0001567683-19-000039 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Jul. 31, 2019
Class of Stock [Line Items]
Document Fiscal Year Focus	2019
Document Type	10-Q
Document Quarterly Report	true
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity Registrant Name	Clearway Energy, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-1777204
Entity Address, Address Line One	300 Carnegie Center, Suite 300
Entity Address, City or Town	Princeton
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08540
City Area Code	609
Local Phone Number	608-1525
Entity Interactive Data Current	Yes
Entity Central Index Key	0001567683
Entity File Number	001-36002
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class A [Member]
Class of Stock [Line Items]
Title of 12(b) Security	Class A Common Stock, par value $0.01
Trading Symbol	CWEN.A
Security Exchange Name	NYSE
Entity common stock, shares outstanding		34,599,645
Common Class B [Member]
Class of Stock [Line Items]
Entity common stock, shares outstanding		42,738,750
Common Class C [Member]
Class of Stock [Line Items]
Title of 12(b) Security	Class C Common Stock, par value $0.01
Trading Symbol	CWEN
Security Exchange Name	NYSE
Entity common stock, shares outstanding		73,325,741
Common Class D [Member]
Class of Stock [Line Items]
Entity common stock, shares outstanding		42,738,750

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating Revenues
Total operating revenues	$ 284	$ 307	$ 501	$ 532
Operating Costs and Expenses
Cost of operations	79	74	163	163
Depreciation and amortization	89	82	173	163
Impairment losses	19	0	19	0
General and administrative	7	6	13	11
Transaction and integration costs	1	1	2	2
Development costs	2	0	3	0
Total operating costs and expenses	197	163	373	339
Operating Income	87	144	128	193
Other Income (Expense)
Equity in earnings of unconsolidated affiliates	11	29	14	33
Other income, net	1	1	4	2
Loss on debt extinguishment	1	0	1	0
Interest expense	(130)	(71)	(231)	(126)
Total other expense, net	(119)	(41)	(214)	(91)
(Loss) Income Before Income Taxes	(32)	103	(86)	102
Income tax expense (benefit)	4	7	(3)	6
Net (Loss) Income	(36)	96	(83)	96
Less: Pre-acquisition net income of Drop Down Assets	0	0	0	4
Net (Loss) Income Excluding Pre-acquisition Net Income of Drop Down Assets	(36)	96	(83)	92
Less: (Loss) Income attributable to noncontrolling interests	(12)	17	(39)	(3)
Net (Loss) Income Attributable to Clearway Energy, Inc.	$ (24)	79	(44)	95
(Losses) Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Common stock, dividends, per share, cash paid (in dollars per share)	$ 0.20
Common Class A [Member]
Other Income (Expense)
Net (Loss) Income Attributable to Clearway Energy, Inc.	$ (8)	$ 27	$ (14)	$ 33
(Losses) Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Weighted average number of common shares outstanding — basic (in dollars per share)	35	35	35	35
Weighted average number of common shares outstanding — diluted (in dollars per share)	35	49	35	49
Earnings per weighted average common (in dollars per share)	$ (0.22)	$ 0.77	$ (0.41)	$ 0.94
Earnings per weighted average common share — diluted (in dollars per share)	(0.22)	0.61	(0.41)	0.80
Common stock, dividends, per share, cash paid (in dollars per share)	$ 0.20	$ 0.309	$ 0.40	$ 0.607
Common Class C [Member]
Other Income (Expense)
Net (Loss) Income Attributable to Clearway Energy, Inc.	$ (16)	$ 52	$ (30)	$ 62
(Losses) Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders
Weighted average number of common shares outstanding — basic (in dollars per share)	73	67	73	66
Weighted average number of common shares outstanding — diluted (in dollars per share)	73	78	73	77
Earnings per weighted average common (in dollars per share)	$ (0.22)	$ 0.77	$ (0.41)	$ 0.94
Earnings per weighted average common share — diluted (in dollars per share)	(0.22)	0.70	(0.41)	0.89
Common stock, dividends, per share, cash paid (in dollars per share)	$ 0.20	$ 0.309	$ 0.40	$ 0.607

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (36)	$ 96	$ (83)	$ 96
Other Comprehensive (Loss) Gain
Unrealized gain on derivatives, net of income tax benefit of $0, $0, $0 and ($3)	5	7	3	24
Other comprehensive gain	5	7	3	24
Comprehensive (Loss) Income	(31)	103	(80)	120
Less: Pre-acquisition net income of Drop Down Assets	0	0	0	4
Less: Comprehensive (loss) income attributable to noncontrolling interests	(10)	21	(38)	10
Comprehensive (Loss) Income Attributable to Clearway Energy, Inc.	$ (21)	$ 82	$ (42)	$ 106

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Unrealized (loss) gain on derivatives, income tax expense/ (benefit)	$ 0	$ 0	$ 0	$ (3)

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 93	$ 407
Restricted cash	203	176
Accounts receivable — trade	126	104
Accounts receivable — affiliate	1	0
Inventory	49	40
Prepayments and other current assets	26	29
Total current assets	498	756
Property, plant and equipment, net	5,602	5,245
Other Assets
Equity investments in affiliates	1,165	1,172
Intangible assets, net	1,121	1,156
Derivative instruments	0	8
Deferred income taxes	62	57
Right of use assets, net	183	0
Other non-current assets	100	106
Total other assets	2,631	2,499
Total Assets	8,731	8,500
Current Liabilities
Current portion of long-term debt	1,914	535
Accounts payable — trade	62	45
Accounts payable — affiliate	53	19
Derivative instruments	13	4
Accrued interest expense	43	44
Accrued expenses and other current liabilities	42	57
Total current liabilities	2,127	704
Other Liabilities
Long-term debt	4,192	5,447
Derivative instruments	66	17
Long-term lease liabilities	186	0
Other non-current liabilities	106	108
Total non-current liabilities	4,550	5,572
Total Liabilities	6,677	6,276
Commitments and Contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued		0
Class A, Class B, Class C and Class D common stock, $0.01 par value; 3,000,000,000 shares authorized (Class A 500,000,000, Class B 500,000,000, Class C 1,000,000,000, Class D 1,000,000,000); 193,402,886 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 73,325,741, Class D 42,738,750) at June 30, 2019 and 193,251,396 shares issued and outstanding (Class A 34,586,250, Class B 42,738,750, Class C 73,187,646, Class D 42,738,750) at December 31, 2018	1	1
Additional paid-in capital	1,852	1,897
Accumulated deficit	(105)	(58)
Accumulated other comprehensive loss	(16)	(18)
Noncontrolling interest	322	402
Total Stockholders' Equity	2,054	2,224
Total Liabilities and Stockholders' Equity	$ 8,731	$ 8,500

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flows from Operating Activities
Net (loss) income	$ (83)	$ 96
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	(14)	(33)
Distributions from unconsolidated affiliates	22	32
Depreciation and amortization	173	163
Right of use asset amortization	3
Amortization of financing costs and debt discounts	7	13
Amortization of intangibles and out-of-market contracts	35	35
Adjustment for debt extinguishment	(1)	0
Impairment losses	19	0
Changes in deferred income taxes	(3)	6
Changes in derivative instruments	70	(32)
Loss (gain) on disposal of asset components	7	(1)
Changes in prepaid and accrued liabilities for tolling agreements	(60)	(62)
Changes in other working capital	(27)	(36)
Net Cash Provided by Operating Activities	150	181
Cash Flows from Investing Activities
Acquisitions	(100)	(11)
Partnership interests acquisition	(6)	0
Acquisition of the Drop Down Assets	0	(126)
Buyout of Wind TE Holdco non-controlling interest	(19)	0
Capital expenditures	(96)	(45)
Cash receipts from notes receivable	0	7
Return of investment from unconsolidated affiliates	17	18
Investments in unconsolidated affiliates	(9)	(16)
Other	2	7
Net Cash Used in Investing Activities	(211)	(166)
Cash Flows from Financing Activities
Net distributions from noncontrolling interests	(11)	94
Net proceeds from the issuance of common stock under the ATM	0	75
Payments of dividends and distributions	(77)	(113)
Payments of debt issuance costs	(15)	(5)
Proceeds from the revolving credit facility	22	35
Payments for the revolving credit facility	(22)	(90)
Proceeds from the issuance of long-term debt	493	227
Payments for long-term debt	(616)	(285)
Net Cash Used in Financing Activities	(226)	(62)
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(287)	(47)
Cash, Cash Equivalents and Restricted Cash at beginning of period	583	316
Cash, Cash Equivalents and Restricted Cash at end of period	$ 296	$ 269

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Common Stock, Shares Authorized	3,000,000,000	3,000,000,000
Common Stock, Shares, Issued	193,402,886	193,251,396
Common Stock, Shares, Outstanding	193,402,886	193,251,396
Commitments and Contingencies
Common Class A [Member]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	34,599,645	34,586,250
Common Stock, Shares, Outstanding	34,599,645	34,586,250
Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Class B [Member]
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	42,738,750	42,738,750
Common Stock, Shares, Outstanding	42,738,750	42,738,750
Common Class C [Member]
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	73,325,741	73,187,646
Common Stock, Shares, Outstanding	73,325,741	73,187,646
Common Class D [Member]
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	42,738,750	42,738,750
Common Stock, Shares, Outstanding	42,738,750	42,738,750

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest	CEG [Member]	CEG [Member] Noncontrolling Interest	Tax Equity Investors [Member]	Tax Equity Investors [Member] Noncontrolling Interest
Accumulated OCL beginning balance at Dec. 31, 2017	$ 2,159	$ 0	$ 1	$ 1,843	$ (69)	$ (28)	$ 412
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(4)				16		(20)
Pre-acquisition net income of Buckthorn Solar Drop Down Asset	4						4
Unrealized loss on derivatives, net of tax	17					8	9
Payment for noncontrolling interest	(42)						(42)
Capital contributions, net of distributions, cash										$ 30	$ 30
Distributions and return of capital to NRG, net of contributions, cash	4						4
Proceeds from the issuance of Class C common stock	10			10
Non-cash adjustment for change in tax basis of property, plant and equipment	3			3
Common stock dividends and distributions	(55)			(29)			(26)
Accumulated OCL ending balance at Mar. 31, 2018	2,126	0	1	1,827	(53)	(20)	371
Accumulated OCL beginning balance at Dec. 31, 2017	2,159	0	1	1,843	(69)	(28)	412
Accumulated OCL ending balance at Jun. 30, 2018	2,288	0	1	1,859	26	(17)	419
Accumulated OCL beginning balance at Mar. 31, 2018	2,126	0	1	1,827	(53)	(20)	371
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	96				79		17
Pre-acquisition net income of Buckthorn Solar Drop Down Asset	0						0
Unrealized loss on derivatives, net of tax	7					3	4
Capital contributions, net of distributions, cash										$ 79	$ 79
Stock-based compensation				1				$ 1
Distributions and return of capital to NRG, net of contributions, cash	(15)						(15)
Distributions and return of capital to NRG, net of contributions, non-cash	0
Proceeds from the issuance of Class C common stock	65			65
Non-cash adjustment for change in tax basis of property, plant and equipment	0			(2)			2
Common stock dividends and distributions	(58)			(32)			(26)
Accumulated OCL ending balance at Jun. 30, 2018	2,288	0	1	1,859	26	(17)	419
Accumulated OCL beginning balance at Dec. 31, 2018	2,224	0	1	1,897	(58)	(18)	402
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(47)				(20)		(27)
Unrealized loss on derivatives, net of tax	(2)					(1)	(1)
Payment for noncontrolling interest	(19)			(5)			(14)
Distributions, net of contributions, cash	19						19
Contributions, non-cash								12	$ 12
Common stock dividends and distributions	(39)			(22)			(17)
Accumulated OCL ending balance at Mar. 31, 2019	2,145	0	1	1,870	(80)	(19)	373
Accumulated OCL beginning balance at Dec. 31, 2018	2,224	0	1	1,897	(58)	(18)	402
Accumulated OCL ending balance at Jun. 30, 2019	2,054		1	1,852	(105)	(16)	322
Accumulated OCL beginning balance at Mar. 31, 2019	2,145	0	1	1,870	(80)	(19)	373
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(36)				(24)		(12)
Unrealized loss on derivatives, net of tax	5					3	2
Contributions, non-cash								$ 6	$ 6
Stock-based compensation	0			1	(1)
Distributions and return of capital to NRG, net of contributions, cash	(30)						(30)
Non-cash adjustment for change in tax basis of property, plant and equipment	2			2
Common stock dividends and distributions	(38)			(21)			(17)
Accumulated OCL ending balance at Jun. 30, 2019	$ 2,054		$ 1	$ 1,852	$ (105)	$ (16)	$ 322

Nature of Business	6 Months Ended
Nature of Business	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Clearway Energy, Inc. together with its consolidated subsidiaries, or the Company, is a publicly-traded energy infrastructure investor in and owner of modern, sustainable and long-term contracted assets across North America. The Company is indirectly owned by Global Infrastructure Partners III. Global Infrastructure Management, LLC is an independent fund manager of funds that invests in infrastructure assets in the energy and transport sectors, and Global Infrastructure Partners III is its third equity fund. The Company is sponsored by GIP through GIP's portfolio company, CEG. The Company was previously owned by NRG Energy, Inc., or NRG. On August 31, 2018, NRG transferred its full ownership interest in the Company to CEG, the holder of NRG's renewable energy development and operations platform, and subsequently sold 100% of its interest in CEG to GIP, referred to hereinafter as the GIP Transaction. The Company’s environmentally-sound asset portfolio includes over 5,272 MW of wind, solar and natural gas-fired power generation facilities, as well as district energy systems. Through this diversified and contracted portfolio, the Company endeavors to provide its investors with stable and growing dividend income. Substantially all of the Company's generation assets are under long-term contractual arrangements for the output or capacity from these assets. The thermal assets are comprised of district energy systems and combined heat and power plants that produce steam, hot water and/or chilled water and, in some instances, electricity at a central plant. Certain district energy systems are subject to rate regulation by state public utility commissions (although they may negotiate certain rates) while the other district energy systems have rates determined by negotiated bilateral contracts. The Company consolidates the results of Clearway Energy LLC through its controlling interest, with CEG's interest shown as noncontrolling interest in the financial statements. The holders of the Company's outstanding shares of Class A and Class C common stock are entitled to dividends as declared. CEG receives its distributions from Clearway Energy LLC through its ownership of Clearway Energy LLC Class B and Class D units. The Company currently owns 55.8% of the economic interests of Clearway Energy LLC, with CEG retaining 44.2% of the economic interests of Clearway Energy LLC. The following table represents the structure of the Company as of June 30, 2019: Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the SEC’s regulations for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The following notes should be read in conjunction with the accounting policies and other disclosures as set forth in the notes to the consolidated financial statements included in the Company's 2018 Form 10-K. Interim results are not necessarily indicative of results for a full year. In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all material adjustments consisting of normal and recurring accruals necessary to present fairly the Company's consolidated financial position as of June 30, 2019, and the results of operations, comprehensive income (loss) and cash flows for the six months ended June 30, 2019 and 2018. PG&E Bankruptcy On January 29, 2019, PG&E filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California. Certain subsidiaries of the Company, which hold interests in 6 solar facilities totaling 480 MW and Marsh Landing with capacity of 720 MW, sell the output of their facilities to PG&E under long-term PPAs. The Company consolidates three of the solar facilities and Marsh Landing and records its interest in the other solar facilities as equity method investments. As of June 30, 2019, the Company had $1.4 billion of property, plant and equipment, net, $357 million investments in unconsolidated affiliates and $1.3 billion of borrowings with final maturity dates ranging from 2023 - 2038 related to these facilities. The related subsidiaries of the Company are parties to financing agreements consisting of non-recourse project-level debt and, in certain cases, non-recourse holding company debt. The PG&E Bankruptcy triggered defaults under the PPAs with PG&E and such related project-level financing agreements. As a result, the Company recorded $1.3 billion of principal, net of the related unamortized debt issuance costs, as short-term debt as of June 30, 2019. As of August 5, 2019, the Company's contracts with PG&E have operated in the normal course and the Company currently expects these contracts to continue as such. As of August 5, 2019, the Company has entered into forbearance agreements for certain project-level financing arrangements, and continues to seek forbearance agreements for its other project-level financing arrangements affected by the PG&E Bankruptcy. For further discussion see Note 7, Long-term Debt. Transition Services Agreement As a result of the GIP Transaction, the Company entered into a Transition Services Agreement with NRG, or the NRG TSA, pursuant to which NRG or certain of its affiliates began providing certain services to the Company following the consummation of the GIP Transaction on August 31, 2018, in exchange for the payment of a fee in respect of such services. A material portion of these processes terminated during the second quarter of 2019 and such services were subsequently provided by both the Company and by CEG pursuant to the CEG Master Services Agreements. During the second quarter of 2019, the Company exercised its option to extend the term of the NRG TSA through April 30, 2020 for the remaining services, some of which will be billed at an hourly rate as agreed between the parties. Expenses related to the NRG TSA are recorded in transaction and integration costs in the consolidated statements of operations.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Use of Estimates

The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could be different from these estimates.

Cash and Cash Equivalents, and Restricted Cash

Cash and cash equivalents include highly liquid investments with an original maturity of three months or less at the time of purchase. Cash and cash equivalents held at project subsidiaries was $86 million and $109 million as of June 30, 2019 and December 31, 2018, respectively.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows.



	June 30,		December 31,
	2019		2018
	(in millions)
Cash and cash equivalents	$	93	$	407
Restricted cash	203		176
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$	296	$	583

Restricted cash consists primarily of funds held to satisfy the requirements of certain debt agreements and funds held within the Company's projects that are restricted in their use. As of June 30, 2019, these restricted funds were comprised of $60 million designated to fund operating expenses, approximately $45 million designated for current debt service payments, and $42 million restricted for reserves including debt service, performance obligations and other reserves, as well as capital expenditures. The remaining $56 million is held in distributions reserve accounts, of which $36 million related to subsidiaries affected by the PG&E Bankruptcy as discussed in Note 1, Nature of Business, and may not be distributed during the pendency of the bankruptcy.

Accumulated Depreciation, Accumulated Amortization

The following table presents the accumulated depreciation included in the property, plant and equipment, net, and accumulated amortization included in intangible assets, net, respectively, as of June 30, 2019 and December 31, 2018:



	June 30, 2019		December 31, 2018
	(In millions)
Property, Plant and Equipment Accumulated Depreciation	$	1,731	$	1,590
Intangible Assets Accumulated Amortization	343		308

Dividends to Class A and Class C common stockholders

The following table lists the dividends paid on the Company's Class A common stock and Class C common stock during the six months ended June 30, 2019:



	Second Quarter 2019		First Quarter 2019
Dividends per Class A share	$	0.20	$	0.20
Dividends per Class C share	$	0.20	$	0.20

Dividends on the Class A common stock and Class C common stock are subject to available capital, market conditions, and compliance with associated laws, regulations and other contractual obligations. The Company expects that, based on current circumstances, comparable cash dividends will continue to be paid in the foreseeable future. The Company will continue to evaluate its capital allocation approach during the pendency of the PG&E Bankruptcy, including the Company’s ability to receive unrestricted project distributions.

On August 1, 2019, the Company declared quarterly dividends on its Class A common stock and Class C common stock of $0.20 per share payable on September 17, 2019, to stockholders of record as of September 3, 2019.

Noncontrolling Interests

Clearway Energy LLC Distributions to CEG

The following table lists distributions paid to CEG during the period ended June 30, 2019 on Clearway Energy LLC's Class B and D units:



	Second Quarter 2019		First Quarter 2019
Distributions per Class B Unit	$	0.20	$	0.20
Distributions per Class D Unit	$	0.20	$	0.20

On August 1, 2019, Clearway Energy LLC declared a distribution on its Class B and Class D units of $0.20 per unit payable on September 17, 2019 to unit holders of record as of September 3, 2019.

Revenue Recognition

Revenue from Contracts with Customers

On January 1, 2018, the Company adopted the guidance in ASC 606, Revenue from Contracts with Customers, or Topic 606, using the modified retrospective method applied to contracts which were not completed as of the adoption date, with no adjustment required to the financial statements upon adoption. Following the adoption of the new standard, the Company’s revenue recognition of its contracts with customers remains materially consistent with its historical practice. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company's policies with respect to its various revenue streams are detailed below. In general, the Company applies the invoicing practical expedient to recognize revenue for the revenue streams detailed below, except in circumstances where the invoiced amount does not represent the value transferred to the customer.

Thermal Revenues

Steam and chilled water revenue is recognized as the Company transfers the product to the customer, based on customer usage as determined by meter readings taken at month-end. Some locations read customer meters throughout the month and recognize estimated revenue for the period between meter read date and month-end. For thermal contracts, the Company’s performance obligation to deliver steam and chilled water is satisfied over time and revenue is recognized based on the invoiced amount. The Thermal Business subsidiaries collect and remit state and local taxes associated with sales to their customers, as required by governmental authorities. These taxes are presented on a net basis in the income statement.

As contracts for steam and chilled water are long-term contracts, the Company has performance obligations under these contracts that have not yet been satisfied. These performance obligations have transaction prices that are both fixed and variable, and which vary based on the contract duration, customer type, inception date and other contract-specific factors. For the fixed price contracts, the Company cannot accurately estimate the amount of its unsatisfied performance obligations as it will vary based on customer usage, which will depend on factors such as weather and customer activity.

Power Purchase Agreements

The majority of the Company’s revenues are obtained through PPAs or other contractual agreements. Energy, capacity and where applicable, renewable attributes, from the majority of the Company’s renewable energy assets and certain conventional energy plants is sold through long-term PPAs and tolling agreements to a single counterparty, which is often a utility or commercial customer. The majority of these PPAs are accounted for as leases. ASC 840 requires the minimum lease payments received to be amortized over the term of the lease and contingent rentals are recorded when the achievement of the contingency becomes probable. Management's judgment is required in determining the economic life of each generating facility, in evaluating whether certain lease provisions constitute minimum payments or represent contingent rent and other factors in determining whether a contract contains a lease and whether the lease is an operating lease or capital lease.

Renewable Energy Credits

Renewable energy credits, or RECs, are usually sold through long-term PPAs. Revenue from the sale of self-generated RECs is recognized when the related energy is generated and simultaneously delivered even in cases where there is a certification lag as it has been deemed to be perfunctory.

In a bundled contract to sell energy, capacity and/or self-generated RECs, all performance obligations are deemed to be delivered at the same time and hence, timing of recognition of revenue for all performance obligations is the same and occurs over time. In such cases, it is often unnecessary to allocate transaction price to multiple performance obligations.

Sale of Emission Allowances

The Company records its bank of emission allowances as part of intangible assets. From time to time, management may authorize the transfer of emission allowances in excess of usage from the Company's emission bank to intangible assets held-for-sale for trading purposes. The Company records the sale of emission allowances on a net basis within operating revenue in the Company's consolidated statements of operations.

Disaggregated Revenues

The following tables represent the Company’s disaggregation of revenue from contracts with customers along with the reportable segment for each category for the three and six months ended June 30, 2019:



	Three months ended June 30, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	1		$	166		$	2		$	169
Capacity revenue^(a)	85			—			38			123
Contract amortization	(2		)	(15		)	—			(17		)
Other revenue	—			2			7			9
Total operating revenue	84			153			47			284
Less: Lease revenue	(86		)	(157		)	(1		)	(244		)
Less: Contract amortization	2			15			—			17
Total revenue from contracts with customers	$	—		$	11		$	46		$	57

^(a)The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842:



	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	1	$	157	$	1	$	159
Capacity revenue	85		—		—		85
	$	86	$	157	$	1	$	244



	Six months ended June 30, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	2		$	274		$	3		$	279
Capacity revenue^(a)	164			—			82			246
Contract amortization	(3		)	(30		)	(1		)	(34		)
Mark-to-market for economic hedging activities	—			(7		)	—			(7		)
Other revenue	—			4			13			17
Total operating revenue	163			241			97			501
Less: Mark-to-market for economic hedging activities	—			7			—			7
Less: Lease revenue	(166		)	(256		)	(1		)	(423		)
Less: Contract amortization	3			30			1			34
Total revenue from contracts with customers	$	—		$	22		$	97		$	119

^(a)The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842:



	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	2	$	256	$	1	$	259
Capacity revenue	164		—		—		164
Total	$	166	$	256	$	1	$	423



	Three months ended June 30, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	2		$	188		$	1		$	191
Capacity revenue^(a)	85			—			38			123
Contract amortization	(2		)	(16		)	—			(18		)
Other revenue	—			5			6			11
Total operating revenue	85			177			45			307
Less: Lease revenue	(86		)	(181		)	(1		)	(268		)
Less: Contract amortization	2			16			—			18
Total revenue from contracts with customers	$	1		$	12		$	44		$	57

^(a)The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 840:



	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	1	$	181	$	1	$	183
Capacity revenue	85		—		—		85
	$	86	$	181	$	1	$	268



	Six months ended June 30, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	3		$	300		$	2		$	305
Capacity revenue^(a)	164			—			80			244
Contract amortization	(3		)	(31		)	(1		)	(35		)
Other revenue	—			6			12			18
Total operating revenue	164			275			93			532
Less: Lease revenue	(167		)	(280		)	(1		)	(448		)
Less: Contract amortization	3			31			1			35
Total revenue from contracts with customers	$	—		$	26		$	93		$	119

^(a)The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 840:



	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	3	$	280	$	1	$	284
Capacity revenue	164		—		—		164
	$	167	$	280	$	1	$	448

Contract Amortization

Assets and liabilities recognized from power sales agreements assumed through acquisitions related to the sale of electric capacity and energy in future periods for which the fair value has been determined to be significantly less (more) than market are amortized to revenue over the term of each underlying contract based on actual generation and/or contracted volumes or on a straight-line basis, where applicable.

Contract Balances

The following table reflects the contract assets and liabilities included on the Company’s balance sheet as of June 30, 2019:



(In millions)	June 30, 2019
Accounts receivable, net - Contracts with customers	$	37
Accounts receivable, net - Leases	94
Total accounts receivable, net ^(a)	$	131

^(a) Total accounts receivable, net, excludes $5 million generated at projects affected by PG&E Bankruptcy, which were reclassified to non-current assets as of June 30, 2019.

Income Taxes

Prior to the GIP Transaction, Clearway Energy, Inc. was included in certain NRG consolidated unitary state tax return filings which was reflected in the Clearway Energy, Inc. state effective tax rate. Following the GIP Transaction, Clearway Energy, Inc. will file under a separate standalone methodology, resulting in a higher state effective tax rate due to a larger percentage of activity allocated to high-tax jurisdictions.

Business Acquisitions	6 Months Ended
Business Acquisitions	Jun. 30, 2019
Business Combinations [Abstract]
Business Acquisitions	Business Acquisitions 2019 Acquisitions Duquesne University District Energy System Acquisition — On May 1, 2019, the Company, through its indirect subsidiary ECP Uptown Campus LLC, acquired the Duquesne University district energy system, totaling 87 combined MWt, located in Pittsburgh, PA. As part of the acquisition, Duquesne University entered into a 40-year Energy Services Agreement through which ECP Uptown Campus LLC will fulfill the university's electricity, chilled water and steam requirements in exchange for monthly capacity payments. The transaction is reflected in the Company's Thermal segment. The total investment for the project is approximately $107 million. This includes $100 million related to the purchase of district energy assets, which was funded through a combination of issuance of non-recourse debt in the amount of $95 million, as further discussed in Note 7—Long-term Debt, as well as cash on hand. The acquisition was determined to be as an asset acquisition under ASC 805, with identifiable assets acquired and liabilities assumed recorded at their estimated fair values on the acquisition date. 2018 Acquisitions UPMC Thermal Project Asset Acquisition — On June 19, 2018, upon reaching substantial completion, the Company acquired from NRG the UPMC Thermal Project for cash consideration of $84 million, subject to working capital adjustments. The Company had a payable of $4 million to NRG as of December 31, 2018, $3 million of which was paid in January 2019 upon final completion of the project pursuant to the EPC agreement. The project added 73 MWt of thermal equivalent capacity and 7.5 MW of emergency backup thermal capacity to the Company's portfolio. The transaction is reflected in the Company's Thermal segment. The acquisition was funded with the proceeds from the sale of the Series E Notes and Series F Notes. The assets transferred to the Company relate to interests under common control by NRG and were recorded at book value in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the purchase price and book value of the assets was recorded as a distribution to NRG and decreased the balance of its noncontrolling interest. The acquisition was determined to be an asset acquisition and not a business combination, and therefore no recast of the historical financial information was deemed necessary. Central CA Fuel Cell 1, LLC — On April 18, 2018, the Company acquired the Central CA Fuel Cell 1, LLC project in Tulare, California from FuelCell Energy Finance, Inc., for cash consideration of $11 million, subject to working capital adjustments. The project adds 2.8 MW of thermal capacity to the Company's portfolio, with a 20-year PPA contract with the City of Tulare. The transaction is reflected in the Company's Thermal segment. Buckthorn Solar Drop Down Asset — On March 30, 2018, the Company acquired 100% of NRG's interests in Buckthorn Renewables, LLC, which owned a 154 MW construction-stage utility-scale solar generation project located in Texas, or the Buckthorn Solar Drop Down Asset, for cash consideration of $42 million. The Company also assumed non-recourse debt of $183 million and non-controlling interest of $19 million, as of the acquisition date, attributable to the Class A member. The Company converted $132 million of non-recourse debt to a term loan and the remainder of the outstanding debt was paid down with the contribution from the Class A member in the amount of $80 million upon the project reaching substantial completion in May 2018. The purchase price for the Buckthorn Solar Drop Down Asset was funded with cash on hand and borrowings from the Company's revolving credit facility. The assets and liabilities transferred to the Company related to interests under common control by NRG and were recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the cash paid and historical value of the entities' equity was recorded as a distribution to NRG and decreased the balance of its noncontrolling interest. Since the transaction constituted a transfer of net assets under common control, the guidance requires retrospective combination of the entities for all periods presented as if the combination had been in effect since the inception of common control. The project sells power under a 25-year PPA to the City of Georgetown, Texas, which commenced in July 2018.

Investments Accounted for by the Equity Method and Variable Interest Entities

6 Months Ended

Jun. 30, 2019

Equity Method Investments and Joint Ventures [Abstract]

Investments Accounted for by the Equity Method and Variable Interest Entities

Entities that are Consolidated

The Company has a controlling financial interest in certain entities which have been identified as VIEs under ASC 810, Consolidations, or ASC 810. These arrangements are primarily related to tax equity arrangements entered into with third parties in order to monetize certain tax credits associated with wind facilities, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities, to the consolidated financial statements included in the Company's 2018 Form 10-K.

Repowering Partnership — On August 30, 2018, Wind TE Holdco, an indirect subsidiary of the Company, formed a partnership with Clearway Renew LLC, an indirect subsidiary of CEG, in order to facilitate the repowering of wind facilities of two of its indirect subsidiaries, Elbow Creek Wind Project LLC, or Elbow Creek and Wildorado Wind LLC, or Wildorado Wind. Wind TE Holdco contributed its interests in the two facilities and Clearway Renew LLC contributed a turbine supply agreement, including title to certain components that qualify for production tax credits. Wind TE Holdco is the managing member of the partnership and consolidates the entity, which is a VIE. Clearway Renew LLC is entitled to allocations of 21% of income, which is reflected in Wind TE Holdco’s noncontrolling interests.

On June 14, 2019, Repowering Partnership LLC was replaced with Repowering Partnership II LLC as the owner of the Elbow Creek and Wildorado Wind projects, as well as Repowering Partnership Holdco LLC, which concurrently entered into a financing agreement for construction debt of $219 million, as further described in Note 7, Long-term Debt. In connection with the completion of the financing, and after taking into account the higher cash flow from the reduction in debt service in 2019 resulting from the partial repayment of the Viento financing, the Company committed to invest an estimated $111 million in net corporate capital to fund the repowering of the wind facilities, subject to closing adjustments.

Kawailoa Partnership — On August 31, 2018, the Company entered into an agreement with Clearway Renew LLC, a subsidiary of CEG, to acquire the Class A membership interests in the Kawailoa Solar Partnership LLC, or Kawailoa Partnership, for $9 million in cash consideration. The purpose of the partnership is to own, finance, operate, and maintain the Kawailoa Solar project, a 49 MW utility-scale solar generation project, an indirect subsidiary of the Kawailoa Partnership, which is being developed in Oahu, Hawaii. The Kawailoa Solar project is contracted to sell power under long-term PPAs with Hawaiian Electric Company upon reaching COD. The Kawailoa Solar project is 51% owned by the Kawailoa Partnership, with the remaining 49% owned by a third-party investor. The Kawailoa Partnership consolidates the Kawailoa Solar project through its controlling majority interest.

On May 7, 2019, the Company made an initial capital contribution of $2 million, which represents 20% of its total anticipated capital contributions. The Company assumed non-recourse debt of $120 million, as further described in Note 7, Long-term Debt and non-controlling interests attributable to third parties in the amount of $21 million. The Company recorded a $7 million payable due to Clearway Renew LLC in accounts payable — affiliate on the Company's consolidated balance sheets as of June 30, 2019, which represents the remaining 80% of the equity commitment and will be funded on the date the Kawailoa Solar project reaches substantial completion. The Company, as a Class A member, is the primary beneficiary through its position as managing member and consolidates Kawailoa Partnership. Allocations of income and taxable items are equal to the distributions of available cash, which is currently 95% to the Company and 5% to Clearway Renew LLC.

The Company's acquisition of the Class A membership interests in the Kawailoa Partnership was accounted for as a transfer of assets under common control and was recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the cash paid and payable recorded and the historical value of the assets was recorded as a distribution to CEG and decreased the balance of its noncontrolling interest.

Oahu Partnership — On August 31, 2018, the Company entered into an agreement with Clearway Renew LLC, a subsidiary of CEG, to acquire the Class A membership interests in the Zephyr Oahu Partnership LLC, or Oahu Partnership, for $20 million in cash consideration. The purpose of the partnership is to own, finance, operate, and maintain the Oahu Solar projects, which consist of Lanikuhana and Waipio, utility-scale solar generation projects which represent 15 MW and 46 MW respectively, the indirect subsidiaries of the Oahu Partnership, which are being developed in Oahu, Hawaii. The Oahu Solar projects are contracted to sell power under long-term PPAs with Hawaiian Electric Company, Inc.

On March 8, 2019, the Company made an initial capital contribution of $4 million, which represents 20% of its total anticipated capital contributions. The Company also assumed non-recourse debt of $143 million, as further described in Note 7, Long-term Debt and $18 million of non-controlling interest attributable to a tax equity investor's initial contribution. The Company recorded a payable in the amount of $16 million due to Clearway Renew LLC in accounts payable — affiliate on the Company's consolidated balance sheets as of June 30, 2019. The payable represents the remaining 80% of the equity commitment and will be funded on the date the Oahu Solar LLC projects reach substantial completion. The Company, as a Class A member, is the primary beneficiary through its position as managing member and consolidates Oahu Partnership. Allocations of income and taxable items are equal to the distributions of available cash, which is currently 95% to the Company and 5% to Clearway Renew LLC.

The Company's acquisition of the Class A membership interests in the Oahu Partnership was accounted for as a transfer of assets under common control and was recorded at historical cost in accordance with ASC 805-50, Business Combinations - Related Issues. The difference between the cash paid and payable recorded and the historical value of the assets was recorded as a contribution from CEG and increased the balance of its noncontrolling interest.

Wind TE Holdco Buyout — On January 2, 2019, the Company bought out 100% of the Class A membership interests from the tax equity investor of Wind TE Holdco, for cash consideration of $19 million. The Company recorded the difference between the value of the interest bought and the cash received to equity and allocated it between non-controlling interest and additional paid in capital based on the economic ownership interest between CEG and public interest as of January 2, 2019.

Buckthorn Renewables, LLC — As described in Note 3, Business Acquisitions, on March 30, 2018, the Company acquired 100% of NRG’s interest in a 154 MW construction-stage utility-scale solar generation project, Buckthorn Renewables, LLC, which owns 100% interest in Buckthorn Solar Portfolio, LLC, which in turn owns 100% of the Class B membership interests in Buckthorn Holdings, LLC. Buckthorn Holdings, LLC is a tax equity fund, which is a variable interest entity that is consolidated by Buckthorn Solar Portfolio, LLC. The Company is the primary beneficiary, through its position as managing member, and indirectly consolidates Buckthorn Holdings, LLC through Buckthorn Solar Portfolio, LLC. The Class A member's interest in the tax equity fund is reflected as noncontrolling interest on the Company’s consolidated balance sheet. The Company utilizes the HLBV method to determine the net income or loss allocated to the tax equity investor noncontrolling interest.

Summarized financial information for the Company's consolidated VIEs consisted of the following as of June 30, 2019:



(In millions)	Oahu Solar Partnership		Kawailoa Partnership		Alta Wind TE Holdco		Spring Canyon		Buckthorn Renewables, LLC		Repowering Partnership LLC
Other current and non-current assets	$	35	$	35	$	69	$	3	$	11	$	23
Property, plant and equipment	189		145		393		88		219		266
Intangible assets	—		—		243		—		—		1
Total assets	224		180		705		91		230		290
Current and non-current liabilities	181		161		47		6		137		28
Total liabilities	181		161		47		6		137		28
Noncontrolling interest	19		19		59		38		55		7
Net assets less noncontrolling interests	$	24	$	—	$	599	$	47	$	38	$	255

Entities that are not Consolidated

The Company has interests in entities that are considered VIEs under ASC 810, but for which it is not considered the primary beneficiary. The Company accounts for its interests in these entities under the equity method of accounting, as further described in Note 5, Investments Accounted for by the Equity Method and Variable Interest Entities, to the consolidated financial statements included in the Company's 2018 Form 10-K.

The Company's maximum exposure to loss as of June 30, 2019, is limited to its equity investment in the unconsolidated entities, as further summarized in the table below:



(In millions)	Maximum exposure to loss
Four Brothers Solar, LLC	$	187
GenConn Energy LLC	96
DGPV Holdco 3 LLC	140
DGPV Holdco 1 LLC	83
Granite Mountain Holdings, LLC	67
DGPV Holdco 2 LLC	62
Iron Springs Holdings, LLC	49
RPV Holdco 1 LLC	22

DGPV Holdco 1 LLC — The Company invested $2 million of cash during the six months ended June 30, 2019 into DGPV Holdco 1 LLC. The Company owns approximately 52 MW of distributed solar capacity, based on cash to be distributed, with a weighted average remaining contract life of approximately 17 years as of June 30, 2019.

DGPV Holdco 3 LLC — The Company invested $8 million of cash during the six months ended June 30, 2019 into DGPV Holdco 3 LLC and recorded $19 million due to CEG in accounts payable — affiliate as of June 30, 2019 to be funded in tranches as the project milestones are completed. The Company owns approximately 59 MW of distributed solar capacity, based on cash to be distributed, with a weighted average remaining contract life of approximately 21 years as of June 30, 2019.

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair Value Accounting under ASC 820

ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:


•	Level 1—quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date.


•	Level 2—inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.


•	Level 3—unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date.

In accordance with ASC 820, the Company determines the level in the fair value hierarchy within which each fair value measurement in its entirety falls, based on the lowest level input that is significant to the fair value measurement.

For cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accounts payable — affiliates, accrued expenses and other liabilities, the carrying amounts approximate fair value because of the short-term maturity of those instruments and are classified as Level 1 within the fair value hierarchy.

The estimated carrying amounts and fair values of the Company’s recorded financial instruments not carried at fair market value are as follows:



	As of June 30, 2019				As of December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
(In millions)
Liabilities:
Long-term debt, including current portion^(a)	$	6,183	$	6,121	$	6,043	$	5,943

^(a) Excludes net debt issuance costs, which are recorded as a reduction to long-term debt on the Company's consolidated balance sheets.

The fair value of the Company's publicly-traded long-term debt is based on quoted market prices and is classified as Level 2 within the fair value hierarchy. The fair value of non-publicly traded long-term debt of the Company are based on expected future cash flows discounted at market interest rates, or current interest rates for similar instruments with equivalent credit quality and are classified as Level 3 within the fair value hierarchy. The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of June 30, 2019 and December 31, 2018:



	As of June 30, 2019				As of December 31, 2018
	Level 2		Level 3		Level 2		Level 3
	(In millions)
Long-term debt, including current portion	$	1,507	$	4,614	$	1,620	$	4,323

Recurring Fair Value Measurements

The Company records its derivative assets and liabilities at fair value on its consolidated balance sheet. The following table presents assets and liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis and their level within the fair value hierarchy:



	As of June 30, 2019						As of December 31, 2018
	Fair Value ^(a)						Fair Value ^(a)
(In millions)	Level 2		Level 3		Total		Level 2
Derivative assets:
Interest rate contracts	$	—	$	—	$	—	$	11
Total assets	—		—		—		11
Derivative liabilities:
Commodity contracts	1		7		8		—
Interest rate contracts	71		—		71		21
Total liabilities	$	72	$	7	$	79	$	21

^(a) There were no derivative assets or liabilities classified as Level 1 as of June 30, 2019, and no derivative assets or liabilities classified as Level 1 or Level 3 as of December 31, 2018.

The following table reconciles the beginning and ending balances for instruments that are recognized at fair value in the condensed consolidated financial statements using significant unobservable inputs:



	Three months ended June 30,					Six months ended June 30,
	2019			2018		2019			2018
(In millions)	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)					Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
Beginning balance	$	(7	)	$	—	$	—		$	—
Purchases	—			—		(7		)	—
Ending balance	$	(7	)	$	—	$	(7	)	$	—

There were no gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of June 30, 2019.

Derivative Fair Value Measurements

The Company's contracts are non-exchange-traded and valued using prices provided by external sources. For some of the Company’s energy contracts, management receives quotes from multiple sources. To the extent that multiple quotes are received, the prices reflect the average of the bid-ask mid-point prices obtained from all sources believed to provide the most liquid market for the commodity. The remainder of the assets and liabilities represent contracts for which external sources or observable market quotes are not available. These contracts are valued based on various valuation techniques including, but not limited to, internal models based on a fundamental analysis of the market and extrapolation of the observable market data with similar characteristics. As of June 30, 2019, contracts valued with prices provided by models and other valuation techniques make up 10% of derivative liabilities.

The Company’s significant position classified as Level 3 includes physical power executed in illiquid markets. The significant unobservable inputs used in developing fair value include illiquid power tenors and location pricing, which is derived by extrapolating pricing and as a basis to liquid locations. The tenor pricing and basis spread are based on observable market data when available or derived from historic prices and forward market prices from similar observable markets when not available.

The following tables quantify the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of June 30, 2019:

June 30, 2019

Fair Value

Input/Range

Assets

Liabilities

Valuation Technique

Significant Unobservable Input

Low

High

Weighted Average

(In millions)

Power Contracts

—

Discounted Cash Flow

Forward Market Price (per MWh)

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of June 30, 2019:



Significant Observable Input	Position	Change In Input	Impact on Fair Value Measurement
Forward Market Price Power	Buy	Increase/(Decrease)	Higher/(Lower)
Forward Market Price Power	Sell	Increase/(Decrease)	Lower/(Higher)

The fair value of each contract is discounted using a risk-free interest rate. In addition, a credit reserve is applied to reflect credit risk, which is, for interest rate swaps, calculated based on credit default swaps using the bilateral method. For commodities, to the extent that the net exposure under a specific master agreement is an asset, the Company uses the counterparty’s default swap rate. If the net exposure under a specific master agreement is a liability, the Company uses a proxy of its own default swap rate. For interest rate swaps and commodities, the credit reserve is added to the discounted fair value to reflect the exit price that a market participant would be willing to receive to assume the liabilities or that a market participant would be willing to pay for the assets. As of June 30, 2019, the non-performance reserve was $7 million gain recorded primarily in interest expense in the consolidated statements of operations. It is possible that future market prices could vary from those used in recording assets and liabilities and such variations could be material.

Concentration of Credit Risk

In addition to the credit risk discussion in Note 2, Summary of Significant Accounting Policies, to the consolidated financial statements included in the Company's 2018 Form 10-K, the following is a discussion of the concentration of credit risk for the Company's financial instruments. Credit risk relates to the risk of loss resulting from non-performance or non-payment by counterparties pursuant to the terms of their contractual obligations. The Company monitors and manages credit risk through credit policies that include: (i) an established credit approval process; (ii) monitoring of counterparties' credit limits; (iii) the use of credit mitigation measures such as margin, collateral, prepayment arrangements, or volumetric limits; (iv) the use of payment netting agreements; and (v) the use of master netting agreements that allow for the netting of positive and negative exposures of various contracts associated with a single counterparty. Risks surrounding counterparty performance and credit could ultimately impact the amount and timing of expected cash flows. The Company seeks to mitigate counterparty risk by having a diversified portfolio of counterparties.

Counterparty credit exposure includes credit risk exposure under certain long-term agreements, including solar and other PPAs. As external sources or observable market quotes are not available to estimate such exposure, the Company estimates the exposure related to these contracts based on various techniques including, but not limited to, internal models based on a fundamental analysis of the market and extrapolation of observable market data with similar characteristics. The majority of these power contracts are with utilities with strong credit quality and public utility commission or other regulatory support. However, such regulated utility counterparties can be impacted by changes in government regulations or adverse financial conditions, which the Company is unable to predict.

On January 29, 2019, PG&E filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Certain subsidiaries of the Company sell the output of their facilities to PG&E under long-term PPAs, including interests in 6 solar facilities totaling 480 MW and Marsh Landing with a capacity of 720 MW. The Company consolidates three of the solar facilities and Marsh Landing and records its interest in the other solar facilities as equity method investments. The Company had $22 million in accounts receivable due from PG&E for its consolidated projects, of which $5 million was recorded to non-current assets as of June 30, 2019. As of August 5, 2019, the Company's contracts with PG&E have operated in the normal course and the Company currently expects these contracts to continue as such. The Company has entered into forbearance agreements for certain project-level financing arrangements as of August 5, 2019, and continues seeking similar forbearance agreements with lenders for the remaining project-level financing arrangements affected by the PG&E Bankruptcy. For further discussion see Note 7, Long-term Debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

This footnote should be read in conjunction with the complete description under Note 7, Accounting for Derivative Instruments and Hedging Activities, to the consolidated financial statements included in the Company's 2018 Form 10-K.

Interest Rate Swaps

The Company enters into interest rate swap agreements in order to hedge the variability of expected future cash interest payments. As of June 30, 2019, the Company had interest rate derivative instruments on non-recourse debt extending through 2041, a portion of which were designated as cash flow hedges. Under the interest rate swap agreements, the Company pays a fixed rate and the counterparties to the agreements pay a variable interest rate.

Energy-Related Commodities

As of June 30, 2019, the Company had energy-related derivative instruments extending through 2029. At June 30, 2019, these contracts were not designated as cash flow or fair value hedges.

Volumetric Underlying Derivative Transactions

The following table summarizes the net notional volume buy of the Company's open derivative transactions broken out by type:



		Total Volume
		June 30, 2019			December 31, 2018
Commodity	Units	(In millions)
Power	MWh	(2		)	—
Natural Gas	MMBtu	3			1
Interest	Dollars	$	1,773		$	1,862

Fair Value of Derivative Instruments

The following table summarizes the fair value within the derivative instrument valuation on the balance sheet:



	Fair Value
	Derivative Assets ^(a)				Derivative Liabilities
	June 30, 2019		December 31, 2018		June 30, 2019		December 31, 2018
	(In millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts current	$	—	$	2	$	2	$	1
Interest rate contracts long-term	—		3		12		6
Total Derivatives Designated as Cash Flow Hedges	—		5		14		7
Derivatives Not Designated as Cash Flow Hedges:
Interest rate contracts current	—		1		10		3
Interest rate contracts long-term	—		5		47		11
Commodity contracts current	—		—		1		—
Commodity contracts long-term	—		—		7		—
Total Derivatives Not Designated as Cash Flow Hedges	—		6		65		14
Total Derivatives	$	—	$	11	$	79	$	21

^(a) Derivative Assets balances classified as current are included within the prepayments and other current assets line item of the consolidated balance sheets as of December 31, 2018.

The Company has elected to present derivative assets and liabilities on the balance sheet on a trade-by-trade basis and does not offset amounts at the counterparty master agreement level. As of June 30, 2019 and December 31, 2018, there was no outstanding collateral paid or received. The following tables summarize the offsetting of derivatives by the counterparty master agreement level as of June 30, 2019 and December 31, 2018:



As of June 30, 2019	Gross Amounts of Recognized Assets/Liabilities			Derivative Instruments		Net Amount
Commodity contracts:	(In millions)
Derivative assets	$	—		$	—	$	—
Derivative liabilities	(8		)	—		(8		)
Total commodity contracts	$	(8	)	$	—	$	(8	)
Interest rate contracts:
Derivative assets	—			—		—
Derivative liabilities	(71		)	—		(71		)
Total interest rate contracts	(71		)	—		(71		)
Total derivative instruments	$	(79	)	$	—	$	(79	)



As of December 31, 2018	Gross Amounts of Recognized Assets/Liabilities			Derivative Instruments			Net Amount
Interest rate contracts:	(In millions)
Derivative assets	$	11		$	(1	)	$	10
Derivative liabilities	(21		)	1			(20		)
Total interest rate contracts	(10		)	—			(10		)
Total derivative instruments	$	(10	)	$	—		$	(10	)

Accumulated Other Comprehensive Loss

The following table summarizes the effects on the Company’s accumulated OCL balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax:



	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
	(In millions)
Accumulated OCL beginning balance	$	(40	)	$	(43	)	$	(38	)	$	(60	)
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	14			2			17			6
Mark-to-market of cash flow hedge accounting contracts	(9		)	5			(14		)	18
Accumulated OCL ending balance, net of income tax benefit of $6 and $6, respectively	(35		)	(36		)	(35		)	(36		)
Accumulated OCL attributable to noncontrolling interests	$	(19	)	$	(19	)	$	(19	)	$	(19	)
Accumulated OCL attributable to Clearway Energy, Inc.	$	(16	)	$	(17	)	$	(16	)	$	(17	)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $0	$	(9	)				$	(9	)

Impact of Derivative Instruments on the Statements of Operations

Gains and losses related to the Company's derivatives are recorded in the consolidated statements of operations as follows:



	Three Months Ended June 30,					Six Months Ended June 30,
	2019			2018		2019			2018
	(In millions)
Interest Rate Contracts (Interest Expense)	$	(36	)	$	7	$	(54	)	$	31

A portion of the Company’s derivative commodity contracts relates to its Thermal Business for the purchase of fuel commodities based on the forecasted usage of the thermal district energy centers. Realized gains and losses on these contracts are reflected in the fuel costs that are permitted to be billed to customers through the related customer contracts or tariffs and, accordingly, no gains or losses are reflected in the consolidated statements of operations for these contracts.

During the six months ended June 30, 2019, Elbow Creek entered into a new long-term power hedge, and the impact to the consolidated statements of operations was a $7 million loss for the period recorded in total operating revenues in the Company's consolidated statements of operations.

See Note 5, Fair Value of Financial Instruments, for a discussion regarding concentration of credit risk.

Long-term Debt

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Long-term Debt

This footnote should be read in conjunction with the complete description under Note 10, Long-term Debt, to the consolidated financial statements included in the Company's 2018 Form 10-K. Long-term debt consisted of the following:



	June 30, 2019			December 31, 2018			June 30, 2019, interest rate % ^(a)	Letters of Credit Outstanding at June 30, 2019
	(In millions, except rates)
2019 Convertible Notes	$	—		$	220		3.500
2020 Convertible Notes	45			45			3.250
2024 Senior Notes	500			500			5.375
2025 Senior Notes	600			600			5.750
2026 Senior Notes	350			350			5.000
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023 ^(b)	—			—			L+1.75	45
Project-level debt:
Agua Caliente Borrower 2, due 2038^(c)	38			39			5.430	17
Alpine, due 2022 ^(c)	125			127			L+1.750	16
Alta Wind I - V lease financing arrangements, due 2034 and 2035	859			886			5.696 - 7.015	29
Buckthorn Solar, due 2025	131			132			L+1.750	26
CVSR, due 2037 ^(c)	704			720			2.339 - 3.775	—
CVSR Holdco Notes, due 2037 ^(c)	182			188			4.680	13
Duquesne, due 2059	95			—			4.620
El Segundo Energy Center, due 2023	320			352			L+1.75 - L+2.375	138
Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037	328			328			various	—
Laredo Ridge, due 2028	86			89			L+2.125	10
Kansas South, due 2030 ^(c)	25			26			L+2.00	2
Kawailoa Solar Holdings LLC, due 2026	128			—			L+1.375	4
Marsh Landing, due 2023 ^(c)	249			263			L+2.125	46
Oahu Solar Holdings LLC, due 2026	150			—			L+1.375	10
Repowering Partnership Holdco LLC, due 2020	219			—			L+.85	29
South Trent Wind, due 2028	44			50			L+1.350	12
Tapestry, due 2031 ^(e)	161			151			L+1.375	24
Utah Solar Portfolio, due 2022	260			267			L+2.625	13
Viento, due 2023	42			146			L+2.00	14
Walnut Creek, due 2023	209			222			L+1.75	93
Other	334			343			various	24
Subtotal project-level debt:	4,689			4,329
Total debt	6,184			6,044
Less current maturities	(1,914		)	(535		)
Less net debt issuance costs	(77		)	(61		)
Less discounts ^(d)	(1		)	(1		)
Total long-term debt	$	4,192		$	5,447

^(a) As of June 30, 2019, L+ equals 3 month LIBOR plus x%, except for Viento, due 2023 and Kansas South, due 2030 where L+ equals 6 month LIBOR plus 2.00% and Utah Solar Portfolio, Kawailoa Solar Holdings LLC. Oahu Solar Holdings LLC, Repowering Partnership Holdco LLC where L+ equals 1 month LIBOR plus 2.625%.

^(b) Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement.

^(c) Entities affected by PG&E bankruptcy, see further discussion below.

^(d)Discounts relate to the 2020 Convertible Notes.

^(e)Letters of credit outstanding as of June 30, 2019, include $6 million of letters of credit pending cancellation due to the recent Tapestry refinancing.

The financing arrangements listed above contain certain covenants, including financial covenants that the Company is required to be in compliance with during the term of the respective arrangement. As of June 30, 2019, the Company was in compliance with all of the required covenants, other than any covenants impacted by the PG&E Bankruptcy, as discussed below. The discussion below describes material changes to or additions of long-term debt for the six months ended June 30, 2019.

Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility

As of June 30, 2019, there were no outstanding borrowings under the revolving credit facility and the Company had $45 million of letters of credit outstanding.

2019 Convertible Notes Open Market Repurchases

In January 2019, the Company repurchased a combined aggregate principal amount of $50 million of the 2019 Convertible Notes in open market transactions. The repurchases were funded through a partial repayment of the intercompany note between Clearway Energy Operating LLC and Clearway Energy, Inc. The 2019 Convertible Notes matured on February 1, 2019 and the Company paid off the remaining balance of an aggregate principal amount of $170 million.

Project - level Debt

PG&E Bankruptcy

As discussed in Note 1, Nature of Business, on January 29, 2019, PG&E filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California. Certain subsidiaries of the Company listed in the table above are parties to financing agreements consisting of non-recourse project-level debt and, in certain cases, non-recourse holding company debt. The PG&E bankruptcy filing has triggered defaults under the PPAs with PG&E and such related project-level financing agreements. As a result, the Company recorded approximately $1.3 billion of principal, net of the related unamortized debt issuance costs, with final maturity dates ranging from 2023 - 2038, as short-term debt as of June 30, 2019. In addition, distributions from these projects to Clearway Operating LLC are prohibited under the related debt agreements. As of August 5, 2019, the Company has entered into forbearance agreements for certain project-level financing arrangements, and continues to seek forbearance agreements for its other project-level financing arrangements affected by the PG&E Bankruptcy.

Repowering Partnership Holdco LLC

On June 14, 2019, as part of the Repowering Partnership, Repowering Partnership Holdco LLC entered into a financing agreement for non-recourse debt of $219 million related to the construction for the repowering activities at Wildorado and Elbow Creek. The debt consists of a construction loan at an interest rate of LIBOR plus 0.85% that matures on March 31, 2020. The construction loan is expected be paid at final completion with proceeds from the tax equity investor. Interest on the construction loan is payable monthly in arrears. The proceeds of the debt were utilized to repay $109 million of the outstanding balance, including accrued interest, under the Viento financing agreement, to reimburse Clearway Renew LLC for previous contributions into the Repowering Partnership and pay construction invoices.

Duquesne University

On May 1, 2019, as part of the Duquesne University district energy system acquisition, ECP Uptown Campus LLC issued non-recourse debt of $95 million, excluding financing fees. The debt consists of senior notes at an interest rate of 4.62% that mature on May 1, 2059. Interest on the notes are payable semi-annually in arrears. The proceeds of the debt, along with cash on hand, were utilized to fund the purchase price of the acquisition.

Oahu Solar Holdings LLC

Due to the Company consolidating the Oahu Partnership, as further described in Note 4, Investments Accounted for by the Equity Method and Variable Interest Entities, the Company assumed non-recourse debt of $143 million related to Oahu Solar Holdings, LLC. The debt consists of a construction loan and an ITC bridge loan, both at an interest rate of LIBOR plus 1.375%. The construction loan will convert to a term loan at COD with an expected maturity of October 2026, and the ITC bridge loan will be paid at term conversion with the final proceeds from the tax equity investor. Interest on the construction loan and ITC bridge loan is payable monthly in arrears and will convert to quarterly payments once the construction loan converts to a term loan.

Kawailoa Solar Holdings LLC

Due to the Company consolidating the Kawailoa Partnership, as further described in Note 4, Investments Accounted for by the Equity Method and Variable Interest Entities, the Company assumed non-recourse debt of $120 million related to Kawailoa Solar Holdings, LLC. The debt consists of a construction loan and an ITC bridge loan, both at an interest rate of LIBOR plus 1.375%. The construction loan will convert to a term loan at COD with an expected maturity of October 2026, and the ITC bridge loan will be paid at term conversion with the final proceeds from the tax equity investor. Interest on the construction loan and ITC bridge loan is payable monthly in arrears and will convert to quarterly payments once the construction loan converts to a term loan.

South Trent Refinancing

On June 14, 2019, the Company, through South Trent Wind LLC, refinanced $49 million of non-recourse debt due 2020 at interest rate of LIBOR plus 1.625% by issuing $46 million of new non-recourse financing due 2028 at an interest rate of LIBOR plus 1.350%. As a result of this refinancing, the Company will achieve debt service savings for each year through the remaining life of the debt.

Tapestry Refinancing

On April 29, 2019, the Company, through Tapestry Wind LLC, refinanced $147 million of non-recourse debt due 2021 at interest rate of LIBOR plus 1.75% by issuing $164 million of new non-recourse financing due 2031 at an interest rate of LIBOR plus 1.375%. As a result of this refinancing, the Company will achieve debt service savings for each year through the remaining life of the debt.

Earnings Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Shares issued during the year are weighted for the portion of the year that they were outstanding. Diluted earnings per share is computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive common shares that were outstanding during the period.

The reconciliation of Clearway Energy, Inc.'s basic and diluted earnings per share is shown in the following tables:



	Three months ended June 30,
	2019						2018
(In millions, except per share data) ^(a)	Common Class A			Common Class C			Common Class A		Common Class C
Basic earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$	(8	)	$	(16	)	$	27	$	52
Weighted average number of common shares outstanding — basic	35			73			35		67
(Losses) Earnings per weighted average common share — basic	$	(0.22	)	$	(0.22	)	$	0.77	$	0.77
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$	(8	)	$	(16	)	$	30	$	55
Weighted average number of common shares outstanding — diluted	35			73			49		78
Earnings per weighted average common share — diluted	$	(0.22	)	$	(0.22	)	$	0.61	$	0.70



	Six months ended June 30,
	2019						2018
(In millions, except per share data) ^(a)	Common Class A			Common Class C			Common Class A		Common Class C
Basic earnings per share attributable to Clearway Energy, Inc. common stockholders
Net (loss) income attributable to Clearway Energy, Inc.	$	(14	)	$	(30	)	$	33	$	62
Weighted average number of common shares outstanding — basic and diluted	35			73			35		66
(Losses) Earnings per weighted average common share — basic	$	(0.41	)	$	(0.41	)	$	0.94	$	0.94
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net (loss) income attributable to Clearway Energy, Inc.	$	(14	)	$	(30	)	$	40	$	68
Weighted average number of common shares outstanding — diluted	35			73			49		77
Earnings per weighted average common share — diluted	$	(0.41	)	$	(0.41	)	$	0.80	$	0.89

^(a)Basic and diluted (losses) earnings per share might not recalculate due to presenting values in millions rather than whole dollars.

The following table summarizes the Company's outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company's diluted earnings per share:



	Three months ended June 30,		Six months ended June 30,
	2019	2018	2019	2018
	(In millions of shares)
2019 Convertible Notes - Common Class A	—	—	—	—
2020 Convertible Notes - Common Class C	2	—	2	—

Segment Reporting

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Reporting

The Company’s segment structure reflects how management currently operates and allocates resources. The Company's businesses are segregated based on conventional power generation, renewable businesses which consist of solar and wind, and the thermal and chilled water business. The Corporate segment reflects the Company's corporate costs. The Company's chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, and CAFD, as well as economic gross margin and net income (loss).



	Three months ended June 30, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	84		$	153		$	47		$	—		$	284
Cost of operations	13			36			30			—			79
Depreciation and amortization	25			57			7			—			89
Impairment losses	—			—			19			—			19
General and administrative	—			—			—			7			7
Acquisition-related transaction and integration costs	—			—			—			1			1
Development costs	—			—			2			—			2
Operating income (loss)	46			60			(11		)	(8		)	87
Equity in earnings of unconsolidated affiliates	2			9			—			—			11
Other income, net	—			1			—			—			1
Loss on debt extinguishment	—			(1		)	—			—			(1		)
Interest expense	(16		)	(89		)	(4		)	(21		)	(130		)
Income (loss) before income taxes	32			(20		)	(15		)	(29		)	(32		)
Income tax expense	—			—			—			4			4
Net Income (Loss)	$	32		$	(20	)	$	(15	)	$	(33	)	$	(36	)
Total Assets	$	1,776		$	6,262		$	618		$	75		$	8,731



	Three months ended June 30, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	85		$	177		$	45		$	—		$	307
Cost of operations	10			33			31			—			74
Depreciation and amortization	24			52			6			—			82
General and administrative	—			—			—			6			6
Acquisition-related transaction and integration costs	—			—			—			1			1
Operating income (loss)	51			92			8			(7		)	144
Equity in earnings of unconsolidated affiliates	2			27			—			—			29
Other income, net	1			—			—			—			1
Interest expense	(13		)	(35		)	(2		)	(21		)	(71		)
Income (loss) before income taxes	41			84			6			(28		)	103
Income tax expense	—			—			—			7			7
Net Income (Loss)	$	41		$	84		$	6		$	(35	)	$	96



	Six months ended June 30, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	163		$	241		$	97		$	—		$	501
Cost of operations	30			70			63			—			163
Depreciation and amortization	50			110			13			—			173
Impairment losses	—			—			19			—			19
General and administrative	—			—			1			12			13
Acquisition-related transaction and integration costs	—			—			—			2			2
Development costs	—			—			3			—			3
Operating income (loss)	83			61			(2		)	(14		)	128
Equity in earnings of unconsolidated affiliates	4			10			—			—			14
Other income, net	1			2			—			1			4
Loss on debt extinguishment				(1		)	—			—			(1		)
Interest expense	(32		)	(148		)	(8		)	(43		)	(231		)
Income (loss) before income taxes	56			(76		)	(10		)	(56		)	(86		)
Income tax benefit	—			—			—			(3		)	(3		)
Net Income (Loss)	$	56		$	(76	)	$	(10	)	$	(53	)	$	(83	)



	Six months ended June 30, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	164		$	275		$	93		$	—		$	532
Cost of operations	32			67			64			—			163
Depreciation and amortization	50			102			11			—			163
General and administrative	—			—			—			11			11
Acquisition-related transaction and integration costs	—			—			—			2			2
Operating income (loss)	82			106			18			(13		)	193
Equity in earnings of unconsolidated affiliates	5			28			—			—			33
Other income, net	1			1			—			—			2
Interest expense	(20		)	(59		)	(4		)	(43		)	(126		)
Income (loss) before income taxes	68			76			14			(56		)	102
Income tax expense	—			—			—			6			6
Net Income (Loss)	$	68		$	76		$	14		$	(62	)	$	96

Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Effective Tax Rate

The income tax provision consisted of the following:



	Three months ended June 30,						Six months ended June 30,
(In millions, except percentages)	2019			2018			2019			2018
Loss before income tax benefit	$	(32	)	$	103		$	(86	)	$	102
Income tax benefit	4			7			(3		)	6
Effective income tax rate	(12.5		)%	6.8		%	3.5		%	5.9		%

For the three and six months ended June 30, 2019 and 2018, the overall effective tax rate was different than the statutory rate of 21% primarily due to production and investment tax credits generated from certain wind and solar assets, as well as taxable earnings and losses allocated to partners' interest in Clearway Energy LLC, which includes the effects of applying HLBV method of accounting for book purposes for certain partnerships.

For tax purposes, Clearway Energy LLC is treated as a partnership; therefore, the Company and CEG each record their respective share of taxable income or loss.

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In addition to the transactions and relationships described elsewhere in the notes to the consolidated financial statements, certain subsidiaries of CEG provide services to the Company's project entities. Amounts due to CEG subsidiaries are recorded as accounts payable - affiliate and amounts due to the Company from CEG subsidiaries are recorded as accounts receivable - affiliate in the Company's balance sheet. The disclosures below summarize the Company's material related party transactions with CEG and its subsidiaries that are included in the Company's operating revenues and operating costs. As discussed in Note 1, Nature of Business, on August 31, 2018, NRG sold 100% of its interest in CEG to GIP, and as a result, CEG and its subsidiaries are considered related parties during the period ended June 30, 2019, and NRG and its subsidiaries were considered related parties during the period ended June 30, 2018. Related Party Transactions with CEG entities during the period ended June 30, 2019 Services Agreements by and between the Company and Clearway Renewable Operation & Maintenance LLC (formerly NRG Renew Operation & Maintenance LLC) and other CEG subsidiaries Various wholly-owned subsidiaries of the Company in the Renewables segment are party to services agreements with Clearway Renewable Operation & Maintenance LLC (formerly NRG Renew Operation & Maintenance LLC), or RENOM, a wholly-owned subsidiary of CEG, as well as other CEG subsidiaries, which provides operation and maintenance, or O&M, and administrative services to these subsidiaries. The Company incurred total expenses for these services of $9 million and $17 million for each of the three and six months ended June 30, 2019, respectively. The Company incurred total expenses for these services of $8 million and $17 million for each of the three and six months ended June 30, 2018, respectively. There was a balance of $6 million due to RENOM as of June 30, 2019 and December 31, 2018. Oahu Solar Lease Agreements The Oahu Solar projects are party to various land lease agreements with a wholly owned subsidiary of CEG. The projects are leasing the land for a period of 35 years, with the ability to renew the lease for two additional five year periods. The Company has a lease liability and corresponding right-of-use asset related to the leases of $18 million as of June 30, 2019. CEG Master Services Agreements Following the consummation of the GIP Transaction, Clearway Energy, Inc. along with Clearway Energy LLC and Clearway Energy Operating LLC entered into Master Services Agreements with CEG, pursuant to which CEG and certain of its affiliates or third party service providers began providing certain services to the Company, including operational and administrative services, which include human resources, information systems, external affairs, accounting, procurement and risk management services, and the Company began providing certain services to CEG, including accounting, internal audit, tax and treasury services, in exchange for the payment of fees in respect of such services. Amounts due to CEG or its subsidiaries are recorded as accounts payable - affiliate and amounts due to the Company from CEG and subsidiaries are recorded as accounts receivable - affiliate on the Company's consolidated balance sheet. Related Party Transactions with NRG during the period ended June 30, 2018 The following transactions relate to the period prior to sale of NRG's interest in CEG to GIP on August 31, 2018 and therefore were considered to be related party transactions for all the periods prior to August 31, 2018. Power Purchase Agreements (PPAs) between the Company and NRG Power Marketing Elbow Creek and Dover were parties to PPAs with NRG Power Marketing, a wholly-owned subsidiary of NRG, and generated revenue under the PPAs, which were recorded to operating revenue in the Company's consolidated statements of operations. For the three and six months ended June 30, 2018, Elbow Creek and Dover, collectively, generated revenue of $3 million and $6 million, respectively. Dover's PPA with NRG Power Marketing ended as of December 31, 2018. Energy Marketing Services Agreement by and between Thermal entities and NRG Power Marketing Energy Center Dover LLC, Energy Center Minneapolis, Energy Center Phoenix LLC, and Energy Center Paxton LLC, or Thermal entities, which are subsidiaries of the Company, are parties to Energy Marketing Services Agreements with NRG Power Marketing. Under the agreements, NRG Power Marketing procures fuel and fuel transportation for the operation of the Thermal entities. For the three and six months ended June 30, 2018, the Thermal entities purchased $2 million and $6 million, respectively, of natural gas from NRG Power Marketing. O&M Services Agreements by and between the Company's subsidiaries and NRG Certain of the Company's subsidiaries are party to O&M Service Agreements with NRG, pursuant to which NRG subsidiaries provide necessary and appropriate services to operate and maintain the subsidiaries' plant operations. NRG was reimbursed for the provided services, as well as for all reasonable and related expenses and expenditures, and payments to third parties for services and materials rendered to or on behalf of the parties to the agreements. The fees incurred under these agreements were $10 million and $20 million and for the three and six months ended June 30, 2018, respectively. O&M Services Agreements by and between GenConn and NRG GenConn incurs fees under two O&M agreements with wholly-owned subsidiaries of NRG. For the three and six months ended June 30, 2018, the aggregate fees incurred under the agreements were $2 million and $3 million, respectively. Project Administrative Services Agreement by and between ESEC and NRG West Coast LLC During 2018, ESEC, NRG West Coast LLC and NRG Power Marketing LLC, or PML, entered into confirmation agreements under the Project Administration Services Agreement between ESEC and NRG West Coast LLC, whereby PML purchased California Carbon Allowances which ESEC could subsequently purchase for the purposes of ESEC’s compliance with the California Cap-and-Trade Program. ESEC reimbursed costs under these agreements of $4 million for the three and six month ended June 30, 2018. Administrative Services Agreement by and between Marsh Landing and NRG West Coast LLC Marsh Landing is a party to an administrative services agreement with NRG West Coast LLC, a wholly owned subsidiary of NRG. The Company reimbursed costs under the agreement of $6 million and $9 million for the three and six months ended June 30, 2018, respectively. Management Services Agreement by and between the Company and NRG Prior to the GIP Transaction, NRG provided the Company with various operational, management, and administrative services, which include human resources, accounting, tax, legal, information systems, treasury, and risk management, as set forth in the Management Services Agreement. Costs incurred under this agreement for the three and six months ended June 30, 2018 were $3 million and $5 million, respectively. The costs incurred under the Management Services Agreement included certain direct expenses incurred by NRG on behalf of the Company in addition to the base management fee. Subsequent to the GIP Transaction, the Company entered into the NRG TSA pursuant to which NRG or certain of its affiliates began providing certain services to the Company following the consummation of the GIP Transaction, in exchange for the payment of a fee in respect of such services. Expenses related to the NRG TSA are recorded in transaction and integration costs in the consolidated statements of operations. On August 31, 2018, in connection with the consummation of the GIP Transaction, the Company entered into a Termination Agreement with Clearway Energy LLC, Clearway Energy Operating LLC and NRG terminating the Management Services Agreement, dated as of July 22, 2013 by and among the Company, Clearway Energy LLC, Clearway Energy Operating LLC and NRG. Concurrently with entering into the Termination Agreement on August 31, 2018, the Company entered into a Transition Services Agreement with NRG, as further described in Note 1, Nature of Business.

Contingencies	6 Months Ended
Contingencies	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies This note should be read in conjunction with the complete description under Note 16, Commitments and Contingencies, to the Company's 2018 Form 10-K. Contingencies The Company's material legal proceedings are described below. The Company believes that it has valid defenses to these legal proceedings and intends to defend them vigorously. The Company records reserves for estimated losses from contingencies when information available indicates that a loss is probable and the amount of the loss, or range of loss, can be reasonably estimated. As applicable, the Company has established an adequate reserve for the matters discussed below. In addition, legal costs are expensed as incurred. Management assesses such matters based on current information and makes a judgment concerning its potential outcome, considering the nature of the claim, the amount and nature of damages sought, and the probability of success. The Company is unable to predict the outcome of the legal proceedings below or reasonably estimate the scope or amount of any associated costs and potential liabilities. As additional information becomes available, management adjusts its assessment and estimates of such contingencies accordingly. Because litigation is subject to inherent uncertainties and unfavorable rulings or developments, it is possible that the ultimate resolution of the Company's liabilities and contingencies could be at amounts that are different from its currently recorded reserves and that such difference could be material. In addition to the legal proceedings noted below, the Company and its subsidiaries are party to other litigation or legal proceedings arising in the ordinary course of business. In management's opinion, the disposition of these ordinary course matters will not materially adversely affect the Company's consolidated financial position, results of operations, or cash flows. Nebraska Public Power District Litigation On January 11, 2019, Nebraska Public Power District, or NPPD, sent written notice to certain of the Company’s subsidiaries which own the Laredo Ridge and Elkhorn Ridge wind projects alleging an event of default under each of the PPAs between NPPD and the projects. NPPD alleges that the Company moved forward with certain transactions without obtaining the consent of NPPD. NPPD threatened to terminate the applicable PPAs by February 11, 2019 if the alleged default was not cured. The Company filed a motion for a temporary restraining order and preliminary injunction in the U.S. District Court for the District of Nebraska relating to the Laredo Ridge project, and a similar motion in the District Court of Knox County, Nebraska for the Elkhorn Ridge project, to enjoin NPPD from taking any actions related to the PPAs. On February 19, 2019, the U.S. District Court in the Laredo Ridge matter approved a stipulation between the parties to provide for an injunction preventing NPPD from terminating the PPA pending disposition of the litigation. On February 26, 2019, the Knox County District Court approved a similar stipulation relating to the Elkhorn Ridge project. The Company believes the allegations of NPPD are meritless and the Company is vigorously defending its rights under the PPAs.

Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases

Adoption of Topic 842

The Company adopted ASU No. 2019-01, Leases (Topic 842), or Topic 842, on January 1, 2019 using the modified retrospective transition method and therefore, prior period financial information has not been adjusted and continues to be reflected in accordance with the Company’s historical accounting policy. Topic 842 requires the establishment of a lease liability and related right-of-use, or ROU, asset for all leases with a term longer than 12 months. The Company elected certain of the permitted practical expedients, including the expedient that permits the Company to retain its existing lease assessment and classification. The Company also elected to account for lease and non-lease components for specific asset classes as a single lease component.

The adoption of the standard resulted in the recording of operating lease liabilities of $174 million and related ROU assets of $168 million. There was no impact to the Company’s consolidated statement of operations or cash flows. The Company utilized its incremental borrowing rate at adoption date, ranging from 4.04% - 4.67%, to determine the amount of the lease liabilities.

Accounting for Leases

The Company evaluates each arrangement at inception to determine if it contains a lease. All of the Company’s leases are operating leases as of June 30, 2019.

Lessee

The Company records its operating lease liabilities at the present value at lease commencement date of the lease payments over the lease term. Lease payments include fixed payment amounts, as well as variable rate payments based on an index initially measured at lease commencement date. Variable payments, including payments based on future performance and based on index changes, are recorded as the expense is incurred. The Company determines the relevant lease term by evaluating whether renewal and termination options are reasonably to certain to be exercised. The Company uses its incremental borrowing rate to calculate the present value of the lease payments, based on information available at the lease commencement date.

The Company’s leases consist of land leases for numerous operating asset locations, real estate leases and equipment leases. The terms and conditions for these leases vary by the type of underlying asset.

Lease expense for the three and six months ended June 30, 2019 was comprised of the following:



(In millions)
	Three months ended June 2019		Six months ended June 2019
Operating lease cost	$	2	$	4
Variable lease cost	3		7
Total lease cost	$	5	$	11

Operating lease information as of June 30, 2019 was as follows:



(In millions, except term and rate)
ROU Assets - operating leases, net	$	183

Short-term lease liability - operating leases ^(a)	5
Long-term lease liability - operating leases	186
Total lease liability	$	191

Cash paid for operating leases	$	7
Weighted average remaining lease term	25
Weighted average discount rate	4.3%

^(a) Short-term lease liability balances are included within the accrued expenses and other current liabilities line item of the consolidated balance sheets as of June 30, 2019.

Maturities of operating lease liabilities as of June 30, 2019 are as follows:



(In millions)
Remainder of 2019	$	5
2020	14
2021	14
2022	13
2023	13
Thereafter	249
Total lease payments	308
Less imputed interest	(117		)
Total lease liability - operating leases	$	191

Future minimum lease commitments under operating leases as of December 31, 2018 are as follows:



(In millions)
2019	$	13
2020	13
2021	13
2022	13
2023	12
Thereafter	207
Total lease payments	$	271

Lessor

The majority of the Company’s revenue is obtained through PPAs or other contractual agreements that are accounted for as leases. These leases are comprised of both fixed payments and variable payments contingent upon volumes or performance metrics. The terms of the leases are further described in Item 2 — MD&A, Introduction, Environmental, Regulatory of this Form 10-Q. Many of the leases have renewal options at the end of the lease term. Termination may be allowed under specific circumstances in the lease arrangements, such as under an event of default. All of the Company’s leases are operating leases. Certain of these leases have both lease and non-lease components, and the Company allocates the transaction price to the components based on standalone selling prices. As disclosed in Note 2, Summary of Significant Accounting Policies, the following amounts of energy and capacity revenue are related to the Company’s leases:



Three months ended June 30, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	1	$	157	$	1	$	159
Capacity revenue	85		—		—		85
Operating revenue	$	86	$	157	$	1	$	244



Six months ended June 30, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	2	$	256	$	1	$	259
Capacity revenue	164		—		—		164
Operating revenue	$	166	$	256	$	1	$	423

Minimum future rent payments under the operating leases for the remaining periods as of June 30, 2019:



(In millions)
Remainder of 2019	$	226
2020	337
2021	341
2022	346
2023	154
Total lease payments	$	1,404

Property, plant and equipment, net related to the Company’s operating leases were as follows as of June 30, 2019:



(In millions)
Property, plant and equipment	$	6,064
Accumulated depreciation	(1,509		)
Net property, plant and equipment	$	4,555

Leases

Adoption of Topic 842

Accounting for Leases

The Company evaluates each arrangement at inception to determine if it contains a lease. All of the Company’s leases are operating leases as of June 30, 2019.

Lessee

Lease expense for the three and six months ended June 30, 2019 was comprised of the following:



(In millions)
	Three months ended June 2019		Six months ended June 2019
Operating lease cost	$	2	$	4
Variable lease cost	3		7
Total lease cost	$	5	$	11

Operating lease information as of June 30, 2019 was as follows:



(In millions, except term and rate)
ROU Assets - operating leases, net	$	183

Short-term lease liability - operating leases ^(a)	5
Long-term lease liability - operating leases	186
Total lease liability	$	191

Cash paid for operating leases	$	7
Weighted average remaining lease term	25
Weighted average discount rate	4.3%

^(a) Short-term lease liability balances are included within the accrued expenses and other current liabilities line item of the consolidated balance sheets as of June 30, 2019.

Maturities of operating lease liabilities as of June 30, 2019 are as follows:



(In millions)
Remainder of 2019	$	5
2020	14
2021	14
2022	13
2023	13
Thereafter	249
Total lease payments	308
Less imputed interest	(117		)
Total lease liability - operating leases	$	191

Future minimum lease commitments under operating leases as of December 31, 2018 are as follows:



(In millions)
2019	$	13
2020	13
2021	13
2022	13
2023	12
Thereafter	207
Total lease payments	$	271

Lessor



Three months ended June 30, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	1	$	157	$	1	$	159
Capacity revenue	85		—		—		85
Operating revenue	$	86	$	157	$	1	$	244



Six months ended June 30, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	2	$	256	$	1	$	259
Capacity revenue	164		—		—		164
Operating revenue	$	166	$	256	$	1	$	423

Minimum future rent payments under the operating leases for the remaining periods as of June 30, 2019:



(In millions)
Remainder of 2019	$	226
2020	337
2021	341
2022	346
2023	154
Total lease payments	$	1,404

Property, plant and equipment, net related to the Company’s operating leases were as follows as of June 30, 2019:



(In millions)
Property, plant and equipment	$	6,064
Accumulated depreciation	(1,509		)
Net property, plant and equipment	$	4,555

Asset Impairments Asset Impairments	6 Months Ended
Asset Impairments Asset Impairments	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Asset Impairments	Asset Impairments During the three and six months ended June 30, 2019, the Company recorded an impairment loss of $19 million related to a facility in the Thermal segment.The fair value of the facility was determined using an income approach by applying a discounted cash flow methodology to the long-term budgets for each respective plant. The income approach utilized estimates of discounted future cash flows, which were Level 3 fair value measurement and include key inputs, such as forecasted power prices, operations and maintenance expense, and discount rates. The Company measured the impairment loss as the difference between the carrying amount and the fair value of the assets.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2019
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions. These estimates and assumptions impact the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could be different from these estimates.
Noncontrolling Interests	Noncontrolling Interests
Revenue Recognition	Revenue Recognition Revenue from Contracts with Customers On January 1, 2018, the Company adopted the guidance in ASC 606, Revenue from Contracts with Customers, or Topic 606, using the modified retrospective method applied to contracts which were not completed as of the adoption date, with no adjustment required to the financial statements upon adoption. Following the adoption of the new standard, the Company’s revenue recognition of its contracts with customers remains materially consistent with its historical practice. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company's policies with respect to its various revenue streams are detailed below. In general, the Company applies the invoicing practical expedient to recognize revenue for the revenue streams detailed below, except in circumstances where the invoiced amount does not represent the value transferred to the customer. Thermal Revenues Steam and chilled water revenue is recognized as the Company transfers the product to the customer, based on customer usage as determined by meter readings taken at month-end. Some locations read customer meters throughout the month and recognize estimated revenue for the period between meter read date and month-end. For thermal contracts, the Company’s performance obligation to deliver steam and chilled water is satisfied over time and revenue is recognized based on the invoiced amount. The Thermal Business subsidiaries collect and remit state and local taxes associated with sales to their customers, as required by governmental authorities. These taxes are presented on a net basis in the income statement. As contracts for steam and chilled water are long-term contracts, the Company has performance obligations under these contracts that have not yet been satisfied. These performance obligations have transaction prices that are both fixed and variable, and which vary based on the contract duration, customer type, inception date and other contract-specific factors. For the fixed price contracts, the Company cannot accurately estimate the amount of its unsatisfied performance obligations as it will vary based on customer usage, which will depend on factors such as weather and customer activity. Power Purchase Agreements The majority of the Company’s revenues are obtained through PPAs or other contractual agreements. Energy, capacity and where applicable, renewable attributes, from the majority of the Company’s renewable energy assets and certain conventional energy plants is sold through long-term PPAs and tolling agreements to a single counterparty, which is often a utility or commercial customer. The majority of these PPAs are accounted for as leases. ASC 840 requires the minimum lease payments received to be amortized over the term of the lease and contingent rentals are recorded when the achievement of the contingency becomes probable. Management's judgment is required in determining the economic life of each generating facility, in evaluating whether certain lease provisions constitute minimum payments or represent contingent rent and other factors in determining whether a contract contains a lease and whether the lease is an operating lease or capital lease. Renewable Energy Credits Renewable energy credits, or RECs, are usually sold through long-term PPAs. Revenue from the sale of self-generated RECs is recognized when the related energy is generated and simultaneously delivered even in cases where there is a certification lag as it has been deemed to be perfunctory. In a bundled contract to sell energy, capacity and/or self-generated RECs, all performance obligations are deemed to be delivered at the same time and hence, timing of recognition of revenue for all performance obligations is the same and occurs over time. In such cases, it is often unnecessary to allocate transaction price to multiple performance obligations. Sale of Emission Allowances The Company records its bank of emission allowances as part of intangible assets. From time to time, management may authorize the transfer of emission allowances in excess of usage from the Company's emission bank to intangible assets held-for-sale for trading purposes. The Company records the sale of emission allowances on a net basis within operating revenue in the Company's consolidated statements of operations.
Income Taxes	Income Taxes Prior to the GIP Transaction, Clearway Energy, Inc. was included in certain NRG consolidated unitary state tax return filings which was reflected in the Clearway Energy, Inc. state effective tax rate. Following the GIP Transaction, Clearway Energy, Inc. will file under a separate standalone methodology, resulting in a higher state effective tax rate due to a larger percentage of activity allocated to high-tax jurisdictions.
Segment Reporting	The Company’s segment structure reflects how management currently operates and allocates resources. The Company's businesses are segregated based on conventional power generation, renewable businesses which consist of solar and wind, and the thermal and chilled water business. The Corporate segment reflects the Company's corporate costs. The Company's chief operating decision maker, its Chief Executive Officer, evaluates the performance of its segments based on operational measures including adjusted earnings before interest, taxes, depreciation and amortization, or Adjusted EBITDA, and CAFD, as well as economic gross margin and net income (loss).

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References

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+ Details

Nature of Business Nature of Business (Tables)	6 Months Ended
Nature of Business Nature of Business (Tables)	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Structure	The following table represents the structure of the Company as of June 30, 2019:

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents



	June 30,		December 31,
	2019		2018
	(in millions)
Cash and cash equivalents	$	93	$	407
Restricted cash	203		176
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$	296	$	583

Schedule of Accumulated Amortization and Depreciation



	June 30, 2019		December 31, 2018
	(In millions)
Property, Plant and Equipment Accumulated Depreciation	$	1,731	$	1,590
Intangible Assets Accumulated Amortization	343		308

Dividends Declared

The following table lists the dividends paid on the Company's Class A common stock and Class C common stock during the six months ended June 30, 2019:



	Second Quarter 2019		First Quarter 2019
Dividends per Class A share	$	0.20	$	0.20
Dividends per Class C share	$	0.20	$	0.20

Distributions Made to Limited Liability Company (LLC) Member, by Distribution

The following table lists distributions paid to CEG during the period ended June 30, 2019 on Clearway Energy LLC's Class B and D units:



	Second Quarter 2019		First Quarter 2019
Distributions per Class B Unit	$	0.20	$	0.20
Distributions per Class D Unit	$	0.20	$	0.20

Disaggregation of Revenue



	Three months ended June 30, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	1		$	166		$	2		$	169
Capacity revenue^(a)	85			—			38			123
Contract amortization	(2		)	(15		)	—			(17		)
Other revenue	—			2			7			9
Total operating revenue	84			153			47			284
Less: Lease revenue	(86		)	(157		)	(1		)	(244		)
Less: Contract amortization	2			15			—			17
Total revenue from contracts with customers	$	—		$	11		$	46		$	57

^(a)The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842:



	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	1	$	157	$	1	$	159
Capacity revenue	85		—		—		85
	$	86	$	157	$	1	$	244



	Six months ended June 30, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	2		$	274		$	3		$	279
Capacity revenue^(a)	164			—			82			246
Contract amortization	(3		)	(30		)	(1		)	(34		)
Mark-to-market for economic hedging activities	—			(7		)	—			(7		)
Other revenue	—			4			13			17
Total operating revenue	163			241			97			501
Less: Mark-to-market for economic hedging activities	—			7			—			7
Less: Lease revenue	(166		)	(256		)	(1		)	(423		)
Less: Contract amortization	3			30			1			34
Total revenue from contracts with customers	$	—		$	22		$	97		$	119

^(a)The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842:



	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	2	$	256	$	1	$	259
Capacity revenue	164		—		—		164
Total	$	166	$	256	$	1	$	423



	Three months ended June 30, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	2		$	188		$	1		$	191
Capacity revenue^(a)	85			—			38			123
Contract amortization	(2		)	(16		)	—			(18		)
Other revenue	—			5			6			11
Total operating revenue	85			177			45			307
Less: Lease revenue	(86		)	(181		)	(1		)	(268		)
Less: Contract amortization	2			16			—			18
Total revenue from contracts with customers	$	1		$	12		$	44		$	57

^(a)The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 840:



	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	1	$	181	$	1	$	183
Capacity revenue	85		—		—		85
	$	86	$	181	$	1	$	268



	Six months ended June 30, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Total
Energy revenue^(a)	$	3		$	300		$	2		$	305
Capacity revenue^(a)	164			—			80			244
Contract amortization	(3		)	(31		)	(1		)	(35		)
Other revenue	—			6			12			18
Total operating revenue	164			275			93			532
Less: Lease revenue	(167		)	(280		)	(1		)	(448		)
Less: Contract amortization	3			31			1			35
Total revenue from contracts with customers	$	—		$	26		$	93		$	119

^(a)The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 840:



	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	3	$	280	$	1	$	284
Capacity revenue	164		—		—		164
	$	167	$	280	$	1	$	448

Contract with Customer, Asset and Liability

The following table reflects the contract assets and liabilities included on the Company’s balance sheet as of June 30, 2019:



(In millions)	June 30, 2019
Accounts receivable, net - Contracts with customers	$	37
Accounts receivable, net - Leases	94
Total accounts receivable, net ^(a)	$	131

^(a) Total accounts receivable, net, excludes $5 million generated at projects affected by PG&E Bankruptcy, which were reclassified to non-current assets as of June 30, 2019.

Investments Accounted for by the Equity Method and Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2019

Entities that are not consolidated [Member]

Schedule of Equity Method Investments [Line Items]

Schedule of Variable Interest Entities

The Company's maximum exposure to loss as of June 30, 2019, is limited to its equity investment in the unconsolidated entities, as further summarized in the table below:



(In millions)	Maximum exposure to loss
Four Brothers Solar, LLC	$	187
GenConn Energy LLC	96
DGPV Holdco 3 LLC	140
DGPV Holdco 1 LLC	83
Granite Mountain Holdings, LLC	67
DGPV Holdco 2 LLC	62
Iron Springs Holdings, LLC	49
RPV Holdco 1 LLC	22

Consolidated Entities [Member]

Schedule of Equity Method Investments [Line Items]

Schedule of Variable Interest Entities

Summarized financial information for the Company's consolidated VIEs consisted of the following as of June 30, 2019:



(In millions)	Oahu Solar Partnership		Kawailoa Partnership		Alta Wind TE Holdco		Spring Canyon		Buckthorn Renewables, LLC		Repowering Partnership LLC
Other current and non-current assets	$	35	$	35	$	69	$	3	$	11	$	23
Property, plant and equipment	189		145		393		88		219		266
Intangible assets	—		—		243		—		—		1
Total assets	224		180		705		91		230		290
Current and non-current liabilities	181		161		47		6		137		28
Total liabilities	181		161		47		6		137		28
Noncontrolling interest	19		19		59		38		55		7
Net assets less noncontrolling interests	$	24	$	—	$	599	$	47	$	38	$	255

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Estimated Carrying Values and Fair Values

The estimated carrying amounts and fair values of the Company’s recorded financial instruments not carried at fair market value are as follows:



	As of June 30, 2019				As of December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
(In millions)
Liabilities:
Long-term debt, including current portion^(a)	$	6,183	$	6,121	$	6,043	$	5,943

^(a) Excludes net debt issuance costs, which are recorded as a reduction to long-term debt on the Company's consolidated balance sheets.

Fair Value Option, Disclosures

The following table presents the level within the fair value hierarchy for long-term debt, including current portion as of June 30, 2019 and December 31, 2018:



	As of June 30, 2019				As of December 31, 2018
	Level 2		Level 3		Level 2		Level 3
	(In millions)
Long-term debt, including current portion	$	1,507	$	4,614	$	1,620	$	4,323

Schedule of Fair Value, Assets and Liabilities



	As of June 30, 2019						As of December 31, 2018
	Fair Value ^(a)						Fair Value ^(a)
(In millions)	Level 2		Level 3		Total		Level 2
Derivative assets:
Interest rate contracts	$	—	$	—	$	—	$	11
Total assets	—		—		—		11
Derivative liabilities:
Commodity contracts	1		7		8		—
Interest rate contracts	71		—		71		21
Total liabilities	$	72	$	7	$	79	$	21

^(a) There were no derivative assets or liabilities classified as Level 1 as of June 30, 2019, and no derivative assets or liabilities classified as Level 1 or Level 3 as of December 31, 2018.



	Three months ended June 30,					Six months ended June 30,
	2019			2018		2019			2018
(In millions)	Fair Value Measurement Using Significant Unobservable Inputs (Level 3)					Fair Value Measurement Using Significant Unobservable Inputs (Level 3)
Beginning balance	$	(7	)	$	—	$	—		$	—
Purchases	—			—		(7		)	—
Ending balance	$	(7	)	$	—	$	(7	)	$	—

Fair Value Measurement Inputs and Valuation Techniques

The following tables quantify the significant unobservable inputs used in developing the fair value of the Company's Level 3 positions as of June 30, 2019:

June 30, 2019

Fair Value

Input/Range

Assets

Liabilities

Valuation Technique

Significant Unobservable Input

Low

High

Weighted Average

(In millions)

Power Contracts

—

Discounted Cash Flow

Forward Market Price (per MWh)

The following table provides sensitivity of fair value measurements to increases/(decreases) in significant unobservable inputs as of June 30, 2019:



Significant Observable Input	Position	Change In Input	Impact on Fair Value Measurement
Forward Market Price Power	Buy	Increase/(Decrease)	Higher/(Lower)
Forward Market Price Power	Sell	Increase/(Decrease)	Lower/(Higher)

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Net notional volume buy/(sell) of NRG Yield's open derivative transactions broken out by commodity

The following table summarizes the net notional volume buy of the Company's open derivative transactions broken out by type:



		Total Volume
		June 30, 2019			December 31, 2018
Commodity	Units	(In millions)
Power	MWh	(2		)	—
Natural Gas	MMBtu	3			1
Interest	Dollars	$	1,773		$	1,862

Fair value within the derivative instrument valuation on the balance sheets

The following table summarizes the fair value within the derivative instrument valuation on the balance sheet:



	Fair Value
	Derivative Assets ^(a)				Derivative Liabilities
	June 30, 2019		December 31, 2018		June 30, 2019		December 31, 2018
	(In millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts current	$	—	$	2	$	2	$	1
Interest rate contracts long-term	—		3		12		6
Total Derivatives Designated as Cash Flow Hedges	—		5		14		7
Derivatives Not Designated as Cash Flow Hedges:
Interest rate contracts current	—		1		10		3
Interest rate contracts long-term	—		5		47		11
Commodity contracts current	—		—		1		—
Commodity contracts long-term	—		—		7		—
Total Derivatives Not Designated as Cash Flow Hedges	—		6		65		14
Total Derivatives	$	—	$	11	$	79	$	21

^(a) Derivative Assets balances classified as current are included within the prepayments and other current assets line item of the consolidated balance sheets as of December 31, 2018.

Offsetting of derivatives by counterparty master agreement level and collateral received or paid

The following tables summarize the offsetting of derivatives by the counterparty master agreement level as of June 30, 2019 and December 31, 2018:



As of June 30, 2019	Gross Amounts of Recognized Assets/Liabilities			Derivative Instruments		Net Amount
Commodity contracts:	(In millions)
Derivative assets	$	—		$	—	$	—
Derivative liabilities	(8		)	—		(8		)
Total commodity contracts	$	(8	)	$	—	$	(8	)
Interest rate contracts:
Derivative assets	—			—		—
Derivative liabilities	(71		)	—		(71		)
Total interest rate contracts	(71		)	—		(71		)
Total derivative instruments	$	(79	)	$	—	$	(79	)



As of December 31, 2018	Gross Amounts of Recognized Assets/Liabilities			Derivative Instruments			Net Amount
Interest rate contracts:	(In millions)
Derivative assets	$	11		$	(1	)	$	10
Derivative liabilities	(21		)	1			(20		)
Total interest rate contracts	(10		)	—			(10		)
Total derivative instruments	$	(10	)	$	—		$	(10	)

Effects of NRG Yield's accumulated OCI balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax

The following table summarizes the effects on the Company’s accumulated OCL balance attributable to interest rate swaps designated as cash flow hedge derivatives, net of tax:



	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
	(In millions)
Accumulated OCL beginning balance	$	(40	)	$	(43	)	$	(38	)	$	(60	)
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	14			2			17			6
Mark-to-market of cash flow hedge accounting contracts	(9		)	5			(14		)	18
Accumulated OCL ending balance, net of income tax benefit of $6 and $6, respectively	(35		)	(36		)	(35		)	(36		)
Accumulated OCL attributable to noncontrolling interests	$	(19	)	$	(19	)	$	(19	)	$	(19	)
Accumulated OCL attributable to Clearway Energy, Inc.	$	(16	)	$	(17	)	$	(16	)	$	(17	)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $0	$	(9	)				$	(9	)

Derivative gains and losses

Gains and losses related to the Company's derivatives are recorded in the consolidated statements of operations as follows:



	Three Months Ended June 30,					Six Months Ended June 30,
	2019			2018		2019			2018
	(In millions)
Interest Rate Contracts (Interest Expense)	$	(36	)	$	7	$	(54	)	$	31

Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt consisted of the following:



	June 30, 2019			December 31, 2018			June 30, 2019, interest rate % ^(a)	Letters of Credit Outstanding at June 30, 2019
	(In millions, except rates)
2019 Convertible Notes	$	—		$	220		3.500
2020 Convertible Notes	45			45			3.250
2024 Senior Notes	500			500			5.375
2025 Senior Notes	600			600			5.750
2026 Senior Notes	350			350			5.000
Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility, due 2023 ^(b)	—			—			L+1.75	45
Project-level debt:
Agua Caliente Borrower 2, due 2038^(c)	38			39			5.430	17
Alpine, due 2022 ^(c)	125			127			L+1.750	16
Alta Wind I - V lease financing arrangements, due 2034 and 2035	859			886			5.696 - 7.015	29
Buckthorn Solar, due 2025	131			132			L+1.750	26
CVSR, due 2037 ^(c)	704			720			2.339 - 3.775	—
CVSR Holdco Notes, due 2037 ^(c)	182			188			4.680	13
Duquesne, due 2059	95			—			4.620
El Segundo Energy Center, due 2023	320			352			L+1.75 - L+2.375	138
Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037	328			328			various	—
Laredo Ridge, due 2028	86			89			L+2.125	10
Kansas South, due 2030 ^(c)	25			26			L+2.00	2
Kawailoa Solar Holdings LLC, due 2026	128			—			L+1.375	4
Marsh Landing, due 2023 ^(c)	249			263			L+2.125	46
Oahu Solar Holdings LLC, due 2026	150			—			L+1.375	10
Repowering Partnership Holdco LLC, due 2020	219			—			L+.85	29
South Trent Wind, due 2028	44			50			L+1.350	12
Tapestry, due 2031 ^(e)	161			151			L+1.375	24
Utah Solar Portfolio, due 2022	260			267			L+2.625	13
Viento, due 2023	42			146			L+2.00	14
Walnut Creek, due 2023	209			222			L+1.75	93
Other	334			343			various	24
Subtotal project-level debt:	4,689			4,329
Total debt	6,184			6,044
Less current maturities	(1,914		)	(535		)
Less net debt issuance costs	(77		)	(61		)
Less discounts ^(d)	(1		)	(1		)
Total long-term debt	$	4,192		$	5,447

^(b) Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement.

^(c) Entities affected by PG&E bankruptcy, see further discussion below.

^(d)Discounts relate to the 2020 Convertible Notes.

^(e)Letters of credit outstanding as of June 30, 2019, include $6 million of letters of credit pending cancellation due to the recent Tapestry refinancing.

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The reconciliation of Clearway Energy, Inc.'s basic and diluted earnings per share is shown in the following tables:



	Three months ended June 30,
	2019						2018
(In millions, except per share data) ^(a)	Common Class A			Common Class C			Common Class A		Common Class C
Basic earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$	(8	)	$	(16	)	$	27	$	52
Weighted average number of common shares outstanding — basic	35			73			35		67
(Losses) Earnings per weighted average common share — basic	$	(0.22	)	$	(0.22	)	$	0.77	$	0.77
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$	(8	)	$	(16	)	$	30	$	55
Weighted average number of common shares outstanding — diluted	35			73			49		78
Earnings per weighted average common share — diluted	$	(0.22	)	$	(0.22	)	$	0.61	$	0.70



	Six months ended June 30,
	2019						2018
(In millions, except per share data) ^(a)	Common Class A			Common Class C			Common Class A		Common Class C
Basic earnings per share attributable to Clearway Energy, Inc. common stockholders
Net (loss) income attributable to Clearway Energy, Inc.	$	(14	)	$	(30	)	$	33	$	62
Weighted average number of common shares outstanding — basic and diluted	35			73			35		66
(Losses) Earnings per weighted average common share — basic	$	(0.41	)	$	(0.41	)	$	0.94	$	0.94
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net (loss) income attributable to Clearway Energy, Inc.	$	(14	)	$	(30	)	$	40	$	68
Weighted average number of common shares outstanding — diluted	35			73			49		77
Earnings per weighted average common share — diluted	$	(0.41	)	$	(0.41	)	$	0.80	$	0.89

^(a)Basic and diluted (losses) earnings per share might not recalculate due to presenting values in millions rather than whole dollars.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the Company's outstanding equity instruments that are anti-dilutive and were not included in the computation of the Company's diluted earnings per share:



	Three months ended June 30,		Six months ended June 30,
	2019	2018	2019	2018
	(In millions of shares)
2019 Convertible Notes - Common Class A	—	—	—	—
2020 Convertible Notes - Common Class C	2	—	2	—

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment



	Three months ended June 30, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	84		$	153		$	47		$	—		$	284
Cost of operations	13			36			30			—			79
Depreciation and amortization	25			57			7			—			89
Impairment losses	—			—			19			—			19
General and administrative	—			—			—			7			7
Acquisition-related transaction and integration costs	—			—			—			1			1
Development costs	—			—			2			—			2
Operating income (loss)	46			60			(11		)	(8		)	87
Equity in earnings of unconsolidated affiliates	2			9			—			—			11
Other income, net	—			1			—			—			1
Loss on debt extinguishment	—			(1		)	—			—			(1		)
Interest expense	(16		)	(89		)	(4		)	(21		)	(130		)
Income (loss) before income taxes	32			(20		)	(15		)	(29		)	(32		)
Income tax expense	—			—			—			4			4
Net Income (Loss)	$	32		$	(20	)	$	(15	)	$	(33	)	$	(36	)
Total Assets	$	1,776		$	6,262		$	618		$	75		$	8,731



	Three months ended June 30, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	85		$	177		$	45		$	—		$	307
Cost of operations	10			33			31			—			74
Depreciation and amortization	24			52			6			—			82
General and administrative	—			—			—			6			6
Acquisition-related transaction and integration costs	—			—			—			1			1
Operating income (loss)	51			92			8			(7		)	144
Equity in earnings of unconsolidated affiliates	2			27			—			—			29
Other income, net	1			—			—			—			1
Interest expense	(13		)	(35		)	(2		)	(21		)	(71		)
Income (loss) before income taxes	41			84			6			(28		)	103
Income tax expense	—			—			—			7			7
Net Income (Loss)	$	41		$	84		$	6		$	(35	)	$	96



	Six months ended June 30, 2019
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	163		$	241		$	97		$	—		$	501
Cost of operations	30			70			63			—			163
Depreciation and amortization	50			110			13			—			173
Impairment losses	—			—			19			—			19
General and administrative	—			—			1			12			13
Acquisition-related transaction and integration costs	—			—			—			2			2
Development costs	—			—			3			—			3
Operating income (loss)	83			61			(2		)	(14		)	128
Equity in earnings of unconsolidated affiliates	4			10			—			—			14
Other income, net	1			2			—			1			4
Loss on debt extinguishment				(1		)	—			—			(1		)
Interest expense	(32		)	(148		)	(8		)	(43		)	(231		)
Income (loss) before income taxes	56			(76		)	(10		)	(56		)	(86		)
Income tax benefit	—			—			—			(3		)	(3		)
Net Income (Loss)	$	56		$	(76	)	$	(10	)	$	(53	)	$	(83	)



	Six months ended June 30, 2018
(In millions)	Conventional Generation			Renewables			Thermal			Corporate			Total
Operating revenues	$	164		$	275		$	93		$	—		$	532
Cost of operations	32			67			64			—			163
Depreciation and amortization	50			102			11			—			163
General and administrative	—			—			—			11			11
Acquisition-related transaction and integration costs	—			—			—			2			2
Operating income (loss)	82			106			18			(13		)	193
Equity in earnings of unconsolidated affiliates	5			28			—			—			33
Other income, net	1			1			—			—			2
Interest expense	(20		)	(59		)	(4		)	(43		)	(126		)
Income (loss) before income taxes	68			76			14			(56		)	102
Income tax expense	—			—			—			6			6
Net Income (Loss)	$	68		$	76		$	14		$	(62	)	$	96

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Reconciliation of the U.S. federal statutory rate to the Company's effective rate

The income tax provision consisted of the following:



	Three months ended June 30,						Six months ended June 30,
(In millions, except percentages)	2019			2018			2019			2018
Loss before income tax benefit	$	(32	)	$	103		$	(86	)	$	102
Income tax benefit	4			7			(3		)	6
Effective income tax rate	(12.5		)%	6.8		%	3.5		%	5.9		%

Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease Cost

Lease expense for the three and six months ended June 30, 2019 was comprised of the following:



(In millions)
	Three months ended June 2019		Six months ended June 2019
Operating lease cost	$	2	$	4
Variable lease cost	3		7
Total lease cost	$	5	$	11

Operating lease information as of June 30, 2019 was as follows:



(In millions, except term and rate)
ROU Assets - operating leases, net	$	183

Short-term lease liability - operating leases ^(a)	5
Long-term lease liability - operating leases	186
Total lease liability	$	191

Cash paid for operating leases	$	7
Weighted average remaining lease term	25
Weighted average discount rate	4.3%

^(a) Short-term lease liability balances are included within the accrued expenses and other current liabilities line item of the consolidated balance sheets as of June 30, 2019.

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of June 30, 2019 are as follows:



(In millions)
Remainder of 2019	$	5
2020	14
2021	14
2022	13
2023	13
Thereafter	249
Total lease payments	308
Less imputed interest	(117		)
Total lease liability - operating leases	$	191

Future Minimum Lease Commitments

Future minimum lease commitments under operating leases as of December 31, 2018 are as follows:



(In millions)
2019	$	13
2020	13
2021	13
2022	13
2023	12
Thereafter	207
Total lease payments	$	271

Revenue Related to Leases



Three months ended June 30, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	1	$	157	$	1	$	159
Capacity revenue	85		—		—		85
Operating revenue	$	86	$	157	$	1	$	244



Six months ended June 30, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	2	$	256	$	1	$	259
Capacity revenue	164		—		—		164
Operating revenue	$	166	$	256	$	1	$	423

Minimum Future Rent Payments under Operating Leases

Minimum future rent payments under the operating leases for the remaining periods as of June 30, 2019:



(In millions)
Remainder of 2019	$	226
2020	337
2021	341
2022	346
2023	154
Total lease payments	$	1,404

Future Minimum Lease Commitments Under Operating Leases

Property, plant and equipment, net related to the Company’s operating leases were as follows as of June 30, 2019:



(In millions)
Property, plant and equipment	$	6,064
Accumulated depreciation	(1,509		)
Net property, plant and equipment	$	4,555

Nature of Business (Details) $ in Millions	6 Months Ended
Nature of Business (Details) $ in Millions	Jun. 30, 2019 USD ($) MW	Jan. 29, 2019 facility MW	Dec. 31, 2018 USD ($)
Nature of Business
Property, plant and equipment, net	$ 5,602		$ 5,245
Equity investments in affiliates	$ 1,165		$ 1,172
Conventional Generation, Utility-Scale Solar, Distributed Solar, and Wind [Member]
Nature of Business
Power generation capacity, megawatts \| MW	5,272
Clearway Energy, Inc. [Member]
Nature of Business
Ownership interest (as a percentage)	45.00%
Clearway Energy LLC [Member] \| CEG [Member]
Nature of Business
Ownership interest (as a percentage)	44.20%
Clearway Energy LLC [Member] \| Clearway Energy, Inc. [Member]
Nature of Business
Ownership interest (as a percentage)	55.80%
Clearway Energy LLC [Member] \| CEG [Member]
Nature of Business
Ownership interest (as a percentage)	55.00%
PG&E [Member]
Nature of Business
Number of solar leases in portfolio \| facility		6
Property, plant and equipment, net	$ 1,400
Equity investments in affiliates	357
Borrowings	$ 1,300
PG&E [Member] \| Solar Facilities [Member]
Nature of Business
Steam and chilled water capacity, megawatts thermal equivalent \| MW		480
Marsh Landing [Member] \| Solar Facilities [Member]
Nature of Business
Steam and chilled water capacity, megawatts thermal equivalent \| MW		720

Summary of Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 93	$ 407
Restricted cash	203	176
Cash, cash equivalents and restricted cash shown in the statement of cash flows	296	583	$ 269	$ 316
Operating Funds [Member]
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	60
Long Term Debt Current [Member]
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	45
Debt Service Obligations [Member]
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	42
Cash Distribution [Member]
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	56
Subsidiaries Affected By Bankruptcy [Member]
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	36
Project Level Subsidiaries [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, held at project subsidiaries	$ 86	$ 109

Summary of Significant Accounting Policies - Dividends Paid (Details) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019
Accounting Policies [Abstract]
Common stock, dividends, per share, cash paid (in dollars per share)	$ 0.20	$ 0.20

Summary of Significant Accounting Policies - Disaggregated Revenues (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	$ 57,000,000	$ 57,000,000	$ 119,000,000	$ 119,000,000
Total operating revenues	284,000,000	307,000,000	501,000,000	532,000,000
Revenue		268,000,000		448,000,000
Lease revenue	244,000,000		423,000,000
Contract amortization	17,000,000	18,000,000	34,000,000	(35,000,000)
Mark-to-market for economic hedging activities			7,000,000
Conventional Generation [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	0	1,000,000	0	0
Total operating revenues	84,000,000	85,000,000	163,000,000	164,000,000
Revenue		86,000,000		167,000,000
Lease revenue	86,000,000
Contract amortization	2,000,000	2,000,000		(3,000,000)
Renewables [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	11,000,000	12,000,000	22,000,000	26,000,000
Total operating revenues	153,000,000	177,000,000	241,000,000	275,000,000
Revenue		181,000,000		280,000,000
Lease revenue	157,000,000
Contract amortization	15,000,000	16,000,000		(31,000,000)
Thermal [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	46,000,000	44,000,000	97,000,000	93,000,000
Total operating revenues	47,000,000	45,000,000	97,000,000	93,000,000
Revenue		1,000,000		1,000,000
Lease revenue	1,000,000
Contract amortization	0	0		(1,000,000)
Energy Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	169,000,000	191,000,000		305,000,000
Total operating revenues			279,000,000
Lease revenue	159,000,000	183,000,000	259,000,000	284,000,000
Energy Revenue [Member] \| Conventional Generation [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	1,000,000	2,000,000		3,000,000
Lease revenue	1,000,000	1,000,000	2,000,000	3,000,000
Energy Revenue [Member] \| Renewables [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	166,000,000	188,000,000		300,000,000
Lease revenue	157,000,000	181,000,000	256,000,000	280,000,000
Energy Revenue [Member] \| Thermal [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	2,000,000	1,000,000		2,000,000
Lease revenue	1,000,000	1,000,000	1,000,000	1,000,000
Capacity Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	123,000,000	123,000,000		244,000,000
Total operating revenues			246,000,000
Lease revenue	85,000,000	85,000,000	164,000,000	164,000,000
Capacity Revenue [Member] \| Conventional Generation [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	85,000,000	85,000,000		164,000,000
Lease revenue	85,000,000	85,000,000	164,000,000	164,000,000
Capacity Revenue [Member] \| Renewables [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0		0
Lease revenue	0	0	0	0
Capacity Revenue [Member] \| Thermal [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	38,000,000	38,000,000		80,000,000
Lease revenue	0	0	0	0
Products And Services, Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	9,000,000	11,000,000		18,000,000
Total operating revenues			17,000,000
Products And Services, Other [Member] \| Conventional Generation [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	0	0		0
Products And Services, Other [Member] \| Renewables [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	2,000,000	5,000,000		6,000,000
Products And Services, Other [Member] \| Thermal [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, excluding assessed tax	7,000,000	6,000,000		12,000,000
Revenue, Related to Leases [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			501,000,000
Lease revenue	244,000,000	268,000,000	423,000,000	448,000,000
Revenue, Related to Leases [Member] \| Conventional Generation [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues		85,000,000	163,000,000
Lease revenue	86,000,000	86,000,000	166,000,000	167,000,000
Revenue, Related to Leases [Member] \| Renewables [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues		177,000,000	241,000,000
Lease revenue	157,000,000	181,000,000	256,000,000	280,000,000
Revenue, Related to Leases [Member] \| Thermal [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues		45,000,000	97,000,000
Lease revenue	$ 1,000,000	$ 1,000,000	1,000,000	$ 1,000,000
Operating Segments [Member] \| Conventional Generation [Member]
Disaggregation of Revenue [Line Items]
Lease revenue			166,000,000
Contract amortization			3,000,000
Mark-to-market for economic hedging activities			0
Operating Segments [Member] \| Renewables [Member]
Disaggregation of Revenue [Line Items]
Lease revenue			256,000,000
Contract amortization			30,000,000
Mark-to-market for economic hedging activities			7,000,000
Operating Segments [Member] \| Thermal [Member]
Disaggregation of Revenue [Line Items]
Lease revenue			1,000,000
Contract amortization			1,000,000
Mark-to-market for economic hedging activities			0
Operating Segments [Member] \| Energy Revenue [Member] \| Conventional Generation [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			2,000,000
Operating Segments [Member] \| Energy Revenue [Member] \| Renewables [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			274,000,000
Operating Segments [Member] \| Energy Revenue [Member] \| Thermal [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			3,000,000
Operating Segments [Member] \| Capacity Revenue [Member] \| Conventional Generation [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			164,000,000
Operating Segments [Member] \| Capacity Revenue [Member] \| Renewables [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			0
Operating Segments [Member] \| Capacity Revenue [Member] \| Thermal [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			82,000,000
Operating Segments [Member] \| Products And Services, Other [Member] \| Conventional Generation [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			0
Operating Segments [Member] \| Products And Services, Other [Member] \| Renewables [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			4,000,000
Operating Segments [Member] \| Products And Services, Other [Member] \| Thermal [Member]
Disaggregation of Revenue [Line Items]
Total operating revenues			$ 13,000,000

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended
	Sep. 17, 2019	Sep. 03, 2019	Aug. 01, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2018
Summary of Significant Accounting Policies [Line Items]
Property, Plant and Equipment Accumulated Depreciation						$ 1,731	$ 1,590
Intangible Assets Accumulated Amortization						343	$ 308
Accounts receivable, after allowance for credit loss						131
Subsequent Event [Member]
Summary of Significant Accounting Policies [Line Items]
Common stock, dividends, per share, declared			$ 0.20
Dividends payable, date declared			Aug. 01, 2019
Dividends payable, date to be paid	Sep. 17, 2019
Dividends payable, date of record		Sep. 03, 2019
Common Class B [Member]
Summary of Significant Accounting Policies [Line Items]
Distribution made to limited liability company (LLC) member, distributions paid, per unit				$ 0.20	$ 0.20
Common Class D [Member]
Summary of Significant Accounting Policies [Line Items]
Distribution made to limited liability company (LLC) member, distributions paid, per unit				$ 0.20	$ 0.20
Customer Contracts [Member]
Summary of Significant Accounting Policies [Line Items]
Accounts receivable, after allowance for credit loss						37
Lease Agreements [Member]
Summary of Significant Accounting Policies [Line Items]
Accounts receivable, after allowance for credit loss						$ 94

Business Acquisitions - Duquesne University District Energy System Acquisition (Details) $ in Millions	May 01, 2019 USD ($) MW	Jun. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)
Business Acquisition [Line Items]
Long-term debt		$ 6,184	$ 6,044
Duquesne University District Energy System
Business Acquisition [Line Items]
Power purchase agreement period	40 years
Purchase price	$ 107
Acquisition funded by cash on hand	100
Long-term debt	$ 95
ECP Uptown Campus LLC
Business Acquisition [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW	87

Business Acquisitions - UPMC Thermal (Details) $ in Millions		1 Months Ended
	Jun. 19, 2018 USD ($)	Jan. 31, 2019 USD ($)	Jun. 30, 2019 MW	Dec. 31, 2018 USD ($)
UPMC Thermal [Member]
Business Acquisition [Line Items]
Business combination, consideration transferred \| $	$ 84	$ 3
UPMC Thermal [Member] \| Thermal [Member]
Business Acquisition [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW			73
Power generation capacity, megawatts \| MW			7.5
NRG [Member]
Business Acquisition [Line Items]
Accounts payable, related parties \| $				$ 4

Business Acquisitions - Central CA Fuel Cell (Details) - Central CA Fuel Cell 1 [Member] $ in Millions	Apr. 18, 2018 USD ($) MW
Business Acquisition [Line Items]
Business combination, consideration transferred \| $	$ 11
Power generation capacity, megawatts \| MW	2.8
Power purchase agreement period	20 years

Business Acquisitions - Buckthorn Solar Drop Down Asset (Details) $ in Millions			1 Months Ended
	May 31, 2018 USD ($)	Mar. 31, 2018 USD ($)	Jul. 31, 2018	Jun. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 30, 2018 USD ($) MW
Business Acquisition [Line Items]
Long-term debt				$ 6,184	$ 6,044
Buckthorn Solar Drop Down Asset [Member]
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired							100.00%
Power generation capacity, megawatts \| MW							154
Business combination, consideration transferred		$ 42
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value						$ 19
Power purchase agreement period			25 years
Buckthorn Solar, due 2025 [Member]
Business Acquisition [Line Items]
Long-term debt	$ 132			$ 131	$ 132
Buckthorn Solar, due 2025 [Member] \| Buckthorn Solar Drop Down Asset [Member]
Business Acquisition [Line Items]
Long-term debt							$ 183
Buckthorn Solar Drop Down Asset [Member]
Business Acquisition [Line Items]
Net distributions from noncontrolling interests	$ 80

Investments Accounted for by the Equity Method and Variable Interest Entities - Consolidated Entities (Details) $ in Millions					6 Months Ended
	Jan. 02, 2019 USD ($)	Aug. 31, 2018 USD ($) MW	Mar. 31, 2018 USD ($)	Mar. 30, 2018 MW	Jun. 30, 2019 USD ($)	May 07, 2019 USD ($)	Mar. 08, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 30, 2018 USD ($)
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest					$ 322			$ 402
Percentage of cash available for distributions					95.00%
Other current and non-current assets					$ 2,631			2,499
Property, plant and equipment					5,602			5,245
Intangible assets					1,121			1,156
Total assets					8,731			8,500
Liabilities					6,677			$ 6,276
Kawailoa Solar Partnership LLC [Member]
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets					35
Property, plant and equipment					145
Intangible assets					0
Total assets					180
Liabilities					161
Noncontrolling interest					19
Net assets less noncontrolling interests					0
Oahu Solar Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets					35
Property, plant and equipment					189
Intangible assets					0
Total assets					224
Liabilities					181
Noncontrolling interest					19
Net assets less noncontrolling interests					24
Repowering Partnership LLC [Member]
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets					23
Property, plant and equipment					266
Intangible assets					1
Total assets					290
Liabilities					28
Noncontrolling interest					7
Net assets less noncontrolling interests					255
Buckthorn Solar Drop Down Asset [Member]
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets					11
Property, plant and equipment					219
Intangible assets					0
Total assets					230
Liabilities					137
Noncontrolling interest					55
Net assets less noncontrolling interests					38
Alta X and XI TE Holdco [Member]
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets					69
Property, plant and equipment					393
Intangible assets					243
Total assets					705
Liabilities					47
Noncontrolling interest					59
Net assets less noncontrolling interests					599
Spring Canyon [Member]
Schedule of Equity Method Investments [Line Items]
Other current and non-current assets					3
Property, plant and equipment					88
Intangible assets					0
Total assets					91
Liabilities					6
Noncontrolling interest					38
Net assets less noncontrolling interests					$ 47
Kawailoa Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire businesses, gross		$ 9
Power generation capacity, megawatts \| MW		49
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value						$ 2
Business combination, capital contribution, percent						20.00%
Non-recourse debt						$ 120
Noncontrolling interest						21
Accounts payable, related parties						$ 7
Business combination, capital contribution payable, percent						80.00%
Zephyr Oahu Partnership LLC [Member]
Schedule of Equity Method Investments [Line Items]
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value							$ 4
Business combination, capital contribution, percent							20.00%
Non-recourse debt							$ 143
Business combination, capital contribution payable, percent							80.00%
Buckthorn Solar Drop Down Asset [Member]
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW				154
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value									$ 19
Business acquisition, percentage of voting interests acquired				100.00%
Business combination, consideration transferred			$ 42
Tax Equity Investors [Member] \| Zephyr Oahu Partnership LLC [Member]
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest							$ 18
Oahu Solar Partnership [Member] \| Zephyr Oahu Partnership LLC [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire businesses, gross		$ 20
Oahu Solar, Lanikuhana [Member]
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW		15
Oahu Solar, Waipio [Member]
Schedule of Equity Method Investments [Line Items]
Power generation capacity, megawatts \| MW		46
Financial Institutions [Member] \| November 2015 Drop Down Assets [Member]
Schedule of Equity Method Investments [Line Items]
Business acquisition, percentage of voting interests acquired	100.00%
Business combination, consideration transferred	$ 19
Third Party Investor [Member] \| Kawailoa Solar Project [Member]
Schedule of Equity Method Investments [Line Items]
Subsidiary of limited liability company or limited partnership, ownership interest					49.00%
Buckthorn Renewables, LLC [Member] \| Buckthorn Solar Portfolio, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Subsidiary of limited liability company or limited partnership, ownership interest				100.00%
Kawailoa Solar Partnership LLC [Member] \| Kawailoa Solar Project [Member]
Schedule of Equity Method Investments [Line Items]
Subsidiary of limited liability company or limited partnership, ownership interest					51.00%
Affiliated Entity [Member]
Schedule of Equity Method Investments [Line Items]
Accounts payable, related parties							$ 16
Percentage of cash available for distributions					5.00%
Variable Interest Entity, Primary Beneficiary [Member] \| Repowering Partnership Holdco LLC, due 2020 [Member]
Schedule of Equity Method Investments [Line Items]
Non-recourse construction debt					$ 219
Commitment to Invest					$ 111

Investments Accounted for by the Equity Method and Variable Interest Entities - Unconsolidated Entities (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019 USD ($) MW	Dec. 31, 2018 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	$ 1,165	$ 1,172
Four Brothers Solar [Member]
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	187
Gen Conn Energy LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	96
DGPV Holdco 3 [Member]
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	140
Payments to acquire equity method investments	$ 8
Power generation capacity, megawatts \| MW	59
Remaining lease term	21 years
Due to affiliate	$ 19
DGPV Holdco 1 [Member]
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	83
Payments to acquire equity method investments	$ 2
Power generation capacity, megawatts \| MW	52
Remaining lease term	17 years
Granite Mountain Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	$ 67
DGPV Holdco 2 [Member]
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	62
Iron Springs Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	49
RPV Holdco [Member]
Schedule of Equity Method Investments [Line Items]
Equity investments in affiliates	$ 22

Fair Value of Financial Instruments - Balance Sheet Grouping (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt and lease obligation, including current maturities	$ 6,183	$ 6,043
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt and lease obligation, including current maturities	6,121	5,943
Fair Value, Inputs, Level 2 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt and lease obligation, including current maturities	1,507	1,620
Fair Value, Inputs, Level 3 [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt and lease obligation, including current maturities	$ 4,614	$ 4,323

Fair Value of Financial Instruments - Recurring Fair Value (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset	$ 0		$ 0		$ 11,000,000
Derivative liability, fair value, gross liability	79,000,000		79,000,000		21,000,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset	0		0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset	0		0
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	79,000,000		79,000,000		21,000,000
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), fair value	0		0		0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	72,000,000		72,000,000
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	7,000,000		7,000,000
Derivative assets (liabilities), fair value					0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	(7,000,000)	$ 0	0	$ 0
Purchases	0	0	(7,000,000)	0
Ending balance	(7,000,000)	$ 0	(7,000,000)	$ 0
Commodity Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset	0		0
Derivative liability, fair value, gross liability	8,000,000		8,000,000
Commodity Contract [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	8,000,000		8,000,000		0
Commodity Contract [Member] \| Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	1,000,000		1,000,000
Commodity Contract [Member] \| Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value, gross liability	7,000,000		7,000,000
Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset	0		0		11,000,000
Derivative liability, fair value, gross liability	71,000,000		71,000,000		21,000,000
Interest Rate Contract [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset	0		0		11,000,000
Derivative liability, fair value, gross liability	71,000,000		71,000,000		$ 21,000,000
Interest Rate Contract [Member] \| Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset	0		0
Derivative liability, fair value, gross liability	71,000,000		71,000,000
Interest Rate Contract [Member] \| Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset	0		0
Derivative liability, fair value, gross liability	$ 0		$ 0

Fair Value of Financial Instruments - Narrative (Details) $ in Millions	Jun. 30, 2019 USD ($)	Jan. 29, 2019 facility MW
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of derivative liabilities using level 3 fair value inputs	10.00%
Fair value assets, measured on recurring basis, valuation techniques, impact of credit reserve to fair value	$ 7
PG&E [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of solar leases in portfolio \| facility		6
Accounts receivable, related parties	22
Accounts receivable, related parties, noncurrent	$ 5
Solar Facilities [Member] \| PG&E [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW		480
Solar Facilities [Member] \| Marsh Landing [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Steam and chilled water capacity, megawatts thermal equivalent \| MW		720

Fair Value of Financial Instruments - Significant Unobservable Inputs (Details) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets (liabilities), fair value		$ 0
Energy Related Derivative [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset	$ 0
Derivative liability	7
Energy Related Derivative [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets (liabilities), fair value	7
Energy Related Derivative [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets (liabilities), fair value	31
Energy Related Derivative [Member] \| Weighted Average [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative assets (liabilities), fair value	$ 12

Derivative Instruments and Hedging Activities - Volumetric Underlying Derivative Transactions (Details) MWh in Millions, MMBTU in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2019 USD ($) MWh MMBTU	Dec. 31, 2018 USD ($) MWh MMBTU
Power [Member]
Derivatives, Fair Value [Line Items]
Derivative nonmonetary notional amount (energy measure) \| MWh	2	0
Natural Gas [Member]
Derivatives, Fair Value [Line Items]
Derivative nonmonetary notional amount (energy measure) \| MMBTU	3	1
Interest [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount \| $	$ 1,773	$ 1,862

Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities - FV of Derivatives (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	$ 0	$ 11
Derivative liability, fair value, gross liability	79	21
Fair value of gross derivative assets/(liabilities), net	(79)	(10)
Derivative asset fair value gross liability net of derivative liability fair value gross asset	0	0
Derivative asset, fair value, amount offset against collateral net of derivative liability, fair value, amount offset against collateral	(79)	(10)
Derivative, collateral, right to reclaim cash	0	0
Derivative, collateral, obligation to return cash	0	0
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	5
Derivative liability, fair value, gross liability	14	7
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	6
Derivative liability, fair value, gross liability	65	14
Interest Rate Contract Current [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	2
Derivative liability, fair value, gross liability	2	1
Interest Rate Contract Current [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	1
Derivative liability, fair value, gross liability	10	3
Interest Rate Contract Non Current [Member] \| Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	3
Derivative liability, fair value, gross liability	12	6
Interest Rate Contract Non Current [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	5
Derivative liability, fair value, gross liability	47	11
Commodity Contract Current [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset		0
Derivative liability, fair value, gross liability	1	0
Commodity Contract Non Current [Member] \| Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset		0
Derivative liability, fair value, gross liability	7	0
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0
Derivative liability, fair value, gross liability	8
Derivative asset, fair value, gross liability	0
Derivative liability, fair value, gross asset	0
Derivative asset	0
Derivative liability	(8)
Fair value of gross derivative assets/(liabilities), net	(8)
Derivative asset fair value gross liability net of derivative liability fair value gross asset	0
Derivative asset, fair value, amount offset against collateral net of derivative liability, fair value, amount offset against collateral	(8)
Interest Rate Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	11
Derivative liability, fair value, gross liability	71	21
Derivative asset, fair value, gross liability	0	(1)
Derivative liability, fair value, gross asset	0	1
Derivative asset	0	10
Derivative liability	(71)	(20)
Fair value of gross derivative assets/(liabilities), net	(71)	(10)
Derivative asset fair value gross liability net of derivative liability fair value gross asset	0	0
Derivative asset, fair value, amount offset against collateral net of derivative liability, fair value, amount offset against collateral	(71)	(10)
Interest [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount	$ 1,773	$ 1,862

Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities - AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated OCL beginning balance	$ 2,145	$ 2,126	$ 2,224	$ 2,159
Mark-to-market of cash flow hedge accounting contracts	5	7	3	24
Accumulated OCL ending balance	2,054	2,288	2,054	2,288
Accumulated OCL ending balance, income tax benefit	(6)	(6)	(6)	(6)
Accumulated other comprehensive loss	(16)		(16)		$ (18)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $0			(9)
Losses expected to be realized from OCL during the next 12 months, tax amount	0		0
AOCI Including Portion Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated OCL beginning balance	(40)	(43)	(38)	(60)
Accumulated OCL ending balance	(35)	(36)	(35)	(36)
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	14	2	17	6
Mark-to-market of cash flow hedge accounting contracts	(9)	5	(14)	18
Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated OCL beginning balance	373	371	402	412
Accumulated OCL ending balance	322	419	322	419
Accumulated other comprehensive loss	(19)	(19)	(19)	(19)
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated OCL beginning balance	(19)	(20)	(18)	(28)
Accumulated OCL ending balance	(16)	(17)	(16)	(17)
Accumulated other comprehensive loss	$ (16)	$ (17)	$ (16)	$ (17)

Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities - Impact to Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives	$ 5	$ (2)	$ 7	$ 17
Interest Rate Contract [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives	$ (36)		$ 7		$ (54)	$ 31
Energy Related Derivative [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative loss					$ 7

Long-term Debt - Debt Table (Details) - USD ($) $ in Millions			6 Months Ended
	Jun. 14, 2019	Apr. 29, 2019	Jun. 30, 2019	Jun. 20, 2019	May 01, 2019	Feb. 01, 2019	Dec. 31, 2018	May 31, 2018
Debt Instrument [Line Items]
Long-term debt			$ 6,184				$ 6,044
Current portion of long-term debt			(1,914)				(535)
Debt issuance costs, net			(77)				(61)
Debt instrument, unamortized discount			(1)				(1)
Long-term debt, excluding current maturities			4,192				5,447
3.5% Convertible Notes due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 0			$ 170	220
Debt instrument, interest rate, stated percentage			3.50%
3.25% Convertible Notes due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 45				45
Debt instrument, interest rate, stated percentage			3.25%
5.375% Senior Notes due in 2024 [Member]
Debt Instrument [Line Items]
Senior notes			$ 500				500
Debt instrument, interest rate, stated percentage			5.375%
5.75% Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Senior notes			$ 600				600
Debt instrument, interest rate, stated percentage			5.75%
5.00% Senior Notes due in 2026 [Member]
Debt Instrument [Line Items]
Senior notes			$ 350				350
Debt instrument, interest rate, stated percentage			5.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt			$ 0				0
Debt instrument, basis spread on variable rate			1.75%
Debt instrument, description of variable rate basis			3-Month LIBOR
Agua Caliente Borrower 2 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 38				39
Debt instrument, interest rate, stated percentage			5.43%
Alpine Financing Agreement, due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 125				127
Debt instrument, basis spread on variable rate			1.75%
Debt instrument, description of variable rate basis			3-Month LIBOR
Alta Wind I-V, lease financing arrangement, due 2034 and 2035 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 859				886
Buckthorn Solar, due 2025 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 131				132	$ 132
Debt instrument, basis spread on variable rate			1.75%
Debt instrument, description of variable rate basis			1-Month LIBOR
CVSR, due 2037 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 704				720
CVSR Holdco due 2037 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 182				188
Debt instrument, interest rate, stated percentage			4.68%
Duquesne Due 2059 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 95				0
Debt instrument, interest rate, stated percentage			4.62%
El Segundo Energy Center, due 2023 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 320				352
Debt instrument, description of variable rate basis			3-Month LIBOR
Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 328				328
Laredo Ridge Wind, LLC, due in 2026 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 86				89
Debt instrument, basis spread on variable rate			2.125%
Debt instrument, description of variable rate basis			3-Month LIBOR
Kansas South, due in 2030 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 25				26
Debt instrument, basis spread on variable rate			2.00%
Debt instrument, description of variable rate basis			3-Month LIBOR
Kawailoa Solar Holdings LLC, due 2026 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 128				0
Marsh Landing Term Loan Facility [Member]
Debt Instrument [Line Items]
Long-term debt			$ 249				263
Debt instrument, basis spread on variable rate			2.125%
Debt instrument, description of variable rate basis			3-Month LIBOR
Oahu Solar Holdings LLC, due 2026 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 150				0
Debt instrument, basis spread on variable rate			1.375%
Debt instrument, description of variable rate basis			3-Month LIBOR
Repowering Partnership Holdco LLC, due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 219				0
South Trent Wind Due 2028 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 44				50
Debt instrument, basis spread on variable rate			1.35%
Debt instrument, description of variable rate basis			3-Month LIBOR
Tapestry Wind LLC due in 2031 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 161				151
Debt instrument, basis spread on variable rate			1.375%
Debt instrument, description of variable rate basis			3-Month LIBOR
Utah Solar Portfolio, due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 260				267
Viento Funding II, Inc., due in 2023 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 42				146
Debt instrument, basis spread on variable rate			2.00%
Debt instrument, description of variable rate basis			3-Month LIBOR
Walnut Creek Energy, LLC, due in 2023 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 209				222
Debt instrument, basis spread on variable rate			1.75%
Debt instrument, description of variable rate basis			3-Month LIBOR
Other Debt [Member]
Debt Instrument [Line Items]
Long-term debt			$ 334				343
Project Level Debt [Member]
Debt Instrument [Line Items]
Long-term debt			$ 4,689				$ 4,329
West Holdings Credit Agreement due 2023 Tranche A [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.75%
West Holdings Credit Agreement due 2023 Tranche B [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.375%
Minimum [Member] \| Alta Wind I-V, lease financing arrangement, due 2034 and 2035 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			5.696%
Minimum [Member] \| CVSR, due 2037 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			2.339%
Maximum [Member] \| Alta Wind I-V, lease financing arrangement, due 2034 and 2035 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			7.015%
Maximum [Member] \| CVSR, due 2037 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			3.775%
Letter of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			$ 45
Letter of Credit [Member] \| Agua Caliente Borrower 2 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			17
Letter of Credit [Member] \| Alpine Financing Agreement, due 2022 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			16
Letter of Credit [Member] \| Alta Wind I-V, lease financing arrangement, due 2034 and 2035 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			29
Letter of Credit [Member] \| Buckthorn Solar, due 2025 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			26
Letter of Credit [Member] \| CVSR, due 2037 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			0
Letter of Credit [Member] \| CVSR Holdco due 2037 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			13
Letter of Credit [Member] \| Duquesne Due 2059 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage					4.62%
Letter of Credit [Member] \| El Segundo Energy Center, due 2023 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			138
Letter of Credit [Member] \| Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			0
Letter of Credit [Member] \| Laredo Ridge Wind, LLC, due in 2026 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			10
Letter of Credit [Member] \| Kansas South, due in 2030 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			2
Letter of Credit [Member] \| Kawailoa Solar Holdings LLC, due 2026 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			4
Letter of Credit [Member] \| Marsh Landing Term Loan Facility [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			46
Letter of Credit [Member] \| Oahu Solar Holdings LLC, due 2026 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			10
Letter of Credit [Member] \| Repowering Partnership Holdco LLC, due 2020 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			29
Letter of Credit [Member] \| South Trent Wind Due 2028 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			12
Letter of Credit [Member] \| Tapestry Wind LLC due in 2031 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			24	$ 6
Letter of Credit [Member] \| Utah Solar Portfolio, due 2022 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			13
Letter of Credit [Member] \| Viento Funding II, Inc., due in 2023 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			14
Letter of Credit [Member] \| Walnut Creek Energy, LLC, due in 2023 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			93
Letter of Credit [Member] \| Other Debt [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount			$ 24
London Interbank Offered Rate (LIBOR) [Member] \| Kansas South, due in 2030 [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.00%
London Interbank Offered Rate (LIBOR) [Member] \| Utah Solar Portfolio, due 2022 [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.625%
London Interbank Offered Rate (LIBOR) [Member] \| Letter of Credit [Member] \| South Trent Wind Due 2028 [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.35%
London Interbank Offered Rate (LIBOR) [Member] \| Letter of Credit [Member] \| Tapestry Wind LLC due in 2031 [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.375%

Long-term Debt - Debt Disclosures (Details) - USD ($)				1 Months Ended	6 Months Ended
Long-term Debt - Debt Disclosures (Details) - USD ($)	Jun. 14, 2019	May 07, 2019	Apr. 29, 2019	Jan. 31, 2019	Jun. 30, 2019	Jun. 20, 2019	May 01, 2019	Mar. 08, 2019	Feb. 01, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt					$ 6,184,000,000					$ 6,044,000,000
Due from affiliate, current					1,000,000					0
3.5% Convertible Notes due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt					$ 0				$ 170,000,000	220,000,000
Debt instrument, interest rate, stated percentage					3.50%
Repayments of debt				$ 50,000,000
Repowering Partnership Holdco LLC, due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt					$ 219,000,000					0
Duquesne Due 2059 [Member]
Debt Instrument [Line Items]
Long-term debt					$ 95,000,000					0
Debt instrument, interest rate, stated percentage					4.62%
3.25% Convertible Notes due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt					$ 45,000,000					45,000,000
Debt instrument, interest rate, stated percentage					3.25%
5.75% Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage					5.75%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt					$ 0					0
Debt instrument, basis spread on variable rate					1.75%
Line of credit facility, fair value of amount outstanding					$ 0
CVSR Holdco due 2037 [Member]
Debt Instrument [Line Items]
Long-term debt					$ 182,000,000					188,000,000
Debt instrument, interest rate, stated percentage					4.68%
Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037 [Member]
Debt Instrument [Line Items]
Long-term debt					$ 328,000,000					328,000,000
South Trent Wind Due 2028 [Member]
Debt Instrument [Line Items]
Long-term debt					$ 44,000,000					50,000,000
Debt instrument, basis spread on variable rate					1.35%
Tapestry Wind LLC due in 2031 [Member]
Debt Instrument [Line Items]
Long-term debt					$ 161,000,000					$ 151,000,000
Debt instrument, basis spread on variable rate					1.375%
Letter of Credit [Member] \| Repowering Partnership Holdco LLC, due 2020 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount					$ 29,000,000
Letter of Credit [Member] \| Duquesne Due 2059 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage							4.62%
Non-recourse construction debt							$ 95,000,000
Letter of Credit [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount					45,000,000
Letter of Credit [Member] \| CVSR Holdco due 2037 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount					13,000,000
Letter of Credit [Member] \| Energy Center Minneapolis Series D, E, F, G, H Notes, due 2025-2037 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount					0
Letter of Credit [Member] \| South Trent Wind Due 2028 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount					12,000,000
Non-recourse construction debt	$ 46,000,000
Letter of Credit [Member] \| Tapestry Wind LLC due in 2021 [Member]
Debt Instrument [Line Items]
Long-term debt			$ 147,000,000
Letter of Credit [Member] \| Tapestry Wind LLC due in 2031 [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount					24,000,000	$ 6,000,000
Non-recourse construction debt			$ 164,000,000
Zephyr Oahu Partnership LLC [Member]
Debt Instrument [Line Items]
Non-recourse debt								$ 143,000,000
Kawailoa Partnership [Member]
Debt Instrument [Line Items]
Non-recourse debt		$ 120,000,000
Kawailoa Partnership [Member] \| Letter of Credit [Member] \| South Trent Wind LLC Due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 49,000,000
PG&E [Member]
Debt Instrument [Line Items]
Due from affiliate, current					$ 1,300,000,000
London Interbank Offered Rate (LIBOR) [Member] \| Letter of Credit [Member] \| South Trent Wind Due 2028 [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.35%
London Interbank Offered Rate (LIBOR) [Member] \| Letter of Credit [Member] \| Tapestry Wind LLC due in 2021 [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.75%
London Interbank Offered Rate (LIBOR) [Member] \| Letter of Credit [Member] \| Tapestry Wind LLC due in 2031 [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.375%
London Interbank Offered Rate (LIBOR) [Member] \| Zephyr Oahu Partnership LLC [Member] \| Oahu Solar Holdings LLC Debt [Member]
Debt Instrument [Line Items]
Derivative, basis spread on variable rate								1.375%
London Interbank Offered Rate (LIBOR) [Member] \| Kawailoa Partnership [Member] \| Kawailoa Solar Holdings LLC Debt [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.375%
London Interbank Offered Rate (LIBOR) [Member] \| Kawailoa Partnership [Member] \| Letter of Credit [Member] \| South Trent Wind LLC Due 2020 [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.625%
Loans Payable [Member] \| Repowering Partnership Holdco LLC, due 2020 [Member]
Debt Instrument [Line Items]
Proceeds of debt utilized to repay related party	$ 109,000,000
Non-recourse construction debt	$ 219,000,000
Loans Payable [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Repowering Partnership Holdco LLC, due 2020 [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.85%

Earnings Per Share - Schedule of Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Basic earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income (loss) attributable to Clearway Energy, Inc.	$ (24)	$ 79	$ (44)	$ 95
Common Class A [Member]
Basic earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income (loss) attributable to Clearway Energy, Inc.	$ (8)	$ 27	$ (14)	$ 33
Weighted average number of common shares outstanding — basic	35	35	35	35
Earnings per weighted average common (in dollars per share)	$ (0.22)	$ 0.77	$ (0.41)	$ 0.94
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$ (8)	$ 30	$ (14)	$ 40
Weighted average number of common shares outstanding — diluted	35	49	35	49
Earnings per weighted average common share — diluted (in dollars per share)	$ (0.22)	$ 0.61	$ (0.41)	$ 0.80
Common Class C [Member]
Basic earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income (loss) attributable to Clearway Energy, Inc.	$ (16)	$ 52	$ (30)	$ 62
Weighted average number of common shares outstanding — basic	73	67	73	66
Earnings per weighted average common (in dollars per share)	$ (0.22)	$ 0.77	$ (0.41)	$ 0.94
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$ (16)	$ 55	$ (30)	$ 68
Weighted average number of common shares outstanding — diluted	73	78	73	77
Earnings per weighted average common share — diluted (in dollars per share)	$ (0.22)	$ 0.70	$ (0.41)	$ 0.89

Earnings Per Share - Antidilutive Equity Instruments Not Included in Calculation of Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Common Class A [Member] \| 3.5% Convertible Notes due 2019 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding antidilutive equity instruments (in shares)	0	0	0	0
Common Class C [Member] \| 3.25% Convertible Notes due 2020 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding antidilutive equity instruments (in shares)	2	0	2	0

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Segment Reporting (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Operating revenues	$ 284	$ 307	$ 501	$ 532
Cost of operations	79	74	163	163
Depreciation and amortization	89	82	173	163
Impairment losses	19	0	19	0
General and administrative	7	6	13	11
Transaction and integration costs	1	1	2	2
Development costs	2	0	3	0
Operating Income	87	144	128	193
Equity in earnings of unconsolidated affiliates	11	29	14	33
Other income, net	1	1	4	2
Loss on debt extinguishment	(1)	0	(1)	0
Interest expense	(130)	(71)	(231)	(126)
(Loss) Income Before Income Taxes	(32)	103	(86)	102
Income tax expense (benefit)	4	7	(3)	6
Net (Loss) Income	(36)	96	(83)	96
Total Assets	8,731		8,731		$ 8,500
Conventional Generation [Member]
Segment Reporting Information [Line Items]
Operating revenues	84	85	163	164
Cost of operations	13	10	30	32
Depreciation and amortization	25	24	50	50
Impairment losses	0		0
General and administrative	0	0	0	0
Transaction and integration costs	0	0	0	0
Development costs	0		0
Operating Income	46	51	83	82
Equity in earnings of unconsolidated affiliates	2	2	4	5
Other income, net	0	1	1	1
Loss on debt extinguishment	0
Interest expense	(16)	(13)	(32)	(20)
(Loss) Income Before Income Taxes	32	41	56
Income tax expense (benefit)	0	0	0	0
Net (Loss) Income	32	41	56	68
Total Assets	1,776		1,776
Renewables [Member]
Segment Reporting Information [Line Items]
Operating revenues	153	177	241	275
Cost of operations	36	33	70	67
Depreciation and amortization	57	52	110	102
Impairment losses	0		0
General and administrative	0	0	0	0
Transaction and integration costs	0	0	0	0
Development costs	0		0
Operating Income	60	92	61	106
Equity in earnings of unconsolidated affiliates	9	27	10	28
Other income, net	1	0	2	1
Loss on debt extinguishment	(1)		(1)
Interest expense	(89)	(35)	(148)	(59)
(Loss) Income Before Income Taxes	(20)	84	(76)
Income tax expense (benefit)	0	0	0	0
Net (Loss) Income	(20)	84	(76)	76
Total Assets	6,262		6,262
Thermal [Member]
Segment Reporting Information [Line Items]
Operating revenues	47	45	97	93
Cost of operations	30	31	63	64
Depreciation and amortization	7	6	13	11
Impairment losses	19		19
General and administrative	0	0	1	0
Transaction and integration costs	0	0	0	0
Development costs	2		3
Operating Income	(11)	8	(2)	18
Equity in earnings of unconsolidated affiliates	0	0	0	0
Other income, net	0	0	0	0
Loss on debt extinguishment	0		0
Interest expense	(4)	(2)	(8)	(4)
(Loss) Income Before Income Taxes	(15)	6	(10)
Income tax expense (benefit)	0	0	0	0
Net (Loss) Income	(15)	6	(10)	14
Total Assets	618		618
Corporate [Member]
Segment Reporting Information [Line Items]
Operating revenues	0	0	0	0
Cost of operations	0	0	0	0
Depreciation and amortization	0	0	0	0
Impairment losses	0		0
General and administrative	7	6	12	11
Transaction and integration costs	1	1	2	2
Development costs	0		0
Operating Income	(8)	(7)	(14)	(13)
Equity in earnings of unconsolidated affiliates	0	0	0	0
Other income, net	0	0	1	0
Loss on debt extinguishment	0		0
Interest expense	(21)	(21)	(43)	(43)
(Loss) Income Before Income Taxes	(29)	(28)	(56)	(56)
Income tax expense (benefit)	4	7	(3)	6
Net (Loss) Income	(33)	$ (35)	(53)	$ (62)
Total Assets	$ 75		$ 75

Income Taxes (Provision) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Provision) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Loss before income tax benefit	$ (32)	$ 103	$ (86)	$ 102
Income tax expense (benefit)	$ 4	$ 7	$ (3)	$ 6
Effective income tax rate	(12.50%)	6.80%	3.50%	5.90%

Related Party Transactions (Details) $ in Millions	3 Months Ended		6 Months Ended
Related Party Transactions (Details) $ in Millions	Jun. 30, 2019 USD ($) renewal_option	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) renewal_option	Jun. 30, 2018 USD ($)	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)
Related Party Transaction
Right of use assets, net	$ 183		$ 183		$ 168	$ 0
Operating lease liabilities	191		191		$ 174
General and administrative	7	$ 6	13	$ 11
NRG [Member]
Related Party Transaction
Revenue from related parties		3		6
RENOM [Member]
Related Party Transaction
Expenses from transactions with related party	9	8	17	17
Due to affiliate	$ 6		$ 6			$ 6
CEG [Member]
Related Party Transaction
Lease period (in years)	35 years		35 years
Renewal period (in years)	5 years		5 years
Number of renewal options \| renewal_option	2		2
Right of use assets, net	$ 18		$ 18
Operating lease liabilities	$ 18		$ 18
ESEC [Member] \| NRG West Coast LLC [Member]
Related Party Transaction
Expenses from transactions with related party		4		4
Thermal [Member] \| NRG [Member]
Related Party Transaction
Expenses from transactions with related party		2		6
Marsh Landing [Member] \| NRG [Member]
Related Party Transaction
Expenses from transactions with related party		6		9
NRG Yield [Member] \| NRG [Member]
Related Party Transaction
General and administrative		3		5
Operations and Maintenance services [Member] \| GCE Holding LLC [Member]
Related Party Transaction
Expenses from transactions with related party		2		3
Operations and Maintenance services [Member] \| NRG [Member]
Related Party Transaction
Expenses from transactions with related party		$ 10		$ 20

Leases - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating lease liabilities	$ 191	$ 174
ROU Assets - operating leases	$ 183	$ 168	$ 0
Weighted average discount rate (as a percentage)	4.30%
Minimum [Member]
Lessee, Lease, Description [Line Items]
Weighted average discount rate (as a percentage)	4.04%
Maximum [Member]
Lessee, Lease, Description [Line Items]
Weighted average discount rate (as a percentage)	4.67%

Leases - Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 2	$ 4
Variable lease cost	3	7
Total lease cost	$ 5	$ 11

Leases - Other Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
ROU Assets - operating leases	$ 183	$ 168	$ 0
Short- term lease liability - operating leases	5
Long- term lease liability - operating leases	186		$ 0
Total lease liability	191	$ 174
Cash paid for operating leases	$ 7
Weighted average remaining lease term (in years)	25 years
Weighted average discount rate (as a percentage)	4.30%

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019
Leases [Abstract]
Remainder of 2019	$ 5
2020	14
2021	14
2022	13
2023	13
Thereafter	249
Total lease payments	308
Less imputed interest	(117)
Total lease liability	$ 191	$ 174

Leases - Future Minimum Lease Commitments (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 13
2020	13
2021	13
2022	13
2023	12
Thereafter	207
Total lease payments	$ 271

Leases - Revenue Related to Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Lessor, Lease, Description [Line Items]
Total operating revenues	$ 284	$ 307	$ 501	$ 532
Lease revenue	244		423
Energy Revenue [Member]
Lessor, Lease, Description [Line Items]
Total operating revenues			279
Lease revenue	159	183	259	284
Revenue, Related to Leases [Member]
Lessor, Lease, Description [Line Items]
Total operating revenues			501
Lease revenue	244	268	423	448
Capacity Revenue [Member]
Lessor, Lease, Description [Line Items]
Total operating revenues			246
Lease revenue	85	85	164	164
Conventional Generation [Member]
Lessor, Lease, Description [Line Items]
Total operating revenues	84	85	163	164
Lease revenue	86
Conventional Generation [Member] \| Energy Revenue [Member]
Lessor, Lease, Description [Line Items]
Lease revenue	1	1	2	3
Conventional Generation [Member] \| Revenue, Related to Leases [Member]
Lessor, Lease, Description [Line Items]
Total operating revenues		85	163
Lease revenue	86	86	166	167
Conventional Generation [Member] \| Capacity Revenue [Member]
Lessor, Lease, Description [Line Items]
Lease revenue	85	85	164	164
Renewables [Member]
Lessor, Lease, Description [Line Items]
Total operating revenues	153	177	241	275
Lease revenue	157
Renewables [Member] \| Energy Revenue [Member]
Lessor, Lease, Description [Line Items]
Lease revenue	157	181	256	280
Renewables [Member] \| Revenue, Related to Leases [Member]
Lessor, Lease, Description [Line Items]
Total operating revenues		177	241
Lease revenue	157	181	256	280
Renewables [Member] \| Capacity Revenue [Member]
Lessor, Lease, Description [Line Items]
Lease revenue	0	0	0	0
Thermal [Member]
Lessor, Lease, Description [Line Items]
Total operating revenues	47	45	97	93
Lease revenue	1
Thermal [Member] \| Energy Revenue [Member]
Lessor, Lease, Description [Line Items]
Lease revenue	1	1	1	1
Thermal [Member] \| Revenue, Related to Leases [Member]
Lessor, Lease, Description [Line Items]
Total operating revenues		45	97
Lease revenue	1	1	1	1
Thermal [Member] \| Capacity Revenue [Member]
Lessor, Lease, Description [Line Items]
Lease revenue	$ 0	$ 0	$ 0	$ 0

Leases - Minimum Future Rent Payments (Details) $ in Millions	Jun. 30, 2019 USD ($)
Leases [Abstract]
Remainder of 2019	$ 226
2020	337
2021	341
2022	346
2023	154
Total lease payments	$ 1,404

Leases - Property, Plant and Equipment Related to Operating Leases (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Property Subject to or Available for Operating Lease [Line Items]
Accumulated depreciation	$ (1,731)	$ (1,590)
Net property, plant and equipment	5,602	$ 5,245
Assets Leased to Others [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property, plant and equipment	6,064
Accumulated depreciation	(1,509)
Net property, plant and equipment	$ 4,555

Asset Impairments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Asset Impairments (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Impairment losses	$ 19	$ 0	$ 19	$ 0
Thermal [Member]
Segment Reporting Information [Line Items]
Impairment losses	$ 19		$ 19

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (3,000,000)
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(1,000,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,000,000)