Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Jan. 31, 2015 | Jun. 30, 2014 |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | Nevada Power Company | ||
Entity Central Index Key | 71180 | ||
Current Fiscal Year End Date | -19 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 1,000 | ||
Entity Public Float | $0 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $220 | $126 |
Accounts receivable, net | 243 | 227 |
Inventories | 88 | 73 |
Regulatory assets | 57 | 81 |
Deferred income taxes | 145 | 152 |
Other current assets | 32 | 39 |
Total current assets | 785 | 698 |
Property, plant and equipment, net | 7,003 | 6,992 |
Regulatory assets | 1,069 | 1,057 |
Other assets | 78 | 88 |
Total assets | 8,935 | 8,835 |
Current liabilities: | ||
Accounts payable | 212 | 240 |
Accrued interest | 60 | 61 |
Accrued property, income and other taxes | 30 | 29 |
Regulatory liabilities | 40 | 74 |
Long-term Debt and Capital and Financial Lease Obligations, Current | 264 | 22 |
Customer Deposits, Current | 55 | 58 |
Other current liabilities | 36 | 22 |
Total current liabilities | 697 | 506 |
Long-term Debt and Capital and Financial Lease Obligations | 3,312 | 3,555 |
Regulatory liabilities | 326 | 312 |
Deferred income taxes | 1,414 | 1,298 |
Other long-term liabilities | 298 | 274 |
Total liabilities | 6,047 | 5,945 |
Shareholder's equity: | ||
Common stock - $1.00 stated value, 1,000 shares authorized, issued and outstanding | 0 | 0 |
Other paid-in capital | 2,308 | 2,308 |
Retained earnings | 583 | 586 |
Accumulated other comprehensive loss, net | -3 | -4 |
Total shareholder's equity | 2,888 | 2,890 |
Total liabilities and shareholder's equity | $8,935 | $8,835 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Statement of Financial Position [Abstract] | ||
Common stock, stated value | $1 | $1 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 1,000 | 1,000 |
Common stock, shares outstanding | 1,000 | 1,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement [Abstract] | |||
Operating revenue | $2,337 | $2,092 | $2,145 |
Operating costs and expenses: | |||
Cost of fuel, energy and capacity | 1,076 | 835 | 813 |
Operating and maintenance | 405 | 455 | 423 |
Depreciation and amortization | 274 | 277 | 270 |
Property and other taxes | 41 | 38 | 37 |
Merger-related | 0 | 52 | 0 |
Total operating costs and expenses | 1,796 | 1,657 | 1,543 |
Operating income | 541 | 435 | 602 |
Other income (expense): | |||
Interest expense | -208 | -215 | -215 |
Allowance for borrowed funds | 1 | 6 | 5 |
Allowance for equity funds | 1 | 8 | 7 |
Other, net | 22 | 5 | -3 |
Total other income (expense) | -184 | -196 | -206 |
Income before income tax expense | 357 | 239 | 396 |
Income tax expense | 130 | 94 | 138 |
Net income | $227 | $145 | $258 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholder's Equity (USD $) | Total | Common Stock | Other Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss, Net |
In Millions, except Share data, unless otherwise specified | |||||
Balance, Period Start at Dec. 31, 2011 | $2,849 | $0 | $2,308 | $545 | ($4) |
Balance (shares), Period Start at Dec. 31, 2011 | 1,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 258 | 258 | |||
Dividends declared | 184 | -184 | |||
Other | -1 | -1 | |||
Balance, Period End at Dec. 31, 2012 | 2,922 | 0 | 2,308 | 619 | -5 |
Balance (shares), Period End at Dec. 31, 2012 | 1,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 145 | 145 | |||
Dividends declared | -178 | -178 | |||
Other | 1 | 1 | |||
Balance, Period End at Dec. 31, 2013 | 2,890 | 0 | 2,308 | 586 | -4 |
Balance (shares), Period End at Dec. 31, 2013 | 1,000 | 1,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 227 | 227 | |||
Dividends declared | -230 | -230 | |||
Other | 1 | 1 | |||
Balance, Period End at Dec. 31, 2014 | $2,888 | $0 | $2,308 | $583 | ($3) |
Balance (shares), Period End at Dec. 31, 2014 | 1,000 | 1,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income | $227 | $145 | $258 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Loss on nonrecurring items | 15 | 0 | -4 |
Depreciation and amortization | 274 | 277 | 270 |
Deferred income taxes and amortization of investment tax credits | 130 | 95 | 151 |
Allowance for equity funds | -1 | -8 | -7 |
Amortization of deferred charges | 79 | -54 | -170 |
Deferred Energy Charge | -44 | -105 | 112 |
Amortization of other regulatory asset | 47 | 89 | 88 |
Other, net | 72 | 90 | -25 |
Accounts receivable and other assets | |||
Accounts receivable and other assets | -71 | -12 | 3 |
Inventories | -15 | 10 | -5 |
Accounts payable and other liabilities | -9 | 21 | 31 |
Net cash flows from operating activities | 704 | 548 | 702 |
Cash flows from investing activities: | |||
Capital expenditures | -410 | -267 | -288 |
Proceeds from contribution in aid of construction and customer advances | 39 | 34 | 43 |
Proceeds from sale of asset | 0 | 14 | 0 |
Other, net | 0 | 3 | 0 |
Net cash flows from investing activities | -371 | -216 | -245 |
Cash flows from financing activities: | |||
Proceeds from issuance of long-term debt, net of costs | 0 | 0 | 132 |
Repayments of long-term debt | -9 | -229 | -270 |
Dividends paid | -230 | -178 | -184 |
Net cash flows from financing activities | -239 | -407 | -322 |
Net change in cash and cash equivalents | 94 | -75 | 135 |
Cash and cash equivalents at beginning of period | 126 | 201 | 66 |
Cash and cash equivalents at end of period | $220 | $126 | $201 |
Organization_and_Operations_No
Organization and Operations (Notes) | 12 Months Ended | |
Dec. 31, 2014 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Organization and Operations | Organization and Operations | |
Nevada Power Company, together with its subsidiaries (collectively, the "Company"), is a wholly owned subsidiary of NV Energy, Inc. ("NV Energy"), a holding company that also owns Sierra Pacific Power Company ("Sierra Pacific") and certain other subsidiaries. The Company is a United States regulated electric utility company serving retail customers, including residential, commercial and industrial customers primarily in the Las Vegas, North Las Vegas, Henderson and adjoining areas. NV Energy is an indirect wholly owned subsidiary of Berkshire Hathaway Energy Company ("BHE"). BHE is a holding company based in Des Moines, Iowa that owns subsidiaries principally engaged in energy businesses. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). | ||
On December 19, 2013, the merger contemplated by the Agreement and Plan of Merger dated May 29, 2013 among BHE, Silver Merger Sub, Inc. ("Merger Sub"), BHE's wholly owned subsidiary, and NV Energy, whereby Merger Sub was merged into NV Energy and NV Energy became an indirect wholly owned subsidiary of BHE ("BHE Merger") was completed. | ||
The transaction was approved by the board of directors of both NV Energy and BHE and the shareholders of NV Energy and received various regulatory approvals, including the Public Utilities Commission of Nevada ("PUCN"), subject to certain stipulations. The stipulations included, among others: | ||
• | A one-time bill credit to retail customers of the Company of $15 million credited to retail customers over one billing cycle beginning within 30 days of the close of the BHE Merger. | |
• | BHE and NV Energy agreed to not seek recovery of the acquisition premium, transaction and transition costs associated with the BHE Merger from customers. | |
• | NV Energy agreed that it will base any rate case filed in 2014 by the Company with a requested change in revenue requirement on a return on common equity not to exceed 10%. | |
• | The Company will not seek to collect lost revenues as described in section 704.9524 of the Nevada Administrative Code for calendar year 2013 in 2014 rates, and will not seek collection of lost revenues in excess of 50% of what the Company could otherwise request for calendar year 2014 in 2015 rates. NV Energy also agreed to work cooperatively with PUCN staff and the Nevada Bureau of Consumer Protection ("BCP") to develop a legislative or administrative alternative to the current mechanism that would retain the objective of encouraging investment in energy efficiency and that is acceptable to NV Energy, PUCN staff and the BCP. NV Energy and the BCP also agree to work in good faith to have a legislative or administrative alternative adopted. | |
• | Normal rate case rules and procedures apply to costs and revenues, and any under or over earnings will accrue to the Company until the next rate case filing after 2014, subject to specified adjustments for intercompany charges from BHE and its other subsidiaries as described in the PUCN Joint Application and the exclusion of the $15 million one-time bill credit from the test period. The commitment does not preclude parties from proposing any other adjustments to test year or certification period results. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies | |||||||||||
Basis of Consolidation and Presentation | ||||||||||||
The Consolidated Financial Statements include the accounts of the Company and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. | ||||||||||||
The impacts of acquisition accounting from the BHE Merger were not reflected on the Consolidated Financial Statements of the Company. | ||||||||||||
Use of Estimates in Preparation of Financial Statements | ||||||||||||
The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. | ||||||||||||
Accounting for the Effects of Certain Types of Regulation | ||||||||||||
The Company prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, the Company defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. | ||||||||||||
The Company continually evaluates the applicability of the guidance for regulated operations and whether its regulatory assets and liabilities are probable of inclusion in future regulated rates by considering factors such as a change in the regulator's approach to setting rates from cost-based ratemaking to another form of regulation, other regulatory actions or the impact of competition that could limit the Company's ability to recover its costs. The Company believes the application of the guidance for regulated operations is appropriate and its existing regulatory assets and liabilities are probable of inclusion in future regulated rates. The evaluation reflects the current political and regulatory climate at both the federal and state levels. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss). | ||||||||||||
Fair Value Measurements | ||||||||||||
As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered in determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. | ||||||||||||
Cash Equivalents and Restricted Cash and Investments | ||||||||||||
Cash equivalents consist of funds invested in money market mutual funds, United States Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted amounts are included in other assets on the Consolidated Balance Sheets. | ||||||||||||
Allowance for Doubtful Accounts | ||||||||||||
Accounts receivable are stated at the outstanding principal amount, net of an estimated allowance for doubtful accounts. The allowance for doubtful accounts is based on the Company's assessment of the collectibility of amounts owed to the Company by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. The Company also has the ability to assess deposits on customers who have delayed payments or who are deemed to be a credit risk. The change in the balance of the allowance for doubtful accounts, which is included in accounts receivable, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31 (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Beginning balance | $ | 8 | $ | 8 | $ | 7 | ||||||
Charged to operating costs and expenses, net | 14 | 15 | 15 | |||||||||
Write-offs, net | (8 | ) | (15 | ) | (14 | ) | ||||||
Ending balance | $ | 14 | $ | 8 | $ | 8 | ||||||
Derivatives | ||||||||||||
The Company employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price and interest rate risk. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets on the Consolidated Balance Sheets. | ||||||||||||
Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked‑to‑market and settled amounts are recognized as cost of fuel, energy and capacity on the Consolidated Statements of Operations. | ||||||||||||
For the Company's derivatives not designated as hedging contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. | ||||||||||||
For the Company's derivatives designated as hedging contracts, the Company formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. The Company formally documents hedging activity by transaction type and risk management strategy. | ||||||||||||
Inventories | ||||||||||||
Inventories consist mainly of materials and supplies totaling $58 million and $54 million as of December 31, 2014 and 2013, respectively, and fuel, which includes coal stocks, stored natural gas and fuel oil, totaling $30 million and $19 million as of December 31, 2014 and 2013, respectively. The cost is determined using the average cost method. Materials are charged to inventory when purchased and are expensed or capitalized to construction work in process, as appropriate, when used. Fuel costs are recovered from retail customers through the base tariff energy rates and deferred energy accounting adjustment charges approved by the PUCN. | ||||||||||||
Property, Plant and Equipment, Net | ||||||||||||
General | ||||||||||||
Additions to property, plant and equipment are recorded at cost. The Company capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. The cost of repairs and minor replacements are charged to expense when incurred with the exception of costs for generation plant maintenance under certain long-term service agreements. Costs under these agreements are expensed straight-line over the term of the agreements as approved by the PUCN. | ||||||||||||
Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by the Company's various regulatory authorities. Depreciation studies are completed by the Company to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. | ||||||||||||
Generally when the Company retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. | ||||||||||||
Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, are capitalized as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. The rate applied to construction costs is the lower of the PUCN allowed rate of return and rates computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC"). After construction is completed, the Company is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. The Company's AFUDC rate used during both 2014 and 2013 was 8.09%. | ||||||||||||
Asset Retirement Obligations | ||||||||||||
The Company recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. The Company's AROs are primarily associated with its generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability on the Consolidated Balance Sheets. | ||||||||||||
Management's methodology to assess its legal obligation includes an inventory of assets by the Company's system and components and a review of rights-of-way and easements, regulatory orders, leases and federal, state and local environmental laws. Management identified legal obligations to retire generation plant assets specified in land leases for the Company's jointly-owned Navajo Generating Station and the Higgins Generating Station. Provisions of the lease require the lessees to remove the facilities upon request of the lessors at the expiration of the leases. Additionally, management has determined evaporative ponds, dry ash landfills, fuel storage tanks, asbestos and oils treated with Poly Chlorinated Biphenyl have met the requirements for an ARO. | ||||||||||||
Impairment | ||||||||||||
The Company evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As substantially all property, plant and equipment was used in regulated businesses as of December 31, 2014, the impacts of regulation are considered when evaluating the carrying value of regulated assets. | ||||||||||||
Income Taxes | ||||||||||||
Berkshire Hathaway commenced including the Company in its United States federal income tax return on December 20, 2013 in connection with the BHE Merger. Prior to December 20, 2013, the Company filed a consolidated United States federal income tax return with NV Energy. Consistent with established regulatory practice, the Company's provision for income taxes has been computed on a separate return basis. | ||||||||||||
Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using estimated income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities that are associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are associated with income tax benefits and expense for certain property‑related basis differences and other various differences that the Company is required to pass on to its customers are charged or credited directly to a regulatory asset or liability. As of December 31, 2014 and 2013, these amounts were recognized as regulatory assets of $156 million and $165 million, respectively, and regulatory liabilities of $3 million and $4 million, respectively, and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are generally deferred and amortized over the estimated useful lives of the related properties. | ||||||||||||
In determining the Company's income taxes, management is required to interpret complex income tax laws and regulations, which includes consideration of regulatory implications imposed by the Company's various regulatory jurisdictions. The Company's income tax returns are subject to continuous examinations by federal and local income tax authorities that may give rise to different interpretations of these complex laws and regulations. Due to the nature of the examination process, it generally takes years before these examinations are completed and these matters are resolved. The Company recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Although the ultimate resolution of the Company's federal and local income tax examinations is uncertain, the Company believes it has made adequate provisions for these income tax positions. The aggregate amount of any additional income tax liabilities that may result from these examinations, if any, is not expected to have a material impact on the Company's consolidated financial results. | ||||||||||||
Revenue Recognition | ||||||||||||
Revenue is recognized as electricity is delivered or services are provided. Revenue recognized includes billed and unbilled amounts. As of December 31, 2014 and 2013, unbilled revenue was $111 million and $103 million, respectively, and is included in accounts receivable, net on the Consolidated Balance Sheets. Rates are established by regulators or contractual arrangements. When preliminary rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. The Company records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. | ||||||||||||
The Company primarily buys energy and natural gas to satisfy its customer load requirements. Due to changes in retail customer load requirements, the Company may not take physical delivery of the energy or natural gas. The Company may sell the excess energy or natural gas to the wholesale market. In such instances, it is the Company's policy to record such sales net in cost of fuel, energy and capacity. | ||||||||||||
Unamortized Debt Premiums, Discounts and Financing Costs | ||||||||||||
Premiums, discounts and financing costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. | ||||||||||||
Segment Information | ||||||||||||
The Company currently has one segment, which includes its regulated electric utility operations. | ||||||||||||
New Accounting Pronouncements | ||||||||||||
In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, which creates FASB Accounting Standards Codification ("ASC") Topic 606, "Revenue from Contracts with Customers" and supersedes ASC Topic 605, "Revenue Recognition." The guidance replaces industry-specific guidance and establishes a single five-step model to identify and recognize revenue. The core principle of the guidance is that an entity should recognize revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. Additionally, the guidance requires the entity to disclose further quantitative and qualitative information regarding the nature and amount of revenues arising from contracts with customers, as well as other information about the significant judgments and estimates used in recognizing revenues from contracts with customers. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted. This guidance may be adopted retrospectively or under a modified retrospective method where the cumulative effect is recognized at the date of initial application. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. | ||||||||||||
In February 2013, the FASB issued ASU No. 2013-04, which amends FASB ASC Topic 405, "Liabilities." The amendments in this guidance require an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the amount the reporting entity agreed to pay plus any additional amounts the reporting entity expects to pay on behalf of its co-obligor. Additionally, the guidance requires the entity to disclose the nature and amount of the obligation, as well as other information about those obligations. The Company adopted this guidance on January 1, 2014. The adoption of this guidance did not have a material impact on the Company's disclosures included within Notes to Consolidated Financial Statements. |
MergerRelated_Activities_Notes
Merger-Related Activities (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Business Combinations [Abstract] | |
Merger-Related Activities | Merger-Related Activities |
On December 17, 2013, the PUCN approved the Joint Application related to the BHE Merger filed by BHE and NV Energy, subject to certain stipulations. The stipulations included, among others, a one-time bill credit to retail customers of the Company of $15 million credited to retail customers over one billing cycle beginning within 30 days of the close of the BHE Merger. The bill credit was included as a reduction to operating revenue on the Consolidated Statements of Operations for the year ended December 31, 2013. | |
The Company incurred costs totaling $52 million related to the BHE Merger, consisting of: (i) $15 million for amounts payable under NV Energy's change in control policy; (ii) $18 million for accelerated vesting and stock compensation under NV Energy's long-term incentive plan; (iii) $15 million for investment banker fees paid by NV Energy and (iv) $4 million for legal and other expenses. The costs were included in merger-related expenses on the Consolidated Statements of Operations for the year ended December 31, 2013. |
Property_Plant_and_Equipment_N
Property, Plant and Equipment, Net (Notes) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Property, Plant and Equipment, Net [Abstract] | ||||||||||
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net | |||||||||
Property, plant and equipment, net consists of the following as of December 31 (in millions): | ||||||||||
Depreciable Life | 2014 | 2013 | ||||||||
Utility plant in-service: | ||||||||||
Generation | 25 - 80 years | $ | 4,034 | $ | 3,789 | |||||
Distribution | 20 - 65 years | 3,018 | 2,936 | |||||||
Transmission | 45 - 65 years | 1,757 | 1,743 | |||||||
General intangible plant | 5 - 65 years | 669 | 645 | |||||||
Utility plant in-service | 9,478 | 9,113 | ||||||||
Accumulated depreciation and amortization | (2,599 | ) | (2,217 | ) | ||||||
Utility plant in-service, net | 6,879 | 6,896 | ||||||||
Other non-regulated, net of accumulated depreciation and amortization | 5 - 65 years | 4 | 3 | |||||||
6,883 | 6,899 | |||||||||
Construction work-in-progress | 120 | 93 | ||||||||
Property, plant and equipment, net | $ | 7,003 | $ | 6,992 | ||||||
Almost all of the Company's plant is subject to the ratemaking jurisdiction of the PUCN and the FERC. The Company's depreciation and amortization expense, as authorized by the PUCN, stated as a percentage of the depreciable property balances as of December 31, 2014, 2013 and 2012 were 3.3%, 3.3% and 3.2%, respectively. The Company is required to file a utility plant depreciation study every six years as a companion filing with the triennial general rate case filings. | ||||||||||
Construction work-in-progress is related to the construction of regulated assets. | ||||||||||
Impairment of Regulated Assets Not In Rates | ||||||||||
The Company recorded an impairment charge of $29 million and $31 million in operating and maintenance on the Consolidated Statements of Operations for the years ended December 31, 2014 and 2013, respectively, related to the recovery of certain assets not currently in rates. Included in the 2014 impairment is $19 million related to the settlement of the 2014 general rate case. | ||||||||||
In March 2012, the Company filed a petition with the PUCN to obtain a declaratory order and the accounting guidance necessary to establish a regulatory account for the gain on sale of the Company's telecommunication towers to Global Tower Partners, LLC. In July 2012, the PUCN approved a stipulation between the Company, the BCP, and PUCN staff that provides for an allocation of $27 million of the $32 million gain on sale to the ratepayers. The amortization of the gain will coincide with the rate effective date of January 1, 2015. The Company recorded $6 million, including an adjustment to previously recorded carrying charges, to other, net on the Consolidated Statements of Operations for the remaining balance of the gain on sale for the year ended December 31, 2012. |
Jointly_Owned_Utility_Faciliti
Jointly Owned Utility Facilities (Notes) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Jointly Owned Utility Plant, Net Ownership Amount [Abstract] | ||||||||||||||
Jointly Owned Utility Facilities | Jointly Owned Utility Facilities | |||||||||||||
Under joint facility ownership agreements, the Company, as tenants in common, has undivided interests in jointly owned generation and transmission facilities. The Company accounts for its proportionate share of each facility and each joint owner has provided financing for its share of each facility. Operating costs of each facility are assigned to joint owners based on their percentage of ownership or energy production, depending on the nature of the cost. Operating costs and expenses on the Consolidated Statements of Operations include the Company's share of the expenses of these facilities. The amounts shown in the table below represent the Company's share in each jointly owned facility as of December 31, 2014 (dollars in millions): | ||||||||||||||
Construction | ||||||||||||||
Company | Facility In | Accumulated | Work-in- | |||||||||||
Share | Service | Depreciation | Progress | |||||||||||
Silverhawk Generating Station | 75% | $ | 241 | $ | 55 | $ | 5 | |||||||
Navajo Generating Station | 11 | 198 | 135 | 2 | ||||||||||
ON Line Transmission Line(1) | 24 | 142 | 3 | 1 | ||||||||||
Other Transmission Facilities | Various | 68 | 27 | — | ||||||||||
Total | $ | 649 | $ | 220 | $ | 8 | ||||||||
-1 | ON Line, a 500-kilovolt transmission line connecting the Company and Sierra Pacific, was placed in-service December 2013. The Company and Sierra Pacific entered into a long-term transmission use agreement, in which the Company and Sierra Pacific have 25% interest and Great Basin Transmission South, LLC has 75% interest. Refer to Note 8 for additional information. |
Regulatory_Matters_Notes
Regulatory Matters (Notes) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Regulatory Assets and Liabilities Disclosure [Abstract] | ||||||||||
Regulatory Matters | Regulatory Matters | |||||||||
Regulatory assets represent costs that are expected to be recovered in future rates. The Company's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): | ||||||||||
Weighted | ||||||||||
Average | ||||||||||
Remaining Life | 2014 | 2013 | ||||||||
Deferred income taxes(1) | 29 years | $ | 156 | $ | 165 | |||||
Merger costs from 1999 merger | 29 years | 149 | 155 | |||||||
Deferred excess energy costs | 2 years | 129 | 159 | |||||||
Decommissioning costs | 8 years | 113 | 25 | |||||||
Abandoned projects | 5 years | 107 | 115 | |||||||
Employee benefit plans(2) | 10 years | 85 | 83 | |||||||
Asset retirement obligations | 7 years | 80 | 98 | |||||||
Legacy meters | 18 years | 68 | 65 | |||||||
Deferred operating costs | 28 years | 61 | 63 | |||||||
Demand side resources | 3 years | 41 | 70 | |||||||
ON Line | 39 years | 38 | — | |||||||
Loss on reacquired debt | 19 years | 33 | 35 | |||||||
Unrealized loss on regulated derivative contracts | 3 years | 30 | 47 | |||||||
Other | Various | 36 | 58 | |||||||
Total regulatory assets | $ | 1,126 | $ | 1,138 | ||||||
Reflected as: | ||||||||||
Current assets | $ | 57 | $ | 81 | ||||||
Other assets | 1,069 | 1,057 | ||||||||
Total regulatory assets | $ | 1,126 | $ | 1,138 | ||||||
-1 | Amounts represent income tax benefits related to accelerated tax depreciation and certain property-related basis differences that were previously flowed through to customers and will be included in regulated rates when the temporary differences reverse. | |||||||||
-2 | Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. | |||||||||
The Company had regulatory assets not earning a return on investment of $788 million and $598 million as of December 31, 2014 and 2013, respectively, primarily related to deferred income taxes, merger costs from 1999 merger, a portion of abandoned projects and deferred excess energy costs, asset retirement obligations, legacy meters, deferred operating costs, loss on reacquired debt and unrealized loss on regulated derivative contracts. | ||||||||||
Regulatory liabilities represent income to be recognized or amounts to be returned to customers in future periods. The Company's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): | ||||||||||
Weighted | ||||||||||
Average | ||||||||||
Remaining Life | 2014 | 2013 | ||||||||
Cost of removal(1) | 36 years | $ | 295 | $ | 273 | |||||
Energy efficiency program | 1 year | 25 | 57 | |||||||
Renewable energy program | 1 year | 15 | 18 | |||||||
Other | Various | 31 | 38 | |||||||
Total regulatory liabilities | $ | 366 | $ | 386 | ||||||
Reflected as: | ||||||||||
Current liabilities | $ | 40 | $ | 74 | ||||||
Other long-term liabilities | 326 | 312 | ||||||||
Total regulatory liabilities | $ | 366 | $ | 386 | ||||||
-1 | Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. | |||||||||
Deferred Energy | ||||||||||
Nevada statutes permit regulated utilities to adopt deferred energy accounting procedures. The intent of these procedures is to ease the effect on customers of fluctuations in the cost of purchased natural gas, fuel and electricity and are subject to annual prudency review by the PUCN. | ||||||||||
Under deferred energy accounting, to the extent actual fuel and purchased power costs exceed fuel and purchased power costs recoverable through current rates that excess is not recorded as a current expense on the Consolidated Statements of Operations but rather is deferred and recorded as a regulatory asset on the Consolidated Balance Sheets and is included in the table above as deferred excess energy costs. Conversely, a regulatory liability is recorded to the extent fuel and purchased power costs recoverable through current rates exceed actual fuel and purchased power costs and is included in the table above as deferred energy over collected. These excess amounts are reflected in quarterly adjustments to rates and recorded as cost of fuel, energy and capacity in future time periods. | ||||||||||
Energy Efficiency Implementation Rates and Energy Efficiency Program Rates | ||||||||||
In July 2010, regulations were adopted by the PUCN that authorizes an electric utility to recover lost revenue that is attributable to the measurable and verifiable effects associated with the implementation of efficiency and conservation programs approved by the PUCN through energy efficiency implementation rates ("EEIR"). As a result, the Company files annually in March to adjust energy efficiency program rates and EEIR for over- or under-collected balances, which are effective in October of the same year. | ||||||||||
In March 2013, the Company filed applications with the PUCN for the twelve-month period ended December 31, 2012 to reset EEIR elements. In September 2013, the PUCN issued an order indicating that EEIR revenue should not contribute to the Company earning more than its authorized rate of return. As the Company earned in excess of its authorized rate of return in 2012, the PUCN disallowed approximately $11 million in EEIR revenue (including carrying charges) and the Company recorded a charge to operating and maintenance on the Consolidated Statements of Operations for the year ended December 31, 2013. | ||||||||||
The PUCN's final order approving the BHE Merger stipulated that the Company will not seek recovery of any lost revenue for calendar year 2013 and, for the calendar year 2014 in an amount that exceeds 50% of the lost revenue that the Company could otherwise request. As a result, for the year ended December 31, 2013, the Company has not recorded revenue for EEIR and has recorded a regulatory liability to refund to customers amounts collected in 2013 of $12 million, which is included in current regulatory liabilities on the Consolidated Balance Sheets as of December 31, 2013. In February 2014, the Company filed an application with the PUCN to reset the EEIR and energy efficiency program rates. In June 2014, the PUCN accepted a stipulation to adjust the EEIR, as of July 1, 2014, to collect 50% of the estimated lost revenue that the Company would otherwise be allowed to recover for the 2014 calendar year. The EEIR was effective from July through December 2014 and will reset on January 1, 2015 and remain in effect through September 2015. To the extent the Company's earned rate of return exceeds the rate of return used to set base general rates, the Company is required to refund to customers EEIR revenue collected. As a result, the Company has deferred recognition of EEIR revenue collected and has recorded a liability of $11 million, which is included in current regulatory liabilities on the Consolidated Balance Sheets as of December 31, 2014. | ||||||||||
General Rate Case | ||||||||||
In May 2014, the Company filed a general rate case with the PUCN. In July 2014, the Company made its certification filing, which requested incremental annual revenue relief in the amount of $38 million, or an average price increase of 2%. In October 2014, the Company reached a settlement agreement with certain parties agreeing to a zero increase in the revenue requirement. In October 2014, the PUCN issued an order in the general rate case filing that accepted the settlement. The order provides for increases in the fixed-monthly service charge for customers with a corresponding decrease in the base tariff general rate effective January 1, 2015. As a result of the order, the Company recorded $15 million in asset impairments related to property, plant and equipment and $5 million of regulatory asset impairments, which are included in operating and maintenance on the Consolidated Statements of Operations for the year ended December 31, 2014. Additionally, the Company recorded a $5 million gain in other, net on the Consolidated Statement of Operations for the year ended December 31, 2014 related to the disposition of property. In October 2014, a party filed a petition for reconsideration of the PUCN order. In November 2014, the PUCN granted the petition for reconsideration and reaffirmed the order issued in October 2014. | ||||||||||
2013 FERC Transmission Rate Case | ||||||||||
In May 2013, the Company, along with Sierra Pacific, filed an application with the FERC to establish single system transmission and ancillary service rates. The combined filing requested incremental rate relief of $17 million annually to be effective January 1, 2014. In August 2013, the FERC granted the companies' request for a rate effective date of January 1, 2014 subject to refund, and set the case for hearing or settlement discussions. On January 1, 2014, the Company implemented the filed rates in this case subject to refund as set forth in the FERC's order. | ||||||||||
In September 2014, the Company, along with Sierra Pacific, filed an unopposed settlement offer with the FERC on behalf of NV Energy and the intervening parties providing rate relief of $4 million. The settlement offer would resolve all outstanding issues related to this case. In addition, a preliminary order from the administrative law judge granting the motion for interim rate relief was issued, which authorizes the Company to institute the interim rates effective September 1, 2014, and begin billing transmission customers under the settlement rates for service provided on and after that date. In January 2015, the FERC approved the settlement and refunds will be processed in 2015. As of December 31, 2014, the Company accrued $7 million for amounts subject to rate refund, which is included in other current liabilities on the Consolidated Balance Sheets. |
Credit_Facility_Notes
Credit Facility (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Line of Credit Facility [Abstract] | |
Short-term Debt and Credit Facilities | Credit Facility |
The Company has a $400 million secured credit facility expiring in March 2018. The credit facility, which is for general corporate purposes for the issuance of letters of credit, has a variable interest rate based on London Interbank Offered Rate ("LIBOR") or a base rate, at the Company's option, plus a spread that varies based on the Company's credit ratings for its senior secured long‑term debt securities. As of December 31, 2014 and 2013, the Company had no borrowings outstanding under the credit facility. Amounts due under the Company's credit facility are collateralized by the Company's general and refunding mortgage bonds. The credit facility requires the Company's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.68 to 1.0 as of the last day of each quarter. |
LongTerm_Debt_Notes
Long-Term Debt (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Debt Disclosure [Abstract] | |||||||||||||
Long-Term Debt | Long-Term Debt | ||||||||||||
The Company's long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions): | |||||||||||||
Par Value | 2014 | 2013 | |||||||||||
General and Refunding Mortgage Securities: | |||||||||||||
5.875% Series L, due 2015 | $ | 250 | $ | 250 | $ | 250 | |||||||
5.950% Series M, due 2016 | 210 | 210 | 210 | ||||||||||
6.500% Series O, due 2018 | 325 | 323 | 324 | ||||||||||
6.500% Series S, due 2018 | 499 | 498 | 499 | ||||||||||
7.125% Series V, due 2019 | 500 | 501 | 501 | ||||||||||
6.650% Series N, due 2036 | 367 | 361 | 363 | ||||||||||
6.750% Series R, due 2037 | 349 | 348 | 349 | ||||||||||
5.375% Series X, due 2040 | 250 | 249 | 249 | ||||||||||
5.450% Series Y, due 2041 | 250 | 250 | 250 | ||||||||||
Variable-rate series (2014-0.455% to 0.464%, 2013-0.454% to 0.459%): | |||||||||||||
Pollution Control Revenue Bonds Series 2006A, due 2032 | 38 | 38 | 38 | ||||||||||
Pollution Control Revenue Bonds Series 2006, due 2036 | 38 | 38 | 38 | ||||||||||
Capital and financial lease obligations - 2.750% to 11.600%, due through 2054 | 510 | 510 | 506 | ||||||||||
Total long-term debt | $ | 3,586 | $ | 3,576 | $ | 3,577 | |||||||
Reflected as: | |||||||||||||
Current portion of long-term debt | $ | 264 | $ | 22 | |||||||||
Long-term debt | 3,312 | 3,555 | |||||||||||
Total long-term debt | $ | 3,576 | $ | 3,577 | |||||||||
The consummation of the BHE Merger also triggered mandatory redemption requirements under financing agreements of the Company. As a result, the Company offered to purchase $3.0 billion of debt at 101% of par. Debt with a par value totaling $5 million was tendered in January 2014 and paid with cash on hand. The tender offer expired in January 2014. | |||||||||||||
In November 2013, the Company issued a notice of redemption to the bondholders for its $125 million, 7.375% Series U General and Refunding Mortgage Securities. In December 2013, the Company redeemed the aggregate principal amount outstanding of $125 million at 100.7% of the principal amount plus accrued interest with the use of cash on hand. | |||||||||||||
In July 2013, the Company issued a notice of redemption to the bondholders for its $100 million Clark County Industrial Development Refunding Revenue Bonds, Series 2000A. In August 2013, the Company redeemed the aggregate principal amount outstanding of $98 million at 100% of the principal amount plus accrued interest with the use of cash on hand. | |||||||||||||
In April 2012, the Company used $120 million from its revolving credit facility along with $10 million of cash on hand to pay for the maturity of its 6.5% General and Refunding Mortgage Notes, Series I, in an aggregate principal amount of $130 million. | |||||||||||||
Annual Payment on Long-Term Debt | |||||||||||||
The annual repayments of long-term debt and capital and financial leases for the years beginning January 1, 2015 and thereafter, excluding unamortized premiums and discounts, are as follows (in millions): | |||||||||||||
Long-term | Capital and Financial | ||||||||||||
Debt | Lease Obligations | Total | |||||||||||
2015 | $ | 250 | $ | 75 | $ | 325 | |||||||
2016 | 210 | 73 | 283 | ||||||||||
2017 | — | 75 | 75 | ||||||||||
2018 | 823 | 74 | 897 | ||||||||||
2019 | 500 | 76 | 576 | ||||||||||
Thereafter | 1,291 | 986 | 2,277 | ||||||||||
Total | 3,074 | 1,359 | 4,433 | ||||||||||
Unamortized discount | (8 | ) | — | (8 | ) | ||||||||
Executory costs | — | (148 | ) | (148 | ) | ||||||||
Amounts representing interest | — | (701 | ) | (701 | ) | ||||||||
Total | $ | 3,066 | $ | 510 | $ | 3,576 | |||||||
Utility plant of $3.5 billion is subject to the liens of the Company's indentures under which its respective General and Refunding Mortgage Securities are issued. | |||||||||||||
Capital and Financial Lease Obligations | |||||||||||||
• | In 1984, the Company entered into a 30-year capital lease for the Pearson Building with five, five-year renewal options beginning in year 2015. In February 2010, the Company amended this capital lease agreement to include the lease of the adjoining parking lot and to exercise three of the five-year renewal options beginning in year 2015. There remain two additional renewal options which could extend the lease an additional ten years. Capital assets of $28 million and $39 million were included in property, plant and equipment, net as of December 31, 2014 and 2013, respectively. | ||||||||||||
• | In 2007, the Company entered into a 20-year lease, with three 10-year renewal options, to occupy land and building for its Beltway Complex operations center in southern Nevada. The Company accounts for the building portion of the lease as a capital lease and the land portion of the lease as an operating lease. The Company transferred operations to the facilities in June 2009. Capital assets of $8 million and $10 million were included in property, plant and equipment, net as of December 31, 2014 and 2013, respectively. | ||||||||||||
• | The Company has long-term energy purchase contracts which qualify as capital leases. The leases were entered into between the years 1989 and 1990 and firm operation occurred through 1993. The terms of the leases are for 30 years and expire between the years 2022-2023. Capital assets of $71 million were included in property, plant and equipment, gross as of December 31, 2014 and 2013. Capital assets of $44 million and $45 million were included in property, plant and equipment, net as of December 31, 2014 and 2013, respectively. | ||||||||||||
• | The Company has master leasing agreements of which various pieces of equipment qualify as capital leases. The remaining equipment is treated as operating leases. Lease terms average seven years under the master lease agreement. Capital assets of $1 million were included in property, plant and equipment, net as of December 31, 2014 and 2013. | ||||||||||||
• | ON Line was placed in-service on December 31, 2013. The Company and Sierra Pacific entered into a long-term transmission use agreement, in which the Company and Sierra Pacific have 25% interest and Great Basin Transmission South, LLC has 75% interest. Refer to Note 5 for additional information. The Company's and Sierra Pacific's share of the long-term transmission use agreement and ownership interest is split at 95% and 5%, respectively. The term is for 41 years with the agreement ending December 31, 2054. Payments began on January 31, 2014. ON Line assets of $418 million and $419 million were included in property, plant and equipment, net as of December 31, 2014 and 2013, respectively. |
Risk_Management_Notes
Risk Management (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||
Risk Management | Risk Management and Hedging Activities | ||||||||||||
The Company is exposed to the impact of market fluctuations in commodity prices and interest rates. The Company is principally exposed to electricity, natural gas and coal market fluctuations primarily through the Company's obligation to serve retail customer load in its regulated service territory. The Company's load and generating facilities represent substantial underlying commodity positions. Exposures to commodity prices consist mainly of variations in the price of fuel required to generate electricity and wholesale electricity that is purchased and sold. Commodity prices are subject to wide price swings as supply and demand are impacted by, among many other unpredictable items, weather, market liquidity, generating facility availability, customer usage, storage, and transmission and transportation constraints. The actual cost of fuel and purchased power is recoverable through the deferred energy mechanism. Interest rate risk exists on variable-rate debt and future debt issuances. The Company does not engage in proprietary trading activities. | |||||||||||||
The Company has established a risk management process that is designed to identify, assess, monitor, report, manage and mitigate each of the various types of risk involved in its business. To mitigate a portion of its commodity price risk, the Company uses commodity derivative contracts, which may include forwards, futures, options, swaps and other agreements, to effectively secure future supply or sell future production generally at fixed prices. The Company manages its interest rate risk by limiting its exposure to variable interest rates primarily through the issuance of fixed‑rate long-term debt and by monitoring market changes in interest rates. Additionally, the Company may from time to time enter into interest rate derivative contracts, such as interest rate swaps or locks, to mitigate the Company's exposure to interest rate risk. The Company does not hedge all of its commodity price and interest rate risks, thereby exposing the unhedged portion to changes in market prices. | |||||||||||||
There have been no significant changes in the Company's accounting policies related to derivatives. Refer to Notes 2, 9 and 10 for additional information on derivative contracts. | |||||||||||||
The following table, which excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of the Company's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Consolidated Balance Sheets (in millions): | |||||||||||||
Other | Other | ||||||||||||
Current | Long-term | ||||||||||||
Liabilities | Liabilities | Total | |||||||||||
As of December 31, 2014 | |||||||||||||
Commodity liabilities(1) | $ | (9 | ) | $ | (21 | ) | $ | (30 | ) | ||||
As of December 31, 2013 | |||||||||||||
Commodity liabilities(1) | $ | (9 | ) | $ | (38 | ) | $ | (47 | ) | ||||
-1 | The Company's commodity derivatives not designated as hedging contracts are included in regulated rates and as of December 31, 2014 and 2013, a regulatory asset of $30 million and $47 million, respectively, was recorded related to the derivative liability of $30 million and $47 million, respectively. | ||||||||||||
Derivative Contract Volumes | |||||||||||||
The following table summarizes the net notional amounts of outstanding derivative contracts with indexed and fixed price terms that comprise the mark-to-market values as of December 31 (in millions): | |||||||||||||
Unit of | |||||||||||||
Measure | 2014 | 2013 | |||||||||||
Electricity sales | Megawatt hours | (3 | ) | (4 | ) | ||||||||
Natural gas purchases | Decatherms | 115 | 118 | ||||||||||
Credit Risk | |||||||||||||
The Company is exposed to counterparty credit risk associated with wholesale energy supply and marketing activities with other utilities, energy marketing companies, financial institutions and other market participants. Credit risk may be concentrated to the extent the Company's counterparties have similar economic, industry or other characteristics and due to direct and indirect relationships among the counterparties. Before entering into a transaction, the Company analyzes the financial condition of each significant wholesale counterparty, establish limits on the amount of unsecured credit to be extended to each counterparty and evaluate the appropriateness of unsecured credit limits on an ongoing basis. To further mitigate wholesale counterparty credit risk, the Company enters into netting and collateral arrangements that may include margining and cross-product netting agreements and obtain third-party guarantees, letters of credit and cash deposits. If required, the Company exercises rights under these arrangements, including calling on the counterparty's credit support arrangement. | |||||||||||||
Collateral and Contingent Features | |||||||||||||
In accordance with industry practice, certain wholesale derivative contracts contain credit support provisions that in part base certain collateral requirements on credit ratings for unsecured debt as reported by one or more of the three recognized credit rating agencies. These derivative contracts may either specifically provide rights to demand cash or other security in the event of a credit rating downgrade ("credit-risk-related contingent features") or provide the right for counterparties to demand "adequate assurance," in the event of a material adverse change in creditworthiness. These rights can vary by contract and by counterparty. As of December 31, 2014, credit ratings from the three recognized credit rating agencies were investment grade. | |||||||||||||
The aggregate fair value of the Company's derivative contracts in liability positions with specific credit-risk-related contingent features was $4 million, which represents the amount of collateral to be posted if all credit risk related contingent features for derivative contracts in liability positions had been triggered. The Company's collateral requirements could fluctuate considerably due to market price volatility, changes in credit ratings, changes in legislation or regulation or other factors. |
Fair_Value_Measurements_Notes
Fair Value Measurements (Notes) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Fair Value of Financial Instruments | Fair Value Measurements | |||||||||||||||
The carrying value of the Company's cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. The Company has various financial assets and liabilities that are measured at fair value on the Consolidated Balance Sheets using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: | ||||||||||||||||
• | Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. | |||||||||||||||
• | Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). | |||||||||||||||
• | Level 3 - Unobservable inputs reflect the Company's judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. The Company develops these inputs based on the best information available, including its own data. | |||||||||||||||
The following table presents the Company's assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): | ||||||||||||||||
Input Levels for Fair Value Measurements | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
As of December 31, 2014 | ||||||||||||||||
Assets - investment funds | $ | 20 | $ | — | $ | — | $ | 20 | ||||||||
Liabilities - commodity derivatives | $ | — | $ | — | $ | (30 | ) | $ | (30 | ) | ||||||
As of December 31, 2013 | ||||||||||||||||
Assets: | ||||||||||||||||
Money market mutual funds(1) | $ | 50 | $ | — | $ | — | $ | 50 | ||||||||
Investment funds | 22 | — | — | 22 | ||||||||||||
$ | 72 | $ | — | $ | — | $ | 72 | |||||||||
Liabilities - commodity derivatives | $ | — | $ | — | $ | (47 | ) | $ | (47 | ) | ||||||
-1 | Amounts are included in other assets on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost. | |||||||||||||||
Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. When available, the fair value of derivative contracts is estimated using unadjusted quoted prices for identical contracts in the market in which the Company transacts. When quoted prices for identical contracts are not available, the Company uses forward price curves. Forward price curves represent the Company's estimates of the prices at which a buyer or seller could contract today for delivery or settlement at future dates. The Company bases its forward price curves upon market price quotations, when available, or internally developed and commercial models, with internal and external fundamental data inputs. Market price quotations are obtained from independent brokers, exchanges, direct communication with market participants and actual transactions executed by the Company. Market price quotations are generally readily obtainable for the applicable term of the Company's outstanding derivative contracts; therefore, the Company's forward price curves reflect observable market quotes. Market price quotations for certain electricity and natural gas trading hubs are not as readily obtainable due to the length of the contract. Given that limited market data exists for these contracts, as well as for those contracts that are not actively traded, the Company uses forward price curves derived from internal models based on perceived pricing relationships to major trading hubs that are based on unobservable inputs. The model incorporates a mid-market pricing convention (the mid‑point price between bid and ask prices) as a practical expedient for valuing its assets and liabilities measured and reported at fair value. Interest rate swaps are valued using a financial model which utilizes observable inputs for similar instruments based primarily on market price curves. The determination of the fair value for derivative contracts not only includes counterparty risk, but also the impact of the Company's nonperformance risk on its liabilities, which as of December 31, 2014, had an immaterial impact to the fair value of its derivative contracts. As such, the Company considers its derivative contracts to be valued using Level 3 inputs. Refer to Note 9 for further discussion regarding the Company's risk management and hedging activities. | ||||||||||||||||
The Company's investments in money market mutual funds and equity securities are accounted for as available-for-sale securities and are stated at fair value. When available, a readily observable quoted market price or net asset value of an identical security in an active market is used to record the fair value. | ||||||||||||||||
The following table reconciles the beginning and ending balances of the Company's commodity derivative liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions): | ||||||||||||||||
2014 | ||||||||||||||||
Beginning balance | $ | (47 | ) | |||||||||||||
Changes in fair value recognized in regulatory assets | 9 | |||||||||||||||
Purchases | — | |||||||||||||||
Settlements | 8 | |||||||||||||||
Ending balance | $ | (30 | ) | |||||||||||||
The Company's long-term debt is carried at cost on the Consolidated Balance Sheets. The fair value of the Company's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of the Company's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of the Company's long-term debt as of December 31 (in millions): | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Value | Value | Value | Value | |||||||||||||
Long-term debt | $ | 3,066 | $ | 3,712 | $ | 3,071 | $ | 3,596 | ||||||||
Other_Net_Notes
Other, Net (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Nonoperating Income (Expense) [Abstract] | ||||||||||||
Other, Net | Other, Net | |||||||||||
Other, net as shown on the Consolidated Statements of Operations for the years ended December 31 consists of the following (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Interest and dividend income | $ | 2 | $ | 5 | $ | 4 | ||||||
Donations | — | — | (2 | ) | ||||||||
Interest expense on regulatory items | 6 | (2 | ) | (7 | ) | |||||||
Other | 14 | 2 | 2 | |||||||||
Total other, net | $ | 22 | $ | 5 | $ | (3 | ) | |||||
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Taxes | Income Taxes | |||||||||||
Income tax expense (benefit) consists of the following for the years ended December 31 (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current – Federal | $ | — | $ | (1 | ) | $ | (12 | ) | ||||
Deferred – Federal | 131 | 96 | 151 | |||||||||
Investment tax credits | (1 | ) | (1 | ) | (1 | ) | ||||||
Total income tax expense | $ | 130 | $ | 94 | $ | 138 | ||||||
A reconciliation of the federal statutory income rate to the effective income tax rate applicable to income before income tax expense is as follows for the years ended December 31: | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Federal statutory income tax rate | 35 | % | 35 | % | 35 | % | ||||||
Non-deductible BHE Merger related expenses | — | 3 | — | |||||||||
Effects of ratemaking | 1 | 1 | 1 | |||||||||
Other | — | — | (1 | ) | ||||||||
Effective income tax rate | 36 | % | 39 | % | 35 | % | ||||||
The net deferred income tax liability consists of the following as of December 31 (in millions): | ||||||||||||
2014 | 2013 | |||||||||||
Deferred income tax assets: | ||||||||||||
Federal net operating loss and credit carryforwards | $ | 158 | $ | 265 | ||||||||
Capital and financial leases | 178 | 177 | ||||||||||
Employee benefits | 22 | 11 | ||||||||||
Regulatory liabilities | 37 | 4 | ||||||||||
Other | 57 | 85 | ||||||||||
Total deferred income tax assets | 452 | 542 | ||||||||||
Valuation allowance | (2 | ) | (2 | ) | ||||||||
Total deferred income tax assets, net | 450 | 540 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Property related items | (1,175 | ) | (1,145 | ) | ||||||||
Regulatory assets | (341 | ) | (314 | ) | ||||||||
Capital and financial leases | (174 | ) | (189 | ) | ||||||||
Other | (29 | ) | (38 | ) | ||||||||
Total deferred income tax liabilities | (1,719 | ) | (1,686 | ) | ||||||||
Net deferred income tax liability | $ | (1,269 | ) | $ | (1,146 | ) | ||||||
Reflected as: | ||||||||||||
Deferred income taxes - current asset | $ | 145 | $ | 152 | ||||||||
Deferred income taxes - long-term liability | (1,414 | ) | (1,298 | ) | ||||||||
Net deferred income tax liability | $ | (1,269 | ) | $ | (1,146 | ) | ||||||
The following table provides the Company's federal net operating loss and tax credit carryforwards and expiration dates as of December 31, 2014 (in millions): | ||||||||||||
Net operating loss carryforwards | $ | 420 | ||||||||||
Deferred income taxes on federal net operating loss carryforwards | $ | 147 | ||||||||||
Expiration dates | 2030-2034 | |||||||||||
Other tax credits | $ | 11 | ||||||||||
Expiration dates | 2015-2033 | |||||||||||
The United States federal jurisdiction is the only significant income tax jurisdiction for NV Energy. In July 2012, the United States Internal Revenue Service and the Joint Committee on Taxation concluded their examination of NV Energy with respect to its United States federal income tax returns for December 31, 2005 through December 31, 2008. | ||||||||||||
A reconciliation of the beginning and ending balances of the Company's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): | ||||||||||||
2014 | 2013 | |||||||||||
Beginning balance | $ | 3 | $ | 4 | ||||||||
Additions for tax positions of prior years | — | — | ||||||||||
Reductions for tax positions of prior years | — | (1 | ) | |||||||||
Ending balance | $ | 3 | $ | 3 | ||||||||
As of December 31, 2014 and 2013, the Company had unrecognized tax benefits totaling $2 million that, if recognized, would have an impact on the effective tax rate. The remaining unrecognized tax benefits relate to tax positions for which ultimate deductibility is highly certain but for which there is uncertainty as to the timing of such deductibility. Recognition of these tax benefits, other than applicable interest and penalties, would not affect the Company's effective income tax rate. |
RelatedParty_Transactions_Note
Related-Party Transactions (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure | Related Party Transactions |
Kern River Gas Transmission Company, an indirect subsidiary of BHE, provided natural gas transportation and other services to the Company of $68 million, $68 million and $66 million for the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014 and 2013, the Company's Consolidated Balance Sheets included amounts due to Kern River Gas Transmission Company of $5 million. | |
The Company's accounts receivable, net as of December 31, 2013 included $2 million for amounts due from BHE for merger related reimbursements, which were received in 2014. | |
The Company provided electricity and other services to PacifiCorp, an indirect subsidiary of BHE, of $3 million, $3 million and $7 million for the years ended December 31, 2014, 2013 and 2012, respectively. There were no receivables associated with these services as of December 31, 2014 and 2013. PacifiCorp provided electricity and the sale of renewable energy credits to the Company of $5 million, $2 million and $62 million for the years ended December 31, 2014, 2013 and 2012, respectively. Payables associated with these transactions were $4 million and $- million as of December 31, 2014 and 2013, respectively. | |
The Company provided electricity to Sierra Pacific of $33 million, $36 million and $20 million for the years ended December 31, 2014, 2013 and 2012, respectively. Receivables associated with these transactions were $7 million and $3 million as of December 31, 2014 and 2013, respectively. The Company purchased electricity from Sierra Pacific of $8 million, $1 million and $1 million for the years ended December 31, 2014, 2013 and 2012, respectively. There were no associated payables as of December 31, 2014 and 2013. | |
The Company incurs intercompany administrative and shared facility costs between NV Energy and Sierra Pacific. These transactions are governed by an intercompany service agreement and are priced at cost. The Company provided services to NV Energy of $1 million, $- million, and $1 million for the years ending December 31, 2014, 2013 and 2012, respectively. NV Energy provided services to the Company of $19 million, $45 million and $27 million for the years ending December 31, 2014, 2013 and 2012, respectively. The Company provided services to Sierra Pacific of $20 million, $24 million and $20 million for the years ended December 31, 2014, 2013 and 2012, respectively. Sierra Pacific provided services to the Company of $16 million, $22 million and $22 million for the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014 and 2013, the Company's Consolidated Balance Sheets included amounts due to NV Energy of $33 million and $60 million, respectively. As of December 31, 2014 and 2013, the Company's Consolidated Balance Sheets included receivables due from Sierra Pacific of $5 million and $6 million, respectively. | |
Certain disbursements for accounts payable and payroll are made by NV Energy on behalf of the Company and reimbursed automatically when settled by the bank. These amounts are recorded as accounts payable at the time of disbursement. |
Retirement_Plan_and_Postretire
Retirement Plan and Postretirement Benefits (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||
Retirement Plan and Postretirement Benefits | Retirement Plan and Postretirement Benefits | |||||||
The Company is a participant in benefit plans sponsored by NV Energy. The NV Energy Retirement Plan includes a qualified pension plan ("Qualified Pension Plan") and a supplemental executive retirement plan and a restoration plan (collectively, "Non‑Qualified Pension Plans") that provide pension benefits for eligible employees. The NV Energy Comprehensive Welfare Benefit and Cafeteria Plan provides certain postretirement health care and life insurance benefits for eligible retirees ("Other Postretirement Plans") on behalf of the Company. The Company did not make any contributions to the Qualified Pension Plan, Non‑Qualified Pension Plans or Other Postretirement Plans for the years ended December 31, 2014, 2013 and 2012. Amounts attributable to the Company were allocated from NV Energy based upon the current, or in the case of retirees, previous, employment location. Offsetting regulatory assets and liabilities have been recorded related to the amounts not yet recognized as a component of net periodic benefit costs that will be included in regulated rates. Net periodic benefit costs not included in regulated rates are included in accumulated other comprehensive income (loss). | ||||||||
Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following as of December 31(in millions): | ||||||||
2014 | 2013 | |||||||
Qualified Pension Plan: | ||||||||
Other assets | $ | — | $ | 13 | ||||
Other long-term liabilities | (23 | ) | — | |||||
Non-Qualified Pension Plans: | ||||||||
Other current liabilities | (1 | ) | (4 | ) | ||||
Other long-term liabilities | (9 | ) | (8 | ) | ||||
Other Postretirement Plans - | ||||||||
Other long-term liabilities | 1 | (7 | ) | |||||
Asset_Retirement_Obligations_N
Asset Retirement Obligations (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ||||||||
Asset Retirement Obligations | Asset Retirement Obligations | |||||||
The Company estimates its ARO liabilities based upon detailed engineering calculations of the amount and timing of the future cash spending for a third party to perform the required work. Spending estimates are escalated for inflation and then discounted at a credit-adjusted, risk-free rate. Changes in estimates could occur for a number of reasons, including changes in laws and regulations, plan revisions, inflation and changes in the amount and timing of the expected work. | ||||||||
The Company does not recognize liabilities for AROs for which the fair value cannot be reasonably estimated. Due to the indeterminate removal date, the fair value of the associated liabilities on certain generation, transmission, distribution and other assets cannot currently be estimated, and no amounts are recognized on the Consolidated Financial Statements other than those included in the cost of removal regulatory liability established via approved depreciation rates in accordance with accepted regulatory practices. These accruals totaled $295 million and $273 million as of December 31, 2014 and 2013, respectively. | ||||||||
The following table presents the Company's ARO liabilities by asset type as of December 31 (in millions): | ||||||||
2014 | 2013 | |||||||
Evaporative ponds and dry ash landfills | $ | 25 | $ | 48 | ||||
Waste water remediation | 53 | 36 | ||||||
Asbestos | 3 | 4 | ||||||
Other | 5 | 12 | ||||||
Total asset retirement obligations | $ | 86 | $ | 100 | ||||
The following table reconciles the beginning and ending balances of the Company's ARO liabilities for the years ended December 31 (in millions): | ||||||||
2014 | 2013 | |||||||
Beginning balance | $ | 100 | $ | 60 | ||||
Change in estimated costs | (18 | ) | 37 | |||||
Accretion | 4 | 3 | ||||||
Ending balance | $ | 86 | $ | 100 | ||||
Reflected as: | ||||||||
Other current liabilities | $ | 14 | $ | — | ||||
Other long-term liabilities | 72 | 100 | ||||||
$ | 86 | $ | 100 | |||||
In 2008, the Company signed an administrative order of consent as owner and operator of Reid Gardner Generating Station Unit Nos. 1, 2 and 3 and as co-owner and operating agent of Unit No. 4. Based on the administrative order of consent, the Company recorded estimated AROs and capital remediation costs. However, actual costs of work under the administrative order of consent may vary significantly once the scope of work is defined and additional site characterization has been completed. In connection with the termination of the co-ownership arrangement, effective October 22, 2013, between the Company and California Department of Water Resources ("CDWR") for the Reid Gardner Generating Station Unit No. 4, the Company and CDWR entered into a cost-sharing agreement that sets forth how the parties will jointly share in costs associated with all investigation, characterization and, if necessary, remedial activities as required under the administrative order of consent. The 2014 and 2013 change in estimated costs was primarily related to refinement of expected remediation costs at the Reid Gardner Generating Station. | ||||||||
Certain of the Company's decommissioning and reclamation obligations relate to jointly-owned facilities, and as such, the Company is committed to pay a proportionate share of the decommissioning or reclamation costs. In the event of a default by any of the other joint participants, the respective subsidiary may be obligated to absorb, directly or by paying additional sums to the entity, a proportionate share of the defaulting party's liability. The Company's estimated share of the decommissioning and reclamation obligations are primarily recorded as ARO liabilities in other long-term liabilities on the Consolidated Balance Sheets. | ||||||||
In December 2014, the EPA released its final rule regulating the management and disposal of coal combustion byproducts resulting from the operation of coal-fueled generating facilities, including requirements for the operation and closure of surface impoundment and ash landfill facilities. The final rule will be effective 180 days after it is published in the Federal Register. Under the final rule, surface impoundments and landfills utilized for coal combustion byproducts may need to be closed unless they can meet the more stringent regulatory requirements. The Company is currently evaluating the requirements and costs of the new rule and cannot determine the impact on its ARO liabilities at this time. |
Commitments_and_Contingencies_
Commitments and Contingencies (Notes) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||
Commitments and Contingencies | Environmental Laws and Regulations | |||||||||||||||||||||||||||
The Company is subject to federal, state and local laws and regulations regarding air and water quality, renewable portfolio standards, emissions performance standards, climate change, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact the Company's current and future operations. The Company believes it is in material compliance with all applicable laws and regulations. | ||||||||||||||||||||||||||||
In June 2013, the Nevada State Legislature passed Senate Bill No. 123, which included, in significant part: | ||||||||||||||||||||||||||||
• | Accelerating the plan to retire 800 MWs of coal plants, starting as soon as December 31, 2014; | |||||||||||||||||||||||||||
• | Replacement of such coal plants by issuing requests for proposals for the procurement of 300 MWs from renewable facilities; | |||||||||||||||||||||||||||
• | Construction or acquisition and ownership of 50 MWs of electric generating capacity from renewable facilities; | |||||||||||||||||||||||||||
• | Construction or acquisition and ownership of 550 MWs of additional electric generating capacity; and | |||||||||||||||||||||||||||
• | Assuring regulatory procedures that protect reliability and supply and address financial impacts on customer and utility. | |||||||||||||||||||||||||||
In May 2014, the Company filed its Emissions Reduction Capacity Replacement Plan ("ERCR Plan") in compliance with Senate Bill No. 123 ("SB 123") enacted by the 2013 Nevada Legislature. The filing proposed, among other items, the retirement of Reid Gardner Generating Station units 1, 2 and 3 in 2014 and unit 4 in 2017; the elimination of the Company's ownership interest in Navajo Generating Station in 2019; and a plan to replace the generating capacity being retired, as required by SB 123. The ERCR Plan includes the issuance of requests for proposals for 300 MW of renewable energy to be issued between 2014 and 2016; the acquisition of a 272-MW natural gas co-generating facility in 2014; the acquisition of a 210-MW natural gas peaking facility in 2014; the construction of a 15-MW solar photovoltaic facility expected to be placed in-service in 2015; and the construction of a 200-MW solar photovoltaic facility expected to be placed in-service in 2016. In the second quarter of 2014, the Company executed various contractual agreements to fulfill the proposed ERCR Plan, which are subject to the PUCN approval. The PUCN issued an order dated October 28, 2014 removing the 200-MW solar photovoltaic facility proposed by the Company from the ERCR Plan but accepting the remaining requests. In November 2014, the Company filed a petition for reconsideration, but in December 2014, the PUCN upheld the original order from October 2014 with respect to material matters. In December 2014, the Company filed its acceptance of the modifications to the ERCR Plan. | ||||||||||||||||||||||||||||
Reid Gardner Generation Station | ||||||||||||||||||||||||||||
In October 2011, the Company received a request for information from the Environmental Protection Agency Region 9 under Section 114 of the Clean Air Act requesting current and historical operations and capital project information for the Company's Reid Gardner Generating Station located near Moapa, Nevada. The Environmental Protection Agency's Section 114 information request does not allege any incidents of non-compliance at the plant, and there have been no other new enforcement-related proceedings that have been initiated by the Environmental Protection Agency relating to the plant. The Company completed its responses to the Environmental Protection Agency during the first quarter of 2012 and will continue to monitor developments relating to this Section 114 request. At this time, the Company cannot predict the impact, if any, associated with this information request. | ||||||||||||||||||||||||||||
Legal Matters | ||||||||||||||||||||||||||||
The Company is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. The Company does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. The Company is also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines, penalties and other costs in substantial amounts and are described below. | ||||||||||||||||||||||||||||
November 2005 Land Investors | ||||||||||||||||||||||||||||
In 2006, November 2005 Land Investors, LLC ("NLI") purchased from the United States through the Bureau of Land Management 2,675 acres of land located in North Las Vegas, Nevada. A small portion of the land is traversed by a 500 kilovolt ("kV") transmission line owned by the Company and sited pursuant to a pre-existing right-of-way grant from the Bureau of Land Management. Subsequent to NLI's purchase, a dispute arose as to whether the Company owed rent and, if it did, the amount owed to NLI under the right-of-way grant. NLI eventually "terminated" the right-of-way grant and brought claims against the Company for breach of contract, inverse condemnation and trespass. The Company counterclaimed for express condemnation of a perpetual easement over the right-of-way corridor. The matter proceeded to trial in the Eighth District Court, Clark County, Nevada ("Eighth District Court"). In September 2013, the Eighth District Court awarded NLI $1 million for unpaid rent and $5 million for inverse condemnation, plus interest and attorneys' fees, bringing the total judgment to $12 million. The Eighth District Court also found the Company was entitled to judgment in its favor on its counterclaim for condemnation of the right-of-way corridor. The Company has posted the required bond of $12 million and has appealed to the Nevada Supreme Court. The Company cannot assess or predict the outcome of the case at this time. | ||||||||||||||||||||||||||||
Park Highlands | ||||||||||||||||||||||||||||
The Company has six other rights-of-way located on the same 2,675 acres of land located in North Las Vegas, Nevada, commonly referred to as the Park Highlands properties. NLI purportedly also terminated the other six rights-of-way. On January 2, 2015 KBS SOR Park Highlands, LLC (“KBS”) filed a complaint in the Eighth District Court relating to one of the six rights-of-way, specifically the right-of-way that relates to a 230-kV line that traverses the property. In the complaint, KBS raised the same claims previously raised by NLI in the litigation relating to the 500-kV line. The Company plans to vigorously defend the matter. The Company cannot assess or predict the outcome of the case at this time. | ||||||||||||||||||||||||||||
On January 9, 2015, the Company filed an action in the Eighth District Court relating to the six rights-of-way on the Park Highlands properties. This action seeks a declaratory order quieting the Company’s title to the rights-of-way or in the alternative condemning an easement interest in the property. The Company plans to vigorously prosecute this matter to perfect its property rights. The Company cannot assess or predict the outcome of the case at this time. | ||||||||||||||||||||||||||||
Skye Canyon | ||||||||||||||||||||||||||||
In 2005, the Bureau of Land Management sold at auction a parcel of land commonly known as the Skye Canyon properties. The property was sold subject to preexisting rights-of-way held by the Company for the placement of electric transmission and distribution facilities. On January 9, 2015, the Company filed an action in the Eighth District Court relating to 14 rights-of-way located within the Skye Canyon properties. The action seeks a declaratory order from the court that the rights-of-way held by the Company are still valid, seeks to establish the proper rent, if any, payable by the Company and to identify the proper party to whom rent is due. In the alternative, the Company is condemning an easement interest for the 14 rights-of-way. The Company plans to vigorously prosecute this case. The Company cannot assess or predict the outcome of the case at this time. | ||||||||||||||||||||||||||||
Sierra Club and Moapa Band of Paiute Indians | ||||||||||||||||||||||||||||
In August 2013, the Sierra Club and Moapa Band of Paiute Indians filed a complaint in federal district court in Nevada against the Company and CDWR, alleging that activities at the Reid Gardner Generating Station are causing imminent and substantial harm to the environment and that placement of coal combustion residuals at the on-site landfill constitute "open dumping" in violation of the Resource Conservation and Recovery Act. The complaint also alleges that the Reid Gardner Generating Station is engaged in the unlawful discharge of pollutants in violation of the Clean Water Act. The notice was issued pursuant to the citizen suit provisions of the Resource Conservation and Recovery Act and the Clean Water Act. CDWR was named as a co-defendant in the litigation due to its prior co-ownership in Reid Gardner Generating Station Unit 4. The complaint seeks various injunctive remedies, assessment of civil penalties, and reimbursement of plaintiffs' attorney and legal fees and costs. In August 2014, the court dismissed without prejudice the plaintiff's amended complaint which sought civil penalties. The Company answered the complaint and has recently engaged in discussions with the plaintiffs to determine if a settlement can be reached that avoids the costs and burden of litigation. The Company cannot assess or predict the outcome of the case at this time. | ||||||||||||||||||||||||||||
Commitments | ||||||||||||||||||||||||||||
The Company has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2014 are as follows (in millions): | ||||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | 2020 and Thereafter | Total | ||||||||||||||||||||||
Contract type: | ||||||||||||||||||||||||||||
Fuel and capacity contract commitments | $ | 607 | $ | 447 | $ | 363 | $ | 289 | $ | 290 | $ | 3,058 | $ | 5,054 | ||||||||||||||
Fuel and capacity contract commitments (not commercially operable) | 65 | 79 | 80 | 81 | 88 | 1,883 | 2,276 | |||||||||||||||||||||
Construction commitments | 42 | — | — | — | — | — | 42 | |||||||||||||||||||||
Operating leases and easements | 9 | 7 | 6 | 7 | 7 | 52 | 88 | |||||||||||||||||||||
Maintenance, service and other contracts | 39 | 38 | 38 | 36 | 38 | 161 | 350 | |||||||||||||||||||||
Total commitments | $ | 762 | $ | 571 | $ | 487 | $ | 413 | $ | 423 | $ | 5,154 | $ | 7,810 | ||||||||||||||
Fuel and Capacity Contract Commitments | ||||||||||||||||||||||||||||
Purchased Power | ||||||||||||||||||||||||||||
The Company has several contracts for long-term purchase of electric energy which have been approved by the PUCN. The expiration of these contracts range from 2015 to 2039. Purchased power includes contracts which meet the definition of a lease. The Company's rent expense for purchase power contracts which met the lease criteria for 2014, 2013 and 2012 were $245 million, $400 million and $353 million, respectively, and are recorded as cost of fuel, energy and capacity on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
Coal and Natural Gas | ||||||||||||||||||||||||||||
The Company has a long-term contract for the purchase of coal that extends through 2019 and a contract for the transportation of coal that extends through 2017. Additionally, gas transportation contracts expire from 2015 to 2031 and the gas supply contract expires in 2016. | ||||||||||||||||||||||||||||
Fuel and Capacity Contract Commitments - Not Commercially Operable | ||||||||||||||||||||||||||||
The Company has several contracts for long-term purchase of electric energy in which the facility remains under development. Amounts represent the estimated payments under renewable energy power purchase contracts, which have been approved by the PUCN and are contingent upon the developers obtaining commercial operation and their ability to deliver power. | ||||||||||||||||||||||||||||
Construction Commitments | ||||||||||||||||||||||||||||
The Company's construction commitments included in the table above relate to firm commitments to build a solar facility on the Nellis Air Force Base. | ||||||||||||||||||||||||||||
Operating Leases | ||||||||||||||||||||||||||||
The Company has non-cancelable operating leases primarily for office equipment, office space, certain operating facilities, vehicles and land. These leases generally require the Company to pay for insurance, taxes and maintenance applicable to the leased property. Certain leases contain renewal options for varying periods and escalation clauses for adjusting rent to reflect changes in price indices. The Company also has non-cancelable easements for land. Rent expense on non-cancelable operating leases totaled $10 million, $9 million and $10 million for the year-ended December 31, 2014, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||
Maintenance, Service and Other Contracts | ||||||||||||||||||||||||||||
The Company has long-term service agreements for the performance of maintenance on generation units. Obligation amounts are based on estimated usage. The estimated expiration of these service agreements range from 2024 to 2028. |
Supplemental_Cash_Flow_Disclos
Supplemental Cash Flow Disclosures (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ||||||||||||
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures | |||||||||||
The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Supplemental disclosure of cash flow information - | ||||||||||||
Interest paid, net of amounts capitalized | $ | 194 | $ | 209 | $ | 208 | ||||||
Supplemental disclosure of non-cash investing and financing transactions: | ||||||||||||
Accruals related to property, plant and equipment additions | $ | 30 | $ | 25 | $ | 150 | ||||||
Capital and financial lease obligations incurred | $ | 7 | $ | 419 | $ | — | ||||||
Unaudited_Quarterly_Operating_
Unaudited Quarterly Operating Results (Notes) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Unaudited Quarterly Operating Results [Abstract] | ||||||||||||||||
Unaudited Quarterly Operating Results | Unaudited Quarterly Operating Results (in millions) | |||||||||||||||
Three-Month Periods Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2014 | 2014 | 2014 | 2014 | |||||||||||||
Operating revenues | $ | 417 | $ | 595 | $ | 867 | $ | 458 | ||||||||
Operating income | 55 | 145 | 307 | 34 | ||||||||||||
Net income | 6 | 62 | 168 | (9 | ) | |||||||||||
Three-Month Periods Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||||
Operating revenues | $ | 372 | $ | 537 | $ | 786 | $ | 397 | ||||||||
Operating income | 58 | 141 | 305 | (69 | ) | |||||||||||
Net income | 5 | 59 | 164 | (83 | ) | |||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Basis of Consolidation and Presentation | Basis of Consolidation and Presentation | |||||||||||
The Consolidated Financial Statements include the accounts of the Company and its subsidiaries in which it holds a controlling financial interest as of the financial statement date. Intercompany accounts and transactions have been eliminated. | ||||||||||||
The impacts of acquisition accounting from the BHE Merger were not reflected on the Consolidated Financial Statements of the Company. | ||||||||||||
Use of Estimates in Preparation of Financial Statements | Use of Estimates in Preparation of Financial Statements | |||||||||||
The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. These estimates include, but are not limited to, the effects of regulation; recovery of long-lived assets; certain assumptions made in accounting for pension and other postretirement benefits; asset retirement obligations ("AROs"); income taxes; unbilled revenue; valuation of certain financial assets and liabilities, including derivative contracts; and accounting for contingencies. Actual results may differ from the estimates used in preparing the Consolidated Financial Statements. | ||||||||||||
Accounting for the Effects of Certain Types of Regulation | Accounting for the Effects of Certain Types of Regulation | |||||||||||
The Company prepares its Consolidated Financial Statements in accordance with authoritative guidance for regulated operations, which recognizes the economic effects of regulation. Accordingly, the Company defers the recognition of certain costs or income if it is probable that, through the ratemaking process, there will be a corresponding increase or decrease in future regulated rates. Regulatory assets and liabilities are established to reflect the impacts of these deferrals, which will be recognized in earnings in the periods the corresponding changes in regulated rates occur. | ||||||||||||
The Company continually evaluates the applicability of the guidance for regulated operations and whether its regulatory assets and liabilities are probable of inclusion in future regulated rates by considering factors such as a change in the regulator's approach to setting rates from cost-based ratemaking to another form of regulation, other regulatory actions or the impact of competition that could limit the Company's ability to recover its costs. The Company believes the application of the guidance for regulated operations is appropriate and its existing regulatory assets and liabilities are probable of inclusion in future regulated rates. The evaluation reflects the current political and regulatory climate at both the federal and state levels. If it becomes no longer probable that the deferred costs or income will be included in future regulated rates, the related regulatory assets and liabilities will be written off to net income, returned to customers or re-established as accumulated other comprehensive income (loss) | ||||||||||||
Fair Value Measurements | Fair Value Measurements | |||||||||||
As defined under GAAP, fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in the principal market or in the most advantageous market when no principal market exists. Adjustments to transaction prices or quoted market prices may be required in illiquid or disorderly markets in order to estimate fair value. Different valuation techniques may be appropriate under the circumstances to determine the value that would be received to sell an asset or paid to transfer a liability in an orderly transaction. Market participants are assumed to be independent, knowledgeable, able and willing to transact an exchange and not under duress. Nonperformance or credit risk is considered in determining fair value. Considerable judgment may be required in interpreting market data used to develop the estimates of fair value. Accordingly, estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized in a current or future market exchange. | ||||||||||||
Cash Equivalents and Restricted Cash and Investments | Cash Equivalents and Restricted Cash and Investments | |||||||||||
Cash equivalents consist of funds invested in money market mutual funds, United States Treasury Bills and other investments with a maturity of three months or less when purchased. Cash and cash equivalents exclude amounts where availability is restricted by legal requirements, loan agreements or other contractual provisions. Restricted amounts are included in other assets on the Consolidated Balance Sheets. | ||||||||||||
Allowance for Doubtful Accounts | The change in the balance of the allowance for doubtful accounts, which is included in accounts receivable, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31 (in millions): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Beginning balance | $ | 8 | $ | 8 | $ | 7 | ||||||
Charged to operating costs and expenses, net | 14 | 15 | 15 | |||||||||
Write-offs, net | (8 | ) | (15 | ) | (14 | ) | ||||||
Ending balance | $ | 14 | $ | 8 | $ | 8 | ||||||
Allowance for Doubtful Accounts | ||||||||||||
Accounts receivable are stated at the outstanding principal amount, net of an estimated allowance for doubtful accounts. The allowance for doubtful accounts is based on the Company's assessment of the collectibility of amounts owed to the Company by its customers. This assessment requires judgment regarding the ability of customers to pay or the outcome of any pending disputes. The Company also has the ability to assess deposits on customers who have delayed payments or who are deemed to be a credit risk. The change in the balance of the allowance for doubtful accounts, which is included in accounts receivable, net on the Consolidated Balance Sheets, is summarized as follows for the years ended December 31 (in millions): | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Beginning balance | $ | 8 | $ | 8 | $ | 7 | ||||||
Charged to operating costs and expenses, net | 14 | 15 | 15 | |||||||||
Write-offs, net | (8 | ) | (15 | ) | (14 | ) | ||||||
Ending balance | $ | 14 | $ | 8 | $ | 8 | ||||||
Derivatives | Derivatives | |||||||||||
The Company employs a number of different derivative contracts, which may include forwards, futures, options, swaps and other agreements, to manage its commodity price and interest rate risk. Derivative contracts are recorded on the Consolidated Balance Sheets as either assets or liabilities and are stated at estimated fair value unless they are designated as normal purchases or normal sales and qualify for the exception afforded by GAAP. Derivative balances reflect offsetting permitted under master netting agreements with counterparties and cash collateral paid or received under such agreements. Cash collateral received from or paid to counterparties to secure derivative contract assets or liabilities in excess of amounts offset is included in other current assets on the Consolidated Balance Sheets. | ||||||||||||
Commodity derivatives used in normal business operations that are settled by physical delivery, among other criteria, are eligible for and may be designated as normal purchases or normal sales. Normal purchases or normal sales contracts are not marked‑to‑market and settled amounts are recognized as cost of fuel, energy and capacity on the Consolidated Statements of Operations. | ||||||||||||
For the Company's derivatives not designated as hedging contracts, the settled amount is generally included in regulated rates. Accordingly, the net unrealized gains and losses associated with interim price movements on contracts that are accounted for as derivatives and probable of inclusion in regulated rates are recorded as regulatory assets and liabilities. | ||||||||||||
For the Company's derivatives designated as hedging contracts, the Company formally assesses, at inception and thereafter, whether the hedging contract is highly effective in offsetting changes in the hedged item. The Company formally documents hedging activity by transaction type and risk management strategy. | ||||||||||||
Inventories | Inventories | |||||||||||
Inventories consist mainly of materials and supplies totaling $58 million and $54 million as of December 31, 2014 and 2013, respectively, and fuel, which includes coal stocks, stored natural gas and fuel oil, totaling $30 million and $19 million as of December 31, 2014 and 2013, respectively. The cost is determined using the average cost method. Materials are charged to inventory when purchased and are expensed or capitalized to construction work in process, as appropriate, when used. Fuel costs are recovered from retail customers through the base tariff energy rates and deferred energy accounting adjustment charges approved by the PUCN. | ||||||||||||
Property, Plant and Equipment, Net - General | Property, Plant and Equipment, Net | |||||||||||
General | ||||||||||||
Additions to property, plant and equipment are recorded at cost. The Company capitalizes all construction-related material, direct labor and contract services, as well as indirect construction costs. Indirect construction costs include debt allowance for funds used during construction ("AFUDC"), and equity AFUDC, as applicable. The cost of additions and betterments are capitalized, while costs incurred that do not improve or extend the useful lives of the related assets are generally expensed. The cost of repairs and minor replacements are charged to expense when incurred with the exception of costs for generation plant maintenance under certain long-term service agreements. Costs under these agreements are expensed straight-line over the term of the agreements as approved by the PUCN. | ||||||||||||
Depreciation and amortization are generally computed by applying the composite or straight-line method based on either estimated useful lives or mandated recovery periods as prescribed by the Company's various regulatory authorities. Depreciation studies are completed by the Company to determine the appropriate group lives, net salvage and group depreciation rates. These studies are reviewed and rates are ultimately approved by the applicable regulatory commission. Net salvage includes the estimated future residual values of the assets and any estimated removal costs recovered through approved depreciation rates. Estimated removal costs are recorded as either a cost of removal regulatory liability or an ARO liability on the Consolidated Balance Sheets, depending on whether the obligation meets the requirements of an ARO. As actual removal costs are incurred, the associated liability is reduced. | ||||||||||||
Generally when the Company retires or sells a component of regulated property, plant and equipment, it charges the original cost, net of any proceeds from the disposition, to accumulated depreciation. Any gain or loss on disposals of all other assets is recorded through earnings. | ||||||||||||
Debt and equity AFUDC, which represent the estimated costs of debt and equity funds necessary to finance the construction of regulated facilities, are capitalized as a component of property, plant and equipment, with offsetting credits to the Consolidated Statements of Operations. The rate applied to construction costs is the lower of the PUCN allowed rate of return and rates computed based on guidelines set forth by the Federal Energy Regulatory Commission ("FERC"). After construction is completed, the Company is permitted to earn a return on these costs as a component of the related assets, as well as recover these costs through depreciation expense over the useful lives of the related assets. The Company's AFUDC rate used during both 2014 and 2013 was 8.09%. | ||||||||||||
Property, Plant and Equipment, Net - Asset Retirement Obligations | Asset Retirement Obligations | |||||||||||
The Company recognizes AROs when it has a legal obligation to perform decommissioning, reclamation or removal activities upon retirement of an asset. The Company's AROs are primarily associated with its generating facilities. The fair value of an ARO liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made, and is added to the carrying amount of the associated asset, which is then depreciated over the remaining useful life of the asset. Subsequent to the initial recognition, the ARO liability is adjusted for any revisions to the original estimate of undiscounted cash flows (with corresponding adjustments to property, plant and equipment, net) and for accretion of the ARO liability due to the passage of time. The difference between the ARO liability, the corresponding ARO asset included in property, plant and equipment, net and amounts recovered in rates to satisfy such liabilities is recorded as a regulatory asset or liability on the Consolidated Balance Sheets. | ||||||||||||
Management's methodology to assess its legal obligation includes an inventory of assets by the Company's system and components and a review of rights-of-way and easements, regulatory orders, leases and federal, state and local environmental laws. Management identified legal obligations to retire generation plant assets specified in land leases for the Company's jointly-owned Navajo Generating Station and the Higgins Generating Station. Provisions of the lease require the lessees to remove the facilities upon request of the lessors at the expiration of the leases. Additionally, management has determined evaporative ponds, dry ash landfills, fuel storage tanks, asbestos and oils treated with Poly Chlorinated Biphenyl have met the requirements for an ARO. | ||||||||||||
Property, Plant and Equipment, Net - Impairment | Impairment | |||||||||||
The Company evaluates long-lived assets for impairment, including property, plant and equipment, when events or changes in circumstances indicate that the carrying value of such assets may not be recoverable or the assets are being held for sale. Upon the occurrence of a triggering event, the asset is reviewed to assess whether the estimated undiscounted cash flows expected from the use of the asset plus the residual value from the ultimate disposal exceeds the carrying value of the asset. If the carrying value exceeds the estimated recoverable amounts, the asset is written down to the estimated fair value and any resulting impairment loss is reflected on the Consolidated Statements of Operations. As substantially all property, plant and equipment was used in regulated businesses as of December 31, 2014, the impacts of regulation are considered when evaluating the carrying value of regulated assets. | ||||||||||||
Income Taxes | Income Taxes | |||||||||||
Berkshire Hathaway commenced including the Company in its United States federal income tax return on December 20, 2013 in connection with the BHE Merger. Prior to December 20, 2013, the Company filed a consolidated United States federal income tax return with NV Energy. Consistent with established regulatory practice, the Company's provision for income taxes has been computed on a separate return basis. | ||||||||||||
Deferred income tax assets and liabilities are based on differences between the financial statement and income tax basis of assets and liabilities using estimated income tax rates expected to be in effect for the year in which the differences are expected to reverse. Changes in deferred income tax assets and liabilities that are associated with components of other comprehensive income ("OCI") are charged or credited directly to OCI. Changes in deferred income tax assets and liabilities that are associated with income tax benefits and expense for certain property‑related basis differences and other various differences that the Company is required to pass on to its customers are charged or credited directly to a regulatory asset or liability. As of December 31, 2014 and 2013, these amounts were recognized as regulatory assets of $156 million and $165 million, respectively, and regulatory liabilities of $3 million and $4 million, respectively, and will be included in regulated rates when the temporary differences reverse. Other changes in deferred income tax assets and liabilities are included as a component of income tax expense. Changes in deferred income tax assets and liabilities attributable to changes in enacted income tax rates are charged or credited to income tax expense or a regulatory asset or liability in the period of enactment. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount that is more-likely-than-not to be realized. Investment tax credits are generally deferred and amortized over the estimated useful lives of the related properties. | ||||||||||||
Uncertain income tax positions | In determining the Company's income taxes, management is required to interpret complex income tax laws and regulations, which includes consideration of regulatory implications imposed by the Company's various regulatory jurisdictions. The Company's income tax returns are subject to continuous examinations by federal and local income tax authorities that may give rise to different interpretations of these complex laws and regulations. Due to the nature of the examination process, it generally takes years before these examinations are completed and these matters are resolved. The Company recognizes the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Consolidated Financial Statements from such a position are measured based on the largest benefit that is more-likely-than-not to be realized upon ultimate settlement. Although the ultimate resolution of the Company's federal and local income tax examinations is uncertain, the Company believes it has made adequate provisions for these income tax positions. The aggregate amount of any additional income tax liabilities that may result from these examinations, if any, is not expected to have a material impact on the Company's consolidated financial results. | |||||||||||
Revenue Recognition | Revenue Recognition | |||||||||||
Revenue is recognized as electricity is delivered or services are provided. Revenue recognized includes billed and unbilled amounts. As of December 31, 2014 and 2013, unbilled revenue was $111 million and $103 million, respectively, and is included in accounts receivable, net on the Consolidated Balance Sheets. Rates are established by regulators or contractual arrangements. When preliminary rates are permitted to be billed prior to final approval by the applicable regulator, certain revenue collected may be subject to refund and a liability for estimated refunds is accrued. The Company records sales, franchise and excise taxes collected directly from customers and remitted directly to the taxing authorities on a net basis on the Consolidated Statements of Operations. | ||||||||||||
The Company primarily buys energy and natural gas to satisfy its customer load requirements. Due to changes in retail customer load requirements, the Company may not take physical delivery of the energy or natural gas. The Company may sell the excess energy or natural gas to the wholesale market. In such instances, it is the Company's policy to record such sales net in cost of fuel, energy and capacity. | ||||||||||||
Unamortized Debt Premiums, Discounts and Financing Costs | Unamortized Debt Premiums, Discounts and Financing Costs | |||||||||||
Premiums, discounts and financing costs incurred for the issuance of long-term debt are amortized over the term of the related financing using the effective interest method. | ||||||||||||
Segment Information | Segment Information | |||||||||||
The Company currently has one segment, which includes its regulated electric utility operations. | ||||||||||||
New Accounting Pronouncements | New Accounting Pronouncements | |||||||||||
In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, which creates FASB Accounting Standards Codification ("ASC") Topic 606, "Revenue from Contracts with Customers" and supersedes ASC Topic 605, "Revenue Recognition." The guidance replaces industry-specific guidance and establishes a single five-step model to identify and recognize revenue. The core principle of the guidance is that an entity should recognize revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. Additionally, the guidance requires the entity to disclose further quantitative and qualitative information regarding the nature and amount of revenues arising from contracts with customers, as well as other information about the significant judgments and estimates used in recognizing revenues from contracts with customers. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted. This guidance may be adopted retrospectively or under a modified retrospective method where the cumulative effect is recognized at the date of initial application. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. | ||||||||||||
In February 2013, the FASB issued ASU No. 2013-04, which amends FASB ASC Topic 405, "Liabilities." The amendments in this guidance require an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the amount the reporting entity agreed to pay plus any additional amounts the reporting entity expects to pay on behalf of its co-obligor. Additionally, the guidance requires the entity to disclose the nature and amount of the obligation, as well as other information about those obligations. The Company adopted this guidance on January 1, 2014. The adoption of this guidance did not have a material impact on the Company's disclosures included within Notes to Consolidated Financial Statements. |
Property_Plant_and_Equipment_N1
Property, Plant and Equipment, Net (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Property, Plant and Equipment, Net [Abstract] | ||||||||||
Property, Plant, and Equipment, Net | Property, plant and equipment, net consists of the following as of December 31 (in millions): | |||||||||
Depreciable Life | 2014 | 2013 | ||||||||
Utility plant in-service: | ||||||||||
Generation | 25 - 80 years | $ | 4,034 | $ | 3,789 | |||||
Distribution | 20 - 65 years | 3,018 | 2,936 | |||||||
Transmission | 45 - 65 years | 1,757 | 1,743 | |||||||
General intangible plant | 5 - 65 years | 669 | 645 | |||||||
Utility plant in-service | 9,478 | 9,113 | ||||||||
Accumulated depreciation and amortization | (2,599 | ) | (2,217 | ) | ||||||
Utility plant in-service, net | 6,879 | 6,896 | ||||||||
Other non-regulated, net of accumulated depreciation and amortization | 5 - 65 years | 4 | 3 | |||||||
6,883 | 6,899 | |||||||||
Construction work-in-progress | 120 | 93 | ||||||||
Property, plant and equipment, net | $ | 7,003 | $ | 6,992 | ||||||
Jointly_Owned_Utility_Faciliti1
Jointly Owned Utility Facilities (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Jointly Owned Utility Plant, Net Ownership Amount [Abstract] | ||||||||||||||
Jointly Owned Utility Facilities | The amounts shown in the table below represent the Company's share in each jointly owned facility as of December 31, 2014 (dollars in millions): | |||||||||||||
Construction | ||||||||||||||
Company | Facility In | Accumulated | Work-in- | |||||||||||
Share | Service | Depreciation | Progress | |||||||||||
Silverhawk Generating Station | 75% | $ | 241 | $ | 55 | $ | 5 | |||||||
Navajo Generating Station | 11 | 198 | 135 | 2 | ||||||||||
ON Line Transmission Line(1) | 24 | 142 | 3 | 1 | ||||||||||
Other Transmission Facilities | Various | 68 | 27 | — | ||||||||||
Total | $ | 649 | $ | 220 | $ | 8 | ||||||||
-1 | ON Line, a 500-kilovolt transmission line connecting the Company and Sierra Pacific, was placed in-service December 2013. The Company and Sierra Pacific entered into a long-term transmission use agreement, in which the Company and Sierra Pacific have 25% interest and Great Basin Transmission South, LLC has 75% interest. Refer to Note 8 for additional information. |
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Regulatory Assets and Liabilities Disclosure [Abstract] | ||||||||||
Regulatory Assets | Regulatory assets represent costs that are expected to be recovered in future rates. The Company's regulatory assets reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): | |||||||||
Weighted | ||||||||||
Average | ||||||||||
Remaining Life | 2014 | 2013 | ||||||||
Deferred income taxes(1) | 29 years | $ | 156 | $ | 165 | |||||
Merger costs from 1999 merger | 29 years | 149 | 155 | |||||||
Deferred excess energy costs | 2 years | 129 | 159 | |||||||
Decommissioning costs | 8 years | 113 | 25 | |||||||
Abandoned projects | 5 years | 107 | 115 | |||||||
Employee benefit plans(2) | 10 years | 85 | 83 | |||||||
Asset retirement obligations | 7 years | 80 | 98 | |||||||
Legacy meters | 18 years | 68 | 65 | |||||||
Deferred operating costs | 28 years | 61 | 63 | |||||||
Demand side resources | 3 years | 41 | 70 | |||||||
ON Line | 39 years | 38 | — | |||||||
Loss on reacquired debt | 19 years | 33 | 35 | |||||||
Unrealized loss on regulated derivative contracts | 3 years | 30 | 47 | |||||||
Other | Various | 36 | 58 | |||||||
Total regulatory assets | $ | 1,126 | $ | 1,138 | ||||||
Reflected as: | ||||||||||
Current assets | $ | 57 | $ | 81 | ||||||
Other assets | 1,069 | 1,057 | ||||||||
Total regulatory assets | $ | 1,126 | $ | 1,138 | ||||||
-1 | Amounts represent income tax benefits related to accelerated tax depreciation and certain property-related basis differences that were previously flowed through to customers and will be included in regulated rates when the temporary differences reverse. | |||||||||
-2 | Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. | |||||||||
Regulatory Liabilities | Regulatory liabilities represent income to be recognized or amounts to be returned to customers in future periods. The Company's regulatory liabilities reflected on the Consolidated Balance Sheets consist of the following as of December 31 (in millions): | |||||||||
Weighted | ||||||||||
Average | ||||||||||
Remaining Life | 2014 | 2013 | ||||||||
Cost of removal(1) | 36 years | $ | 295 | $ | 273 | |||||
Energy efficiency program | 1 year | 25 | 57 | |||||||
Renewable energy program | 1 year | 15 | 18 | |||||||
Other | Various | 31 | 38 | |||||||
Total regulatory liabilities | $ | 366 | $ | 386 | ||||||
Reflected as: | ||||||||||
Current liabilities | $ | 40 | $ | 74 | ||||||
Other long-term liabilities | 326 | 312 | ||||||||
Total regulatory liabilities | $ | 366 | $ | 386 | ||||||
-1 | Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. |
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Debt Disclosure [Abstract] | |||||||||||||
Long-term Debt | The Company's long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions): | ||||||||||||
Par Value | 2014 | 2013 | |||||||||||
General and Refunding Mortgage Securities: | |||||||||||||
5.875% Series L, due 2015 | $ | 250 | $ | 250 | $ | 250 | |||||||
5.950% Series M, due 2016 | 210 | 210 | 210 | ||||||||||
6.500% Series O, due 2018 | 325 | 323 | 324 | ||||||||||
6.500% Series S, due 2018 | 499 | 498 | 499 | ||||||||||
7.125% Series V, due 2019 | 500 | 501 | 501 | ||||||||||
6.650% Series N, due 2036 | 367 | 361 | 363 | ||||||||||
6.750% Series R, due 2037 | 349 | 348 | 349 | ||||||||||
5.375% Series X, due 2040 | 250 | 249 | 249 | ||||||||||
5.450% Series Y, due 2041 | 250 | 250 | 250 | ||||||||||
Variable-rate series (2014-0.455% to 0.464%, 2013-0.454% to 0.459%): | |||||||||||||
Pollution Control Revenue Bonds Series 2006A, due 2032 | 38 | 38 | 38 | ||||||||||
Pollution Control Revenue Bonds Series 2006, due 2036 | 38 | 38 | 38 | ||||||||||
Capital and financial lease obligations - 2.750% to 11.600%, due through 2054 | 510 | 510 | 506 | ||||||||||
Total long-term debt | $ | 3,586 | $ | 3,576 | $ | 3,577 | |||||||
Reflected as: | |||||||||||||
Current portion of long-term debt | $ | 264 | $ | 22 | |||||||||
Long-term debt | 3,312 | 3,555 | |||||||||||
Total long-term debt | $ | 3,576 | $ | 3,577 | |||||||||
Maturities of Long-term Debt | The annual repayments of long-term debt and capital and financial leases for the years beginning January 1, 2015 and thereafter, excluding unamortized premiums and discounts, are as follows (in millions): | ||||||||||||
Long-term | Capital and Financial | ||||||||||||
Debt | Lease Obligations | Total | |||||||||||
2015 | $ | 250 | $ | 75 | $ | 325 | |||||||
2016 | 210 | 73 | 283 | ||||||||||
2017 | — | 75 | 75 | ||||||||||
2018 | 823 | 74 | 897 | ||||||||||
2019 | 500 | 76 | 576 | ||||||||||
Thereafter | 1,291 | 986 | 2,277 | ||||||||||
Total | 3,074 | 1,359 | 4,433 | ||||||||||
Unamortized discount | (8 | ) | — | (8 | ) | ||||||||
Executory costs | — | (148 | ) | (148 | ) | ||||||||
Amounts representing interest | — | (701 | ) | (701 | ) | ||||||||
Total | $ | 3,066 | $ | 510 | $ | 3,576 | |||||||
Risk_Management_Risk_Managemen
Risk Management Risk Management (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Risks and Uncertainties [Abstract] | |||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table, which excludes contracts that have been designated as normal under the normal purchases or normal sales exception afforded by GAAP, summarizes the fair value of the Company's derivative contracts, on a gross basis, and reconciles those amounts to the amounts presented on a net basis on the Consolidated Balance Sheets (in millions): | ||||||||||||
Other | Other | ||||||||||||
Current | Long-term | ||||||||||||
Liabilities | Liabilities | Total | |||||||||||
As of December 31, 2014 | |||||||||||||
Commodity liabilities(1) | $ | (9 | ) | $ | (21 | ) | $ | (30 | ) | ||||
As of December 31, 2013 | |||||||||||||
Commodity liabilities(1) | $ | (9 | ) | $ | (38 | ) | $ | (47 | ) | ||||
-1 | The Company's commodity derivatives not designated as hedging contracts are included in regulated rates and as of December 31, 2014 and 2013, a regulatory asset of $30 million and $47 million, respectively, was recorded related to the derivative liability of $30 million and $47 million, respectively. | ||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | The following table summarizes the net notional amounts of outstanding derivative contracts with indexed and fixed price terms that comprise the mark-to-market values as of December 31 (in millions): | ||||||||||||
Unit of | |||||||||||||
Measure | 2014 | 2013 | |||||||||||
Electricity sales | Megawatt hours | (3 | ) | (4 | ) | ||||||||
Natural gas purchases | Decatherms | 115 | 118 | ||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table presents the Company's assets and liabilities recognized on the Consolidated Balance Sheets and measured at fair value on a recurring basis (in millions): | |||||||||||||||
Input Levels for Fair Value Measurements | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
As of December 31, 2014 | ||||||||||||||||
Assets - investment funds | $ | 20 | $ | — | $ | — | $ | 20 | ||||||||
Liabilities - commodity derivatives | $ | — | $ | — | $ | (30 | ) | $ | (30 | ) | ||||||
As of December 31, 2013 | ||||||||||||||||
Assets: | ||||||||||||||||
Money market mutual funds(1) | $ | 50 | $ | — | $ | — | $ | 50 | ||||||||
Investment funds | 22 | — | — | 22 | ||||||||||||
$ | 72 | $ | — | $ | — | $ | 72 | |||||||||
Liabilities - commodity derivatives | $ | — | $ | — | $ | (47 | ) | $ | (47 | ) | ||||||
-1 | Amounts are included in other assets on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost. | |||||||||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table reconciles the beginning and ending balances of the Company's commodity derivative liabilities measured at fair value on a recurring basis using significant Level 3 inputs for the years ended December 31 (in millions): | |||||||||||||||
2014 | ||||||||||||||||
Beginning balance | $ | (47 | ) | |||||||||||||
Changes in fair value recognized in regulatory assets | 9 | |||||||||||||||
Purchases | — | |||||||||||||||
Settlements | 8 | |||||||||||||||
Ending balance | $ | (30 | ) | |||||||||||||
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of the Company's long-term debt as of December 31 (in millions): | |||||||||||||||
2014 | 2013 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Value | Value | Value | Value | |||||||||||||
Long-term debt | $ | 3,066 | $ | 3,712 | $ | 3,071 | $ | 3,596 | ||||||||
Other_Net_Tables
Other, Net (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Other Nonoperating Income (Expense) [Abstract] | ||||||||||||
Schedule of Other Nonoperating Income (Expense) | Other, net as shown on the Consolidated Statements of Operations for the years ended December 31 consists of the following (in millions): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Interest and dividend income | $ | 2 | $ | 5 | $ | 4 | ||||||
Donations | — | — | (2 | ) | ||||||||
Interest expense on regulatory items | 6 | (2 | ) | (7 | ) | |||||||
Other | 14 | 2 | 2 | |||||||||
Total other, net | $ | 22 | $ | 5 | $ | (3 | ) | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Components of Income Tax Expense (Benefit) | Income tax expense (benefit) consists of the following for the years ended December 31 (in millions): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Current – Federal | $ | — | $ | (1 | ) | $ | (12 | ) | ||||
Deferred – Federal | 131 | 96 | 151 | |||||||||
Investment tax credits | (1 | ) | (1 | ) | (1 | ) | ||||||
Total income tax expense | $ | 130 | $ | 94 | $ | 138 | ||||||
Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory income rate to the effective income tax rate applicable to income before income tax expense is as follows for the years ended December 31: | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Federal statutory income tax rate | 35 | % | 35 | % | 35 | % | ||||||
Non-deductible BHE Merger related expenses | — | 3 | — | |||||||||
Effects of ratemaking | 1 | 1 | 1 | |||||||||
Other | — | — | (1 | ) | ||||||||
Effective income tax rate | 36 | % | 39 | % | 35 | % | ||||||
Components of Net Deferred Income Tax Liability | The net deferred income tax liability consists of the following as of December 31 (in millions): | |||||||||||
2014 | 2013 | |||||||||||
Deferred income tax assets: | ||||||||||||
Federal net operating loss and credit carryforwards | $ | 158 | $ | 265 | ||||||||
Capital and financial leases | 178 | 177 | ||||||||||
Employee benefits | 22 | 11 | ||||||||||
Regulatory liabilities | 37 | 4 | ||||||||||
Other | 57 | 85 | ||||||||||
Total deferred income tax assets | 452 | 542 | ||||||||||
Valuation allowance | (2 | ) | (2 | ) | ||||||||
Total deferred income tax assets, net | 450 | 540 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Property related items | (1,175 | ) | (1,145 | ) | ||||||||
Regulatory assets | (341 | ) | (314 | ) | ||||||||
Capital and financial leases | (174 | ) | (189 | ) | ||||||||
Other | (29 | ) | (38 | ) | ||||||||
Total deferred income tax liabilities | (1,719 | ) | (1,686 | ) | ||||||||
Net deferred income tax liability | $ | (1,269 | ) | $ | (1,146 | ) | ||||||
Reflected as: | ||||||||||||
Deferred income taxes - current asset | $ | 145 | $ | 152 | ||||||||
Deferred income taxes - long-term liability | (1,414 | ) | (1,298 | ) | ||||||||
Net deferred income tax liability | $ | (1,269 | ) | $ | (1,146 | ) | ||||||
Summary of Operating Loss Carryforwards | The following table provides the Company's federal net operating loss and tax credit carryforwards and expiration dates as of December 31, 2014 (in millions): | |||||||||||
Net operating loss carryforwards | $ | 420 | ||||||||||
Deferred income taxes on federal net operating loss carryforwards | $ | 147 | ||||||||||
Expiration dates | 2030-2034 | |||||||||||
Other tax credits | $ | 11 | ||||||||||
Expiration dates | 2015-2033 | |||||||||||
Net Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending balances of the Company's net unrecognized tax benefits is as follows for the years ended December 31 (in millions): | |||||||||||
2014 | 2013 | |||||||||||
Beginning balance | $ | 3 | $ | 4 | ||||||||
Additions for tax positions of prior years | — | — | ||||||||||
Reductions for tax positions of prior years | — | (1 | ) | |||||||||
Ending balance | $ | 3 | $ | 3 | ||||||||
Retirement_Plan_and_Postretire1
Retirement Plan and Postretirement Benefits (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||
Schedule of Amounts Recognized in Balance Sheet | Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following as of December 31(in millions): | |||||||
2014 | 2013 | |||||||
Qualified Pension Plan: | ||||||||
Other assets | $ | — | $ | 13 | ||||
Other long-term liabilities | (23 | ) | — | |||||
Non-Qualified Pension Plans: | ||||||||
Other current liabilities | (1 | ) | (4 | ) | ||||
Other long-term liabilities | (9 | ) | (8 | ) | ||||
Other Postretirement Plans - | ||||||||
Other long-term liabilities | 1 | (7 | ) | |||||
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ||||||||
Schedule of Asset Retirement Obligations | The following table presents the Company's ARO liabilities by asset type as of December 31 (in millions): | |||||||
2014 | 2013 | |||||||
Evaporative ponds and dry ash landfills | $ | 25 | $ | 48 | ||||
Waste water remediation | 53 | 36 | ||||||
Asbestos | 3 | 4 | ||||||
Other | 5 | 12 | ||||||
Total asset retirement obligations | $ | 86 | $ | 100 | ||||
Schedule of Change in Asset Retirement Obligation | The following table reconciles the beginning and ending balances of the Company's ARO liabilities for the years ended December 31 (in millions): | |||||||
2014 | 2013 | |||||||
Beginning balance | $ | 100 | $ | 60 | ||||
Change in estimated costs | (18 | ) | 37 | |||||
Accretion | 4 | 3 | ||||||
Ending balance | $ | 86 | $ | 100 | ||||
Reflected as: | ||||||||
Other current liabilities | $ | 14 | $ | — | ||||
Other long-term liabilities | 72 | 100 | ||||||
$ | 86 | $ | 100 | |||||
Commitments_and_Contingencies_1
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||
Contractual Obligation, Fiscal Year Maturity Schedule | The Company has the following firm commitments that are not reflected on the Consolidated Balance Sheet. Minimum payments as of December 31, 2014 are as follows (in millions): | |||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | 2020 and Thereafter | Total | ||||||||||||||||||||||
Contract type: | ||||||||||||||||||||||||||||
Fuel and capacity contract commitments | $ | 607 | $ | 447 | $ | 363 | $ | 289 | $ | 290 | $ | 3,058 | $ | 5,054 | ||||||||||||||
Fuel and capacity contract commitments (not commercially operable) | 65 | 79 | 80 | 81 | 88 | 1,883 | 2,276 | |||||||||||||||||||||
Construction commitments | 42 | — | — | — | — | — | 42 | |||||||||||||||||||||
Operating leases and easements | 9 | 7 | 6 | 7 | 7 | 52 | 88 | |||||||||||||||||||||
Maintenance, service and other contracts | 39 | 38 | 38 | 36 | 38 | 161 | 350 | |||||||||||||||||||||
Total commitments | $ | 762 | $ | 571 | $ | 487 | $ | 413 | $ | 423 | $ | 5,154 | $ | 7,810 | ||||||||||||||
Supplemental_Cash_Flow_Disclos1
Supplemental Cash Flow Disclosures (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ||||||||||||
Schedule of Cash Flow, Supplemental Disclosures | The summary of supplemental cash flow disclosures as of and for the years ended December 31 is as follows (in millions): | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Supplemental disclosure of cash flow information - | ||||||||||||
Interest paid, net of amounts capitalized | $ | 194 | $ | 209 | $ | 208 | ||||||
Supplemental disclosure of non-cash investing and financing transactions: | ||||||||||||
Accruals related to property, plant and equipment additions | $ | 30 | $ | 25 | $ | 150 | ||||||
Capital and financial lease obligations incurred | $ | 7 | $ | 419 | $ | — | ||||||
Unaudited_Quarterly_Operating_1
Unaudited Quarterly Operating Results (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Unaudited Quarterly Operating Results [Abstract] | ||||||||||||||||
Unaudited Quarterly Operating Results | ||||||||||||||||
Three-Month Periods Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2014 | 2014 | 2014 | 2014 | |||||||||||||
Operating revenues | $ | 417 | $ | 595 | $ | 867 | $ | 458 | ||||||||
Operating income | 55 | 145 | 307 | 34 | ||||||||||||
Net income | 6 | 62 | 168 | (9 | ) | |||||||||||
Three-Month Periods Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||||
Operating revenues | $ | 372 | $ | 537 | $ | 786 | $ | 397 | ||||||||
Operating income | 58 | 141 | 305 | (69 | ) | |||||||||||
Net income | 5 | 59 | 164 | (83 | ) | |||||||||||
Organization_and_Operations_De
Organization and Operations (Details) (BHE Merger [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
BHE Merger [Member] | ||
Other Ownership Interests [Line Items] | ||
One-time bill credit | $15 | |
Number of days for retail customers credit | 30 days | |
Return on common equity percentage | 10.00% | |
Recovery of loss on revenues | 50.00% | 50.00% |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for Doubtful Accounts [Line Items] | |||
Ending Balance | $14 | $8 | $8 |
Allowance for Doubtful Accounts [Member] | |||
Allowance for Doubtful Accounts [Line Items] | |||
Beginning Balance | 8 | 8 | 7 |
Provision for Doubtful Accounts | 14 | 15 | 15 |
Allowance for Doubtful Accounts Receivable, Write-offs | -8 | -15 | -14 |
Ending Balance | $8 | $8 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Inventory (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounting Policies [Abstract] | ||
Material and supplies inventory | $58 | $54 |
Energy related inventory | $30 | $19 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Property, Plant and Equipment, Net (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
AFUDC rate | 8.09% |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Income Taxes (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounting Policies [Abstract] | ||
Regulatory asset, deferred income taxes | $156 | $165 |
Regulatory liability, deferred income taxes | $3 | $4 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies - Revenue Recognition (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounting Policies [Abstract] | ||
Unbilled revenue | $111 | $103 |
MergerRelated_Activities_Detai
Merger-Related Activities (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition [Line Items] | |||
Merger-related | $0 | $52 | $0 |
BHE Merger [Member] | |||
Business Acquisition [Line Items] | |||
One-time bill credit | 15 | ||
Merger-related | 52 | ||
Change in control costs [Member] | BHE Merger [Member] | |||
Business Acquisition [Line Items] | |||
Merger-related | 15 | ||
Stock compensation plan costs [Member] | BHE Merger [Member] | |||
Business Acquisition [Line Items] | |||
Merger-related | 18 | ||
Investment banker fees [Member] | BHE Merger [Member] | |||
Business Acquisition [Line Items] | |||
Merger-related | 15 | ||
Legal fees and other expenses [Member] | BHE Merger [Member] | |||
Business Acquisition [Line Items] | |||
Merger-related | $4 |
Property_Plant_and_Equipment_N2
Property, Plant and Equipment, Net (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 31, 2012 |
Utility plant in-service: | ||||
Utility plant in-service, net | $6,883 | $6,899 | ||
Construction work-in-progress | 120 | 93 | ||
Property, plant and equipment, net | 7,003 | 6,992 | ||
Average depreciation and amortization rate | 3.30% | 3.30% | 3.20% | |
Asset impairment charge | 29 | 31 | ||
Asset Impairment Charges, 2014 PUCN General Rate Case | 19 | |||
Telecommunication Towers [Member] | ||||
Utility plant in-service: | ||||
Proceeds from sale of assets, restricted to ratepayer rebates | 27 | |||
Proceeds from sale of telecommunication towers | 32 | |||
Gain (Loss) on Disposition of Property Plant Equipment | 6 | |||
Regulated Operation [Member] | ||||
Utility plant in-service: | ||||
Generation | 4,034 | 3,789 | ||
Distribution | 3,018 | 2,936 | ||
Transmission | 1,757 | 1,743 | ||
General intangible plant | 669 | 645 | ||
Utility plant in-service | 9,478 | 9,113 | ||
Accumulated depreciation and amortization | 2,599 | 2,217 | ||
Utility plant in-service, net | 6,879 | 6,896 | ||
Unregulated Operation [Member] | ||||
Utility plant in-service: | ||||
Utility plant in-service, net | $4 | $3 |
Jointly_Owned_Utility_Faciliti2
Jointly Owned Utility Facilities (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | |
Jointly Owned Utility Plant Interests [Line Items] | ||
Facility in Service | $649 | |
Accumulated Depreciation and Amortization | 220 | |
Construction Work-in-Progress | 8 | |
ON Line Transmission Line | 500 | |
Silverhawk Generating Station [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 75.00% | |
Facility in Service | 241 | |
Accumulated Depreciation and Amortization | 55 | |
Construction Work-in-Progress | 5 | |
Navajo Generating Station [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 11.00% | |
Facility in Service | 198 | |
Accumulated Depreciation and Amortization | 135 | |
Construction Work-in-Progress | 2 | |
ON Line Transmission Line [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Company Share | 24.00% | [1] |
Facility in Service | 142 | [1] |
Accumulated Depreciation and Amortization | 3 | [1] |
Construction Work-in-Progress | 1 | [1] |
Other Transmission Facilities [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Jointly Owned Utility Plant, Proportionate Ownership Percentage Share | Various | |
Facility in Service | 68 | |
Accumulated Depreciation and Amortization | 27 | |
Construction Work-in-Progress | $0 | |
ON Line Transmission Line [Member] | ||
Jointly Owned Utility Plant Interests [Line Items] | ||
Utilities Aggregate Share Transmission Line Project | 25.00% | |
GBT-South's share in the ON Line project (in hundredths) | 75.00% | |
[1] | was placed in-service December 2013. The Company and Sierra Pacific entered into a long-term transmission use agreement, in which the Company and Sierra Pacific have 25% interest and Great Basin Transmission South, LLC has 75% interest. Refer to NoteB 8 for additional information. |
Regulatory_Matters_Regulatory_
Regulatory Matters - Regulatory Assets (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Regulatory Assets [Line Items] | ||||
Total regulatory assets | $1,126 | $1,138 | ||
Regulatory assets | 57 | 81 | ||
Regulatory assets, noncurrent | 1,069 | 1,057 | ||
Regulatory assets not earning a return on investment | 788 | 598 | ||
Deferred income taxes [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P29Y | [1] | ||
Total regulatory assets | 156 | [1] | 165 | [1] |
Merger costs from 1999 merger [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P29Y | |||
Total regulatory assets | 149 | 155 | ||
Deferred excess energy costs [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P2Y | [2] | ||
Total regulatory assets | 129 | [2] | 159 | [2] |
Decommissioning costs [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P8Y | |||
Total regulatory assets | 113 | 25 | ||
Abandoned projects [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P5Y | |||
Total regulatory assets | 107 | 115 | ||
Employee benefit plans [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P10Y | |||
Total regulatory assets | 85 | 83 | ||
Asset retirement obligations [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P7Y | |||
Total regulatory assets | 80 | 98 | ||
Legacy meters [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P18Y | |||
Total regulatory assets | 68 | 65 | ||
Deferred operating costs [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P28Y | |||
Total regulatory assets | 61 | 63 | ||
Demand side resources [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P3Y | |||
Total regulatory assets | 41 | 70 | ||
ON Line Transmission Line [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P39Y | |||
Total regulatory assets | 38 | 0 | ||
Loss on Reacquired Debt [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P19Y | |||
Total regulatory assets | 33 | 35 | ||
Unrealized loss on regulated derivative contracts [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | P3Y | |||
Total regulatory assets | 30 | 47 | ||
Other [Member] | ||||
Regulatory Assets [Line Items] | ||||
Regulatory asset amortization period years | Various | |||
Total regulatory assets | $36 | $58 | ||
[1] | Amounts represent income tax benefits related to accelerated tax depreciation and certain property-related basis differences that were previously flowed through to customers and will be included in regulated rates when the temporary differences reverse. | |||
[2] | Represents amounts not yet recognized as a component of net periodic benefit cost that are expected to be included in regulated rates when recognized. |
Regulatory_Matters_Regulatory_1
Regulatory Matters - Regulatory Liabilities (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Regulatory Liabilities [Line Items] | ||||
Total regulatory liabilities | $366 | $386 | ||
Current liabilities | 40 | 74 | ||
Other long-term liabilities | 326 | 312 | ||
Cost of removal [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory liability amortization period years | P36Y | [1] | ||
Total regulatory liabilities | 295 | [1] | 273 | [1] |
Energy efficiency program [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory liability amortization period years | P1Y | |||
Total regulatory liabilities | 25 | 57 | ||
Renewable energy program [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory liability amortization period years | P1Y | |||
Total regulatory liabilities | 15 | 18 | ||
Other [Member] | ||||
Regulatory Liabilities [Line Items] | ||||
Regulatory liability amortization period years | Various | |||
Total regulatory liabilities | $31 | $38 | ||
[1] | Amounts represent estimated costs, as accrued through depreciation rates and exclusive of ARO liabilities, of removing regulated property, plant and equipment in accordance with accepted regulatory practices. Amounts are deducted from rate base or otherwise accrue a carrying cost. |
Regulatory_Matters_General_Dis
Regulatory Matters - General Disclosures (Details) (USD $) | 1 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2014 |
PUCN [Member] | |||
Public Utilities, General Disclosures [Line Items] | |||
Energy efficiency implementation rates, disallowed revenue | $11 | $12 | |
BHE Merger [Member] | |||
Public Utilities, General Disclosures [Line Items] | |||
Recovery of loss on revenues | 50.00% | 50.00% | |
Energy Efficiency Rate Case [Member] | PUCN [Member] | |||
Public Utilities, General Disclosures [Line Items] | |||
Customer Refund Liability, Current | 11 | ||
General Rate Case [Member] | PUCN [Member] | |||
Public Utilities, General Disclosures [Line Items] | |||
Public Utilities, Requested Rate Increase (Decrease), Amount | 38 | ||
Public Utilities, Average Price Increase (Decrease), Amount | 2.00% | ||
Public Utilities, Property, Plant and Equipment, Amount of Disallowed Costs for Recently Completed Plant | 15 | ||
Amount of Impairment to Carrying Amount of Regulatory Assets | 5 | ||
Public Utilities, Gain on Sale | 5 | ||
2013 FERC Transmission Rate Case [Member] | Federal Energy Regulatory Commission [Member] | |||
Public Utilities, General Disclosures [Line Items] | |||
Customer Refund Liability, Current | 7 | ||
Requested rate increase (decrease), amended, amount | 17 | ||
Public utilities, approved rate increase (decrease), amount | 4 |
Credit_Facility_Details
Credit Facility (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Maximum borrowing capacity | $400,000,000 | |
Drawings outstanding | 0 | 0 |
Letter of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Drawings outstanding | $0 | $6,000,000 |
Senior unsecured credit facility, $400 million, expiring March 2018 [Member] | Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Debt to capitalization ratio | 0.68 | 0.68 |
LongTerm_Debt_Summary_Details
Long-Term Debt - Summary (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Par value | $3,586 | |
Total long-term debt | 3,576 | 3,577 |
Long-term Debt and Capital and Financial Lease Obligations, Current | 264 | 22 |
Long-term Debt and Capital and Financial Lease Obligations | 3,312 | 3,555 |
Long-term Debt and Capital and Financial Lease Obligations, Including Current Maturities | 3,576 | 3,577 |
Mortgage Securities, 5.875%, Series L due 2015 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 250 | |
Total long-term debt | 250 | 250 |
Stated interest rate | 5.88% | 5.88% |
Mortgage Securities, 5.950%, Series M due 2016 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 210 | |
Total long-term debt | 210 | 210 |
Stated interest rate | 5.95% | 5.95% |
Mortgage Securities, 6.500%, Series O due 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 325 | |
Total long-term debt | 323 | 324 |
Stated interest rate | 6.50% | 6.50% |
Mortgage Securities, 6.500%, Series S due 2018 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 499 | |
Total long-term debt | 498 | 499 |
Stated interest rate | 6.50% | 6.50% |
Mortgage Securities, 7.125%, Series V due 2019 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 500 | |
Total long-term debt | 501 | 501 |
Stated interest rate | 7.13% | 7.13% |
Mortgage Securities, 6.650%, Series N due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 367 | |
Total long-term debt | 361 | 363 |
Stated interest rate | 6.65% | 6.65% |
Mortgage Securities, 6.750%, Series R due 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 349 | |
Total long-term debt | 348 | 349 |
Stated interest rate | 6.75% | 6.75% |
Mortgage Securities, 5.375%, Series X due 2040 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 250 | |
Total long-term debt | 249 | 249 |
Stated interest rate | 5.38% | 5.38% |
Mortgage Securities, 5.450%, Series Y due 2041 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 250 | |
Total long-term debt | 250 | 250 |
Stated interest rate | 5.45% | 5.45% |
Pollution Control Revenue Bonds, Series 2006A due 2032 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 38 | |
Total long-term debt | 38 | 38 |
Pollution Control Revenue Bonds, Series 2006 due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 38 | |
Total long-term debt | 38 | 38 |
Capital lease obligations, 2.75% to 11.60%, due through 2054 [Member] | ||
Debt Instrument [Line Items] | ||
Par value | 510 | |
Total long-term debt | 510 | 506 |
Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 0.45% | |
Minimum [Member] | Pollution Control Revenue Bonds, Series 2006 due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 0.58% | |
Minimum [Member] | Capital lease obligations, 2.75% to 11.60%, due through 2054 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 2.75% | 3.01% |
Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 0.46% | |
Maximum [Member] | Pollution Control Revenue Bonds, Series 2006 due 2036 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 0.63% | |
Maximum [Member] | Capital lease obligations, 2.75% to 11.60%, due through 2054 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 11.60% | 11.60% |
Equipment [Member] | ||
Debt Instrument [Line Items] | ||
Capital Leased Assets, Gross | $1 | $1 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt - Narrative (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||
Jan. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Nov. 30, 2013 | Jul. 31, 2013 | Apr. 30, 2012 | |
Debt Instrument [Line Items] | |||||||||
Eligible Property Subject To Lien Of Mortgages | $3,500,000,000 | ||||||||
Debt required to be tendered | 3,000,000,000 | 3,000,000,000 | |||||||
Redemption price percentage of par | 101.00% | ||||||||
Amount of debt tendered | 5,000,000 | ||||||||
Mortgage securities, 7.375%, Series U due 2014 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Redemption price percentage of par | 100.70% | ||||||||
Amount of debt tendered | 125,000,000 | ||||||||
Notice of redemption | 125,000,000 | ||||||||
Stated interest rate | 7.38% | ||||||||
Industrial Development Refunding Revenue Bonds, Series 2000A, due 2020 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Redemption price percentage of par | 100.00% | ||||||||
Amount of debt tendered | 98,000,000 | ||||||||
Notice of redemption | 100,000,000 | ||||||||
General and Refunding Mortgage Securities, NPC Series I [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Amount of debt tendered | 130,000,000 | ||||||||
Stated interest rate | 6.50% | ||||||||
Draw on credit facility | 120,000,000 | ||||||||
Cash Used To Pay Down Debt | $10,000,000 |
LongTerm_Debt_Maturity_Schedul
Long-Term Debt - Maturity Schedule (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $3,586 | |
Debt Instrument, Unamortized Discount | -8 | |
Long-term Debt | 3,066 | 3,071 |
Executory costs | -148 | |
Capital and Financial Leases, Future Minimum Payments, Interest Included in Payments | -701 | |
Long-term Debt and Capital and Financial Lease Obligations, Repayments of Principal in Next Twelve Months | 325 | |
Long-term Debt and Capital and Financial Lease Obligations, Repayments of Principal in Year Two | 283 | |
Long-term Debt and Capital and Financial Lease Obligations, Repayments of Principal in Year Three | 75 | |
Long-term Debt and Capital and Financial Lease Obligations, Repayments of Principal in Year Four | 897 | |
Long-term Debt and Capital and Financial Lease Obligations, Repayments of Principal in Year Five | 576 | |
Long-term Debt and Capital and Financial Lease Obligations, Repayments of Principal Thereafter | 2,277 | |
Total Long-term Debt Maturities and Capital and Financial Leases Future Minimum Payments | 4,433 | |
Long-term Debt and Capital and Financial Lease Obligations, Including Current Maturities | 3,576 | 3,577 |
Long-term Debt [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 250 | |
Long-term Debt, Maturities, Repayments of Principal Due in Two Years | 210 | |
Long-term Debt, Maturities, Repayments of Principal Due in Three Years | 0 | |
Long-term Debt, Maturities, Repayments of Principal Due in Four Years | 823 | |
Long-term Debt, Maturities, Repayments of Principal Due in Five Years | 500 | |
Long-term Debt, Maturities, Repayments of Principal Due Thereafter | 1,291 | |
Total long-term debt | 3,074 | |
Debt Instrument, Unamortized Discount | -8 | |
Long-term Debt | 3,066 | |
Capital and Financial Lease Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Capital and Financial Leases, Future Minimum Payments Due, Next Twelve Months | 75 | |
Capital and Financial Leases, Future Minimum Payments Due in Two Years | 73 | |
Capital and Financial Leases, Future Minimum Payments Due in Three Years | 75 | |
Capital and Financial Leases, Future Minimum Payments Due in Four Years | 74 | |
Capital and Financial Leases, Future Minimum Payments Due in Five Years | 76 | |
Capital and Financial Leases, Future Payments Due Thereafter | 986 | |
Capital and Financial Leases, Future Minimum Payments Due | 1,359 | |
Executory costs | -148 | |
Capital and Financial Leases, Future Minimum Payments, Interest Included in Payments | -701 | |
Capital and Financial Lease Obligations | $510 |
LongTerm_Debt_Capital_Leases_N
Long-Term Debt - Capital Leases - Narrative (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
option | ||
Building [Member] | ||
Capital Leased Assets [Line Items] | ||
Terms of lease | 30 years | |
Number of renewal options under lease | 5 | |
Number of years In renewal period | 5 years | |
Number of renewal options exercised | 3 | |
Number remaining renewal options under lease | 2 | |
Maximum additional term of lease with remaining extensions | 10 years | |
Capital Leased Assets, Gross | $28 | $39 |
Land and Building [Member] | ||
Capital Leased Assets [Line Items] | ||
Terms of lease | 20 years | |
Number of renewal options under lease | 3 | |
Number of years In renewal period | 10 years | |
Capital Leased Assets, Gross | 8 | 10 |
Long-Term Energy Purchase Contracts [Member] | ||
Capital Leased Assets [Line Items] | ||
Number of years In renewal period | 30 years | |
Capital Leased Assets, Gross | 44 | 45 |
Equipment [Member] | ||
Capital Leased Assets [Line Items] | ||
Terms of lease | 7 years | |
Capital Leased Assets, Gross | 1 | 1 |
ON Line Transmission Line [Member] | ||
Capital Leased Assets [Line Items] | ||
Terms of lease | 41 years | |
Capital Leased Assets, Gross | $418 | $419 |
GBT-South's share in the ON Line project (in hundredths) | 75.00% | |
Utilities Aggregate Share Transmission Line Project | 25.00% | |
Nevada Power Company [Member] | ON Line Transmission Line [Member] | ||
Capital Leased Assets [Line Items] | ||
Utilities Aggregate Share Transmission Line Project | 95.00% | |
Sierra Pacific Power Company [Member] | ON Line Transmission Line [Member] | ||
Capital Leased Assets [Line Items] | ||
Utilities Aggregate Share Transmission Line Project | 5.00% |
Risk_Management_Details
Risk Management (Details) (Commodity Contract [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 | |
In Millions, unless otherwise specified | MWh | MWh | |
Derivatives, Fair Value [Line Items] | |||
Derivative, Net Liability Position, Aggregate Fair Value | 4 | ||
Electricity purchases (sales), net, in megawatt hours [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Nonmonetary Notional Amount | -3,000,000 | -4,000,000 | |
Natural gas purchases, in decatherms [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Nonmonetary Notional Amount | 115,000,000 | 118,000,000 | |
Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | -9 | [1] | -9 |
Not Designated as Hedging Instrument [Member] | Other long-term liabilities [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | -21 | [1] | -38 |
[1] | (1)The Company's commodity derivatives not designated as hedging contracts are included in regulated rates and as of DecemberB 31, 2014 and 2013, a regulatory asset of $30 million and $47 million, respectively, was recorded related to the derivative liability of $30 million and $47 million, respectively. |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | ||
Recurring [Member] | Commodity Contract [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Liability | ($30) | ($47) | ||
Recurring [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | 0 | ||
Recurring [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | 0 | ||
Recurring [Member] | Commodity Contract [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | -30 | [1] | -47 | |
Investment Funds [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investment Funds | 20 | 22 | ||
Investment Funds [Member] | Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investment Funds | 20 | 22 | ||
Investment Funds [Member] | Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investment Funds | 0 | 0 | ||
Investment Funds [Member] | Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Investment Funds | 0 | 0 | ||
Money Market Funds [Member] | Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities | 50 | [2] | ||
Money Market Funds [Member] | Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities | 50 | [2] | ||
Money Market Funds [Member] | Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities | 0 | [2] | ||
Money Market Funds [Member] | Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale Securities | 0 | [2] | ||
Commodity [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability), Net, Value, Period Start | -47 | |||
Fair Value, Measurements with Unobservable Inputs Reconciliation, Recurring Basis, Gain (Loss) Included In Regulatory Assets and Liabilities, Net | 9 | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 8 | |||
Fair Value Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability), Net, Value, Period End | ($30) | |||
[1] | (1)The Company's commodity derivatives not designated as hedging contracts are included in regulated rates and as of DecemberB 31, 2014 and 2013, a regulatory asset of $30 million and $47 million, respectively, was recorded related to the derivative liability of $30 million and $47 million, respectively. | |||
[2] | (1)Amounts are included in other assets on the Consolidated Balance Sheets. The fair value of these money market mutual funds approximates cost. |
Fair_Value_Measurements_Debt_D
Fair Value Measurements - Debt (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt | $3,066 | $3,071 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term Debt, Fair Value | $3,712 | $3,596 |
Other_Net_Details
Other, Net (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $22 | $5 | ($3) |
Interest and dividend income [Member] | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 2 | 5 | 4 |
Donations [Member] | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 0 | 0 | -2 |
Interest Expense on Regulatory Items [Member] | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | 6 | -2 | -7 |
Other, net [Member] | |||
Component of Other Income (Expense), Nonoperating [Line Items] | |||
Other, net | $14 | $2 | $2 |
Income_Taxes_Components_of_Inc
Income Taxes Components of Income Tax Expense (Benefit) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
Current - Federal | $0 | ($1) | ($12) |
Deferred - Federal | 131 | 96 | 151 |
Investment tax credits | -1 | -1 | -1 |
Total income tax expense | $130 | $94 | $138 |
Income_Taxes_Reconciliation_of
Income Taxes Reconciliation of Effective Income Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | |||
Federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
Effects of ratemaking | 0.00% | 3.00% | 0.00% |
Non-deductible BHE Merger related expenses | 1.00% | 1.00% | 1.00% |
Other | 0.00% | 0.00% | -1.00% |
Effective income tax rate | 36.00% | 39.00% | 35.00% |
Income_Taxes_Components_of_Net
Income Taxes Components of Net Deferred Income Tax Liability (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Deferred income tax assets: | ||
Federal net operating loss and credit carryforwards | $158 | $265 |
Capital and financial leases | 178 | 177 |
Employee benefits | 22 | 11 |
Regulatory liabilities | 37 | 4 |
Other | 57 | 85 |
Total deferred income tax assets | 452 | 542 |
Valuation allowance | -2 | -2 |
Total deferred income tax assets, net | 450 | 540 |
Deferred income tax liabilities: | ||
Property related items | -1,175 | -1,145 |
Regulatory assets | -341 | -314 |
Capital and financial leases | -174 | -189 |
Other | -29 | -38 |
Total deferred income tax liabilities | -1,719 | -1,686 |
Net deferred income tax liability | -1,269 | -1,146 |
Reflected as: | ||
Deferred income taxes - current asset | 145 | 152 |
Deferred income taxes - long-term liability | ($1,414) | ($1,298) |
Income_Taxes_Summary_of_Operat
Income Taxes Summary of Operating Loss Carryforwards (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Income Tax Disclosure [Abstract] | |
Net operating loss carryforwards | $420 |
Deferred income taxes on federal net operating loss carryforwards | 147 |
Other tax credits | $11 |
Income_Taxes_Net_Unrecognized_
Income Taxes Net Unrecognized Tax Benefits (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $3 | $4 |
Additions for tax positions of prior years | 0 | 0 |
Reductions for tax positions of prior years | 0 | -1 |
Ending balance | 3 | 3 |
Unrecognized tax benefits that would impact effective tax rate | $2 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Kern River [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Purchases from Related Party | $68,000,000 | $68,000,000 | $66,000,000 |
Due to Affiliate, Current | 5,000,000 | 5,000,000 | |
BHE [Member] | |||
Related Party Transaction [Line Items] | |||
Due from Affiliate, Current | 0 | 2,000,000 | |
PacifiCorp [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Purchases from Related Party | 5,000,000 | 2,000,000 | 62,000,000 |
Due to Affiliate, Current | 4,000,000 | ||
Revenue from Related Parties | 3,000,000 | 3,000,000 | 7,000,000 |
Sierra Pacific Power Company [Member] | |||
Related Party Transaction [Line Items] | |||
Due from Affiliates | 7,000,000 | 3,000,000 | |
Related Party Transaction, Expense Reimbursement | 16,000,000 | 22,000,000 | 22,000,000 |
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party | 20,000,000 | 24,000,000 | 20,000,000 |
Sierra Pacific Power Company [Member] | Electric Distribution [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Purchases from Related Party | 8,000,000 | 1,000,000 | 1,000,000 |
Revenue from Related Parties | 33,000,000 | 36,000,000 | 20,000,000 |
NV Energy, Inc. [Member] | |||
Related Party Transaction [Line Items] | |||
Due to Affiliate, Current | 60,000,000 | ||
Related Party Transaction, Expense Reimbursement | 19,000,000 | 45,000,000 | 27,000,000 |
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party | 1,000,000 | 0 | 1,000,000 |
Accounts Payable [Member] | PacifiCorp [Member] | |||
Related Party Transaction [Line Items] | |||
Due to Affiliate | 0 | ||
Accounts Payable [Member] | Sierra Pacific Power Company [Member] | |||
Related Party Transaction [Line Items] | |||
Due to Affiliate | 0 | 0 | |
Accounts Payable [Member] | NV Energy, Inc. [Member] | |||
Related Party Transaction [Line Items] | |||
Due to Affiliate, Current | 33,000,000 | ||
Accounts Receivable [Member] | PacifiCorp [Member] | |||
Related Party Transaction [Line Items] | |||
Due from Affiliate, Current | 0 | 0 | |
Accounts Receivable [Member] | Sierra Pacific Power Company [Member] | |||
Related Party Transaction [Line Items] | |||
Due from Affiliates | $5,000,000 | $6,000,000 |
Retirement_Plan_and_Postretire2
Retirement Plan and Postretirement Benefits (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Qualified Pension Plan [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Pension and other postretirement benefit contributions | $0 | $0 | $0 |
Non-Qualified Pension Plans [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Pension and other postretirement benefit contributions | 0 | 0 | |
Other Postretirement Plans [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Pension and other postretirement benefit contributions | 0 | 0 | |
NV Energy, Inc. [Member] | Qualified Pension Plan [Member] | Other assets [Member] | |||
Amounts Recognized in Balance Sheet [Abstract] | |||
Other assets | 0 | 13 | |
NV Energy, Inc. [Member] | Qualified Pension Plan [Member] | Other long-term liabilities [Member] | |||
Amounts Recognized in Balance Sheet [Abstract] | |||
Other long-term liabilities | -23 | 0 | |
NV Energy, Inc. [Member] | Non-Qualified Pension Plans [Member] | Customer deposits and other [Member] | |||
Amounts Recognized in Balance Sheet [Abstract] | |||
Customer deposits and other | -1 | -4 | |
NV Energy, Inc. [Member] | Non-Qualified Pension Plans [Member] | Other long-term liabilities [Member] | |||
Amounts Recognized in Balance Sheet [Abstract] | |||
Other long-term liabilities | -9 | -8 | |
NV Energy, Inc. [Member] | Other Postretirement Plans [Member] | Other long-term liabilities [Member] | |||
Amounts Recognized in Balance Sheet [Abstract] | |||
Other long-term liabilities | $1 | ($7) |
Asset_Retirement_Obligation_By
Asset Retirement Obligation By Type (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Asset Retirement Obligations By Type [Line Items] | |||
Total asset retirement obligations | $86 | $100 | $60 |
Evaporative Ponds and Dry Ash Landfills [Member] | |||
Asset Retirement Obligations By Type [Line Items] | |||
Total asset retirement obligations | 25 | 48 | |
Waste water remediation [Member] | |||
Asset Retirement Obligations By Type [Line Items] | |||
Total asset retirement obligations | 53 | 36 | |
Asbestos [Member] | |||
Asset Retirement Obligations By Type [Line Items] | |||
Total asset retirement obligations | 3 | 4 | |
Other [Member] | |||
Asset Retirement Obligations By Type [Line Items] | |||
Total asset retirement obligations | $5 | $12 |
Asset_Retirement_Obligations_C
Asset Retirement Obligations Change in Asset Retirement Obligations (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Asset Retirement Obligation Disclosure [Abstract] | ||
Asset Retirement Obligation, Current | $14 | $0 |
Asset Retirement Obligations, Noncurrent | 72 | 100 |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Beginning balance | 100 | 60 |
Revision of estimate | -18 | 37 |
Accretion | 4 | 3 |
Ending balance | $86 | $100 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Commitments Table (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Contractual Obligation [Line Items] | |
Total commitments, Due in Next Twelve Months | $762 |
Total commitments, Due in Second Year | 571 |
Total commitments, Due in Third Year | 487 |
Total commitments, Due in Fourth Year | 413 |
Total commitments, Due in Fifth Year | 423 |
Total commitments, Due after Thereafter | 5,154 |
Total commitments | 7,810 |
Fuel, capacity and transmission contract commitments [Member] | |
Contractual Obligation [Line Items] | |
Purchase Obligation, Due in Next Twelve Months | 607 |
Purchase Obligation, Due in Second Year | 447 |
Purchase Obligation, Due in Third Year | 363 |
Purchase Obligation, Due in Fourth Year | 289 |
Purchase Obligation, Due in Fifth Year | 290 |
Purchase Obligation, Due Thereafter | 3,058 |
Purchase Obligation | 5,054 |
Fuel, capacity and transmission contract commitments, Not commercially operable [Member] | |
Contractual Obligation [Line Items] | |
Purchase Obligation, Due in Next Twelve Months | 65 |
Purchase Obligation, Due in Second Year | 79 |
Purchase Obligation, Due in Third Year | 80 |
Purchase Obligation, Due in Fourth Year | 81 |
Purchase Obligation, Due in Fifth Year | 88 |
Purchase Obligation, Due Thereafter | 1,883 |
Purchase Obligation | 2,276 |
Capital Addition Purchase Commitments [Member] | |
Contractual Obligation [Line Items] | |
Purchase Obligation, Due in Next Twelve Months | 42 |
Purchase Obligation, Due in Second Year | 0 |
Purchase Obligation, Due in Third Year | 0 |
Purchase Obligation, Due in Fourth Year | 0 |
Purchase Obligation, Due in Fifth Year | 0 |
Purchase Obligation, Due Thereafter | 0 |
Purchase Obligation | 42 |
Operating Leases, Easements, Maintenance and Service [Member] | |
Contractual Obligation [Line Items] | |
Purchase Obligation, Due in Next Twelve Months | 9 |
Purchase Obligation, Due in Second Year | 7 |
Purchase Obligation, Due in Third Year | 6 |
Purchase Obligation, Due in Fourth Year | 7 |
Purchase Obligation, Due in Fifth Year | 7 |
Purchase Obligation, Due Thereafter | 52 |
Purchase Obligation | 88 |
Maintenance, service and other contracts [Member] | |
Contractual Obligation [Line Items] | |
Purchase Obligation, Due in Next Twelve Months | 39 |
Purchase Obligation, Due in Second Year | 38 |
Purchase Obligation, Due in Third Year | 38 |
Purchase Obligation, Due in Fourth Year | 36 |
Purchase Obligation, Due in Fifth Year | 38 |
Purchase Obligation, Due Thereafter | 161 |
Purchase Obligation | $350 |
Commitments_and_Contingencies_3
Commitments and Contingencies - Narrative (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-14 |
kV | MW | ||||
Loss Contingencies [Line Items] | |||||
ON Line Transmission Line | 500 | ||||
Amount awarded unpaid rent | $1 | ||||
Amount awarded inverse condemnation and interest | 5 | ||||
Total judgment amount | 12 | ||||
Loss Contingency, Amount of Bond Posted | 12 | ||||
Transmission Line | 230 | ||||
Rent expense for power purchase agreements meeting definition of operating lease | 245 | 400 | 353 | ||
Operating leases rent expense | $10 | $9 | $10 | ||
300 Megawatts of Renewable Energy [Member] | |||||
Loss Contingencies [Line Items] | |||||
New Generation Capacity | 300 | ||||
272 Megawatts of Renewable Energy [Member] | |||||
Loss Contingencies [Line Items] | |||||
New Generation Capacity | 272 | ||||
210 Megawatts of Renewable Energy [Member] | |||||
Loss Contingencies [Line Items] | |||||
New Generation Capacity | 210 | ||||
15 Megawatts of Solar Renewable Energy [Member] | |||||
Loss Contingencies [Line Items] | |||||
New Generation Capacity | 15 | ||||
November 2005 Land Investors, LLC [Member] | |||||
Loss Contingencies [Line Items] | |||||
Acres of Land | 2,675 | ||||
November 2005 Land Investors, LLC [Member] | Park Highlands [Member] | |||||
Loss Contingencies [Line Items] | |||||
Rights-of-way, terminated | 6 | ||||
Rights-of-way, complaint filed | 1 | ||||
November 2005 Land Investors, LLC [Member] | Skye Canyon [Member] | |||||
Loss Contingencies [Line Items] | |||||
Rights-of-way, complaint filed | 14 |
Supplemental_Cash_Flow_Disclos2
Supplemental Cash Flow Disclosures (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Supplemental Cash Flow Elements [Abstract] | |||
Interest paid, net of amounts capitalized | $194 | $209 | $208 |
Supplemental disclosure of non-cash investing and financing transactions: | |||
Accruals related to property, plant and equipment additions | 30 | 25 | 150 |
ON Line transmission use financial lease obligation | $7 | $419 | $0 |
Unaudited_Quarterly_Operating_2
Unaudited Quarterly Operating Results (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Unaudited Quarterly Operating Results [Abstract] | |||||||||||
Operating revenue | $458 | $867 | $595 | $417 | $397 | $786 | $537 | $372 | $2,337 | $2,092 | $2,145 |
Operating income | 34 | 307 | 145 | 55 | -69 | 305 | 141 | 58 | 541 | 435 | 602 |
Net income | ($9) | $168 | $62 | $6 | ($83) | $164 | $59 | $5 | $227 | $145 | $258 |