GAAP, summarizes the fair value of Sierra Pacific's derivative contracts, on a gross basis, and reconciles those amounts presented on a net basis on the Consolidated Balance Sheets (in millions):

	Other		Other		Other
	Current		Current		Long-term
	Assets		Liabilities		Liabilities		Total
As of December 31, 2021:
Not designated as hedging contracts (1):
Commodity assets	$	2	$	—	$	—	$	2
Commodity liabilities	—		(16)		(19)		(35)
Total derivative - net basis	$	2	$	(16)	$	(19)	$	(33)
As of December 31, 2020:
Not designated as hedging contracts(1):
Commodity assets	$	9	$	—	$	—	$	9
Commodity liabilities	—		—		(2)		(2)
Total derivative - net basis	$	9	$	—	$	(2)	$	7

(1)Sierra Pacific's commodity derivatives not designated as hedging contracts are included in regulated rates. As of December 31, 2021 a regulatory asset of $33 million was recorded related to the net derivative liability of $33 million. As of December 31, 2020 a regulatory liability of $7 million was recorded related to the net derivative asset of $7 million.

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions):

	Unit of
	Measure	2021	2020
Electricity purchases	Megawatt hours	1	—
Natural gas purchases	Decatherms	53	54

EEGH

Derivative [Line Items]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table summarizes the net notional amounts of outstanding commodity derivative contracts with fixed price terms that comprise the mark-to-market values as of December 31 (in millions):

	Unit of
	Measure	2021	2020
Interest rate	U.S. $	—	500
Foreign currency	Euro €	250	250
Natural gas	Dth	2	5