Derivatives And Hedging (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Outstanding Derivative Instruments

Outstanding derivative instruments, excluding contracts accounted for as normal purchase/normal sale, were as follows:



		Quantity
		As of March 31,		As of December 31,
Commodity	Unit of Measure	2025		2024
Natural gas	MMBTU		107,320,000		113,120,000
Purchased power - financial transmission rights	MWh		5,060,910		7,621,183

Schedule Of Fair Value Of Derivative Instruments

The fair value of our derivative instruments, excluding contracts accounted for as normal purchase/normal sale, was as follows:


		Fair Value
		As of March 31,		As of December 31,
	Balance Sheet Location	2025		2024
		(in thousands)
Derivatives in an asset position:
Natural gas futures contracts	Other assets	$	19,957	$	6,448
Financial transmission rights	Other assets		—		2,316
Total Derivatives in an asset position		$	19,957	$	8,764

Derivatives in a liability position:
Natural gas futures contracts	Other liabilities	$	565	$	26,753
Financial transmission rights	Other liabilities		7		—
Total Derivatives in a liability position		$	572	$	26,753

Schedule Of Derivative Instruments On The Statement Of Revenues, Expenses, And Patronage Capital

The Effect of Derivative Instruments on the Condensed Consolidated Statements of Revenues, Expenses, and Patronage Capital for the Three Months Ended March 31, 2025 and 2024


	Amount of Gain						Location of	Amount of Gain (Loss) Reclassified from
	(Loss) Recognized						Gain (Loss)	Regulatory Asset/Liability
	in Regulatory						Reclassified	into Income for the
Derivatives	Asset/Liability for						from Regulatory	Three Months
Accounted for Utilizing	Derivatives as of						Asset/Liability	Ended
Regulatory Accounting	March 31,						into Income	March 31,
	2025			2024				2025			2024
	(in thousands)							(in thousands)
Natural gas futures contracts	$	19,252		$	(67,687	)	Fuel	$	8,741		$	(22,484	)
Purchased power		(8	)		(2,773	)	Purchased power		(5,158	)		(7,849	)
Total	$	19,244		$	(70,460	)	Total	$	3,583		$	(30,333	)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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