0001437749-19-021786 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2019	Oct. 31, 2019
Document Information [Line Items]
Entity Central Index Key	0001567683
Entity Registrant Name	Clearway Energy, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-36002
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class D [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		42,738,750
Common Class C [Member]
Document Information [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		73,336,990
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		42,738,750
Common Class A [Member]
Document Information [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

Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Operating Revenues

Total operating revenues

$ 296

$ 292

$ 797

$ 824

Operating Costs and Expenses

Cost of operations

249

247

Depreciation and amortization

112

285

247

Impairment losses

General and administrative

Transaction and integration costs

Development costs

Total operating costs and expenses

206

192

579

531

Operating Income

100

218

293

Other Income (Expense)

Equity in earnings of unconsolidated affiliates

Other income, net

Loss on debt extinguishment

(1)

Interest expense

(106)

(74)

(337)

(200)

Total other expense, net

(66)

(40)

(280)

(131)

Income (Loss) Before Income Taxes

(62)

162

Income tax (benefit) expense

(11)

(14)

Net Income (Loss)

(48)

145

Less: Pre-acquisition net income of Drop Down Assets

Net Income (Loss) Excluding Pre-acquisition Net Income of Drop Down Assets

(48)

141

Less: Income (Loss) attributable to noncontrolling interests

(4)

(43)

Net Income (Loss) Attributable to Clearway Energy, Inc.

(5)

116

Common Class A [Member]

Other Income (Expense)

Net Income (Loss) Attributable to Clearway Energy, Inc.

^[1]

$ 12

$ 7

$ (2)

$ 40

Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders

Weighted average number of Class A common shares outstanding - basic and diluted (in shares)

Weighted average number of Class C common shares outstanding - basic (in shares)

^[1]

Weighted average number of Class C common shares outstanding - diluted (in shares)

^[1]

Earnings (Losses) per Weighted Average Class A and Class C Common Share - Basic (in dollars per share)

^[1]

$ 0.36

$ 0.20

$ (0.04)

$ 1.14

Earnings (Losses) per Weighted Average Class A Common Share - Diluted (in dollars per share)

^[1]

0.36

0.20

(0.04)

1.14

Dividends Per Class A Common Share (in dollars per share)

$ 0.20

$ 0.32

$ 0.60

$ 0.927

Common Class C [Member]

Other Income (Expense)

Net Income (Loss) Attributable to Clearway Energy, Inc.

^[1]

$ 27

$ 14

$ (3)

$ 76

Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders

Weighted average number of Class C common shares outstanding - basic (in shares)

^[1]

Weighted average number of Class C common shares outstanding - diluted (in shares)

^[1]

Earnings (Losses) per Weighted Average Class A and Class C Common Share - Basic (in dollars per share)

^[1]

$ 0.36

$ 0.20

$ (0.04)

$ 1.14

Earnings (Losses) per Weighted Average Class A Common Share - Diluted (in dollars per share)

^[1]

0.36

0.20

(0.04)

1.10

Dividends Per Class A Common Share (in dollars per share)

0.20

0.32

0.60

0.927

Common Class A and C [Member]

Earnings Per Share Attributable to Clearway Energy, Inc. Class A and Class C Common Stockholders

Earnings (Losses) per Weighted Average Class A and Class C Common Share - Basic (in dollars per share)

$ 0.36

$ 0.20

$ (0.04)

$ 1.14

[1]	Basic and diluted earnings per share might not recalculate due to presenting values in millions rather than whole dollars.

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net Income (Loss)	$ 35	$ 49	$ (48)	$ 145
Other Comprehensive (Loss) Gain
Unrealized (loss) gain on derivatives, net of income tax benefit of $0, $1, $0 and $4	(1)	6	2	30
Other comprehensive (loss) gain	(1)	6	2	30
Comprehensive Income (Loss)	34	55	(46)	175
Less: Pre-acquisition net income of Drop Down Assets	0	0	0	4
Less: Comprehensive (loss) income attributable to noncontrolling interests	(4)	31	(42)	41
Comprehensive Income (Loss) Attributable to Clearway Energy, Inc.	$ 38	$ 24	$ (4)	$ 130

- Definition

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

+ References

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+ Details

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Unrealized gain on derivatives, income tax benefit	$ 0	$ 1,000	$ 0	$ 4,000

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 148	$ 407
Restricted cash	249	176
Accounts receivable — trade	141	104
Accounts receivable — affiliate	3	0
Inventory	43	40
Derivative instruments	1	0
Prepayments and other current assets	34	29
Total current assets	619	756
Property, plant and equipment, net	5,562	5,245
Other Assets
Equity investments in affiliates	1,181	1,172
Intangible assets, net	1,103	1,156
Derivative instruments	0	8
Deferred income taxes	73	57
Right of use assets, net	191	0
Other non-current assets	109	106
Total other assets	2,657	2,499
Total Assets	8,838	8,500
Current Liabilities
Current portion of long-term debt	1,965	535
Accounts payable — trade	54	45
Accounts payable — affiliate	63	19
Derivative instruments	15	4
Accrued interest expense	49	44
Accrued expenses and other current liabilities	100	57
Total current liabilities	2,246	704
Other Liabilities
Long-term debt	4,143	5,447
Derivative instruments	95	17
Long-term lease liabilities	193	0
Other non-current liabilities	115	108
Total non-current liabilities	4,546	5,572
Total Liabilities	6,792	6,276
Commitments and Contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued	0	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); 193,413,843 shares issued and outstanding (Class A 34,599,645, Class B 42,738,750, Class C 73,336,698, Class D 42,738,750) at September 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	1,830	1,897
Accumulated deficit	(66)	(58)
Accumulated other comprehensive loss	(17)	(18)
Noncontrolling interest	298	402
Total Stockholders' Equity	2,046	2,224
Total Liabilities and Stockholders' Equity	$ 8,838	$ 8,500

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock shares issued (in shares)	193,402,886	193,251,396
Common stock, shares outstanding (in shares)	193,402,886	193,251,396
Common Class A [Member]
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock shares issued (in shares)	34,599,645	34,586,250
Common stock, shares outstanding (in shares)	34,599,645	34,586,250
Common Class B [Member]
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750
Common Class C [Member]
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock shares issued (in shares)	73,325,741	73,187,646
Common stock, shares outstanding (in shares)	73,325,741	73,187,646
Common Class D [Member]
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock shares issued (in shares)	42,738,750	42,738,750
Common stock, shares outstanding (in shares)	42,738,750	42,738,750

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities
Net Income (Loss)	$ (48)	$ 145
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of unconsolidated affiliates	(52)	(65)
Distributions from unconsolidated affiliates	32	58
Depreciation and amortization	285	247
Right of use asset amortization	5	0
Amortization of financing costs and debt discounts	14	19
Amortization of intangibles and out-of-market contracts	52	52
Adjustment for debt extinguishment	1	0
Impairment losses	19	0
Changes in deferred income taxes	(14)	17
Changes in derivative instruments	101	(39)
Loss (gain) on disposal of asset components	5	(2)
Changes in prepaid and accrued liabilities for tolling agreements	12	8
Changes in other working capital	(38)	(44)
Net Cash Provided by Operating Activities	374	396
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	(200)	(62)
Cash receipts from notes receivable	0	10
Return of investment from unconsolidated affiliates	37	22
Investments in unconsolidated affiliates	(14)	(16)
Other	2	8
Net Cash Used in Investing Activities	(300)	(175)
Cash Flows from Financing Activities
Net (distributions) contributions from noncontrolling interests	(15)	93
Net proceeds from the issuance of common stock under the ATM	0	151
Payments of dividends and distributions	(116)	(174)
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	586	227
Payments for long-term debt	(700)	(385)
Net Cash Used in Financing Activities	(260)	(148)
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash	(186)	73
Cash, Cash Equivalents and Restricted Cash at beginning of period	583	316
Cash, Cash Equivalents and Restricted Cash at end of period	$ 397	$ 389

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balances at Dec. 31, 2017	$ 0	$ 1	$ 1,843	$ (69)	$ (28)	$ 412	$ 2,159
Net loss	0	0	0	16	0	(20)	(4)
Unrealized loss on derivatives, net of tax	0	0	0	0	8	9	17
Buyout of Wind TE Holdco non-controlling interest	0	0	0	0	0	(42)	(42)
Capital contributions from tax equity investors, net of distributions, cash	0	0	0	0	0	30	30
Common stock dividends and distributions	0	0	(29)	0	0	(26)	(55)
Distributions from non-controlling interests, net of capital contributions, cash	0	0	0	0	0	4	4
Non-cash adjustment for change in tax basis of assets	0	0	3	0	0	0	3
Pre-acquisition net income of Buckthorn Solar Drop Down Asset	0	0	0	0	0	4	4
Proceeds from the issuance of Class C common stock	0	0	10	0	0	0	10
Balances at Mar. 31, 2018	0	1	1,827	(53)	(20)	371	2,126
Balances at Dec. 31, 2017	0	1	1,843	(69)	(28)	412	2,159
Net loss							145
Pre-acquisition net income of Buckthorn Solar Drop Down Asset							(4)
Balances at Sep. 30, 2018	0	1	1,935	13	(14)	440	2,375
Balances at Mar. 31, 2018	0	1	1,827	(53)	(20)	371	2,126
Net loss	0	0	0	79	0	17	96
Unrealized loss on derivatives, net of tax	0	0	0	0	3	4	7
Buyout of Wind TE Holdco non-controlling interest	0	0	0	0	0	(13)	(13)
Capital contributions from tax equity investors, net of distributions, cash	0	0	0	0	0	79	79
Common stock dividends and distributions	0	0	(32)	0	0	(26)	(58)
Distributions from non-controlling interests, net of capital contributions, cash	0	0	0	0	0	(15)	(15)
Stock-based compensation	0	0	1	0	0	0	1
Non-cash adjustment for change in tax basis of assets	0	0	(2)	0	0	2	0
Proceeds from the issuance of Class C common stock	0	0	65	0	0	0	65
Balances at Jun. 30, 2018	0	1	1,859	26	(17)	419	2,288
Net loss	0	0	0	21	0	28	49
Unrealized loss on derivatives, net of tax	0	0	0	0	3	3	6
Capital contributions from tax equity investors, net of distributions, cash	0	0	0	0	0	17	17
Common stock dividends and distributions	0	0	0	(34)	0	(27)	(61)
Stock-based compensation	0	0	1	0	0	0	1
Non-cash adjustment for change in tax basis of assets	0	0	(1)	0	0	0	(1)
Pre-acquisition net income of Buckthorn Solar Drop Down Asset							0
Proceeds from the issuance of Class C common stock	0	0	76	0	0	0	76
Balances at Sep. 30, 2018	0	1	1,935	13	(14)	440	2,375
Balances at Dec. 31, 2018	0	1	1,897	(58)	(18)	402	2,224
Net loss	0	0	0	(20)	0	(27)	(47)
Unrealized loss on derivatives, net of tax	0	0	0	0	(1)	(1)	(2)
Buyout of Wind TE Holdco non-controlling interest	0	0	(5)	0	0	(14)	(19)
Capital contributions from tax equity investors, net of distributions, cash	0	0	0	0	0	19	19
Contributions from CEG, non-cash	0	0	0	0	0	12	12
Cumulative effect from change in accounting principle	0	0	0	(2)	0	(1)	(3)
Common stock dividends and distributions	0	0	(22)	0	0	(17)	(39)
Balances at Mar. 31, 2019	0	1	1,870	(80)	(19)	373	2,145
Balances at Dec. 31, 2018	0	1	1,897	(58)	(18)	402	2,224
Net loss							(48)
Pre-acquisition net income of Buckthorn Solar Drop Down Asset							0
Balances at Sep. 30, 2019	0	1	1,830	(66)	(17)	298	2,046
Balances at Mar. 31, 2019	0	1	1,870	(80)	(19)	373	2,145
Net loss	0	0	0	(24)	0	(12)	(36)
Unrealized loss on derivatives, net of tax	0	0	0	0	3	2	5
Contributions from CEG, non-cash	0	0	0	0	0	6	6
Common stock dividends and distributions	0	0	(21)	0	0	(17)	(38)
Distributions from non-controlling interests, net of capital contributions, cash	0	0	0	0	0	(30)	(30)
Stock-based compensation	0	0	1	(1)	0	0	0
Non-cash adjustment for change in tax basis of assets	0	0	2	0	0	0	2
Balances at Jun. 30, 2019	0	1	1,852	(105)	(16)	322	2,054
Net loss	0	0	0	39	0	(4)	35
Unrealized loss on derivatives, net of tax	0	0	0	0	(1)	0	(1)
Contributions from CEG, non-cash	0	0	0	0	0	1	1
Common stock dividends and distributions	0		(22)	0	0	(17)	(39)
Distributions from non-controlling interests, net of capital contributions, cash	0	0	0	0	0	(4)	(4)
Stock-based compensation	0	0	1	0	0	0	1
Non-cash adjustment for change in tax basis of assets	0	0	(1)	0	0	0	(1)
Pre-acquisition net income of Buckthorn Solar Drop Down Asset							0
Balances at Sep. 30, 2019	$ 0	$ 1	$ 1,830	$ (66)	$ (17)	$ 298	$ 2,046

Note 1 - Nature of Business

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Business Description and Basis of Presentation [Text Block]

Note 1 — 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 5,330 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 55.81% of the economic interests of Clearway Energy LLC, with CEG retaining 44.19% of the economic interests of Clearway Energy LLC.

The following table represents the structure of the Company as of September 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 September 30, 2019, and the results of operations, comprehensive income (loss) and cash flows for the nine months ended September 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, or the Bankruptcy Court. 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 September 30, 2019, the Company had $147 million in restricted cash, $1.4 billion of property, plant and equipment, net, $370 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 September 30, 2019.

As of November 6, 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. On September 23, 2019, PG&E filed the Debtors' First Amended Joint Chapter 11 Plan of Reorganization, or the PG&E Plan, which would provide for PG&E to assume all of its PPAs with the Company. The PG&E Plan is not expected to be considered for confirmation by the Bankruptcy Court until the conclusion of a proceeding to estimate PG&E’s liability for prior wildfires, now pending before the United States District Court for the Northern District of California, and scheduled for trial commencing on February 18, 2020. Additionally, on October 9, 2019, the Bankruptcy Court entered an order terminating the period in which PG&E had the exclusive right to prosecute a plan of reorganization. On October 17, 2019, an ad hoc group of senior noteholders filed a competing plan of reorganization, which would also provide for PG&E to assume all of its PPAs with the Company. As of November 6, 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. The Company continues to assess the potential future impacts of the PG&E bankruptcy as events occur. 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. The Company incurred approximately $1.5 million of expense related to the NRG TSA during nine months ended September 30, 2019, which was recorded in transaction and integration costs in the consolidated statements of operations.

Note 2 - Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Significant Accounting Policies [Text Block]

Note 2 — 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 $116 million and $109 million as of September 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.

September 30,

December 31,

2019

2018

(In millions)

Cash and cash equivalents
$ 148 $ 407

Restricted cash
249 176

Cash, cash equivalents and restricted cash shown in the statement of cash flows
$ 397 $ 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 September 30, 2019, these restricted funds were comprised of $78 million designated to fund operating expenses, $70 million designated for current debt service payments, and $53 million restricted for reserves including debt service, performance obligations and other reserves, as well as capital expenditures. The remaining $48 million is held in distribution 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. The Company had a total of $147 million in restricted cash held by the subsidiaries affected by the PG&E Bankruptcy at September 30, 2019.

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 September 30, 2019 and December 31, 2018:

September 30, 2019

December 31, 2018

(In millions)

Property, Plant and Equipment Accumulated Depreciation
$ 1,830 $ 1,590

Intangible Assets Accumulated Amortization
361 308

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 nine months ended September 30, 2019:

Third Quarter 2019

Second Quarter 2019

First Quarter 2019

Dividends per Class A share
$ 0.20 $ 0.20 $ 0.20

Dividends per Class C share
$ 0.20 $ 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 October 29, 2019, the Company declared quarterly dividends on its Class A common stock and Class C common stock of $0.20 per share payable on December 16, 2019, to stockholders of record as of December 2, 2019.

Noncontrolling Interests

Clearway Energy LLC Distributions to CEG

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

Third Quarter 2019

Second Quarter 2019

First Quarter 2019

Distributions per Class B Unit
$ 0.20 $ 0.20 $ 0.20

Distributions per Class D Unit
$ 0.20 $ 0.20 $ 0.20

On October 29, 2019, Clearway Energy LLC declared a distribution on its Class B and Class D units of $0.20 per unit payable on December 16, 2019 to unit holders of record as of December 2, 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 nine months ended September 30, 2019:

Three months ended September 30, 2019

(In millions)

Conventional Generation

Renewables

Thermal

Total

Energy revenue^(a)
$ 2 $ 167 $ 3 $ 172

Capacity revenue^(a)
89 - 44 133

Contract amortization
(1 ) (16 ) (1 ) (18 )

Mark-to-market for economic hedging activities
- (2 ) - (2 )

Other revenue
- 2 9 11

Total operating revenue
90 151 55 296

Less: Mark-to-market for economic hedging activities
- 2 - 2

Less: Lease revenue
(91 ) (160 ) (1 ) (252 )

Less: Contract amortization
1 16 1 18

Total revenue from contracts with customers
$ - $ 9 $ 55 $ 64

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

(In millions) Conventional Generation Renewables Thermal Total

Energy revenue
$ 2 $ 160 $ 1 $ 163

Capacity revenue
89 - - 89

$ 91 $ 160 $ 1 $ 252

Nine months ended September 30, 2019

(In millions)

Conventional Generation

Renewables

Thermal

Total

Energy revenue^(a)
$ 4 $ 441 $ 6 $ 451

Capacity revenue^(a)
253 - 126 379

Contract amortization
(4 ) (46 ) (2 ) (52 )

Mark-to-market for economic hedging activities
- (9 ) - (9 )

Other revenue
- 6 22 28

Total operating revenue
253 392 152 797

Less: Mark-to-market for economic hedging activities
- 9 - 9

Less: Lease revenue
(257 ) (416 ) (2 ) (675 )

Less: Contract amortization
4 46 2 52

Total revenue from contracts with customers
$ - $ 31 $ 152 $ 183

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

(In millions) Conventional Generation Renewables Thermal Total

Energy revenue
$ 4 $ 416 $ 2 $ 422

Capacity revenue
253 - - 253

$ 257 $ 416 $ 2 $ 675

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 nine months ended September 30, 2018:

Three months ended September 30, 2018

(In millions)

Conventional Generation

Renewables

Thermal

Total

Energy revenue^(a)
$ 2 $ 164 $ - $ 166

Capacity revenue^(a)
86 - 46 132

Contract amortization
(1 ) (15 ) (1 ) (17 )

Other revenue
- 3 8 11

Total operating revenue
87 152 53 292

Less: Lease revenue
(88 ) (158 ) - (246 )

Less: Contract amortization
1 15 1 17

Total revenue from contracts with customers
$ - $ 9 $ 54 $ 63

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

(In millions) Conventional Generation Renewables Thermal Total

Energy revenue
$ 2 $ 158 $ - $ 160

Capacity revenue
86 - - 86

$ 88 $ 158 $ - $ 246

Nine months ended September 30, 2018

(In millions)

Conventional Generation

Renewables

Thermal

Total

Energy revenue^(a)
$ 5 $ 463 $ 2 $ 470

Capacity revenue^(a)
250 - 127 377

Contract amortization
(4 ) (46 ) (2 ) (52 )

Other revenue
- 10 19 29

Total operating revenue
251 427 146 824

Less: Lease revenue
(255 ) (438 ) (1 ) (694 )

Less: Contract amortization
4 46 2 52

Total revenue from contracts with customers
$ - $ 35 $ 147 $ 182

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

(In millions) Conventional Generation Renewables Thermal Total

Energy revenue
$ 5 $ 438 $ 1 $ 444

Capacity revenue
250 - - 250

$ 255 $ 438 $ 1 $ 694

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 September 30, 2019:

(In millions)

September 30, 2019

Accounts receivable, net - Contracts with customers
$ 31

Accounts receivable, net - Leases
110

Total accounts receivable, net ^(a)
$ 141

^(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 September 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.

Note 3 - Acquisitions and Dispositions

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

Note 3 — Acquisitions and Dispositions

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 82 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 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 owns 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 project sells power under a 25-year PPA to the City of Georgetown, Texas, which commenced in July 2018. 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.

Dispositions

Sale of Energy Center Dover LLC and Energy Center Smyrna LLC Assets — On September 5, 2019, the Company entered into a purchase and sale agreement with DB Energy Assets, LLC to sell 100% of its interests in Energy Center Dover LLC and Energy Center Smyrna LLC, Energy Center Dover LLC owns a 103 MW natural gas-fired cogeneration facility located in Dover, DE (Energy Center Dover). The transaction is subject to standard regulatory approvals and the completion of certain maintenance activities. The HSD assets and liabilities were classified as held for sale and recorded to other current assets and non-current assets, as well as current liabilities on the Company’s consolidated balance sheets as of September 30, 2019.

Sale of HSD Solar Holdings, LLC assets — On October 8, 2019, the Company, through HSD Solar Holdings, LLC, or HSD, sold 100% of its interests in certain distributed generation solar facilities totaling 6 MW to the offtaker under the PPA, for cash consideration of $20 million, as a result of the offtaker exercising its right to purchase the project pursuant to the PPA. In conjunction with the sale, the Company repaid in full the non-recourse lease financing associated with the HSD projects. The repaid amount was net of cash released at closing and totaled $23 million. The HSD assets and liabilities were classified as held for sale and recorded to other current assets and non-current assets, as well as current liabilities on the Company’s consolidated balance sheets as of September 30, 2019.

Note 4 - Investments Accounted for by the Equity Method and Variable Interest Entities

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Note 4 — 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. In connection with repowering of the projects, the Company revised the remaining useful life of the property, plant and equipment, net at the projects and accelerated depreciation through the expected COD dates, which are December 2019 and March 2020 for Wildorado Wind and Elbow Creek, respectively. The accelerated depreciation resulted in an additional expense of $26 million during the three and nine months ended September 30, 2019.

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 total commitment of $352 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, or HECO, 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 has $7 million payable due to Clearway Renew LLC in accounts payable — affiliate on the Company's consolidated balance sheets as of September 30, 2019, which represents the remaining 80% of the equity commitment and will be funded on the date the Kawailoa Solar project reaches certain milestones. 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 reached COD on September 19, 2019 and began to sell power to HECO pursuant to the long-term PPAs.

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 has 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 September 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 certain milestones. 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 and Dispositions, 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 September 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	$	38	$	36	$	56	$	3	$	11	$	17
Property, plant and equipment		190		147		387		87		217		320
Intangible assets		-		-		240		-		-		1
Total assets		228		183		683		90		228		338
Current and non-current liabilities		190		167		39		5		141		36
Total liabilities		190		167		39		5		141		36
Noncontrolling interest		2		16		53		35		62		(13	)
Net assets less noncontrolling interests	$	36	$	-	$	591	$	50	$	25	$	315

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 September 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	$	184
GenConn Energy LLC		94
DGPV Holdco 3 LLC		160
DGPV Holdco 1 LLC		84
Granite Mountain Holdings, LLC		66
DGPV Holdco 2 LLC		63
Iron Springs Holdings, LLC		47
RPV Holdco 1 LLC		17

DGPV Holdco 1 LLC — The Company invested $2 million of cash during the nine months ended September 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 16 years as of September 30, 2019.

DGPV Holdco 3 LLC — The Company invested $12 million of cash during the nine months ended September 30, 2019 into DGPV Holdco 3 LLC and recorded $23 million due to CEG in accounts payable — affiliate as of September 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 20 years as of September 30, 2019.

The following tables present summarized financial information for DGPV Holdco 1 LLC, DGPV Holdco 2 LLC and DGPV Holdco 3 LLC on a combined basis. These entities were deemed to be the Company's significant equity method investments as of September 30, 2019:

(In millions)	*Three months ended September 30,*					*Nine months ended September 30,*
Income Statement Data:	*2019*			*2018*		*2019*			*2018*
Operating revenues	$	26		$	22	$	63		$	55
Operating loss		14			10		26			20
Net (loss) income	$	(1	)	$	10	$	(16	)	$	21

(In millions)	*September 30, 2019*			*December 31, 2018*
Balance sheet Data:
Current assets	$	148		$	41
Property, plant and equipment, net		840			828
Non-current assets		51			7
Current liabilities		94			137
Non-current liabilities		415			314
Redeemable noncontrolling interest		(1	)		-
Noncontrolling interest		43			9

Note 5 - Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Fair Value Disclosures [Text Block]

Note 5 — 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 September 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)	$	6,179	$	6,173	$	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 September 30, 2019 and December 31, 2018:

	*As of September 30, 2019*				*As of December 31, 2018*
	*Level 2*		*Level 3*		*Level 2*		*Level 3*
	(In millions)
Long-term debt, including current portion	$	1,551	$	4,622	$	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 September 30, 2019*						*As of December 31, 2018*
	Fair Value ^(a)						Fair Value ^(a)
(In millions)	*Level 2*		*Level 3*		*Total*		*Level 2*
Derivative assets:
Commodity contracts	$	1	$	-	$	1	$	-
Interest rate contracts		-		-		-		11
Total assets		1		-		1		11
Derivative liabilities:
Commodity contracts		-		9		9		-
Interest rate contracts		101		-		101		21
Total liabilities	$	101	$	9	$	110	$	21

^(a) There were no derivative assets or liabilities classified as Level 1 as of September 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 September 30,					Nine months ended September 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	)	$	-	$	-		$	-
Total losses for the period included in earnings		(2	)		-		(2	)		-
Purchases	‑			‑			(7	)	‑
Ending balance	$	(9	)	$	-	$	(9	)	$	-

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 September 30, 2019, contracts valued with prices provided by models and other valuation techniques make up 8% 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 September 30, 2019:

September 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 September 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 September 30, 2019, the non-performance reserve was $8 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 $31 million in accounts receivable due from PG&E for its consolidated projects, of which $5 million was recorded to non-current assets as of September 30, 2019. As of November 6, 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 November 6, 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 1 — Nature of Business and 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

Note 6 - Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Derivative Instruments and Hedging Activities Disclosure [Text Block]

Note 6 — 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 September 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 September 30, 2019, the Company had energy-related derivative instruments extending through 2029. At September 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*
(In millions)		*September 30, 2019*			*December 31, 2018*
Commodity	*Units*
Power	MWh		(2	)		—
Natural Gas	MMBtu		3			1
Interest	Dollars	$	1,756		$	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*
	*September 30, 2019*		*December 31, 2018*		*September 30, 2019*		*December 31, 2018*
	(In millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts current	$	-	$	2	$	3	$	1
Interest rate contracts long-term		-		3		14		6
Total Derivatives Designated as Cash Flow Hedges		-		5		17		7
Derivatives Not Designated as Cash Flow Hedges:
Interest rate contracts current		-		1		12		3
Interest rate contracts long-term		-		5		72		11
Commodity contracts current		1		-		-		-
Commodity contracts long-term		-		-		9		-
Total Derivatives Not Designated as Cash Flow Hedges		1		6		93		14
Total Derivatives	$	1	$	11	$	110	$	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 September 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 September 30, 2019 and December 31, 2018:

As of September 30, 2019	*Gross Amounts of Recognized Assets/Liabilities*			*Derivative Instruments*			*Net Amount*
Commodity contracts:	(In millions)
Derivative assets	$	1		$	(1	)	$	-
Derivative liabilities		(9	)		1			(8	)
Total commodity contracts	$	(8	)	$	-		$	(8	)
Interest rate contracts:
Derivative assets		-			-			-
Derivative liabilities		(101	)		-			(101	)
Total interest rate contracts	$	(101	)	$	-		$	(101	)
Total derivative instruments	$	(109	)	$	-		$	(109	)

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 September 30,*						*Nine months ended September 30,*
	*2019*			*2018*			*2019*			*2018*
	(In millions)
Accumulated OCL beginning balance	$	(35	)	$	(36	)	$	(38	)	$	(60	)
Reclassified from accumulated OCL to income due to realization of previously deferred amounts		(2	)		5			15			11
Mark-to-market of cash flow hedge accounting contracts		1			1			(13	)		19
Accumulated OCL ending balance, net of income tax benefit of $6 and $6, respectively		(36	)		(30	)		(36	)		(30	)
Accumulated OCL attributable to noncontrolling interests	$	(19	)	$	(16	)	$	(19	)	$	(16	)
Accumulated OCL attributable to Clearway Energy, Inc.	$	(17	)	$	(14	)	$	(17	)	$	(14	)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3	$	(7	)				$	(7	)

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 September 30,*					*Nine months ended September 30,*
	*2019*			*2018*		*2019*			*2018*
	(In millions)
Interest Rate Contracts (Interest Expense)	$	(28	)	$	9	$	(82	)	$	40

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.

In connection with the repowering activities at Elbow Creek, the Company entered into a new long-term power hedge in January of 2019, and the impact to the consolidated statements of operations was a $9 million loss for the period ended September 30, 2019. The loss was 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.

Note 7 - Long-term Debt

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Long-term Debt [Text Block]

Note 7 — 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:

	*September 30, 2019*			*December 31, 2018*			September 30, 2019, interest rate % ^(a)		*Letters of Credit Outstanding at September 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		52
Project-level debt:
Agua Caliente Borrower 2, due 2038 ^(c)(d)		38			39			5.430		17
Alpine, due 2022 ^(c)		121			127			L+2.00		16
Alta Wind I - V lease financing arrangements, due 2034 and 2035		859			886			5.696 - 7.015		29
Buckthorn Solar, due 2025		130			132			L+1.750		26
CVSR, due 2037 ^(c)		696			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		303			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		134			-			L+1.375		5
Marsh Landing, due 2023^(c)		223			263			L+2.125		27
Oahu Solar Holdings LLC, due 2026		157			-			L+1.375		11
Repowering Partnership Holdco LLC, due 2020		298			-			L+0.85		29
South Trent Wind, due 2028		44			50			L+1.350		12
Tapestry, due 2031		159			151			L+1.375		19
Utah Solar Portfolio, due 2022		260			267			L+2.625		13
Viento, due 2023		42			146			L+2.00		14
Walnut Creek, due 2023		189			222			L+1.75		82
Other		315			343			various		24
Subtotal project-level debt:		4,684			4,329
Total debt		6,179			6,044
Less current maturities		(1,965	)		(535	)
Less net debt issuance costs		(71	)		(61	)
Less discounts^(e)		-			(1	)
Total long-term debt	$	4,143		$	5,447

^(a)

As of September 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 x%

^(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)	The Company repaid the debt on October 21, 2019, as further described below
^(e)	Discounts relate to the 2020 Convertible Notes

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 September 30, 2019, the Company was not in compliance with certain 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 nine months ended September 30, 2019.

Clearway Energy LLC and Clearway Energy Operating LLC Revolving Credit Facility

As of September 30, 2019, there were no outstanding borrowings under the revolving credit facility and the Company had $52 million of letters of credit outstanding. The Company had $40 million outstanding under the revolving credit facility and a total of $71 million in letters of credit outstanding as of November 6, 2019.

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, or the Bankruptcy Court. 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 September 30, 2019. In addition, distributions from these projects to Clearway Operating LLC are prohibited under the related debt agreements. As of November 6, 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.

Agua Caliente Borrower 2 debt Repayment

On October 21, 2019, the Company, through Agua Caliente Borrower 2 LLC, repaid $40 million of the outstanding notes balance, including accrued interest and premiums, issued under the Agua Caliente Holdco Financing Agreement. The repayment was funded with Company's existing liquidity.

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 for a total commitment amount of $352 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 Company borrowings 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 with a total commitment amount of $162 million, both at an interest rate of LIBOR plus 1.375%. The construction loan will convert to a term loan upon completion of certain milestones 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, with a total commitment amount of $137 million both at an interest rate of LIBOR plus 1.375%. The construction loan will convert to a term loan upon completion of certain milestones 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%.

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%.

Note 8 - Earnings Per Share

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 8 — 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 September 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.	$	12	$	27	$	7	$	14
Weighted average number of common shares outstanding — basic		35		73		35		69
Earnings per weighted average common share — basic	$	0.36	$	0.36	$	0.20	$	0.20
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$	12	$	27	$	7	$	14
Weighted average number of common shares outstanding — diluted		35		75		35		69
Earnings per weighted average common share — diluted	$	0.36	$	0.36	$	0.20	$	0.20

	*Nine months ended September 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.	$	(2	)	$	(3	)	$	40	$	76
Weighted average number of common shares outstanding — basic and diluted		35			73			35		67
(Losses) Earnings per weighted average common share — basic	$	(0.04	)	$	(0.04	)	$	1.14	$	1.14
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net (loss) income attributable to Clearway Energy, Inc.	$	(2	)	$	(3	)	$	40	$	85
Weighted average number of common shares outstanding — diluted		35			73			35		77
(Losses) Earnings per weighted average common share — diluted	$	(0.04	)	$	(0.04	)	$	1.14	$	1.10

^(a)Basic and diluted 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 September 30,

Nine months ended September 30,

2019

2018

2019

2018

(In millions of shares)

2020 Convertible Notes - Common Class C

Note 9 - Segment Reporting

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 9 — 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 September 30, 2019*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Corporate*			*Total*
Operating Revenues	$	90		$	151		$	55		$	-		$	296
Cost of operations		14			36			36			-			86
Depreciation and amortization		25			80			7			-			112
General and administrative		-			1			1			5			7
Development costs		-			-			1			-			1
Operating Income (Loss)		51			34			10			(5	)		90
Equity in earnings of unconsolidated affiliates		3			35			-			-			38
Other income, net		-			2			-			-			2
Interest expense		(13	)		(65	)		(5	)		(23	)		(106	)
Income (Loss) Before Income Taxes		41			6			5			(28	)		24
Income tax benefit		-			-			-			(11	)		(11	)
Net Income (Loss)	$	41		$	6		$	5		$	(17	)	$	35
Total Assets	$	1,766		$	6,330		$	632		$	110		$	8,838

	*Three months ended September 30, 2018*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Corporate*			*Total*
Operating Revenues	$	87		$	152		$	53		$	-		$	292
Cost of operations		12			39			33			-			84
Depreciation and amortization		26			52			6			-			84
General and administrative		-			-			-			6			6
Acquisition-related transaction and integration costs		-			-			-			17			17
Development costs		-			-			-			1			1
Operating Income (Loss)		49			61			14			(24	)		100
Equity in earnings of unconsolidated affiliates		3			29			-			-			32
Other income, net		-			1			-			1			2
Interest expense		(13	)		(36	)		(4	)		(21	)		(74	)
Income (Loss) Before Income taxes		39			55			10			(44	)		60
Income tax expense		-			-			-			11			11
Net Income (Loss)	$	39		$	55		$	10		$	(55	)	$	49

	*Nine months ended September 30, 2019*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Corporate*			*Total*
Operating Revenues	$	253		$	392		$	152		$	-		$	797
Cost of operations		44			106			99			-			249
Depreciation and amortization		75			190			20			-			285
Impairment losses		-			-			19			-			19
General and administrative		-			1			2			17			20
Acquisition-related transaction and integration costs		-			-			-			2			2
Development costs		-			-			4			-			4
Operating Income (Loss)		134			95			8			(19	)		218
Equity in earnings of unconsolidated affiliates		7			45			-			-			52
Other income, net		1			4			-			1			6
Loss on debt extinguishment		-			(1	)		-			-			(1	)
Interest expense		(45	)		(213	)		(13	)		(66	)		(337	)
Income (Loss) Before Income Taxes		97			(70	)		(5	)		(84	)		(62	)
Income tax benefit		-			-			-			(14	)		(14	)
Net Income (Loss)	$	97		$	(70	)	$	(5	)	$	(70	)	$	(48	)

	*Nine months ended September 30, 2018*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Corporate*			*Total*
Operating Revenues	$	251		$	427		$	146		$	-		$	824
Cost of operations		44			106			97			-			247
Depreciation and amortization		76			154			17			-			247
General and administrative		-			-			-			17			17
Acquisition-related transaction and integration costs		-			-			-			19			19
Development costs		-			-			-			1			1
Operating Income (Loss)		131			167			32			(37	)		293
Equity in earnings of unconsolidated affiliates		8			57			-			-			65
Other income, net		1			2			-			1			4
Interest expense		(33	)		(95	)		(8	)		(64	)		(200	)
Income (Loss) Before Income Taxes		107			131			24			(100	)		162
Income tax expense		-			-			-			17			17
Net Income (Loss)	$	107		$	131		$	24		$	(117	)	$	145

Note 10 - Income Taxes

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note 10 — Income Taxes

Effective Tax Rate

The income tax provision consisted of the following:

	*Three months ended September 30,*						*Nine months ended September 30,*
(In millions, except percentages)	*2019*			*2018*			*2019*			*2018*
Income (Loss) Before Income Taxes	$	24		$	60		$	(62	)	$	162
Income tax (benefit) expense		(11	)		11			(14	)		17
Effective income tax rate		(46	)%		18.3	%		22.6	%		10.5	%

For the three and nine months ended September 30, 2019 and 2018, the overall effective tax rate was different than the statutory rate of 21% primarily due to 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.

Note 11 - Related Party Transactions

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Note 11 — 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 September 30, 2019, and NRG and its subsidiaries were considered related parties during the period ended September 30, 2018.

Related Party Transactions with CEG entities

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 $8 million and $22 million for each of the three and nine months ended September 30, 2019, respectively. The Company incurred total expenses for these services of $7 million and $22 million for each of the three and nine months ended September 30, 2018, respectively. There was a balance of $8 million and $6 million due to RENOM as of September 30, 2019 and December 31, 2018, respectively.

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 prior to the GIP Transaction

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 two and eight months ended August 31, 2018, Elbow Creek and Dover, collectively, generated revenue of $2 million and $8 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 two and eight months ended August 31, 2018, the Thermal entities purchased $1 million and $7 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 $7 million and $27 million and for the two and eight months ended August 31, 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 two and eight months ended August 31, 2018, the aggregate fees incurred under the agreements were $1 million and $4 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 $7 million and $11 million for the two and eight months ended August 31, 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 $2 million and $11 million for the two and eight months ended August 31, 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 two and eight months ended August 31, 2018 were $2 million and $7 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.

Note 12 - Contingencies

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

Note 12 — 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. Additionally, Elkhorn Ridge was added as a third-party defendant to the litigation in the U.S. District Court. On September 23, 2019, NPPD filed amended complaints in the U.S. District Court, to which Laredo Ridge and Elkhorn Ridge responded on October 7, 2019. The Company believes the allegations of NPPD are meritless and the Company is vigorously defending its rights under the PPAs.

Buckthorn Solar Litigation

On October 8, 2019, the City of Georgetown, Texas, or Georgetown, filed a petition in the District Court of Williamson County, Texas naming Buckthorn Westex, LLC, the Company’s subsidiary that owns the Buckthorn Westex solar project, as the defendant, alleging fraud by nondisclosure and breach of contract in connection with the project and the PPA, and seeking (i) rescission and/or cancellation of the PPA, (ii) declaratory judgment that the alleged breaches constitute an event of default under the PPA entitling Georgetown to terminate, and (iii) recovery of all damages, costs of court, and attorneys’ fees. Buckthorn Westex believes the allegations of Georgetown are meritless, and Buckthorn Westex is vigorously defending its rights under the PPA.

Note 13 - Leases

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note 13 — 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 September 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 nine months ended September 30, 2019 was comprised of the following:


(In millions)	Three months ended September 30, 2019		Nine months ended September 30, 2019
Operating lease cost	$	2	$	6
Variable lease cost		3		10
Total lease cost	$	5	$	16

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

(In millions, except term and rate)
ROU Assets - operating leases, net	$	191

Short-term lease liability - operating leases ^(a)		6
Long-term lease liability - operating leases		193
Total lease liability	$	199

Cash paid for operating leases	$	7
Weighted average remaining lease term		24
Weighted average discount rate		4.4	%

^(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 September 30, 2019.

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

(In millions)
Remainder of 2019	$	4
2020		14
2021		14
2022		14
2023		13
Thereafter		267
Total lease payments		326
Less imputed interest		(127	)
Total lease liability - operating leases	$	199

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

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 of $21 million and corresponding right-of-use asset of $19 million related to the leases as of September 30, 2019.

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 September 30, 2019

(In millions) Conventional Generation Renewables
Thermal

Total

Energy revenue
$ 2 $ 160 $ 1 $ 163

Capacity revenue
89 - - 89

Operating revenue
$ 91 $ 160 $ 1 $ 252

Nine months ended September 30, 2019

(In millions)
Conventional Generation

Renewables

Thermal

Total

Energy revenue
$ 4 $ 416 $ 2 $ 422

Capacity revenue
253 - - 253

Operating revenue
$ 257 $ 416 $ 2 $ 675

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

(In millions)

Remainder of 2019
$ 91

2020
337

2021
341

2022
346

2023
154

Total lease payments
$ 1,269

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

(In millions)

Property, plant and equipment
$ 6,230

Accumulated depreciation
(1,600 )

Net property, plant and equipment
$ 4,629

Note 14 - Asset Impairments

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Asset Impairment Charges [Text Block]

Note 14 — Asset Impairments

The Company recorded an impairment loss of $19 million related to a facility in the Thermal segment during the second quarter of 2019. 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.

Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Use of Estimates, Policy [Policy Text Block]

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, Policy [Policy Text Block]

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 $116 million and $109 million as of September 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.

	*September 30,*		*December 31,*
	*2019*		*2018*
	(In millions)
Cash and cash equivalents	$	148	$	407
Restricted cash		249		176
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$	397	$	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 September 30, 2019, these restricted funds were comprised of $78 million designated to fund operating expenses, $70 million designated for current debt service payments, and $53 million restricted for reserves including debt service, performance obligations and other reserves, as well as capital expenditures. The remaining $48 million is held in distribution 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. The Company had a total of $147 million in restricted cash held by the subsidiaries affected by the PG&E Bankruptcy at September 30, 2019.

Depreciation, Depletion, and Amortization [Policy Text Block]

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 September 30, 2019 and December 31, 2018:

	*September 30, 2019*		*December 31, 2018*
	(In millions)
Property, Plant and Equipment Accumulated Depreciation	$	1,830	$	1,590
Intangible Assets Accumulated Amortization		361		308

Dividends [Policy Text Block]

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 nine months ended September 30, 2019:

	*Third Quarter 2019*		*Second Quarter 2019*		*First Quarter 2019*
Dividends per Class A share	$	0.20	$	0.20	$	0.20
Dividends per Class C share	$	0.20	$	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 October 29, 2019, the Company declared quarterly dividends on its Class A common stock and Class C common stock of $0.20 per share payable on December 16, 2019, to stockholders of record as of December 2, 2019.

Consolidation, Policy [Policy Text Block]

Noncontrolling Interests

Clearway Energy LLC Distributions to CEG

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

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

On October 29, 2019, Clearway Energy LLC declared a distribution on its Class B and Class D units of $0.20 per unit payable on December 16, 2019 to unit holders of record as of December 2, 2019.

Revenue [Policy Text Block]

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 nine months ended September 30, 2019:

	*Three months ended September 30, 2019*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Total*
Energy revenue^(a)	$	2		$	167		$	3		$	172
Capacity revenue^(a)		89			-			44			133
Contract amortization		(1	)		(16	)		(1	)		(18	)
Mark-to-market for economic hedging activities		-			(2	)		-			(2	)
Other revenue		-			2			9			11
Total operating revenue		90			151			55			296
Less: Mark-to-market for economic hedging activities		-			2			-			2
Less: Lease revenue		(91	)		(160	)		(1	)		(252	)
Less: Contract amortization		1			16			1			18
Total revenue from contracts with customers	$	-		$	9		$	55		$	64

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

(In millions)		*Conventional Generation*		*Renewables*		*Thermal*		*Total*
Energy revenue	$	2	$	160	$	1	$	163
Capacity revenue		89		-		-		89
	$	91	$	160	$	1	$	252

	*Nine months ended September 30, 2019*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Total*
Energy revenue^(a)	$	4		$	441		$	6		$	451
Capacity revenue^(a)		253			-			126			379
Contract amortization		(4	)		(46	)		(2	)		(52	)
Mark-to-market for economic hedging activities		-			(9	)		-			(9	)
Other revenue		-			6			22			28
Total operating revenue		253			392			152			797
Less: Mark-to-market for economic hedging activities		-			9			-			9
Less: Lease revenue		(257	)		(416	)		(2	)		(675	)
Less: Contract amortization		4			46			2			52
Total revenue from contracts with customers	$	-		$	31		$	152		$	183

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

(In millions)		*Conventional Generation*		*Renewables*		*Thermal*		*Total*
Energy revenue	$	4	$	416	$	2	$	422
Capacity revenue		253		-		-		253
	$	257	$	416	$	2	$	675

	*Three months ended September 30, 2018*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Total*
Energy revenue^(a)	$	2		$	164		$	-		$	166
Capacity revenue^(a)		86			-			46			132
Contract amortization		(1	)		(15	)		(1	)		(17	)
Other revenue		-			3			8			11
Total operating revenue		87			152			53			292
Less: Lease revenue		(88	)		(158	)		-			(246	)
Less: Contract amortization		1			15			1			17
Total revenue from contracts with customers	$	-		$	9		$	54		$	63

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

(In millions)		*Conventional Generation*		*Renewables*		*Thermal*		*Total*
Energy revenue	$	2	$	158	$	-	$	160
Capacity revenue		86		-		-		86
	$	88	$	158	$	-	$	246

	*Nine months ended September 30, 2018*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Total*
Energy revenue^(a)	$	5		$	463		$	2		$	470
Capacity revenue^(a)		250			-			127			377
Contract amortization		(4	)		(46	)		(2	)		(52	)
Other revenue		-			10			19			29
Total operating revenue		251			427			146			824
Less: Lease revenue		(255	)		(438	)		(1	)		(694	)
Less: Contract amortization		4			46			2			52
Total revenue from contracts with customers	$	-		$	35		$	147		$	182

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

(In millions)		*Conventional Generation*		*Renewables*		*Thermal*		*Total*
Energy revenue	$	5	$	438	$	1	$	444
Capacity revenue		250		-		-		250
	$	255	$	438	$	1	$	694

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 September 30, 2019:

(In millions)	*September 30, 2019*
Accounts receivable, net - Contracts with customers	$	31
Accounts receivable, net - Leases		110
Total accounts receivable, net ^(a)	$	141

^(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 September 30, 2019.

Income Tax, Policy [Policy Text Block]

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.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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+ Details

Note 2 - Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Schedule of Cash and Cash Equivalents [Table Text Block]

	*September 30,*		*December 31,*
	*2019*		*2018*
	(In millions)
Cash and cash equivalents	$	148	$	407
Restricted cash		249		176
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$	397	$	583

Property, Plant and Equipment [Table Text Block]

	*September 30, 2019*		*December 31, 2018*
	(In millions)
Property, Plant and Equipment Accumulated Depreciation	$	1,830	$	1,590
Intangible Assets Accumulated Amortization		361		308

Dividends Declared [Table Text Block]

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

Distributions Made to Limited Liability Company (LLC) Member, by Distribution [Table Text Block]

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

Disaggregation of Revenue [Table Text Block]

	*Three months ended September 30, 2019*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Total*
Energy revenue^(a)	$	2		$	167		$	3		$	172
Capacity revenue^(a)		89			-			44			133
Contract amortization		(1	)		(16	)		(1	)		(18	)
Mark-to-market for economic hedging activities		-			(2	)		-			(2	)
Other revenue		-			2			9			11
Total operating revenue		90			151			55			296
Less: Mark-to-market for economic hedging activities		-			2			-			2
Less: Lease revenue		(91	)		(160	)		(1	)		(252	)
Less: Contract amortization		1			16			1			18
Total revenue from contracts with customers	$	-		$	9		$	55		$	64

(In millions)		*Conventional Generation*		*Renewables*		*Thermal*		*Total*
Energy revenue	$	2	$	160	$	1	$	163
Capacity revenue		89		-		-		89
	$	91	$	160	$	1	$	252

	*Nine months ended September 30, 2019*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Total*
Energy revenue^(a)	$	4		$	441		$	6		$	451
Capacity revenue^(a)		253			-			126			379
Contract amortization		(4	)		(46	)		(2	)		(52	)
Mark-to-market for economic hedging activities		-			(9	)		-			(9	)
Other revenue		-			6			22			28
Total operating revenue		253			392			152			797
Less: Mark-to-market for economic hedging activities		-			9			-			9
Less: Lease revenue		(257	)		(416	)		(2	)		(675	)
Less: Contract amortization		4			46			2			52
Total revenue from contracts with customers	$	-		$	31		$	152		$	183

(In millions)		*Conventional Generation*		*Renewables*		*Thermal*		*Total*
Energy revenue	$	4	$	416	$	2	$	422
Capacity revenue		253		-		-		253
	$	257	$	416	$	2	$	675

	*Three months ended September 30, 2018*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Total*
Energy revenue^(a)	$	2		$	164		$	-		$	166
Capacity revenue^(a)		86			-			46			132
Contract amortization		(1	)		(15	)		(1	)		(17	)
Other revenue		-			3			8			11
Total operating revenue		87			152			53			292
Less: Lease revenue		(88	)		(158	)		-			(246	)
Less: Contract amortization		1			15			1			17
Total revenue from contracts with customers	$	-		$	9		$	54		$	63

(In millions)		*Conventional Generation*		*Renewables*		*Thermal*		*Total*
Energy revenue	$	2	$	158	$	-	$	160
Capacity revenue		86		-		-		86
	$	88	$	158	$	-	$	246

	*Nine months ended September 30, 2018*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Total*
Energy revenue^(a)	$	5		$	463		$	2		$	470
Capacity revenue^(a)		250			-			127			377
Contract amortization		(4	)		(46	)		(2	)		(52	)
Other revenue		-			10			19			29
Total operating revenue		251			427			146			824
Less: Lease revenue		(255	)		(438	)		(1	)		(694	)
Less: Contract amortization		4			46			2			52
Total revenue from contracts with customers	$	-		$	35		$	147		$	182

(In millions)		*Conventional Generation*		*Renewables*		*Thermal*		*Total*
Energy revenue	$	5	$	438	$	1	$	444
Capacity revenue		250		-		-		250
	$	255	$	438	$	1	$	694

Contract with Customer, Asset and Liability [Table Text Block]

(In millions)	*September 30, 2019*
Accounts receivable, net - Contracts with customers	$	31
Accounts receivable, net - Leases		110
Total accounts receivable, net ^(a)	$	141

Note 4 - Investments Accounted for by the Equity Method and Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Equity Method Investment, Summarized Financial Information [Table Text Block]

(In millions)	*Three months ended September 30,*					*Nine months ended September 30,*
Income Statement Data:	*2019*			*2018*		*2019*			*2018*
Operating revenues	$	26		$	22	$	63		$	55
Operating loss		14			10		26			20
Net (loss) income	$	(1	)	$	10	$	(16	)	$	21

(In millions)	*September 30, 2019*			*December 31, 2018*
Balance sheet Data:
Current assets	$	148		$	41
Property, plant and equipment, net		840			828
Non-current assets		51			7
Current liabilities		94			137
Non-current liabilities		415			314
Redeemable noncontrolling interest		(1	)		-
Noncontrolling interest		43			9

Unconsolidated Entities [Member]

Notes Tables

Schedule of Variable Interest Entities [Table Text Block]

(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	$	38	$	36	$	56	$	3	$	11	$	17
Property, plant and equipment		190		147		387		87		217		320
Intangible assets		-		-		240		-		-		1
Total assets		228		183		683		90		228		338
Current and non-current liabilities		190		167		39		5		141		36
Total liabilities		190		167		39		5		141		36
Noncontrolling interest		2		16		53		35		62		(13	)
Net assets less noncontrolling interests	$	36	$	-	$	591	$	50	$	25	$	315

Unconsolidated Entities [Member]

Notes Tables

Schedule of Variable Interest Entities [Table Text Block]

(In millions)	Maximum exposure to loss
Four Brothers Solar, LLC	$	184
GenConn Energy LLC		94
DGPV Holdco 3 LLC		160
DGPV Holdco 1 LLC		84
Granite Mountain Holdings, LLC		66
DGPV Holdco 2 LLC		63
Iron Springs Holdings, LLC		47
RPV Holdco 1 LLC		17

- 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

Note 5 - Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Fair Value, by Balance Sheet Grouping [Table Text Block]

	As of September 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)	$	6,179	$	6,173	$	6,043	$	5,943

Fair Value Option, Disclosures [Table Text Block]

	*As of September 30, 2019*				*As of December 31, 2018*
	*Level 2*		*Level 3*		*Level 2*		*Level 3*
	(In millions)
Long-term debt, including current portion	$	1,551	$	4,622	$	1,620	$	4,323

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	*As of September 30, 2019*						*As of December 31, 2018*
	Fair Value ^(a)						Fair Value ^(a)
(In millions)	*Level 2*		*Level 3*		*Total*		*Level 2*
Derivative assets:
Commodity contracts	$	1	$	-	$	1	$	-
Interest rate contracts		-		-		-		11
Total assets		1		-		1		11
Derivative liabilities:
Commodity contracts		-		9		9		-
Interest rate contracts		101		-		101		21
Total liabilities	$	101	$	9	$	110	$	21

	Three months ended September 30,					Nine months ended September 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	)	$	-	$	-		$	-
Total losses for the period included in earnings		(2	)		-		(2	)		-
Purchases	‑			‑			(7	)	‑
Ending balance	$	(9	)	$	-	$	(9	)	$	-

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

September 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)

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)

Note 6 - Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

		*Total Volume*
(In millions)		*September 30, 2019*			*December 31, 2018*
Commodity	*Units*
Power	MWh		(2	)		—
Natural Gas	MMBtu		3			1
Interest	Dollars	$	1,756		$	1,862

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]

	*Fair Value*
	Derivative Assets ^(a)				*Derivative Liabilities*
	*September 30, 2019*		*December 31, 2018*		*September 30, 2019*		*December 31, 2018*
	(In millions)
Derivatives Designated as Cash Flow Hedges:
Interest rate contracts current	$	-	$	2	$	3	$	1
Interest rate contracts long-term		-		3		14		6
Total Derivatives Designated as Cash Flow Hedges		-		5		17		7
Derivatives Not Designated as Cash Flow Hedges:
Interest rate contracts current		-		1		12		3
Interest rate contracts long-term		-		5		72		11
Commodity contracts current		1		-		-		-
Commodity contracts long-term		-		-		9		-
Total Derivatives Not Designated as Cash Flow Hedges		1		6		93		14
Total Derivatives	$	1	$	11	$	110	$	21

Offsetting Liabilities [Table Text Block]

As of September 30, 2019	*Gross Amounts of Recognized Assets/Liabilities*			*Derivative Instruments*			*Net Amount*
Commodity contracts:	(In millions)
Derivative assets	$	1		$	(1	)	$	-
Derivative liabilities		(9	)		1			(8	)
Total commodity contracts	$	(8	)	$	-		$	(8	)
Interest rate contracts:
Derivative assets		-			-			-
Derivative liabilities		(101	)		-			(101	)
Total interest rate contracts	$	(101	)	$	-		$	(101	)
Total derivative instruments	$	(109	)	$	-		$	(109	)

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	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	*Three months ended September 30,*						*Nine months ended September 30,*
	*2019*			*2018*			*2019*			*2018*
	(In millions)
Accumulated OCL beginning balance	$	(35	)	$	(36	)	$	(38	)	$	(60	)
Reclassified from accumulated OCL to income due to realization of previously deferred amounts		(2	)		5			15			11
Mark-to-market of cash flow hedge accounting contracts		1			1			(13	)		19
Accumulated OCL ending balance, net of income tax benefit of $6 and $6, respectively		(36	)		(30	)		(36	)		(30	)
Accumulated OCL attributable to noncontrolling interests	$	(19	)	$	(16	)	$	(19	)	$	(16	)
Accumulated OCL attributable to Clearway Energy, Inc.	$	(17	)	$	(14	)	$	(17	)	$	(14	)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3	$	(7	)				$	(7	)

Derivative Instruments, Gain (Loss) [Table Text Block]

	*Three months ended September 30,*					*Nine months ended September 30,*
	*2019*			*2018*		*2019*			*2018*
	(In millions)
Interest Rate Contracts (Interest Expense)	$	(28	)	$	9	$	(82	)	$	40

Note 7 - Long-term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Schedule of Debt [Table Text Block]

	*September 30, 2019*			*December 31, 2018*			September 30, 2019, interest rate % ^(a)		*Letters of Credit Outstanding at September 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		52
Project-level debt:
Agua Caliente Borrower 2, due 2038 ^(c)(d)		38			39			5.430		17
Alpine, due 2022 ^(c)		121			127			L+2.00		16
Alta Wind I - V lease financing arrangements, due 2034 and 2035		859			886			5.696 - 7.015		29
Buckthorn Solar, due 2025		130			132			L+1.750		26
CVSR, due 2037 ^(c)		696			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		303			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		134			-			L+1.375		5
Marsh Landing, due 2023^(c)		223			263			L+2.125		27
Oahu Solar Holdings LLC, due 2026		157			-			L+1.375		11
Repowering Partnership Holdco LLC, due 2020		298			-			L+0.85		29
South Trent Wind, due 2028		44			50			L+1.350		12
Tapestry, due 2031		159			151			L+1.375		19
Utah Solar Portfolio, due 2022		260			267			L+2.625		13
Viento, due 2023		42			146			L+2.00		14
Walnut Creek, due 2023		189			222			L+1.75		82
Other		315			343			various		24
Subtotal project-level debt:		4,684			4,329
Total debt		6,179			6,044
Less current maturities		(1,965	)		(535	)
Less net debt issuance costs		(71	)		(61	)
Less discounts^(e)		-			(1	)
Total long-term debt	$	4,143		$	5,447

Note 8 - Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*Three months ended September 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.	$	12	$	27	$	7	$	14
Weighted average number of common shares outstanding — basic		35		73		35		69
Earnings per weighted average common share — basic	$	0.36	$	0.36	$	0.20	$	0.20
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net income attributable to Clearway Energy, Inc.	$	12	$	27	$	7	$	14
Weighted average number of common shares outstanding — diluted		35		75		35		69
Earnings per weighted average common share — diluted	$	0.36	$	0.36	$	0.20	$	0.20

	*Nine months ended September 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.	$	(2	)	$	(3	)	$	40	$	76
Weighted average number of common shares outstanding — basic and diluted		35			73			35		67
(Losses) Earnings per weighted average common share — basic	$	(0.04	)	$	(0.04	)	$	1.14	$	1.14
Diluted earnings per share attributable to Clearway Energy, Inc. common stockholders
Net (loss) income attributable to Clearway Energy, Inc.	$	(2	)	$	(3	)	$	40	$	85
Weighted average number of common shares outstanding — diluted		35			73			35		77
(Losses) Earnings per weighted average common share — diluted	$	(0.04	)	$	(0.04	)	$	1.14	$	1.10

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

Three months ended September 30,

Nine months ended September 30,

2019

2018

2019

2018

(In millions of shares)

2020 Convertible Notes - Common Class C

Note 9 - Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	*Three months ended September 30, 2019*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Corporate*			*Total*
Operating Revenues	$	90		$	151		$	55		$	-		$	296
Cost of operations		14			36			36			-			86
Depreciation and amortization		25			80			7			-			112
General and administrative		-			1			1			5			7
Development costs		-			-			1			-			1
Operating Income (Loss)		51			34			10			(5	)		90
Equity in earnings of unconsolidated affiliates		3			35			-			-			38
Other income, net		-			2			-			-			2
Interest expense		(13	)		(65	)		(5	)		(23	)		(106	)
Income (Loss) Before Income Taxes		41			6			5			(28	)		24
Income tax benefit		-			-			-			(11	)		(11	)
Net Income (Loss)	$	41		$	6		$	5		$	(17	)	$	35
Total Assets	$	1,766		$	6,330		$	632		$	110		$	8,838

	*Three months ended September 30, 2018*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Corporate*			*Total*
Operating Revenues	$	87		$	152		$	53		$	-		$	292
Cost of operations		12			39			33			-			84
Depreciation and amortization		26			52			6			-			84
General and administrative		-			-			-			6			6
Acquisition-related transaction and integration costs		-			-			-			17			17
Development costs		-			-			-			1			1
Operating Income (Loss)		49			61			14			(24	)		100
Equity in earnings of unconsolidated affiliates		3			29			-			-			32
Other income, net		-			1			-			1			2
Interest expense		(13	)		(36	)		(4	)		(21	)		(74	)
Income (Loss) Before Income taxes		39			55			10			(44	)		60
Income tax expense		-			-			-			11			11
Net Income (Loss)	$	39		$	55		$	10		$	(55	)	$	49

	*Nine months ended September 30, 2019*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Corporate*			*Total*
Operating Revenues	$	253		$	392		$	152		$	-		$	797
Cost of operations		44			106			99			-			249
Depreciation and amortization		75			190			20			-			285
Impairment losses		-			-			19			-			19
General and administrative		-			1			2			17			20
Acquisition-related transaction and integration costs		-			-			-			2			2
Development costs		-			-			4			-			4
Operating Income (Loss)		134			95			8			(19	)		218
Equity in earnings of unconsolidated affiliates		7			45			-			-			52
Other income, net		1			4			-			1			6
Loss on debt extinguishment		-			(1	)		-			-			(1	)
Interest expense		(45	)		(213	)		(13	)		(66	)		(337	)
Income (Loss) Before Income Taxes		97			(70	)		(5	)		(84	)		(62	)
Income tax benefit		-			-			-			(14	)		(14	)
Net Income (Loss)	$	97		$	(70	)	$	(5	)	$	(70	)	$	(48	)

	*Nine months ended September 30, 2018*
(In millions)	*Conventional Generation*			*Renewables*			*Thermal*			*Corporate*			*Total*
Operating Revenues	$	251		$	427		$	146		$	-		$	824
Cost of operations		44			106			97			-			247
Depreciation and amortization		76			154			17			-			247
General and administrative		-			-			-			17			17
Acquisition-related transaction and integration costs		-			-			-			19			19
Development costs		-			-			-			1			1
Operating Income (Loss)		131			167			32			(37	)		293
Equity in earnings of unconsolidated affiliates		8			57			-			-			65
Other income, net		1			2			-			1			4
Interest expense		(33	)		(95	)		(8	)		(64	)		(200	)
Income (Loss) Before Income Taxes		107			131			24			(100	)		162
Income tax expense		-			-			-			17			17
Net Income (Loss)	$	107		$	131		$	24		$	(117	)	$	145

Note 10 - Income Taxes (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	*Three months ended September 30,*						*Nine months ended September 30,*
(In millions, except percentages)	*2019*			*2018*			*2019*			*2018*
Income (Loss) Before Income Taxes	$	24		$	60		$	(62	)	$	162
Income tax (benefit) expense		(11	)		11			(14	)		17
Effective income tax rate		(46	)%		18.3	%		22.6	%		10.5	%

Note 13 - Leases (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Lease, Cost [Table Text Block]


(In millions)	Three months ended September 30, 2019		Nine months ended September 30, 2019
Operating lease cost	$	2	$	6
Variable lease cost		3		10
Total lease cost	$	5	$	16

(In millions, except term and rate)
ROU Assets - operating leases, net	$	191

Short-term lease liability - operating leases ^(a)		6
Long-term lease liability - operating leases		193
Total lease liability	$	199

Cash paid for operating leases	$	7
Weighted average remaining lease term		24
Weighted average discount rate		4.4	%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

(In millions)
Remainder of 2019	$	4
2020		14
2021		14
2022		14
2023		13
Thereafter		267
Total lease payments		326
Less imputed interest		(127	)
Total lease liability - operating leases	$	199

Lessee, Operating Lease, Disclosure [Table Text Block]

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

Operating Lease, Lease Income [Table Text Block]

Three months ended September 30, 2019
(In millions)	Conventional Generation		Renewables		Thermal		Total
Energy revenue	$	2	$	160	$	1	$	163
Capacity revenue		89		-		-		89
Operating revenue	$	91	$	160	$	1	$	252

Nine months ended September 30, 2019
(In millions)	*Conventional Generation*		*Renewables*		*Thermal*		*Total*
Energy revenue	$	4	$	416	$	2	$	422
Capacity revenue		253		-		-		253
Operating revenue	$	257	$	416	$	2	$	675

Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]

(In millions)
Remainder of 2019	$	91
2020		337
2021		341
2022		346
2023		154
Total lease payments	$	1,269

Property, Plant and Equipment Related to Operating Leases [Table Text Block]

(In millions)
Property, plant and equipment	$	6,230
Accumulated depreciation		(1,600	)
Net property, plant and equipment	$	4,629

Note 1 - Nature of Business (Details Textual) $ in Millions	9 Months Ended
Note 1 - Nature of Business (Details Textual) $ in Millions	Sep. 30, 2019 USD ($)	Jan. 29, 2019	Dec. 31, 2018 USD ($)
Power Generation Capacity, MegaWatts	5,330
Restricted Cash, Total	$ 249.0		$ 176.0
Property, Plant and Equipment, Net, Ending Balance	5,562.0		5,245.0
Equity Method Investments	1,181.0		$ 1,172.0
Short-term Debt, Total	1,300.0
Pacific Gas and Electric Company [Member]
Steam and Chilled Water Capacity, Megawatts Thermal Equivalent		480
Restricted Cash, Total	147.0
Property, Plant and Equipment, Net, Ending Balance	1,400.0
Equity Method Investments	370.0
Due to Affiliate, Noncurrent	1,300.0
Marsh Landing [Member]
Steam and Chilled Water Capacity, Megawatts Thermal Equivalent		720
NRG Energy, Inc. [Member] \| Transaction and Integration Costs [Member]
Services Agreement, Expense	$ 1.5
Clearway Energy, LLC [Member] \| Clearway Energy, Inc [Member]
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest	55.81%
Clearway Energy, LLC [Member] \| Clearway Energy Group LLC [Member]
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest	44.19%

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Oct. 29, 2019	Sep. 30, 2019	Dec. 31, 2018
Cash and Cash Equivalents, at Carrying Value, Ending Balance		$ 148	$ 407
Accounts Receivable Reclassified to Noncurrent Assets		5
Common Class A and C [Member] \| Subsequent Event [Member]
Dividends Payable, Date Declared	Oct. 29, 2019
Dividends Payable, Amount Per Share	$ 0.20
Dividends Payable, Date to be Paid	Dec. 16, 2019
Dividends Payable, Date of Record	Dec. 02, 2019
Operating Funds [Member]
Restricted Cash and Cash Equivalents, Total		78
Current Debt Service Payments [Member]
Restricted Cash and Cash Equivalents, Total		70
Reserves [Member]
Restricted Cash and Cash Equivalents, Total		53
Cash Distributions Reserve [Member]
Restricted Cash and Cash Equivalents, Total		48
Cash Affected by Bankruptcy [Member]
Restricted Cash and Cash Equivalents, Total		36
Project Level Subsidiaries [Member]
Restricted Cash and Cash Equivalents, Total		147
Project Level Subsidiaries [Member]
Cash and Cash Equivalents, at Carrying Value, Ending Balance		$ 116	$ 109
Clearway Energy, LLC [Member] \| Common Class B and D [Member]
Distribution Made to Limited Liability Company (LLC) Member, Distributions Paid, Per Unit	$ 0.20

Note 2 - Summary of Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Cash and cash equivalents	$ 148	$ 407
Restricted cash	249	176
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 397	$ 583	$ 389	$ 316

Note 2 - Summary of Significant Accounting Policies - Accumulated Depreciation and Amortization (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment Accumulated Depreciation	$ 1,830	$ 1,590
Intangible Assets Accumulated Amortization	$ 361	$ 308

Note 2 - Summary of Significant Accounting Policies - Dividends Paid (Details) - $ / shares	3 Months Ended				9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Common Class A [Member]
Dividends per share (in dollars per share)	$ 0.20	$ 0.20	$ 0.20	$ 0.32	$ 0.60	$ 0.927
Common Class C [Member]
Dividends per share (in dollars per share)	$ 0.20	$ 0.20	$ 0.20	$ 0.32	$ 0.60	$ 0.927

Note 2 - Summary of Significant Accounting Policies - Distributions Paid (Details) - Clearway Energy, LLC [Member] - $ / shares	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Common Class B [Member]
Distribution Made to Limited Liability Company (LLC) Member, Distributions Paid, Per Unit	$ 0.20	$ 0.20	$ 0.20
Common Class D [Member]
Distribution Made to Limited Liability Company (LLC) Member, Distributions Paid, Per Unit	$ 0.20	$ 0.20	$ 0.20

Note 2 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Total operating revenue

$ 296

$ 292

$ 797

$ 824

Contract amortization

(18)

(17)

(52)

Mark-to-market for economic hedging activities

(2)

(9)

Less: Mark-to-market for economic hedging activities

Less: Lease revenue

(252)

(246)

(675)

(694)

Less: Contract amortization

Total revenue from contracts with customers

183

182

Lease Revenue

252

246

675

694

Conventional Generation [Member]

Total operating revenue

253

251

Contract amortization

(1)

(4)

Mark-to-market for economic hedging activities

Less: Mark-to-market for economic hedging activities

Less: Lease revenue

(91)

(88)

(257)

(255)

Less: Contract amortization

Total revenue from contracts with customers

Lease Revenue

257

255

Renewables [Member]

Total operating revenue

151

152

392

427

Contract amortization

(16)

(15)

(46)

Mark-to-market for economic hedging activities

(2)

(9)

Less: Mark-to-market for economic hedging activities

Less: Lease revenue

(160)

(158)

(416)

(438)

Less: Contract amortization

Total revenue from contracts with customers

Lease Revenue

160

158

416

438

Thermal [Member]

Total operating revenue

152

146

Contract amortization

(1)

(2)

Mark-to-market for economic hedging activities

Less: Mark-to-market for economic hedging activities

Less: Lease revenue

(1)

(2)

(1)

Less: Contract amortization

Total revenue from contracts with customers

152

147

Lease Revenue

(0)

Energy Revenue [Member]

Total operating revenue

172

^[1]

166

^[2]

451

^[3]

470

^[4]

Less: Lease revenue

(163)

(160)

(422)

(444)

Lease Revenue

163

160

422

444

Energy Revenue [Member] | Conventional Generation [Member]

Total operating revenue

^[1]

^[2]

^[3]

^[4]

Less: Lease revenue

(2)

(4)

(5)

Lease Revenue

Energy Revenue [Member] | Renewables [Member]

Total operating revenue

167

^[1]

164

^[2]

441

^[3]

463

^[4]

Less: Lease revenue

(160)

(158)

(416)

(438)

Lease Revenue

160

158

416

438

Energy Revenue [Member] | Thermal [Member]

Total operating revenue

^[1]

^[2]

^[3]

^[4]

Less: Lease revenue

(1)

(2)

(1)

Lease Revenue

Capacity Revenue [Member]

Total operating revenue

133

^[1]

132

^[2]

379

^[3]

377

^[4]

Less: Lease revenue

(89)

(86)

(253)

(250)

Lease Revenue

253

250

Capacity Revenue [Member] | Conventional Generation [Member]

Total operating revenue

^[1]

^[2]

253

^[3]

250

^[4]

Less: Lease revenue

(89)

(86)

(253)

(250)

Lease Revenue

253

250

Capacity Revenue [Member] | Renewables [Member]

Total operating revenue

^[1]

^[2]

^[3]

^[4]

Less: Lease revenue

Lease Revenue

Capacity Revenue [Member] | Thermal [Member]

Total operating revenue

^[1]

^[2]

126

^[3]

127

^[4]

Less: Lease revenue

Lease Revenue

Product and Service, Other [Member]

Total operating revenue

Product and Service, Other [Member] | Conventional Generation [Member]

Total operating revenue

Product and Service, Other [Member] | Renewables [Member]

Total operating revenue

Product and Service, Other [Member] | Thermal [Member]

Total operating revenue

$ 9

$ 8

$ 22

$ 19

[1]	The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842: (In millions) Conventional Generation Renewables Thermal Total Energy revenue $ 2 $ 160 $ 1 $ 163 Capacity revenue 90 - - 90 $ 92 $ 160 $ 1 $ 253
[2]	The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 840: (In millions) Conventional Generation Renewables Thermal Total Energy revenue $ 2 $ 158 $ - $ 160 Capacity revenue 86 - - 86 $ 88 $ 158 $ - $ 246
[3]	The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 842: (In millions) Conventional Generation Renewables Thermal Total Energy revenue $ 4 $ 416 $ 2 $ 422 Capacity revenue 254 - - 254 $ 258 $ 416 $ 2 $ 676
[4]	The following amounts of energy and capacity revenue relate to leases and are accounted for under ASC 840: (In millions) Conventional Generation Renewables Thermal Total Energy revenue $ 5 $ 438 $ 1 $ 444 Capacity revenue 250 - - 250 $ 255 $ 438 $ 1 $ 694

Note 2 - Summary of Significant Accounting Policies - Contract Assets and Liabilities (Details)
$ in Millions

Sep. 30, 2019

USD ($)

Accounts receivable, net - Contracts with customers

$ 31

Accounts receivable, net - Leases

110

Total accounts receivable, net (a)

$ 141

^[1]

[1]	Total accounts receivable, net, excludes $5 million generated at projects affected by PG&E Bankruptcy, which were reclassified to non-current assets as of September 30, 2019.

Note 3 - Acquisitions and Dispositions (Details Textual) $ in Millions							1 Months Ended		9 Months Ended
	Oct. 08, 2019 USD ($)	Sep. 05, 2019	May 01, 2019 USD ($)	Jun. 19, 2018 USD ($)	Apr. 18, 2018 USD ($)	Mar. 30, 2018 USD ($)	Jan. 31, 2019 USD ($)	May 31, 2018 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Long-term Debt, Total									$ 6,179		$ 6,044
Power Generation Capacity, MegaWatts									5,330
Repayments of Long-term Debt, Total									$ 700	$ 385
DB Energy Assets LLC [Member]
Power Generation Capacity, MegaWatts		103
Sale of Business, Percent of Voting Interest Sold		100.00%
HSD Solar Holdings, LLC [Member] \| Subsequent Event [Member]
Power Generation Capacity, MegaWatts	6
Sale of Business, Percent of Voting Interest Sold	100.00%
Proceeds from Divestiture of Businesses	$ 20
Repayments of Long-term Debt, Total	$ 23
NRG Energy, Inc. [Member]
Accounts Payable, Related Parties											$ 4
Repayments of Related Party Debt							$ 3
Duquesne University District Energy System [Member]
Power Purchase Agreement Period			40 years
Business Combination, Consideration Transferred, Total			$ 107
Payments to Acquire Businesses, Gross			100
Long-term Debt, Total			$ 95
UPMC Thermal Project [Member]
Business Combination, Consideration Transferred, Total				$ 84
Steam and Chilled Water Capacity, Megawatts Thermal Equivalent				73
Power Generation Capacity, MegaWatts				7.5
Central CA Fuel Cell 1, LLC [Member]
Power Purchase Agreement Period					20 years
Business Combination, Consideration Transferred, Total					$ 11
Steam and Chilled Water Capacity, Megawatts Thermal Equivalent					2.8
Buckthorn Renewables, LLC [Member]
Power Purchase Agreement Period						25 years
Business Combination, Consideration Transferred, Total						$ 42
Power Generation Capacity, MegaWatts						154
Business Acquisition, Percentage of Voting Interests Acquired						100.00%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt						$ 183
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value						19
Proceeds from Noncontrolling Interests								$ 80
Buckthorn Renewables, LLC [Member] \| Term Loan [Member]
Long-term Debt, Total						$ 132

Note 4 - Investments Accounted for by the Equity Method and Variable Interest Entities (Details Textual) $ in Millions				1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2019 USD ($)	Jan. 02, 2019 USD ($)	Mar. 30, 2018	Aug. 31, 2018 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Jun. 14, 2019 USD ($)	May 07, 2019 USD ($)	Mar. 08, 2019 USD ($)	Dec. 31, 2018 USD ($)	Aug. 30, 2018
Power Generation Capacity, MegaWatts					5,330	5,330
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance					$ 298	$ 298					$ 402
Percentage of Cash Available for Distributions					95.00%	95.00%
Payments to Acquire Equity Method Investments						$ 14	$ 16
Affiliated Entity [Member]
Accounts Payable, Related Parties										$ 16
Percentage of Cash Available for Distributions					5.00%	5.00%
Kawailoa Partnership [Member]
Payments to Acquire Businesses, Gross				$ 9
Power Generation Capacity, MegaWatts				49
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value									$ 2
Business Combination, Capital Contribution, Percent									20.00%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt									$ 120
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance									21
Accounts Payable, Related Parties									$ 7
Business Combination, Capital Contribution Payable, Percent									80.00%
Zephyr Oahu Partnership LLC [Member]
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value										$ 4
Business Combination, Capital Contribution, Percent										20.00%
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt										$ 143
Business Combination, Capital Contribution Payable, Percent										80.00%
Zephyr Oahu Partnership LLC [Member] \| Tax Equity Investors [Member]
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance										$ 18
November 2015 Drop Down Assets [Member] \| Financial Institutions [Member]
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Business Combination, Consideration Transferred, Total		$ 19
Buckthorn Solar Drop Down Asset [Member]
Power Generation Capacity, MegaWatts			154
Business Acquisition, Percentage of Voting Interests Acquired			100.00%
Variable Interest Entity, Primary Beneficiary [Member] \| Repowering Partnership Holdco LLC, due 2020 [Member]
Debt Instrument, Face Amount								$ 352
Commitment to Invest								$ 111
Kawailoa Solar Project [Member] \| Kawailoa Solar Partnership LLC [Member]
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest						51.00%
Kawailoa Solar Project [Member] \| Third Party Investor [Member]
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest						49.00%
Buckthorn Renewables, LLC [Member] \| Buckthorn Solar Portfolio, LLC [Member]
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest			100.00%
Buckthorn Solar Portfolio, LLC [Member] \| Buckthorn Holdings, LLC [Member]
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest			100.00%
Repowering Partnership LLC [Member] \| Clearway Renew LLC [Member]
Equity Method Investment, Ownership Percentage												21.00%
Depreciation, Total					$ 26	$ 26
Oahu Solar Partnership [Member] \| Zephyr Oahu Partnership LLC [Member]
Payments to Acquire Businesses, Gross	$ 20
Oahu Solar, Lanikuhana [Member]
Power Generation Capacity, MegaWatts	15
Oahu Solar, Waipio [Member]
Power Generation Capacity, MegaWatts	46
DGPV Holdco 1 [Member]
Power Generation Capacity, MegaWatts					52	52
Payments to Acquire Equity Method Investments						$ 2
Remaining Lease Term						16 years
DGPV Holdco 3 [Member]
Power Generation Capacity, MegaWatts					59	59
Payments to Acquire Equity Method Investments						$ 12
Remaining Lease Term						20 years
Due to Affiliate					$ 23	$ 23

Note 4 - Investments Accounted for By the Equity Method and Variable Interest Entities - Consolidated Entities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment, Net, Ending Balance	$ 5,562	$ 5,245
Intangible assets	1,103	1,156
Total assets	8,838	8,500
Current and non-current liabilities	6,792	$ 6,276
Oahu Solar Partnership [Member]
Other current and non-current assets	38
Property, Plant and Equipment, Net, Ending Balance	190
Intangible assets	0
Total assets	228
Current and non-current liabilities	190
Noncontrolling interest	2
Net assets less noncontrolling interests	36
Kawailoa Solar Partnership LLC [Member]
Other current and non-current assets	36
Property, Plant and Equipment, Net, Ending Balance	147
Intangible assets	0
Total assets	183
Current and non-current liabilities	167
Noncontrolling interest	16
Net assets less noncontrolling interests	0
Alta X and XI TE Holdco [Member]
Other current and non-current assets	56
Property, Plant and Equipment, Net, Ending Balance	387
Intangible assets	240
Total assets	683
Current and non-current liabilities	39
Noncontrolling interest	53
Net assets less noncontrolling interests	591
Spring Canyon [Member]
Other current and non-current assets	3
Property, Plant and Equipment, Net, Ending Balance	87
Intangible assets	0
Total assets	90
Current and non-current liabilities	5
Noncontrolling interest	35
Net assets less noncontrolling interests	50
Buckthorn Renewables, LLC [Member]
Other current and non-current assets	11
Property, Plant and Equipment, Net, Ending Balance	217
Intangible assets	0
Total assets	228
Current and non-current liabilities	141
Noncontrolling interest	62
Net assets less noncontrolling interests	25
Repowering Partnership LLC [Member]
Other current and non-current assets	17
Property, Plant and Equipment, Net, Ending Balance	320
Intangible assets	1
Total assets	338
Current and non-current liabilities	36
Noncontrolling interest	(13)
Net assets less noncontrolling interests	$ 315

Note 4 - Investments Accounted for by the Equity Method and Variable Interest Entities - Unconsolidated Entities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Maximum exposure to loss	$ 1,181	$ 1,172
Four Brothers Solar, LLC [Member]
Maximum exposure to loss	184
GenConn [Member]
Maximum exposure to loss	94
DGPV Holdco 3 [Member]
Maximum exposure to loss	160
DGPV Holdco 1 [Member]
Maximum exposure to loss	84
Granite Mountain Holdings, LLC [Member]
Maximum exposure to loss	66
DGPV Holdco 2 LLC [Member]
Maximum exposure to loss	63
Iron Springs Holdings, LLC [Member]
Maximum exposure to loss	47
RPV Holdco 1 LLC [Member]
Maximum exposure to loss	$ 17

Note 4 - Investments Accounted for by the Equity Method and Variable Interest Entities - Summarized Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Operating revenues	$ 26	$ 22	$ 63	$ 55
Operating loss	14	10	26	20
Net (loss) income	(1)	$ 10	(16)	$ 21
Current assets	148		148		$ 41
Property, plant and equipment, net	840		840		828
Non-current assets	51		51		7
Current liabilities	94		94		137
Non-current liabilities	415		415		314
Redeemable noncontrolling interest	(1)		(1)		0
Noncontrolling interest	$ 43		$ 43		$ 9

Note 5 - Fair Value of Financial Instruments (Details Textual) $ in Thousands	Sep. 30, 2019 USD ($)	Jan. 29, 2019	Dec. 31, 2018 USD ($)
Fair Value Assets Measured on Recurring Basis,Valuation Techniques Impact of Credit Reserve to Fair Value	$ 8,000
Pacific Gas and Electric Company [Member]
Steam and Chilled Water Capacity, Megawatts Thermal Equivalent		480
Accounts Receivable, Related Parties	31,000
Accounts Receivable, Related Parties, Noncurrent	5,000
Marsh Landing [Member]
Steam and Chilled Water Capacity, Megawatts Thermal Equivalent		720
Fair Value, Inputs, Level 1 [Member]
Derivative Assets (Liabilities), at Fair Value, Net, Total	$ 0		$ 0
Fair Value, Inputs, Level 3 [Member]
Derivative Assets (Liabilities), at Fair Value, Net, Total			$ 0

Note 5 - Fair Value of Financial Instruments - Estimated Carrying Amounts and Fair Values (Details) - USD ($)
$ in Millions

Sep. 30, 2019

Dec. 31, 2018

Reported Value Measurement [Member]

Long-term debt, including current portion (a)

^[1]

$ 6,179

$ 6,043

Estimate of Fair Value Measurement [Member]

Long-term debt, including current portion (a)

^[1]

$ 6,173

$ 5,943

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

Note 5 - Fair Value of Financial Instruments - Fair Value Hierarchy for Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Inputs, Level 2 [Member]
Long-term debt, including current portion	$ 1,551	$ 1,620
Fair Value, Inputs, Level 3 [Member]
Long-term debt, including current portion	$ 4,622	$ 4,323

Note 5 - Fair Value of Financial Instruments - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Dec. 31, 2018

Derivative assets

^[1]

$ 1

$ 11

Derivative liabilities

110

Commodity Contract [Member]

Derivative assets

Derivative liabilities

Interest Rate Contract [Member]

Derivative assets

Derivative liabilities

101

Fair Value, Recurring [Member]

Derivative assets

^[2]

Derivative liabilities

^[2]

110

Fair Value, Recurring [Member] | Commodity Contract [Member]

Derivative assets

^[2]

Derivative liabilities

^[2]

Fair Value, Recurring [Member] | Interest Rate Contract [Member]

Derivative assets

^[2]

Derivative liabilities

^[2]

101

Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]

Derivative assets

^[2]

Derivative liabilities

^[2]

Balance

(7)

$ 0

Total losses for the period included in earnings

(2)

Purchases

(7)

Balance

(9)

$ 0

(9)

$ 0

Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity Contract [Member]

Derivative assets

^[2]

Derivative liabilities

^[2]

Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Contract [Member]

Derivative assets

^[2]

Derivative liabilities

^[2]

Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]

Derivative assets

^[2]

Derivative liabilities

^[2]

101

Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commodity Contract [Member]

Derivative assets

^[2]

Derivative liabilities

^[2]

Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Contract [Member]

Derivative assets

^[2]

Derivative liabilities

^[2]

$ 101

$ 21

[1]	Derivative Assets balances classified as current are included within the prepayments and other current assets line item of the consolidated balance sheets as of September 30, 2019.
[2]	There were no derivative assets or liabilities classified as Level 1 as of September 30, 2019, and no derivative assets or liabilities classified as Level 1 or Level 3 as of December 31, 2018.

Note 5 - Fair Value of Financial Instruments - Significant Unobservable Inputs (Details) - Energy Related Derivative [Member] - Fair Value, Inputs, Level 3 [Member] - Fair Value, Recurring [Member] - Valuation Technique, Discounted Cash Flow [Member] $ in Millions	Sep. 30, 2019 USD ($)
Derivative Assets	$ 0
Derivative Liabilities	$ 9
Minimum [Member]
Input/Range	0.07
Maximum [Member]
Input/Range	0.33
Weighted Average [Member]
Input/Range	0.12

Note 6 - Derivative Instruments and Hedging Activities (Details Textual) $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($)
Energy Related Derivative [Member]
Derivative, Loss on Derivative	$ 9

Note 6 - Derivative Instruments and Hedging Activities - Net Notional Volume Buy of Open Derivative Transactions, by Type (Details) MWh in Millions, MMBTU in Millions, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019 USD ($) MWh MMBTU	Dec. 31, 2018 USD ($) MWh MMBTU
Power [Member]
Nonmonetary Notional Amount (Megawatt-Hour) \| MWh	(2)	0
Natural Gas [Member]
Nonmonetary Notional Amount (Millions of British Thermal Unit) \| MMBTU	3	1
Interest [Member]
Interest \| $	$ 1,756	$ 1,862

Note 6 - Derivative Instruments and Hedging Activities - Fair Value of Derivative Instruments (Details) - USD ($)
$ in Millions

Sep. 30, 2019

Dec. 31, 2018

Gross Amounts of Recognized Assets

^[1]

$ 1

$ 11

Derivative Liabilities, Fair Value

110

Designated as Hedging Instrument [Member]

Gross Amounts of Recognized Assets

^[1]

Derivative Liabilities, Fair Value

Designated as Hedging Instrument [Member] | Interest Rate Contract, Current [Member]

Gross Amounts of Recognized Assets

^[1]

Derivative Liabilities, Fair Value

Designated as Hedging Instrument [Member] | Interest Rate Contract, Noncurrent [Member]

Gross Amounts of Recognized Assets

^[1]

Derivative Liabilities, Fair Value

Not Designated as Hedging Instrument [Member]

Gross Amounts of Recognized Assets

^[1]

Derivative Liabilities, Fair Value

Not Designated as Hedging Instrument [Member] | Interest Rate Contract, Current [Member]

Gross Amounts of Recognized Assets

^[1]

Derivative Liabilities, Fair Value

Not Designated as Hedging Instrument [Member] | Interest Rate Contract, Noncurrent [Member]

Gross Amounts of Recognized Assets

^[1]

Derivative Liabilities, Fair Value

Not Designated as Hedging Instrument [Member] | Commodity Contract, Current [Member]

Gross Amounts of Recognized Assets

^[1]

Derivative Liabilities, Fair Value

Not Designated as Hedging Instrument [Member] | Commodity Contract, Noncurrent [Member]

Gross Amounts of Recognized Assets

^[1]

Derivative Liabilities, Fair Value

$ 9

$ 0

[1]	Derivative Assets balances classified as current are included within the prepayments and other current assets line item of the consolidated balance sheets as of September 30, 2019.

Note 6 - Derivative Instruments and Hedging Activities - Offsetting of Derivatives by the Counterparty Master Agreement Level (Details) - USD ($)
$ in Millions

Sep. 30, 2019

Dec. 31, 2018

Gross Amounts of Recognized Assets

^[1]

$ 1

$ 11

Gross Amounts of Recognized Liabilities

(110)

(21)

Gross Amounts of Recognized Assets/Liabilities

(109)

(10)

Derivative Instruments

Derivative Instruments, net

(109)

(10)

Commodity Contract [Member]

Gross Amounts of Recognized Assets

Derivative assets

(1)

Derivative assets, net

Gross Amounts of Recognized Liabilities

(9)

Derivative liabilities

(1)

Derivative liabilities, net

(8)

Gross Amounts of Recognized Assets/Liabilities

(8)

Derivative Instruments

Derivative Instruments, net

(8)

Interest Rate Contract [Member]

Gross Amounts of Recognized Assets

Derivative assets

(1)

Derivative assets, net

Gross Amounts of Recognized Liabilities

(101)

(21)

Derivative liabilities

(1)

Derivative liabilities, net

(101)

(20)

Gross Amounts of Recognized Assets/Liabilities

(101)

(10)

Derivative Instruments

Derivative Instruments, net

$ (101)

$ (10)

[1]	Derivative Assets balances classified as current are included within the prepayments and other current assets line item of the consolidated balance sheets as of September 30, 2019.

Note 6 - Derivative Instruments and Hedging Activities - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Balances	$ 2,054	$ 2,288	$ 2,224	$ 2,159
Balances	2,046	2,375	2,046	2,375
Accumulated OCL	(17)	(14)	(17)	(14)	$ (18)
Losses expected to be realized from OCL during the next 12 months, net of income tax benefit of $3	(7)		(7)
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Balances	(35)	(36)	(38)	(60)
Balances	(36)	(30)	(36)	(30)
Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest [Member]
Reclassified from accumulated OCL to income due to realization of previously deferred amounts	(2)	5	15	11
Mark-to-market of cash flow hedge accounting contracts	1	1	(13)	19
Noncontrolling Interest [Member]
Balances	322	419	402	412
Balances	298	440	298	440
Accumulated OCL	$ (19)	$ (16)	$ (19)	$ (16)

Note 6 - Derivative Instruments and Hedging Activities - Accumulated Other Comprehensive Loss (Details) (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Losses expected to be realized from OCL during the next 12 months, income tax benefit	$ 3	$ 3
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated OCL, income tax benefit	$ 6	$ 6

Note 6 - Derivative Instruments and Hedging Activities - Derivative Instruments Gains and Losses (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Unrealized loss on derivatives, net of tax	$ (1)	$ 5	$ (2)	$ 6	$ 7	$ 17
Interest Rate Contract [Member] \| Interest Expense [Member]
Unrealized loss on derivatives, net of tax	$ (28)			$ 9			$ (82)	$ 40

Note 7 - Long-term Debt (Details Textual) - USD ($)
$ in Thousands

1 Months Ended

9 Months Ended

Oct. 21, 2019

Jun. 14, 2019

May 07, 2019

Apr. 29, 2019

Mar. 08, 2019

Feb. 01, 2019

Jan. 31, 2019

Sep. 30, 2019

Nov. 06, 2019

May 01, 2019

Dec. 31, 2018

Due from Affiliate, Current

$ 3,000

$ 0

Pacific Gas and Electric Company [Member]

Due from Affiliate, Current

$ 1,300

Revolving Credit Facility [Member]

Debt Instrument, Basis Spread on Variable Rate

^[1],[2]

1.75%

Long-term Line of Credit, Total

$ 0

Letters of Credit Outstanding, Amount

$ 52,000

Revolving Credit Facility [Member] | Subsequent Event [Member]

Long-term Line of Credit, Total

$ 40,000

Letters of Credit Outstanding, Amount

$ 71,000

The 2019 Convertible Notes [Member]

Repayments of Debt

$ 170,000

$ 50,000

Debt Instrument, Interest Rate, Stated Percentage

^[2]

3.50%

Agua Caliente Borrower 2, Due 2038 [Member]

Debt Instrument, Interest Rate, Stated Percentage

^[2],[3],[4]

5.43%

Agua Caliente Borrower 2, Due 2038 [Member] | Subsequent Event [Member]

Repayments of Related Party Debt

$ 40,000

Repowering Partnership Holdco LLC, due 2020 [Member]

Debt Instrument, Basis Spread on Variable Rate

^[2]

0.85%

Repowering Partnership Holdco LLC, due 2020 [Member] | Loans Payable [Member]

Repayments of Related Party Debt

$ 109,000

Debt Instrument, Face Amount

352,000

Duquesne, Due 2059 [Member]

Debt Instrument, Interest Rate, Stated Percentage

^[2]

4.62%

Duquesne, Due 2059 [Member] | Senior Notes [Member]

Debt Instrument, Face Amount

$ 95,000

Debt Instrument, Interest Rate, Stated Percentage

4.62%

Oahu Solar Holdings LLC, Due 2026 [Member]

Debt Instrument, Basis Spread on Variable Rate

^[2]

1.375%

Debt Instrument, Face Amount

$ 143,000

Debt Instrument, Total Commitment

$ 162,000

Kawailoa Solar Holdings LLC, Due 2026 [Member]

Debt Instrument, Basis Spread on Variable Rate

^[2]

1.375%

Debt Instrument, Face Amount

$ 120,000

Debt Instrument, Total Commitment

$ 137,000

South Trent Wind LLC, Due 2020 [Member]

Short-term Debt, Refinanced, Amount

49,000

South Trent Wind, Due 2028 [Member]

Debt Instrument, Basis Spread on Variable Rate

^[2]

1.35%

Debt Instrument, Face Amount

$ 46,000

Project Debt for Tapestry Wind, LLC, Due 2021 [Member]

Short-term Debt, Refinanced, Amount

$ 147,000

Tapestry, Due 2031 [Member]

Debt Instrument, Basis Spread on Variable Rate

^[2],[5]

1.375%

Debt Instrument, Face Amount

$ 164,000

London Interbank Offered Rate (LIBOR) [Member] | Viento, Due 2023 and Kansas South, Due 2030 [Member]

Debt Instrument, Basis Spread on Variable Rate

2.00%

London Interbank Offered Rate (LIBOR) [Member] | Repowering Partnership Holdco LLC, due 2020 [Member] | Loans Payable [Member]

Debt Instrument, Basis Spread on Variable Rate

0.85%

London Interbank Offered Rate (LIBOR) [Member] | Oahu Solar Holdings LLC, Due 2026 [Member]

Debt Instrument, Basis Spread on Variable Rate

1.375%

London Interbank Offered Rate (LIBOR) [Member] | Kawailoa Solar Holdings LLC, Due 2026 [Member]

Debt Instrument, Basis Spread on Variable Rate

1.375%

London Interbank Offered Rate (LIBOR) [Member] | South Trent Wind LLC, Due 2020 [Member]

Debt Instrument, Basis Spread on Variable Rate

1.625%

London Interbank Offered Rate (LIBOR) [Member] | South Trent Wind, Due 2028 [Member]

Debt Instrument, Basis Spread on Variable Rate

1.35%

London Interbank Offered Rate (LIBOR) [Member] | Project Debt for Tapestry Wind, LLC, Due 2021 [Member]

Debt Instrument, Basis Spread on Variable Rate

1.75%

London Interbank Offered Rate (LIBOR) [Member] | Tapestry, Due 2031 [Member]

Debt Instrument, Basis Spread on Variable Rate

1.375%

[1]	Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement
[2]	As of September 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 2.65%
[3]	Entities affected by PG&E bankruptcy, see further discussion below.
[4]	The Company repaid the debt on October 21, 2019, as further described below
[5]	Discounts relate to the 2020 Convertible Notes

Note 7 - Long-term Debt - Long-term Debt (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2019

Dec. 31, 2018

Total debt

$ 6,179

$ 6,044

Less current maturities

(1,965)

(535)

Less net debt issuance costs

(71)

(61)

Less discounts

^[1]

(1)

Total long-term debt

4,143

5,447

Revolving Credit Facility [Member]

Total debt

^[2]

$ 0

Total debt, interest rate spread

^[2],[3]

1.75%

Revolving Credit Facility [Member] | Letter of Credit [Member]

Total debt

^[2]

$ 52

The 2019 Convertible Notes [Member]

Total debt

$ 0

220

Total debt, interest rate

^[3]

3.50%

The 2020 Convertible Notes [Member]

Total debt

$ 45

Total debt, interest rate

^[3]

3.25%

The 2024 Senior Notes [Member]

Total debt

$ 500

500

Total debt, interest rate

^[3]

5.375%

The 2025 Senior Notes [Member]

Total debt

$ 600

600

Total debt, interest rate

^[3]

5.75%

The 2026 Senior Notes [Member]

Total debt

$ 350

350

Total debt, interest rate

^[3]

5.00%

Agua Caliente Borrower 2, Due 2038 [Member]

Total debt

^[4],[5]

$ 38

Total debt, interest rate

^[3],[4],[5]

5.43%

Agua Caliente Borrower 2, Due 2038 [Member] | Letter of Credit [Member]

Total debt

^[4],[5]

$ 17

Alpine, Due 2022 [Member]

Total debt

^[4]

$ 121

127

Total debt, interest rate spread

^[3],[4]

2.00%

Alpine, Due 2022 [Member] | Letter of Credit [Member]

Total debt

^[4]

$ 16

Alta Wind I - V Lease Financing Arrangements, Due 2034 and 2035 [Member]

Total debt

$ 859

886

Alta Wind I - V Lease Financing Arrangements, Due 2034 and 2035 [Member] | Minimum [Member]

Total debt, interest rate

^[3]

5.696%

Alta Wind I - V Lease Financing Arrangements, Due 2034 and 2035 [Member] | Maximum [Member]

Total debt, interest rate

7.015%

Alta Wind I - V Lease Financing Arrangements, Due 2034 and 2035 [Member] | Letter of Credit [Member]

Total debt

$ 29

Buckthorn Solar, Due 2025 [Member]

Total debt

$ 130

132

Total debt, interest rate spread

^[3]

1.75%

Buckthorn Solar, Due 2025 [Member] | Letter of Credit [Member]

Total debt

$ 26

CVSR, Due 2037 [Member]

Total debt

^[4]

$ 696

720

CVSR, Due 2037 [Member] | Minimum [Member]

Total debt, interest rate

^[3],[4]

2.339%

CVSR, Due 2037 [Member] | Maximum [Member]

Total debt, interest rate

3.775%

CVSR, Due 2037 [Member] | Letter of Credit [Member]

Total debt

^[4]

$ 0

CVSR Holdco Notes, Due 2037 [Member]

Total debt

^[4]

$ 182

188

Total debt, interest rate

^[3],[4]

4.68%

CVSR Holdco Notes, Due 2037 [Member] | Letter of Credit [Member]

Total debt

^[4]

$ 13

Duquesne, Due 2059 [Member]

Total debt

$ 95

Total debt, interest rate

^[3]

4.62%

El Segundo Energy Center, Due 2023 [Member]

Total debt

$ 303

352

El Segundo Energy Center, Due 2023 [Member] | Minimum [Member]

Total debt, interest rate spread

^[3]

1.75%

El Segundo Energy Center, Due 2023 [Member] | Maximum [Member]

Total debt, interest rate spread

2.375%

El Segundo Energy Center, Due 2023 [Member] | Letter of Credit [Member]

Total debt

$ 138

Energy Center Minneapolis Series D, E, F, G, H Notes, Due 2025-2037 [Member]

Total debt

328

Energy Center Minneapolis Series D, E, F, G, H Notes, Due 2025-2037 [Member] | Letter of Credit [Member]

Total debt

Laredo Ridge, Due 2028 [Member]

Total debt

$ 86

Total debt, interest rate spread

^[3]

2.125%

Laredo Ridge, Due 2028 [Member] | Letter of Credit [Member]

Total debt

$ 10

Kansas South, Due 2030 [Member]

Total debt

^[4]

$ 25

Total debt, interest rate spread

^[3],[4]

2.00%

Kansas South, Due 2030 [Member] | Letter of Credit [Member]

Total debt

^[4]

$ 2

Kawailoa Solar Holdings LLC, Due 2026 [Member]

Total debt

$ 134

Total debt, interest rate spread

^[3]

1.375%

Kawailoa Solar Holdings LLC, Due 2026 [Member] | Letter of Credit [Member]

Total debt

$ 5

Marsh Landing, Due 2023 [Member]

Total debt

^[4]

$ 223

263

Total debt, interest rate spread

^[3],[4]

2.125%

Marsh Landing, Due 2023 [Member] | Letter of Credit [Member]

Total debt

^[4]

$ 27

Oahu Solar Holdings LLC, Due 2026 [Member]

Total debt

$ 157

Total debt, interest rate spread

^[3]

1.375%

Oahu Solar Holdings LLC, Due 2026 [Member] | Letter of Credit [Member]

Total debt

$ 11

Repowering Partnership Holdco LLC, due 2020 [Member]

Total debt

$ 298

Total debt, interest rate spread

^[3]

0.85%

Repowering Partnership Holdco LLC, due 2020 [Member] | Letter of Credit [Member]

Total debt

$ 29

South Trent Wind, Due 2028 [Member]

Total debt

$ 44

Total debt, interest rate spread

^[3]

1.35%

South Trent Wind, Due 2028 [Member] | Letter of Credit [Member]

Total debt

$ 12

Tapestry, Due 2031 [Member]

Total debt

^[1]

$ 159

151

Total debt, interest rate spread

^[1],[3]

1.375%

Tapestry, Due 2031 [Member] | Letter of Credit [Member]

Total debt

^[1]

$ 19

Utah Solar Portfolio, Due 2022 [Member]

Total debt

$ 260

267

Total debt, interest rate spread

^[3]

2.625%

Utah Solar Portfolio, Due 2022 [Member] | Letter of Credit [Member]

Total debt

$ 13

Viento, Due 2023 [Member]

Total debt

$ 42

146

Total debt, interest rate spread

^[3]

2.00%

Viento, Due 2023 [Member] | Letter of Credit [Member]

Total debt

$ 14

Walnut Creek, Due 2023 [Member]

Total debt

$ 189

222

Total debt, interest rate spread

^[3]

1.75%

Walnut Creek, Due 2023 [Member] | Letter of Credit [Member]

Total debt

$ 82

Project Debt, Other [Member]

Total debt

315

343

Project Debt, Other [Member] | Letter of Credit [Member]

Total debt

Project Debt [Member]

Total debt

$ 4,684

$ 4,329

[1]	Discounts relate to the 2020 Convertible Notes
[2]	Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement
[3]	As of September 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 2.65%
[4]	Entities affected by PG&E bankruptcy, see further discussion below.
[5]	The Company repaid the debt on October 21, 2019, as further described below

Note 8 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Net income attributable to Clearway Energy, Inc.

$ 39

$ 21

$ (5)

$ 116

Common Class A [Member]

Net income attributable to Clearway Energy, Inc.

^[1]

$ 12

$ 7

$ (2)

$ 40

Weighted average number of Class C common shares outstanding - basic (in shares)

^[1]

Earnings (Losses) per Weighted Average Class A and Class C Common Share - Basic (in dollars per share)

^[1]

$ 0.36

$ 0.20

$ (0.04)

$ 1.14

Net income attributable to Clearway Energy, Inc.

^[1]

$ 12

$ 7

$ (2)

$ 40

Weighted average number of Class C common shares outstanding - diluted (in shares)

^[1]

Earnings (Losses) per Weighted Average Class A Common Share - Diluted (in dollars per share)

^[1]

$ 0.36

$ 0.20

$ (0.04)

$ 1.14

Weighted average number of common shares outstanding — basic and diluted (in shares)

^[1]

Common Class C [Member]

Net income attributable to Clearway Energy, Inc.

^[1]

$ 27

$ 14

$ (3)

$ 76

Weighted average number of Class C common shares outstanding - basic (in shares)

^[1]

Earnings (Losses) per Weighted Average Class A and Class C Common Share - Basic (in dollars per share)

^[1]

$ 0.36

$ 0.20

$ (0.04)

$ 1.14

Net income attributable to Clearway Energy, Inc.

^[1]

$ 27

$ 14

$ (3)

$ 85

Weighted average number of Class C common shares outstanding - diluted (in shares)

^[1]

Earnings (Losses) per Weighted Average Class A Common Share - Diluted (in dollars per share)

^[1]

$ 0.36

$ 0.20

$ (0.04)

$ 1.10

Weighted average number of common shares outstanding — basic and diluted (in shares)

^[1]

[1]	Basic and diluted earnings per share might not recalculate due to presenting values in millions rather than whole dollars.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (d)
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Note 8 - Earnings Per Share - Anti-Dilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Common Class C [Member] \| Convertible Debt Securities [Member]
Antidilutive securities (in shares)	0	10	2	0

Note 9 - Segment Reporting - Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Total operating revenue	$ 296			$ 292			$ 797	$ 824
Cost of operations	86			84			249	247
Depreciation and amortization	112			84			285	247
General and administrative	7			6			20	17
Development costs	1			1			4	1
Operating Income (Loss)	90			100			218	293
Equity in earnings of unconsolidated affiliates	38			32			52	65
Other income, net	2			2			6	4
Interest expense	(106)			(74)			(337)	(200)
Income (Loss) Before Income Taxes	24			60			(62)	162
Income tax benefit	(11)			11			(14)	17
Net Income (Loss)	35	$ (36)	$ (47)	49	$ 96	$ (4)	(48)	145
Total Assets	8,838						8,838		$ 8,500
Acquisition-related transaction and integration costs	0			17			2	19
Impairment losses	0			0			19	0
Loss on debt extinguishment	0			0			(1)	0
Corporate, Non-Segment [Member]
Total operating revenue	0			0			0	0
Cost of operations	0			0			0	0
Depreciation and amortization	0			0			0	0
General and administrative	5			6			17	17
Development costs	0			1			0	1
Operating Income (Loss)	(5)			(24)			(19)	(37)
Equity in earnings of unconsolidated affiliates	0			0			0	0
Other income, net	0			1			1	1
Interest expense	(23)			(21)			(66)	(64)
Income (Loss) Before Income Taxes	(28)			(44)			(84)	(100)
Income tax benefit	(11)			11			(14)	17
Net Income (Loss)	(17)			(55)			(70)	(117)
Total Assets	110						110
Acquisition-related transaction and integration costs				17			2	19
Impairment losses							0
Loss on debt extinguishment							0
Conventional Generation [Member]
Total operating revenue	90			87			253	251
Conventional Generation [Member] \| Operating Segments [Member]
Total operating revenue	90			87			253	251
Cost of operations	14			12			44	44
Depreciation and amortization	25			26			75	76
General and administrative	0			0			0	0
Development costs	0			0			0	0
Operating Income (Loss)	51			49			134	131
Equity in earnings of unconsolidated affiliates	3			3			7	8
Other income, net	0			0			1	1
Interest expense	(13)			(13)			(45)	(33)
Income (Loss) Before Income Taxes	41			39			97	107
Income tax benefit	0			0			0	0
Net Income (Loss)	41			39			97	107
Total Assets	1,766						1,766
Acquisition-related transaction and integration costs				0			0	0
Impairment losses							0
Loss on debt extinguishment							0
Renewables [Member]
Total operating revenue	151			152			392	427
Renewables [Member] \| Operating Segments [Member]
Total operating revenue	151			152			392	427
Cost of operations	36			39			106	106
Depreciation and amortization	80			52			190	154
General and administrative	1			0			1	0
Development costs	0			0			0	0
Operating Income (Loss)	34			61			95	167
Equity in earnings of unconsolidated affiliates	35			29			45	57
Other income, net	2			1			4	2
Interest expense	(65)			(36)			(213)	(95)
Income (Loss) Before Income Taxes	6			55			(70)	131
Income tax benefit	0			0			0	0
Net Income (Loss)	6			55			(70)	131
Total Assets	6,330						6,330
Acquisition-related transaction and integration costs				0			0	0
Impairment losses							0
Loss on debt extinguishment							(1)
Thermal [Member]
Total operating revenue	55			53			152	146
Impairment losses		$ 19
Thermal [Member] \| Operating Segments [Member]
Total operating revenue	55			53			152	146
Cost of operations	36			33			99	97
Depreciation and amortization	7			6			20	17
General and administrative	1			0			2	0
Development costs	1			0			4	0
Operating Income (Loss)	10			14			8	32
Equity in earnings of unconsolidated affiliates	0			0			0	0
Other income, net	0			0			0	0
Interest expense	(5)			(4)			(13)	(8)
Income (Loss) Before Income Taxes	5			10			(5)	24
Income tax benefit	0			0			0	0
Net Income (Loss)	5			10			(5)	24
Total Assets	$ 632						632
Acquisition-related transaction and integration costs				$ 0			0	$ 0
Impairment losses							19
Loss on debt extinguishment							$ 0

Note 10 - Income Taxes - Income Tax Provision (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income (Loss) Before Income Taxes	$ 24	$ 60	$ (62)	$ 162
Income tax benefit	$ (11)	$ 11	$ (14)	$ 17
Effective income tax rate	(46.00%)	18.30%	22.60%	10.50%

Note 11 - Related Party Transactions (Details Textual) - USD ($) $ in Millions	2 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Aug. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Aug. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
RENOM [Member]
Related Party Transaction, Expenses from Transactions with Related Party		$ 8	$ 7		$ 22	$ 22
Due to Affiliate		$ 8			$ 8		$ 6
NRG Energy, Inc. [Member]
Revenue from Related Parties			2
NRG Energy, Inc. [Member] \| Thermal Entities [Member]
Related Party Transaction, Expenses from Transactions with Related Party	$ 1			$ 7
NRG Energy, Inc. [Member] \| Operations and Maintenance Services [Member]
Related Party Transaction, Expenses from Transactions with Related Party	7		$ 8	27
NRG Energy, Inc. [Member] \| Operations and Maintenance Services [Member] \| GenConn [Member]
Related Party Transaction, Expenses from Transactions with Related Party	1			4
NRG Energy, Inc. [Member] \| Managements Services [Member]
Related Party Transaction, Expenses from Transactions with Related Party	2			7
NRG West Coast LLC [Member] \| ESEC [Member]
Related Party Transaction, Expenses from Transactions with Related Party	7			11
NRG West Coast LLC [Member] \| Marsh Landing [Member]
Related Party Transaction, Expenses from Transactions with Related Party	$ 2			$ 11

Note 13 - Leases (Details Textual) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Lease, Liability, Total	$ 199
Operating Lease, Right-of-Use Asset	$ 191		$ 0
Operating Lease, Weighted Average Discount Rate, Percent	4.40%
Clearway Renew LLC [Member]
Operating Lease, Liability, Total	$ 21
Operating Lease, Right-of-Use Asset	$ 19
Lessee, Operating Lease, Term of Contract	35 years
Lessee, Operating Lease, Number of Renewal Options	2
Lessee, Operating Lease, Renewal Term	5 years
Minimum [Member]
Operating Lease, Weighted Average Discount Rate, Percent	4.04%
Maximum [Member]
Operating Lease, Weighted Average Discount Rate, Percent	4.67%
Accounting Standards Update 2016-02 [Member]
Operating Lease, Liability, Total		$ 174
Operating Lease, Right-of-Use Asset		$ 168

Note 13 - Leases - Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Operating lease cost	$ 2	$ 6
Variable lease cost	3	10
Total lease cost	5	16
Operating Lease, Right-of-Use Asset	191	191	$ 0
Short-term lease liability - operating leases (a)	6	6
Long-term lease liability - operating leases	193	193	$ 0
Total lease liability	$ 199	199
Cash paid for operating leases		$ 7
Weighted average remaining lease term (Year)	24 years	24 years
Operating Lease, Weighted Average Discount Rate, Percent	4.40%	4.40%

Note 13 - Leases - Maturities of Operating Lease Liabilities (Details) $ in Millions	Sep. 30, 2019 USD ($)
Remainder of 2019	$ 4
2020	14
2021	14
2022	14
2023	13
Thereafter	267
Total lease payments	326
Less imputed interest	(127)
Total lease liability - operating leases	$ 199

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

Note 13 - Leases - Revenue Related to Leases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating revenue	$ 252	$ 246	$ 675	$ 694
Conventional Generation [Member]
Operating revenue	91	88	257	255
Renewables [Member]
Operating revenue	160	158	416	438
Thermal [Member]
Operating revenue	1	(0)	2	1
Energy Revenue [Member]
Operating revenue	163	160	422	444
Energy Revenue [Member] \| Conventional Generation [Member]
Operating revenue	2	2	4	5
Energy Revenue [Member] \| Renewables [Member]
Operating revenue	160	158	416	438
Energy Revenue [Member] \| Thermal [Member]
Operating revenue	1	0	2	1
Capacity Revenue [Member]
Operating revenue	89	86	253	250
Capacity Revenue [Member] \| Conventional Generation [Member]
Operating revenue	89	86	253	250
Capacity Revenue [Member] \| Renewables [Member]
Operating revenue	0	0	0	0
Capacity Revenue [Member] \| Thermal [Member]
Operating revenue	$ 0	$ 0	$ 0	$ 0

Note 13 - Leases - Minimum Future Rent Payments (Details) $ in Millions	Sep. 30, 2019 USD ($)
Remainder of 2019	$ 91
2020	337
2021	341
2022	346
2023	154
Total lease payments	$ 1,269

Note 13 - Leases - Property, Plant and Equipment, Net Related to Operating Leases (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Accumulated depreciation	$ 1,830	$ 1,590
Net property, plant and equipment	5,562	$ 5,245
Property, Plant and Equipment Related to Operating Leases [Member]
Property, plant and equipment	6,230
Accumulated depreciation	1,600
Net property, plant and equipment	$ 4,629

Note 14 - Asset Impairments (Details Textual) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Asset Impairment Charges, Total	$ 0		$ 0	$ 19	$ 0
Thermal [Member]
Asset Impairment Charges, Total		$ 19