NextEra Energy Partners (NEP) 10-Q 29 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2016shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Registrant Name	NEXTERA ENERGY PARTNERS, LP
Entity Central Index Key	1,603,145
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	41,886,186

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
OPERATING REVENUES		$ 165	$ 108	[1]
OPERATING EXPENSES
Operations and maintenance		31	19	[1]
Operations and maintenance - related party		11	4	[1]
Depreciation and amortization		46	37	[1],[2]
Taxes other than income taxes and other		4	4	[1]
Total operating expenses		92	64	[1]
OPERATING INCOME		73	44	[1]
OTHER INCOME (DEDUCTIONS)
Interest expense		(86)	(25)	[1]
Benefits associated with differential membership interests - net		12	4	[1],[2]
Equity in losses of equity method investees		(13)	0	[1],[2]
Other - net		(3)	1	[1]
Total other deductions - net		(90)	(20)	[1]
INCOME (LOSS) BEFORE INCOME TAXES		(17)	24	[1]
INCOME TAX BENEFIT		(3)	(1)	[1]
NET INCOME (LOSS)	[3],[4]	(14)	25	[1],[2],[5]
Less net income (loss) attributable to noncontrolling interest(b)	[6]	(19)	23	[1]
NET INCOME ATTRIBUTABLE TO NEXTERA ENERGY PARTNERS, LP		$ 5	$ 2	[1]
Weighted average number of common units outstanding - basic and assuming dilution (in shares)		34.5	18.7	[1]
Earnings per common unit attributable to NextEra Energy Partners, LP - basic and assuming dilution (in dollars per share)		$ 0.14	$ 0.08	[1]
Distributions per common unit (in dollars per unit)		$ 0.3075	$ 0.195
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[2]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[3]	Net income (loss) attributable to noncontrolling interest includes the pre-acquisition net income of the common control acquisitions. See Note 1.
[4]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[5]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[6]	The calculation of net income (loss) attributable to noncontrolling interest includes the pre-acquisition net income (loss) of the common control acquisitions. See Note 1.

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	[4]
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	[1],[2]	$ (14)	$ 25	[3],[5]
Net unrealized gains (losses) on cash flow hedges:
Effective portion of net unrealized losses (net of income tax benefit of $0 and $2, respectively)		0	(8)
Reclassification from accumulated other comprehensive loss to net loss (net of income tax expense of less than $1 for both periods)		1	1
Net unrealized gains (losses) on foreign currency translation (net of income tax benefit (expense) of less than $(1) and $1, respectively)		6	(42)
Total other comprehensive income (loss), net of tax	[2]	7	(49)
COMPREHENSIVE LOSS		(7)	(24)
Less comprehensive loss attributable to noncontrolling interest	[6]	(13)	(23)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO NEXTERA ENERGY PARTNERS, LP		$ 6	$ (1)
[1]	Net income (loss) attributable to noncontrolling interest includes the pre-acquisition net income of the common control acquisitions. See Note 1.
[2]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[3]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[4]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[5]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[6]	The calculation of comprehensive loss attributable to noncontrolling interest includes the pre-acquisition comprehensive income of the common control acquisitions. See Note 1.

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	[1]
Statement of Comprehensive Income [Abstract]
Effective portion of net unrealized gains (losses), tax expense (benefit)	$ 0	$ (2)
Reclassification from accumulated other comprehensive income to net income, tax expense	1	1
Unrealized gains (losses) on foreign currency translation, tax benefit	$ (1)	$ 1
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2016	Dec. 31, 2015	[1]
Current assets:
Cash and cash equivalents		$ 133	$ 163
Accounts receivable		92	78
Due from related parties		87	70
Restricted cash		49	16
Prepaid expenses		4	6
Other current assets		15	18
Total current assets		380	351
Non-current assets:
Property, plant and equipment - net		4,707	4,653
Deferred income taxes		224	176
Investments in equity method investees		17	22
Intangible assets - customer relationships		691	696
Goodwill		628	622
Other non-current assets		53	54
Total non-current assets		6,320	6,223
TOTAL ASSETS		6,700	6,574
Current liabilities:
Accounts payable and accrued expenses		28	44
Short-term debt		12	12
Due to related parties		16	16
Current maturities of long-term debt		104	101
Acquisition holdbacks		187	0
Accrued interest		20	28
Derivatives		24	22
Other current liabilities		17	28
Total current liabilities		408	251
Non-current liabilities:
Long-term debt		3,429	3,334
Deferral related to differential membership interests		666	670
Acquisition holdbacks		191	375
Deferred income taxes		49	43
Asset retirement obligation		37	36
Non-current due to related party		20	19
Other non-current liabilities		121	82
Total non-current liabilities		4,513	4,559
TOTAL LIABILITIES		$ 4,921	$ 4,810
COMMITMENTS AND CONTINGENCIES
EQUITY
Limited partners (common units issued and outstanding - 41.9 and 30.6, respectively)		$ 1,280	$ 935
Accumulated other comprehensive loss		(5)	(6)
Noncontrolling interest		504	835
TOTAL EQUITY	[2]	1,779	1,764
TOTAL LIABILITIES AND EQUITY		$ 6,700	$ 6,574
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[2]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - shares	Mar. 31, 2016	Dec. 31, 2015	[1]
Statement of Financial Position [Abstract]
Common units outstanding	41,900,000	30,600,000
Common units issued	41,900,000	30,600,000
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016		Mar. 31, 2015	[5]
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	[1],[2]	$ (14)		$ 25	[3],[4]
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		46		37	[3]
Accretion of acquisition holdbacks		4		0
Unrealized losses on marked to market derivative contracts		47		0
Deferred income taxes		(5)		(3)
Benefits associated with differential membership interests - net		(12)		(4)	[3]
Equity in losses of equity method investees		13		0	[3]
Changes in operating assets and liabilities:
Accounts receivable		(12)		(6)
Prepaid expenses and other current assets		3		1
Accounts payable and accrued expenses		(2)		(1)
Due to related parties		0		6
Other current liabilities		(19)		(15)
Net cash provided by operating activities		49		40
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of membership interests in subsidiaries		(325)		(292)
Capital expenditures		(12)		(84)
Changes in restricted cash		(35)		57
Payments from (to) related parties under CSCS agreement - net		(17)		159
Net cash used in investing activities		(389)		(160)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common units - net		292		0
Issuances of long-term debt		116		122
Retirements of long-term debt		(65)		(40)
Deferred financing costs		0		(2)
Partners/Members' contributions		1		59
Partners/Members' distributions		(45)		(30)
Proceeds from differential membership investors		11		0
Payments to differential membership investors		(3)		(2)
Change in amounts due to related party		1		(22)
Net cash provided by financing activities		308		85
Effect of exchange rate changes on cash		2		(2)
NET DECREASE IN CASH AND CASH EQUIVALENTS		(30)		(37)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD		163	[6]	112
CASH AND CASH EQUIVALENTS - END OF PERIOD		133		75
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest, net of amounts capitalized		48		35
Partners/Members' noncash distributions		25		19
Members’ noncash contributions for construction costs and other		59		92
Change in investments in equity method investees - net		8		2
Change in accrued but not paid for capital expenditures		3		4
Noncash member distribution upon transition from predecessor method		3		0
Change in goodwill related to change in purchase accounting valuation		$ 6		$ 0
[1]	Net income (loss) attributable to noncontrolling interest includes the pre-acquisition net income of the common control acquisitions. See Note 1.
[2]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[3]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[4]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[5]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[6]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Millions		Total		Units [Member]	Limited Partners [Member]		Accumulated Other Comprehensive Loss [Member]		Noncontrolling Interest [Member]
Beginning balance, units at Dec. 31, 2014				18,700,000
Beginning balance at Dec. 31, 2014		$ 1,781	[1]		$ 551		$ (3)	[1]	$ 1,233	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of membership interests in subsidiaries	[1]	(292)							(292)
Limited partners/related party contribution and transition		5	[1]		5	[2]
Net income (loss)	[3]	25	[1],[4],[5],[6]		2				23	[1]
Other comprehensive income (loss)	[1]	(49)	[5]				(3)		(46)
Related party contributions	[1]	155							155
Related party distributions	[1]	(45)							(45)
Distributions to unitholders		(4)	[1]		(4)
Ending balance, units at Mar. 31, 2015				18,700,000
Ending balance at Mar. 31, 2015		$ 1,576	[1]		554		(6)	[1]	1,028	[1]
Beginning balance, units at Dec. 31, 2015		30,600,000	[7]	30,600,000
Beginning balance at Dec. 31, 2015		$ 1,764	[1],[7]		935		(6)	[1]	835	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of membership interests in subsidiaries	[1]	(325)							(325)
Limited partners/related party contribution and transition		54	[1]		57	[2]			(3)	[1],[8]
Issuance of common units, units				11,300,000
Issuance of common units		292	[1]		292
Related party note receivable	[1]	(25)							(25)
Net income (loss)	[3]	(14)	[1]		5				(19)	[1]
Other comprehensive income (loss)	[1]	7					1		6
Related party contributions	[1]	71							71
Related party distributions	[1]	(36)							(36)
Distributions to unitholders		$ (9)	[1]		(9)
Ending balance, units at Mar. 31, 2016		41,900,000		41,900,000
Ending balance at Mar. 31, 2016		$ 1,779	[1]		$ 1,280		$ (5)	[1]	$ 504	[1]
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[2]	Deferred tax asset recognized by NEP related to NEP equity issuances and acquisition of subsidiary membership interests.
[3]	Net income (loss) attributable to noncontrolling interest includes the pre-acquisition net income of the common control acquisitions. See Note 1.
[4]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[5]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[6]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[7]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[8]	Related party non-cash distribution, net, upon transition from predecessor accounting method.

Acquisitions Acquisitions

Acquisitions Acquisitions	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS On March 1, 2016, a subsidiary of NEP completed the acquisition from NEER of Seiling Wind Investments, LLC, which indirectly owns two wind generation facilities, Seiling I and Seiling II, with a combined generating capacity of approximately 299 MW, located in Dewey and Woodward counties, Oklahoma, for approximately $323 million , plus working capital of $3 million (subject to post-closing adjustments) and the assumption of $257 million in existing liabilities related to differential membership interests. As part of this acquisition and included in the cash consideration, a subsidiary of NEP acquired an approximately $25 million receivable from a subsidiary of NEER (related party note receivable) relating to operational performance issues at this facility. The related party note receivable is intended to compensate NEP for the operational performance issues and is supported in full by corrective actions or compensation expected from an equipment vendor under an undertaking the vendor has with NEER. The related party note receivable can be settled, in part or in whole, to the extent the operational performance issues are improved or resolved by the vendor by the end of 2016. This receivable bears interest at 7.1% per annum, is payable by NEER in equal semi-annual installments and matures in December 2035. The related party note receivable, interest and related payments are reflected in noncontrolling interest on the condensed consolidated financial statements. The 2016 acquisition discussed above and the acquisitions from NEER completed in 2015 (collectively, the common control acquisitions), were transfers of assets between entities under common control, which required them to be accounted for as if the transfers occurred since the inception of common control, with prior periods retrospectively adjusted to furnish comparative information. Accordingly, the accompanying condensed consolidated financial statements have been retrospectively adjusted to include the historical results and financial position of the common control acquisitions prior to their respective acquisition dates. On October 1, 2015, NEP acquired 100% of the membership interests in the Texas pipeline business, a developer, owner and operator of a portfolio of seven long-term contracted natural gas pipeline assets located in Texas. Under the acquisition method, the purchase price was allocated to the assets acquired and liabilities assumed on the acquisition date based on their estimated fair value. The valuation of the acquired net assets is subject to change as NEP obtains additional information for its estimates during the measurement period. During the three months ended March 31, 2016, NEP recorded adjustments to the purchase price allocation which increased goodwill by approximately $6 million , decreased property, plant and equipment - net by $4 million and increased noncontrolling interest by $2 million . The primary areas of the purchase price allocation that are not yet finalized relate to identifiable intangible assets and residual goodwill. Supplemental Pro forma Results of Operations NEP’s pro forma results of operations had the acquisition of the Texas pipeline business been completed on January 1, 2014 are as follows: Three Months Ended (millions) Pro forma results of operations: Pro forma revenues $ 126 Pro forma operating income $ 49 Pro forma net income $ 9 Pro forma net income attributable to NEP $ — The pro forma consolidated results of operations include adjustments to: • reflect the historical results of the Texas pipeline business beginning on January 1, 2014, excluding certain operations which were not acquired by NEP; • reflect the estimated depreciation and amortization expense based on the estimated fair value of property, plant and equipment - net and the intangible assets - customer relationships; • reflect additional interest expense related to financing transactions to fund the acquisition; and • reflect related income tax effects. The pro forma information is not necessarily indicative of the results of operations that would have occurred had the transaction been completed on January 1, 2014 or the future results of the consolidated operations.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For periods prior to the date a project is acquired by NEP (NEP acquisition date), income taxes are calculated on the predecessor method using the separate return method for each of the projects acquired from NEER which are structured as limited liability companies or corporations. Income taxes are not included for entities that are structured as flow through entities (partnerships) electing to be taxed as partnerships. For periods after the NEP acquisition date, income taxes are calculated on the successor method where taxes are calculated for NEP as a single taxpaying entity for U.S. federal and state income tax purposes. Because NEP OpCo is a limited partnership electing to be taxed as a partnership for U.S. federal and state income tax purposes, NEP only recognizes in income its applicable ownership share of U.S. income taxes related to both U.S. and Canadian projects, allocated to NEP OpCo. The Canadian subsidiaries are all Canadian taxpayers subject to Canadian income tax, and therefore, NEP recognizes in income all of the Canadian taxes. Consequently for periods after the NEP acquisition date, income taxes include NEP's applicable ownership share of U.S. taxes and 100% of Canadian taxes. Net income or loss attributable to noncontrolling interest includes no U.S. taxes and NEER's applicable ownership share of Canadian taxes. Net income attributable to NEP includes NEP's applicable ownership share of U.S. and Canadian taxes. The effective tax rates for the three months ended March 31, 2016 and 2015 were approximately 18% and (4)% , respectively. The effective tax rate is affected by recurring items, such as the relative amount of income earned in jurisdictions, valuation allowances on deferred tax assets, taxes attributable to the noncontrolling interest and the taxation of Canadian income in both Canada and the U.S.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The fair value of assets and liabilities are determined using either unadjusted quoted prices in active markets (Level 1) or pricing inputs that are observable (Level 2) whenever that information is available and using unobservable inputs (Level 3) to estimate fair value only when relevant observable inputs are not available. NEP uses several different valuation techniques to measure the fair value of assets and liabilities relying primarily on the market approach of using prices and other market information for identical or comparable assets and liabilities for those assets and liabilities that are measured at fair value on a recurring basis. Certain financial instruments may be valued using multiple inputs including discount rates, counterparty credit ratings and credit enhancements. NEP’s assessment of the significance of any particular input to the fair value measurement requires judgment and may affect the fair value measurement of its assets and liabilities and the placement of those assets and liabilities within the fair value hierarchy levels. Non-performance risk, including the consideration of a credit valuation adjustment, is also considered in the determination of fair value for all assets and liabilities measured at fair value. All transfers between fair value hierarchy levels occur at the beginning of the period in which the transfer occurred. Cash Equivalents and Restricted Cash Equivalents - Cash equivalents consist of short-term, highly liquid investments with original maturities of three months or less, and are included in cash and cash equivalents, restricted cash and other non-current assets on the condensed consolidated balance sheets. NEP primarily holds these investments in money market funds and estimates the fair value of these funds using a market approach based on current observable market prices. Interest Rate and Foreign Currency Contracts - NEP estimates the fair value of its derivatives using an income approach, or a discounted cash flows valuation technique, based on the net amount of estimated future cash inflows and outflows related to the agreements. The primary inputs used in the fair value measurements include the contractual terms of the derivative agreements, current interest rates, foreign currency exchange rates and credit spreads. The significant inputs for the resulting fair value measurement are market-observable inputs and the measurements are reported as Level 2 in the fair value hierarchy. NEP’s financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows: March 31, 2016 December 31, 2015 Level 1 Level 2 Total Level 1 Level 2 Total (millions) Assets: Cash equivalents $ 18 $ — $ 18 $ 63 $ — $ 63 Restricted cash equivalents 40 — 40 5 — 5 Interest rate contracts — — — — 2 2 Foreign currency contracts — — — — 2 2 Total assets $ 58 $ — $ 58 $ 68 $ 4 $ 72 Liabilities: Interest rate contracts $ — $ 110 $ 110 $ — $ 68 $ 68 Foreign currency contracts — 1 1 — — — Total liabilities $ — $ 111 $ 111 $ — $ 68 $ 68 Financial Instruments Recorded at Other than Fair Value - The carrying amounts of accounts receivable, accounts payable, certain accrued expenses and short-term debt approximate their fair values. The carrying amounts and estimated fair values of other financial instruments, excluding those recorded at fair value and disclosed above, are as follows: March 31, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value (millions) Long-term debt, including current maturities (a) $ 3,533 $ 3,684 $ 3,435 $ 3,532 ____________________ (a) Fair value is estimated based on the borrowing rates as of each date for similar issues of debt with similar remaining maturities (Level 2). Contingent Consideration - NEP recorded a liability related to a contingent holdback as part of the Texas pipelines acquisition. See Note 10 - Acquisition Holdbacks. The contingent holdback will be payable if the Texas pipelines enter into one or more written contracts by December 31, 2016 related to certain financial performance and capital expenditure thresholds. Contingent consideration is required to be reported at fair value at each reporting date. NEP determined this fair value measurement based on management's probability assessment. The significant inputs and assumptions used in the fair value measurement included the estimated probability of executing contracts related to financial performance and capital expenditure thresholds as well as the appropriate discount rate. At March 31, 2016 and December 31, 2015, the estimated fair value of the contingent holdback was approximately $187 million and $186 million , respectively, and is recorded as acquisition holdbacks on the condensed consolidated balance sheets. During the three months ended March 31, 2016 , the fair value of the contingent consideration increased by less than $1 million related to the accretion of the discount and is recorded in operations and maintenance in the condensed consolidated statements of income.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activity	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activity	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITY NEP recognizes all derivative instruments, when required to be marked to market, on the balance sheet as either assets or liabilities and measures them at fair value each reporting period. In connection with certain of its debt financings, NEP entered into interest rate contracts to manage interest rate cash flow risk. These agreements allow NEP to offset the variability of its floating-rate loan interest cash flows with the variable interest cash flows received from the interest rate contracts. In January 2016, NEP discontinued hedge accounting for its cash flow hedges related to interest rate swaps and, therefore, essentially all changes in the fair value of the interest rate swaps are recognized in interest expense in NEP's condensed consolidated statements of income. The commencement and termination dates of the interest rate swap agreements and the related hedging relationship coincide with the corresponding dates of the underlying variable-rate debt instruments, with maturity dates through 2033. As of March 31, 2016 and December 31, 2015 , the combined notional amounts of the interest rate contracts were approximately $1,292 million and $1,277 million , respectively. At March 31, 2016 , NEP's accumulated other comprehensive loss (AOCI) included amounts related to discontinued cash flow hedges which have expiration dates through 2033. Approximately $11 million of net losses included in AOCI at March 31, 2016 , is expected to be reclassified into interest expense within the next 12 months as principal and/or interest payments are made. Cash flows from these interest rate swap contracts are reported in cash flows from operating activities in NEP's condensed consolidated statements of cash flows. During 2015 and 2016, NEP entered into certain foreign currency exchange contracts to economically hedge its cash flows from foreign currency rate fluctuations. As of March 31, 2016 and December 31, 2015 , the notional amount of the foreign currency contracts was approximately $39 million and $54 million , respectively. During the three months ended March 31, 2016 and 2015, NEP recorded approximately $3 million of losses and less than $1 million of gains, respectively, related to the foreign currency contracts in other - net in the condensed consolidated statements of income. Fair Value of Derivative Instruments - The tables below present NEP's gross derivative positions at March 31, 2016 and December 31, 2015 , as required by disclosure rules, as well as the location of the net derivative position on the condensed consolidated balance sheets. March 31, 2016 Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis Total Derivatives Combined - Net Basis Assets Liabilities Assets Liabilities Assets Liabilities (millions) Interest rate contracts $ — $ — $ — $ 110 $ — $ 110 Foreign currency contracts — — — 1 — 1 Total fair values $ — $ — $ — $ 111 $ — $ 111 Net fair value by balance sheet line item: Other current assets $ — Other non-current assets — Current derivative liabilities $ 24 Other non-current liabilities 87 Total derivatives $ — $ 111 December 31, 2015 Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis Total Derivatives Combined - Net Basis Assets Liabilities Assets Liabilities Assets Liabilities (millions) Interest rate contracts $ 1 $ 22 $ 1 $ 46 $ 5 $ 71 Foreign currency contracts — — 2 — 2 — Total fair values $ 1 $ 22 $ 3 $ 46 $ 7 $ 71 Net fair value by balance sheet line item: Other current assets $ 2 Other non-current assets 5 Current derivative liabilities $ 22 Other non-current liabilities 49 Total derivatives $ 7 $ 71 Income Statement Impact of Derivative Instruments - Losses related to NEP's interest rate contracts are recorded in NEP's condensed consolidated financial statements as follows: Three Months Ended March 31, 2016 2015 (millions) Interest rate contracts: Losses recognized in other comprehensive loss $ — $ (10 ) Losses reclassified from AOCI to interest expense $ (1 ) $ (1 ) Losses recognized in interest expense $ (47 ) $ —

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	VARIABLE INTEREST ENTITIES In February 2015, the Financial Accounting Standards Board (FASB) issued a new accounting standard that modified the existing consolidation guidance. The standard made changes to both the variable interest entity model and the voting interest entity model, including modifying the evaluation of whether limited partnerships or similar legal entities are VIEs or voting interest entities and amending the guidance for assessing how relationships of related parties affect the consolidation analysis of VIEs. NEP adopted the standard retrospectively beginning January 1, 2016. As a result of the new standard, NEP has identified NEP OpCo as a VIE. NEP OpCo is a limited partnership with a general partner and limited partners. NEP has consolidated the results of NEP OpCo and its subsidiaries because of its controlling interest in the general partner of NEP OpCo. At March 31, 2016 , NEP owned an approximately 29.2% limited partner interest in NEP OpCo and NEE Equity owned a noncontrolling 70.8% limited partner interest in NEP OpCo. The assets and liabilities of NEP OpCo as well as the operations of NEP OpCo represent substantially all of NEP's assets and liabilities and its operations. In addition, at March 31, 2016 , NEP consolidated three VIEs related to certain subsidiaries which have sold their class B membership interests in entities which own and operate four wind electric generation facilities. Certain investors that hold no equity interest in these VIEs hold differential membership interests, which give them the right to receive a portion of the economic attributes of these wind electric generation facilities, including certain tax attributes. The assets and liabilities of the VIEs, consisting primarily of property, plant and equipment - net and deferral related to differential membership interests, totaled approximately $1,210 million and $715 million at March 31, 2016 , respectively, and $1,221 million and $723 million at December 31, 2015 , respectively. In April 2015, a subsidiary of NEP made an equity method investment in three NEER solar projects under construction in California. Through a series of transactions, a subsidiary of NEP issued 1,000,000 NEP OpCo Class B Units, Series 1 and 1,000,000 NEP OpCo Class B Units, Series 2, to NEER for approximately 50% of the ownership interests in the three solar projects. NEER, as holder of the Class B Units, will retain 100% of the economic rights in the projects to which the respective Class B Units relate, including the right to all distributions paid by the project subsidiaries that own the projects to NEP OpCo. NEER has agreed to indemnify NEP against all risks relating to NEP’s ownership of the projects and construction of the projects until NEER offers to sell economic interests to NEP and NEP accepts such offer, if NEP chooses to do so. NEER has also agreed to continue to manage the construction and operation of the projects at its own cost, and to contribute to the projects any capital necessary for the construction and operation of the projects, until NEER offers to sell economic interests to NEP and NEP accepts such offer. At March 31, 2016 and December 31, 2015 , NEP's equity method investment totaled approximately $17 million and $22 million , respectively, and is reflected as investments in equity method investees on the condensed consolidated balance sheets. All equity in earnings of the equity method investees is allocated to net income attributable to noncontrolling interest. NEP is not the primary beneficiary and therefore does not consolidate these entities because it does not control any of the ongoing activities of these entities, was not involved in the initial design of these entities and does not have a controlling interest in these entities. Summarized combined information for these equity method investees is as follows: Three Months Ended March 31, 2016 2015 (millions) Revenues $ 6 $ — Operating income $ 1 $ (1 ) Net loss $ (26 ) (a) $ (1 ) ____________________ (a) Includes approximately $24 million of unrealized losses related to interest rate derivative instruments as hedge accounting was discontinued in January 2016.

Capitalization Capitalization

Capitalization Capitalization	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Capitalization	CAPITALIZATION Debt - Significant long-term debt issuances and borrowings by subsidiaries of NEP during the three months ended March 31, 2016 were as follows: Date Issued Debt Issuances/Borrowings Interest Rate Principal Amount Maturity Date (millions) January - March 2016 Construction loan credit facility Variable (a) $ 41 (b) 2022 February 2016 Senior secured revolving credit facility Variable (a) $ 75 (c) 2019 ———————————— (a) Variable rate is based on an underlying index plus a margin. (b) In March 2016, the construction loan credit facility converted to a term loan. At March 31, 2016, approximately $532 million is outstanding under this term loan. (c) At March 31, 2016 , $75 million is outstanding under the revolving credit facility. The long-term debt agreements listed above are secured by liens on certain assets and contain provisions which, under certain conditions, could restrict the payment of distributions or related party fee payments. At March 31, 2016 , NEP's subsidiaries were in compliance with all financial debt covenants under their project financings; however, one project was unable to fully fund its debt reserve by approximately $2 million . Equity - During the three months ended March 31, 2016 , NEP issued 163,701 common units under the at-the-market equity issuance program (ATM program) for gross proceeds of approximately $5 million . Fees related to the ATM program totaled less than $1 million in 2016. In February and March 2016, NEP completed the sale of 11,155,000 common units representing limited partnership interests in NEP in a public offering for an aggregate purchase price of approximately $287 million , or $25.76 per common unit. NEP used the proceeds to fund, together with the borrowings under the senior secured revolving credit facility, the purchase price payable in the March 2016 acquisition discussed in Note 1. The issuance of additional common units during the three months ended March 31, 2016 resulted in the increase of NEP's limited partner interest in NEP OpCo to approximately 29.2% at March 31, 2016 . On April 28, 2016, NEP announced a distribution of $0.31875 per common unit payable on May 13, 2016 to its unitholders of record on May 6, 2016.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated Other Comprehensive Loss Net Unrealized Net Unrealized Total (millions) Three months ended March 31, 2016 Balances, December 31, 2015 $ (11 ) $ (108 ) $ (119 ) Other comprehensive income before reclassification — 6 6 Amounts reclassified from AOCI to interest expense 1 — 1 Net other comprehensive income 1 6 7 Balances, March 31, 2016 $ (10 ) $ (102 ) $ (112 ) AOCI attributable to noncontrolling interest $ (10 ) $ (97 ) $ (107 ) AOCI attributable to NEP, March 31, 2016 $ — $ (5 ) $ (5 ) Accumulated Other Comprehensive Loss Net Unrealized Net Unrealized Total (millions) Three months ended March 31, 2015 Balances, December 31, 2014 $ (4 ) $ (66 ) $ (70 ) Other comprehensive loss before reclassification (8 ) (42 ) (50 ) Amounts reclassified from AOCI to interest expense 1 — 1 Net other comprehensive loss (7 ) (42 ) (49 ) Balances, March 31, 2015 $ (11 ) $ (108 ) $ (119 ) AOCI attributable to noncontrolling interest $ (10 ) $ (103 ) $ (113 ) AOCI attributable to NEP, March 31, 2015 $ (1 ) $ (5 ) $ (6 )

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Each project entered into O&M agreements and ASAs with subsidiaries of NEER whereby the projects pay a certain annual fee plus actual costs incurred in connection with certain O&M and administrative services performed under these agreements. These services are reflected as operations and maintenance - related party in NEP's condensed consolidated statements of income. Additionally, a NEP subsidiary pays an affiliate for transmission services which are reflected as operations and maintenance - related party in NEP's condensed consolidated statements of income. At March 31, 2016 and December 31, 2015 , the net payables for these services, as well as for payroll and other payments made on behalf of these projects, were approximately $10 million and $8 million , respectively, and are included in due to related parties on NEP's condensed consolidated balance sheets. Certain projects have also entered into various types of agreements including those related to shared facilities and transmission lines, transmission line easements, technical support and construction coordination with subsidiaries of NEER whereby certain fees or cost reimbursements are paid to, or received by, certain subsidiaries of NEER. Management Services Agreement - Effective July 1, 2014, subsidiaries of NEP entered into a MSA with indirect wholly owned subsidiaries of NEE, under which operational, management and administrative services are provided to NEP, including managing NEP’s day to day affairs and providing individuals to act as NEP GP’s executive officers and directors, in addition to those services that are provided under the existing O&M agreements and ASAs described above between NEER subsidiaries and NEP subsidiaries. NEP OpCo will pay NEE an annual management fee equal to the greater of 1% of the sum of NEP OpCo’s net income plus interest expense, income tax expense and depreciation and amortization expense less certain non-cash, non-recurring items for the most recently ended fiscal year and $4 million (as adjusted for inflation beginning in 2016), which will be paid in quarterly installments of $1 million with an additional payment each January to the extent 1% of the sum of NEP OpCo’s net income plus interest expense, income tax expense and depreciation and amortization expense less certain non-cash, non-recurring items for the preceding fiscal year exceeds $4 million (as adjusted for inflation beginning in 2016). NEP OpCo will also make certain payments to NEE based on the achievement by NEP OpCo of certain target quarterly distribution levels to its unitholders. NEP’s operations and maintenance - related party for the three months ended March 31, 2016 and 2015 include approximately $7 million and $1 million , respectively, related to payments made under the MSA. Cash Sweep and Credit Support Agreement - Effective July 1, 2014, NEP OpCo entered into a CSCS agreement with NEER, under which NEER and certain of its subsidiaries may provide credit support in the form of letters of credit and guarantees to satisfy NEP’s subsidiaries’ contractual obligations. NEP OpCo will pay NEER an annual credit support fee based on the level and cost of the credit support provided, payable in quarterly installments. NEP’s operations and maintenance - related party for both the three months ended March 31, 2016 and 2015 include less than $1 million related to payments made under the CSCS agreement. NEER and certain of its subsidiaries may withdraw funds (Project Sweeps) received by NEP OpCo under the CSCS agreement, or its subsidiaries in connection with certain of the long-term debt agreements, and hold those funds in accounts belonging to NEER or its subsidiaries to the extent the funds are not required to pay project costs or otherwise required to be maintained by NEP's subsidiaries. NEER and its subsidiaries may keep the funds until the financing agreements permit distributions to be made, or, in the case of NEP OpCo, until such funds are required to make distributions or to pay expenses or other operating costs or NEP OpCo otherwise demands the return of such funds. If NEER fails to return withdrawn funds when required by NEP's subsidiaries’ financing agreements, the lenders will be entitled to draw on credit support provided by NEER in the amount of such withdrawn funds. If NEER or one of its affiliates realizes any earnings on the withdrawn funds prior to the return of such funds, it will be permitted to retain those earnings. The cash sweep amounts held in accounts belonging to NEER or its subsidiaries as of March 31, 2016 and December 31, 2015 were approximately $83 million and $66 million, respectively, and are included in due from related parties on NEP’s condensed consolidated balance sheets. Guarantees and Letters of Credit Entered into by Related Parties - Certain PPAs include requirements of the project entities to meet certain performance obligations. NEECH has provided letters of credit or guarantees for certain of these performance obligations and payment of any obligations from the transactions contemplated by the PPAs . In addition, certain of the financing agreements require cash and cash equivalents to be reserved for various purposes . In accordance with the terms of these financing agreements, guarantees from NEECH have been substituted in place of these cash and cash equivalents reserve requirements. In addition, certain interconnection agreements and site certificates require letters of credit or a bond to secure certain payment or restoration obligations related to those agreements. NEECH also guarantees the Project Sweep amounts held in accounts belonging to NEER as described above. As of March 31, 2016 , NEECH guaranteed or provided letters of credit or bonds totaling approximately $533 million related to these obligations. Agreements related to the sale of differential membership interests require NEER to guarantee payment of construction-related expenses that were not yet paid before the sale of the differential membership interests in VIEs as well as payments due by the VIEs and the indemnifications to the VIEs' respective investors. As of March 31, 2016 , NEER guaranteed a total of approximately $59 million related to these obligations. Due to Related Party - As of March 31, 2016 and December 31, 2015 , non-current due to related party on NEP's condensed consolidated balance sheets represents amounts due from certain of its wind projects to NEER to refund NEER for certain transmission costs paid on behalf of the wind projects. Amounts will be paid to NEER as the wind projects receive payments from third parties for related notes receivable recorded in other non-current assets on NEP’s condensed consolidated balance sheets. Development, Engineering and Construction Commitments - During the three months ended March 31, 2015 , NEER purchased and contributed approximately $24 million under several engineering, procurement and construction contracts related to the procurement of materials and services for certain NEP assets and for which costs were capitalized in construction work in progress. There were no such purchases or contributions during the three months ended March 31, 2016 . Transportation and Fuel Management Agreements - In connection with the acquisition of the Texas pipeline business described in Note 1, a subsidiary of NEP assigned to a subsidiary of NEER certain gas commodity agreements in exchange for entering into transportation agreements and a fuel management agreement whereby the benefits of the gas commodity agreements (net of transportation paid to the NEP subsidiary) are passed back to the NEP subsidiary. During the three months ended March 31, 2016 , NEP recognized approximately $4 million in revenues related to the transportation and fuel management agreements. At March 31, 2016 , approximately $1 million included in due from related parties reflects amounts due from the NEER subsidiary under the transportation and fuel management agreements.

Summary of Significant Accounti

Summary of Significant Accounting and Reporting Policies Summary of Significant Accounting and Reporting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting and Reporting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Leases - In February 2016, the FASB issued an accounting standard update which requires, among other things, that lessees recognize a lease liability, initially measured at the present value of the future lease payments; and a right-of-use asset, for all leases (with the exception of short-term leases). The standards update will be effective for NEP beginning January 1, 2019. Early adoption is permitted. Lessees and lessors must apply a modified retrospective approach for all leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. NEP is currently evaluating the effect the adoption of this standards update will have on its consolidated financial statements.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Land Use Commitments - The project owners are parties to various agreements that provide for payments to landowners for the right to use the land upon which the projects are located. These leases and easements can typically be renewed by the project owners for various periods. The annual fees range from minimum rent payments varying by lease to maximum rent payments of a certain percentage of gross revenues, varying by lease. Total lease expense was approximately $5 million and $4 million for the three months ended March 31, 2016 and 2015 , respectively, and is included in operations and maintenance expenses in NEP's condensed consolidated statements of income. One of NEP’s solar project's land leases includes a right-of-way lease/grant that provides for payments to the BLM for the right to use the public lands upon which the project is located. The lease may be renewed at expiration at the solar project's option and will be subject to the regulations existing at the time of renewal. In connection with the terms of this lease, the solar project obtained a surety bond from a non-affiliated party in favor of the BLM for approximately $23 million . The surety bond remains in effect until the BLM is satisfied that there is no outstanding liability on the bond or satisfactory replacement bond coverage is furnished. The related minimum and varying lease payments are based on fair value. Certain of these payments are considered contingent rent and, therefore, expense is recognized as incurred. The total minimum non-cancelable rental commitments at March 31, 2016 under these land use agreements are as follows: Land Use (millions) Remainder of 2016 $ 5 2017 8 2018 9 2019 9 2020 9 Thereafter 244 Total minimum land use payments $ 284 Letter of Credit Facilities - Two of NEP’s projects entered into letter of credit (LOC) facilities, under which the LOC lenders may issue standby letters of credit not to exceed approximately $143 million in the aggregate. These LOC facilities have maturity dates of August 2017 and March 2022. Approximately $118 million of LOCs are outstanding as of March 31, 2016 primarily related to debt service reserves and security for certain of the projects' agreements, including a PPA. Canadian FIT Contracts -The FIT contracts relating to NEP's wind projects located in Canada (Canadian projects) require suppliers to source a minimum percentage of their equipment and services from Ontario resident suppliers to meet the minimum required domestic content level (MRDCL). The MRDCL for two projects is 25% and the MRDCL for the other two projects is 50%. Following their respective CODs, the Canadian projects submitted reports to the Independent Electricity System Operator (IESO) summarizing how they achieved the MRDCL for their respective projects (domestic content reports) and the IESO issued letters to the Canadian projects acknowledging the completeness of their domestic content reports. The IESO has the right to audit the Canadian projects for a period of up to 7 years post-COD to confirm that they complied with the domestic content requirements under their respective FIT contracts and achieved their respective MRDCLs. The failure by any of these projects to achieve its MRDCL could result in a default by such project under its FIT contract, which default may not be possible to cure and could result in a termination of its FIT contract, without compensation, by the IESO. A termination of the FIT contract for any of these Canadian projects could negatively affect revenues generated by such project and have a material adverse effect on NEP's business, financial condition, results of operations and ability to make cash distributions to its unitholders. Acquisition Holdbacks - At March 31, 2016 and December 31, 2015 , NEP's condensed consolidated balance sheets include acquisition holdbacks related to certain contingent payments for the acquisition of the Texas pipeline business. The acquisition purchase price is subject to (i) a $200 million holdback payable, in whole or in part, upon satisfaction of financial performance and capital expenditure thresholds relating to planned expansion projects (contingent holdback) and (ii) a $200 million holdback retained to satisfy any indemnification obligations of the sellers through April 2017 (indemnity holdback). See Note 3 - Contingent Consideration for further discussion of the contingent holdback.

Summary of Significant Accoun19

Summary of Significant Accounting and Reporting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Recently Issued Accounting Guidance	SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Leases - In February 2016, the FASB issued an accounting standard update which requires, among other things, that lessees recognize a lease liability, initially measured at the present value of the future lease payments; and a right-of-use asset, for all leases (with the exception of short-term leases). The standards update will be effective for NEP beginning January 1, 2019. Early adoption is permitted. Lessees and lessors must apply a modified retrospective approach for all leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. NEP is currently evaluating the effect the adoption of this standards update will have on its consolidated financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Pro Forma Information	NEP’s pro forma results of operations had the acquisition of the Texas pipeline business been completed on January 1, 2014 are as follows: Three Months Ended (millions) Pro forma results of operations: Pro forma revenues $ 126 Pro forma operating income $ 49 Pro forma net income $ 9 Pro forma net income attributable to NEP $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities and other fair value measurements on a recurring basis	NEP’s financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows: March 31, 2016 December 31, 2015 Level 1 Level 2 Total Level 1 Level 2 Total (millions) Assets: Cash equivalents $ 18 $ — $ 18 $ 63 $ — $ 63 Restricted cash equivalents 40 — 40 5 — 5 Interest rate contracts — — — — 2 2 Foreign currency contracts — — — — 2 2 Total assets $ 58 $ — $ 58 $ 68 $ 4 $ 72 Liabilities: Interest rate contracts $ — $ 110 $ 110 $ — $ 68 $ 68 Foreign currency contracts — 1 1 — — — Total liabilities $ — $ 111 $ 111 $ — $ 68 $ 68
Schedule of other financial instrument, carrying amounts and estimated fair values	The carrying amounts and estimated fair values of other financial instruments, excluding those recorded at fair value and disclosed above, are as follows: March 31, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value (millions) Long-term debt, including current maturities (a) $ 3,533 $ 3,684 $ 3,435 $ 3,532 ____________________ (a) Fair value is estimated based on the borrowing rates as of each date for similar issues of debt with similar remaining maturities (Level 2).

Derivative Instruments and He22

Derivative Instruments and Hedging Activity (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the fair values of derivative instruments designated as cash flow hedging instruments included in balance sheets	Fair Value of Derivative Instruments - The tables below present NEP's gross derivative positions at March 31, 2016 and December 31, 2015 , as required by disclosure rules, as well as the location of the net derivative position on the condensed consolidated balance sheets. March 31, 2016 Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis Total Derivatives Combined - Net Basis Assets Liabilities Assets Liabilities Assets Liabilities (millions) Interest rate contracts $ — $ — $ — $ 110 $ — $ 110 Foreign currency contracts — — — 1 — 1 Total fair values $ — $ — $ — $ 111 $ — $ 111 Net fair value by balance sheet line item: Other current assets $ — Other non-current assets — Current derivative liabilities $ 24 Other non-current liabilities 87 Total derivatives $ — $ 111 December 31, 2015 Fair Values of Derivatives Designated as Hedging Instruments for Accounting Purposes - Gross Basis Fair Values of Derivatives Not Designated as Hedging Instruments for Accounting Purposes - Gross Basis Total Derivatives Combined - Net Basis Assets Liabilities Assets Liabilities Assets Liabilities (millions) Interest rate contracts $ 1 $ 22 $ 1 $ 46 $ 5 $ 71 Foreign currency contracts — — 2 — 2 — Total fair values $ 1 $ 22 $ 3 $ 46 $ 7 $ 71 Net fair value by balance sheet line item: Other current assets $ 2 Other non-current assets 5 Current derivative liabilities $ 22 Other non-current liabilities 49 Total derivatives $ 7 $ 71
Schedule of gains (losses) related to cash flow hedges	osses related to NEP's interest rate contracts are recorded in NEP's condensed consolidated financial statements as follows: Three Months Ended March 31, 2016 2015 (millions) Interest rate contracts: Losses recognized in other comprehensive loss $ — $ (10 ) Losses reclassified from AOCI to interest expense $ (1 ) $ (1 ) Losses recognized in interest expense $ (47 ) $ —

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Equity Method Investments	Summarized combined information for these equity method investees is as follows: Three Months Ended March 31, 2016 2015 (millions) Revenues $ 6 $ — Operating income $ 1 $ (1 ) Net loss $ (26 ) (a) $ (1 ) ____________________ (a) Includes approximately $24 million of unrealized losses related to interest rate derivative instruments as hedge accounting was discontinued in January 2016.

Capitalization (Tables)

Capitalization (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long Term Debt	Significant long-term debt issuances and borrowings by subsidiaries of NEP during the three months ended March 31, 2016 were as follows: Date Issued Debt Issuances/Borrowings Interest Rate Principal Amount Maturity Date (millions) January - March 2016 Construction loan credit facility Variable (a) $ 41 (b) 2022 February 2016 Senior secured revolving credit facility Variable (a) $ 75 (c) 2019 ———————————— (a) Variable rate is based on an underlying index plus a margin. (b) In March 2016, the construction loan credit facility converted to a term loan. At March 31, 2016, approximately $532 million is outstanding under this term loan. (c) At March 31, 2016 , $75 million is outstanding under the revolving credit facility.

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of accumulated other comprehensive income (loss)	Accumulated Other Comprehensive Loss Net Unrealized Net Unrealized Total (millions) Three months ended March 31, 2016 Balances, December 31, 2015 $ (11 ) $ (108 ) $ (119 ) Other comprehensive income before reclassification — 6 6 Amounts reclassified from AOCI to interest expense 1 — 1 Net other comprehensive income 1 6 7 Balances, March 31, 2016 $ (10 ) $ (102 ) $ (112 ) AOCI attributable to noncontrolling interest $ (10 ) $ (97 ) $ (107 ) AOCI attributable to NEP, March 31, 2016 $ — $ (5 ) $ (5 ) Accumulated Other Comprehensive Loss Net Unrealized Net Unrealized Total (millions) Three months ended March 31, 2015 Balances, December 31, 2014 $ (4 ) $ (66 ) $ (70 ) Other comprehensive loss before reclassification (8 ) (42 ) (50 ) Amounts reclassified from AOCI to interest expense 1 — 1 Net other comprehensive loss (7 ) (42 ) (49 ) Balances, March 31, 2015 $ (11 ) $ (108 ) $ (119 ) AOCI attributable to noncontrolling interest $ (10 ) $ (103 ) $ (113 ) AOCI attributable to NEP, March 31, 2015 $ (1 ) $ (5 ) $ (6 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Minimum rental commitments under land use agreements	The total minimum non-cancelable rental commitments at March 31, 2016 under these land use agreements are as follows: Land Use (millions) Remainder of 2016 $ 5 2017 8 2018 9 2019 9 2020 9 Thereafter 244 Total minimum land use payments $ 284

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Millions	Mar. 01, 2016USD ($)MW	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	[1]	Jul. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 628	$ 622
NET Holdings Management, LLC [Member]
Business Acquisition [Line Items]
Ownership interests percentage					100.00%
Dewey and Woodward counties, Oklahoma [Member] | Seiling I and Seiling II Wind Energy Centers [Member]
Business Acquisition [Line Items]
Renewable energy assets, power capacity (megawatts) | MW	299
Consideration transferred	$ 323
Working capital	3
Liabilities assumed in consideration transfer	257
Subsidiaries [Member] | Dewey and Woodward counties, Oklahoma [Member] | Seiling I and Seiling II Wind Energy Centers [Member]
Business Acquisition [Line Items]
Receivable acquired in consideration transfer	$ 25
Annual interest rate percentage for receivable	7.10%
Restatement Adjustment [Member] | NET Holdings Management, LLC [Member]
Business Acquisition [Line Items]
Goodwill		6
Decrease in property, plant and equipment		4
Increase in noncontrolling interest		$ 2
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.

Acquisitions - Pro Forma Inform

Acquisitions - Pro Forma Information (Details) - NET Holdings Management, LLC [Member] $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Business Acquisition [Line Items]
Pro forma revenues	$ 126
Pro forma operating income	49
Pro forma net income	9
Pro forma net income attributable to NEP	$ 0

Income Taxes - Additional Discl

Income Taxes - Additional Disclosures (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Effective tax rate	18.00%	(4.00%)

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Recurring Basis [Member] - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Assets:
Cash equivalents	$ 18,000,000	$ 63,000,000
Restricted cash equivalents	40,000,000	5,000,000
Interest rate contracts	0	2,000,000
Foreign currency contracts	0	2,000,000
Total assets	58,000,000	72,000,000
Liabilities:
Interest rate contracts	110,000,000	68,000,000
Foreign currency contracts	1,000,000	0
Total liabilities	111,000,000	68,000,000
Level 1 [Member]
Assets:
Cash equivalents	18,000,000	63,000,000
Restricted cash equivalents	40,000,000	5,000,000
Interest rate contracts	0	0
Foreign currency contracts	0	0
Total assets	58,000,000	68,000,000
Liabilities:
Interest rate contracts	0	0
Foreign currency contracts	0	0
Total liabilities	0	0
Level 2 [Member]
Assets:
Cash equivalents	0	0
Restricted cash equivalents	0	0
Interest rate contracts	0	2,000,000
Foreign currency contracts	0	2,000,000
Total assets	0	4,000,000
Liabilities:
Interest rate contracts	110,000,000	68,000,000
Foreign currency contracts	1,000,000	0
Total liabilities	$ 111,000,000	$ 68,000,000

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Value and Fair Value of Other Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current maturities	$ 3,533	$ 3,435
Level 2 [Member] | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current maturities	$ 3,684	$ 3,532

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - NET Holdings Management, LLC [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Contingent holdback	$ 187	$ 186
Increase in contingent consideration, less than	$ 1

Derivative Instruments and He33

Derivative Instruments and Hedging Activity - Additional Disclosures (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Interest Rate Swap [Member]
Derivative [Line Items]
Notional amount	$ 1,292		$ 1,277
Net losses included in AOCI expected to be reclassified into interest expense within the next 12 months	11
Foreign Currency Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	39		$ 54
Gains (losses) related to foreign currency contract	$ (3)	$ 1

Derivative Instruments and He34

Derivative Instruments and Hedging Activity - Fair Value of Derivative Instruments Included in Balance Sheets (Details) - Cash Flow Hedges [Member] - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	$ 0	$ 7
Fair value of derivative instruments, liabilities	111	71
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	2
Other Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	5
Other Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, liabilities	87	49
Current Derivative Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, liabilities	24	22
Interest Rate Contract [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	5
Fair value of derivative instruments, liabilities	110	71
Foreign Currency Contract [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	2
Fair value of derivative instruments, liabilities	1	0
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	1
Fair value of derivative instruments, liabilities	0	22
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	1
Fair value of derivative instruments, liabilities	0	22
Designated as Hedging Instrument [Member] | Foreign Currency Contract [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	0
Fair value of derivative instruments, liabilities	0	0
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	3
Fair value of derivative instruments, liabilities	111	46
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	1
Fair value of derivative instruments, liabilities	110	46
Not Designated as Hedging Instrument [Member] | Foreign Currency Contract [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative instruments, assets	0	2
Fair value of derivative instruments, liabilities	$ 1	$ 0

Derivative Instruments and He35

Derivative Instruments and Hedging Activity - Gains (Losses) Related to Cash Flow Hedges (Details) - Interest Rate Contract [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Losses recognized in other comprehensive loss	$ 0	$ (10)
Losses reclassified from AOCI to interest expense	(1)	(1)
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Losses recognized in interest expense	$ (47)	$ 0

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Millions	Apr. 30, 2015equity_investmentshares	Mar. 31, 2016USD ($)variable_interest_entity	Dec. 31, 2015USD ($)
Variable Interest Entity [Line Items]
Number of entities consolidated | variable_interest_entity		3
Property, plant and equipment - net		$ 4,707	$ 4,653	[1]
Deferral related to differential membership interests		666	670	[1]
Investments in equity method investees		$ 17	22	[1]
NEP OpCo [Member]
Variable Interest Entity [Line Items]
Limited partner interest percentage		29.20%
Noncontrolling limited partner interest percentage		70.80%
NextEra Energy Operating Partners, LP [Member]
Variable Interest Entity [Line Items]
Ownership interests percentage	50.00%
Class B Units, Series 1 [Member] | NextEra Energy Partners, LP [Member] | NextEra Energy Operating Partners, LP [Member]
Variable Interest Entity [Line Items]
Number of units issued (in units) | shares	1,000,000
Class B Units, Series 2 [Member] | NextEra Energy Partners, LP [Member] | NextEra Energy Operating Partners, LP [Member]
Variable Interest Entity [Line Items]
Number of units issued (in units) | shares	1,000,000
Palo Duro WInd Project Holdings, LLC [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Property, plant and equipment - net		$ 1,210	1,221
Deferral related to differential membership interests		$ 715	$ 723
Adelanto I, Adelanto II and McCoy [Member] | Subsidiaries [Member]
Variable Interest Entity [Line Items]
Number of investments | equity_investment	3
Econominc rights percentage	100.00%
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.

Variable Interest Entities - Eq

Variable Interest Entities - Equity Method Investees (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenues	$ 6	$ 0
Operating income	1	(1)
Net loss	$ (26)	$ (1)

Capitalization (Details)

Capitalization (Details) - Revolving Credit Facility [Member]	Mar. 31, 2016USD ($)
Construction Loan Credit Facility Due 2022 [Member]
Line of Credit Facility [Line Items]
Principal Amount	$ 41,000,000
Amount outstanding under line of credit	532,000,000
Senior Secured Revolving Credit Facility Due 2019 [Member]
Line of Credit Facility [Line Items]
Principal Amount	75,000,000
Amount outstanding under line of credit	$ 75,000,000

Capitalization - Additional Inf

Capitalization - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		Apr. 28, 2016	Mar. 31, 2016	Mar. 31, 2016
Schedule of Capitalization, Long-term Debt [Line Items]
Debt reserve, underfunded amount				$ 2
Issuance of common units	[1]			$ 292
Number of units sold			11,155,000
Proceeds from sale of units			$ 287
Subsequent Event [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Distribution per common unit payable		$ 0.31875
ATM Program [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Issuance of common units, units				163,701
Issuance of common units				$ 5
Stock issuance costs				$ 1
Public Offering [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Price per common unit			$ 25.76	$ 25.76
NEP OpCo [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Limited partner interest percentage			29.20%	29.20%
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.

Accumulated Other Comprehensi40

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015		Dec. 31, 2015	[3]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period		$ (119)	$ (70)
Other comprehensive loss before reclassification		6	(50)
Amounts reclassified from AOCI to interest expense		1	1
Net other comprehensive loss	[1]	7	(49)	[2]
Balance, end of period		(112)	(119)
AOCI attributable to noncontrolling interest		(107)	(113)
AOCI attributable to NextEra Energy Partners		(5)	(6)		$ (6)
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period		(11)	(4)
Other comprehensive loss before reclassification		0	(8)
Amounts reclassified from AOCI to interest expense		1	1
Net other comprehensive loss		1	(7)
Balance, end of period		(10)	(11)
AOCI attributable to noncontrolling interest		(10)	(10)
AOCI attributable to NextEra Energy Partners		0	(1)
Net Unrealized Gains (Losses) on Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning of period		(108)	(66)
Other comprehensive loss before reclassification		6	(42)
Amounts reclassified from AOCI to interest expense		0	0
Net other comprehensive loss		6	(42)
Balance, end of period		(102)	(108)
AOCI attributable to noncontrolling interest		(97)	(103)
AOCI attributable to NextEra Energy Partners		$ (5)	$ (5)
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[2]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.
[3]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Due from related parties	$ 87,000,000		$ 70,000,000	[1]
Transportation and Fuel Management Agreement [Member]
Related Party Transaction [Line Items]
Revenue from related parties	4,000,000
Subsidiaries of NEER [Member] | Operations, Maintenance,and Administrative Services, as well as Payroll and Other Payments [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	10,000,000		8,000,000
Subsidiaries of NEER [Member] | Transportation and Fuel Management Agreement [Member]
Related Party Transaction [Line Items]
Due from related parties	1,000,000
NextEra Energy, Inc. [Member] | Management Services Agreement [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	7,000,000	$ 1,000,000
NEER [Member] | Cash Sweep and Credit Support Agreement [Member]
Related Party Transaction [Line Items]
Interest expense	1,000,000	1,000,000
Due from related parties	$ 83,000,000		$ 66,000,000
NEP OpCo [Member] | NextEra Energy, Inc. [Member] | Management Services Agreement [Member]
Related Party Transaction [Line Items]
Management fee, percent of EBITDA	1.00%
Annual management fee	$ 4,000,000
Annual management fee, quarterly installments	1,000,000
Management fee, additional payment threshold, minimum EBITDA	4,000,000
NextEra Energy Capital Holdings [Member] | Guarantees and Letters of Credit [Member]
Related Party Transaction [Line Items]
Total amount of letters of credit	533,000,000
NEER [Member] | Guarantees [Member]
Related Party Transaction [Line Items]
Related party obligations	59,000,000
NEER [Member] | Engineering, Procurement, and Construction Contracts [Member]
Related Party Transaction [Line Items]
Related party transaction	$ 0	$ 24,000,000
[1]	Prior-period financial information has been retrospectively adjusted as discussed in Note 1.

Commitments and Contingencies -

Commitments and Contingencies - Commitments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Oct. 01, 2015
Operating Leased Assets [Line Items]
Lease expense	$ 5	$ 4
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2016	5
2,017	8
2,018	9
2,019	9
2,020	9
Thereafter	244
Total minimum land use payments	284
NET Holdings Management, LLC [Member]
Operating Leased Assets [Line Items]
Contingent holdback	187		$ 186
Genesis [Member] | Surety Bond [Member]
Operating Leased Assets [Line Items]
Surety bond	$ 23
Subsidiaries [Member] | NET Holdings Management, LLC [Member]
Operating Leased Assets [Line Items]
Contingent holdback				$ 200

Commitments and Contingencies43

Commitments and Contingencies - Letters of Credit (Details) - Genesis [Member] - Standby Letters of Credit [Member] $ in Millions	Mar. 31, 2016USD ($)
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 143
Credit facility, amount outstanding	$ 118