Notes to the Consolidated Financial Statements (unaudited)
11. Natural Gas Sales and Purchases
For the Three Months Ended December 31,
2025
2024
Asset
Asset
(millions)
Commodity Optimization Total
Commodity Optimization Total
NATURAL GAS SALES Realized sales
$
70
$
47
$
117
$
69
$
27
$
96
Change in fair value of natural gas derivative instruments
-
(3)
(3)
-
(2)
(2)
70
44
114
69
25
94
NATURAL GAS PURCHASES Realized purchases (net of change in inventory) Change in fair value of natural gas derivative instruments
(52)
(32)
(84)
(57)
(21)
(78)
-
1
1
3
1
4
(52)
(31)
(83)
(54)
(20)
(74)
$
18
$
13
$
31
$
15
$
5
$
20
For the Nine Months Ended December 31,
2025
2024
Asset
Asset
(millions)
Commodity Optimization Total
Commodity Optimization Total
NATURAL GAS SALES Realized sales
$
111
$
96
$
207
$
114
$
54
$
168
Change in fair value of natural gas derivative instruments
-
1
1
-
(1)
(1)
111
97
208
114
53
167
NATURAL GAS PURCHASES Realized purchases (net of change in inventory) Change in fair value of natural gas derivative instruments
(84)
(74)
(158)
(93)
(45)
(138)
(9)
(1)
(10)
(2)
-
(2)
(93)
(75)
(168)
(95)
(45)
(140)
$
18
$
22
$
40
$
19
$
8
$
27
12. Delivery Revenue
For the Three Months Ended December 31,
For the Nine Months Ended December 31,
(millions)
2025
2024
2025
2024
Basic monthly charge
$
36 63
$
36 59
$
109
$
108
Delivery revenue
95
93
Other
1
1
4
4
$
100
$
96
$
208
$
205
26
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