8 unchanged sentences
The availability and price of energy-related commodities are subject to fluctuations from factors such as weather, environmental policies, changes in supply and demand, state and federal regulatory policies, market rules and other events.
−Removed: To reduce price risk caused by market fluctuations, we enter into supply contracts and derivative contracts, including forwards, futures, swaps and options with approved counterparties.
+Added: To reduce price risk caused by market fluctuations, we enter into supply contracts and derivative contracts, including forwards, futures, swaps, treasury locks, and options with approved counterparties.
These contracts, in conjunction with physical sales and other services, help reduce risk and optimize the value of owned electric generation capacity.
2 unchanged sentences
We estimate VaR across our commodity businesses.
+Added: Table of Conte n t s
MTM VaR consists of MTM derivatives that are economic hedges.
−Removed: The MTM VaR calculation does not include market risks associated with activities that are subject to accrual accounting, primarily our generating facilities and some load-serving activities.
+Added: The calculation does not include market risks associated with activities that are subject to accrual accounting, primarily our generating facilities and some load-serving activities.
The VaR models used are variance/covariance models adjusted for the change of positions with 95% and 99.5% confidence levels and a one-day holding period for the MTM activities.
6 unchanged sentences
High $ 127 $ 365
+Added: Low $ 24 $ 70
99.5% Confidence Level, Loss could exceed VaR one day in 200 days
16 unchanged sentences
The NDT Fund is comprised primarily of fixed income and equity securities.
−Removed: As of December 31, 2022, the portfolio included $1.1 billion of equity securities and $1.1 billion in fixed income securities.
+Added: As of December 31, 2023, the portfolio included $1.3 billion of equity securities inclusive of $0.3 billion of investments in listed real assets, and $1.2 billion in fixed income securities.
The fair market value of the assets in the NDT Fund will fluctuate primarily depending upon the performance of equity markets.
6 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.