7. Commitments and contingencies (continued)
During the period, the Corporation entered into commodity contracts for the physical purchase of natural gas that qualify as own-use contracts. As at December 31, 2016 own-use natural gas derivative instruments had the following notional values and maturities:
(millions)
2017
2018
2019
2020
2021
Total
Own-use physical natural gas contracts Notional value $
$
(36)
-
$
(2)
$
(12)
$
(12)
$
(10)
Notional value - estimated undiscounted net cash inflow (outflow)
b. Contingencies
The Corporation is involved in litigation resulting from the 2014 natural gas incident in the community of Regina Beach, Saskatchewan. The Corporation does not expect the outcomes to result in any material financial impact.
8. Unrealized market value adjustments
For the Three Months Ended December 31
For the Nine Months Ended December 31
2016
2015
2016
2015
(millions)
$
(5)
$
(1)
Change in fair value of debt retirement funds
$
1
$
(4) (4)
18
70
Change in fair value of natural gas derivative instruments Change in revaluation of natural gas in storage to net realizable value
(6)
13
27
(1)
(1)
$
26
$
96
$
(6)
$
(9)
9. Natural gas sales and purchases
For the Three Months Ended December 31 2016 2015 Gas Gas
Commodity Marketing Total
(millions)
Commodity Marketing Total
Natural gas sales Natural gas sales to commodity customers
$
73
$
-
$
73
$
81
$
-
$
81
Realized on natural gas derivative instruments
7
41
48
8
41
49
Change in fair value of natural gas derivative instruments
-
(10)
(10)
-
(4)
(4)
80
31
111
89
37
126
Natural gas purchases Realized on natural gas derivative instruments
(67)
(41)
(108)
(72)
(34)
(106)
Change in fair value of natural gas derivative instruments Change in revaluation of natural gas in storage to net realizable value
29
(1)
28
(1)
(1)
(2)
-
13
13
-
(1)
(1)
(38)
(29)
(67)
(73)
(36)
(109)
$
42
$
2
$
44
$
16
$
1
$
17
22
2016-17 THIRD QUARTER REPORT
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