Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2013 | |
Entity Information | ' |
Entity Registrant Name | 'GenOn Energy, Inc. |
Entity Central Index Key | '0001126294 |
Document Type | '10-Q |
Document Period End Date | 30-Sep-13 |
Current Fiscal Year End Date | '--12-31 |
Amendment Flag | 'false |
Entity Filer Category | 'Non-accelerated Filer |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'Q3 |
Entity Common Stock, Shares Outstanding | 1 |
Entity Well-known Seasoned Issuer | 'No |
Entity Voluntary Filers | 'Yes |
Entity Current Reporting Status | 'Yes |
GenOn Americas Generation | ' |
Entity Information | ' |
Entity Registrant Name | 'GenOn Americas Generation, LCC |
Entity Central Index Key | '0001140761 |
Document Type | '10-Q |
Document Period End Date | 30-Sep-13 |
Amendment Flag | 'false |
Entity Filer Category | 'Non-accelerated Filer |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'Q3 |
Entity Common Stock, Shares Outstanding | 0 |
Entity Well-known Seasoned Issuer | 'No |
Entity Voluntary Filers | 'Yes |
Entity Current Reporting Status | 'Yes |
GenOn Mid-Atlantic | ' |
Entity Information | ' |
Entity Registrant Name | 'GenOn Mid-Atlantic, LLC |
Entity Central Index Key | '0001138258 |
Document Type | '10-Q |
Document Period End Date | 30-Sep-13 |
Amendment Flag | 'false |
Entity Filer Category | 'Non-accelerated Filer |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'Q3 |
Entity Common Stock, Shares Outstanding | 0 |
Entity Well-known Seasoned Issuer | 'No |
Entity Voluntary Filers | 'Yes |
Entity Current Reporting Status | 'Yes |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Successor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Total operating revenues | $811 | ' | $1,966 | ' |
Operating Costs and Expenses | ' | ' | ' | ' |
Depreciation and amortization | 60 | ' | 181 | ' |
Acquisition-related transaction and integration costs | 13 | ' | 54 | ' |
Total operating costs and expenses | 651 | ' | 1,848 | ' |
Operating Income/(Loss) | 160 | ' | 118 | ' |
Other Income/(Expense) | ' | ' | ' | ' |
Other income/(expense), net | 2 | ' | 4 | ' |
Interest expense | -51 | ' | -154 | ' |
Loss on debt extinguishment | ' | ' | -11 | ' |
Total other income (expense), net | -49 | ' | -161 | ' |
Income/(Loss) Before Income Taxes | 111 | ' | -43 | ' |
Income tax expense/(benefit) | 0 | ' | -6 | ' |
Net Income/(Loss) | 111 | ' | -37 | ' |
Predecessor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Total operating revenues | ' | 755 | ' | 1,997 |
Operating Costs and Expenses | ' | ' | ' | ' |
Depreciation and amortization | ' | 91 | ' | 269 |
Acquisition-related transaction and integration costs | ' | 7 | ' | 11 |
Total operating costs and expenses | ' | 751 | ' | 2,077 |
Operating Income/(Loss) | ' | 4 | ' | -80 |
Other Income/(Expense) | ' | ' | ' | ' |
Other income/(expense), net | ' | 1 | ' | 3 |
Interest expense | ' | -86 | ' | -260 |
Total other income (expense), net | ' | -85 | ' | -257 |
Income/(Loss) Before Income Taxes | ' | -81 | ' | -337 |
Income tax expense/(benefit) | ' | 4 | ' | 8 |
Net Income/(Loss) | ' | -85 | ' | -345 |
GenOn Americas Generation | Successor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Total operating revenues | 769 | ' | 1,939 | ' |
Operating Costs and Expenses | ' | ' | ' | ' |
Depreciation and amortization | 20 | ' | 61 | ' |
Total operating costs and expenses | 674 | ' | 1,842 | ' |
Operating Income/(Loss) | 95 | ' | 97 | ' |
Other Income/(Expense) | ' | ' | ' | ' |
Total other income (expense), net | -18 | ' | -54 | ' |
Income/(Loss) Before Income Taxes | 77 | ' | 43 | ' |
Income tax expense/(benefit) | 0 | ' | 0 | ' |
Net Income/(Loss) | 77 | ' | 43 | ' |
GenOn Americas Generation | Predecessor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Total operating revenues | ' | 848 | ' | 2,054 |
Operating Costs and Expenses | ' | ' | ' | ' |
Depreciation and amortization | ' | 41 | ' | 122 |
Total operating costs and expenses | ' | 891 | ' | 2,091 |
Operating Income/(Loss) | ' | -43 | ' | -37 |
Other Income/(Expense) | ' | ' | ' | ' |
Total other income (expense), net | ' | -19 | ' | -58 |
Income/(Loss) Before Income Taxes | ' | -62 | ' | -95 |
Income tax expense/(benefit) | ' | 0 | ' | 0 |
Net Income/(Loss) | ' | -62 | ' | -95 |
GenOn Mid-Atlantic | Successor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Total operating revenues | 297 | ' | 638 | ' |
Operating Costs and Expenses | ' | ' | ' | ' |
Depreciation and amortization | 17 | ' | 47 | ' |
Total operating costs and expenses | 208 | ' | 556 | ' |
Operating Income/(Loss) | 89 | ' | 82 | ' |
Other Income/(Expense) | ' | ' | ' | ' |
Total other income (expense), net | -2 | ' | -4 | ' |
Income/(Loss) Before Income Taxes | 87 | ' | 78 | ' |
Income tax expense/(benefit) | 0 | 0 | 0 | 0 |
Net Income/(Loss) | 87 | ' | 78 | ' |
GenOn Mid-Atlantic | Predecessor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Total operating revenues | ' | 201 | ' | 729 |
Operating Costs and Expenses | ' | ' | ' | ' |
Depreciation and amortization | ' | 30 | ' | 89 |
Total operating costs and expenses | ' | 229 | ' | 740 |
Operating Income/(Loss) | ' | -28 | ' | -11 |
Other Income/(Expense) | ' | ' | ' | ' |
Total other income (expense), net | ' | -1 | ' | -4 |
Income/(Loss) Before Income Taxes | ' | -29 | ' | -15 |
Income tax expense/(benefit) | ' | 0 | ' | 0 |
Net Income/(Loss) | ' | -29 | ' | -15 |
Non-affiliate | Successor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | 794 | ' | 1,934 | ' |
Total operating revenues | 794 | ' | 1,934 | ' |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | 445 | ' | 1,317 | ' |
Selling, general and administrative | 30 | ' | 83 | ' |
Non-affiliate | Predecessor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | ' | 755 | ' | 1,997 |
Total operating revenues | ' | ' | ' | 1,997 |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | ' | 551 | ' | 1,585 |
Selling, general and administrative | ' | 55 | ' | 165 |
Non-affiliate | GenOn Americas Generation | Successor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | 769 | ' | 1,834 | ' |
Total operating revenues | 769 | ' | 1,834 | ' |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | 235 | ' | 679 | ' |
Selling, general and administrative | 3 | ' | 8 | ' |
Other Income/(Expense) | ' | ' | ' | ' |
Interest expense | -16 | ' | -49 | ' |
Non-affiliate | GenOn Americas Generation | Predecessor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | ' | 690 | ' | 1,861 |
Total operating revenues | ' | 690 | ' | 1,861 |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | ' | 298 | ' | 835 |
Selling, general and administrative | ' | 4 | ' | 14 |
Other Income/(Expense) | ' | ' | ' | ' |
Interest expense | ' | -18 | ' | -54 |
Non-affiliate | GenOn Mid-Atlantic | Successor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | 19 | ' | 25 | ' |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | 64 | ' | 216 | ' |
Other Income/(Expense) | ' | ' | ' | ' |
Interest expense | -1 | ' | -1 | ' |
Non-affiliate | GenOn Mid-Atlantic | Predecessor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | ' | -27 | ' | 108 |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | ' | 56 | ' | 163 |
Other Income/(Expense) | ' | ' | ' | ' |
Interest expense | ' | ' | ' | -1 |
Affiliate | Successor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | 17 | ' | 32 | ' |
Total operating revenues | 17 | ' | 32 | ' |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | 66 | ' | 139 | ' |
Selling, general and administrative | 37 | ' | 74 | ' |
Affiliate | GenOn Americas Generation | Successor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | ' | ' | 105 | ' |
Total operating revenues | 0 | ' | 105 | ' |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | 398 | ' | 1,037 | ' |
Selling, general and administrative | 18 | ' | 57 | ' |
Other Income/(Expense) | ' | ' | ' | ' |
Interest expense | -2 | ' | -5 | ' |
Affiliate | GenOn Americas Generation | Predecessor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | ' | 158 | ' | 193 |
Total operating revenues | ' | 158 | ' | 193 |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | ' | 529 | ' | 1,062 |
Selling, general and administrative | ' | 19 | ' | 58 |
Other Income/(Expense) | ' | ' | ' | ' |
Interest expense | ' | -1 | ' | -4 |
Affiliate | GenOn Mid-Atlantic | Successor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | 278 | ' | 613 | ' |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | 112 | ' | 245 | ' |
Selling, general and administrative | 15 | ' | 48 | ' |
Other Income/(Expense) | ' | ' | ' | ' |
Interest expense | -1 | ' | -3 | ' |
Affiliate | GenOn Mid-Atlantic | Predecessor | ' | ' | ' | ' |
Operating Revenues | ' | ' | ' | ' |
Operating revenues | ' | 228 | ' | 621 |
Operating Costs and Expenses | ' | ' | ' | ' |
Cost of operations | ' | 128 | ' | 443 |
Selling, general and administrative | ' | 15 | ' | 45 |
Other Income/(Expense) | ' | ' | ' | ' |
Interest expense | ' | ($1) | ' | ($3) |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 |
Successor | Successor | Predecessor | Predecessor | |
Net loss | $111 | ($37) | ($85) | ($345) |
Other comprehensive income net of reclassifications, net of tax of $0: | ' | ' | ' | ' |
Unrealized gain/(loss) on derivatives | -18 | -1 | -6 | -18 |
Defined benefit plans | ' | 30 | -7 | -5 |
Other, net | ' | ' | ' | 1 |
Other comprehensive income/(loss) | -18 | 29 | -13 | -22 |
Comprehensive income/(loss) | $93 | ($8) | ($98) | ($367) |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 |
Successor | Successor | Predecessor | Predecessor | |
Other comprehensive income/(loss), tax | $0 | $0 | $0 | $0 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $778 | ' |
Funds deposited by counterparties | 122 | 140 |
Restricted cash | 0 | 18 |
Accounts receivable b trade | 130 | 138 |
Inventory | 442 | 430 |
Cash collateral paid in support of energy risk management activities | 35 | 148 |
Prepayments and other current assets | 178 | 215 |
Total current assets | 2,176 | 2,518 |
Property, Plant and Equipment | ' | ' |
Property, plant and equipment | 3,270 | 3,919 |
Other Assets | ' | ' |
Intangible assets, net of accumulated amortization | 61 | 68 |
Deferred income taxes | 0 | 209 |
Other non-current assets | 160 | 235 |
Total other assets | 516 | 1,024 |
Total Assets | 5,962 | 7,461 |
Current Liabilities | ' | ' |
Current portion of long-term debt and capital leases | 5 | 32 |
Deferred income taxes | 0 | 209 |
Cash collateral received in support of energy risk management activities | 122 | 140 |
Accrued expenses and other current liabilities | 340 | 323 |
Total current liabilities | 836 | 1,144 |
Other Liabilities | ' | ' |
Long-term debt and capital leases | 3,143 | 4,170 |
Out-of-market contracts | 1,021 | 1,077 |
Other non-current liabilities | 521 | 589 |
Total non-current liabilities | 4,730 | 5,960 |
Total Liabilities | 5,566 | 7,104 |
Commitments and Contingencies | ' | ' |
Stockholder's Equity | ' | ' |
Common stock: $0.001 par value, 1 share authorized and issued at June 30, 2013 and December 31, 2012 | 0 | 0 |
Additional paid-in capital | 475 | 427 |
Accumulated deficit | -110 | -72 |
Accumulated other comprehensive income | 31 | 2 |
Total Stockholder's Equity | 396 | 357 |
Total Liabilities and Stockholder's Equity | 5,962 | 7,461 |
GenOn Mid-Atlantic | ' | ' |
Current Assets | ' | ' |
Cash and cash equivalents | 126 | ' |
Accounts receivable b trade | 3 | 4 |
Inventory | 157 | 139 |
Prepayments and other current assets | 101 | 43 |
Total current assets | 756 | 715 |
Property, Plant and Equipment | ' | ' |
Property, plant and equipment | 1,097 | 1,110 |
Other Assets | ' | ' |
Intangible assets, net of accumulated amortization | 1 | 1 |
Other non-current assets | 14 | 0 |
Total other assets | 265 | 456 |
Total Assets | 2,118 | 2,281 |
Current Liabilities | ' | ' |
Current portion of long-term debt and capital leases | 5 | 5 |
Cash collateral received in support of energy risk management activities | 43 | 57 |
Accrued expenses and other current liabilities | 42 | 38 |
Total current liabilities | 184 | 218 |
Other Liabilities | ' | ' |
Long-term debt and capital leases | 6 | 9 |
Out-of-market contracts | 535 | 554 |
Other non-current liabilities | 55 | 56 |
Total non-current liabilities | 624 | 674 |
Total Liabilities | 808 | 892 |
Member's Equity | ' | ' |
Members' interest | 1,310 | 1,389 |
Total member's equity | 1,310 | 1,389 |
Total Liabilities and Member's Equity | 2,118 | 2,281 |
GenOn Americas Generation | ' | ' |
Current Assets | ' | ' |
Cash and cash equivalents | 124 | ' |
Accounts receivable b trade | 111 | 125 |
Inventory | 256 | 226 |
Cash collateral paid in support of energy risk management activities | 24 | 91 |
Prepayments and other current assets | 83 | 61 |
Total current assets | 1,440 | 1,505 |
Property, Plant and Equipment | ' | ' |
Property, plant and equipment | 1,258 | 1,267 |
Other Assets | ' | ' |
Intangible assets, net of accumulated amortization | 60 | 66 |
Other non-current assets | 20 | 13 |
Total other assets | 388 | 615 |
Total Assets | 3,086 | 3,387 |
Current Liabilities | ' | ' |
Current portion of long-term debt and capital leases | 5 | 5 |
Cash collateral received in support of energy risk management activities | 122 | 140 |
Accrued expenses and other current liabilities | 113 | 72 |
Total current liabilities | 572 | 719 |
Other Liabilities | ' | ' |
Long-term debt and capital leases | 946 | 955 |
Out-of-market contracts | 535 | 554 |
Other non-current liabilities | 100 | 101 |
Total non-current liabilities | 1,665 | 1,743 |
Total Liabilities | 2,237 | 2,462 |
Commitments and Contingencies | ' | ' |
Member's Equity | ' | ' |
Members' interest | 849 | 925 |
Total member's equity | 849 | 925 |
Total Liabilities and Member's Equity | 3,086 | 3,387 |
Non-affiliate | ' | ' |
Current Assets | ' | ' |
Derivative instruments | 486 | 596 |
Other Assets | ' | ' |
Derivative instruments | 294 | 511 |
Current Liabilities | ' | ' |
Accounts payable | 133 | 189 |
Derivative instruments | 149 | 237 |
Other Liabilities | ' | ' |
Derivative instruments | 44 | 123 |
Non-affiliate | GenOn Mid-Atlantic | ' | ' |
Current Assets | ' | ' |
Derivative instruments | 306 | 285 |
Other Assets | ' | ' |
Derivative instruments | 146 | 351 |
Current Liabilities | ' | ' |
Accounts payable | 16 | 16 |
Derivative instruments | 2 | 3 |
Non-affiliate | GenOn Americas Generation | ' | ' |
Current Assets | ' | ' |
Derivative instruments | 483 | 596 |
Other Assets | ' | ' |
Derivative instruments | 293 | 511 |
Current Liabilities | ' | ' |
Accounts payable | 56 | 69 |
Derivative instruments | 146 | 228 |
Other Liabilities | ' | ' |
Derivative instruments | 43 | 82 |
Affiliate | ' | ' |
Current Assets | ' | ' |
Derivative instruments | 5 | 8 |
Other Assets | ' | ' |
Derivative instruments | 1 | 1 |
Current Liabilities | ' | ' |
Accounts payable | 75 | 6 |
Derivative instruments | 12 | 8 |
Other Liabilities | ' | ' |
Derivative instruments | 1 | 1 |
Affiliate | GenOn Mid-Atlantic | ' | ' |
Current Assets | ' | ' |
Derivative instruments | 63 | 109 |
Other Assets | ' | ' |
Derivative instruments | 104 | 104 |
Current Liabilities | ' | ' |
Accounts payable | 0 | 2 |
Derivative instruments | 76 | 97 |
Other Liabilities | ' | ' |
Derivative instruments | 28 | 55 |
Affiliate | GenOn Americas Generation | ' | ' |
Current Assets | ' | ' |
Note receivable b affiliate | 299 | 198 |
Derivative instruments | 60 | 60 |
Other Assets | ' | ' |
Derivative instruments | 15 | 25 |
Current Liabilities | ' | ' |
Accounts payable | 23 | 71 |
Derivative instruments | 107 | 134 |
Other Liabilities | ' | ' |
Derivative instruments | $41 | $51 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Property, plant and equipment, accumulated depreciation | $186 | $9 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized (in shares) | 1 | 1 |
Common stock, shares issued (in shares) | 1 | 1 |
Intangible assets, accumulated amortization | 24 | 1 |
GenOn Americas Generation | ' | ' |
Property, plant and equipment, accumulated depreciation | 65 | 4 |
Intangible assets, accumulated amortization | 23 | 1 |
GenOn Mid-Atlantic | ' | ' |
Property, plant and equipment, accumulated depreciation | $50 | $4 |
CONDENSED_CONSOLIDATED_STATEME3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | ||||||||||
In Millions, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 |
Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | ||
GenOn Americas Generation | GenOn Mid-Atlantic | Affiliate | Affiliate | GenOn Americas Generation | GenOn Mid-Atlantic | Affiliate | Affiliate | ||||
GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Americas Generation | GenOn Mid-Atlantic | ||||||||
Cash Flows from Operating Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ' | ($37) | $43 | $78 | ' | ' | ($345) | ($95) | ($15) | ' | ' |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | 181 | 61 | 47 | ' | ' | 269 | 122 | 89 | ' | ' |
Amortization of financing costs and debt discount/premiums | ' | -57 | -6 | ' | ' | ' | 13 | ' | ' | ' | ' |
Amortization of acquired and out-of-market contracts | ' | -33 | -6 | -8 | ' | ' | -20 | 16 | 14 | ' | ' |
Amortization of unearned equity compensation | ' | 8 | ' | ' | ' | ' | 15 | ' | ' | ' | ' |
Adjustment to loss on debt extinguishment | ' | -28 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on disposals and sales of assets | ' | ' | 5 | 5 | ' | ' | -9 | -1 | -1 | ' | ' |
Impairment losses | ' | ' | ' | ' | ' | ' | 47 | ' | ' | ' | ' |
Changes in derivative instruments | ' | 200 | 183 | 181 | ' | ' | 229 | 175 | 162 | ' | ' |
Excess materials and supplies inventory reserve | ' | ' | ' | ' | ' | ' | 35 | 6 | 4 | ' | ' |
Lower of cost or market inventory adjustments | ' | ' | ' | ' | ' | ' | 82 | 45 | 45 | ' | ' |
Advance settlement of out-of-market contract obligation | ' | ' | ' | ' | ' | ' | -20 | ' | ' | ' | ' |
Potomac River settlement reversal | ' | ' | ' | ' | ' | ' | -31 | -31 | -31 | ' | ' |
Changes in collateral deposits supporting energy risk management activities | ' | 113 | 49 | -14 | ' | ' | 15 | 49 | 106 | ' | ' |
Changes in other working capital | ' | 136 | -68 | -97 | ' | ' | -55 | -52 | -92 | ' | ' |
Net Cash Provided by Operating Activities | ' | 483 | 261 | 192 | ' | ' | 225 | 234 | 281 | ' | ' |
Cash Flows from Investing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net proceeds from sale of NRG Marsh Landing | ' | 175 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures | ' | -241 | -44 | -38 | ' | ' | -486 | -175 | -151 | ' | ' |
Proceeds from sale of assets, net | ' | ' | 0 | ' | ' | ' | 14 | 1 | ' | ' | ' |
Decrease in restricted cash, net | ' | 18 | ' | ' | ' | ' | 158 | 166 | 166 | ' | ' |
Increase in note receivable b affiliate | ' | ' | ' | ' | -101 | ' | ' | ' | ' | -6 | ' |
Purchase of emission allowances, net of proceeds | 0 | -14 | -14 | ' | ' | ' | ' | ' | ' | ' | ' |
Net Cash Used by Investing Activities | ' | -62 | -159 | -38 | ' | ' | -314 | -14 | 15 | ' | ' |
Cash Flows from Financing Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of long-term debt | ' | 110 | ' | ' | ' | ' | 243 | ' | ' | ' | ' |
Payments for short and long-term debt | ' | -578 | -3 | -3 | ' | ' | -8 | -3 | -3 | ' | ' |
Increase of note payable b affiliate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41 | ' |
Capital contributions | ' | ' | ' | ' | 37 | ' | ' | ' | ' | ' | ' |
Distributions to member | ' | ' | ' | ' | -160 | -160 | ' | ' | ' | -190 | -190 |
Net Cash (Used)/Provided by Financing Activities | ' | -468 | -126 | -163 | ' | ' | 235 | -152 | -193 | ' | ' |
Net (Decrease)/Increase in Cash and Cash Equivalents | ' | -47 | -24 | -9 | ' | ' | 146 | 68 | 103 | ' | ' |
Cash and Cash Equivalents at Beginning of Period | ' | 825 | 148 | 135 | ' | ' | 1,539 | 267 | 68 | ' | ' |
Cash and Cash Equivalents at Beginning of Period | ' | $778 | $124 | $126 | ' | ' | $1,685 | $335 | $171 | ' | ' |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Basis of Presentation Disclosure [Abstract] | ' |
Basis of Presentation (GenOn, GenOn Americas Generation, GenOn Mid-Atlantic) | ' |
Basis of Presentation (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | |
GenOn Energy, Inc., a wholly-owned subsidiary of NRG, is a wholesale power generator engaged in the ownership and operation of power generation facilities, with approximately 20,242 MW of net electric generating capacity located in the U.S. | |
GenOn Americas Generation is a wholesale power generator with approximately 7,852 MW of net electric generating capacity located, in many cases, near major metropolitan areas. GenOn Americas Generation's electric generating capacity is part of the 20,242 MW of net electric generating capacity of GenOn. | |
GenOn Mid-Atlantic operates and owns or leases 4,683 MW of net electric generating capacity in Maryland near Washington, D.C. GenOn Mid-Atlantic’s electric generating capacity is part of the 7,852 MW of net electric generating capacity of GenOn Americas Generation. GenOn Mid-Atlantic’s generating facilities serve the Eastern PJM markets. | |
GenOn Americas Generation and GenOn Mid-Atlantic are Delaware limited liability companies and indirect wholly-owned subsidiaries of GenOn. GenOn Mid-Atlantic is a wholly-owned subsidiary of NRG North America and an indirect wholly-owned subsidiary of GenOn Americas Generation. | |
The Registrants sell power from their generation portfolio, offer capacity or similar products to retail electric providers and others, and provide Ancillary Services to support system reliability. | |
This is a combined quarterly report of the Registrants for the quarter ended September 30, 2013. The notes to the condensed consolidated financial statements apply to the Registrants as indicated parenthetically next to each corresponding disclosure. The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with the SEC's regulations for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. The following notes should be read in conjunction with the accounting policies and other disclosures as set forth in the notes to the Registrants' financial statements set forth in the 2012 Form 10-K. Interim results are not necessarily indicative of results for a full year. | |
In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements contain all material adjustments consisting of normal and recurring accruals necessary to present fairly the Registrants' consolidated financial positions as of September 30, 2013, and the results of operations, comprehensive loss and cash flows for the three and nine months ended September 30, 2013, and 2012. | |
NRG Merger, Predecessor and Successor Reporting | |
On December 14, 2012, NRG completed the acquisition of GenOn with GenOn continuing as a wholly-owned subsidiary of NRG. The NRG Merger is accounted for under the acquisition method of accounting. Fair value adjustments related to the NRG Merger have been pushed down to GenOn, GenOn Americas Generation and GenOn Mid-Atlantic, resulting in certain assets and liabilities of the Registrants being recorded at fair value at December 15, 2012. See Note 3, NRG Merger, for further discussion. | |
The Registrants’ consolidated statements of operations subsequent to the NRG Merger include amortization expense relating to fair value adjustments and depreciation expense based on the fair value of the Registrants’ property, plant and equipment. In addition, effective with the NRG Merger, the Registrants adopted accounting policies of NRG. Therefore, the Registrants' financial information prior to the NRG Merger is not comparable to its financial information subsequent to the NRG Merger. | |
As a result of the impact of pushdown accounting, the financial statements and certain note presentations separate the Registrants' presentations into two distinct periods, the period before the consummation of the NRG Merger (labeled predecessor) and the period after that date (labeled successor), to indicate the application of different basis of accounting between the periods presented. | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |
Reclassifications | |
Certain prior-year amounts have been reclassified for comparative purposes. The reclassification did not affect results from operations. The Registrants reclassified certain balances from cash and cash equivalents to funds deposited by counterparties, which impacted cash flows from operations in the prior year. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Significant Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | ' |
Summary of Significant Accounting Policies (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | |
Recent Accounting Developments | |
ASU 2011-11 — Effective January 1, 2013, the Registrants adopted the provisions of ASU No. 2011-11, Balance Sheet (Topic 210) Disclosures about Offsetting Assets and Liabilities, or ASU No. 2011-11, and began providing enhanced disclosures regarding the effect or potential effect of netting arrangements on an entity's financial position by improving information about financial instruments and derivative instruments that either (1) offset in accordance with either ASC 210-20-45 or ASC 810-20-45 or (2) are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset. Reporting entities are required to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. The disclosures required by ASU No. 2011-11 are required to be adopted retroactively. As this guidance provides only disclosure requirements, the adoption of this standard did not impact the Registrants' results of operations, cash flows or financial position. | |
ASU 2013-02 (GenOn) - Effective January 1, 2013, the Registrants adopted the provisions of ASU No. 2013-02, Other Comprehensive Income (Topic 220) Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, or ASU No. 2013-02, and began reporting the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income within the notes to the financial statements if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income in the same reporting period. For other amounts not required by U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures which provide additional information about the amounts. The provisions of ASU No. 2013-02 are required to be adopted prospectively. As this guidance provides only presentation requirements, the adoption of this standard did not impact GenOn's results of operations, cash flows or financial position. |
NRG_Merger
NRG Merger | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||||||
NRG Merger (GenOn, GenOn Americas Generation, GenOn Mid-Atlantic) | ' | |||||||||||||||||||
NRG Merger (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | ||||||||||||||||||||
On December 14, 2012, NRG completed the acquisition of GenOn. Consideration for the acquisition was valued at $2.2 billion and was comprised of 0.1216 shares of NRG common stock for each outstanding share of GenOn, including restricted stock units outstanding on the acquisition date, except for fractional shares which were paid in cash. | ||||||||||||||||||||
The acquisition was recorded as a business combination, with identifiable assets acquired and liabilities assumed provisionally recorded at their estimated fair values on the acquisition date. The initial accounting for the business combination is not complete because the evaluations necessary to assess the fair value of certain net assets acquired is still in process. See Note 3, NRG Merger, in the Registrants' 2012 Form 10-K for additional information related to the NRG Merger. | ||||||||||||||||||||
The following tables summarize the historical carrying amounts, the acquisition accounting adjustments, the preliminary acquisition-date fair value and the measurement period adjustments through September 30, 2013 to the provisional allocation for assets acquired and liabilities assumed initially recorded in 2012 due to the ongoing evaluation of initial estimates. The allocation of the purchase price may be modified up to one year from the date of acquisition as more information is obtained about the fair value of assets acquired and liabilities assumed. | ||||||||||||||||||||
GenOn | ||||||||||||||||||||
Historical carrying amount | Acquisition accounting adjustment | Acquisition-date fair value as reported in 2012 10-K | Measurement period adjustments | Revised acquisition-date fair value | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash | $ | 983 | $ | — | $ | 983 | $ | — | $ | 983 | ||||||||||
Other current and non-current assets | 2,049 | (664 | ) | 1,385 | (18 | ) | 1,367 | |||||||||||||
Property, plant and equipment | 6,286 | (2,350 | ) | 3,936 | (27 | ) | 3,909 | |||||||||||||
Derivative assets | 1,143 | 14 | 1,157 | — | 1,157 | |||||||||||||||
Deferred income taxes | 220 | — | 220 | — | 220 | |||||||||||||||
Total assets | $ | 10,681 | $ | (3,000 | ) | $ | 7,681 | $ | (45 | ) | $ | 7,636 | ||||||||
Liabilities | ||||||||||||||||||||
Other current and non-current liabilities | $ | 1,299 | $ | 13 | 1,312 | $ | (7 | ) | $ | 1,305 | ||||||||||
Out-of-market contracts and leases | 331 | 733 | 1,064 | 15 | 1,079 | |||||||||||||||
Derivative liabilities | 414 | (15 | ) | 399 | — | 399 | ||||||||||||||
Deferred income taxes | 220 | — | 220 | — | 220 | |||||||||||||||
Long-term debt and capital leases | 3,725 | 478 | 4,203 | 3 | 4,206 | |||||||||||||||
Total liabilities | $ | 5,989 | $ | 1,209 | $ | 7,198 | $ | 11 | $ | 7,209 | ||||||||||
Net assets | $ | 4,692 | $ | (4,209 | ) | $ | 483 | $ | (56 | ) | $ | 427 | ||||||||
GenOn Americas Generation | ||||||||||||||||||||
Historical carrying amount | Acquisition accounting adjustment | Acquisition-date fair value as reported in 2012 10-K | Measurement period adjustments | Revised acquisition-date fair value | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash | $ | 171 | $ | — | $ | 171 | $ | — | $ | 171 | ||||||||||
Other current and non-current assets | 1,509 | (531 | ) | 978 | (14 | ) | 964 | |||||||||||||
Property, plant and equipment | 2,875 | (1,546 | ) | 1,329 | (60 | ) | 1,269 | |||||||||||||
Derivative assets | 1,226 | 12 | 1,238 | — | 1,238 | |||||||||||||||
Total assets | $ | 5,781 | $ | (2,065 | ) | $ | 3,716 | $ | (74 | ) | $ | 3,642 | ||||||||
Liabilities | ||||||||||||||||||||
Other current and non-current liabilities | $ | 705 | $ | (34 | ) | $ | 671 | $ | (2 | ) | $ | 669 | ||||||||
Out-of-market contracts and leases | — | 540 | 540 | 15 | 555 | |||||||||||||||
Derivative liabilities | 539 | (10 | ) | 529 | — | 529 | ||||||||||||||
Long-term debt and capital leases | 862 | 99 | 961 | — | 961 | |||||||||||||||
Total liabilities | $ | 2,106 | $ | 595 | $ | 2,701 | $ | 13 | $ | 2,714 | ||||||||||
Net assets | $ | 3,675 | $ | (2,660 | ) | $ | 1,015 | $ | (87 | ) | $ | 928 | ||||||||
GenOn Mid-Atlantic | ||||||||||||||||||||
Historical carrying amount | Acquisition accounting adjustment | Acquisition-date fair value as reported in 2012 10-K | Measurement period adjustments | Revised acquisition-date fair value | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash | $ | 163 | $ | — | $ | 163 | $ | — | $ | 163 | ||||||||||
Other current and non-current assets | 700 | (502 | ) | 198 | (12 | ) | 186 | |||||||||||||
Property, plant and equipment | 2,399 | (1,178 | ) | 1,221 | (110 | ) | 1,111 | |||||||||||||
Derivative assets | 851 | 12 | 863 | — | 863 | |||||||||||||||
Total assets | $ | 4,113 | $ | (1,668 | ) | $ | 2,445 | $ | (122 | ) | $ | 2,323 | ||||||||
Liabilities | ||||||||||||||||||||
Other current and non-current liabilities | $ | 198 | $ | 6 | $ | 204 | — | $ | 204 | |||||||||||
Out-of-market contracts and leases | — | 540 | 540 | 15 | 555 | |||||||||||||||
Derivative liabilities | 172 | (10 | ) | 162 | — | 162 | ||||||||||||||
Long-term debt and capital leases | 14 | — | 14 | — | 14 | |||||||||||||||
Total liabilities | $ | 384 | $ | 536 | $ | 920 | $ | 15 | $ | 935 | ||||||||||
Net assets | $ | 3,729 | $ | (2,204 | ) | $ | 1,525 | $ | (137 | ) | $ | 1,388 | ||||||||
The estimated fair values of the property, plant and equipment were significantly lower than the book value, which reflects changes to expected market dynamics, including commodity prices, resulting in lower estimated cash flows and in some cases, shorter useful lives of the underlying assets. The measurement period adjustments for property, plant and equipment primarily reflect revisions of various estimates based on additional information available. In addition, the difference between the historical tax basis of the assets and liabilities over the net amount assigned to the assets and liabilities in acquisition accounting was recorded as a net deferred tax asset. Based on cumulative pre-tax losses, a valuation allowance for the full amount of the net deferred tax assets was also recorded. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Fair Value of Financial Instruments Disclosure [Abstract] | ' | |||||||||||||||||
Fair Value of Financial Instruments (GenOn, GenOn Americas Generation, GenOn Mid-Atlantic) | ' | |||||||||||||||||
Fair Value of Financial Instruments (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | ||||||||||||||||||
This footnote should be read in conjunction with the complete description under Note 5, Fair Value of Financial Instruments, to the Registrants' 2012 Form 10-K. | ||||||||||||||||||
For cash and cash equivalents, funds deposited by counterparties (GenOn), accounts receivable, note receivable — affiliate (GenOn Americas Generation), accounts payable, accrued expenses and other current liabilities, restricted cash, and cash collateral paid and received in support of energy risk management activities, the carrying amount approximates fair value because of the short-term maturity of those instruments and are classified as Level 1 within the fair value hierarchy. | ||||||||||||||||||
The estimated carrying amounts and fair values of GenOn and GenOn Americas Generation’s long-term debt, including current portion, are as follows: | ||||||||||||||||||
GenOn | ||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||||
(In millions) | ||||||||||||||||||
Long-term debt, including current portion | $ | 3,135 | $ | 3,066 | $ | 4,185 | $ | 4,195 | ||||||||||
GenOn Americas Generation | ||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||||
(In millions) | ||||||||||||||||||
Long-term debt, including current portion | $ | 940 | $ | 902 | $ | 946 | $ | 953 | ||||||||||
The fair value of GenOn and GenOn Americas Generation's publicly-traded long-term debt is based on quoted market prices and is classified as Level 1 within the fair value hierarchy. The fair value of GenOn's non publicly-traded long-term debt is estimated using current interest rates for similar instruments with equivalent credit quality and is classified as Level 3 within the fair value hierarchy. | ||||||||||||||||||
Recurring Fair Value Measurements | ||||||||||||||||||
Derivative assets and liabilities and trust fund investments are carried at fair market value. Realized and unrealized gains and losses included in earnings that are related to energy derivatives are recorded in operating revenues and cost of operations. | ||||||||||||||||||
GenOn | ||||||||||||||||||
The following tables present assets and liabilities (including affiliate amounts) measured and recorded at fair value on GenOn’s consolidated balance sheet on a recurring basis and their level within the fair value hierarchy. On July 22, 2013, concurrent with the initial public offering of NRG Yield, Inc., GenOn sold its ownership interests in NRG Marsh Landing Holdings LLC to NRG Yield LLC, which included assuming the interest rate swap liability. | ||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 137 | $ | 631 | $ | 18 | $ | 786 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 34 | $ | 159 | $ | 13 | $ | 206 | ||||||||||
Other assets (a) | $ | 37 | $ | — | $ | — | $ | 37 | ||||||||||
(a) | Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. | |||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 139 | $ | 946 | $ | 31 | $ | 1,116 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 52 | $ | 253 | $ | 14 | $ | 319 | ||||||||||
Interest rate contracts | — | 50 | — | 50 | ||||||||||||||
Total liabilities | $ | 52 | $ | 303 | $ | 14 | $ | 369 | ||||||||||
Other assets (a) | $ | 43 | $ | — | $ | — | $ | 43 | ||||||||||
(a) | Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. | |||||||||||||||||
There were no transfers during the three and nine months ended September 30, 2013 and 2012 between Levels 1 and 2. Transfers in/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. There were no transfers in/out of Level 3 during the three and nine months ended September 30, 2013 and 2012. The following tables reconcile, for the three and nine months ended September 30, 2013 and 2012, the beginning and ending balances for derivatives that are recognized at fair value in GenOn’s consolidated financial statements at least annually using significant unobservable inputs: | ||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||
(In millions) | Derivatives (a) | Derivatives (a) | Derivatives (a) | Derivatives (a) | ||||||||||||||
Beginning balance | $ | 3 | $ | (131 | ) | $ | 17 | $ | (31 | ) | ||||||||
Total gains/(losses) included in earnings — realized/unrealized | 1 | 36 | (15 | ) | (64 | ) | ||||||||||||
Purchases | 1 | — | 3 | — | ||||||||||||||
Ending balance | $ | 5 | $ | (95 | ) | $ | 5 | $ | (95 | ) | ||||||||
Gains/(losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30 | $ | — | $ | 37 | $ | 1 | $ | (99 | ) | |||||||||
(a) | Consists of derivative assets and liabilities, net. | |||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||
The following tables present assets and liabilities (including affiliate amounts) measured and recorded at fair value on GenOn Americas Generation's consolidated balance sheet on a recurring basis and their level within the fair value hierarchy: | ||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 151 | $ | 686 | $ | 14 | $ | 851 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 87 | $ | 240 | $ | 10 | $ | 337 | ||||||||||
As of December 31, 2012 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 170 | $ | 991 | $ | 31 | $ | 1,192 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 123 | $ | 358 | $ | 14 | $ | 495 | ||||||||||
There were no transfers during the three and nine months ended September 30, 2013 and 2012 between Levels 1 and 2. Transfers in/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. There were no transfers in/out of Level 3 during the three and nine months ended September 30, 2013 and 2012. The following tables reconcile, for the three and nine months ended September 30, 2013 and 2012, the beginning and ending balances for GenOn Americas Generation's derivatives that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs: | ||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||
(In millions) | Derivatives (a) | Derivatives (a) | Derivatives (a) | Derivatives (a) | ||||||||||||||
Beginning balance | $ | 3 | $ | (113 | ) | $ | 17 | $ | (32 | ) | ||||||||
Total gains/(losses) included in earnings — realized/unrealized | — | 26 | (16 | ) | (55 | ) | ||||||||||||
Purchases | 1 | — | 3 | — | ||||||||||||||
Ending balance | $ | 4 | $ | (87 | ) | $ | 4 | $ | (87 | ) | ||||||||
(Losses)/gains for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30 | $ | (1 | ) | $ | 27 | $ | — | $ | (93 | ) | ||||||||
(a) Consists of derivative assets and liabilities, net. | ||||||||||||||||||
GenOn Mid-Atlantic | ||||||||||||||||||
The following tables present assets and liabilities (including affiliate amounts) measured and recorded at fair value on GenOn Mid-Atlantic's consolidated balance sheet on a recurring basis and their level within the fair value hierarchy: | ||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 82 | $ | 534 | $ | 3 | $ | 619 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 20 | $ | 86 | $ | — | $ | 106 | ||||||||||
As of December 31, 2012 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 63 | $ | 778 | $ | 8 | $ | 849 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 16 | $ | 138 | $ | 1 | $ | 155 | ||||||||||
There were no transfers during the three and nine months ended September 30, 2013 and 2012 between Levels 1 and 2. Transfers in/out of Level 3 are related to the availability of external broker quotes and are valued as of the end of the reporting period. There were no transfers in/out of Level 3 during the three and nine months ended September 30, 2013 and 2012. The following tables reconcile, for the three and nine months ended September 30, 2013 and 2012, the beginning and ending balances for GenOn Mid-Atlantic's derivatives that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs: | ||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||
(In millions) | Derivatives (a) | Derivatives (a) | Derivatives (a) | Derivatives (a) | ||||||||||||||
Beginning balance | $ | 2 | $ | (138 | ) | $ | 7 | $ | (64 | ) | ||||||||
Total gains/(losses) included in earnings — realized/unrealized | — | 46 | (7 | ) | (28 | ) | ||||||||||||
Purchases | 1 | — | 3 | — | ||||||||||||||
Ending balance | $ | 3 | $ | (92 | ) | $ | 3 | $ | (92 | ) | ||||||||
Gains/(losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30 | $ | — | $ | 45 | $ | 1 | $ | (70 | ) | |||||||||
(a) | Consists of derivative assets and liabilities, net. | |||||||||||||||||
Derivative Fair Value Measurements | ||||||||||||||||||
A portion of the Registrants' contracts are exchange-traded contracts with readily available quoted market prices. A majority of the Registrants' contracts are non-exchange-traded contracts valued using prices provided by external sources, primarily price quotations available through brokers or over-the-counter and on-line exchanges. For the majority of the Registrants' markets, the Registrants receive quotes from multiple sources. To the extent that the Registrants receive multiple quotes, the Registrants' prices reflect the average of the bid-ask mid-point prices obtained from all sources that the Registrants believe provide the most liquid market for the commodity. If the Registrants receive one quote, then the mid-point of the bid-ask spread for that quote is used. The terms for which such price information is available vary by commodity, region and product. A significant portion of the fair value of the Registrants' derivative portfolio is based on price quotes from brokers in active markets who regularly facilitate those transactions and the Registrants believe such price quotes are executable. The Registrants do not use third party sources that derive price based on proprietary models or market surveys. The remainder of the assets and liabilities represents contracts for which external sources or observable market quotes are not available for the whole term or for certain delivery months. These contracts are valued using various valuation techniques including but not limited to internal models that apply fundamental analysis of the market and corroboration with similar markets. As of September 30, 2013, contracts valued with prices provided by models and other valuation techniques make up 2% of GenOn's derivative assets and 6% of GenOn's derivative liabilities, 2% of GenOn Americas Generation’s derivative assets and 3% of GenOn Americas Generation's derivative liabilities and 0% of GenOn Mid-Atlantic’s derivative assets and 0% of GenOn Mid-Atlantic's derivative liabilities. | ||||||||||||||||||
The fair value of each contract is discounted using a risk free interest rate. In addition, the Registrants apply a credit reserve to reflect credit risk which is calculated based on published default probabilities. To the extent that the Registrants’ net exposure under a specific master agreement is an asset, the Registrants use the counterparty's default swap rate. If the net exposure under a specific master agreement is a liability, the Registrants use their default swap rate. The credit reserve is added to the discounted fair value to reflect the exit price that a market participant would be willing to receive to assume the Registrants’ liabilities or that a market participant would be willing to pay for the Registrants’ assets. The Registrants' credit reserves were as follows: | ||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||
(In millions) | ||||||||||||||||||
GenOn | $ | (2 | ) | $ | (4 | ) | ||||||||||||
GenOn Americas Generation | $ | (1 | ) | $ | (4 | ) | ||||||||||||
GenOn Mid-Atlantic | $ | (4 | ) | $ | (4 | ) | ||||||||||||
Concentration of Credit Risk | ||||||||||||||||||
In addition to the credit risk discussion as disclosed in Note 2, Summary of Significant Accounting Policies, to the Registrants' 2012 Form 10-K, the following is a discussion of the concentration of credit risk for the Registrants’ financial instruments. Credit risk relates to the risk of loss resulting from non-performance or non-payment by counterparties pursuant to the terms of their contractual obligations. The Registrants are exposed to counterparty credit risk through various activities including wholesale sales and fuel purchases. | ||||||||||||||||||
Counterparty Credit Risk | ||||||||||||||||||
The Registrants monitor and manage counterparty credit risk through credit policies that include: (i) an established credit approval process; (ii) daily monitoring of counterparties' credit limits; (iii) the use of credit mitigation measures such as margin, collateral, prepayment arrangements, or volumetric limits; (iv) the use of payment netting arrangements; and (v) the use of master netting agreements that allow for the netting of positive and negative exposures of various contracts associated with a single counterparty. Risk surrounding counterparty performance and credit could ultimately impact the amount and timing of expected cash flows. The Registrants seek to mitigate counterparty credit risk with a diversified portfolio of counterparties. The Registrants also have credit protection within various agreements to call on additional collateral support if and when necessary. Cash margin is collected and held to cover the credit risk of the counterparty until positions settle. | ||||||||||||||||||
As of September 30, 2013, GenOn's counterparty credit exposure was $593 million and GenOn held collateral (cash and letters of credit) against those positions of $43 million, resulting in a net exposure of $550 million. Approximately 88% of GenOn's exposure before collateral is expected to roll off by the end of 2014. As of September 30, 2013, GenOn Americas Generation’s counterparty credit exposure was $582 million and GenOn Americas Generation held collateral (cash and letters of credit) against those positions of $43 million, resulting in a net exposure of $539 million. Approximately 88% of GenOn Americas Generation’s exposure before collateral is expected to roll off by the end of 2014. As of September 30, 2013, GenOn Mid-Atlantic’s counterparty credit exposure was $455 million and GenOn Mid-Atlantic held collateral (cash and letters of credit) against those positions of $43 million, resulting in a net exposure of $412 million. Approximately 91% of GenOn Mid-Atlantic’s exposure before collateral is expected to roll off by the end of 2014. Counterparty credit exposure is valued through observable market quotes and discounted at a risk free interest rate. The following tables highlight net counterparty credit exposure by industry sector and by counterparty credit quality. Net counterparty credit exposure is defined as the aggregate net asset position for the Registrants with counterparties where netting is permitted under the enabling agreement and includes all cash flow, mark-to-market, NPNS and non-derivative transactions. The exposure is shown net of collateral held and includes amounts net of receivables or payables. | ||||||||||||||||||
GenOn | ||||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Financial institutions | 76 | % | ||||||||||||||||
Utilities, energy merchants, marketers and other | 15 | % | ||||||||||||||||
ISOs | 8 | % | ||||||||||||||||
Coal | 1 | % | ||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Investment grade | 99 | % | ||||||||||||||||
Non-rated | 1 | % | ||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||
(a) | Counterparty credit exposure excludes transportation contracts because of the unavailability of market prices. | |||||||||||||||||
GenOn has counterparty credit risk exposure to certain counterparties, each of which represent more than 10% of the total net exposure discussed above. The aggregate of such counterparties' exposure was $447 million. Changes in hedge positions and market prices will affect credit exposure and counterparty concentration. Given the credit quality, diversification and term of the exposure in the portfolio, GenOn does not anticipate a material impact on its financial position or results of operations from nonperformance by any of its counterparties. | ||||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Financial institutions | 78 | % | ||||||||||||||||
Utilities, energy merchants, marketers and other | 13 | % | ||||||||||||||||
ISOs | 8 | % | ||||||||||||||||
Coal | 1 | % | ||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Investment grade | 100 | % | ||||||||||||||||
(a) Counterparty credit exposure excludes transportation contracts because of the unavailability of market prices. | ||||||||||||||||||
GenOn Americas Generation has counterparty credit risk exposure to certain counterparties, each of which represent more than 10% of the total net exposure discussed above. The aggregate of such counterparties' exposure was $447 million. Changes in hedge positions and market prices will affect credit exposure and counterparty concentration. Given the credit quality, diversification and term of the exposure in the portfolio, GenOn Americas Generation does not anticipate a material impact on its financial position or results of operations from nonperformance by any of its counterparties. | ||||||||||||||||||
GenOn Mid-Atlantic | ||||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Financial institutions | 100 | % | ||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Investment grade | 100 | % | ||||||||||||||||
(a)Counterparty credit exposure excludes transportation contracts because of the unavailability of market prices. | ||||||||||||||||||
GenOn Mid-Atlantic has counterparty credit risk exposure to certain counterparties, each of which represent more than 10% of the total net exposure discussed above. The aggregate of such counterparties' exposure was $382 million. Changes in hedge positions and market prices will affect credit exposure and counterparty concentration. Given the credit quality, diversification and term of the exposure in the portfolio, GenOn Mid-Atlantic does not anticipate a material impact on its financial position or results of operations from nonperformance by any of its counterparties. |
Accounting_for_Derivative_Inst
Accounting for Derivative Instruments and Hedging Activities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities (GenOn, GenOn Americas Generation, GenOn Mid-Atlantic) | ' | ||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | |||||||||||||||||||||||||
This footnote should be read in conjunction with the complete description under Note 6, Accounting for Derivative Instruments and Hedging Activities, to the Registrants' 2012 Form 10-K. | |||||||||||||||||||||||||
Energy-Related Commodities (GenOn) | |||||||||||||||||||||||||
As of September 30, 2013, GenOn had energy-related derivative financial instruments extending through 2017. | |||||||||||||||||||||||||
Interest Rate Swaps (GenOn) | |||||||||||||||||||||||||
In 2010, NRG Marsh Landing entered into interest rate protection agreements (interest rate swaps) in connection with its project financing, which have been designated as cash flow hedges. NRG Marsh Landing entered into the interest rate swaps to reduce the risk with respect to the variability of the interest rates for term loans. On July 22, 2013, concurrent with the initial public offering of NRG Yield, Inc., GenOn sold its ownership interests in NRG Marsh Landing Holdings LLC to NRG Yield LLC, which included assuming the interest rate swap liability. | |||||||||||||||||||||||||
Volumetric Underlying Derivative Transactions (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | |||||||||||||||||||||||||
The following table summarizes the net notional volume buy/(sell) of the Registrants’ open derivative transactions broken out by commodity, excluding those derivatives that qualified for the NPNS exception as of September 30, 2013 and December 31, 2012. Option contracts are reflected using delta volume. Delta volume equals the notional volume of an option adjusted for the probability that the option will be in-the-money at its expiration date. | |||||||||||||||||||||||||
GenOn | GenOn Americas Generation | GenOn Mid-Atlantic | |||||||||||||||||||||||
Total Volume | Total Volume | Total Volume | |||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | As of September 30, 2013 | As of December 31, 2012 | As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||
Commodity | Units | (In millions) | |||||||||||||||||||||||
Coal | Short Ton | 7 | 5 | 4 | 4 | 4 | 4 | ||||||||||||||||||
Natural Gas | MMBtu | -163 | -194 | -119 | -150 | -119 | -150 | ||||||||||||||||||
Power | MWh | -28 | -43 | -16 | -22 | -16 | -22 | ||||||||||||||||||
Interest | Dollars | $ | — | $ | 475 | $ | — | $ | — | $ | — | $ | — | ||||||||||||
As described in Note 9, Related Party Transactions, GenOn sold NRG Marsh Landing to NRG Yield, Inc. in July of 2013 and accordingly, GenOn no longer holds any interest rate derivative instruments. | |||||||||||||||||||||||||
Fair Value of Derivative Instruments (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | |||||||||||||||||||||||||
The following tables summarize the fair value within the derivative instrument valuation on the balance sheet: | |||||||||||||||||||||||||
GenOn | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Derivatives Designated as Cash Flow Hedges: | |||||||||||||||||||||||||
Interest rate contracts current | $ | — | $ | — | $ | — | $ | 9 | |||||||||||||||||
Interest rate contracts long-term | — | — | — | 41 | |||||||||||||||||||||
Total Derivatives Designated as Cash Flow Hedges | — | — | — | 50 | |||||||||||||||||||||
Derivatives Not Designated as Cash Flow Hedges: | |||||||||||||||||||||||||
Commodity contracts current | 491 | 604 | 161 | 236 | |||||||||||||||||||||
Commodity contracts long-term | 295 | 512 | 45 | 83 | |||||||||||||||||||||
Total Derivatives Not Designated as Cash Flow Hedges | 786 | 1,116 | 206 | 319 | |||||||||||||||||||||
Total Derivatives | $ | 786 | $ | 1,116 | $ | 206 | $ | 369 | |||||||||||||||||
GenOn Americas Generation | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Derivatives Not Designated as Cash Flow Hedges: | |||||||||||||||||||||||||
Commodity contracts current | $ | 543 | $ | 656 | $ | 253 | $ | 362 | |||||||||||||||||
Commodity contracts long-term | 308 | 536 | 84 | 133 | |||||||||||||||||||||
Total Derivatives Not Designated as Cash Flow Hedges | $ | 851 | $ | 1,192 | $ | 337 | $ | 495 | |||||||||||||||||
GenOn Mid-Atlantic | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Derivatives Not Designated as Cash Flow Hedges: | |||||||||||||||||||||||||
Commodity contracts current | $ | 369 | $ | 394 | $ | 78 | $ | 100 | |||||||||||||||||
Commodity contracts long-term | 250 | 455 | 28 | 55 | |||||||||||||||||||||
Total Derivatives Not Designated as Cash Flow Hedges | $ | 619 | $ | 849 | $ | 106 | $ | 155 | |||||||||||||||||
The Registrants have elected to present derivative assets and liabilities on the balance sheet on a trade-by-trade basis and do not offset amounts at the counterparty master agreement level. In addition, collateral received or paid on the Registrants' derivative assets or liabilities are recorded on a separate line item on the balance sheet. The following tables summarize the offsetting of derivatives by counterparty master agreement level and collateral received or paid: | |||||||||||||||||||||||||
GenOn | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
September 30, 2013 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 780 | $ | (162 | ) | $ | (194 | ) | $ | 424 | |||||||||||||||
Derivative assets - affiliate | 6 | (6 | ) | — | — | ||||||||||||||||||||
Derivative liabilities | (193 | ) | 162 | — | (31 | ) | |||||||||||||||||||
Derivative liabilities - affiliate | (13 | ) | 6 | — | (7 | ) | |||||||||||||||||||
Total derivative instruments | $ | 580 | $ | — | $ | (194 | ) | $ | 386 | ||||||||||||||||
GenOn Americas Generation | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
September 30, 2013 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 776 | $ | (162 | ) | $ | (194 | ) | $ | 420 | |||||||||||||||
Derivative assets - affiliate | 75 | (75 | ) | — | — | ||||||||||||||||||||
Derivative liabilities | (189 | ) | 162 | — | (27 | ) | |||||||||||||||||||
Derivative liabilities - affiliate | (148 | ) | 75 | — | (73 | ) | |||||||||||||||||||
Total derivative instruments | $ | 514 | $ | — | $ | (194 | ) | $ | 320 | ||||||||||||||||
GenOn Mid-Atlantic | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
September 30, 2013 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 452 | $ | (2 | ) | $ | (43 | ) | $ | 407 | |||||||||||||||
Derivative assets - affiliate | 167 | (104 | ) | — | 63 | ||||||||||||||||||||
Derivative liabilities | (2 | ) | 2 | — | — | ||||||||||||||||||||
Derivative liabilities - affiliate | (104 | ) | 104 | — | — | ||||||||||||||||||||
Total derivative instruments | $ | 513 | $ | — | $ | (43 | ) | $ | 470 | ||||||||||||||||
GenOn | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
December 31, 2012 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 1,107 | $ | (260 | ) | $ | (243 | ) | $ | 604 | |||||||||||||||
Derivative assets - affiliate | 9 | (9 | ) | — | — | ||||||||||||||||||||
Derivative liabilities | (310 | ) | 260 | 1 | (49 | ) | |||||||||||||||||||
Derivative liabilities - affiliate | (9 | ) | 9 | — | — | ||||||||||||||||||||
Total commodity contracts | 797 | — | (242 | ) | 555 | ||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Derivative liabilities | (50 | ) | — | — | (50 | ) | |||||||||||||||||||
Total derivative instruments | $ | 747 | $ | — | $ | (242 | ) | $ | 505 | ||||||||||||||||
GenOn Americas Generation | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
December 31, 2012 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 1,107 | $ | (260 | ) | $ | (243 | ) | $ | 604 | |||||||||||||||
Derivative assets - affiliate | 85 | (85 | ) | — | — | ||||||||||||||||||||
Derivative liabilities | (310 | ) | 260 | 1 | (49 | ) | |||||||||||||||||||
Derivative liabilities - affiliate | (185 | ) | 85 | — | (100 | ) | |||||||||||||||||||
Total derivative instruments | $ | 697 | $ | — | $ | (242 | ) | $ | 455 | ||||||||||||||||
GenOn Mid-Atlantic | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
December 31, 2012 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 636 | $ | (3 | ) | $ | (57 | ) | $ | 576 | |||||||||||||||
Derivative assets - affiliate | 213 | (152 | ) | — | 61 | ||||||||||||||||||||
Derivative liabilities | (3 | ) | 3 | — | — | ||||||||||||||||||||
Derivative liabilities - affiliate | (152 | ) | 152 | — | — | ||||||||||||||||||||
Total derivative instruments | $ | 694 | $ | — | $ | (57 | ) | $ | 637 | ||||||||||||||||
Accumulated Other Comprehensive Loss (GenOn) | |||||||||||||||||||||||||
The following table summarizes the effects on GenOn's accumulated OCI balance attributable to cash flow hedge derivatives: | |||||||||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Accumulated OCI balance, beginning of period | $ | 18 | $ | (46 | ) | $ | 1 | $ | (34 | ) | |||||||||||||||
Recognized in OCI on interest rate derivatives | — | (8 | ) | 19 | (19 | ) | |||||||||||||||||||
Reclassified from accumulated OCI into earnings(a)(b) | — | 2 | (2 | ) | 1 | ||||||||||||||||||||
Reversal as part of sale to NRG Yield LLC(c) | (18 | ) | — | (18 | ) | — | |||||||||||||||||||
Accumulated OCI balance, end of period | $ | — | $ | (52 | ) | $ | — | $ | (52 | ) | |||||||||||||||
(a) | Amounts reclassified from accumulated OCI into income and amounts recognized in income from the ineffective portion of cash flow hedges are recorded in interest expense. | ||||||||||||||||||||||||
(b) | All of the forecasted transactions (future interest payments) were deemed probable of occurring; therefore, no cash flow hedges were discontinued and no amount was recognized in GenOn’s results of operations as a result of discontinued cash flow hedges. | ||||||||||||||||||||||||
(c) | The reversal of accumulated OCI as part of the sale of NRG Marsh Landing to NRG Yield LLC resulted in the recognition of additional paid in capital. | ||||||||||||||||||||||||
Impact of Derivative Instruments on the Statements of Operations (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | |||||||||||||||||||||||||
Unrealized gains and losses associated with changes in the fair value of derivative instruments not accounted for as cash flow hedges are reflected in current period earnings. | |||||||||||||||||||||||||
The following tables summarize the pre-tax effects of economic hedges that have not been designated as cash flow hedges and trading activity on the Registrants’ statements of operations. These amounts are included within operating revenues and cost of operations. | |||||||||||||||||||||||||
GenOn | |||||||||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Unrealized mark-to-market results | |||||||||||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to economic hedges | $ | (73 | ) | $ | (60 | ) | $ | (270 | ) | $ | (288 | ) | |||||||||||||
Net unrealized gains/(losses) on open positions related to economic hedges | 18 | (125 | ) | 56 | 57 | ||||||||||||||||||||
Total unrealized mark-to-market losses for economic hedging activities | (55 | ) | (185 | ) | (214 | ) | (231 | ) | |||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to trading activity | (1 | ) | (5 | ) | (3 | ) | (3 | ) | |||||||||||||||||
Net unrealized (losses)/gains on open positions related to trading activity | (1 | ) | 2 | 1 | 4 | ||||||||||||||||||||
Total unrealized mark-to-market (losses)/gains for trading activity | (2 | ) | (3 | ) | (2 | ) | 1 | ||||||||||||||||||
Total unrealized losses | $ | (57 | ) | $ | (188 | ) | $ | (216 | ) | $ | (230 | ) | |||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Revenue from operations — energy commodities | $ | (48 | ) | $ | (246 | ) | $ | (238 | ) | $ | (205 | ) | |||||||||||||
Cost of operations | (9 | ) | 58 | 22 | (25 | ) | |||||||||||||||||||
Total impact to statements of operations | $ | (57 | ) | $ | (188 | ) | $ | (216 | ) | $ | (230 | ) | |||||||||||||
GenOn Americas Generation | |||||||||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Unrealized mark-to-market results | |||||||||||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to economic hedges | $ | (69 | ) | $ | (48 | ) | $ | (218 | ) | $ | (221 | ) | |||||||||||||
Net unrealized gains/(losses) on open positions related to economic hedges | 11 | (65 | ) | 37 | 45 | ||||||||||||||||||||
Total unrealized mark-to-market losses for economic hedging activities | (58 | ) | (113 | ) | (181 | ) | (176 | ) | |||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to trading activity | (1 | ) | (5 | ) | (3 | ) | (3 | ) | |||||||||||||||||
Net unrealized (losses)/gains on open positions related to trading activity | (1 | ) | 2 | 1 | 4 | ||||||||||||||||||||
Total unrealized mark-to-market (losses)/gains for trading activity | (2 | ) | (3 | ) | (2 | ) | 1 | ||||||||||||||||||
Total unrealized losses | $ | (60 | ) | $ | (116 | ) | $ | (183 | ) | $ | (175 | ) | |||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Revenue from operations — energy commodities | $ | (52 | ) | $ | (167 | ) | $ | (205 | ) | $ | (160 | ) | |||||||||||||
Cost of operations | (8 | ) | 51 | 22 | (15 | ) | |||||||||||||||||||
Total impact to statements of operations | $ | (60 | ) | $ | (116 | ) | $ | (183 | ) | $ | (175 | ) | |||||||||||||
GenOn Mid-Atlantic | |||||||||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Unrealized mark-to-market results | |||||||||||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to economic hedges | $ | (70 | ) | $ | (51 | ) | $ | (220 | ) | $ | (226 | ) | |||||||||||||
Net unrealized gains/(losses) on open positions related to economic hedges | 11 | (39 | ) | 39 | 65 | ||||||||||||||||||||
Total unrealized losses | $ | (59 | ) | $ | (90 | ) | $ | (181 | ) | $ | (161 | ) | |||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Revenue from operations — energy commodities | $ | (51 | ) | $ | (136 | ) | $ | (203 | ) | $ | (135 | ) | |||||||||||||
Cost of operations | (8 | ) | 46 | 22 | (26 | ) | |||||||||||||||||||
Total impact to statements of operations | $ | (59 | ) | $ | (90 | ) | $ | (181 | ) | $ | (161 | ) | |||||||||||||
Credit Risk Related Contingent Features (GenOn and GenOn Americas Generation) | |||||||||||||||||||||||||
Certain of GenOn and GenOn Americas Generation’s hedging agreements contain provisions that require the Registrants to post additional collateral if the counterparty determines that there has been deterioration in credit quality, generally termed "adequate assurance" under the agreements, or require the Registrants to post additional collateral if there were a one notch downgrade in the Registrants’ credit rating. The collateral required for contracts that have adequate assurance clauses that are in net liability positions as of September 30, 2013 was $27 million for GenOn and GenOn Americas Generation. The collateral required for contracts with credit rating contingent features that are in a net liability position as of September 30, 2013, was $0.4 million for GenOn and GenOn Americas Generation. In addition, GenOn and GenOn Americas Generation are parties to certain marginable agreements under which they have net liability positions, but the counterparties have not called for collateral due, which is approximately $2 million for GenOn and GenOn Americas Generation as of September 30, 2013. At September 30, 2013, GenOn Mid-Atlantic did not have any financial instruments with credit risk related contingent features. | |||||||||||||||||||||||||
See Note 4, Fair Value of Financial Instruments, for discussion regarding concentration of credit risk. |
Debt
Debt | 9 Months Ended |
Sep. 30, 2013 | |
Long Term Debt Disclosure [Abstract] | ' |
Debt (GenOn) | ' |
Debt (GenOn) | |
Redemption of Senior Unsecured Notes, Due 2014, or 2014 Senior Notes | |
In June 2013, GenOn redeemed all of the 2014 Senior Notes, with an aggregate outstanding principal amount of $575 million, at a redemption percentage of 106.778% of face value, as well, as any accrued and unpaid interest as of the redemption date. In connection with the redemption, an $11 million loss on the debt extinguishment of the 2014 Senior Notes was recorded during the three months ended June 30, 2013 which primarily consisted of a make whole premium payment offset by the write-off of unamortized premium. | |
NRG Marsh Landing Credit Agreement Term Conversion | |
In May 2013, NRG Marsh Landing met the conditions under the credit agreement to convert the construction loan for the facility to a term loan which will amortize on a predetermined basis. Prior to term conversion, NRG Marsh Landing drew the remaining funds available under the facility in order to pay costs due for construction. NRG Marsh Landing also issued a $26 million letter of credit under the facility in support of its debt service requirements. Concurrently with the term conversion, the $80 million cash collateralized letter of credit issued by GenOn Energy Holdings on behalf of NRG Marsh Landing in support of its collateral requirements under the PPA with PG&E was returned and the related letter of credit facility was terminated. On July 22, 2013, concurrent with the initial public offering of NRG Yield, Inc., GenOn sold its ownership interests in NRG Marsh Landing Holdings LLC to NRG Yield LLC, including the NRG Marsh Landing term loan. |
Segment_Reporting
Segment Reporting | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Segment Reporting (GenOn and GenOn Americas Generation) | ' | |||||||||||||||||||
Segment Reporting (GenOn and GenOn Americas Generation) | ||||||||||||||||||||
Prior to the NRG Merger, GenOn had the following segments: Eastern PJM, Western PJM/MISO, California, Energy Marketing and Other Operations. GenOn Americas Generation previously had the following segments: Eastern PJM, Northeast, California, Energy Marketing and Other Operations. In the fourth quarter of 2012, in conjunction with the NRG Merger, GenOn and GenOn Americas Generation began reporting the following segments: East, South Central, West and Corporate. All GenOn Mid-Atlantic entities are included within the GenOn East segment. There are distinct components with separate operating results and management structures for each segment, which are based on the geographical location of the power generation operations. GenOn and GenOn Americas Generation have recast the data from prior periods to reflect this change in reportable segments to conform to the current year presentation. | ||||||||||||||||||||
GenOn | ||||||||||||||||||||
Successor | Three months ended September 30, 2013 | |||||||||||||||||||
East | South Central | West(a) | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 730 | $ | 4 | $ | 50 | $ | 10 | $ | 794 | ||||||||||
Operating revenues—affiliate | (7 | ) | 13 | 11 | — | 17 | ||||||||||||||
Depreciation and amortization | 49 | 1 | 10 | — | 60 | |||||||||||||||
Income/(loss) before income taxes | 119 | 10 | 19 | (37 | ) | 111 | ||||||||||||||
Net income/(loss) | $ | 119 | $ | 10 | $ | 19 | $ | (37 | ) | $ | 111 | |||||||||
Total assets(a) | $ | 5,032 | $ | 282 | $ | 357 | $ | 291 | $ | 5,962 | ||||||||||
(a) | As a result of the sale of its ownership interests in NRG Marsh Landing Holdings LLC to NRG Yield LLC in July 2013, GenOn's total assets as of September 30, 2013 exclude the assets of NRG Marsh Landing, and operating results exclude the results of NRG Marsh Landing from its sale date on July 22. See Note 9, Related Party Transactions. | |||||||||||||||||||
Predecessor | Three months ended September 30, 2012 | |||||||||||||||||||
East(b) | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 497 | $ | 21 | $ | 237 | $ | — | $ | 755 | ||||||||||
Depreciation and amortization | 73 | 2 | 10 | 6 | 91 | |||||||||||||||
(Loss)/income before income taxes | (143 | ) | 14 | 146 | (98 | ) | (81 | ) | ||||||||||||
Net (loss)/income | $ | (143 | ) | $ | 14 | $ | 146 | $ | (102 | ) | $ | (85 | ) | |||||||
(b) | Includes impairment losses of $47 million. | |||||||||||||||||||
Successor | Nine months ended September 30, 2013 | |||||||||||||||||||
East | South Central | West (c) | Corporate(d) | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 1,726 | $ | 4 | $ | 194 | $ | 10 | $ | 1,934 | ||||||||||
Operating revenues—affiliate | (11 | ) | 32 | 11 | — | 32 | ||||||||||||||
Depreciation and amortization | 140 | 4 | 30 | 7 | 181 | |||||||||||||||
Income/(loss) before income taxes | 110 | 2 | 36 | (191 | ) | (43 | ) | |||||||||||||
Net income/(loss) | $ | 110 | $ | 2 | $ | 36 | $ | (185 | ) | $ | (37 | ) | ||||||||
(c) Excludes the operating results of NRG Marsh Landing from its sale date on July 22. See Note 9, Related Party Transactions. | ||||||||||||||||||||
(d) Includes loss on debt extinguishment of $11 million. | ||||||||||||||||||||
Predecessor | Nine months ended September 30, 2012 | |||||||||||||||||||
East(e) | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 1,638 | $ | 29 | $ | 330 | $ | — | $ | 1,997 | ||||||||||
Depreciation and amortization | 213 | 7 | 33 | 16 | 269 | |||||||||||||||
(Loss)/income before income taxes | (182 | ) | 13 | 117 | (285 | ) | (337 | ) | ||||||||||||
Net (loss)/income | $ | (182 | ) | $ | 13 | $ | 117 | $ | (293 | ) | $ | (345 | ) | |||||||
(e) | Includes impairment losses of $47 million. | |||||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||||
Successor | Three months ended September 30, 2013 | |||||||||||||||||||
East | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 721 | $ | — | $ | 48 | $ | — | $ | 769 | ||||||||||
Operating revenues—affiliate | (67 | ) | 19 | 48 | — | — | ||||||||||||||
Depreciation and amortization | 19 | — | 1 | — | 20 | |||||||||||||||
Income/(loss) before income taxes | 83 | — | — | (6 | ) | 77 | ||||||||||||||
Net income/(loss) | $ | 83 | $ | — | $ | — | $ | (6 | ) | $ | 77 | |||||||||
Total assets | $ | 2,637 | $ | — | $ | 162 | $ | 287 | $ | 3,086 | ||||||||||
Predecessor | Three months ended September 30, 2012 | |||||||||||||||||||
East | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 474 | $ | 18 | $ | 198 | $ | — | $ | 690 | ||||||||||
Operating revenues—affiliate | 123 | 16 | 19 | — | 158 | |||||||||||||||
Depreciation and amortization | 36 | — | 4 | 1 | 41 | |||||||||||||||
(Loss)/income before income taxes | (59 | ) | 11 | 6 | (20 | ) | (62 | ) | ||||||||||||
Net (loss)/income | $ | (59 | ) | $ | 11 | $ | 6 | $ | (20 | ) | $ | (62 | ) | |||||||
Successor | Nine months ended September 30, 2013 | |||||||||||||||||||
East | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 1,695 | $ | — | $ | 139 | $ | — | $ | 1,834 | ||||||||||
Operating revenues—affiliate | 67 | 33 | 5 | — | 105 | |||||||||||||||
Depreciation and amortization | 57 | — | 4 | — | 61 | |||||||||||||||
Income/(loss) before income taxes | 85 | — | 8 | (50 | ) | 43 | ||||||||||||||
Net income/(loss) | $ | 85 | $ | — | $ | 8 | $ | (50 | ) | $ | 43 | |||||||||
Predecessor | Nine months ended September 30, 2012 | |||||||||||||||||||
East | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 1,552 | $ | 24 | $ | 285 | $ | — | $ | 1,861 | ||||||||||
Operating revenues—affiliate | 148 | 22 | 23 | — | 193 | |||||||||||||||
Depreciation and amortization | 107 | — | 11 | 4 | 122 | |||||||||||||||
(Loss)/income before income taxes | (60 | ) | 16 | 11 | (62 | ) | (95 | ) | ||||||||||||
Net (loss)/income | $ | (60 | ) | $ | 16 | $ | 11 | $ | (62 | ) | $ | (95 | ) | |||||||
Income_Taxes
Income Taxes | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||
Income Taxes (GenOn, GenOn Americas Generation, GenOn Mid-Atlantic) | ' | |||||||||||||
Income Taxes (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | ||||||||||||||
GenOn | ||||||||||||||
GenOn’s income tax (benefit)/expense consisted of the following: | ||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||
(In millions except otherwise noted) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | ||||||||||
Income/(loss) before income taxes | 111 | (81 | ) | (43 | ) | (337 | ) | |||||||
Income tax expense/(benefit) | — | 4 | (6 | ) | 8 | |||||||||
Effective tax rate | — | % | (4.94 | )% | 13.95 | % | (2.37 | )% | ||||||
GenOn | ||||||||||||||
For the three and nine months ended September 30, 2013 and 2012, GenOn's overall effective tax rate was different than the statutory rate of 35% primarily due to a change in the valuation allowance. GenOn recorded an income tax expense or benefit which relates to changes in reserves for uncertain tax benefits for the periods presented. | ||||||||||||||
Tax allocation — NRG will allocate taxes to GenOn Americas Generation and GenOn Mid-Atlantic, subsidiaries of GenOn using the pro rata method of income tax allocation as prescribed in ASC 740, Income Taxes. Electing to use the pro rata method requires presentation of a pro forma income statement for the most recent year and interim period reflecting a tax provision calculated on a separate return basis. Due to historical losses and the uncertainty surrounding the ability to generate future earnings, GenOn has recorded a full valuation allowance against its net deferred tax assets. Any change in the valuation allowance will be offset to the corresponding income tax expense or benefit. For the nine months ended September 30, 2013, GenOn recorded an income tax benefit relating to the reversal of the reserves for uncertain tax benefits. For the three and nine months ended September 30, 2012, GenOn recorded an income tax expense which related to reserves for uncertain tax benefits. | ||||||||||||||
GenOn Americas Generation | ||||||||||||||
GenOn Americas Generation and most of its subsidiaries are limited liability companies that are treated as branches of NRG Americas for income tax purposes. As a result, NRG Americas, GenOn and NRG have direct liability for the majority of the federal and state income taxes relating to GenOn Americas Generation's operations. Several of GenOn Americas Generation's subsidiaries exist as regarded corporate entities for income tax purposes. For the subsidiaries that continue to exist as corporate regarded entities, GenOn Americas Generation allocates current and deferred income taxes to each corporate regarded entity as if such entity were a single taxpayer utilizing the asset and liability method to account for income taxes. To the extent GenOn Americas Generation provides tax expense or benefit, any related tax payable or receivable to NRG is reclassified to equity in the same period since GenOn Americas Generation does not have a tax sharing agreement with NRG. | ||||||||||||||
GenOn Americas Generation's allocated and pro forma income taxes resulting from its operations as of September 30, 2013 and December 31, 2012, are $0 as the income tax benefit and expense, respectively, relates to reserves for uncertain tax benefits attributable to its parent, GenOn. | ||||||||||||||
GenOn Mid-Atlantic | ||||||||||||||
GenOn Mid-Atlantic and GenOn Mid-Atlantic's subsidiaries are limited liability companies that are treated as branches of NRG Americas for income tax purposes. As a result, NRG Americas, GenOn and NRG have direct liability for the majority of the federal and state income taxes relating to GenOn Mid-Atlantic's operations. GenOn Mid-Atlantic’s allocated income taxes resulting from its operations are $0 for the three and nine months ended September 30, 2013 and 2012 as the income tax benefit and expense, respectively, relates to reserves for uncertain tax benefits which are attributable to its parent, GenOn. The pro forma income tax provision attributable to income before taxes is a tax expense of $36 million and tax benefit of $12 million during the three months ended September 30, 2013 and 2012, respectively. The pro forma income tax provision attributable to income before taxes for the nine months ended September 30, 2013 and 2012 is a tax expense of $32 million and a tax benefit of $6 million, respectively. The balance of GenOn Mid-Atlantic's pro forma deferred income taxes is a net deferred tax asset of $566 million and $598 million as of September 30, 2013 and December 31, 2012, respectively. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Related Party Transactions [Abstract] | ' | |||||||||||||||||
Related Party Transactions (GenOn, GenOn Americas Generaiton, GenOn Mid-Atlantic) | ' | |||||||||||||||||
Related Party Transactions (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | ||||||||||||||||||
Services Agreement with NRG (GenOn) | ||||||||||||||||||
Subsequent to the NRG Merger, NRG provides GenOn with various management, personnel and other services, which include human resources, regulatory and public affairs, accounting, tax, legal, information systems, treasury, risk management, commercial operations, and asset management, as set forth in the Services Agreement. The initial term of the Services Agreement is through December 31, 2013, with an automatic renewal absent a request for termination. The fee charged is determined based on a fixed amount as described in the Services Agreement and was calculated based on historical GenOn expenses prior to the NRG Merger. The annual fees under the Services Agreement are approximately $193 million. NRG charges these fees on a monthly basis, less amounts incurred directly by GenOn. Management has concluded that this method of charging overhead costs is reasonable. For the three and nine months ended September 30, 2013, GenOn recorded costs related to these services of $37 million and $62 million, respectively, as selling, general and administrative — affiliate. | ||||||||||||||||||
Administrative Services Provided by NRG for the Successor Period and Provided by GenOn Energy for the Predecessor Period | ||||||||||||||||||
Prior to the NRG Merger, GenOn provided GenOn Americas Generation and GenOn Mid-Atlantic with various management, personnel and other services directly relating to their facilities. GenOn Americas Generation and GenOn Mid-Atlantic reimbursed GenOn for amounts equal to the costs of providing such services. In addition, GenOn's corporate overhead costs were allocated to its subsidiaries based on each operating subsidiary's planned operating expenses relative to all operating subsidiaries of GenOn. Subsequent to the NRG Merger, NRG provides GenOn Americas Generation and GenOn Mid-Atlantic with various management, personnel and other services consistent with those set forth in the Services Agreement discussed above between NRG and GenOn. GenOn's costs incurred under the Services Agreement with NRG are allocated to its subsidiaries based on each operating subsidiary's planned operating expenses relative to all operating subsidiaries of GenOn. These allocations and charges are not necessarily indicative of what would have been incurred had GenOn Americas Generation and GenOn Mid-Atlantic been unaffiliated entities. Management has concluded that this method of charging overhead costs is reasonable. Costs incurred by NRG and charged directly back to GenOn Americas and GenOn Mid-Atlantic are not considered to be affiliate costs for periods subsequent to the NRG Merger. Direct costs charged back to GenOn Americas Generation of $38 million for the three months ended September 30, 2012 and $117 million for the nine months ended September 30, 2012, were considered to be affiliate costs. Direct costs charged back to GenOn Mid-Atlantic of $24 million for the three months ended September 30, 2012 and $72 million for the nine months ended September 30, 2012, were considered to be affiliate costs. | ||||||||||||||||||
The following costs were incurred under these arrangements: | ||||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | ||||||||||||||
Allocated costs: | ||||||||||||||||||
Cost of operations — affiliate | 2 | 8 | 7 | 25 | ||||||||||||||
Selling, general and administrative — affiliate | 18 | 19 | 57 | 58 | ||||||||||||||
Total | $ | 20 | $ | 27 | $ | 64 | $ | 83 | ||||||||||
GenOn Mid-Atlantic | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | ||||||||||||||
Allocated costs: | ||||||||||||||||||
Cost of operations — affiliate | 2 | 2 | 5 | 8 | ||||||||||||||
Selling, general and administrative — affiliate | 15 | 15 | 48 | 45 | ||||||||||||||
Total | $ | 17 | $ | 17 | $ | 53 | $ | 53 | ||||||||||
In addition, for the successor period, NRG provided services to certain of GenOn's operating subsidiaries including the execution of contracts, including economic hedges to reduce price risk. These transactions are recorded as operating revenues — affiliate and cost of operations — affiliate in GenOn's consolidated statement of operations. Amounts due from and to NRG are recorded as accounts receivable — affiliate or accounts payable — affiliate. | ||||||||||||||||||
Services Provided by GenOn Energy Management (GenOn Americas Generation and GenOn Mid-Atlantic) | ||||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||
GenOn Energy Management, a subsidiary of GenOn, provides services to certain of GenOn's indirect operating subsidiaries through power, fuel supply and services agreements. The services include the bidding and dispatch of the generating units, fuel procurement and the execution of contracts, including economic hedges to reduce price risk. These transactions are recorded as operating revenues — affiliate or cost of operations — affiliate in GenOn Americas Generation's consolidated statements of operations. Amounts due from and to GenOn's indirect operating subsidiaries are recorded as accounts receivable — affiliate or accounts payables — affiliate. Substantially all energy marketing overhead expenses are allocated to GenOn's operating subsidiaries by GenOn Energy Management. For the three months ended September 30, 2013 and 2012, GenOn Americas Generation recorded a reduction to selling, general and administrative — affiliate of $2 million and $6 million, respectively, and for the nine months ended September 30, 2013 and 2012, GenOn Americas Generation recorded a reduction to selling, general and administrative — affiliate of $6 million and $18 million, respectively, related to the allocations of energy marketing overhead expenses to affiliates outside of GenOn Americas Generation. | ||||||||||||||||||
GenOn Mid-Atlantic | ||||||||||||||||||
GenOn Mid-Atlantic receives services from GenOn Energy Management which include the bidding and dispatch of the generating units, procurement of fuel and other products and the execution of contracts, including economic hedges, to reduce price risk. These transactions are recorded as operating revenues — affiliate or cost of operations — affiliate in GenOn Mid-Atlantic's consolidated statements of operations. Amounts due to and from GenOn Energy Management under the power, fuel supply and services agreements are recorded as accounts payables — affiliate or accounts receivables — affiliate. Under these agreements, GenOn Energy Management resells GenOn Mid-Atlantic's energy products in the PJM spot and forward markets and to other third parties. GenOn Mid-Atlantic pays the amount received by GenOn Energy Management for such capacity and energy. GenOn Mid-Atlantic has counterparty credit risk in the event that GenOn Energy Management is unable to collect amounts owed from third parties for the resale of GenOn Mid-Atlantic's energy products. Substantially all energy marketing overhead expenses are allocated to GenOn's operating subsidiaries. For the three months ended September 30, 2013 and 2012, GenOn Mid-Atlantic incurred an insignificant amount and $1 million of energy marketing overhead expense, respectively. For the nine months ended September 30, 2013 and 2012, GenOn Mid-Atlantic incurred $1 million and $3 million of energy marketing overhead expense, respectively. These costs were included in selling, general and administrative — affiliate in GenOn Mid-Atlantic's consolidated statements of operations. | ||||||||||||||||||
Credit Agreement with NRG (GenOn) | ||||||||||||||||||
In connection with the closing of the NRG Merger, GenOn and NRG Americas entered into a secured intercompany revolving credit agreement with NRG. This credit agreement provides for a $500 million revolving credit facility, all of which is available for revolving loans and letters of credit. At September 30, 2013 and December 31, 2012, letters of credit of $301 million and $261 million, respectively, were issued and outstanding under the NRG credit agreement on behalf of GenOn. At September 30, 2013 and December 31, 2012, letters of credit of $211 million and $166 million, respectively, were issued on behalf of GenOn Americas Generation. At September 30, 2013 and December 31, 2012, letters of credit of $78 million and $113 million, respectively, were issued on behalf of GenOn Mid-Atlantic. At September 30, 2013 and December 31, 2012, no loans were outstanding under this credit agreement. In connection with the execution of the agreement, certain of GenOn's subsidiaries, as guarantors, entered into a guarantee agreement pursuant to which these guarantors guaranteed amounts borrowed and obligations incurred under the credit agreement. The credit agreement has a three year maturity and is payable at maturity, subject to certain exceptions primarily related to asset sales not in the ordinary course of business and borrowings of debt. In addition, the guarantors are restricted from incurring additional liens on their assets. At GenOn's election, the interest rate per year applicable to the loans under the credit agreement will be determined by reference to either (i) the base rate plus 2.50% per year or (ii) the LIBOR rate plus 3.50% per year. In addition, the credit agreement contains customary covenants and events of default. | ||||||||||||||||||
Intercompany Cash Management Program (GenOn Americas Generation) | ||||||||||||||||||
GenOn Americas Generation and certain of its subsidiaries participate in separate intercompany cash management programs whereby cash balances at GenOn Americas Generation and the respective participating subsidiaries are transferred to central concentration accounts to fund working capital and other needs of the respective participants. The balances under this program are reflected as notes receivable — affiliate or notes payable — affiliate, as appropriate. The notes are due on demand and accrue interest on the net position, which is payable quarterly, at the short term yield of the Federated Investors Treasury Obligation Fund or such other fund designated by GenOn Energy Holdings. At September 30, 2013 and December 31, 2012, GenOn Americas Generation had a net current note receivable from GenOn Energy Holdings of $299 million and $198 million, respectively, related to its intercompany cash management program. For the three and nine months ended September 30, 2013 and 2012, GenOn Americas Generation earned an insignificant amount of net interest income related to these notes. | ||||||||||||||||||
Purchased Emission Allowances (GenOn Mid-Atlantic) | ||||||||||||||||||
GenOn Energy Management maintains an inventory of certain purchased emission allowances related to the Regional Greenhouse Gas Initiative on behalf of GenOn Mid-Atlantic. The emission allowances are sold by GenOn Energy Management to GenOn Mid-Atlantic as they are needed for operations. GenOn Mid-Atlantic purchases emission allowances from GenOn Energy Management at GenOn Energy Management's original cost to purchase the allowances. For allowances that have been purchased by GenOn Energy Management from a GenOn Energy affiliate, the price paid by GenOn Energy Management is determined by market indices. | ||||||||||||||||||
Emission allowances purchased from GenOn Energy Management that were utilized during the three months ended September 30, 2013 and 2012 were $3 million and $7 million, respectively, and during the nine months ended September 30, 2013 and 2012 were $11 million and $14 million, respectively, and were recorded in cost of operations — affiliate in GenOn Mid-Atlantic's consolidated statements of operations. | ||||||||||||||||||
Sale of NRG Marsh Landing Holdings LLC to NRG Yield LLC (GenOn) | ||||||||||||||||||
On July 22, 2013, concurrent with the initial public offering of NRG Yield, Inc., GenOn sold its ownership interests in NRG Marsh Landing Holdings LLC to NRG Yield LLC for a purchase price of $199 million in cash plus the assumption of debt. The net assets of NRG Marsh Landing Holdings LLC were $168 million at the time of the sale resulting in the recognition of additional paid-in capital of $31 million. | ||||||||||||||||||
The following table summarizes the net assets of Marsh Landing Holdings LLC sold to NRG Yield LLC: | ||||||||||||||||||
Historical carrying amount | ||||||||||||||||||
(In millions) | ||||||||||||||||||
Assets | ||||||||||||||||||
Other current and non-current assets | $ | 52 | ||||||||||||||||
Property, plant and equipment | 666 | |||||||||||||||||
Total assets | $ | 718 | ||||||||||||||||
Liabilities | ||||||||||||||||||
Other current and non-current liabilities | $ | 50 | ||||||||||||||||
Long-term debt | 500 | |||||||||||||||||
Total liabilities | $ | 550 | ||||||||||||||||
Net assets | $ | 168 | ||||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies (GenOn, GenOn Americas Generation, GenOn Mid-Atlantic) | ' |
Contingencies | |
Set forth below is a description of the Registrants’ material legal proceedings. The Registrants believe that they have valid defenses to these legal proceedings and intend to defend them vigorously. The Registrants record reserves for estimated losses from contingencies when information available indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. In addition, legal costs are expensed as incurred. Management has assessed each of the following matters based on current information and made a judgment concerning its potential outcome, considering the nature of the claim, the amount and nature of damages sought, and the probability of success. Unless specified below, the Registrants are unable to predict the outcome of these legal proceedings or reasonably estimate the scope or amount of any associated costs and potential liabilities. As additional information becomes available, management adjusts its assessment and estimates of such contingencies accordingly. Because litigation is subject to inherent uncertainties and unfavorable rulings or developments, it is possible that the ultimate resolution of the Registrants’ liabilities and contingencies could be at amounts that are different from currently recorded reserves and that such difference could be material. | |
In addition to the legal proceedings noted below, the Registrants are parties to other litigation or legal proceedings arising in the ordinary course of business. In management's opinion, the disposition of these ordinary course matters will not materially adversely affect the Registrants’ respective consolidated financial position, results of operations, or cash flows. | |
Global Warming (GenOn) | |
In February 2008, the Native Village of Kivalina and the City of Kivalina, Alaska filed a suit in the U.S. District Court for the Northern District of California against GenOn and 23 other electric generating and oil and gas companies. The lawsuit sought damages of up to $400 million for the cost of relocating the village allegedly because of global warming caused by the greenhouse gas emissions of the defendants. In late 2009, the District Court ordered that the case be dismissed and the plaintiffs appealed. In September 2012, the U.S. Court of Appeals for the Ninth Circuit dismissed plaintiffs’ appeal. In October 2012, the plaintiffs petitioned for en banc rehearing of the case; which petition was denied in November 2012. In February 2013, plaintiffs filed a petition with the U.S. Supreme Court seeking review of the decision from the U.S. Court of Appeals. On May 20, 2013, the U.S. Supreme Court denied plaintiffs petition, thereby ending the case. | |
Actions Pursued by MC Asset Recovery (GenOn) | |
With Mirant Corporation's emergence from bankruptcy protection in 2006, certain actions filed by GenOn Energy Holdings and some of its subsidiaries against third parties were transferred to MC Asset Recovery, a wholly owned subsidiary of GenOn Energy Holdings. MC Asset Recovery is governed by a manager who is independent of NRG and GenOn. MC Asset Recovery is a disregarded entity for income tax purposes. | |
Under the remaining action transferred to MC Asset Recovery, MC Asset Recovery seeks to recover damages from Commerzbank AG and various other banks, or the Commerzbank Defendants, for alleged fraudulent transfers that occurred prior to GenOn Energy Holdings' bankruptcy proceedings. In December 2010, the U.S. District Court for the Northern District of Texas dismissed MC Asset Recovery's complaint against the Commerzbank Defendants. In January 2011, MC Asset Recovery appealed the United States District Court's dismissal of its complaint against the Commerzbank Defendants to the U.S. Court of Appeals for the Fifth Circuit. In March 2012, the U.S. Court of Appeals for the Fifth Circuit reversed the U.S. District Court's dismissal and reinstated MC Asset Recovery's amended complaint against the Commerzbank Defendants. If MC Asset Recovery succeeds in obtaining any recoveries from the Commerzbank Defendants, the Commerzbank Defendants have asserted that they will seek to file claims in GenOn Energy Holdings' bankruptcy proceedings for the amount of those recoveries. GenOn Energy Holdings would vigorously contest the allowance of any such claims. If the Commerzbank Defendants were to receive an allowed claim as a result of a recovery by MC Asset Recovery on its claims against them, GenOn Energy Holdings would retain from the net amount recovered by MC Asset Recovery an amount equal to the dollar amount of the resulting allowed claim. | |
Pending Natural Gas Litigation (GenOn) | |
GenOn is party to five lawsuits, several of which are class action lawsuits, in state and federal courts in Kansas, Missouri, Nevada and Wisconsin. These lawsuits were filed in the aftermath of the California energy crisis in 2000 and 2001 and the resulting FERC investigations and relate to alleged conduct to increase natural gas prices in violation of antitrust and similar laws. The lawsuits seek treble or punitive damages, restitution and/or expenses. The lawsuits also name as parties a number of energy companies unaffiliated with GenOn. In July 2011, the U.S. District Court for the District of Nevada, which is handling four of the five cases, granted the defendants’ motion for summary judgment and dismissed all claims against GenOn in those cases. The plaintiffs appealed to the U.S. Court of Appeals for the Ninth Circuit. The Ninth Circuit reversed the decision of the U.S. District Court for the District of Nevada. On August 26, 2013, GenOn along with the other defendants in the lawsuit filed a petition for certiorari to the U.S. Supreme Court challenging the Ninth Circuit’s decision. In September 2012, the State of Nevada Supreme Court, which is handling the remaining case, affirmed dismissal by the Eighth Judicial District Court for Clark County, Nevada of all plaintiffs’ claims against GenOn. In February 2013, the plaintiffs filed a petition for certiorari to the U.S. Supreme Court. On June 24, 2013, the U.S. Supreme Court denied the petition for certiorari, thereby ending one of the five lawsuits. GenOn has agreed to indemnify CenterPoint against certain losses relating to these lawsuits. | |
New Source Review Matters | |
The EPA and various states are investigating compliance of electric generating facilities with the pre-construction permitting requirements of the CAA known as “new source review.” Since 2000, the EPA has made information requests concerning the Avon Lake, Canal, Chalk Point, Cheswick, Conemaugh, Dickerson, Elrama, Keystone, Morgantown, New Castle, Niles, Portland, Potomac River, Shawville and Titus generating facilities. The Registrants continue to correspond with the EPA regarding some of these requests. The EPA agreed to share information relating to its investigations with state environmental agencies. In January 2009, GenOn received an NOV from the EPA alleging that past work at its Shawville, Portland and Keystone generating facilities violated regulations regarding new source review. In June 2011, GenOn received an NOV from the EPA alleging that past work at the Niles and Avon Lake generating facilities violated regulations regarding new source review. | |
In December 2007, the NJDEP sued GenOn in the U.S. District Court for the Eastern District of Pennsylvania, alleging that new source review violations occurred at the Portland generating facility. The suit sought installation of “best available” control technologies for each pollutant, to enjoin GenOn from operating the generating facility if it is not in compliance with the CAA and civil penalties. The suit also named past owners of the plant as defendants, but the claims against the past owners were dismissed. In March 2009, the Connecticut Department of Energy and Environmental Protection became an intervening party to the suit. GenOn believes that the work listed by the EPA and the work subject to the NJDEP suit were conducted in compliance with applicable regulations. In July 2013, the court entered a Consent Decree which generally requires the cessation of coal combustion at Portland Units 1 and 2 and the payment of $1 million to benefit the environment in New Jersey and Connecticut. The entry of the Consent Decree resolved this matter. | |
Cheswick Class Action Complaint (GenOn) | |
In April 2012, a putative class action lawsuit was filed against GenOn in the Court of Common Pleas of Allegheny County, Pennsylvania alleging that emissions from the Cheswick generating facility have damaged the property of neighboring residents. GenOn disputes these allegations. Plaintiffs have brought nuisance, negligence, trespass and strict liability claims seeking both damages and injunctive relief. Plaintiffs seek to certify a class that consists of people who own property or live within one mile of the plant. In July 2012, GenOn removed the lawsuit to the U.S. District Court for the Western District of Pennsylvania. In October 2012, the court granted GenOn’s motion to dismiss, which Plaintiffs appealed to the U.S. Court of Appeals for the Third Circuit. On June 25, 2013, the Third Circuit reversed the decision of the District Court. On September 3, 2013, GenOn filed a petition for rehearing with the Third Circuit which was subsequently denied on September 23, 2013. On October 15, 2013, GenOn filed a motion with the District Court seeking to stay the District Court case while it petitions for certiorari to the U.S. Supreme Court. | |
Cheswick Monarch Mine NOV (GenOn) | |
In 2008, the PADEP issued an NOV related to the Monarch mine located near the Cheswick generating facility. It has not been mined for many years. GenOn uses it for disposal of low-volume wastewater from the Cheswick generating facility and for disposal of leachate collected from ash disposal facilities. The NOV addresses the alleged requirement to maintain a minimum pumping volume from the mine. The PADEP indicated it will seek a civil penalty of approximately $200,000. GenOn contests the allegations in the NOV and has not agreed to such penalty. GenOn is currently planning capital expenditures in connection with wastewater from Cheswick and leachate from ash disposal facilities. | |
Ormond Beach Alleged Federal Clean Water Act Violations (GenOn) | |
In October 2012, the Wishtoyo Foundation, a California-based cultural and environmental advocacy organization, through its Ventura Coastkeeper Program, filed suit in the U.S. District Court for the Central District of California regarding alleged violations of the Clean Water Act associated with discharges of stormwater from the Ormond Beach generating facility. The Wishtoyo Foundation alleges that elevated concentrations of pollutants in stormwater discharged from the Ormond Beach generating facility were affecting adjacent aquatic resources in violation of (i) the Statewide General Industrial Stormwater permit (a general National Pollution Discharge Elimination System permit issued by the California State Water Resources Control Board that authorizes stormwater discharges from industrial facilities in California) and (ii) the state’s Porter-Cologne Water Quality Control Act. The Wishtoyo Foundation further alleged that GenOn had not implemented effective stormwater control and treatment measures and that GenOn had not complied with the sampling and reporting requirements of the General Industrial Stormwater permit. GenOn settled this matter in May 2013 and agreed to make operational changes and pay $79,000 in legal fees, $65,000 for supplemental environmental projects and $15,000 for monitoring costs. | |
Maryland Fly Ash Facilities | |
NRG MD Ash Management has three fly ash facilities in Maryland: Faulkner, Westland and Brandywine. NRG MD Ash Management disposes of fly ash from the Morgantown and Chalk Point generating facilities at Brandywine. NRG MD Ash Management disposes of fly ash from the Dickerson generating facility at Westland. NRG MD Ash Management no longer disposes of fly ash at the Faulkner facility. As described below, the MDE had sued NRG MD Ash Management and GenOn Mid-Atlantic regarding Faulkner, Brandywine and Westland. The MDE also had threatened not to renew the water discharge permits for all three facilities. | |
Faulkner Litigation. In May 2008, the MDE sued GenOn Mid-Atlantic and NRG MD Ash Management in the Circuit Court for Charles County, Maryland alleging violations of Maryland’s water pollution laws at Faulkner. The MDE contended that the operation of Faulkner had resulted in the discharge of pollutants that exceeded Maryland’s water quality criteria and without the appropriate NPDES permit. The MDE also alleged that GenOn failed to perform certain sampling and reporting required under an applicable NPDES permit. The MDE complaint requested that the court (i) prohibit continuation of the alleged unpermitted discharges, (ii) require GenOn to cease from further disposal of any coal combustion byproducts at Faulkner and close and cap the existing disposal cells and (iii) assess civil penalties. In July 2008, GenOn filed a motion to dismiss the complaint, arguing that the discharges are permitted by a December 2000 Consent Order. In January 2011, the MDE dismissed without prejudice its complaint and informed GenOn that it intended to file a similar lawsuit in federal court. In May 2011, the MDE filed a complaint against GenOn Mid-Atlantic and NRG MD Ash Management in the U.S. District Court for the District of Maryland alleging violations at Faulkner of the Clean Water Act and Maryland’s Water Pollution Control Law. The MDE contends that (i) certain of GenOn's water discharges are not authorized by the existing permit and (ii) operation of the Faulkner facility has resulted in discharges of pollutants that violate water quality criteria. The complaint asked the court to, among other things, (i) enjoin further disposal of coal ash; (ii) enjoin discharges that are not authorized by the existing permit; (iii) require numerous technical studies; (iv) impose civil penalties and (v) award MDE attorneys’ fees. GenOn disputed these allegations. | |
Brandywine Litigation. In April 2010, the MDE filed a complaint against GenOn Mid-Atlantic and NRG MD Ash Management in the U.S. District Court for the District of Maryland asserting violations at Brandywine of the Clean Water Act and Maryland’s Water Pollution Control Law. The MDE contended that the operation of Brandywine has resulted in discharges of pollutants that violate Maryland’s water quality criteria. The complaint requested that the court, among other things, (i) enjoin further disposal of coal combustion waste at Brandywine, (ii) require GenOn to close and cap the existing open disposal cells within one year, (iii) impose civil penalties and (iv) award MDE attorneys’ fees. In September 2010, four environmental advocacy groups became intervening parties in the proceeding. | |
Westland Litigation. In January 2011, the MDE informed GenOn that it intended to sue for alleged violations at Westland of Maryland’s water pollution laws, which suit was filed in the U.S. District Court for the District of Maryland in December 2012. | |
Permit Renewals. In March 2011, the MDE tentatively determined to deny NRG MD Ash Management's application for the renewal of the water discharge permit for Brandywine, which could result in a significant increase in operating expenses for the Chalk Point and Morgantown generating facilities. The MDE also had indicated that it was planning to deny GenOn’s applications for the renewal of the water discharge permits for Faulkner and Westland. Denial of the renewal of the water discharge permit for the latter facility could have resulted in a significant increase in operating expenses for GenOn Mid-Atlantic's Dickerson generating facility. | |
Settlement. In April 2013, NRG MD Ash Management and MDE signed a Consent Decree settling the disputes at each of the three ash facilities. GenOn agreed to pay a civil penalty of $1.9 million for alleged past violations and an additional $0.6 million (for agreed prospective penalties while GenOn implements the settlement). GenOn agreed to develop a technical solution which includes installing synthetic caps on the closed cells of each of the three ash facilities, for which $47 million has been reserved, and to remediate the sites. At this time, GenOn cannot reasonably estimate the upper range of its obligations for remediating the sites because GenOn has not (i) finished assessing each site including identifying the full impacts to both ground and surface water and the impacts to the surrounding habitat; (ii) finalized with the MDE the standards to which it must remediate; and (iii) identified the technologies required, if any, to meet the yet to be determined remediation standards at each site nor the timing of the design and installation of such technologies. | |
Purported Class Actions related to July 22, 2012 Announcement of NRG Merger Agreement (GenOn) | |
GenOn was named as a defendant in eight purported class actions in Texas and Delaware, related to its announcement of its agreement for NRG to acquire all outstanding shares of GenOn. These cases were consolidated into one state court case in each of Delaware and Texas and a federal court case in Texas. The plaintiffs generally alleged breach of fiduciary duties, as well as conspiracy, aiding and abetting breaches of fiduciary duties. Plaintiffs generally sought to: be certified as a class; enjoin the merger; direct the defendants to exercise their fiduciary duties; rescind the acquisition and be awarded attorneys' fees and costs and other relief that the court deems appropriate. Plaintiffs also demanded that there be additional disclosures regarding the merger terms. On October 24, 2012, the parties to the Delaware state court case executed a Memorandum of Understanding to resolve the Delaware purported class action lawsuit. In March 2013, the parties finalized the settlement of the Delaware action. On June 3, 2013, the court approved the Delaware class action settlement thereby ending the Delaware lawsuit. The remaining Texas state and federal court cases were dismissed in July 2013 and August 2013, respectively, thereby ending these matters. | |
Maryland Department of the Environment v. GenOn Chalk Point and GenOn Mid-Atlantic | |
In January 2013, Food & Water Watch, the Patuxent Riverkeeper and the Potomac Riverkeeper (together, Citizens Group) sent GenOn Mid-Atlantic a letter alleging that the Chalk Point, Dickerson and Morgantown generating facilities were violating the terms of three National Pollution Discharge Elimination System Permits by discharging nitrogen and phosphorous in excess of the limits in each permit. On March 21, 2013, the MDE sent GenOn Mid-Atlantic a similar letter with respect to the Chalk Point and Dickerson facilities, threatening to sue within 60 days if the facilities were not brought into compliance. On June 11, 2013, the Maryland Attorney General on behalf of the MDE filed a complaint in the U.S. District Court for the District of Maryland alleging violations of the Clean Water Act and Maryland environmental laws related to water. The lawsuit seeks injunctive relief and civil penalties in excess of $100,000. | |
Chapter 11 Proceedings (GenOn and GenOn Americas Generation) | |
In July 2003, and various dates thereafter, the Mirant Debtors filed voluntary petitions in the Bankruptcy Court for relief under Chapter 11 of the U.S. Bankruptcy Code. GenOn Energy Holdings and most of the other Mirant Debtors emerged from bankruptcy on January 3, 2006, when the Plan became effective. The remaining Mirant Debtors emerged from bankruptcy on various dates in 2007. Approximately 461,000 of the shares of GenOn Energy Holdings common stock to be distributed under the Plan have not yet been distributed and have been reserved for distribution with respect to claims disputed by the Mirant Debtors that have not been resolved. Upon the Mirant/RRI Merger, those reserved shares converted into a reserve for approximately 1.3 million shares of GenOn common stock. Upon the NRG Merger, those reserved shares converted into a reserve for approximately 159,000 shares of NRG common stock. Under the terms of the Plan, upon the resolution of such a disputed claim, the claimant will receive the same pro rata distributions of common stock, cash, or both as previously allowed claims, regardless of the price at which the common stock is trading at the time the claim is resolved. If the aggregate amount of any such payouts results in the number of reserved shares being insufficient, additional shares of common stock may be issued to address the shortfall. | |
Texas Franchise Audit (GenOn) | |
During the second quarter of 2013, GenOn settled the Texas Franchise tax dispute with the state relating to years 2001 through 2007. Prior to NRG Merger, the State of Texas issued franchise tax assessments against GenOn as a result of its audit indicating an underpayment of franchise tax of $72 million (including interest and penalties through June 30, 2013 of $29 million). These assessments relate primarily to a claim by Texas that would change the sourcing of intercompany receipts thereby increasing the amount of tax due. GenOn disagreed with most of the State's assessment and its determination and had accordingly accrued a portion of the liability but had protested the entire assessment. In June 2013, GenOn settled the matter with the State by agreeing to pay $11 million on issues arising from the audit, and reversed the remainder of the accrual. The reversal was recorded as a measurement period adjustment to the amounts recognized on the acquisition date. |
Regulatory_Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2013 | |
Regulatory Matters Disclosure [Abstract] | ' |
Regulatory Matters (GenOn, GenOn Americas Generation, GenOn Mid-Atlantic) | ' |
Regulatory Matters (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | |
The Registrants operate in a highly regulated industry and are subject to regulation by various federal and state agencies. As such, the Registrants are affected by regulatory developments at both the federal and state levels and in the regions in which they operate. In addition, the Registrants are subject to the market rules, procedures, and protocols of the various ISO markets in which they participate. These power markets are subject to ongoing legislative and regulatory changes that may impact the Registrants. | |
In addition to the regulatory proceedings noted below, the Registrants are a party to other regulatory proceedings arising in the ordinary course of business or have other regulatory exposure. In management's opinion, the disposition of these ordinary course matters will not materially adversely affect the Registrants’ respective consolidated financial position, results of operations, or cash flows. | |
East Region (GenOn) | |
RMR Agreements for Elrama and Niles — In May 2012, GenOn filed with FERC an RMR rate schedule governing operation of unit 4 of the Elrama generating facility and unit 1 of the Niles generating facility. PJM determined that each of these units was needed past its planned deactivation date of June 1, 2012 to maintain transmission system reliability on the PJM system pending the completion of transmission upgrades. The RMR rate schedule sets forth the terms, conditions and cost-based rates under which GenOn operated the units for reliability purposes through September 30, 2012, the date PJM indicated the units would no longer be needed for reliability. In July 2012, FERC accepted GenOn's RMR rate schedule subject to hearing and settlement procedures. In the settlement discussions ordered by FERC, or in any subsequent hearing, GenOn's RMR rate schedule may be modified from that which was filed. The rates GenOn charged are subject to refund pending a ruling or settlement. GenOn filed a settlement of all outstanding issues in May 2013, which several parties are contesting. The matter is pending before FERC. |
Environmental_Matters
Environmental Matters | 9 Months Ended |
Sep. 30, 2013 | |
Environmental Matters Disclosure [Abstract] | ' |
Environmental Matters (GenOn, GenOn Americas Generation, GenOn Mid-Atlantic) | ' |
Environmental Matters (GenOn, GenOn Americas Generation and GenOn Mid-Atlantic) | |
The Registrants are subject to a wide range of environmental regulations in the development, ownership, construction and operation of projects. These laws and regulations generally require that governmental permits and approvals be obtained before construction and during operation of power plants. Environmental regulations have become increasingly stringent and the Registrants expect this trend to continue. The electric generation industry is likely to face new requirements to address various emissions, including greenhouse gases, as well as combustion byproducts, water discharge and use, and threatened and endangered species. In general, future laws and regulations are expected to require the addition of emissions controls or other environmental controls or to impose of certain restrictions on the operations of the Registrants' facilities, which could have a material effect on the Registrants' operations. | |
Environmental Capital Expenditures | |
Based on current rules, technology and plans based on proposed rules, GenOn estimates that environmental capital expenditures from 2013 through 2017 required to meet GenOn's regulatory environmental laws will be approximately $223 million for GenOn, which includes $56 million for GenOn Americas Generation. The amount for GenOn Americas Generation includes $6 million for GenOn Mid-Atlantic. These costs are primarily associated with controls to satisfy MATS at Conemaugh and NOx controls for Sayreville and Gilbert. In addition, although GenOn expects to place Shawville in long-term protective layup and reactivation remains a technical possibility, GenOn does not expect to make any further investment in environmental controls for this facility. Reactivation after a long-term protective layup would likely involve numerous new permits and substantial additional investment. The Registrants continue to explore cost effective compliance alternatives to further reduce costs. | |
East Region | |
The EPA and various states are investigating compliance of electric generating facilities with the pre-construction permitting requirements of the CAA known as NSR. In January 2009, GenOn received an NOV from the EPA alleging that past work at Keystone, Portland and Shawville generating stations violated regulations regarding NSR. In June 2011, GenOn received an NOV from the EPA alleging that past work at Avon Lake and Niles generating stations violated NSR. In December 2007, the NJDEP filed suit alleging that NSR violations occurred at the Portland generating station, which was resolved pursuant to a July 2013 Consent Decree. | |
In 2008, the PADEP issued an NOV related to the Monarch mine located near the Cheswick generating facility. It has not been mined for many years. GenOn uses it for disposal of low-volume wastewater from the Cheswick generating facility and for disposal of leachate collected from ash disposal facilities. The NOV addresses the alleged requirement to maintain a minimum pumping volume from the mine. The PADEP indicated it will seek a civil penalty of approximately $200,000. GenOn contests the allegations in the NOV and has not agreed to such penalty. GenOn is currently planning capital expenditures in connection with wastewater from Cheswick and leachate from ash disposal facilities. | |
The MDE sued GenOn Mid-Atlantic and NRG MD Ash Management for alleged violations of water pollution laws at three fly ash disposal sites in Maryland: Faulkner (2008/2011), Brandywine (2010) and Westland (2012). On April 30, 2013, the court approved the consent decree resolving these issues. NRG MD Ash Management has since discontinued use of the Faulkner disposal site and opened a new, state of the art carbon burnout facility at the Morgantown plant that allows greater beneficial reuse (as a cement substitute). | |
For further discussion of these matters, refer to Note 10, Commitments and Contingencies. |
NRG_Merger_Tables
NRG Merger (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
NRG Merger | ' | |||||||||||||||||||
Schedule of provisional allocation of assets and liabilities | ' | |||||||||||||||||||
GenOn | ||||||||||||||||||||
Historical carrying amount | Acquisition accounting adjustment | Acquisition-date fair value as reported in 2012 10-K | Measurement period adjustments | Revised acquisition-date fair value | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash | $ | 983 | $ | — | $ | 983 | $ | — | $ | 983 | ||||||||||
Other current and non-current assets | 2,049 | (664 | ) | 1,385 | (18 | ) | 1,367 | |||||||||||||
Property, plant and equipment | 6,286 | (2,350 | ) | 3,936 | (27 | ) | 3,909 | |||||||||||||
Derivative assets | 1,143 | 14 | 1,157 | — | 1,157 | |||||||||||||||
Deferred income taxes | 220 | — | 220 | — | 220 | |||||||||||||||
Total assets | $ | 10,681 | $ | (3,000 | ) | $ | 7,681 | $ | (45 | ) | $ | 7,636 | ||||||||
Liabilities | ||||||||||||||||||||
Other current and non-current liabilities | $ | 1,299 | $ | 13 | 1,312 | $ | (7 | ) | $ | 1,305 | ||||||||||
Out-of-market contracts and leases | 331 | 733 | 1,064 | 15 | 1,079 | |||||||||||||||
Derivative liabilities | 414 | (15 | ) | 399 | — | 399 | ||||||||||||||
Deferred income taxes | 220 | — | 220 | — | 220 | |||||||||||||||
Long-term debt and capital leases | 3,725 | 478 | 4,203 | 3 | 4,206 | |||||||||||||||
Total liabilities | $ | 5,989 | $ | 1,209 | $ | 7,198 | $ | 11 | $ | 7,209 | ||||||||||
Net assets | $ | 4,692 | $ | (4,209 | ) | $ | 483 | $ | (56 | ) | $ | 427 | ||||||||
GenOn Americas Generation | ' | |||||||||||||||||||
NRG Merger | ' | |||||||||||||||||||
Schedule of provisional allocation of assets and liabilities | ' | |||||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||||
Historical carrying amount | Acquisition accounting adjustment | Acquisition-date fair value as reported in 2012 10-K | Measurement period adjustments | Revised acquisition-date fair value | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash | $ | 171 | $ | — | $ | 171 | $ | — | $ | 171 | ||||||||||
Other current and non-current assets | 1,509 | (531 | ) | 978 | (14 | ) | 964 | |||||||||||||
Property, plant and equipment | 2,875 | (1,546 | ) | 1,329 | (60 | ) | 1,269 | |||||||||||||
Derivative assets | 1,226 | 12 | 1,238 | — | 1,238 | |||||||||||||||
Total assets | $ | 5,781 | $ | (2,065 | ) | $ | 3,716 | $ | (74 | ) | $ | 3,642 | ||||||||
Liabilities | ||||||||||||||||||||
Other current and non-current liabilities | $ | 705 | $ | (34 | ) | $ | 671 | $ | (2 | ) | $ | 669 | ||||||||
Out-of-market contracts and leases | — | 540 | 540 | 15 | 555 | |||||||||||||||
Derivative liabilities | 539 | (10 | ) | 529 | — | 529 | ||||||||||||||
Long-term debt and capital leases | 862 | 99 | 961 | — | 961 | |||||||||||||||
Total liabilities | $ | 2,106 | $ | 595 | $ | 2,701 | $ | 13 | $ | 2,714 | ||||||||||
Net assets | $ | 3,675 | $ | (2,660 | ) | $ | 1,015 | $ | (87 | ) | $ | 928 | ||||||||
GenOn Mid-Atlantic | ' | |||||||||||||||||||
NRG Merger | ' | |||||||||||||||||||
Schedule of provisional allocation of assets and liabilities | ' | |||||||||||||||||||
GenOn Mid-Atlantic | ||||||||||||||||||||
Historical carrying amount | Acquisition accounting adjustment | Acquisition-date fair value as reported in 2012 10-K | Measurement period adjustments | Revised acquisition-date fair value | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash | $ | 163 | $ | — | $ | 163 | $ | — | $ | 163 | ||||||||||
Other current and non-current assets | 700 | (502 | ) | 198 | (12 | ) | 186 | |||||||||||||
Property, plant and equipment | 2,399 | (1,178 | ) | 1,221 | (110 | ) | 1,111 | |||||||||||||
Derivative assets | 851 | 12 | 863 | — | 863 | |||||||||||||||
Total assets | $ | 4,113 | $ | (1,668 | ) | $ | 2,445 | $ | (122 | ) | $ | 2,323 | ||||||||
Liabilities | ||||||||||||||||||||
Other current and non-current liabilities | $ | 198 | $ | 6 | $ | 204 | — | $ | 204 | |||||||||||
Out-of-market contracts and leases | — | 540 | 540 | 15 | 555 | |||||||||||||||
Derivative liabilities | 172 | (10 | ) | 162 | — | 162 | ||||||||||||||
Long-term debt and capital leases | 14 | — | 14 | — | 14 | |||||||||||||||
Total liabilities | $ | 384 | $ | 536 | $ | 920 | $ | 15 | $ | 935 | ||||||||||
Net assets | $ | 3,729 | $ | (2,204 | ) | $ | 1,525 | $ | (137 | ) | $ | 1,388 | ||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||
Estimated carrying amounts and fair values of recorded financial instruments not carried at fair market value | ' | |||||||||||||||||
GenOn | ||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||||
(In millions) | ||||||||||||||||||
Long-term debt, including current portion | $ | 3,135 | $ | 3,066 | $ | 4,185 | $ | 4,195 | ||||||||||
Assets and liabilities measured and recorded at fair value on the consolidated balance sheets on a recurring basis | ' | |||||||||||||||||
GenOn | ||||||||||||||||||
The following tables present assets and liabilities (including affiliate amounts) measured and recorded at fair value on GenOn’s consolidated balance sheet on a recurring basis and their level within the fair value hierarchy. On July 22, 2013, concurrent with the initial public offering of NRG Yield, Inc., GenOn sold its ownership interests in NRG Marsh Landing Holdings LLC to NRG Yield LLC, which included assuming the interest rate swap liability. | ||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 137 | $ | 631 | $ | 18 | $ | 786 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 34 | $ | 159 | $ | 13 | $ | 206 | ||||||||||
Other assets (a) | $ | 37 | $ | — | $ | — | $ | 37 | ||||||||||
(a) | Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. | |||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 139 | $ | 946 | $ | 31 | $ | 1,116 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 52 | $ | 253 | $ | 14 | $ | 319 | ||||||||||
Interest rate contracts | — | 50 | — | 50 | ||||||||||||||
Total liabilities | $ | 52 | $ | 303 | $ | 14 | $ | 369 | ||||||||||
Other assets (a) | $ | 43 | $ | — | $ | — | $ | 43 | ||||||||||
(a) | Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. | |||||||||||||||||
Reconciliation of beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs | ' | |||||||||||||||||
The following tables reconcile, for the three and nine months ended September 30, 2013 and 2012, the beginning and ending balances for derivatives that are recognized at fair value in GenOn’s consolidated financial statements at least annually using significant unobservable inputs: | ||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||
(In millions) | Derivatives (a) | Derivatives (a) | Derivatives (a) | Derivatives (a) | ||||||||||||||
Beginning balance | $ | 3 | $ | (131 | ) | $ | 17 | $ | (31 | ) | ||||||||
Total gains/(losses) included in earnings — realized/unrealized | 1 | 36 | (15 | ) | (64 | ) | ||||||||||||
Purchases | 1 | — | 3 | — | ||||||||||||||
Ending balance | $ | 5 | $ | (95 | ) | $ | 5 | $ | (95 | ) | ||||||||
Gains/(losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30 | $ | — | $ | 37 | $ | 1 | $ | (99 | ) | |||||||||
(a) | Consists of derivative assets and liabilities, net. | |||||||||||||||||
Schedule of credit reserves for derivative contract assets | ' | |||||||||||||||||
The Registrants' credit reserves were as follows: | ||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||
(In millions) | ||||||||||||||||||
GenOn | $ | (2 | ) | $ | (4 | ) | ||||||||||||
GenOn Americas Generation | $ | (1 | ) | $ | (4 | ) | ||||||||||||
GenOn Mid-Atlantic | $ | (4 | ) | $ | (4 | ) | ||||||||||||
Net counterparty credit exposure by industry sector and by counterparty credit quality | ' | |||||||||||||||||
GenOn | ||||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Financial institutions | 76 | % | ||||||||||||||||
Utilities, energy merchants, marketers and other | 15 | % | ||||||||||||||||
ISOs | 8 | % | ||||||||||||||||
Coal | 1 | % | ||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Investment grade | 99 | % | ||||||||||||||||
Non-rated | 1 | % | ||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||
(a) | Counterparty credit exposure excludes transportation contracts because of the unavailability of market prices. | |||||||||||||||||
GenOn Americas Generation | ' | |||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||
Estimated carrying amounts and fair values of recorded financial instruments not carried at fair market value | ' | |||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||||
(In millions) | ||||||||||||||||||
Long-term debt, including current portion | $ | 940 | $ | 902 | $ | 946 | $ | 953 | ||||||||||
Assets and liabilities measured and recorded at fair value on the consolidated balance sheets on a recurring basis | ' | |||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||
The following tables present assets and liabilities (including affiliate amounts) measured and recorded at fair value on GenOn Americas Generation's consolidated balance sheet on a recurring basis and their level within the fair value hierarchy: | ||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 151 | $ | 686 | $ | 14 | $ | 851 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 87 | $ | 240 | $ | 10 | $ | 337 | ||||||||||
As of December 31, 2012 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 170 | $ | 991 | $ | 31 | $ | 1,192 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 123 | $ | 358 | $ | 14 | $ | 495 | ||||||||||
Reconciliation of beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs | ' | |||||||||||||||||
The following tables reconcile, for the three and nine months ended September 30, 2013 and 2012, the beginning and ending balances for GenOn Americas Generation's derivatives that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs: | ||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||
(In millions) | Derivatives (a) | Derivatives (a) | Derivatives (a) | Derivatives (a) | ||||||||||||||
Beginning balance | $ | 3 | $ | (113 | ) | $ | 17 | $ | (32 | ) | ||||||||
Total gains/(losses) included in earnings — realized/unrealized | — | 26 | (16 | ) | (55 | ) | ||||||||||||
Purchases | 1 | — | 3 | — | ||||||||||||||
Ending balance | $ | 4 | $ | (87 | ) | $ | 4 | $ | (87 | ) | ||||||||
(Losses)/gains for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30 | $ | (1 | ) | $ | 27 | $ | — | $ | (93 | ) | ||||||||
(a) Consists of derivative assets and liabilities, net. | ||||||||||||||||||
Net counterparty credit exposure by industry sector and by counterparty credit quality | ' | |||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Financial institutions | 78 | % | ||||||||||||||||
Utilities, energy merchants, marketers and other | 13 | % | ||||||||||||||||
ISOs | 8 | % | ||||||||||||||||
Coal | 1 | % | ||||||||||||||||
Total as of September 30, 2013 | 100 | % | ||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Investment grade | 100 | % | ||||||||||||||||
(a) Counterparty credit exposure excludes transportation contracts because of the unavailability of market prices. | ||||||||||||||||||
GenOn Mid-Atlantic | ' | |||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||
Assets and liabilities measured and recorded at fair value on the consolidated balance sheets on a recurring basis | ' | |||||||||||||||||
GenOn Mid-Atlantic | ||||||||||||||||||
The following tables present assets and liabilities (including affiliate amounts) measured and recorded at fair value on GenOn Mid-Atlantic's consolidated balance sheet on a recurring basis and their level within the fair value hierarchy: | ||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 82 | $ | 534 | $ | 3 | $ | 619 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 20 | $ | 86 | $ | — | $ | 106 | ||||||||||
As of December 31, 2012 | ||||||||||||||||||
Fair Value | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
(In millions) | ||||||||||||||||||
Derivative assets: | ||||||||||||||||||
Commodity contracts | $ | 63 | $ | 778 | $ | 8 | $ | 849 | ||||||||||
Derivative liabilities: | ||||||||||||||||||
Commodity contracts | $ | 16 | $ | 138 | $ | 1 | $ | 155 | ||||||||||
Reconciliation of beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs | ' | |||||||||||||||||
The following tables reconcile, for the three and nine months ended September 30, 2013 and 2012, the beginning and ending balances for GenOn Mid-Atlantic's derivatives that are recognized at fair value in the consolidated financial statements at least annually using significant unobservable inputs: | ||||||||||||||||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||
(In millions) | Derivatives (a) | Derivatives (a) | Derivatives (a) | Derivatives (a) | ||||||||||||||
Beginning balance | $ | 2 | $ | (138 | ) | $ | 7 | $ | (64 | ) | ||||||||
Total gains/(losses) included in earnings — realized/unrealized | — | 46 | (7 | ) | (28 | ) | ||||||||||||
Purchases | 1 | — | 3 | — | ||||||||||||||
Ending balance | $ | 3 | $ | (92 | ) | $ | 3 | $ | (92 | ) | ||||||||
Gains/(losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of September 30 | $ | — | $ | 45 | $ | 1 | $ | (70 | ) | |||||||||
(a) | Consists of derivative assets and liabilities, net. | |||||||||||||||||
Net counterparty credit exposure by industry sector and by counterparty credit quality | ' | |||||||||||||||||
GenOn Mid-Atlantic | ||||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Financial institutions | 100 | % | ||||||||||||||||
Category | Net Exposure (a) | |||||||||||||||||
(% of Total) | ||||||||||||||||||
Investment grade | 100 | % | ||||||||||||||||
(a)Counterparty credit exposure excludes transportation contracts because of the unavailability of market prices. |
Accounting_for_Derivative_Inst1
Accounting for Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities | ' | ||||||||||||||||||||||||
Net notional volume buy/(sell) of open derivative transactions broken out by commodity | ' | ||||||||||||||||||||||||
The following table summarizes the net notional volume buy/(sell) of the Registrants’ open derivative transactions broken out by commodity, excluding those derivatives that qualified for the NPNS exception as of September 30, 2013 and December 31, 2012. Option contracts are reflected using delta volume. Delta volume equals the notional volume of an option adjusted for the probability that the option will be in-the-money at its expiration date. | |||||||||||||||||||||||||
GenOn | GenOn Americas Generation | GenOn Mid-Atlantic | |||||||||||||||||||||||
Total Volume | Total Volume | Total Volume | |||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | As of September 30, 2013 | As of December 31, 2012 | As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||
Commodity | Units | (In millions) | |||||||||||||||||||||||
Coal | Short Ton | 7 | 5 | 4 | 4 | 4 | 4 | ||||||||||||||||||
Natural Gas | MMBtu | -163 | -194 | -119 | -150 | -119 | -150 | ||||||||||||||||||
Power | MWh | -28 | -43 | -16 | -22 | -16 | -22 | ||||||||||||||||||
Interest | Dollars | $ | — | $ | 475 | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Fair value within the derivative instrument valuation on the balance sheets | ' | ||||||||||||||||||||||||
The following tables summarize the fair value within the derivative instrument valuation on the balance sheet: | |||||||||||||||||||||||||
GenOn | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Derivatives Designated as Cash Flow Hedges: | |||||||||||||||||||||||||
Interest rate contracts current | $ | — | $ | — | $ | — | $ | 9 | |||||||||||||||||
Interest rate contracts long-term | — | — | — | 41 | |||||||||||||||||||||
Total Derivatives Designated as Cash Flow Hedges | — | — | — | 50 | |||||||||||||||||||||
Derivatives Not Designated as Cash Flow Hedges: | |||||||||||||||||||||||||
Commodity contracts current | 491 | 604 | 161 | 236 | |||||||||||||||||||||
Commodity contracts long-term | 295 | 512 | 45 | 83 | |||||||||||||||||||||
Total Derivatives Not Designated as Cash Flow Hedges | 786 | 1,116 | 206 | 319 | |||||||||||||||||||||
Total Derivatives | $ | 786 | $ | 1,116 | $ | 206 | $ | 369 | |||||||||||||||||
Offsetting of derivatives by counterparty master agreement level and collateral received or paid | ' | ||||||||||||||||||||||||
GenOn | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
September 30, 2013 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 780 | $ | (162 | ) | $ | (194 | ) | $ | 424 | |||||||||||||||
Derivative assets - affiliate | 6 | (6 | ) | — | — | ||||||||||||||||||||
Derivative liabilities | (193 | ) | 162 | — | (31 | ) | |||||||||||||||||||
Derivative liabilities - affiliate | (13 | ) | 6 | — | (7 | ) | |||||||||||||||||||
Total derivative instruments | $ | 580 | $ | — | $ | (194 | ) | $ | 386 | ||||||||||||||||
GenOn | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
December 31, 2012 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 1,107 | $ | (260 | ) | $ | (243 | ) | $ | 604 | |||||||||||||||
Derivative assets - affiliate | 9 | (9 | ) | — | — | ||||||||||||||||||||
Derivative liabilities | (310 | ) | 260 | 1 | (49 | ) | |||||||||||||||||||
Derivative liabilities - affiliate | (9 | ) | 9 | — | — | ||||||||||||||||||||
Total commodity contracts | 797 | — | (242 | ) | 555 | ||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||
Derivative liabilities | (50 | ) | — | — | (50 | ) | |||||||||||||||||||
Total derivative instruments | $ | 747 | $ | — | $ | (242 | ) | $ | 505 | ||||||||||||||||
Effects of ASC 815 on accumulated OCI balance attributable to cash flow hedge derivatives, net of tax | ' | ||||||||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Accumulated OCI balance, beginning of period | $ | 18 | $ | (46 | ) | $ | 1 | $ | (34 | ) | |||||||||||||||
Recognized in OCI on interest rate derivatives | — | (8 | ) | 19 | (19 | ) | |||||||||||||||||||
Reclassified from accumulated OCI into earnings(a)(b) | — | 2 | (2 | ) | 1 | ||||||||||||||||||||
Reversal as part of sale to NRG Yield LLC(c) | (18 | ) | — | (18 | ) | — | |||||||||||||||||||
Accumulated OCI balance, end of period | $ | — | $ | (52 | ) | $ | — | $ | (52 | ) | |||||||||||||||
(a) | Amounts reclassified from accumulated OCI into income and amounts recognized in income from the ineffective portion of cash flow hedges are recorded in interest expense. | ||||||||||||||||||||||||
(b) | All of the forecasted transactions (future interest payments) were deemed probable of occurring; therefore, no cash flow hedges were discontinued and no amount was recognized in GenOn’s results of operations as a result of discontinued cash flow hedges | ||||||||||||||||||||||||
Pre-tax effects of economic hedges that have not been designated as cash flow hedges and trading activity on the statements of operations | ' | ||||||||||||||||||||||||
The following tables summarize the pre-tax effects of economic hedges that have not been designated as cash flow hedges and trading activity on the Registrants’ statements of operations. These amounts are included within operating revenues and cost of operations. | |||||||||||||||||||||||||
GenOn | |||||||||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Unrealized mark-to-market results | |||||||||||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to economic hedges | $ | (73 | ) | $ | (60 | ) | $ | (270 | ) | $ | (288 | ) | |||||||||||||
Net unrealized gains/(losses) on open positions related to economic hedges | 18 | (125 | ) | 56 | 57 | ||||||||||||||||||||
Total unrealized mark-to-market losses for economic hedging activities | (55 | ) | (185 | ) | (214 | ) | (231 | ) | |||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to trading activity | (1 | ) | (5 | ) | (3 | ) | (3 | ) | |||||||||||||||||
Net unrealized (losses)/gains on open positions related to trading activity | (1 | ) | 2 | 1 | 4 | ||||||||||||||||||||
Total unrealized mark-to-market (losses)/gains for trading activity | (2 | ) | (3 | ) | (2 | ) | 1 | ||||||||||||||||||
Total unrealized losses | $ | (57 | ) | $ | (188 | ) | $ | (216 | ) | $ | (230 | ) | |||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Revenue from operations — energy commodities | $ | (48 | ) | $ | (246 | ) | $ | (238 | ) | $ | (205 | ) | |||||||||||||
Cost of operations | (9 | ) | 58 | 22 | (25 | ) | |||||||||||||||||||
Total impact to statements of operations | $ | (57 | ) | $ | (188 | ) | $ | (216 | ) | $ | (230 | ) | |||||||||||||
GenOn Americas Generation | ' | ||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities | ' | ||||||||||||||||||||||||
Fair value within the derivative instrument valuation on the balance sheets | ' | ||||||||||||||||||||||||
GenOn Americas Generation | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Derivatives Not Designated as Cash Flow Hedges: | |||||||||||||||||||||||||
Commodity contracts current | $ | 543 | $ | 656 | $ | 253 | $ | 362 | |||||||||||||||||
Commodity contracts long-term | 308 | 536 | 84 | 133 | |||||||||||||||||||||
Total Derivatives Not Designated as Cash Flow Hedges | $ | 851 | $ | 1,192 | $ | 337 | $ | 495 | |||||||||||||||||
Offsetting of derivatives by counterparty master agreement level and collateral received or paid | ' | ||||||||||||||||||||||||
GenOn Americas Generation | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
December 31, 2012 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 1,107 | $ | (260 | ) | $ | (243 | ) | $ | 604 | |||||||||||||||
Derivative assets - affiliate | 85 | (85 | ) | — | — | ||||||||||||||||||||
Derivative liabilities | (310 | ) | 260 | 1 | (49 | ) | |||||||||||||||||||
Derivative liabilities - affiliate | (185 | ) | 85 | — | (100 | ) | |||||||||||||||||||
Total derivative instruments | $ | 697 | $ | — | $ | (242 | ) | $ | 455 | ||||||||||||||||
GenOn Americas Generation | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
September 30, 2013 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 776 | $ | (162 | ) | $ | (194 | ) | $ | 420 | |||||||||||||||
Derivative assets - affiliate | 75 | (75 | ) | — | — | ||||||||||||||||||||
Derivative liabilities | (189 | ) | 162 | — | (27 | ) | |||||||||||||||||||
Derivative liabilities - affiliate | (148 | ) | 75 | — | (73 | ) | |||||||||||||||||||
Total derivative instruments | $ | 514 | $ | — | $ | (194 | ) | $ | 320 | ||||||||||||||||
Pre-tax effects of economic hedges that have not been designated as cash flow hedges and trading activity on the statements of operations | ' | ||||||||||||||||||||||||
GenOn Americas Generation | |||||||||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Unrealized mark-to-market results | |||||||||||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to economic hedges | $ | (69 | ) | $ | (48 | ) | $ | (218 | ) | $ | (221 | ) | |||||||||||||
Net unrealized gains/(losses) on open positions related to economic hedges | 11 | (65 | ) | 37 | 45 | ||||||||||||||||||||
Total unrealized mark-to-market losses for economic hedging activities | (58 | ) | (113 | ) | (181 | ) | (176 | ) | |||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to trading activity | (1 | ) | (5 | ) | (3 | ) | (3 | ) | |||||||||||||||||
Net unrealized (losses)/gains on open positions related to trading activity | (1 | ) | 2 | 1 | 4 | ||||||||||||||||||||
Total unrealized mark-to-market (losses)/gains for trading activity | (2 | ) | (3 | ) | (2 | ) | 1 | ||||||||||||||||||
Total unrealized losses | $ | (60 | ) | $ | (116 | ) | $ | (183 | ) | $ | (175 | ) | |||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Revenue from operations — energy commodities | $ | (52 | ) | $ | (167 | ) | $ | (205 | ) | $ | (160 | ) | |||||||||||||
Cost of operations | (8 | ) | 51 | 22 | (15 | ) | |||||||||||||||||||
Total impact to statements of operations | $ | (60 | ) | $ | (116 | ) | $ | (183 | ) | $ | (175 | ) | |||||||||||||
GenOn Mid-Atlantic | ' | ||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities | ' | ||||||||||||||||||||||||
Fair value within the derivative instrument valuation on the balance sheets | ' | ||||||||||||||||||||||||
GenOn Mid-Atlantic | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Derivatives Not Designated as Cash Flow Hedges: | |||||||||||||||||||||||||
Commodity contracts current | $ | 369 | $ | 394 | $ | 78 | $ | 100 | |||||||||||||||||
Commodity contracts long-term | 250 | 455 | 28 | 55 | |||||||||||||||||||||
Total Derivatives Not Designated as Cash Flow Hedges | $ | 619 | $ | 849 | $ | 106 | $ | 155 | |||||||||||||||||
Offsetting of derivatives by counterparty master agreement level and collateral received or paid | ' | ||||||||||||||||||||||||
GenOn Mid-Atlantic | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
September 30, 2013 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 452 | $ | (2 | ) | $ | (43 | ) | $ | 407 | |||||||||||||||
Derivative assets - affiliate | 167 | (104 | ) | — | 63 | ||||||||||||||||||||
Derivative liabilities | (2 | ) | 2 | — | — | ||||||||||||||||||||
Derivative liabilities - affiliate | (104 | ) | 104 | — | — | ||||||||||||||||||||
Total derivative instruments | $ | 513 | $ | — | $ | (43 | ) | $ | 470 | ||||||||||||||||
GenOn Mid-Atlantic | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Description | Gross Amounts of Recognized Assets / Liabilities | Derivative Instruments | Cash Collateral (Held) / Posted | Net Amount | |||||||||||||||||||||
December 31, 2012 | (In millions) | ||||||||||||||||||||||||
Commodity contracts: | |||||||||||||||||||||||||
Derivative assets | $ | 636 | $ | (3 | ) | $ | (57 | ) | $ | 576 | |||||||||||||||
Derivative assets - affiliate | 213 | (152 | ) | — | 61 | ||||||||||||||||||||
Derivative liabilities | (3 | ) | 3 | — | — | ||||||||||||||||||||
Derivative liabilities - affiliate | (152 | ) | 152 | — | — | ||||||||||||||||||||
Total derivative instruments | $ | 694 | $ | — | $ | (57 | ) | $ | 637 | ||||||||||||||||
Pre-tax effects of economic hedges that have not been designated as cash flow hedges and trading activity on the statements of operations | ' | ||||||||||||||||||||||||
GenOn Mid-Atlantic | |||||||||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Unrealized mark-to-market results | |||||||||||||||||||||||||
Reversal of previously recognized unrealized gains on settled positions related to economic hedges | $ | (70 | ) | $ | (51 | ) | $ | (220 | ) | $ | (226 | ) | |||||||||||||
Net unrealized gains/(losses) on open positions related to economic hedges | 11 | (39 | ) | 39 | 65 | ||||||||||||||||||||
Total unrealized losses | $ | (59 | ) | $ | (90 | ) | $ | (181 | ) | $ | (161 | ) | |||||||||||||
Successor | Predecessor | Successor | Predecessor | ||||||||||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | |||||||||||||||||||||
Revenue from operations — energy commodities | $ | (51 | ) | $ | (136 | ) | $ | (203 | ) | $ | (135 | ) | |||||||||||||
Cost of operations | (8 | ) | 46 | 22 | (26 | ) | |||||||||||||||||||
Total impact to statements of operations | $ | (59 | ) | $ | (90 | ) | $ | (181 | ) | $ | (161 | ) |
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Segment Reporting Information | ' | |||||||||||||||||||
Schedule of segment reporting information, by segment | ' | |||||||||||||||||||
GenOn | ||||||||||||||||||||
Successor | Three months ended September 30, 2013 | |||||||||||||||||||
East | South Central | West(a) | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 730 | $ | 4 | $ | 50 | $ | 10 | $ | 794 | ||||||||||
Operating revenues—affiliate | (7 | ) | 13 | 11 | — | 17 | ||||||||||||||
Depreciation and amortization | 49 | 1 | 10 | — | 60 | |||||||||||||||
Income/(loss) before income taxes | 119 | 10 | 19 | (37 | ) | 111 | ||||||||||||||
Net income/(loss) | $ | 119 | $ | 10 | $ | 19 | $ | (37 | ) | $ | 111 | |||||||||
Total assets(a) | $ | 5,032 | $ | 282 | $ | 357 | $ | 291 | $ | 5,962 | ||||||||||
(a) | As a result of the sale of its ownership interests in NRG Marsh Landing Holdings LLC to NRG Yield LLC in July 2013, GenOn's total assets as of September 30, 2013 exclude the assets of NRG Marsh Landing, and operating results exclude the results of NRG Marsh Landing from its sale date on July 22. See Note 9, Related Party Transactions. | |||||||||||||||||||
Predecessor | Three months ended September 30, 2012 | |||||||||||||||||||
East(b) | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 497 | $ | 21 | $ | 237 | $ | — | $ | 755 | ||||||||||
Depreciation and amortization | 73 | 2 | 10 | 6 | 91 | |||||||||||||||
(Loss)/income before income taxes | (143 | ) | 14 | 146 | (98 | ) | (81 | ) | ||||||||||||
Net (loss)/income | $ | (143 | ) | $ | 14 | $ | 146 | $ | (102 | ) | $ | (85 | ) | |||||||
(b) | Includes impairment losses of $47 million. | |||||||||||||||||||
Successor | Nine months ended September 30, 2013 | |||||||||||||||||||
East | South Central | West (c) | Corporate(d) | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 1,726 | $ | 4 | $ | 194 | $ | 10 | $ | 1,934 | ||||||||||
Operating revenues—affiliate | (11 | ) | 32 | 11 | — | 32 | ||||||||||||||
Depreciation and amortization | 140 | 4 | 30 | 7 | 181 | |||||||||||||||
Income/(loss) before income taxes | 110 | 2 | 36 | (191 | ) | (43 | ) | |||||||||||||
Net income/(loss) | $ | 110 | $ | 2 | $ | 36 | $ | (185 | ) | $ | (37 | ) | ||||||||
(c) Excludes the operating results of NRG Marsh Landing from its sale date on July 22. See Note 9, Related Party Transactions. | ||||||||||||||||||||
(d) Includes loss on debt extinguishment of $11 million. | ||||||||||||||||||||
Predecessor | Nine months ended September 30, 2012 | |||||||||||||||||||
East(e) | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 1,638 | $ | 29 | $ | 330 | $ | — | $ | 1,997 | ||||||||||
Depreciation and amortization | 213 | 7 | 33 | 16 | 269 | |||||||||||||||
(Loss)/income before income taxes | (182 | ) | 13 | 117 | (285 | ) | (337 | ) | ||||||||||||
Net (loss)/income | $ | (182 | ) | $ | 13 | $ | 117 | $ | (293 | ) | $ | (345 | ) | |||||||
GenOn Americas Generation | ' | |||||||||||||||||||
Segment Reporting Information | ' | |||||||||||||||||||
Schedule of segment reporting information, by segment | ' | |||||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||||
Successor | Three months ended September 30, 2013 | |||||||||||||||||||
East | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 721 | $ | — | $ | 48 | $ | — | $ | 769 | ||||||||||
Operating revenues—affiliate | (67 | ) | 19 | 48 | — | — | ||||||||||||||
Depreciation and amortization | 19 | — | 1 | — | 20 | |||||||||||||||
Income/(loss) before income taxes | 83 | — | — | (6 | ) | 77 | ||||||||||||||
Net income/(loss) | $ | 83 | $ | — | $ | — | $ | (6 | ) | $ | 77 | |||||||||
Total assets | $ | 2,637 | $ | — | $ | 162 | $ | 287 | $ | 3,086 | ||||||||||
Predecessor | Three months ended September 30, 2012 | |||||||||||||||||||
East | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 474 | $ | 18 | $ | 198 | $ | — | $ | 690 | ||||||||||
Operating revenues—affiliate | 123 | 16 | 19 | — | 158 | |||||||||||||||
Depreciation and amortization | 36 | — | 4 | 1 | 41 | |||||||||||||||
(Loss)/income before income taxes | (59 | ) | 11 | 6 | (20 | ) | (62 | ) | ||||||||||||
Net (loss)/income | $ | (59 | ) | $ | 11 | $ | 6 | $ | (20 | ) | $ | (62 | ) | |||||||
Successor | Nine months ended September 30, 2013 | |||||||||||||||||||
East | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 1,695 | $ | — | $ | 139 | $ | — | $ | 1,834 | ||||||||||
Operating revenues—affiliate | 67 | 33 | 5 | — | 105 | |||||||||||||||
Depreciation and amortization | 57 | — | 4 | — | 61 | |||||||||||||||
Income/(loss) before income taxes | 85 | — | 8 | (50 | ) | 43 | ||||||||||||||
Net income/(loss) | $ | 85 | $ | — | $ | 8 | $ | (50 | ) | $ | 43 | |||||||||
Predecessor | Nine months ended September 30, 2012 | |||||||||||||||||||
East | South Central | West | Corporate | Total | ||||||||||||||||
(In millions) | ||||||||||||||||||||
Operating revenues | $ | 1,552 | $ | 24 | $ | 285 | $ | — | $ | 1,861 | ||||||||||
Operating revenues—affiliate | 148 | 22 | 23 | — | 193 | |||||||||||||||
Depreciation and amortization | 107 | — | 11 | 4 | 122 | |||||||||||||||
(Loss)/income before income taxes | (60 | ) | 16 | 11 | (62 | ) | (95 | ) | ||||||||||||
Net (loss)/income | $ | (60 | ) | $ | 16 | $ | 11 | $ | (62 | ) | $ | (95 | ) | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||
Income tax (benefit)/provision | ' | |||||||||||||
GenOn’s income tax (benefit)/expense consisted of the following: | ||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||
(In millions except otherwise noted) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | ||||||||||
Income/(loss) before income taxes | 111 | (81 | ) | (43 | ) | (337 | ) | |||||||
Income tax expense/(benefit) | — | 4 | (6 | ) | 8 | |||||||||
Effective tax rate | — | % | (4.94 | )% | 13.95 | % | (2.37 | )% |
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
GenOn Americas Generation | ' | |||||||||||||||||
Related Party Transaction | ' | |||||||||||||||||
Summary of material related-party transactions with affiliates | ' | |||||||||||||||||
The following costs were incurred under these arrangements: | ||||||||||||||||||
GenOn Americas Generation | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | ||||||||||||||
Allocated costs: | ||||||||||||||||||
Cost of operations — affiliate | 2 | 8 | 7 | 25 | ||||||||||||||
Selling, general and administrative — affiliate | 18 | 19 | 57 | 58 | ||||||||||||||
Total | $ | 20 | $ | 27 | $ | 64 | $ | 83 | ||||||||||
GenOn Mid-Atlantic | ' | |||||||||||||||||
Related Party Transaction | ' | |||||||||||||||||
Summary of material related-party transactions with affiliates | ' | |||||||||||||||||
GenOn Mid-Atlantic | ||||||||||||||||||
Successor | Predecessor | Successor | Predecessor | |||||||||||||||
(In millions) | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | ||||||||||||||
Allocated costs: | ||||||||||||||||||
Cost of operations — affiliate | 2 | 2 | 5 | 8 | ||||||||||||||
Selling, general and administrative — affiliate | 15 | 15 | 48 | 45 | ||||||||||||||
Total | $ | 17 | $ | 17 | $ | 53 | $ | 53 | ||||||||||
Marsh Landing | ' | |||||||||||||||||
Related Party Transaction | ' | |||||||||||||||||
Net assets of Marsh Landing Holdings LLC sold to NRG Yield LLC | ' | |||||||||||||||||
The following table summarizes the net assets of Marsh Landing Holdings LLC sold to NRG Yield LLC: | ||||||||||||||||||
Historical carrying amount | ||||||||||||||||||
(In millions) | ||||||||||||||||||
Assets | ||||||||||||||||||
Other current and non-current assets | $ | 52 | ||||||||||||||||
Property, plant and equipment | 666 | |||||||||||||||||
Total assets | $ | 718 | ||||||||||||||||
Liabilities | ||||||||||||||||||
Other current and non-current liabilities | $ | 50 | ||||||||||||||||
Long-term debt | 500 | |||||||||||||||||
Total liabilities | $ | 550 | ||||||||||||||||
Net assets | $ | 168 | ||||||||||||||||
Basis_of_Presentation_Details
Basis of Presentation (Details) | Sep. 30, 2013 |
MW | |
Basis of Presentation | ' |
Generation capacity (in MW) | 20,242 |
GenOn Americas Generation | ' |
Basis of Presentation | ' |
Generation capacity (in MW) | 7,852 |
GenOn Mid-Atlantic | ' |
Basis of Presentation | ' |
Generation capacity (in MW) | 4,683 |
NRG_Merger_Details
NRG Merger (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 14, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 14, 2012 | Sep. 30, 2013 | Dec. 14, 2012 |
GenOn | GenOn | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Americas Generation | GenOn Americas Generation | |||
NRG Merger | ' | ' | ' | ' | ' | ' | ' | ' |
Value of the consideration for the acquisition | ' | ' | $2,200,000,000 | ' | ' | ' | ' | ' |
NRG merger exchange ratio | ' | ' | 0.1216 | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | 778,000,000 | ' | 983,000,000 | ' | ' | 163,000,000 | ' | 171,000,000 |
Cash, acquisition-date fair value | ' | ' | 983,000,000 | ' | ' | 163,000,000 | ' | 171,000,000 |
Other current and non-current assets | ' | ' | 2,049,000,000 | ' | ' | 700,000,000 | ' | 1,509,000,000 |
Other current and non-current assets, acquisition accounting adjustment | ' | ' | -664,000,000 | ' | ' | -502,000,000 | ' | -531,000,000 |
Other current and non-current assets, acquisition-date fair value | ' | ' | 1,385,000,000 | ' | ' | 198,000,000 | ' | 978,000,000 |
Other current and non-current assets, measurement period adjustments | ' | ' | ' | -18,000,000 | -12,000,000 | ' | -14,000,000 | ' |
Other current and non-current assets, revised acquisition-date fair value | ' | ' | 1,367,000,000 | ' | ' | 186,000,000 | ' | 964,000,000 |
Property, plant and equipment, historical carrying amount | 3,270,000,000 | 3,919,000,000 | 6,286,000,000 | ' | ' | 2,399,000,000 | ' | 2,875,000,000 |
Property, plant and equipment, acquistion accounting adjustment | ' | ' | -2,350,000,000 | ' | ' | -1,178,000,000 | ' | -1,546,000,000 |
Property, plant and equipment, acquisition-date fair value | ' | ' | 3,936,000,000 | ' | ' | 1,221,000,000 | ' | 1,329,000,000 |
Property, plant and equipment, measurement period adjustments | ' | ' | ' | -27,000,000 | -110,000,000 | ' | -60,000,000 | ' |
Property, plant and equipment, revised acquistion-date fair value | ' | ' | 3,909,000,000 | ' | ' | 1,111,000,000 | ' | 1,269,000,000 |
Derivative assets, historical carrying amount | ' | ' | 1,143,000,000 | ' | ' | 851,000,000 | ' | 1,226,000,000 |
Derivative assets, acquisition accounting adjustment | ' | ' | 14,000,000 | ' | ' | 12,000,000 | ' | 12,000,000 |
Derivative assets, acquisition-date fair value | ' | ' | 1,157,000,000 | ' | ' | 863,000,000 | ' | 1,238,000,000 |
Deferred income taxes (assets), historical carrying amount | ' | ' | 220,000,000 | ' | ' | ' | ' | ' |
Deferred income taxes (assets), acquisition-date fair value | ' | ' | 220,000,000 | ' | ' | ' | ' | ' |
Total Assets | 5,962,000,000 | 7,461,000,000 | 10,681,000,000 | ' | ' | 4,113,000,000 | ' | 5,781,000,000 |
Total assets, acquisition accounting adjustment | ' | ' | -3,000,000,000 | ' | ' | -1,668,000,000 | ' | -2,065,000,000 |
Total assets, acquisition-date fair value | ' | ' | 7,681,000,000 | ' | ' | 2,445,000,000 | ' | 3,716,000,000 |
Total assets, measurement period adjustments | ' | ' | ' | -45,000,000 | -122,000,000 | ' | -74,000,000 | ' |
Total assets, revised acquisition-date fair value | ' | ' | 7,636,000,000 | ' | ' | 2,323,000,000 | ' | 3,642,000,000 |
Liabilities | ' | ' | ' | ' | ' | ' | ' | ' |
Other current and non-current liabilities | ' | ' | 1,299,000,000 | ' | ' | 198,000,000 | ' | 705,000,000 |
Other current and non-current liabilities, acquisition accounting adjustment | ' | ' | 13,000,000 | ' | ' | 6,000,000 | ' | -34,000,000 |
Other current and non-current liabilities, acquisition-date fair value | ' | ' | 1,312,000,000 | ' | ' | 204,000,000 | ' | 671,000,000 |
Other current and non-current liabilities, measurement period adjustments | ' | ' | ' | -7,000,000 | ' | ' | -2,000,000 | ' |
Other current and non-current liabilities, revised acquisition-date fair value | ' | ' | 1,305,000,000 | ' | ' | ' | ' | 669,000,000 |
Out-of-market contracts and leases, historical carrying amount | 1,021,000,000 | 1,077,000,000 | 331,000,000 | ' | ' | ' | ' | ' |
Out of market contracts and leases, acquisition accounting adjustment | ' | ' | 733,000,000 | ' | ' | 540,000,000 | ' | 540,000,000 |
Out-of-market contracts and leases, acquisition-date fair value | ' | ' | 1,064,000,000 | ' | ' | 540,000,000 | ' | 540,000,000 |
Out-of-market contracts and leases, measurement period adjustments | ' | ' | ' | 15,000,000 | 15,000,000 | ' | 15,000,000 | ' |
Out-of-market contracts and leases, revised acquistion-date fair value | ' | ' | 1,079,000,000 | ' | ' | 555,000,000 | ' | 555,000,000 |
Derivative liabilities, historical carrying amount | ' | ' | 414,000,000 | ' | ' | 172,000,000 | ' | 539,000,000 |
Derivative liabilities, acquisition accounting adjustment | ' | ' | -15,000,000 | ' | ' | -10,000,000 | ' | -10,000,000 |
Derivative liabilities, acquisition-date fair value | ' | ' | 399,000,000 | ' | ' | 162,000,000 | ' | 529,000,000 |
Deferred income taxes (liabilities), historical carrying amount | ' | ' | 220,000,000 | ' | ' | ' | ' | ' |
Deferred income taxes (liabilities), acquisition-date fair value | ' | ' | 220,000,000 | ' | ' | ' | ' | ' |
Long-term debt and capital leases, historical carrying amount | ' | ' | 3,725,000,000 | ' | ' | 14,000,000 | ' | 862,000,000 |
Long-term debt and capital leases, acquisition accounting adjustment | ' | ' | 478,000,000 | ' | ' | ' | ' | 99,000,000 |
Long-term debt and capital leases, acquisition-date fair value | ' | ' | 4,203,000,000 | ' | ' | 14,000,000 | ' | 961,000,000 |
Long-term debt and capital leases, measurement period adjustments | ' | ' | ' | 3,000,000 | ' | ' | ' | ' |
Long-term debt and capital leases, revised acquisition-date fair value | ' | ' | 4,206,000,000 | ' | ' | ' | ' | ' |
Total liabilities | 5,566,000,000 | 7,104,000,000 | 5,989,000,000 | ' | ' | 384,000,000 | ' | 2,106,000,000 |
Total liabilities, acquisition accounting adjustment | ' | ' | 1,209,000,000 | ' | ' | 536,000,000 | ' | 595,000,000 |
Total liabilities, acquisition-date fair value | ' | ' | 7,198,000,000 | ' | ' | 920,000,000 | ' | 2,701,000,000 |
Total liabilities, measurement period adjustments | ' | ' | ' | 11,000,000 | 15,000,000 | ' | 13,000,000 | ' |
Total liabilities, revised acquisition-date fair value | ' | ' | 7,209,000,000 | ' | ' | 935,000,000 | ' | 2,714,000,000 |
Net assets | ' | ' | ' | ' | ' | ' | ' | ' |
Net assets, historical carrying amount | ' | ' | 4,692,000,000 | ' | ' | 3,729,000,000 | ' | 3,675,000,000 |
Net assets, acquisition accounting adjustment | ' | ' | -4,209,000,000 | ' | ' | -2,204,000,000 | ' | -2,660,000,000 |
Net assets, acquisition-date fair value | ' | ' | 483,000,000 | ' | ' | 1,525,000,000 | ' | 1,015,000,000 |
Net assets, measurement period adjustments | ' | ' | ' | -56,000,000 | -137,000,000 | ' | -87,000,000 | ' |
Net assets, revised acquisition-date fair value | ' | ' | $427,000,000 | ' | ' | $1,388,000,000 | ' | $928,000,000 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Carrying Amount | ' | ' |
Fair Value of Financial Instruments | ' | ' |
Long-term debt | $3,135 | $4,185 |
Fair Value | ' | ' |
Fair Value of Financial Instruments | ' | ' |
Long-term debt | 3,066 | 4,195 |
GenOn Americas Generation | Carrying Amount | ' | ' |
Fair Value of Financial Instruments | ' | ' |
Long-term debt | 940 | 946 |
GenOn Americas Generation | Fair Value | ' | ' |
Fair Value of Financial Instruments | ' | ' |
Long-term debt | $902 | $953 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | $786 | $1,116 | ||
Fair Value, Measurements, Recurring | Level 1 | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative liabilities | ' | 52 | ||
Other assets | 37 | [1] | 43 | [1] |
Fair Value, Measurements, Recurring | Level 1 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 137 | 139 | ||
Derivative liabilities | 34 | 52 | ||
Fair Value, Measurements, Recurring | Level 1 | Interest rate contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative liabilities | ' | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative liabilities | ' | 303 | ||
Other assets | 0 | [1] | 0 | [1] |
Fair Value, Measurements, Recurring | Level 2 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 631 | 946 | ||
Derivative liabilities | 159 | 253 | ||
Fair Value, Measurements, Recurring | Level 2 | Interest rate contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative liabilities | ' | 50 | ||
Fair Value, Measurements, Recurring | Level 3 | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative liabilities | ' | 14 | ||
Other assets | 0 | [1] | 0 | [1] |
Fair Value, Measurements, Recurring | Level 3 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 18 | 31 | ||
Derivative liabilities | 13 | 14 | ||
Fair Value, Measurements, Recurring | Level 3 | Interest rate contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative liabilities | ' | 0 | ||
Fair Value, Measurements, Recurring | Fair Value | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative liabilities | ' | 369 | ||
Other assets | 37 | [1] | 43 | [1] |
Fair Value, Measurements, Recurring | Fair Value | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 786 | 1,116 | ||
Derivative liabilities | 206 | 319 | ||
Fair Value, Measurements, Recurring | Fair Value | Interest rate contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative liabilities | ' | 50 | ||
GenOn Americas Generation | Fair Value, Measurements, Recurring | Level 1 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 151 | 170 | ||
Derivative liabilities | 87 | 123 | ||
GenOn Americas Generation | Fair Value, Measurements, Recurring | Level 2 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 686 | 991 | ||
Derivative liabilities | 240 | 358 | ||
GenOn Americas Generation | Fair Value, Measurements, Recurring | Level 3 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 14 | 31 | ||
Derivative liabilities | 10 | 14 | ||
GenOn Americas Generation | Fair Value, Measurements, Recurring | Fair Value | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 851 | 1,192 | ||
Derivative liabilities | 337 | 495 | ||
GenOn Mid-Atlantic | Fair Value, Measurements, Recurring | Level 1 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 82 | 63 | ||
Derivative liabilities | 20 | 16 | ||
GenOn Mid-Atlantic | Fair Value, Measurements, Recurring | Level 2 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 534 | 778 | ||
Derivative liabilities | 86 | 138 | ||
GenOn Mid-Atlantic | Fair Value, Measurements, Recurring | Level 3 | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 3 | 8 | ||
Derivative liabilities | 0 | 1 | ||
GenOn Mid-Atlantic | Fair Value, Measurements, Recurring | Fair Value | Commodity contracts | ' | ' | ||
Fair Value Assets and Liabilities, Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 619 | 849 | ||
Derivative liabilities | $106 | $155 | ||
[1] | Primarily consists of mutual funds held in rabbi trusts for non-qualified deferred compensation plans for certain former employees. |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments (Details 3) (Derivatives, USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | ||||||||||||
Successor | Successor | Predecessor | Predecessor | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | |||||||||||||
Successor | Successor | Predecessor | Predecessor | Successor | Successor | Predecessor | Predecessor | |||||||||||||||||
Reconciliation of the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Beginning Balance | $3 | [1] | $17 | [1] | ($131) | [1] | ($31) | [1] | $3 | [1] | $17 | [1] | ($113) | [1] | ($32) | [1] | $2 | [2] | $7 | [2] | ($138) | [2] | ($64) | [2] |
Total gains and losses (realized/unrealized) included in earnings | 1 | [1] | -15 | [1] | 36 | [1] | -64 | [1] | 0 | [1] | -16 | [1] | 26 | [1] | -55 | [1] | 0 | [2] | -7 | [2] | 46 | [2] | -28 | [2] |
Purchases | 1 | [1] | 3 | [1] | 0 | [1] | 0 | [1] | 1 | [1] | 3 | [1] | 0 | [1] | 0 | [1] | 1 | [2] | 3 | [2] | 0 | [2] | 0 | [2] |
Ending Balance | 5 | [1] | 5 | [1] | -95 | [1] | -95 | [1] | 4 | [1] | 4 | [1] | -87 | [1] | -87 | [1] | 3 | 3 | -92 | -92 | ||||
Gains/(losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of period end | $0 | [1] | $1 | [1] | $37 | [1] | ($99) | [1] | ($1) | $0 | [1] | $27 | [1] | ($93) | [1] | $0 | [2] | $1 | [2] | $45 | [2] | ($70) | [2] | |
[1] | Consists of derivative assets and liabilities, net. | |||||||||||||||||||||||
[2] | Consists of derivative assets and liabilities, net |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments (Details 4) (USD $) | 9 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | |
Derivative fair value measurements | ' | ' | |
Total derivative assets valued with prices provied by models and other valuation techniques (as a percent) | 2.00% | ' | |
Total derivative liabilities valued with prices provied by models and other valuation techniques (as a percent) | 6.00% | ' | |
Credit reserve balance | ($2) | ($4) | |
Concentration of credit risk | ' | ' | |
Counterparty credit exposure | 593 | ' | |
Collateral held (cash and letters of credit) against counterparty credit exposure | 43 | ' | |
Counterparty credit exposure, net | 550 | ' | |
Counterparty credit exposure before collateral expected to roll off by the end of 2014 (as a percent) | 88.00% | ' | |
Net exposure (as a percent) | 100.00% | [1] | ' |
Counterparty credit risk exposure to certain counterparties, threshold (as a percent) | ' | 10.00% | |
Aggregate counterparty credit risk exposure for counterparties representing exposure above threshold percentage | 447 | ' | |
Investment grade | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 99.00% | [1] | ' |
Non-rated | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 1.00% | [1] | ' |
Financial institutions | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 76.00% | [1] | ' |
Utilities, energy merchants, marketers and other | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 15.00% | [1] | ' |
ISOs | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 8.00% | [1] | ' |
Coal | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 1.00% | [1] | ' |
GenOn Americas Generation | ' | ' | |
Derivative fair value measurements | ' | ' | |
Total derivative assets valued with prices provied by models and other valuation techniques (as a percent) | 2.00% | ' | |
Total derivative liabilities valued with prices provied by models and other valuation techniques (as a percent) | 3.00% | ' | |
Credit reserve balance | -1 | -4 | |
Concentration of credit risk | ' | ' | |
Counterparty credit exposure | 582 | ' | |
Collateral held (cash and letters of credit) against counterparty credit exposure | 43 | ' | |
Counterparty credit exposure, net | 539 | ' | |
Counterparty credit exposure before collateral expected to roll off by the end of 2014 (as a percent) | 88.00% | ' | |
Net exposure (as a percent) | 100.00% | [1] | ' |
Counterparty credit risk exposure to certain counterparties, threshold (as a percent) | ' | 10.00% | |
Aggregate counterparty credit risk exposure for counterparties representing exposure above threshold percentage | 447 | ' | |
GenOn Americas Generation | Investment grade | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 100.00% | [1] | ' |
GenOn Americas Generation | Financial institutions | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 78.00% | [1] | ' |
GenOn Americas Generation | Utilities, energy merchants, marketers and other | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 13.00% | [1] | ' |
GenOn Americas Generation | ISOs | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 8.00% | [1] | ' |
GenOn Americas Generation | Coal | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 1.00% | [1] | ' |
GenOn Mid-Atlantic | ' | ' | |
Derivative fair value measurements | ' | ' | |
Total derivative assets valued with prices provied by models and other valuation techniques (as a percent) | 0.00% | ' | |
Total derivative liabilities valued with prices provied by models and other valuation techniques (as a percent) | 0.00% | ' | |
Credit reserve balance | -4 | -4 | |
Concentration of credit risk | ' | ' | |
Counterparty credit exposure | 455 | ' | |
Collateral held (cash and letters of credit) against counterparty credit exposure | 43 | ' | |
Counterparty credit exposure, net | 412 | ' | |
Counterparty credit exposure before collateral expected to roll off by the end of 2014 (as a percent) | 91.00% | ' | |
Counterparty credit risk exposure to certain counterparties, threshold (as a percent) | ' | 10.00% | |
Aggregate counterparty credit risk exposure for counterparties representing exposure above threshold percentage | $382 | ' | |
GenOn Mid-Atlantic | Investment grade | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 100.00% | [1] | ' |
GenOn Mid-Atlantic | Financial institutions | ' | ' | |
Concentration of credit risk | ' | ' | |
Net exposure (as a percent) | 100.00% | [1] | ' |
[1] | Counterparty credit exposure excludes transportation contracts because of the unavailability of market prices. |
Accounting_for_Derivative_Inst2
Accounting for Derivative Instruments and Hedging Activities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||||
In Millions, unless otherwise specified | Commodity contracts | Derivatives Designated as Cash Flow Hedges | Derivatives Designated as Cash Flow Hedges | Derivatives Designated as Cash Flow Hedges | Derivatives Designated as Cash Flow Hedges | Derivatives Designated as Cash Flow Hedges | Derivatives Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Successor | Successor | Predecessor | Predecessor | Short Ton | Short Ton | Short Ton | Short Ton | Short Ton | Short Ton | MMbtu | MMbtu | MMbtu | MMbtu | MMbtu | MMbtu | MWh | MWh | MWh | MWh | MWh | MWh | Dollars | Dollars | Dollars | Dollars | Dollars | Dollars | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | ||||||
Interest rate contracts current | Interest rate contracts current | Interest rate contracts long-term | Interest rate contracts long-term | Commodity contracts current | Commodity contracts current | Commodity contracts long-term | Commodity contracts long-term | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Derivatives Not Designated as Cash Flow Hedges | Coal | Coal | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Natural Gas | Natural Gas | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Power | Power | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Interest Rate Swap | Interest Rate Swap | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Commodity contracts | Commodity contracts | Interest rate contracts | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Commodity contracts | Commodity contracts | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | ||||||||||||||||||||
Commodity contracts current | Commodity contracts current | Commodity contracts long-term | Commodity contracts long-term | Commodity contracts current | Commodity contracts current | Commodity contracts long-term | Commodity contracts long-term | Coal | Coal | Coal | Coal | Natural Gas | Natural Gas | Natural Gas | Natural Gas | Power | Power | Power | Power | Interest Rate Swap | Interest Rate Swap | Interest Rate Swap | Interest Rate Swap | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | Commodity contracts | |||||||||||||||||||||||||||||||||||||||||||||
Derivative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reversal as part of sale to NRG Yield LLC(c) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($18) | [1] | ($18) | [1] | $0 | [1] | $0 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Volumetric Underlying Derivative Transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Net notional volume buy/(sell) of open derivative transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | 5,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | -163,000,000 | -194,000,000 | -119,000,000 | -150,000,000 | -119,000,000 | -150,000,000 | -28,000,000 | -43,000,000 | -16,000,000 | -22,000,000 | -16,000,000 | -22,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Net notional volume buy/(sell) of open derivative transactions, monetary commodity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 475 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Fair Value of Derivative Instruments/Offsetting of Derivatives by Counterparty Master Agreement Level and Collateral Received or Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Gross Amount of Recognized Derivative Assets | 786 | 1,116 | ' | 0 | 0 | 0 | 0 | 0 | 0 | 786 | 1,116 | 491 | 604 | 295 | 512 | ' | ' | 851 | 1,192 | 543 | 656 | 308 | 536 | ' | ' | 619 | 849 | 369 | 394 | 250 | 455 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 780 | 1,107 | ' | 776 | 1,107 | 452 | 636 | 6 | 9 | 75 | 85 | 167 | 213 | ||||
Gross Amounts of Recognized Derivative Liabilities | -206 | -369 | ' | 0 | -50 | 0 | 9 | 0 | 41 | -206 | -319 | 161 | 236 | 45 | 83 | ' | ' | -337 | -495 | 253 | 362 | 84 | 133 | ' | ' | -106 | -155 | 78 | 100 | 28 | 55 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -193 | -310 | -50 | -189 | -310 | -2 | -3 | -13 | -9 | -148 | -185 | -104 | -152 | ||||
Derivative Instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -162 | -260 | ' | -162 | -260 | -2 | -3 | -6 | -9 | -75 | -85 | -104 | -152 | ||||
Derivative Instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 162 | 260 | 0 | 162 | 260 | 2 | 3 | 6 | 9 | 75 | 85 | 104 | 152 | ||||
Cash Collateral (Held) | 122 | 140 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 122 | 140 | ' | ' | ' | ' | ' | ' | 43 | 57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 194 | 243 | ' | -194 | 243 | 43 | 57 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
Cash Collateral Posted | 35 | 148 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24 | 91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
Net Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 424 | 604 | ' | 420 | 604 | 407 | 576 | 0 | 0 | 0 | 0 | 63 | 61 | ||||
Net Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31 | -49 | -50 | 27 | -49 | 0 | 0 | 7 | 0 | 73 | -100 | 0 | 0 | ||||
Gross Amounts of Recognized Assets / Liabilities | 580 | 747 | 797 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 514 | 697 | ' | ' | ' | ' | ' | ' | 513 | 694 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Derivative Instruments | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Cash Collateral (Held) / Posted | -194 | -242 | -242 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -194 | 242 | ' | ' | ' | ' | ' | ' | -43 | -57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Net Amount | $386 | $505 | $555 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $320 | $455 | ' | ' | ' | ' | ' | ' | $470 | $637 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
[1] | (c)The reversal of accumulated OCI as part of the sale of NRG Marsh Landing to NRG Yield LLC resulted in the recognition of additional paid in capital. |
Accounting_for_Derivative_Inst3
Accounting for Derivative Instruments and Hedging Activities (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | ||||||||
Successor | Successor | Predecessor | Predecessor | Reclassification out of Accumulated Other Comprehensive Income | Reclassification out of Accumulated Other Comprehensive Income | Reclassification out of Accumulated Other Comprehensive Income | Reclassification out of Accumulated Other Comprehensive Income | |||||||||
Successor | Successor | Predecessor | Predecessor | |||||||||||||
Effects GenOn's Accumulated OCI Balance Attributable to Cash Flow Hedge Derivatives | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Accumulated OCI balance, beginning of period | $18 | $1 | ($46) | ($34) | ' | ' | ' | ' | ||||||||
Recognized in OCI on interest rate derivatives | 0 | 19 | -8 | -19 | ' | ' | ' | ' | ||||||||
Reclassified from accumulated OCI into earnings(a)(b) | 111 | -37 | -85 | -345 | 0 | [1],[2] | -2 | [1],[2] | 2 | [1],[2] | 1 | [1],[2] | ||||
Reversal as part of sale to NRG Yield LLC(c) | -18 | [3] | -18 | [3] | 0 | [3] | 0 | [3] | ' | ' | ' | ' | ||||
Accumulated OCI balance, end of period | $0 | $0 | ($52) | ($52) | ' | ' | ' | ' | ||||||||
[1] | All of the forecasted transactions (future interest payments) were deemed probable of occurring; therefore, no cash flow hedges were discontinued and no amount was recognized in GenOnbs results of operations as a result of discontinued cash flow hedges. | |||||||||||||||
[2] | Amounts reclassified from accumulated OCI into income and amounts recognized in income from the ineffective portion of cash flow hedges are recorded in interest expense. | |||||||||||||||
[3] | (c)The reversal of accumulated OCI as part of the sale of NRG Marsh Landing to NRG Yield LLC resulted in the recognition of additional paid in capital. |
Accounting_for_Derivative_Inst4
Accounting for Derivative Instruments and Hedging Activities (Details 3) (USD $) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 |
In Millions, unless otherwise specified | GenOn Americas Generation | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | |
Gains (losses) included in operating revenues | Gains (losses) included in operating revenues | Gains (losses) included in cost of operations | Gains (losses) included in cost of operations | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Gains (losses) included in operating revenues | Gains (losses) included in operating revenues | Gains (losses) included in cost of operations | Gains (losses) included in cost of operations | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | |||||||
Gains (losses) included in operating revenues | Gains (losses) included in operating revenues | Gains (losses) included in cost of operations | Gains (losses) included in cost of operations | Gains (losses) included in operating revenues | Gains (losses) included in operating revenues | Gains (losses) included in cost of operations | Gains (losses) included in cost of operations | Gains (losses) included in operating revenues | Gains (losses) included in operating revenues | Gains (losses) included in cost of operations | Gains (losses) included in cost of operations | Gains (losses) included in operating revenues | Gains (losses) included in operating revenues | Gains (losses) included in cost of operations | Gains (losses) included in cost of operations | |||||||||||||||||||||||
Derivative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | ' | ' | $0 | $19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($8) | ($19) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized mark-to-market results | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reversal of previously recognized unrealized losses/(gains) on settled positions related to economic hedges | ' | ' | -73 | -270 | ' | ' | ' | ' | -69 | -218 | ' | ' | ' | ' | -70 | -220 | ' | ' | ' | ' | -60 | -288 | ' | ' | ' | ' | -48 | -221 | ' | ' | ' | ' | -51 | -226 | ' | ' | ' | ' |
Net unrealized gains/(losses) on open positions related to economic hedges | ' | ' | 18 | 56 | ' | ' | ' | ' | 11 | 37 | ' | ' | ' | ' | 11 | 39 | ' | ' | ' | ' | -125 | 57 | ' | ' | ' | ' | -65 | 45 | ' | ' | ' | ' | -39 | 65 | ' | ' | ' | ' |
Total unrealized mark-to-market gains/(losses) for economic hedging activities | ' | ' | -55 | -214 | ' | ' | ' | ' | -58 | -181 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -185 | -231 | ' | ' | ' | ' | -113 | -176 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reversal of previously recognized unrealized losses/(gains) on settled positions related to trading activity | ' | ' | -1 | -3 | ' | ' | ' | ' | -1 | -3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5 | -3 | ' | ' | ' | ' | -5 | -3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net unrealized gains/(losses) on open positions related to trading activity | ' | ' | -1 | 1 | ' | ' | ' | ' | -1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 4 | ' | ' | ' | ' | 2 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrealized mark-to-market gains/(losses) for trading activity | ' | ' | -2 | -2 | ' | ' | ' | ' | -2 | -2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 | 1 | ' | ' | ' | ' | -3 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrealized gains/(losses) | ' | ' | -57 | -216 | -48 | -238 | -9 | 22 | -60 | -183 | -52 | -205 | -8 | 22 | -59 | -181 | -51 | -203 | -8 | 22 | -188 | -230 | -246 | -205 | 58 | -25 | -116 | -175 | -167 | -160 | 51 | -15 | -90 | -161 | -136 | -135 | 46 | -26 |
Impact of derivative instruments to statement of operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total impact to statement of operations | ' | ' | -57 | -216 | -48 | -238 | -9 | 22 | -60 | -183 | -52 | -205 | -8 | 22 | -59 | -181 | -51 | -203 | -8 | 22 | -188 | -230 | -246 | -205 | 58 | -25 | -116 | -175 | -167 | -160 | 51 | -15 | -90 | -161 | -136 | -135 | 46 | -26 |
Credit Risk Related Contingent Features | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Collateral required for contracts with adequate assurance clauses in net liability positions | 27 | 27 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Collateral required for contracts with credit rating contingent features in net liability position | 0.4 | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Collateral due on net liability position that has not been called by a certain marginable agreement counterparty | $2 | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Details
Debt (Details) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 31-May-13 |
Senior Secured Notes 2014 | Senior Secured Notes 2014 | Marsh Landing | GenOn Energy Holdings | |
Marsh Landing | ||||
Debt | ' | ' | ' | ' |
Redeemed debt, face value | ' | $575 | ' | ' |
Repurchase/redemption price, percentage of face amount (as a percent) | 1.06778 | ' | ' | ' |
Loss on debt extinguishment | ' | 11 | ' | ' |
Letters of credit issued and outstanding at period end, amount | ' | ' | 26 | ' |
Issued letters of credit returned, amount | ' | ' | ' | $80 |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | |||||||||||||||||||
In Millions, unless otherwise specified | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Non-affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | Affiliate | |||||||||||||||||||||
Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | ||||||||||||||||||||||||||||
East | East | South Central | South Central | West | West | East | East | East | South Central | South Central | West | West | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | |||||||||||||||||||||||||||||||||||||||||
East | East | South Central | South Central | West | West | East | East | South Central | South Central | West | West | East | East | South Central | South Central | West | West | East | South Central | West | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | East | East | South Central | South Central | West | West | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Conventional Power Generation | Corporate | Corporate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
East | East | South Central | South Central | West | West | East | East | South Central | South Central | West | West | East | East | South Central | South Central | West | West | East | East | South Central | South Central | West | West | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||
Operating revenues | ' | ' | $811 | $1,966 | ' | ' | ' | ' | ' | ' | ' | ' | $755 | $1,997 | ' | $497 | [1] | ' | $21 | ' | $237 | ' | $0 | ' | ' | ' | $769 | $1,939 | ' | ' | ' | ' | ' | ' | ' | ' | $848 | $2,054 | ' | ' | ' | ' | ' | ' | ' | ' | $794 | $1,934 | $730 | $1,726 | $4 | $4 | $50 | [2] | $194 | [3] | $10 | $10 | [4] | $1,997 | $1,638 | [1] | $29 | $330 | $0 | $769 | $1,834 | $721 | $1,695 | $0 | $0 | $48 | $139 | $0 | $0 | $690 | $1,861 | $474 | $1,552 | $18 | $24 | $198 | $285 | $0 | $0 | $17 | $32 | ($7) | ($11) | $13 | $32 | $11 | [2] | $11 | [3] | $0 | $0 | [4] | $0 | $105 | ($67) | $67 | $19 | $33 | $48 | $5 | $0 | $0 | $158 | $193 | $123 | $148 | $16 | $22 | $19 | $23 | $0 | $0 | |||||||||||
Depreciation and amortization | ' | ' | 60 | 181 | 49 | 140 | 1 | 4 | 10 | [2] | 30 | [3] | 0 | 7 | [4] | 91 | 269 | ' | 73 | [1] | 213 | [1] | 2 | 7 | 10 | 33 | 6 | 16 | ' | ' | 20 | 61 | 19 | 57 | 0 | 0 | 1 | 4 | 0 | 0 | 41 | 122 | 36 | 107 | 0 | 0 | 4 | 11 | 1 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Income/(loss) before income taxes | ' | ' | 111 | -43 | 119 | 110 | 10 | 2 | 19 | [2] | 36 | [3] | -37 | -191 | [4] | -81 | -337 | ' | -143 | [1] | -182 | [1] | 14 | 13 | 146 | 117 | -98 | -285 | ' | ' | 77 | 43 | 83 | 85 | 0 | 0 | 0 | 8 | -6 | -50 | -62 | -95 | -59 | -60 | 11 | 16 | 6 | 11 | -20 | -62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Net loss | ' | ' | 111 | -37 | 119 | 110 | 10 | 2 | 19 | [2] | 36 | [3] | -37 | -185 | [4] | -85 | -345 | ' | -143 | [1] | -182 | [1] | 14 | 13 | 146 | 117 | -102 | -293 | ' | ' | 77 | 43 | 83 | 85 | 0 | 0 | 0 | 8 | -6 | -50 | -62 | -95 | -59 | -60 | 11 | 16 | 6 | 11 | -20 | -62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||
Total assets | 5,962 | 7,461 | 5,962 | [2] | 5,962 | [2] | 5,032 | [2] | 5,032 | [2] | 282 | [2] | 282 | [2] | 357 | [2] | 357 | [2] | 291 | [2] | 291 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,086 | 3,387 | 3,086 | 3,086 | 2,637 | 2,637 | 0 | 0 | 162 | 162 | 287 | 287 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Impairment losses included in East | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47 | 47 | ' | 47 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||
Loss on debt extinguishment in Corporate | ' | ' | ' | $11 | ' | ' | ' | ' | ' | ' | ' | $11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||
[1] | Includes impairment losses of $47 million. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | As a result of the sale of its ownership interests in NRG Marsh Landing Holdings LLC to NRG Yield LLC in July 2013, GenOn's total assets as of September 30, 2013 exclude the assets of NRG Marsh Landing, and operating results exclude the results of NRG Marsh Landing from its sale date on July 22. See Note 9, Related Party Transactions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Excludes the operating results of NRG Marsh Landing from its sale date on July 22. See Note 9, Related Party Transactions. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Includes loss on debt extinguishment of $11 million. |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Successor | Successor | Predecessor | Predecessor | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | Pro Forma | Pro Forma | Pro Forma | Pro Forma | Pro Forma | Pro Forma | Pro Forma | Pro Forma | |
Successor | Successor | Successor | Successor | Predecessor | Predecessor | Successor | Successor | Predecessor | Predecessor | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Americas Generation | GenOn Americas Generation | |||||
Successor | Successor | Predecessor | Predecessor | |||||||||||||||||||
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income/(loss) before income taxes | $111 | ($43) | ($81) | ($337) | $87 | ' | $78 | ' | ($29) | ($15) | $77 | $43 | ($62) | ($95) | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax (benefit)/expense | 0 | -6 | 4 | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | 36 | 32 | 12 | 6 | ' | ' |
Effective tax rate (as a percent) | 0.00% | 13.95% | -4.94% | -2.37% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statutory tax rate (as a percent) | 35.00% | 35.00% | 35.00% | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $566 | $598 | ' | ' | ' | ' | $0 | $0 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | |||||||||||||||||
In Millions, unless otherwise specified | Jul. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jul. 22, 2013 | |
GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Successor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Predecessor | Letter of Credit | Letter of Credit | Letter of Credit | Letter of Credit | Letter of Credit | Letter of Credit | Marsh Landing | |||||
GenOn Energy Holdings | GenOn Energy Holdings | NRG Energy | NRG Energy | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Direct cost of operations | Direct cost of operations | Direct cost of operations | Direct cost of operations | Allocated cost of operations | Allocated cost of operations | Allocated cost of operations | Allocated cost of operations | Allocated selling, general and administrative | Allocated selling, general and administrative | Allocated selling, general and administrative | Allocated selling, general and administrative | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Direct cost of operations | Direct cost of operations | Direct cost of operations | Direct cost of operations | Allocated cost of operations | Allocated cost of operations | Allocated cost of operations | Allocated cost of operations | Allocated selling, general and administrative | Allocated selling, general and administrative | Allocated selling, general and administrative | Allocated selling, general and administrative | Intercompany Credit Agreement | Intercompany Credit Agreement | Intercompany Credit Agreement | Intercompany Credit Agreement | Intercompany Credit Agreement | Intercompany Credit Agreement | NRG Yield LLC | ||||||||||
GenOn Energy Management | GenOn Energy Management | NRG Energy | NRG Energy | GenOn Energy Management | GenOn Energy Management | NRG Energy | NRG Energy | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Energy Management | GenOn Energy Management | GenOn | GenOn | GenOn Energy Management | GenOn Energy Management | GenOn | GenOn | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | NRG Energy | NRG Energy | GenOn Americas Generation | GenOn Americas Generation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | ||||||||||||||||
NRG Energy | NRG Energy | NRG Energy | NRG Energy | NRG Energy | NRG Energy | NRG Energy | NRG Energy | NRG Energy | NRG Energy | NRG Energy | NRG Energy | GenOn | GenOn | GenOn | GenOn | GenOn | GenOn | GenOn | GenOn | GenOn | GenOn | GenOn | GenOn | NRG Energy | NRG Energy | NRG Energy | NRG Energy | ||||||||||||||||||||||||||||||||||
Related Party Transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Annual fees under services agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $193 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Affiliate cost recorded in selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37 | 62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 57 | 15 | 48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19 | 58 | 15 | 45 | ' | ' | ' | ' | ' | ' | ' | |
Affiliate cost recorded in cost of operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 64 | ' | ' | 17 | 53 | 0 | 0 | 0 | 0 | 2 | 7 | 2 | 5 | ' | ' | ' | ' | ' | ' | 27 | 83 | ' | ' | 17 | 53 | 38 | 117 | 24 | 72 | 8 | 25 | 2 | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Increase (decrease) in energy marketing overhead expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | -6 | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6 | -18 | ' | ' | 1 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | ' | ' | ' | ' | ' | ' | |
Letters of credit issued and oustanding on behalf of entity by affiliate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 301 | 261 | 211 | 166 | 78 | 113 | ' | |
Term of Facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | |
Debt instrument, interest rate over variable rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' | |
Basis points added to interest under LIBOR rate loans (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | ' | ' | ' | ' | ' | ' | |
Current note receivable from affiliate | ' | ' | ' | ' | ' | 299 | 198 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Emission allowances purchased and utilized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Sale of NRG Marsh Landing Holdings LLC to NRG Yield LLC [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Payments to Acquire Businesses, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 199 | |
Sale of Marsh Landing, GenOn to Yield, acqusition-date net assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 168 | |
Sale of Marsh Landing, GenOn to Yield, GenOn APIC adjustment | 31 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other current and non-current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52 | |
Property, plant and equipment | ' | 3,270 | 3,919 | 1,258 | 1,267 | ' | ' | 1,097 | 1,110 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 666 | |
Total assets | ' | 5,962 | 7,461 | 3,086 | 3,387 | ' | ' | 2,118 | 2,281 | 5,962 | [1] | ' | ' | 3,086 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 718 |
Other current and non-current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50 | |
Long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | |
Total liabilities | ' | $5,566 | $7,104 | $2,237 | $2,462 | ' | ' | $808 | $892 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $550 | |
[1] | As a result of the sale of its ownership interests in NRG Marsh Landing Holdings LLC to NRG Yield LLC in July 2013, GenOn's total assets as of September 30, 2013 exclude the assets of NRG Marsh Landing, and operating results exclude the results of NRG Marsh Landing from its sale date on July 22. See Note 9, Related Party Transactions. |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | Feb. 29, 2008 | Feb. 28, 2013 | Jul. 31, 2011 | Jul. 31, 2013 | Apr. 30, 2012 | Dec. 31, 2008 | Oct. 31, 2012 | Sep. 30, 2010 | Apr. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2008 | Sep. 30, 2013 | Mar. 31, 2013 | Jan. 31, 2013 | Sep. 30, 2013 | Dec. 14, 2012 | Dec. 02, 2010 | Jun. 30, 2013 | Sep. 30, 2013 |
Global Warming | Pending Natural Gas Litigation | Pending Natural Gas Litigation | New Source Review Matters | Cheswick Class Action Complaint | Cheswick Monarch Mine NOV | Ormond Beach Alleged Federal Clean Water Act Violations | Maryland Fly Ash Facilities | Maryland Fly Ash Facilities | Maryland Fly Ash Facilities | Maryland Fly Ash Facilities | Maryland Fly Ash Facilities | Maryland Fly Ash Facilities | NRG Merger Litigation | MDE v. GenOn Chalk Point and GenOn Mid-Atlantic | MDE v. GenOn Chalk Point and GenOn Mid-Atlantic | Chapter Eleven Proceedings | Chapter Eleven Proceedings | Chapter Eleven Proceedings | Texas Franchise Audit | Texas Franchise Audit | |
Environmental Matters | Pending Litigation | Pending Litigation | Environmental Matters | Environmental Matters | Environmental Matters | Environmental Matters | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Mid-Atlantic | Pending Litigation | GenOn Mid-Atlantic | GenOn Mid-Atlantic | GenOn Americas Generation | GenOn Americas Generation | GenOn Americas Generation | Tax Matters | Tax Matters | |
company | lawsuit | lawsuit | Environmental Matters | Environmental Matters | Environmental Matters | Environmental Matters | Environmental Matters | Environmental Matters | lawsuit | Environmental Matters | Environmental Matters | Bankruptcy | Bankruptcy | Bankruptcy | |||||||
Groups | facility | facility | |||||||||||||||||||
Global Warming | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Other Companies Named in Lawsuit Filed | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Range of Possible Loss, Maximum | $400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pending Natural Gas Litigation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Lawsuits Filed | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' |
Number of Lawsuits Dismissed | ' | 1 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
New Source Review Matters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation Settlement, Amount | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cheswick Class Action Complaint | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Distance from Plant Class Action Plaintiffs Live Work | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cheswick Monarch Mine NOV | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Civil Penalties which May be Assessed | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' |
Ormond Beach Alleged Federal Clean Water Act Violations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Legal Fees | ' | ' | ' | ' | ' | ' | 79,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Environmental Projects | ' | ' | ' | ' | ' | ' | 65,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Monitoring Costs | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maryland Fly Ash Facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Fly Ash Facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Fly Ash Facilities with Threat of Non Renewal of Water Discharge Permits | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period to close and cap existing open disposal cells | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of intervening parties in the proceeding | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount accrued for alleged past violations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount accrued for alleged prospective violations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount accrued for estimated cost of proposed technical solution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purported class actions related to NRG Merger | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of consolidated court cases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' |
Maryland Department of the Environment v. GenOn Chalk Point and GenOn Mid-Atlantic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Permits That Regulate Polution Discharge Elimination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' |
Days to Comply | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' |
Chapter Eleven Proceedings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
GenOn Energy Holdings common stock shares reserved for unresolved claims | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 461,000 | ' | ' | ' | ' |
Number of reserved shares for disputed Chapter 11 claims converted into reserved of GenOn common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' |
Number of reserved shares for disputed Chapter 11 claims converted into reserved of NRG common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 159,000 | ' | ' | ' |
Texas Franchise Audit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Examination, Penalties and Interest Accrued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 72,000,000 |
Income Tax Examination, Interest Accrued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,000,000 |
Tax Adjustments, Settlements, and Unusual Provisions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,000,000 | ' |
Environmental_Matters_Details
Environmental Matters (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2008 | Sep. 30, 2013 | Dec. 31, 2008 |
GenOn Americas Generation | GenOn Mid-Atlantic | Environmental Matters | Environmental Matters | Environmental Matters | ||
Cheswick Monarch Mine NOV | Maryland Fly Ash Facilities | Maryland Fly Ash Facilities | ||||
GenOn Mid-Atlantic | GenOn Mid-Atlantic | |||||
facility | facility | |||||
Environmental Matters Disclosure | ' | ' | ' | ' | ' | ' |
Estimated environmental capital expenditures from 2013 through 2017 | $223,000,000 | $56,000,000 | $6,000,000 | ' | ' | ' |
Minimum Civil Penalties which May Be Assumed | ' | ' | ' | $200,000 | ' | ' |
Number of Fly Ash Facilities | ' | ' | ' | ' | 3 | 3 |