Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2014

Fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis

The following tables present assets and liabilities measured and recorded at fair value on the Utilities' Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy as of December 31, 2014 and 2013:



	ComEd											PECO										BGE
As of December 31, 2014	Level 1		Level 2			Level 3			Total			Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3		Total
Assets
Cash equivalents	$	25	$	—		$	—		$	25		$	12	$	—		$	—	$	12		$	103	$	—		$	—	$	103
Rabbi trust investments in Mutual funds^(a)	—		—			—			—			9		—			—		9			5		—			—		5
Total assets	25		—			—			25			21		—			—		21			108		—			—		108
Liabilities
Deferred compensation obligation	—		(8		)	—			(8		)	—		(15		)	—		(15		)	—		(5		)	—		(5		)
Mark-to-market derivative liabilities ^(b)	—		—			(207		)	(207		)	—		—			—		—			—		—			—		—
Total liabilities	—		(8		)	(207		)	(215		)	—		(15		)	—		(15		)	—		(5		)	—		(5		)
Total net assets (liabilities)	$	25	$	(8	)	$	(207	)	$	(190	)	$	21	$	(15	)	$	—	$	6		$	108	$	(5	)	$	—	$	103



	ComEd											PECO										BGE
As of December 31, 2013	Level 1		Level 2			Level 3			Total			Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3		Total
Assets
Cash equivalents	$	—	$	—		$	—		$	—		$	175	$	—		$	—	$	175		$	31	$	—		$	—	$	31
Rabbi trust investments in Mutual funds ^(a)	5		—			—			5			9		—			—		9			6		—			—		6
Total assets	5		—			—			5			184		—			—		184			37		—			—		37
Liabilities
Deferred compensation obligation	—		(8		)	—			(8		)	—		(17		)	—		(17		)	—		(6		)	—		(6		)
Mark-to-market derivative liabilities ^(b)	—		—			(193		)	(193		)	—		—			—		—			—		—			—		—
Total liabilities	—		(8		)	(193		)	(201		)	—		(17		)	—		(17		)	—		(6		)	—		(6		)
Total net assets (liabilities)	$	5	$	(8	)	$	(193	)	$	(196	)	$	184	$	(17	)	$	—	$	167		$	37	$	(6	)	$	—	$	31

_________________________


(a)	At PECO, excludes $14 million of the cash surrender value of life insurance investments at both December 31, 2014 and 2013.


(b)	The Level 3 balance includes the current and noncurrent liability of $20 million and $187 million, respectively, at December 31, 2014, and $17 million and $176 million, respectively, at December 31, 2013, related to floating-to-fixed energy swap contracts with unaffiliated suppliers.

The following tables present the carrying amounts and fair values of the Registrants’ short-term liabilities, long-term debt, SNF obligation, and trust preferred securities (long-term debt to financing trusts or junior subordinated debentures) as of December 31, 2014 and 2013:

Exelon



	December 31, 2014										December 31, 2013
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
	Carrying Amount		Level 1		Level 2		Level 3		Total		Carrying Amount		Fair Value
Short-term liabilities	$	463	$	3	$	448	$	12	$	463	$	344	$	344
Long-term debt (including amounts due within one year)	21,164		1,208		20,417		1,311		22,936		19,132		19,751
Long-term debt to financing trusts	648		—		—		648		648		648		631
SNF obligation	1,021		—		833		—		833		1,021		790

Generation



	December 31, 2014										December 31, 2013
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
	Carrying Amount		Level 1		Level 2		Level 3		Total		Carrying Amount		Fair Value
Short-term liabilities	$	36	$	—	$	24	$	12	$	36	$	22	$	22
Long-term debt (including amounts due within one year)	8,266		—		7,511		1,311		8,822		7,729		7,648
SNF obligation	1,021		—		833		—		833		1,021		790

ComEd



	December 31, 2014										December 31, 2013
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
	Carrying Amount		Level 1		Level 2		Level 3		Total		Carrying Amount		Fair Value
Short-term liabilities	$	304	$	—	$	304	$	—	$	304	$	184	$	184
Long-term debt (including amounts due within one year)	5,958		—		6,788		—		6,788		5,675		6,255
Long-term debt to financing trust	206		—		—		213		213		206		202

PECO



	December 31, 2014										December 31, 2013
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
	Carrying Amount		Level 1		Level 2		Level 3		Total		Carrying Amount		Fair Value
Long-term debt (including amounts due within one year)	$	2,246	$	—	$	2,537	$	—	$	2,537	$	2,197	$	2,358
Long-term debt to financing trusts	184		—		—		199		199		184		180

BGE



	December 31, 2014										December 31, 2013
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
	Carrying Amount		Level 1		Level 2		Level 3		Total		Carrying Amount		Fair Value
Short-term liabilities	$	123	$	3	$	120	$	—	$	123	$	138	$	138
Long-term debt (including amounts due within one year)	1,942		—		2,178		—		2,178		2,011		2,148
Long-term debt to financing trusts	258		—		—		236		236		258		249

Fair value of financial liabilities recorded at the carrying amount

The following tables present assets and liabilities measured and recorded at fair value on Exelon's and Generation’s Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy as of December 31, 2014 and 2013:



	Generation								Exelon
As of December 31, 2014	Level 1		Level 2		Level 3		Total		Level 1			Level 2			Level 3			Total
Assets
Cash equivalents ^(a)	$	405	$	—	$	—	$	405	$	1,119		$	—		$	—		$	1,119
Nuclear decommissioning trust fund investments
Cash equivalents	208		37		—		245		208			37			—			245
Equity
Domestic	2,423		2,207		—		4,630		2,423			2,207			—			4,630
Foreign	612		—		—		612		612			—			—			612
Equity funds subtotal	3,035		2,207		—		5,242		3,035			2,207			—			5,242
Fixed income
Corporate debt securities	—		2,023		239		2,262		—			2,023			239			2,262
U.S. Treasury and agencies	996		—		—		996		996			—			—			996
Foreign governments	—		95		—		95		—			95			—			95
State and municipal debt	—		438		—		438		—			438			—			438
Other	—		511		—		511		—		—	511		—	—		—	511
Fixed income subtotal	996		3,067		239		4,302		996			3,067			239			4,302
Middle market lending	—		—		366		366		—			—			366			366
Private equity	—		—		83		83		—			—			83			83
Real estate	—		—		3		3		—		—	—		—	3			3
Other	—		301		—		301		—			301			—			301
Nuclear decommissioning trust funds subtotal ^(b)	4,239		5,612		691		10,542		4,239			5,612			691			10,542
Pledged assets for Zion Station decommissioning
Cash equivalents	—		15		—		15		—			15			—			15
Equities	6		1		—		7		6			1			—			7
Fixed income
U.S. Treasury and agencies	5		3		—		8		5			3			—			8
Corporate debt	—		89		—		89		—			89			—			89
State and municipal debt	—		10		—		10		—			10			—			10
Other	—		3		—		3		—			3			—			3
Fixed income subtotal	5		105		—		110		5			105			—			110
Middle market lending	—		—		184		184		—			—			184			184



Pledged assets for Zion Station decommissioning subtotal ^(c)	11				121				184			316			11			121			184			316
Rabbi trust investments ^(d)
Cash equivalents	—				—			—	—			—			1			—			—			1
Mutual funds ^(e)	16			—	—			—	—			16			46			—			—			46
Rabbi trust investments subtotal	16				—				—			16			47			—			—			47
Commodity derivative assets
Economic hedges	1,667				3,465				1,681			6,813			1,667			3,465			1,681			6,813
Proprietary trading	201				284				27			512			201			284			27			512
Effect of netting and allocation of collateral ^(f)	(1,982		)		(2,757		)		(557		)	(5,296		)	(1,982		)	(2,757		)	(557		)	(5,296		)
Commodity derivative assets subtotal	(114		)		992				1,151			2,029			(114		)	992			1,151			2,029
Interest rate and foreign currency derivative assets
Derivatives designated as hedging instruments	—				8				—			8			—			31			—			31
Economic hedges	—				12				—			12			—			13			—			13
Proprietary trading	18				9				—			27			18			9			—			27
Effect of netting and allocation of collateral	(17		)		(12		)		—			(29		)	(17		)	(31		)	—			(48		)
Interest rate and foreign currency derivative assets subtotal	1				17				—			18			1			22			—			23
Other investments	—				—				3			3			2			—			3			5
Total assets	4,558				6,742				2,029			13,329			5,305			6,747			2,029			14,081
Liabilities
Commodity derivative liabilities
Economic hedges	(2,241		)		(3,458		)		(788		)	(6,487		)	(2,241		)	(3,458		)	(995		)	(6,694		)
Proprietary trading	(195		)		(295		)		(42		)	(532		)	(195		)	(295		)	(42		)	(532		)
Effect of netting and allocation of collateral ^(f)	2,416				3,557				729			6,702			2,416			3,557			729			6,702
Commodity derivative liabilities subtotal	(20		)		(196		)		(101		)	(317		)	(20		)	(196		)	(308		)	(524		)
Interest rate and foreign currency derivative liabilities	—				—				—			—			—			—			—			—
Derivatives designated as hedging instruments	—				(12		)		—			(12		)	—			(41		)	—			(41		)
Economic hedges	—				(2		)		—			(2		)	—			(103		)	—			(103		)
Proprietary trading	(14		)		(9		)		—			(23		)	(14		)	(9		)	—			(23		)
Effect of netting and allocation of collateral	25				10				—			35			25			29			—			54
Interest rate and foreign currency derivative liabilities subtotal	11				(13		)		—			(2		)	11			(124		)	—			(113		)
Deferred compensation obligation	—				(31		)		—			(31		)	—			(107		)	—			(107		)
Total liabilities	(9		)		(240		)		(101		)	(350		)	(9		)	(427		)	(308		)	(744		)
Total net assets	$	4,549			$	6,502			$	1,928		$	12,979		$	5,296		$	6,320		$	1,721		$	13,337

Assets and liabilities measured and recorded at fair value on recurring basis



	Generation								Exelon
As of December 31, 2013	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents ^(a)	$	1,006	$	—	$	—	$	1,006	$	1,230	$	—	$	—	$	1,230
Nuclear decommissioning trust fund investments
Cash equivalents	459		—		—		459		459		—		—		459
Equities
Domestic	1,642		2,271		—		3,913		1,642		2,271		—		3,913
Foreign	249		—		—		249		249		—		—		249
Equity funds subtotal	1,891		2,271		—		4,162		1,891		2,271		—		4,162
Fixed income
Corporate debt securities	—		1,753		31		1,784		—		1,753		31		1,784
U.S. Treasury and agencies	882		—		—		882		882		—		—		882
Foreign governments	—		87		—		87		—		87		—		87
State and municipal debt	—		294		—		294		—		294		—		294



Other	—			75			—			75			—			75			—			75
Fixed income subtotal	882			2,209			31			3,122			882			2,209			31			3,122
Middle market lending	—			—			314			314			—			—			314			314
Private equity	—			—			5			5			—			—			5			5
Other	—			14			—			14			—			14			—			14
Nuclear decommissioning trust funds subtotal ^(b)	3,232			4,494			350			8,076			3,232			4,494			350			8,076
Pledged assets for Zion Station decommissioning
Cash equivalents	—			26			—			26			—			26			—			26
Equities	16			—			—			16			16			—			—			16
Fixed income
U.S. Treasury and agencies	45			4			—			49			45			4			—			49
Corporate debt	—			227			—			227			—			227			—			227
State and municipal debt	—			20			—			20			—			20			—			20
Fixed income subtotal	45			251			—			296			45			251			—			296
Middle market lending	—			—			112			112			—			—			112			112
Other	—			1			—			1			—			1			—			1
Pledged assets for Zion Station decommissioning subtotal ^(c)	61			278			112			451			61			278			112			451
Rabbi trust investments ^(d)
Cash equivalents	—			—			—			—			2			—			—			2
Mutual funds ^(e)	13			—			—			13			54			—			—			54
Rabbi trust investments subtotal	13			—			—			13			56			—			—			56
Commodity derivative assets										—												—
Economic hedges	493			2,582			885			3,960			493			2,582			885			3,960
Proprietary trading	324			1,315			122			1,761			324			1,315			122			1,761
Effect of netting and allocation of collateral ^(f)	(863		)	(3,131		)	(430		)	(4,424		)	(863		)	(3,131		)	(430		)	(4,424		)
Commodity derivative assets subtotal	(46		)	766			577			1,297			(46		)	766			577			1,297
Interest rate and foreign currency derivative assets	30			32			—			62			30			39			—			69
Effect of netting and allocation of collateral	(30		)	(2		)	—			(32		)	(30		)	(2		)	—			(32		)
Interest rate and foreign currency derivative assets subtotal	—			30			—			30			—			37			—			37
Other investments	—			—			15			15			—			—			15			15
Total assets	4,266			5,568			1,054			10,888			4,533			5,575			1,054			11,162
Liabilities
Commodity derivative liabilities
Economic hedges	(540		)	(1,890		)	(397		)	(2,827		)	(540		)	(1,890		)	(590		)	(3,020		)
Proprietary trading	(328		)	(1,256		)	(119		)	(1,703		)	(328		)	(1,256		)	(119		)	(1,703		)
Effect of netting and allocation of collateral ^(f)	869			3,007			404			4,280			869			3,007			404			4,280
Commodity derivative liabilities subtotal	1			(139		)	(112		)	(250		)	1			(139		)	(305		)	(443		)
Interest rate and foreign currency derivative liabilities	(31		)	(13		)	—			(44		)	(31		)	(17		)	—			(48		)
Effect of netting and allocation of collateral	31			1			—			32			31			1			—			32
Interest rate and foreign currency derivative liabilities subtotal	—			(12		)	—			(12		)	—			(16		)	—			(16		)
Deferred compensation obligation	—			(29		)	—			(29		)	—			(114		)	—			(114		)
Total liabilities	1			(180		)	(112		)	(291		)	1			(269		)	(305		)	(573		)
Total net assets	$	4,267		$	5,388		$	942		$	10,597		$	4,534		$	5,306		$	749		$	10,589

_________________________


(a)	Excludes certain cash equivalents considered to be held-to-maturity and not reported at fair value.


(b)	Excludes net liabilities of $5 million at both December 31, 2014 and 2013. These items consist of receivables related to pending securities sales, interest and dividend receivables, and payables related to pending securities purchases.


(c)	Excludes net assets of $3 million and $7 million at December 31, 2014 and 2013, respectively. These items consist of receivables related to pending securities sales, interest and dividend receivables, and payables related to pending securities purchases.


(d)	Excludes $35 million and $32 million of cash surrender value of life insurance investment at December 31, 2014 and 2013, respectively, at Exelon Consolidated. Excludes $11 million and $10 million of cash surrender value of life insurance investment at December 31, 2014 and 2013, respectively, at Generation.


(e)	The mutual funds held by the Rabbi trusts at Exelon Consolidated include $45 million related to deferred compensation and $1 million related to a Supplemental Executive Retirement Plan at December 31, 2014, and $53 million related to deferred compensation and $1 million related to a Supplemental Executive Retirement Plan at December 31, 2013.

(f)

Includes collateral postings (received) to/from counterparties. Collateral posted (received) to/from counterparties, net of collateral paid to counterparties, totaled $434 million, $800 million and $172 million allocated to Level 1, Level 2 and Level 3 mark-to-market derivatives, respectively, as of December 31, 2014. Collateral posted (received) to/from counterparties, net of collateral paid to counterparties, totaled $6 million, $(124) million and $(26) million allocated to Level 1, Level 2 and Level 3 mark-to-market derivatives, respectively, as of December 31, 2013.

Total realized and unrealized gains (losses) included in income for Level 3 assets and liabilities measured at fair value on a recurring basis



	Generation							Exelon
	Operating Revenues			Purchased Power and Fuel		Other, net ^(a)		Operating Revenues			Purchased Power and Fuel		Other, net ^(a)
Total gains (losses) included in net income for the year ended December 31, 2013	$	(158	)	$	107	$	2	$	(152	)	$	108	$	2
Change in the unrealized gains relating to assets and liabilities held for the year ended December 31, 2013	$	30		$	126	$	1	$	40		$	127	$	1

_________________________


(a)	Other, net activity consists of realized and unrealized gains (losses) included in income for the NDT funds held by Generation.

The following tables present the income statement classification of the total realized and unrealized gains (losses) included in income for Level 3 assets and liabilities measured at fair value on a recurring basis during the years ended December 31, 2014 and 2013:



	Generation							Exelon
	Operating Revenues		Purchased Power and Fuel			Other, net ^(a)		Operating Revenues		Purchased Power and Fuel			Other, net ^(a)
Total gains (losses) included in net income for the year ended December 31, 2014	$	614	$	(88	)	$	6	$	614	$	(88	)	$	6
Change in the unrealized gains (losses) relating to assets and liabilities held for the year ended December 31, 2014	$	663	$	(23	)	$	4	$	663	$	(23	)	$	4

The following table presents the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis during the year ended December 31, 2014 and 2013:



	Generation																ComEd						Exelon
For The Year Ended December 31, 2014	Nuclear Decommissioning Trust Fund Investments			Pledged Assets for Zion Station Decommissioning			Mark-to-Market Derivatives				Other Investments			Total Generation			Other- ComEd (b)			Eliminated in Consolidation			Total
Balance as of January 1, 2014	$	350		$	112		$	465			$	15		$	942		$	(193	)	$	—		$	749
Total realized / unrealized gains (losses)
Included in net income	6			—			526			^(a)	—			532			—			—			532
Included in noncurrent payables to affiliates	14			—			—				—			14			—			(14		)	—
Included in payable for Zion Station decommissioning	—			2			—				—			2			—			—			2
Included in regulatory assets/liabilities	—			—			—				—			—			(14		)	14			—
Change in collateral	—			—			198				—			198			—			—			198
Purchases, sales, issuances and settlements
Purchases	400			120			76			^(c)	2			598			—			—			598
Sales	(15		)	(50		)	(7		)		(8		)	(80		)	—			—			(80		)
Settlements	(64		)	—			—				—			(64		)	—			—			(64		)
Transfers into Level 3	—			—			(7		)		—			(7		)	—			—			(7		)
Transfers out of Level 3	—			—			(201		)		(6		)	(207		)	—			—			(207		)
Balance as of December 31, 2014	$	691		$	184		$	1,050			$	3		$	1,928		$	(207	)	$	—		$	1,721
The amount of total gains included in income attributed to the change in unrealized gains (losses) related to assets and liabilities as of December 31, 2014	$	4		$	—		$	640			$	—		$	644		$	—		$	—		$	644



	Generation																ComEd						Exelon
For The Year Ended December 31, 2013	Nuclear Decommissioning Trust Fund Investments			Pledged Assets for Zion Station Decommissioning			Mark-to-Market Derivatives ^(d)				Other Investments			Total Generation			Other- ComEd^(b)(f)			Eliminated in Consolidation			Total
Balance as of January 1, 2013	$	183		$	89		$	660			$	17		$	949		$	(293	)	$	—		$	656
Total realized / unrealized gains (losses)																							—
Included in net income	2			—			(51		)	^(a)	—			(49		)	—			7			(42		)
Included in other comprehensive income	—			—			(219		)		2			(217		)	—			219			2
Included in noncurrent payables to affiliates	8			—			—				—			8			—			(8		)	—
Included in payable for Zion Station decommissioning	—			—			—				—			—			—			—			—
Included in regulatory assets/liabilities	—			—			—				—			—			100			(218		)	(118		)
Change in collateral	—			—			7				—			7			—			—			7
Purchases, sales, issuances and settlements
Purchases	203			62			28				4			297			—			—			297
Sales	(28		)	(39		)	(11		)		(8		)	(86		)	—			—			(86		)
Settlements	(18		)	—			—				—			(18		)	—			—			(18		)
Transfers into Level 3	—			—			86			^(e)	1			87			—			—			87
Transfers out of Level 3	—			—			(35		)		(1		)	(36		)	—			—			(36		)
Balance as of December 31, 2013	$	350		$	112		$	465			$	15		$	942		$	(193	)	$	—		$	749
The amount of total gains included in income attributed to the change in unrealized gains (losses) related to assets and liabilities held as of December 31, 2013	$	1		$	—		$	156			$	—		$	157		$	—		$	—		$	168

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(a)	Includes the reclassification of $114 million and $207 million of realized gains due to the settlement of derivative contracts for the years ended December 31, 2014 and 2013, respectively.


(b)	Includes $13 million and $133 million of decreases in fair value and $1 million and $(7) million of realized gains (losses) due to settlements associated with floating-to-fixed energy swap contracts with unaffiliated suppliers for the years ended December 31, 2014 and 2013, respectively.


(c)	Includes $34 million of fair value from contracts acquired as a result of the Integrys acquisition.


(d)	Includes $11 million of decreases in fair value and realized gains due to settlements of $215 million associated with Generation's financial swap contract with ComEd for the year ended December 31, 2013. All items eliminate upon consolidation in Exelon’s Consolidated Financial Statements.


(e)	Includes an increase of transfers into Level 3 arising from reductions in market liquidity, which resulted in less observable contract tenures in various locations.


(f)	Includes $11 million of increases in fair value and realized losses due to settlements of $215 million associated with Generation's financial swap contract with ComEd for the year ended December 31, 2013. All items eliminate upon consolidation in Exelon’s Consolidated Financial Statements.

Fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis, valuation technique

The table below discloses the significant inputs to the forward curve used to value these positions.



Type of trade	Fair Value at December 31,2014			Valuation Technique	Unobservable Input	Range
Mark-to-market derivatives—Economic hedges (Generation) ^(a)(c)	$	893		Discounted Cash Flow	Forward power price	$15	-	$120	^(d)
					Forward gas price	$1.52	-	$14.02	^(d)
				Option Model	Volatility percentage	8%	-	257%
Mark-to-market derivatives—Proprietary trading (Generation) ^(a)(c)	$	(15	)	Discounted Cash Flow	Forward power price	$15	-	$117	^(d)
Mark-to-market derivatives (ComEd)	$	(207	)	Discounted Cash Flow	Forward heat rate ^(b)	8x	-	9x
					Marketability reserve	3.5%	-	8%
					Renewable factor	86%	-	126%

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(a)	The valuation techniques, unobservable inputs and ranges are the same for the asset and liability positions.


(b)	Quoted forward natural gas rates are utilized to project the forward power curve for the delivery of energy at specified future dates. The natural gas curve is extrapolated beyond its observable period to the end of the contract’s delivery.


(c)	The fair values do not include cash collateral held on level three positions of $172 million as of December 31, 2014.


(d)	The upper ends of the ranges are driven by the winter power and gas prices in the New England region. Without the New England region, the upper ends of the ranges for power and gas would be approximately $97 and $8.14, respectively, and would be approximately $76 for power proprietary trading.



Type of trade	Fair Value at December 31, 2013			Valuation Technique	Unobservable Input	Range
Mark-to-market derivatives—Economic hedges (Generation) ^(a)(c)	$	488		Discounted Cash Flow	Forward power price	$8	-	$176	^(d)
					Forward gas price	$2.98	-	$16.63	^(d)
				Option Model	Volatility percentage	15%	-	142%
Mark-to-market derivatives— Proprietary trading (Generation) ^(a)(c)	$	3		Discounted Cash Flow	Forward power price	$10	-	$176	^(d)
Mark-to-market derivatives (ComEd)	$	(193	)	Discounted Cash Flow	Forward heat rate ^(b)	8x	-	9x
					Marketability reserve	3.5%	-	8%
					Renewable factor	84%	-	128%

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(a)	The valuation techniques, unobservable inputs and ranges are the same for the asset and liability positions.


(b)	Quoted forward natural gas rates are utilized to project the forward power curve for the delivery of energy at specified future dates. The natural gas curve is extrapolated beyond its observable period to the end of the contract’s delivery.


(c)	The fair values do not include cash collateral held on level three positions of $26 million as of December 31, 2013


(d)	The upper ends of the ranges are driven by the winter power and gas prices in the New England region. Without the New England region, the upper ends of the ranges for power and gas would be approximately $100 and $5.70, respectively.

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details