Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2015 | Oct. 31, 2015 | Jun. 30, 2015 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | Nevada Power Company | ||
Entity Central Index Key | 71,180 | ||
Current Fiscal Year End Date | --12-31 | ||
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 | 2,015 | ||
Document Fiscal Period Focus | Q3 | ||
Document Type | 10-Q | ||
Amendment Flag | false | ||
Document Period End Date | Sep. 30, 2015 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $ 374 | $ 220 |
Accounts receivable, net | 430 | 243 |
Inventories | 78 | 88 |
Regulatory assets | 0 | 57 |
Deferred income taxes | 56 | 145 |
Other current assets | 46 | 32 |
Total current assets | 984 | 785 |
Property, plant and equipment, net | 6,943 | 7,003 |
Regulatory assets | 1,054 | 1,069 |
Other assets | 65 | 78 |
Total assets | 9,046 | 8,935 |
Current liabilities: | ||
Accounts payable | 252 | 212 |
Accrued interest | 39 | 60 |
Accrued property, income and other taxes | 42 | 30 |
Regulatory liabilities | 136 | 40 |
Current portion of long-term debt and capital lease obligations | 225 | 264 |
Customer deposits | 59 | 55 |
Other current liabilities | 49 | 36 |
Total current liabilities | 802 | 697 |
Long-term debt and capital lease obligations | 3,091 | 3,312 |
Regulatory liabilities | 294 | 326 |
Deferred income taxes | 1,440 | 1,414 |
Other long-term liabilities | 274 | 298 |
Total liabilities | 5,901 | 6,047 |
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 | 840 | 583 |
Accumulated other comprehensive loss, net | (3) | (3) |
Total shareholder's equity | 3,145 | 2,888 |
Total liabilities and shareholder's equity | $ 9,046 | $ 8,935 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2015 | Dec. 31, 2014 |
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 Oper
Consolidated Statements of Operations - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Income Statement [Abstract] | ||||
Operating revenue | $ 878 | $ 867 | $ 1,944 | $ 1,879 |
Operating costs and expenses: | ||||
Cost of fuel, energy and capacity | 362 | 368 | 879 | 855 |
Operating and maintenance | 101 | 113 | 273 | 282 |
Depreciation and amortization | 74 | 69 | 222 | 204 |
Property and other taxes | 12 | 10 | 31 | 31 |
Total operating costs and expenses | 549 | 560 | 1,405 | 1,372 |
Operating income | 329 | 307 | 539 | 507 |
Other income (expense): | ||||
Interest expense | (48) | (51) | (141) | (154) |
Allowance for borrowed funds | 1 | 0 | 2 | 0 |
Allowance for equity funds | 1 | 0 | 3 | 0 |
Other, net | 4 | 10 | 15 | 20 |
Total other income (expense) | (42) | (41) | (121) | (134) |
Income before income tax expense | 287 | 266 | 418 | 373 |
Income tax expense | 100 | 98 | 147 | 137 |
Net income | $ 187 | $ 168 | $ 271 | $ 236 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholder's Equity - USD ($) $ in Millions | Total | Common Stock | Other Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss, Net |
Balance (shares) at Dec. 31, 2013 | 1,000 | ||||
Balance at Dec. 31, 2013 | $ 2,890 | $ 0 | $ 2,308 | $ 586 | $ (4) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 236 | 0 | 0 | 236 | 0 |
Other | 1 | $ 0 | 0 | 0 | 1 |
Balance (shares) at Sep. 30, 2014 | 1,000 | ||||
Balance at Sep. 30, 2014 | $ 3,127 | $ 0 | 2,308 | 822 | (3) |
Balance (shares) at Dec. 31, 2014 | 1,000 | 1,000 | |||
Balance at Dec. 31, 2014 | $ 2,888 | $ 0 | 2,308 | 583 | (3) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Net income | 271 | 0 | 0 | 271 | 0 |
Dividends declared | (13) | 0 | 0 | (13) | 0 |
Other | $ (1) | $ 0 | 0 | (1) | 0 |
Balance (shares) at Sep. 30, 2015 | 1,000 | 1,000 | |||
Balance at Sep. 30, 2015 | $ 3,145 | $ 0 | $ 2,308 | $ 840 | $ (3) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash flows from operating activities: | ||
Net income | $ 271 | $ 236 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
(Gain) loss on nonrecurring items | (3) | 15 |
Depreciation and amortization | 222 | 204 |
Allowance for equity funds | (3) | 0 |
Deferred income taxes and amortization of investment tax credits | 123 | 137 |
Amortization of deferred energy | 40 | 64 |
Deferred energy | 133 | (44) |
Amortization of other regulatory assets and liabilities | 16 | 36 |
Other, net | 32 | 31 |
Changes in other operating assets and liabilities: | ||
Accounts receivable and other assets | (232) | (249) |
Inventories | 10 | (1) |
Accounts payable and other liabilities | 13 | 22 |
Net cash flows from operating activities | 622 | 451 |
Cash flows from investing activities: | ||
Capital expenditures | (214) | (147) |
Proceeds from sale of assets | 9 | 0 |
Other, net | 10 | 0 |
Net cash flows from investing activities | (195) | (147) |
Cash flows from financing activities: | ||
Repayments of long-term debt and capital lease obligations | 260 | 10 |
Dividends paid | (13) | 0 |
Net cash flows from financing activities | (273) | (10) |
Net change in cash and cash equivalents | 154 | 294 |
Cash and cash equivalents at beginning of period | 220 | 126 |
Cash and cash equivalents at end of period | $ 374 | $ 420 |
Organization and Operations (No
Organization and Operations (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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"). The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (" GAAP ") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2015 and for the three- and nine-month periods ended September 30, 2015 and 2014 . The results of operations for the three- and nine-month periods ended September 30, 2015 are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in the Company's assumptions regarding significant accounting estimates and policies during the nine-month period ended September 30, 2015 . |
New Accounting Pronouncements (
New Accounting Pronouncements (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Accounting Changes [Text Block] | New Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (" FASB ") issued Accounting Standards Update (" ASU ") No. 2015-03, which amends FASB Accounting Standards Codification (" ASC ") Subtopic 835-30, "Interest - Imputation of Interest." The amendments in this guidance require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability instead of as an asset. This guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. This guidance must be adopted retrospectively, wherein the balance sheet of each period presented should be adjusted to reflect the new guidance. 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 May 2014, the FASB issued ASU No. 2014-09, which creates FASB 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. In August 2015, the FASB issued ASU No. 2015-14, which defers the effective date of ASU No. 2014-09 one year to interim and annual reporting periods beginning after December 15, 2017. 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. |
Property, Plant and Equipment,
Property, Plant and Equipment, Net (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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 (in millions): As of Depreciable Life September 30, December 31, 2015 2014 Utility plant in-service: Generation 25 - 80 years $ 4,158 $ 4,034 Distribution 20 - 65 years 3,083 3,018 Transmission 45 - 65 years 1,781 1,757 General and intangible plant 5 - 65 years 690 669 Utility plant in-service 9,712 9,478 Accumulated depreciation and amortization (2,937 ) (2,599 ) Utility plant in-service, net 6,775 6,879 Other non-regulated, net of accumulated depreciation and amortization 5 - 65 years 4 4 Plant in-service, net 6,779 6,883 Construction work-in-progress 164 120 Property, plant and equipment, net $ 6,943 $ 7,003 |
Regulatory Matters (Notes)
Regulatory Matters (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Regulatory Assets and Liabilities Disclosure [Abstract] | |
Regulatory Matters | Regulatory Matters 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 Public Utilities Commission of Nevada (" 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. 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. 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 to adjust energy efficiency program rates (" EEPR ") and EEIR for over- or under-collected balances, which are effective in October of the same year. The PUCN 's final order approving the BHE Merger stipulated that the Company would not seek recovery of any lost revenue for calendar year 2014 in an amount that exceeded 50% of the lost revenue that the Company could otherwise request. In February 2014, the Company filed an application with the PUCN to reset the EEIR and EEPR . 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, reset on January 1, 2015 and was 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. In February 2015, the Company filed an application to reset the EEIR and EEPR . In August 2015, the PUCN accepted a stipulation for the Company to calculate the base EEIR using a revised methodology for calculating lost revenue and for the Company to make a $5 million reduction to the EEPR revenue requirement to more accurately reflect the actual level of spending and to minimize any over collection from its customers. The reset of the EEIR and EEPR was effective October 1, 2015 and remains in effect through September 30, 2016. The current EEIR liability is $11 million , which is included in current regulatory liabilities on the Consolidated Balance Sheets as of September 30, 2015 . 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 three- and nine-month periods ended September 30, 2014. Additionally, the Company recorded a $5 million gain in other, net on the Consolidated Statement of Operations for the three- and nine-month periods ended September 30, 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 Federal Energy Regulatory Commission (" 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 were issued. |
Employee Benefit Plans (Notes)
Employee Benefit Plans (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plan and Postretirement Benefits | Employee Benefit Plans 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. 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 loss, net. Amounts receivable from (payable to) NV Energy are included on the Consolidated Balance Sheets and consist of the following (in millions): As of September 30, December 31, 2015 2014 Qualified Pension Plan - Other long-term liabilities $ (26 ) $ (23 ) Non-Qualified Pension Plans: Other current liabilities (1 ) (1 ) Other long-term liabilities (9 ) (9 ) Other Postretirement Plans - Other long-term liabilities 1 1 |
Risk Management (Notes)
Risk Management (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
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 commodity price risk 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 Note 7 for additional information on derivative contracts. The following table, which reflects master netting arrangements and 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 September 30, 2015 Commodity liabilities (1) $ (9 ) $ (16 ) $ (25 ) As of December 31, 2014 Commodity liabilities (1) $ (9 ) $ (21 ) $ (30 ) (1) The Company's commodity derivatives not designated as hedging contracts will be included in regulated rates when settled and as of September 30, 2015 and December 31, 2014 , a regulatory asset of $25 million and $30 million , respectively, was recorded related to the derivative liability of $25 million and $30 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 (in millions): Unit of September 30, December 31, Measure 2015 2014 Electricity sales Megawatt hours (3 ) (3 ) Natural gas purchases Decatherms 157 115 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 or 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 September 30, 2015 , 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 as of September 30, 2015 and December 31, 2014 , 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) | 9 Months Ended |
Sep. 30, 2015 | |
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 Financial Statements 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 September 30, 2015 Assets - investment funds $ 9 $ — $ — $ 9 Liabilities - commodity derivatives $ — $ — $ (25 ) $ (25 ) As of December 31, 2014 Assets - investment funds $ 20 $ — $ — $ 20 Liabilities - commodity derivatives $ — $ — $ (30 ) $ (30 ) 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 estimated fair value of these derivative contracts is a function of underlying forward commodity prices, related volatility, counterparty creditworthiness and duration of the contracts. 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. 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 September 30, 2015 and 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 6 for further discussion regarding the Company's risk management and hedging activities. The Company's investment funds are accounted for as trading 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 (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2015 2014 2015 2014 Beginning balance $ (33 ) $ (33 ) $ (30 ) $ (47 ) Changes in fair value recognized in regulatory assets 2 — (3 ) 12 Purchases — 1 — — Settlements 6 3 8 6 Ending balance $ (25 ) $ (29 ) $ (25 ) $ (29 ) 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 (in millions): As of September 30, 2015 As of December 31, 2014 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 2,818 $ 3,314 $ 3,066 $ 3,712 |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 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 (" SB 123 "), which included, in significant part: • Accelerating the plan to retire 800 megawatts ("MW") 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 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 . In July 2015, the Company filed an amendment to its ERCR Plan with the PUCN. In September 2015, the PUCN approved the filed amendment requesting two renewable power purchase agreements with 100 ‑MW solar photovoltaic generating facilities related to the replacement of coal plants. Each of these agreements were entered into by issuing requests for proposals for the procurement of energy through the competitive solicitation process that was set forth in the Company's ERCR Plan in compliance with SB 123 . In June 2015, the Nevada State Legislature passed Assembly Bill No. 498 , which modified the capacity replacement components of SB 123 . As a result, the Company will not proceed with issuance of a third 100 -MW request for proposal for renewable energy until such time as the PUCN determines the Company has satisfactorily demonstrated a need for such electric generating capacity. 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 posted the required bond of $12 million and appealed to the Nevada Supreme Court. In June 2015, the parties finalized a settlement in this matter, separate from the court order above, and final documents dismissing the claims have been filed with the Eighth District Court. The settlement did not have a material impact to the Company's Consolidated Financial Statements. 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. 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 sought a declaratory order quieting the Company's title to the rights-of-way or in the alternative condemning an easement interest in the property. In June 2015, the parties finalized a settlement in this matter and final documents dismissing the claims have been filed with the Eighth District Court. The settlement did not have a material impact to the Company's Consolidated Financial Statements. 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 sought a declaratory order from the court that the rights-of-way held by the Company are still valid, establish the proper rent, if any, payable by the Company and to identify the proper party to whom rent is due. In June 2015, the parties finalized a settlement in this matter and final documents dismissing the claims have been filed with the Eighth District Court. The settlement did not have a material impact to the Company's Consolidated Financial Statements. 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 the California Department of Water Resources, 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. The California Department of Water Resources 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 federal district court dismissed without prejudice the plaintiff's amended complaint which sought civil penalties. In June 2015, the parties reached a settlement in principle in this matter. In October 2015, the settlement was accepted by the federal district court and did not have a material impact to the Company's Consolidated Financial Statements. |
Property, Plant and Equipment15
Property, Plant and Equipment, Net (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Property, Plant and Equipment, Net [Abstract] | |
Property, Plant, and Equipment, Net | Property, plant and equipment, net consists of the following (in millions): As of Depreciable Life September 30, December 31, 2015 2014 Utility plant in-service: Generation 25 - 80 years $ 4,158 $ 4,034 Distribution 20 - 65 years 3,083 3,018 Transmission 45 - 65 years 1,781 1,757 General and intangible plant 5 - 65 years 690 669 Utility plant in-service 9,712 9,478 Accumulated depreciation and amortization (2,937 ) (2,599 ) Utility plant in-service, net 6,775 6,879 Other non-regulated, net of accumulated depreciation and amortization 5 - 65 years 4 4 Plant in-service, net 6,779 6,883 Construction work-in-progress 164 120 Property, plant and equipment, net $ 6,943 $ 7,003 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 (in millions): As of September 30, December 31, 2015 2014 Qualified Pension Plan - Other long-term liabilities $ (26 ) $ (23 ) Non-Qualified Pension Plans: Other current liabilities (1 ) (1 ) Other long-term liabilities (9 ) (9 ) Other Postretirement Plans - Other long-term liabilities 1 1 |
Risk Management Risk Management
Risk Management Risk Management and Hedging Activities (Tables) (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table, which reflects master netting arrangements and 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 September 30, 2015 Commodity liabilities (1) $ (9 ) $ (16 ) $ (25 ) As of December 31, 2014 Commodity liabilities (1) $ (9 ) $ (21 ) $ (30 ) (1) The Company's commodity derivatives not designated as hedging contracts will be included in regulated rates when settled and as of September 30, 2015 and December 31, 2014 , a regulatory asset of $25 million and $30 million , respectively, was recorded related to the derivative liability of $25 million and $30 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 (in millions): Unit of September 30, December 31, Measure 2015 2014 Electricity sales Megawatt hours (3 ) (3 ) Natural gas purchases Decatherms 157 115 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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 September 30, 2015 Assets - investment funds $ 9 $ — $ — $ 9 Liabilities - commodity derivatives $ — $ — $ (25 ) $ (25 ) As of December 31, 2014 Assets - investment funds $ 20 $ — $ — $ 20 Liabilities - commodity derivatives $ — $ — $ (30 ) $ (30 ) |
Fair Value, Assets and Liabilities Measured on Recurring Basis [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 (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2015 2014 2015 2014 Beginning balance $ (33 ) $ (33 ) $ (30 ) $ (47 ) Changes in fair value recognized in regulatory assets 2 — (3 ) 12 Purchases — 1 — — Settlements 6 3 8 6 Ending balance $ (25 ) $ (29 ) $ (25 ) $ (29 ) |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and estimated fair value of the Company's long‑term debt (in millions): As of September 30, 2015 As of December 31, 2014 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 2,818 $ 3,314 $ 3,066 $ 3,712 |
Property, Plant and Equipment19
Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Utility plant in-service: | ||
Utility plant in-service, net | $ 6,779 | $ 6,883 |
Construction work-in-progress | 164 | 120 |
Property, plant and equipment, net | 6,943 | 7,003 |
Electric Operations [Member] | ||
Utility plant in-service: | ||
Generation | 4,158 | 4,034 |
Distribution | 3,083 | 3,018 |
Transmission | 1,781 | 1,757 |
General and intangible plant | 690 | 669 |
Utility plant in-service | 9,712 | 9,478 |
Accumulated depreciation and amortization | (2,937) | (2,599) |
Utility plant in-service, net | $ 6,775 | $ 6,879 |
Electric Operations [Member] | Electric Generation Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 25 years | 25 years |
Electric Operations [Member] | Electric Generation Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 80 years | 80 years |
Electric Operations [Member] | Electric Distribution [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 20 years | 20 years |
Electric Operations [Member] | Electric Distribution [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 65 years | 65 years |
Electric Operations [Member] | Electric Transmission and Distribution Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 45 years | 45 years |
Electric Operations [Member] | Electric Transmission and Distribution Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 65 years | 65 years |
Electric Operations [Member] | Other Energy Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 5 years | 5 years |
Electric Operations [Member] | Other Energy Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 65 years | 65 years |
Unregulated Operation [Member] | ||
Utility plant in-service: | ||
Utility plant in-service, net | $ 4 | $ 4 |
Unregulated Operation [Member] | Other unregulated [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 5 years | 5 years |
Unregulated Operation [Member] | Other unregulated [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 65 years | 65 years |
Regulatory Matters - General Di
Regulatory Matters - General Disclosures (Details) - USD ($) | Jul. 01, 2014 | Sep. 30, 2015 | Aug. 31, 2015 | Oct. 31, 2014 | May. 31, 2013 | Dec. 31, 2014 |
PUCN [Member] | Energy Efficiency Rate Case [Member] | ||||||
Public Utilities, General Disclosures [Line Items] | ||||||
Public Utilities, Reduction in revenue requirement | $ 5,000,000 | |||||
Customer Refund Liability, Current | $ 11,000,000 | |||||
PUCN [Member] | General Rate Case [Member] | ||||||
Public Utilities, General Disclosures [Line Items] | ||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | $ 38,000,000 | |||||
Public Utilities, Average Price Increase (Decrease), Amount | 2.00% | |||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 0 | |||||
Public Utilities, Property, Plant and Equipment, Amount of Disallowed Costs for Recently Completed Plant | $ 15,000,000 | |||||
Amount of Impairment to Carrying Amount of Regulatory Assets | 5,000,000 | |||||
Public Utilities, Gain on Sale | $ 5,000,000 | |||||
Federal Energy Regulatory Commission [Member] | 2013 FERC Transmission Rate Case [Member] | ||||||
Public Utilities, General Disclosures [Line Items] | ||||||
Public Utilities, Approved Rate Increase (Decrease), Amount | $ 4,000,000 | |||||
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount | $ 17,000,000 | |||||
BHE Merger [Member] | ||||||
Public Utilities, General Disclosures [Line Items] | ||||||
Recovery of loss on revenues | 50.00% |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) - NV Energy, Inc. [Member] - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Qualified Pension Plan [Member] | ||
Amounts Recognized in Balance Sheet [Abstract] | ||
Other long-term liabilities | $ (26) | $ (23) |
Non-Qualified Pension Plans [Member] | ||
Amounts Recognized in Balance Sheet [Abstract] | ||
Other long-term liabilities | (9) | (9) |
Other current liabilities | (1) | (1) |
Other Postretirement Plans [Member] | ||
Amounts Recognized in Balance Sheet [Abstract] | ||
Other long-term liabilities | $ 1 | $ 1 |
Risk Management and Hedging Act
Risk Management and Hedging Activities - Balance Sheet Location (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 | |
Commodity Contract [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative, Net Liability Position, Aggregate Fair Value | $ 4 | $ 4 | |
Commodity Contract [Member] | 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 | [1] | 9 | 9 |
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | [1] | 16 | 21 |
Fair Value, Measurements, Recurring [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 25 | 30 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 25 | 30 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity Contract [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Net Regulatory Asset (Liability), Unrealized Loss (Gain) On Derivative Contracts | [1] | 25 | 30 |
Derivative Liability, Fair Value, Gross Liability | [1] | $ 25 | $ 30 |
[1] | The Company's commodity derivatives not designated as hedging contracts will be included in regulated rates when settled and as of September 30, 2015 and December 31, 2014, a regulatory asset of $25 million and $30 million, respectively, was recorded related to the derivative liability of $25 million and $30 million, respectively. |
Risk Management Risk Manageme23
Risk Management Risk Management and Hedging Activities - Derivative Contract Volumes (Details) - Commodity Contract [Member] MWh in Millions, Dth in Millions | Sep. 30, 2015MWhDth | Dec. 31, 2014MWhDth |
Electricity purchases (sales), net, in megawatt hours [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, Nonmonetary Notional Amount | (3) | (3) |
Natural gas purchases, in decatherms [Member] | ||
Notional Amounts of Outstanding Derivative Positions [Line Items] | ||
Derivative, Nonmonetary Notional Amount | Dth | 157 | 115 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment Funds | $ 9 | $ 20 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | (25) | (30) |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment Funds | 9 | 20 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment Funds | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment Funds | 0 | 0 |
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement | $ (25) | $ (30) |
Fair Value of Financial Instrum
Fair Value of Financial Instruments Fair Value Rollforward (Details) - Commodity [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Fair Value Measurement, Net Value | $ (33) | $ (33) | $ (30) | $ (47) |
Changes in fair value recognized in regulatory assets | 2 | 0 | (3) | 12 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 1 | 0 | 0 |
Settlements | 6 | 3 | 8 | 6 |
Fair Value Measurement, Net Value | $ (25) | $ (29) | $ (25) | $ (29) |
Fair Value Measurements - Debt
Fair Value Measurements - Debt (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 2,818 | $ 3,066 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt, fair value | $ 3,314 | $ 3,712 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) $ in Millions | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||
May. 31, 2014MW | Sep. 30, 2013USD ($) | Sep. 30, 2015power_purchase_agreementsMW | Dec. 31, 2013USD ($) | Jun. 30, 2015Rights-of-wayAcreskV | |
Public Utilities, General Disclosures [Line Items] | |||||
Number of Approved Renewable Power Purchase Agreements | power_purchase_agreements | 2 | ||||
Transmission Line | kV | 230 | ||||
November 2005 Land Investors, LLC [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Acres of Land | Acres | 2,675 | ||||
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 | kV | 500 | ||||
Park Highlands [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Rights-of-way, terminated | Rights-of-way | 6 | ||||
Rights-of-way, complaint filed | Rights-of-way | 1 | ||||
Transmission Line | kV | 500 | ||||
Skye Canyon [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
Rights-of-way, complaint filed | Rights-of-way | 14 | ||||
300 Megawatts of Renewable Energy [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
New Generation Capacity | 300 | ||||
272 Megawatts of Renewable Energy [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
New Generation Capacity | 272 | ||||
210 Megawatts of Renewable Energy [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
New Generation Capacity | 210 | ||||
15 Megawatts of Solar Renewable Energy [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
New Generation Capacity | 15 | ||||
200-Megawatt Solar facility [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
New Generation Capacity | 200 | ||||
100 Megawatts of Renewable Energy [Member] | |||||
Public Utilities, General Disclosures [Line Items] | |||||
New Generation Capacity | 100 |