INVESTMENTS AND RELATED PARTY TRANSACTIONS (Tables)

3 Months Ended

Mar. 31, 2025

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investment Unconsolidated Subsidiary

The following tables present changes to our investments in unconsolidated subsidiaries for the periods presented:


	Midway Sunset Cogeneration Company
	(in millions)





Investment, December 31, 2024	$	59
Adjustment to the preliminary purchase price allocation (see Note 2 Aera Merger)	(7)


Investment, March 31, 2025	$	52


	Carbon TerraVault JV
	(in millions)
Investment, December 31, 2024	$	27
Loss from investment in unconsolidated subsidiary	(1)
Contributions	4
Investment, March 31, 2025	$	30

The table below presents the summarized financial information related to our equity method investment in the Carbon TerraVault JV (and does not include amounts we have incurred related to development of our carbon management business, Carbon TerraVault), along with related party transactions for the periods presented.



	March 31,		December 31,
	2025		2024

	(in millions)

Receivable from affiliate(a)	$	43	$	46
Other long-term liabilities - contingent liability(b)	$	109	$	107

(a)The amount of Brookfield's contributions available to us and amounts due to us under a Master Services Agreement (MSA) are reported as receivable from affiliate. At March 31, 2025, the amount of $43 million includes the remaining $39 million of Brookfield's first and second installments of their initial investment which is available to us and $4 million related to the MSA and vendor reimbursements. At December 31, 2024, the amount of $46 million includes $43 million remaining of Brookfield's initial contribution available to us and $3 million related to the MSA and vendor reimbursements.

(b)The contingent liability relates to Carbon TerraVault JV put and call rights with respect to the 26R reservoir.