NextEra Energy Partners (NEP) 10-Q 2 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2022 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-36518
Entity Registrant Name	NEXTERA ENERGY PARTNERS, LP
Entity Tax Identification Number	30-0818558
Entity Address, Address Line One	700 Universe Boulevard
Entity Address, City or Town	Juno Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33408
City Area Code	561
Local Phone Number	694-4000
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common units
Trading Symbol	NEP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	86,535,284
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001603145
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
OPERATING REVENUES
Renewable energy sales		$ 236	$ 193	$ 762	$ 543
Texas pipelines service revenues		66	59	183	208
Total operating revenues(a)	[1]	302	252	945	751
OPERATING EXPENSES
Operations and maintenance(b)	[2]	153	110	417	302
Depreciation and amortization		107	71	315	207
Taxes other than income taxes and other		1	7	32	26
Total operating expenses – net		261	188	764	535
GAINS (LOSSES) ON DISPOSAL OF BUSINESSES/ASSETS – NET		8	0	35	(4)
OPERATING INCOME		49	64	216	212
OTHER INCOME (DEDUCTIONS)
Interest expense		155	(24)	853	145
Equity in earnings of equity method investees		52	47	154	131
Equity in earnings of non-economic ownership interests		20	12	56	26
Other – net		1	1	2	3
Total other income – net		228	36	1,065	305
INCOME BEFORE INCOME TAXES		277	100	1,281	517
INCOME TAXES		45	6	178	54
NET INCOME	[3]	232	94	1,103	463
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS		(153)	(76)	(660)	(317)
NET INCOME ATTRIBUTABLE TO NEXTERA ENERGY PARTNERS, LP		$ 79	$ 18	$ 443	$ 146
Earnings (loss) per common unit attributable to NextEra Energy Partners, LP - basic (in dollars per share)		$ 0.93	$ 0.24	$ 5.25	$ 1.92
Earnings (loss) per common unit attributable to NextEra Energy Partners, LP - assuming dilution (in dollars per share)		$ 0.93	$ 0.24	$ 5.25	$ 1.92
[1]Includes related party revenues of $9 million and $5 million for the three months ended September 30, 2022 and 2021, respectively, and $21 million and $44 million for the nine months ended September 30, 2022 and 2021, respectively.[2]Includes O&M expenses related to renewable energy projects of $91 million and $52 million for the three months ended September 30, 2022 and 2021, respectively, and $247 million and $144 million for the nine months ended September 30, 2022 and 2021, respectively. Includes O&M expenses related to the Texas pipelines of $14 million and $11 million for the three months ended September 30, 2022 and 2021, respectively, and $34 million and $35 million for the nine months ended September 30, 2022 and 2021, respectively. Total O&M expenses presented include related party amounts of $70 million and $52 million for the three months ended September 30, 2022 and 2021, respectively, and $195 million and $151 million for the nine months ended September 30, 2022 and 2021, respectively.[3]For the three and nine months ended September 30, 2022, NEP recognized less than $1 million and $1 million, respectively, of other comprehensive income related to equity method investees, which was primarily attributable to noncontrolling interests. For the nine months ended September 30, 2021, NEP recognized $1 million of other comprehensive income related to equity method investees, which was primarily attributable to noncontrolling interests.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Related party revenues	$ 9	$ 5	$ 21	$ 44
Operations and maintenance related to renewable energy projects	91	52	247	144
Operations and maintenance related to Texas pipelines	14	11	34	35
Operations and maintenance related party	70	$ 52	195	151
Other comprehensive income, equity method investments	$ 1		$ 1	$ 1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 225	$ 147
Accounts receivable	127	112
Other receivables	41	24
Due from related parties	217	1,061
Inventory	46	41
Derivatives	55	0
Other	88	25
Total current assets	799	1,410
Other assets:
Property, plant and equipment – net	11,443	11,417
Derivatives	330	7
Goodwill	891	891
Investments in equity method investees	1,928	1,896
Deferred income taxes	187	322
Other	298	265
Total other assets	17,668	17,566
TOTAL ASSETS	18,467	18,976
Current liabilities:
Accounts payable and accrued expenses	179	982
Due to related parties	80	104
Current portion of long-term debt	37	33
Accrued interest	17	26
Derivatives	11	26
Accrued property taxes	34	25
Other	61	65
Total current liabilities	419	1,261
Other liabilities and deferred credits:
Long-term debt	4,774	5,294
Asset retirement obligations	269	243
Derivatives	3	595
Due to related parties	39	41
Other	374	383
Total other liabilities and deferred credits	5,459	6,556
TOTAL LIABILITIES	5,878	7,817
COMMITMENTS AND CONTINGENCIES
REDEEMABLE NONCONTROLLING INTERESTS	26	321
EQUITY
Common units (86.5 and 83.9 units issued and outstanding, respectively)	3,420	2,985
Accumulated other comprehensive loss	(8)	(8)
Noncontrolling interests	9,151	7,861
TOTAL EQUITY	12,563	10,838
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY	18,467	18,976
Intangible assets – PPAs - net
Other assets:
Intangible assets	2,061	2,175
Customer Relationships
Other assets:
Intangible assets	$ 530	$ 593

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common units issued (in shares)	86,500,000	83,900,000
Common units outstanding (in shares)	86,500,000	83,900,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	[1]	$ 1,103	$ 463
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		315	207
Intangible amortization – PPAs		109	82
Change in value of derivative contracts		(986)	(250)
Deferred income taxes		177	51
Equity in earnings of equity method investees, net of distributions received		(20)	(2)
Equity in earnings of non-economic ownership interests, net of distributions received		(52)	(19)
Losses (gains) on disposal of businesses/assets – net		(35)	4
Other – net		2	9
Changes in operating assets and liabilities:
Current assets		(37)	(33)
Noncurrent assets		0	(7)
Current liabilities		35	(10)
Noncurrent liabilities		0	(3)
Net cash provided by operating activities		611	492
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of membership interests in subsidiaries – net		(190)	(800)
Capital expenditures and other investments		(958)	(82)
Proceeds from CITCs		0	75
Proceeds from sale of a business		204	0
Payments to related parties under CSCS agreement – net		(8)	(295)
Distributions from equity method investee		15	1
Reimbursements from related parties for capital expenditures		895	10
Other		4	22
Net cash used in investing activities		(38)	(1,069)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common units – net		147	50
Issuances of long-term debt		92	624
Retirements of long-term debt		(616)	(98)
Debt issuance costs		(5)	(3)
Capped call transaction		0	(31)
Partner contributions		1	0
Partner distributions		(468)	(387)
Proceeds on sale of differential membership interests		0	48
Proceeds from differential membership investors		136	74
Payments to differential membership investors		(30)	(27)
Proceeds on sale of Class B noncontrolling interests – net		408	493
Payments to Class B noncontrolling interest investors		(144)	(63)
Change in amounts due to related parties		(17)	(12)
Payment of CITC obligation to third party		0	(65)
Other		(3)	(1)
Net cash provided by (used in) financing activities		(499)	602
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		74	25
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – BEGINNING OF PERIOD		151	112
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – END OF PERIOD		225	137
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Change in noncash investments in equity method investees – net		(1)	130
Accrued property additions		$ 175	$ 5
[1]For the three and nine months ended September 30, 2022, NEP recognized less than $1 million and $1 million, respectively, of other comprehensive income related to equity method investees, which was primarily attributable to noncontrolling interests. For the nine months ended September 30, 2021, NEP recognized $1 million of other comprehensive income related to equity method investees, which was primarily attributable to noncontrolling interests.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Millions		Total	Cumulative Effect, Period of Adoption, Adjustment	[1]	Common Units, Units	Common Units, Amount	Common Units, Amount Cumulative Effect, Period of Adoption, Adjustment	[1]	Accumulated Other Comprehensive Loss	Noncontrolling Interests	Noncontrolling Interests Cumulative Effect, Period of Adoption, Adjustment	[1]	Redeemable Non-controlling Interests
Beginning balance, units at Dec. 31, 2020					75,900,000
Beginning balance at Dec. 31, 2020		$ 7,707	$ (56)			$ 2,362	$ (57)		$ (8)	$ 5,353	$ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common units (in shares)	[2]				700,000
Issuance of common units	[2]	56				56
Net income		463				146				317
Other comprehensive income		1							0	1
Related party note receivable		1								1
Related party distributions		(243)								(243)
Changes in non-economic ownership interests		130								130
Other differential membership investment activity		47								47
Payments to Class B noncontrolling interest investors		(63)								(63)
Distributions to unitholders	[3]	(146)				(146)
Sale of Class B noncontrolling interest – net		(493)								(493)
Sale of differential membership interest		48								48
Capped call transaction		(31)				(31)				0
Other		(2)				(1)				(1)
Ending balance, units at Sep. 30, 2021					76,600,000
Ending balance at Sep. 30, 2021		8,405				2,329			(8)	6,084
Beginning balance, units at Jun. 30, 2021					76,600,000
Beginning balance at Jun. 30, 2021		8,455				2,363			(8)	6,100
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		94				18				76
Related party distributions		(94)								(94)
Changes in non-economic ownership interests		6								6
Other differential membership investment activity		24								24
Payments to Class B noncontrolling interest investors		(28)								(28)
Distributions to unitholders	[4]	(51)				(51)
Other		(1)				(1)				0
Ending balance, units at Sep. 30, 2021					76,600,000
Ending balance at Sep. 30, 2021		$ 8,405				2,329			(8)	6,084
Beginning balance, units at Dec. 31, 2021		83,900,000			83,900,000
Beginning balance at Dec. 31, 2021		$ 10,838				2,985			(8)	7,861			$ 321
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common units (in shares)	[5],[6]				2,600,000
Issuance of common units	[5],[6]	179				179
Acquisition of subsidiaries with differential membership interests and noncontrolling ownership interest		242								242
Net income		1,094				443				651			9
Other comprehensive income		1								1
Related party note receivable		1								1
Related party distributions		(282)								(282)
Changes in non-economic ownership interests		1								1
Other differential membership investment activity		410								410			(304)
Payments to Class B noncontrolling interest investors		(144)								(144)
Distributions to unitholders	[7]	(186)				(186)
Sale of Class B noncontrolling interest – net		(407)				1				(408)
Other		$ 2								2
Ending balance, units at Sep. 30, 2022		86,500,000			86,500,000
Ending balance at Sep. 30, 2022		$ 12,563				3,420			(8)	9,151			26
Beginning balance, units at Jun. 30, 2022					83,900,000
Beginning balance at Jun. 30, 2022		11,959				3,228			(8)	8,739			117
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common units (in shares)	[8],[9]				2,600,000
Issuance of common units	[8],[9]	179				179
Acquisition of subsidiaries with differential membership interests and noncontrolling ownership interest		242								242
Net income		230				79				151			2
Related party distributions		(115)								(115)
Other differential membership investment activity		175								175			(93)
Payments to Class B noncontrolling interest investors		(41)								(41)
Distributions to unitholders	[10]	(65)				(65)
Sale of Class B noncontrolling interest – net		$ (1)				(1)				0
Ending balance, units at Sep. 30, 2022		86,500,000			86,500,000
Ending balance at Sep. 30, 2022		$ 12,563				$ 3,420			$ (8)	$ 9,151			$ 26
[1]See Note 7 for further discussion. Includes deferred tax impact of approximately $7 million.[2]See Note 8 – ATM Program for further discussion. Includes deferred tax impact of approximately $6 million.[3]Distributions per common unit of $1.9150 were paid during the nine months ended September 30, 2021.[4]Distributions per common unit of $0.6625 were paid during the three months ended September 30, 2021.[5]Includes NEE Equity's exchange of NEP OpCo common units for NEP common units. Includes deferred tax impact of approximately $14 million. See Note 8 - Common Unit Issuances.[6]See Note 8 – ATM Program for further discussion. Includes deferred tax impact of approximately $18 million.[7]Distributions per common unit of $2.2025 were paid during the nine months ended September 30, 2022.[8]Includes NEE Equity's exchange of NEP OpCo common units for NEP common units. Includes deferred tax impact of approximately $14 million. See Note 8 - Common Unit Issuances.[9]See Note 8 – ATM Program for further discussion. Includes deferred tax impact of approximately $18 million.[10]Distributions per common unit of $0.7625 were paid during the three months ended September 30, 2022

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
ATM Program
Deferred tax impact		$ 6		$ 6
Deferred tax asset	$ 18		$ 18
Cumulative Effect, Period of Adoption, Adjustment
Deferred tax impact		$ 7		$ 7
Common Stock
Deferred tax impact	$ 14		$ 14
Distributions per common unit (usd per share)	$ 0.7625	$ 0.6625	$ 2.2025	$ 1.9150

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Acquisitions	Acquisitions In August 2021, an indirect subsidiary of NEP acquired from a third party 100% of the ownership interests (August 2021 acquisition) in a portfolio of four operating wind assets with a combined generating capacity totaling approximately 391 MW located in California and New Hampshire. In October 2021, an indirect subsidiary of NEP acquired from subsidiaries of NEER ownership interests (October 2021 acquisition) in a portfolio of wind and solar generation facilities with a combined net generating capacity totaling approximately 589 MW located in various states across the U.S. In December 2021, an indirect subsidiary of NEP acquired from subsidiaries of NEER 100% of the Class A membership interests in Star Moon Holdings, LLC (Star Moon Holdings) which represents an indirect 50% controlling ownership interest in seven wind generation facilities and six solar generation facilities located in various states across the U.S., some of which include solar storage, with a combined net generating capacity totaling approximately 1,260 MW and net storage capacity totaling 58 MW. The wind and solar generation facilities were under construction by NEER when the acquisition was announced. At closing, three projects remained under construction and NEER agreed to continue to manage the construction of such projects after the acquisition, at its own cost, and to contribute to those projects any capital necessary for the construction of such projects. During the three months ended March 31, 2022, construction of the projects was completed and the projects entered service. In December 2021, NEER sold the remaining 50% noncontrolling ownership interest in the wind and solar generation facilities to a third party, which is reflected as noncontrolling interests on NEP's condensed consolidated balance sheets (see Note 10 - Noncontrolling Interests). NEER operates the wind and solar generation facilities under O&M and administrative service agreements (see Note 9). In December 2021, an indirect subsidiary of NEP acquired from a third party a 102 MW wind generation facility (Coram II acquisition) located in California. In September 2022, an indirect subsidiary of NEP acquired from NEER interests in Sunlight Renewables Holdings, LLC (Sunlight Renewables Holdings) which represent an indirect 67% controlling ownership interest in a battery storage facility in California with storage capacity of 230 MW. The purchase price consisted of cash consideration of approximately $191 million, plus working capital and other adjustments of $3 million. The purchase price was allocated primarily to property, plant and equipment — net of approximately $435 million and noncontrolling interests of $242 million, including $147 million relating to differential membership interests, based on the fair value of assets acquired and liabilities assumed. NEER operates the battery storage facility under O&M and administrative service agreements (see Note 9). Supplemental Unaudited Pro forma Results of Operations NEP’s pro forma results of operations in the combined entity had the August 2021 acquisition, the October 2021 acquisition and the Coram II acquisition been completed on January 1, 2020 are as follows: Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 (millions) Unaudited pro forma results of operations: Pro forma revenues $ 276 $ 830 Pro forma operating income $ 69 $ 223 Pro forma net income $ 91 $ 451 Pro forma net income attributable to NEP $ 21 $ 153 The unaudited pro forma consolidated results of operations include adjustments to: • reflect the historical results of the businesses acquired beginning on January 1, 2020 assuming consistent operating performance over all periods; • reflect the estimated depreciation and amortization expense based on the estimated fair value of property, plant and equipment – net and the intangible assets – PPAs; • reflect assumed interest expense related to funding the acquisitions; and • reflect related income tax effects. The unaudited pro forma information is not necessarily indicative of the results of operations that would have occurred had the transactions been made at the beginning of the periods presented or the future results of the consolidated operations. NEP incurred approximately $2 million in acquisition-related costs during the nine months ended September 30, 2022 which are reflected as operations and maintenance in NEP's condensed consolidated statements of income.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue is recognized when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. NEP's operating revenues are generated primarily from various non-affiliated parties under PPAs and natural gas transportation agreements. NEP's operating revenues from contracts with customers are partly offset by the net amortization of intangible asset – PPAs and intangible liabilities – PPAs. Revenue is recognized as energy and any related renewable energy attributes are delivered, based on rates stipulated in the respective PPAs, or natural gas transportation services are performed. NEP believes that the obligation to deliver energy and provide the natural gas transportation services is satisfied over time as the customer simultaneously receives and consumes benefits provided by NEP. In addition, NEP believes that the obligation to deliver renewable energy attributes is satisfied at multiple points in time, with the control of the renewable energy attribute being transferred at the same time the related energy is delivered. Included in NEP’s operating revenues for the three months ended September 30, 2022 is $232 million and $64 million, for the nine months ended September 30, 2022 is $747 million and $181 million, for the three months ended September 30, 2021 is $190 million and $58 million, and for the nine months ended September 30, 2021 is $530 million and $176 million, of revenue from contracts with customers for renewable energy sales and natural gas transportation services, respectively. NEP's accounts receivable are primarily associated with revenues earned from contracts with customers. Receivables represent unconditional rights to consideration and reflect the differences in timing of revenue recognition and cash collections. For substantially all of NEP's receivables, regardless of the type of revenue transaction from which the receivable originated, customer and counterparty credit risk is managed in the same manner and the terms and conditions of payment are similar. NEP recognizes revenues as energy and any related renewable energy attributes are delivered or natural gas transportation services are performed, consistent with the amounts billed to customers based on rates stipulated in the respective agreements. NEP considers the amount billed to represent the value of energy delivered or services provided to the customer. NEP’s customers typically receive bills monthly with payment due within 30 days. The contracts with customers related to pipeline service revenues contain a fixed price related to firm natural gas transportation capacity with maturity dates ranging from 2022 to 2035. At September 30, 2022, NEP expects to record approximately $1.6 billion of revenues over the remaining terms of the related contracts as the capacity is provided. Revenues yet to be earned under contracts with customers to deliver energy and any related energy attributes, which have maturity dates ranging from 2025 to 2052, will vary based on the volume of energy delivered. At September 30, 2022, NEP expects to record approximately $183 million of revenues related to the fixed price components of one PPA through 2039 as the energy is delivered.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income taxes are calculated for NEP as a single taxpaying corporation for U.S. federal and state income taxes (based on NEP's election to be taxed as a corporation). NEP recognizes in income its applicable ownership share of U.S. income taxes due to the disregarded/partnership tax status of substantially all of the U.S. projects under NEP OpCo. Net income or loss attributable to noncontrolling interests includes minimal U.S. taxes. The effective tax rates for the three and nine months ended September 30, 2022 were approximately 16% and 14%, respectively, and for the three and nine months ended September 30, 2021 were approximately 6% and 10%, respectively. The effective tax rates are below the U.S. statutory rate of 21% primarily due to tax expense (benefit) attributable to noncontrolling interests of approximately $(23) million and $(126) million for the three and nine months ended September 30, 2022, respectively, and $(14) million and $(64) million for the three and nine months ended September 30, 2021, respectively. On August 16, 2022, the Inflation Reduction Act of 2022 (IRA) was signed into law which includes: (i) extensions for wind and solar tax credits on facilities that start construction before the later of 2034 or the end of the calendar year following the year in which greenhouse gas emissions from U.S. electric generation are reduced by 75% from 2022 levels; (ii) a new solar PTC and standalone battery ITC; (iii) the ability to transfer renewable energy tax credits to an unrelated transferee; and (iv) a 15% corporate profits minimum tax based on pre-tax income for years after 2022. This legislation does not require NEP to revalue its deferred income taxes given that there was no change to the corporate tax rate.

Non-Derivative Fair Value Measu

Non-Derivative Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Non-Derivative Fair Value Measurements	Non-Derivative Fair Value Measurements Non-derivative fair value measurements consist of NEP's cash equivalents. The fair value of these financial assets is determined using the valuation techniques and inputs as described in Note 3 – Fair Value Measurement of Derivative Instruments. The fair value of money market funds that are included in cash and cash equivalents, current other assets and noncurrent other assets on NEP's condensed consolidated balance sheets is estimated using a market approach based on current observable market prices. Recurring Non-Derivative Fair Value Measurements – NEP’s financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows: September 30, 2022 December 31, 2021 Level 1 Level 2 Total Level 1 Level 2 Total (millions) Assets: Cash equivalents $ 6 $ — $ 6 $ 3 $ — $ 3 Total assets $ 6 $ — $ 6 $ 3 $ — $ 3 Financial Instruments Recorded at Other than Fair Value – The carrying amounts and estimated fair values of other financial instruments recorded at other than fair value are as follows: September 30, 2022 December 31, 2021 Carrying Fair Carrying Fair (millions) Long-term debt, including current maturities (a) $ 4,811 $ 4,656 $ 5,327 $ 5,529 ____________________ (a)

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activity	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activity	Derivative Instruments and Hedging Activity NEP uses derivative instruments (primarily interest rate swaps) to manage the interest rate cash flow risk associated with outstanding and expected future debt issuances and borrowings. NEP records all derivative instruments that are required to be marked to market as either assets or liabilities on its condensed consolidated balance sheets and measures them at fair value each reporting period. NEP does not utilize hedge accounting for its derivative instruments. All changes in the derivatives' fair value are recognized in interest expense in NEP's condensed consolidated statements of income. At September 30, 2022 and December 31, 2021, the net notional amounts of the interest rate contracts were approximately $7.8 billion and $7.9 billion, respectively. Cash flows from the interest rate contracts are reported in cash flows from operating activities in NEP's condensed consolidated statements of cash flows. Fair Value Measurement of Derivative Instruments – 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 and/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 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. Transfers between fair value hierarchy levels occur at the beginning of the period in which the transfer occurred. NEP estimates the fair value of its derivative instruments using an income approach based on a discounted cash flows valuation technique utilizing 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 and credit profiles. 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. The tables below present NEP's gross derivative positions, based on the total fair value of each derivative instrument, at September 30, 2022 and December 31, 2021, as required by disclosure rules, as well as the location of the net derivative positions, based on the expected timing of future payments, on NEP's condensed consolidated balance sheets. September 30, 2022 Level 1 Level 2 Level 3 Netting (a) Total (millions) Assets: Interest rate contracts $ — $ 412 $ — $ (27) $ 385 Liabilities: Interest rate contracts $ — $ 41 $ — $ (27) $ 14 Net fair value by balance sheet line item: Current derivative assets $ 55 Noncurrent derivative assets 330 Total derivative assets $ 385 Current derivative liabilities $ 11 Noncurrent derivative liabilities 3 Total derivative liabilities $ 14 December 31, 2021 Level 1 Level 2 Level 3 Netting (a) Total (millions) Assets: Interest rate contracts $ — $ 17 $ — $ (10) $ 7 Liabilities: Interest rate contracts $ — $ 631 $ — $ (10) $ 621 Net fair value by balance sheet line item: Current derivative assets $ — Noncurrent derivative assets 7 Total derivative assets $ 7 Current derivative liabilities $ 26 Noncurrent derivative liabilities 595 Total derivative liabilities $ 621 ____________________ (a) Includes the effect of the contractual ability to settle contracts under master netting arrangements. Financial Statement Impact of Derivative Instruments – Gains related to NEP's interest rate contracts are recorded in NEP's condensed consolidated financial statements as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (millions) Interest rate contracts: Gains recognized in interest expense $ 201 $ 6 $ 978 $ 235 Credit-Risk-Related Contingent Features – Certain of NEP's derivative instruments contain credit-related cross-default and material adverse change triggers, none of which contain requirements to maintain certain credit ratings or financial ratios. At

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities NEP has identified NEP OpCo, a limited partnership with a general partner and limited partners, as a VIE. NEP has consolidated the results of NEP OpCo and its subsidiaries because of its controlling interest in the general partner of NEP OpCo. At September 30, 2022, NEP owned an approximately 46.2% limited partner interest in NEP OpCo and NEE Equity owned a noncontrolling 53.8% limited partner interest in NEP OpCo (NEE's noncontrolling interest). 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 September 30, 2022, NEP OpCo consolidated 17 VIEs related to certain subsidiaries which have sold differential membership interests in entities which own and operate 32 wind generation facilities as well as seven solar projects, including related battery storage facilities, and one battery storage facility. These entities are considered VIEs because the holders of the differential membership interests do not have substantive rights over the significant activities of these entities. The assets, primarily property, plant and equipment – net, and liabilities, primarily accounts payable and accrued expenses and asset retirement obligation, of the VIEs, totaled approximately $9,419 million and $537 million, respectively, at September 30, 2022 and $9,740 million and $1,310 million, respectively, at December 31, 2021. At September 30, 2022, NEP OpCo also consolidated five VIEs related to the sales of noncontrolling Class B interests in certain NEP subsidiaries (see Note 10 – Noncontrolling Interests) which have ownership interests in and operate wind and solar facilities with a combined net generating capacity of approximately 3,576 MW as well as ownership interests in seven natural gas pipeline assets. These entities are considered VIEs because the holders of the noncontrolling Class B interests do not have substantive rights over the significant activities of the entities. The assets, primarily property, plant and equipment – net, intangible assets – PPAs and investments in equity method investees, and the liabilities, primarily accounts payable and accrued expenses, long-term debt, other long-term liabilities and asset retirement obligation, of the VIEs totaled approximately $10,749 million and $1,641 million, respectively, at September 30, 2022 and $11,810 million and $2,480 million, respectively, at December 31, 2021. Certain of these VIEs include five other VIEs related to NEP's ownership interests in Rosmar, Silver State, Meade, Pine Brooke Holdings and Star Moon Holdings (see Note 1). In addition, certain of these VIEs contain entities which have sold differential membership interests and approximately $4,165 million and $4,749 million of assets and $361 million and $1,159 million of liabilities are also included in the disclosure of the VIEs related to differential membership interests at September 30, 2022 and December 31, 2021, respectively. At September 30, 2022, NEP OpCo has an investment in Sunlight Renewables Holdings which is a VIE (see Note 1). The assets, primarily property, plant and equipment – net, and the liabilities, primarily accounts payable and accrued expenses and asset retirement obligation, of the VIE totaled approximately $443 million and $8 million at September 30, 2022, respectively. This VIE contains entities which have sold differential membership interests and approximately $342 million of assets and $8 million of liabilities is included in the disclosure of VIEs related to differential membership interests at September 30, 2022 above. Certain subsidiaries of NEP OpCo have noncontrolling interests in entities accounted for under the equity method that are considered VIEs. NEP has an indirect equity method investment in three NEER solar projects with a total generating capacity of 277 MW and battery storage capacity of 230 MW. 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 (non-economic ownership interests). NEER, as holder of the NEP OpCo 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 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 operation of the projects at its own cost, and to contribute to the projects any capital necessary for the operation of the projects, until NEER offers to sell economic interests to NEP and NEP accepts such offer. At September 30, 2022 and December 31, 2021, NEP's equity method investment related to the non-economic ownership interests of approximately $99 million and $47 million, respectively, is reflected as noncurrent other assets on NEP's condensed consolidated balance sheets. All equity in earnings of the non-economic ownership interests is allocated to net income attributable to noncontrolling interests. 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.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Significant long-term debt issuances and borrowings by subsidiaries of NEP during the nine months ended September 30, 2022 were as follows: Date Issued/Borrowed Debt Issuances/Borrowings Interest Principal Maturity (millions) February 2022 NEP OpCo credit facility Variable (a) $ 86 (b) 2027 January 2022 – September 2022 Senior secured limited-recourse debt Variable (a) $ 6 (c) 2026 ———————————— (a) Variable rate is based on an underlying index plus a margin. (b) During the nine months ended September 30, 2022, approximately $585 million of the outstanding borrowings under this facility were repaid. At September 30, 2022, approximately $55 million of borrowings were outstanding and $118 million of letters of credit were issued under the NEP OpCo credit facility. Approximately $1 million of the outstanding borrowings have a maturity date in 2024. (c) At September 30, 2022, approximately $865 million of borrowings were outstanding under the existing credit agreement of the Meade purchaser and Pipeline Investment Holdings, LLC. In February 2022, the maturity date was extended from February 2026 to February 2027 for essentially all of the NEP OpCo credit facility. In May 2022, the NEP OpCo credit facility was amended to, among other things, increase the revolving credit facility size from $1.25 billion to $2.5 billion. In October 2022, the loan parties borrowed $90 million under the NEP OpCo credit facility. NEP OpCo and its subsidiaries' secured long-term debt agreements 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 September 30, 2022, NEP and its subsidiaries were in compliance with all financial debt covenants under their financings.

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Equity	Equity Distributions – On October 21, 2022, the board of directors of NEP authorized a distribution of $0.7875 per common unit payable on November 14, 2022 to its common unitholders of record on November 4, 2022. NEP anticipates that an adjustment will be made to the conversion ratio for the 2020 convertible notes under the related indenture on the ex-distribution date for such distribution, which will be computed using the last reported sale price of NEP’s units on the day before the ex-distribution date, subject to certain carryforward provisions in the indenture. Earnings Per Unit – Diluted earnings per unit is based on the weighted-average number of common units and potential common units outstanding during the period, including the dilutive effect of convertible notes. The dilutive effect of the 2021 convertible notes and the 2020 convertible notes is computed using the if-converted method. The reconciliation of NEP's basic and diluted earnings per unit for the three and nine months ended September 30, 2022 and 2021 is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (millions, except per unit amounts) Numerator – Net income attributable to NEP $ 79 $ 18 $ 443 $ 146 Denominator: Weighted-average number of common units outstanding – basic 85.1 76.6 84.3 76.3 Dilutive effect of convertible notes 0.5 — 0.1 — Weighted-average number of common units outstanding and assumed conversions 85.6 76.6 84.4 76.3 Earnings per unit attributable to NEP: Basic $ 0.93 $ 0.24 $ 5.25 $ 1.92 Assuming dilution $ 0.93 $ 0.24 $ 5.25 $ 1.92 ATM Program – During the three and nine months ended September 30, 2022, NEP issued approximately 1.8 million common units under its at-the-market equity issuance program (ATM program), for net proceeds of approximately $145 million. During the nine months ended September 30, 2021, NEP issued approximately 0.7 million common units under its ATM program for net proceeds of approximately $50 million. During the three months ended September 30, 2021, NEP did not issue any common units under the ATM program. Fees related to the ATM program were approximately $1 million for the three and nine months ended September 30, 2022 and less than $1 million for the nine months ended September 30, 2021. Common Unit Issuances – During the three and nine months ended September 30, 2022, NEP issued 0.8 million NEP common units upon NEE Equity's exchange of NEP OpCo common units on a one-for-one basis. Accumulated Other Comprehensive Income (Loss) – During the three and nine months ended September 30, 2022, NEP recognized less than $1 million and $1 million, respectively, of other comprehensive income related to equity method investees. During the nine months ended September 30, 2021, NEP recognized approximately $1 million of other comprehensive income related to equity method investees. At September 30, 2022 and 2021, NEP's accumulated other comprehensive loss totaled approximately $17 million and $19 million, respectively, of which $9 million and $11 million, respectively, was attributable to noncontrolling interest and $8 million and $8 million, respectively, was attributable to NEP.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
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 in NEP's condensed consolidated statements of income. Additionally, certain NEP subsidiaries pay affiliates for transmission and retail power services which are reflected as operations and maintenance in NEP's condensed consolidated statements of income. 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 – Under the MSA, an indirect wholly owned subsidiary of NEE provides operational, management and administrative services to NEP, including managing NEP’s day-to-day affairs and providing individuals to act as NEP’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 pays 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 is paid in quarterly installments 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 also makes certain payments to NEE based on the achievement by NEP OpCo of certain target quarterly distribution levels to its unitholders. NEP’s O&M expenses for the three and nine months ended September 30, 2022 include approximately $43 million and $122 million, respectively, and for the three and nine months ended September 30, 2021 include approximately $36 million and $102 million, respectively, related to the MSA. Cash Sweep and Credit Support Agreement – NEP OpCo is a party to the CSCS agreement with NEER under which NEER and certain of its affiliates provide credit support in the form of letters of credit and guarantees to satisfy NEP’s subsidiaries’ contractual obligations. NEP OpCo pays NEER an annual credit support fee based on the level and cost of the credit support provided, payable in quarterly installments. NEP’s O&M expenses for the three and nine months ended September 30, 2022 include approximately $2 million and $6 million, respectively, and for the three and nine months ended September 30, 2021 include approximately $1 million and $4 million, respectively, related to the CSCS agreement. NEER and certain of its affiliates may withdraw funds (Project Sweeps) from NEP OpCo under the CSCS agreement or NEP OpCo's subsidiaries in connection with certain long-term debt agreements and hold those funds in accounts belonging to NEER or its affiliates 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 affiliates 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 or its affiliates fail to return withdrawn funds when required by NEP OpCo's subsidiaries’ financing agreements, the lenders will be entitled to draw on any credit support provided by NEER or its affiliates 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. At September 30, 2022 and December 31, 2021, the cash sweep amounts held in accounts belonging to NEER or its affiliates were approximately $65 million and $57 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 or NEER 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 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. Also, under certain financing agreements, indemnifications have been provided by NEECH. In addition, certain interconnection agreements and site certificates require letters of credit or a surety 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. In addition, NEECH and NEER provided guarantees associated with obligations, primarily incurred and future construction payables, associated with the December 2021 acquisition from NEER discussed in Note 1. At September 30, 2022, NEECH or NEER guaranteed or provided indemnifications, letters of credit or surety bonds totaling approximately $2,513 million related to these obligations. Due to Related Parties – Noncurrent amounts due to related parties on NEP's condensed consolidated balance sheets primarily represent amounts owed by certain of NEP's 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 noncurrent other assets on NEP's condensed consolidated balance sheets.

Summary of Significant Accounti

Summary of Significant Accounting and Reporting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting and Reporting Policies	. Summary of Significant Accounting and Reporting Policies Restricted Cash – A t September 30, 2022 and December 31, 2021 , NEP had less than $1 million and approximately $4 million, respectively, of restricted cash included in current other assets on NEP's condensed consolidated balance sheets. Restricted cash at September 30, 2022 and December 31, 2021 is primarily related to collateral deposits from a counterparty. Restricted cash reported as current assets are recorded as such based on the anticipated use of these funds. Property, Plant and Equipment – Property, plant and equipment consists of the following: September 30, 2022 December 31, 2021 (millions) Property, plant and equipment, gross $ 13,397 $ 13,124 Accumulated depreciation (1,954) (1,707) Property, plant and equipment – net $ 11,443 $ 11,417 Noncontrolling Interests – At September 30, 2022, noncontrolling interests on NEP's condensed consolidated balance sheets primarily reflects the Class B noncontrolling ownership interests (the Class B noncontrolling ownership interests in NEP Renewables II, NEP Pipelines, STX Midstream, Genesis Holdings, and NEP Renewables III owned by third parties), the differential membership interests, NEE Equity's approximately 53.8% noncontrolling interest in NEP OpCo, NEER's approximately 50% noncontrolling ownership interest in Silver State and 33% noncontrolling interest in Sunlight Renewables Holdings, non-affiliated parties' 10% interest in one of the Texas pipelines and 50% interest in Star Moon Holdings and the non-economic ownership interests. The impact of the net income (loss) attributable to the differential membership interests and the Class B noncontrolling ownership interests are allocated to NEE Equity's noncontrolling ownership interest and the net income attributable to NEP based on the respective ownership percentage of NEP OpCo. Details of the activity in noncontrolling interests are below: Class B Noncontrolling Ownership Interests Differential Membership Interests NEE's Indirect Noncontrolling Ownership Interests (a) Other Noncontrolling Ownership Interests Total Noncontrolling (millions) Three months ended September 30, 2022 Balances, June 30, 2022 $ 4,225 $ 3,069 $ 403 $ 1,042 $ 8,739 Acquisition of subsidiaries with differential membership interests — 147 — — 147 Acquisition of subsidiaries with noncontrolling ownership interests — — 95 — 95 Net income (loss) attributable to noncontrolling interests 76 (115) 154 36 151 Related party distributions — — (91) (24) (115) Differential membership investment contributions, net of distributions — 82 — — 82 Payments to Class B noncontrolling interest investors (41) — — — (41) Reclassification of redeemable noncontrolling interests — 93 — — 93 Other — — (1) 1 — Balances, September 30, 2022 $ 4,260 $ 3,276 $ 560 $ 1,055 $ 9,151 Nine months ended September 30, 2022 Balances, December 31, 2021 $ 3,783 $ 3,150 $ (38) $ 966 $ 7,861 Sale of Class B noncontrolling interest – net (b) 408 — — — 408 Acquisition of subsidiaries with differential membership interests — 147 — — 147 Acquisition of subsidiaries with noncontrolling ownership interest — — 95 — 95 Related party note receivable — — 1 — 1 Net income (loss) attributable to noncontrolling interests 214 (431) 756 112 651 Other comprehensive income — — 1 — 1 Related party distributions — — (251) (31) (282) Changes in non-economic ownership interests, net of distributions — — — 1 1 Differential membership investment contributions, net of distributions — 106 — — 106 Payments to Class B noncontrolling interest investors (144) — — — (144) Reclassification of redeemable noncontrolling interests — 304 — — 304 Other (1) — (4) 7 2 Balances, September 30, 2022 $ 4,260 $ 3,276 $ 560 $ 1,055 $ 9,151 ———————————— (a) Primarily reflects NEE Equity's noncontrolling interest in NEP OpCo and NEER's noncontrolling interests in Silver State and Sunlight Renewables Holdings. (b) Represents NEP Renewables III final funding. Class B Noncontrolling Ownership Interests Differential Membership Interests NEE's Indirect Noncontrolling Ownership Interests (a) Other Noncontrolling Ownership Interests Total Noncontrolling (millions) Three months ended September 30, 2021 Balances, June 30, 2021 $ 4,147 $ 1,675 $ 81 $ 197 $ 6,100 Net income (loss) attributable to noncontrolling interests 79 (66) 49 14 76 Related party distributions — — (87) (7) (94) Changes in non-economic ownership interests, net of distributions — — — 6 6 Differential membership investment contributions, net of distributions — 24 — — 24 Payments to Class B noncontrolling interest investors (28) — — — (28) Other — — 1 (1) — Balances, September 30, 2021 $ 4,198 $ 1,633 $ 44 $ 209 $ 6,084 Nine months ended September 30, 2021 Balances, December 31, 2020 $ 3,550 $ 1,759 $ (14) $ 58 $ 5,353 Sale of Class B noncontrolling interest – net (b) 493 — — — 493 Related party note receivable — — 1 — 1 Net income (loss) attributable to noncontrolling interests 217 (220) 288 32 317 Other comprehensive income — — 1 — 1 Related party distributions — — (233) (10) (243) Changes in non-economic ownership interests, net of distributions — — — 130 130 Differential membership investment contributions, net of distributions — 47 — — 47 Payments to Class B noncontrolling interest investors (63) — — — (63) Sale of differential membership interest — 48 — — 48 Other 1 (1) 1 (1) — Balances, September 30, 2021 $ 4,198 $ 1,633 $ 44 $ 209 $ 6,084 ———————————— (a) Primarily reflects NEE Equity's noncontrolling interest in NEP OpCo and NEER's noncontrolling interest in Silver State. (b) Represents Genesis Holdings final funding. Redeemable Noncontrolling Interests – Prior to the acquisition in December 2021 from NEER (see Note 1), differential membership interests related to certain of the acquired solar facilities were sold to third party investors. If, subject to certain contingencies, certain events occurred that delayed or prevented completion of any underlying projects, NEP could have been obligated to reacquire all or a portion of the third party investors' interests in these projects for up to approximately $204 million. Additionally, if a solar PTC was not enacted by a certain date, NEP may have been obligated to return proceeds up to approximately $117 million to the third party investors in these projects. As these potential redemptions or return of proceeds were outside of NEP’s control, the balances were classified as redeemable noncontrolling interests on NEP's condensed consolidated balance sheet as of December 31, 2021. During the three months ending March 31, 2022, the underlying projects were completed and the redeemable noncontrolling interests amount related to the completion of the projects was reclassified to noncontrolling interests. During the three months ending September 30, 2022, legislation was enacted establishing a solar PTC, which substantially resolved the contingencies related to the return of proceeds and resulted in $93 million of redeemable noncontrolling interests being reclassified to noncontrolling interests. The remaining contingencies are expected to be resolved in the fourth quarter of 2022. Prior to paying any amounts to the third party investors related to these contingencies, NEP would receive the full amount of any such payments from a subsidiary of NEER. Reference Rate Reform – In March 2020, the Financial Accounting Standards Board (FASB) issued an accounting standards update which provides certain options to apply GAAP guidance on contract modifications and hedge accounting as companies transition from the London Inter-Bank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. NEP’s contracts that reference LIBOR or other interbank offered rates mainly relate to debt and derivative instruments. The standards update was effective upon issuance and can be applied prospectively through December 31, 2022. As agreements that reference LIBOR or other interbank offered rates as an interest rate benchmark are amended, NEP evaluates whether to apply the options provided by the standards update with regard to eligible contract modifications. Disposal of Pipeline – In April 2022, subsidiaries of NEP sold (the pipeline sale) to a third party all of their ownership interests in an approximately 156-mile, 16-inch pipeline that transports natural gas in Texas for total consideration of approximately $203 million, subject to working capital and other adjustments. Approximately $70 million of the cash proceeds from the sale were distributed to the third-party owner of Class B membership interests in STX Midstream. In connection with the sale, NEP recorded a gain of approximately $20 million ($18 million after tax) in the second quarter of 2022 and $10 million ($9 million after tax) in the third quarter of 2022 upon resolution of a contingency. Disposal of Wind Project – In June 2022, NEP received notification from the offtaker of NEP's 62 MW wind project located in Barnes County, North Dakota of its intent to exercise an option to acquire the wind project for approximately $50 million. As such, the carrying amounts of the major classes of assets related to the wind project that were classified as held for sale, which are included in current other assets on NEP's condensed consolidated balance sheets, were approximately $50 million at September 30, 2022 and primarily represent property, plant and equipment – net. Liabilities associated with assets held for sale, which are included in current other liabilities on NEP's condensed consolidated balance sheets, were approximately $1 million at September 30, 2022. The sale is expected to close in January of 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting and Reporting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Redeemable Noncontrolling Interest	Redeemable Noncontrolling Interests – Prior to the acquisition in December 2021 from NEER (see Note 1), differential membership interests related to certain of the acquired solar facilities were sold to third party investors. If, subject to certain contingencies, certain events occurred that delayed or prevented completion of any underlying projects, NEP could have been obligated to reacquire all or a portion of the third party investors' interests in these projects for up to approximately $204 million. Additionally, if a solar PTC was not enacted by a certain date, NEP may have been obligated to return proceeds up to approximately $117 million to the third party investors in these projects. As these potential redemptions or return of proceeds were outside of NEP’s control, the balances were classified as redeemable noncontrolling interests on NEP's condensed consolidated balance sheet as of December 31, 2021. During the three months ending March 31, 2022, the underlying projects were completed and the redeemable noncontrolling interests amount related to the completion of the projects was reclassified to noncontrolling interests. During the three months ending September 30, 2022, legislation was enacted establishing a solar PTC, which substantially resolved the contingencies related to the return of proceeds and resulted in $93 million of redeemable noncontrolling interests being reclassified to noncontrolling interests. The remaining contingencies are expected to be resolved in the fourth quarter of 2022. Prior to paying any amounts to the third party investors related to these contingencies, NEP would receive the full amount of any such payments from a subsidiary of NEER.
Reference Rate Reform	Reference Rate Reform – In March 2020, the Financial Accounting Standards Board (FASB) issued an accounting standards update which provides certain options to apply GAAP guidance on contract modifications and hedge accounting as companies transition from the London Inter-Bank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. NEP’s contracts that reference LIBOR or other interbank offered rates mainly relate to debt and derivative instruments. The standards update was effective upon issuance and can be applied prospectively through December 31, 2022. As agreements that reference LIBOR or other interbank offered rates as an interest rate benchmark are amended, NEP evaluates whether to apply the options provided by the standards update with regard to eligible contract modifications.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Supplemental Unaudited Pro forma Results of Operations	NEP’s pro forma results of operations in the combined entity had the August 2021 acquisition, the October 2021 acquisition and the Coram II acquisition been completed on January 1, 2020 are as follows: Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 (millions) Unaudited pro forma results of operations: Pro forma revenues $ 276 $ 830 Pro forma operating income $ 69 $ 223 Pro forma net income $ 91 $ 451 Pro forma net income attributable to NEP $ 21 $ 153

Non-Derivative Fair Value Mea_2

Non-Derivative Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
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: September 30, 2022 December 31, 2021 Level 1 Level 2 Total Level 1 Level 2 Total (millions) Assets: Cash equivalents $ 6 $ — $ 6 $ 3 $ — $ 3 Total assets $ 6 $ — $ 6 $ 3 $ — $ 3
Schedule of other financial instrument, carrying amounts and estimated fair values	The carrying amounts and estimated fair values of other financial instruments recorded at other than fair value are as follows: September 30, 2022 December 31, 2021 Carrying Fair Carrying Fair (millions) Long-term debt, including current maturities (a) $ 4,811 $ 4,656 $ 5,327 $ 5,529 ____________________ (a)

Derivative Instruments and He_2

Derivative Instruments and Hedging Activity (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the fair values included in balance sheets	The tables below present NEP's gross derivative positions, based on the total fair value of each derivative instrument, at September 30, 2022 and December 31, 2021, as required by disclosure rules, as well as the location of the net derivative positions, based on the expected timing of future payments, on NEP's condensed consolidated balance sheets. September 30, 2022 Level 1 Level 2 Level 3 Netting (a) Total (millions) Assets: Interest rate contracts $ — $ 412 $ — $ (27) $ 385 Liabilities: Interest rate contracts $ — $ 41 $ — $ (27) $ 14 Net fair value by balance sheet line item: Current derivative assets $ 55 Noncurrent derivative assets 330 Total derivative assets $ 385 Current derivative liabilities $ 11 Noncurrent derivative liabilities 3 Total derivative liabilities $ 14 December 31, 2021 Level 1 Level 2 Level 3 Netting (a) Total (millions) Assets: Interest rate contracts $ — $ 17 $ — $ (10) $ 7 Liabilities: Interest rate contracts $ — $ 631 $ — $ (10) $ 621 Net fair value by balance sheet line item: Current derivative assets $ — Noncurrent derivative assets 7 Total derivative assets $ 7 Current derivative liabilities $ 26 Noncurrent derivative liabilities 595 Total derivative liabilities $ 621 ____________________ (a) Includes the effect of the contractual ability to settle contracts under master netting arrangements.
Schedule of gains (losses) related to interest rate contracts	Gains related to NEP's interest rate contracts are recorded in NEP's condensed consolidated financial statements as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (millions) Interest rate contracts: Gains recognized in interest expense $ 201 $ 6 $ 978 $ 235

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Significant long-term debt issuances and borrowings by subsidiaries of NEP during the nine months ended September 30, 2022 were as follows: Date Issued/Borrowed Debt Issuances/Borrowings Interest Principal Maturity (millions) February 2022 NEP OpCo credit facility Variable (a) $ 86 (b) 2027 January 2022 – September 2022 Senior secured limited-recourse debt Variable (a) $ 6 (c) 2026 ———————————— (a) Variable rate is based on an underlying index plus a margin. (b) During the nine months ended September 30, 2022, approximately $585 million of the outstanding borrowings under this facility were repaid. At September 30, 2022, approximately $55 million of borrowings were outstanding and $118 million of letters of credit were issued under the NEP OpCo credit facility. Approximately $1 million of the outstanding borrowings have a maturity date in 2024. (c) At September 30, 2022, approximately $865 million of borrowings were outstanding under the existing credit agreement of the Meade purchaser and Pipeline Investment Holdings, LLC.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The reconciliation of NEP's basic and diluted earnings per unit for the three and nine months ended September 30, 2022 and 2021 is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (millions, except per unit amounts) Numerator – Net income attributable to NEP $ 79 $ 18 $ 443 $ 146 Denominator: Weighted-average number of common units outstanding – basic 85.1 76.6 84.3 76.3 Dilutive effect of convertible notes 0.5 — 0.1 — Weighted-average number of common units outstanding and assumed conversions 85.6 76.6 84.4 76.3 Earnings per unit attributable to NEP: Basic $ 0.93 $ 0.24 $ 5.25 $ 1.92 Assuming dilution $ 0.93 $ 0.24 $ 5.25 $ 1.92

Summary of Significant Accoun_3

Summary of Significant Accounting and Reporting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment – Property, plant and equipment consists of the following: September 30, 2022 December 31, 2021 (millions) Property, plant and equipment, gross $ 13,397 $ 13,124 Accumulated depreciation (1,954) (1,707) Property, plant and equipment – net $ 11,443 $ 11,417
Noncontrolling Interests
Noncontrolling Interest [Line Items]
Schedule of Noncontrolling Interest	Details of the activity in noncontrolling interests are below: Class B Noncontrolling Ownership Interests Differential Membership Interests NEE's Indirect Noncontrolling Ownership Interests (a) Other Noncontrolling Ownership Interests Total Noncontrolling (millions) Three months ended September 30, 2022 Balances, June 30, 2022 $ 4,225 $ 3,069 $ 403 $ 1,042 $ 8,739 Acquisition of subsidiaries with differential membership interests — 147 — — 147 Acquisition of subsidiaries with noncontrolling ownership interests — — 95 — 95 Net income (loss) attributable to noncontrolling interests 76 (115) 154 36 151 Related party distributions — — (91) (24) (115) Differential membership investment contributions, net of distributions — 82 — — 82 Payments to Class B noncontrolling interest investors (41) — — — (41) Reclassification of redeemable noncontrolling interests — 93 — — 93 Other — — (1) 1 — Balances, September 30, 2022 $ 4,260 $ 3,276 $ 560 $ 1,055 $ 9,151 Nine months ended September 30, 2022 Balances, December 31, 2021 $ 3,783 $ 3,150 $ (38) $ 966 $ 7,861 Sale of Class B noncontrolling interest – net (b) 408 — — — 408 Acquisition of subsidiaries with differential membership interests — 147 — — 147 Acquisition of subsidiaries with noncontrolling ownership interest — — 95 — 95 Related party note receivable — — 1 — 1 Net income (loss) attributable to noncontrolling interests 214 (431) 756 112 651 Other comprehensive income — — 1 — 1 Related party distributions — — (251) (31) (282) Changes in non-economic ownership interests, net of distributions — — — 1 1 Differential membership investment contributions, net of distributions — 106 — — 106 Payments to Class B noncontrolling interest investors (144) — — — (144) Reclassification of redeemable noncontrolling interests — 304 — — 304 Other (1) — (4) 7 2 Balances, September 30, 2022 $ 4,260 $ 3,276 $ 560 $ 1,055 $ 9,151 ———————————— (a) Primarily reflects NEE Equity's noncontrolling interest in NEP OpCo and NEER's noncontrolling interests in Silver State and Sunlight Renewables Holdings. (b) Represents NEP Renewables III final funding. Class B Noncontrolling Ownership Interests Differential Membership Interests NEE's Indirect Noncontrolling Ownership Interests (a) Other Noncontrolling Ownership Interests Total Noncontrolling (millions) Three months ended September 30, 2021 Balances, June 30, 2021 $ 4,147 $ 1,675 $ 81 $ 197 $ 6,100 Net income (loss) attributable to noncontrolling interests 79 (66) 49 14 76 Related party distributions — — (87) (7) (94) Changes in non-economic ownership interests, net of distributions — — — 6 6 Differential membership investment contributions, net of distributions — 24 — — 24 Payments to Class B noncontrolling interest investors (28) — — — (28) Other — — 1 (1) — Balances, September 30, 2021 $ 4,198 $ 1,633 $ 44 $ 209 $ 6,084 Nine months ended September 30, 2021 Balances, December 31, 2020 $ 3,550 $ 1,759 $ (14) $ 58 $ 5,353 Sale of Class B noncontrolling interest – net (b) 493 — — — 493 Related party note receivable — — 1 — 1 Net income (loss) attributable to noncontrolling interests 217 (220) 288 32 317 Other comprehensive income — — 1 — 1 Related party distributions — — (233) (10) (243) Changes in non-economic ownership interests, net of distributions — — — 130 130 Differential membership investment contributions, net of distributions — 47 — — 47 Payments to Class B noncontrolling interest investors (63) — — — (63) Sale of differential membership interest — 48 — — 48 Other 1 (1) 1 (1) — Balances, September 30, 2021 $ 4,198 $ 1,633 $ 44 $ 209 $ 6,084 ———————————— (a) Primarily reflects NEE Equity's noncontrolling interest in NEP OpCo and NEER's noncontrolling interest in Silver State.

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	1 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Dec. 31, 2021	Sep. 30, 2022 USD ($)	Apr. 30, 2022 MW	Dec. 31, 2021 MW	Dec. 31, 2021 numberOfWindGenerationFacilities	Dec. 31, 2021 solar_generation_facility	Oct. 31, 2021 MW	Aug. 31, 2021 MW
Business Acquisition [Line Items]
Acquisition costs | $			$ 2
Star Moon Holdings, LLC
Business Acquisition [Line Items]
Noncontrolling limited partner interest percentage	50%		50%
Solar Holdings Portfolio Twelve, LLC | NEER
Business Acquisition [Line Items]
Ownership percentage sold		0.50
August 2021 Acquisition | Indirect Subsidiary
Business Acquisition [Line Items]
Ownership interests percentage									100%
Generation facility capacity (mw) | MW									391
October 2021 Acquisition | Indirect Subsidiary Of NEER
Business Acquisition [Line Items]
Generation facility capacity (mw) | MW								589
Star Moon Holdings, LLC | Indirect Subsidiary Of NEER
Business Acquisition [Line Items]
Generation facility capacity (mw) | MW					1,260
Number of generation facilities						7	6
Number of generation facilities under construction | solar_generation_facility							3
Power generation capacity | MW					58
Star Moon Holdings, LLC | Star Moon Holdings, LLC | Indirect Subsidiary Of NEER
Business Acquisition [Line Items]
Ownership interests percentage		100%
Noncontrolling limited partner interest percentage		50%
Indirect Subsidiary, Coram II Acquisition | Indirect Subsidiary
Business Acquisition [Line Items]
Generation facility capacity (mw) | MW					102
September 2022 Acquisition
Business Acquisition [Line Items]
Cash consideration, gross | $	$ 191
Working capital and adjustments | $	3
Noncontrolling interest, differential interest | $	435
Noncontrolling interests | $	242
Noncontrolling Interests related to differential membership interests | $	$ 147
September 2022 Acquisition | Indirect Subsidiary Of NEER
Business Acquisition [Line Items]
Power generation capacity | MW				230
September 2022 Acquisition | Battery Storage Facility | Indirect Subsidiary Of NEER
Business Acquisition [Line Items]
Ownership interests percentage				67%

Acquisitions - Supplemental Una

Acquisitions - Supplemental Unaudited Pro forma Results of Operations (Details) - August 2021, October 2021, Coram II Acquisitions - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Business Acquisition, Pro Forma Information [Abstract]
Pro forma revenues	$ 276	$ 830
Pro forma operating income	69	223
Pro forma net income	91	451
Pro forma net income attributable to NEP	$ 21	$ 153

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Renewable Energy Sales [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 232	$ 190	$ 747	$ 530
Revenues over the remaining terms of the related contacts	183		183
Natural Gas Transportation Services [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	64	$ 58	181	$ 176
Revenues over the remaining terms of the related contacts	$ 1,600		$ 1,600

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	16%	6%	14%	10%
Taxes attributable to the noncontrolling interests	$ (23)	$ (14)	$ (126)	$ (64)

Non-Derivative Fair Value Mea_3

Non-Derivative Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Recurring Basis [Member] - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets:
Cash equivalents	$ 6	$ 3
Total assets	6	3
Level 1
Assets:
Cash equivalents	6	3
Total assets	6	3
Level 2
Assets:
Cash equivalents	0	0
Total assets	$ 0	$ 0

Non-Derivative Fair Value Mea_4

Non-Derivative Fair Value Measurements - Carrying Value and Fair Value of Other Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current maturities	$ 4,811	$ 5,327
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current maturities	4,656	5,529
Level 2 | Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current maturities	4,636	5,506
Level 2 | Fair Value [Member] | 2020 and 2021 Convertible Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current maturities	$ 1,063	$ 1,188

Derivative Instruments and He_3

Derivative Instruments and Hedging Activity - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative Instruments with Contingent Features Liabilities, at Fair Value	$ 39	$ 608
Interest Rate Swap [Member]
Derivative [Line Items]
Notional amount	$ 7,800	$ 7,900

Derivative Instruments and He_4

Derivative Instruments and Hedging Activity - Fair Value of Derivative Instruments Included in Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative Asset	$ 385	$ 7
Derivative Liability	14	621
Current derivative assets	55	0
Noncurrent derivative assets	330	7
Current derivative liabilities	11	26
Noncurrent derivative liabilities	3	595
Interest Rate Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Netting	(27)	(10)
Derivative Liability, Netting	(27)	(10)
Derivative Asset, Total	385	7
Derivative Liability, Total	14	621
Interest Rate Contract [Member] | Level 1
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0
Derivative Liability	0	0
Interest Rate Contract [Member] | Level 2
Derivatives, Fair Value [Line Items]
Derivative Asset	412	17
Derivative Liability	41	631
Interest Rate Contract [Member] | Level 3
Derivatives, Fair Value [Line Items]
Derivative Asset	0	0
Derivative Liability	$ 0	$ 0

Derivative Instruments and He_5

Derivative Instruments and Hedging Activity - Gains (Losses) Related to Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest Rate Contract [Member] | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gains recognized in interest expense	$ 201	$ 6	$ 978	$ 235

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) solar_generation_facility numberOfWindGenerationFacilities variable_interest_entity numberOfBatteryStorageFacilities MW equity_investment shares	Dec. 31, 2021 USD ($)
Variable Interest Entity [Line Items]
Assets	$ 18,467	$ 18,976
Liabilities	5,878	7,817
Non-current assets	$ 17,668	17,566
NEP OpCo [Member] | Subsidiaries [Member]
Variable Interest Entity [Line Items]
Generation facility capacity (mw) | MW	277
Number of investments | equity_investment	3
Power storage capacity | MW	230
Economic rights percentage	100%
Differential Membership Interests
Variable Interest Entity [Line Items]
Number of entities consolidated | variable_interest_entity	17
Number of wind facilities | numberOfWindGenerationFacilities	32
Number of solar facilities | solar_generation_facility	7
Number of battery storage facilities | numberOfBatteryStorageFacilities	1
Differential Membership Interests | Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Assets	$ 9,419	9,740
Liabilities	537	1,310
Non-Economic Ownership Interest | NEP OpCo [Member]
Variable Interest Entity [Line Items]
Non-current assets	$ 99	47
NEP Subsidiaries [Member] | Noncontrolling Class B interests [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of entities consolidated | variable_interest_entity	5
Assets	$ 10,749	11,810
Liabilities	$ 1,641	2,480
Generation facility capacity (mw) | MW	3,576
Number of natural gas pipelines | solar_generation_facility	7
Rosmar, Silver State and Meade [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of entities consolidated | variable_interest_entity	5
Other Acquisitions [Member] | Differential Membership And Noncontrolling Class B Interests [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Assets	$ 4,165	4,749
Liabilities	361	$ 1,159
Sunlight Renewable Holdings | Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Assets	443
Liabilities	8
Sunlight Renewable Holdings | Differential Membership Interests | Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Assets	342
Liabilities	$ 8
NEP OpCo [Member] | NEP OpCo [Member]
Variable Interest Entity [Line Items]
Ownership interests percentage	50%
NEP OpCo [Member] | Class B Units, Series 1 [Member] | NextEra Energy Partners, LP [Member] | NEP OpCo [Member]
Variable Interest Entity [Line Items]
Number of units issued (in units) | shares	1,000,000
NEP OpCo [Member] | Class B Units, Series 2 [Member] | NextEra Energy Partners, LP [Member] | NEP OpCo [Member]
Variable Interest Entity [Line Items]
Number of units issued (in units) | shares	1,000,000
NEP OpCo [Member]
Variable Interest Entity [Line Items]
Limited partner interest percentage	46.20%
Noncontrolling limited partner interest percentage	53.80%

Debt - Schedule of Long Term De

Debt - Schedule of Long Term Debt (Details) - NEP OpCo [Member]	9 Months Ended
	Sep. 30, 2022 USD ($)
Line of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt issuances/borrowings	$ 86,000,000
Repayments of long-term debt	585,000,000
Outstanding borrowings	55,000,000
Secured Debt [Member]
Debt Instrument [Line Items]
Debt issuances/borrowings	6,000,000
Outstanding borrowings	865,000,000
Letter of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total amount of letters of credit	118,000,000
Letter of Credit [Member] | Revolving Credit Facility Due 2024 [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 1,000,000

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	Oct. 31, 2022	May 31, 2022	Apr. 30, 2022	Jan. 01, 2021
Secured Debt [Member]
Debt Instrument [Line Items]
Principal amount				$ 600
Convertible notes				$ 64
NEP OpCo [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 2,500	$ 1,250
NEP OpCo [Member] | Line of Credit [Member] | Revolving Credit Facility [Member] | Subsequent Event
Debt Instrument [Line Items]
Line of credit facility, fair value of amount outstanding	$ 90

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended			9 Months Ended
	Oct. 21, 2022	Sep. 30, 2022		Sep. 30, 2021	Sep. 30, 2022		Sep. 30, 2021		Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common units		$ 179	[1],[2]		$ 179	[3],[4]	$ 56	[5]
Conversion of stock, shares converted (in shares)		0.8			0.8
Other comprehensive income					$ 1		1
Other comprehensive income, equity method investments		$ 1			1		1
Stockholders' equity, including portion attributable to noncontrolling interest		12,563		$ 8,405	12,563		$ 8,405		$ 11,959	$ 10,838	$ 8,455	$ 7,707
Noncontrolling interests		$ 9,151			$ 9,151					$ 7,861
ATM Program
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common units (in shares)		1.8		0.7	1.8		0.7
Issuance of common units		$ 145		$ 50	$ 145		$ 50
Stock issuance costs		1			1		1
Subsequent Event
Accumulated Other Comprehensive Income (Loss) [Line Items]
Distribution made to limited partner, distributions declared, per unit (in dollars per share)	$ 0.7875
Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity, including portion attributable to noncontrolling interest		(17)		(19)	(17)		(19)
Total Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Noncontrolling interests		(9)		(11)	(9)		(11)
Total Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity attributable to parent		$ (8)		$ (8)	$ (8)		$ (8)
[1]Includes NEE Equity's exchange of NEP OpCo common units for NEP common units. Includes deferred tax impact of approximately $14 million. See Note 8 - Common Unit Issuances.[2]See Note 8 – ATM Program for further discussion. Includes deferred tax impact of approximately $18 million.[3]Includes NEE Equity's exchange of NEP OpCo common units for NEP common units. Includes deferred tax impact of approximately $14 million. See Note 8 - Common Unit Issuances.[4]See Note 8 – ATM Program for further discussion. Includes deferred tax impact of approximately $18 million.[5]See Note 8 – ATM Program for further discussion. Includes deferred tax impact of approximately $6 million.

Equity - Basic and Diluted Earn

Equity - Basic and Diluted Earnings Per Unit (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Numerator – Net income attributable to NEP	$ 79	$ 18	$ 443	$ 146
Denominator:
Weighted-average number of common units outstanding – basic (in shares)	85.1	76.6	84.3	76.3
Convertible notes and preferred units (in shares)	0.5	0	0.1	0
Weighted-average number of common units outstanding – assuming dilution (in shares)	85.6	76.6	84.4	76.3
Earnings per unit attributable to NEP:
Basic (in shares)	$ 0.93	$ 0.24	$ 5.25	$ 1.92
Assuming dilution (in shares)	$ 0.93	$ 0.24	$ 5.25	$ 1.92

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Due from related parties	$ 217		$ 217		$ 1,061
Revenue from related parties	9	$ 5	21	$ 44
Transportation and Fuel Management Agreement [Member]
Related Party Transaction [Line Items]
Revenue from related parties	3	4	6	39
NextEra Energy, Inc. [Member] | Management Services Agreement [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	(43)	(36)	(122)	(102)
NEER | Cash Sweep and Credit Support Agreement [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	(2)	$ (1)	(6)	$ (4)
Due from related parties	65		$ 65		$ 57
NEP OpCo [Member] | NextEra Energy, Inc. [Member] | Management Services Agreement [Member]
Related Party Transaction [Line Items]
Management fee, percent of EBITDA			1%
Annual management fee			$ 4
Related Party Transaction, Additional Management Fee, Threshold, Prior Year EBITDA			4
NextEra Energy Capital Holdings [Member] | Guarantees and Letters of Credit [Member]
Related Party Transaction [Line Items]
Total amount of letters of credit	$ 2,513		$ 2,513

Summary of Significant Accoun_4

Summary of Significant Accounting and Reporting Policies - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended	12 Months Ended
	Apr. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) MW	Jun. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) pipeline MW	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Restricted cash, current		$ 1		$ 1	$ 4
Redeemable noncontrolling interest, contingent obligation, reaquisition amount (up to)					204
Redeemable noncontrolling interest, contingent obligation, returns					$ 117
Reclassified redeemable noncontrolling interest		(93)
Disposal Group, Disposed of by Sale, Not Discontinued Operations | The Pipeline Sale
Property, Plant and Equipment [Line Items]
Disposal consideration	$ 203
Gain (loss) on disposition of assets		10	$ 20
Gain on sale of pipeline, net of tax		9	$ 18
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Wind Project
Property, Plant and Equipment [Line Items]
Disposal consideration		$ 50		$ 50
Wind project capacity | MW		62		62
Assets held for sale, disposal		$ 50		$ 50
Liabilities, disposal		$ 1		$ 1
Non Affiliated Party
Property, Plant and Equipment [Line Items]
Number of pipelines | pipeline				1
Third-Party Owner Of Class B Membership Interests | Disposal Group, Disposed of by Sale, Not Discontinued Operations | The Pipeline Sale
Property, Plant and Equipment [Line Items]
Proceeds from sale of pipeline	$ 70
NEP OpCo [Member]
Property, Plant and Equipment [Line Items]
Noncontrolling ownership interest		53.80%		53.80%
NEP OpCo [Member] | Non Affiliated Party
Property, Plant and Equipment [Line Items]
Noncontrolling ownership interest		10%		10%
Silver State [Member]
Property, Plant and Equipment [Line Items]
Noncontrolling ownership interest		50%		50%
Star Moon Holdings, LLC
Property, Plant and Equipment [Line Items]
Noncontrolling ownership interest		50%		50%
NEER
Property, Plant and Equipment [Line Items]
Noncontrolling ownership interest		33%		33%

Summary of Significant Accoun_5

Summary of Significant Accounting and Reporting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Property, plant and equipment, gross	$ 13,397	$ 13,124
Accumulated depreciation	(1,954)	(1,707)
Property, plant and equipment - net	$ 11,443	$ 11,417

Summary of Significant Accoun_6

Summary of Significant Accounting and Reporting Policies - Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balances, beginning of period			$ 7,861
Sale of Class B noncontrolling interest – net	$ 1		407	$ 493
Related party note receivable			1	1
Net income (loss) attributable to noncontrolling interests	(153)	$ (76)	(660)	(317)
Related party distributions	(115)	(94)	(282)	(243)
Changes in non-economic ownership interests		6	1	130
Payments to Class B noncontrolling interest investors	(41)	(28)	(144)	(63)
Sale of differential membership interest				48
Other		(1)	2	(2)
Balances, end of period	$ 9,151		$ 9,151
NEER
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Noncontrolling limited partner interest percentage	33%		33%
Class B Noncontrolling Ownership Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balances, beginning of period	$ 4,225	4,147	$ 3,783	3,550
Sale of Class B noncontrolling interest – net			408	493
Net income (loss) attributable to noncontrolling interests	76	79	214	217
Payments to Class B noncontrolling interest investors	(41)	(28)	(144)	(63)
Other			(1)	1
Balances, end of period	4,260	4,198	4,260	4,198
Differential Membership Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balances, beginning of period	3,069	1,675	3,150	1,759
Acquisition of subsidiaries with differential membership interests	147		147
Net income (loss) attributable to noncontrolling interests	(115)	(66)	(431)	(220)
Differential membership investment contributions, net of distributions	82	24	106	47
Sale of differential membership interest				48
Reclassification of redeemable noncontrolling interests	93		304
Other	0		0	(1)
Balances, end of period	3,276	1,633	3,276	1,633
NEE's Indirect Noncontrolling Ownership Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balances, beginning of period	403	81	(38)	(14)
Related party note receivable			1	1
Acquisition of subsidiary with noncontrolling ownership interests	95		95
Net income (loss) attributable to noncontrolling interests	154	49	756	288
Other comprehensive income (loss)			1	1
Related party distributions	(91)	(87)	(251)	(233)
Other	(1)	1	(4)	1
Balances, end of period	560	44	560	44
Other Noncontrolling Ownership Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balances, beginning of period	1,042	197	966	58
Net income (loss) attributable to noncontrolling interests	36	14	112	32
Related party distributions	(24)	(7)	(31)	(10)
Changes in non-economic ownership interests		6	1	130
Other	1	(1)	7	(1)
Balances, end of period	1,055	209	1,055	209
Noncontrolling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balances, beginning of period	8,739	6,100	7,861	5,353
Sale of Class B noncontrolling interest – net			408	493
Related party note receivable			1	1
Acquisition of subsidiaries with differential membership interests	147		147
Acquisition of subsidiary with noncontrolling ownership interests	95		95
Net income (loss) attributable to noncontrolling interests	151	76	651	317
Other comprehensive income (loss)			1	1
Related party distributions	(115)	(94)	(282)	(243)
Changes in non-economic ownership interests		6	1	130
Differential membership investment contributions, net of distributions	82	24	106	47
Payments to Class B noncontrolling interest investors	(41)	(28)	(144)	(63)
Sale of differential membership interest				48
Reclassification of redeemable noncontrolling interests	93		304
Other	0	0	2	0
Balances, end of period	$ 9,151	$ 6,084	$ 9,151	$ 6,084