Derivative Instruments Derivative Fair Values (Details) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($)Bcf | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($)Bcf |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | $ 168,000,000 | | | $ 105,000,000 | [1] |
Derivative Liability, Fair Value, Gross Liability | | 833,000,000 | | | 784,000,000 | [1] |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | | 19,000,000 | | $ (47,000,000) | | |
Derivative, Fair Value, Net [Abstract] | | | | | | |
Derivative, Fair Value, Offsets, Net | | 12,000,000 | | | (14,000,000) | |
Total fair value of the derivative instruments that contain credit risk contingent features that are in a net liability position | | 2,000,000 | | | 1,000,000 | |
The aggregate fair value of assets already posted as collateral | | 0 | | | 0 | |
Credit Risk Contingent Features assets | | 1,000,000 | | | $ 0 | |
Gains (Losses) in Expense: Natural Gas [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | | (4,000,000) | | 0 | | |
Gain (Loss) on Fair Value Hedges Recognized in Earnings | [2] | $ (1,000,000) | | 0 | | |
Natural gas derivatives [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative, Nonmonetary Notional Amount, Volume | Bcf | | 1,905 | | | 1,035 | |
Derivative, Fair Value, Net [Abstract] | | | | | | |
Gross Amounts Recognized | [3] | $ 62,000,000 | | | $ 38,000,000 | |
Derivative, Fair Value, Offsets, Net | | 12,000,000 | | | (14,000,000) | |
Net Amount Presented in the Consolidated Balance Sheets | [4] | 74,000,000 | | | 24,000,000 | |
Natural gas derivatives [Member] | Gains (Losses) in Revenue [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | | 96,000,000 | | 20,000,000 | | |
Natural gas derivatives [Member] | Gains (Losses) in Expense: Natural Gas [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | | 3,000,000 | | 0 | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | | (67,000,000) | | (11,000,000) | | |
Natural gas derivatives [Member] | Current Assets [Member] | | | | | | |
Derivative, Fair Value, Net [Abstract] | | | | | | |
Gross Amounts Recognized | [3] | 112,000,000 | | | 81,000,000 | |
Gross amounts offset | | (48,000,000) | | | (30,000,000) | |
Derivative Asset | [4] | 64,000,000 | | | 51,000,000 | |
Natural gas derivatives [Member] | Other Assets [Member] | | | | | | |
Derivative, Fair Value, Net [Abstract] | | | | | | |
Gross Amounts Recognized | [3] | 56,000,000 | | | 24,000,000 | |
Gross amounts offset | | (10,000,000) | | | (5,000,000) | |
Derivative Asset | [4] | 46,000,000 | | | 19,000,000 | |
Natural gas derivatives [Member] | Current Liabilities [Member] | | | | | | |
Derivative, Fair Value, Net [Abstract] | | | | | | |
Gross Amounts Recognized | [3] | (78,000,000) | | | (57,000,000) | |
Gross amounts offset | | 50,000,000 | | | 16,000,000 | |
Derivative Liability | [4] | (28,000,000) | | | (41,000,000) | |
Natural gas derivatives [Member] | Other Liabilities [Member] | | | | | | |
Derivative, Fair Value, Net [Abstract] | | | | | | |
Gross Amounts Recognized | [3] | (28,000,000) | | | (10,000,000) | |
Gross amounts offset | | 20,000,000 | | | 5,000,000 | |
Derivative Liability | [4] | (8,000,000) | | | (5,000,000) | |
Natural gas derivatives [Member] | Designated as Fair Value Hedge [Member] | Current Liabilities [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative Asset, Fair Value, Gross Asset | [5],[6],[7] | 1,000,000 | | | | |
Derivative Liability, Fair Value, Gross Liability | [5],[6],[7] | 5,000,000 | | | | |
Natural gas derivatives [Member] | Not Designated as Hedging Instrument [Member] | Current Assets [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative Asset, Fair Value, Gross Asset | [5] | 78,000,000 | [6],[7] | | 79,000,000 | [8],[9] |
Derivative Liability, Fair Value, Gross Liability | [5] | 15,000,000 | [6],[7] | | 14,000,000 | [8],[9] |
Natural gas derivatives [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative Asset, Fair Value, Gross Asset | [5] | 46,000,000 | [6],[7] | | 24,000,000 | [8],[9] |
Derivative Liability, Fair Value, Gross Liability | [5] | 0 | [6],[7] | | 5,000,000 | [8],[9] |
Natural gas derivatives [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative Asset, Fair Value, Gross Asset | [5] | 33,000,000 | [6],[7] | | 2,000,000 | [8],[9] |
Derivative Liability, Fair Value, Gross Liability | [5] | 58,000,000 | [6],[7] | | 43,000,000 | [8],[9] |
Natural gas derivatives [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative Asset, Fair Value, Gross Asset | [5] | 10,000,000 | [6],[7] | | 0 | [8],[9] |
Derivative Liability, Fair Value, Gross Liability | [5] | $ 28,000,000 | [6],[7] | | $ 5,000,000 | [8],[9] |
Natural gas derivatives [Member] | Long [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative, Nonmonetary Notional Amount, Volume | Bcf | | 114 | | | 59 | |
IDS Derivative [Member] | Gains (losses) in Other Income (Expense) [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | | $ (10,000,000) | | $ (56,000,000) | | |
IDS Derivative [Member] | Not Designated as Hedging Instrument [Member] | Current Liabilities [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative Asset, Fair Value, Gross Asset | | 0 | | | $ 0 | |
Derivative Liability, Fair Value, Gross Liability | | $ 727,000,000 | | | $ 717,000,000 | |
Swap [Member] | Natural gas derivatives [Member] | Long [Member] | | | | | | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | | | | | | |
Derivative, Nonmonetary Notional Amount, Volume | Bcf | | 186 | | | 126 | |
| |
[1] | No derivatives were designated as fair value hedges as of December 31, 2016. | |
[2] | Hedge ineffectiveness results from the basis ineffectiveness discussed above, and excludes the impact to natural gas expense from timing ineffectiveness. Timing ineffectiveness arises due to changes in the difference between the spot price and the futures price, as well as the difference between the timing of the settlement of the futures and the valuation of the underlying physical commodity. As the commodity contract nears the settlement date, spot-to-forward price differences should converge, which should reduce or eliminate the impact of this ineffectiveness on natural gas expense. | |
[3] | Gross amounts recognized include some derivative assets and liabilities that are not subject to master netting arrangements. | |
[4] | The derivative assets and liabilities on the Condensed Consolidated Balance Sheets exclude accounts receivable or accounts payable that, should they exist, could be used as offsets to these balances in the event of a default. | |
[5] | Derivative Assets and Derivative Liabilities include no material amounts related to physical forward transactions with Enable. | |
[6] | Natural gas contracts are presented on a net basis in the Condensed Consolidated Balance Sheets as they are subject to master netting arrangements. This netting applies to all undisputed amounts due or past due and causes derivative assets (liabilities) to be ultimately presented net in a liability (asset) account within the Condensed Consolidated Balance Sheets. The net of total non-trading natural gas derivative assets and liabilities was a $74 million asset as shown on CenterPoint Energy’s Condensed Consolidated Balance Sheets (and as detailed in the table below), and was comprised of the natural gas contracts derivative assets and liabilities separately shown above, impacted by collateral netting of $12 million. | |
[7] | The fair value shown for natural gas contracts is comprised of derivative gross volumes totaling 1,905 Bcf or a net 114 Bcf long position. Of the net long position, basis swaps constitute a net 186 Bcf long position. | |
[8] | Natural gas contracts are presented on a net basis in the Condensed Consolidated Balance Sheets as they are subject to master netting arrangements. This netting applies to all undisputed amounts due or past due and causes derivative assets (liabilities) to be ultimately presented net in a liability (asset) account within the Condensed Consolidated Balance Sheets. The net of total non-trading natural gas derivative assets and liabilities was a $24 million asset as shown on CenterPoint Energy’s Condensed Consolidated Balance Sheets (and as detailed in the table below), and was comprised of the natural gas contracts derivative assets and liabilities separately shown above, impacted by collateral netting of $14 million. | |
[9] | The fair value shown for natural gas contracts is comprised of derivative gross volumes totaling 1,035 Bcf or a net 59 Bcf long position. Of the net long position, basis swaps constitute a net 126 Bcf long position. | |