v3.24.2
Price Risk Management (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative [Line Items]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
PGE’s Assets and Liabilities from price risk management activities consist of the following (in millions):
June 30, 2024December 31, 2023
Current assets:
Commodity contracts:
Electricity$24 $13 
Natural gas13 9 
Total current derivative assets (1)
37 22 
Noncurrent assets:
Commodity contracts:
Electricity8 9 
Natural gas2 2 
Total noncurrent derivative assets (1)
10 11 
Total derivative assets (2)
$47 $33 
Current liabilities:
Commodity contracts:
Electricity$52 $51 
Natural gas90 113 
Total current derivative liabilities142 164 
Noncurrent liabilities:
Commodity contracts:
Electricity16 22 
Natural gas42 53 
Total noncurrent derivative liabilities58 75 
Total derivative liabilities (2)
$200 $239 
(1) Total current derivative assets are included in Other current assets, and Total noncurrent derivative assets are included in Other noncurrent assets on the condensed consolidated balance sheets.
(2) As of June 30, 2024 and December 31, 2023, no derivative assets or liabilities were designated as hedging instruments.
Schedule of Derivative Instruments [Table Text Block]
PGE’s net volumes related to its Assets and Liabilities from price risk management activities resulting from its derivative transactions, which are expected to deliver or settle at various dates through 2035, were as follows (in millions):
June 30, 2024December 31, 2023
Commodity contracts:
Electricity5 MWhs3 MWhs
Natural gas193 Decatherms213 Decatherms
Foreign currency$25 Canadian$20 Canadian
Derivatives Not Designated as Hedging Instruments [Table Text Block]
Net realized and unrealized losses (gains) on derivative transactions not designated as hedging instruments are classified in Revenues, net or Purchased power and fuel, as applicable, in the condensed consolidated statements of income and comprehensive income and were as follows (in millions):
Three Months Ended June 30, Six Months Ended June 30,
2024202320242023
Commodity contracts:
Electricity$(11)$88 $(30)$53 
Natural Gas6 65 20 197 
Net unrealized and certain net realized losses/(gains) presented in the table above are offset within the condensed consolidated statements of income and comprehensive income by the effects of regulatory accounting.
Schedule of Risk Derivatives [Table Text Block]
Assuming no changes in market prices and interest rates, the following table indicates the year in which the net unrealized loss/(gain) recorded as of June 30, 2024 related to PGE’s derivative activities would become realized as a result of the settlement of the underlying derivative instrument (in millions):
20242025202620272028ThereafterTotal
Commodity contracts:
Electricity$19 $18 $(1)$(1)$— $1 $36 
Natural gas45 46 24 2 — — 117 
Net unrealized loss/(gain)$64 $64 $23 $1 $— $1 $153