8. Commitments and contingencies (continued)
The Corporation has entered into commodity contracts for the physical purchase of natural gas that qualify as own- use contracts. As at June 30, 2017 own-use natural gas derivative instruments had the following notional values and maturities for the next five years:
(millions)
2018
2019
2020
2021
2022
Total
Own-use physical natural gas contracts
Notional value
$
(24)
$
(34)
$
(45)
$
(46)
$
(34)
$
(183)
Notional value - estimated undiscounted net cash 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.
9. Unrealized market value adjustments
For the Three Months Ended June 30
2017
2016
(millions)
Change in fair value of debt retirement funds
$
-
$
3
Change in fair value of natural gas derivative instruments Change in revaluation of natural gas in storage to net realizable value
6
43
(4)
11
$
2
$
57
10. Natural gas sales and purchases
For the Three Months Ended June 30 2017
2016 Gas
Gas
Commodity Marketing Total
(millions)
Commodity Marketing Total
Natural gas sales Natural gas sales to commodity customers
$
24
$
-
$
24
$
27
$
-
$
27
Realized on natural gas derivative instruments
-
51
51
1
26
27
Change in fair value of natural gas derivative instruments
-
7
7
-
(14)
(14)
24
58
82
28
12
40
Natural gas purchases Realized on natural gas derivative instruments
(21)
(46)
(67)
(27)
(21)
(48)
Change in fair value of natural gas derivative instruments Change in revaluation of natural gas in storage to net realizable value
1
(2)
(1)
48
9
57
-
(4)
(4)
-
11
11 20
(20)
(52)
(72)
21
(1)
$
4
$
6
$
10
$
49
$
11
$
60
22
2017-18 FIRST QUARTER REPORT
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