Liquidity and Capital Resources Liquidity Position As of December 31, 2010, and 2009, NRG’s liquidity, excluding collateral received, was approximately $4.3 billion and $3.8 billion, respectively, comprised of the following:
## Table 0 ##
For the year ended December 31, 2010, total liquidity, excluding collateral received, increased by $458 million due to a higher cash balance of $647 million, partially offset by decreased availability of the Funded Letter of Credit Facility and the Revolving Credit Facility of $143 million and $52 million, respectively.
The decrease in Revolving Credit Facility availability was due to a reduction in capacity of $125 million in connection with the refinancing of the Senior Credit Facility, which was offset by an increase of $59 million due to the cancellation in February 2010 of the letter of credit issued in support of the Dunkirk bonds and an adjustment to the letter of credit issued related to the Peaker Finance Co.  bonds, as described further in Item 15 — Note 12, Debt and Capital Leases, to the Consolidated Financial Statements.
Changes in cash balances are further discussed hereinafter under Cash Flow Discussion.
Cash and cash equivalents and funds deposited by counterparties at December 31, 2010, are predominantly held in money market funds invested in treasury securities, treasury repurchase agreements or government agency debt.
The line item ‘‘Funds deposited by counterparties’’ represents the amounts that are held by NRG as a result of collateral posting obligations from the Company’s counterparties due to positions in the Company’s hedging program.
These amounts are segregated into separate accounts that are not contractually restricted but, based on the Company’s intention, are not available for the payment of NRG’s general corporate obligations.
Depending on market fluctuation and the settlement of the underlying contracts, the Company will refund this collateral to the counterparties pursuant to the terms and conditions of the underlying trades.
Since collateral requirements fluctuate daily and the Company cannot predict if any collateral will be held for more than twelve months, the funds deposited by counterparties are classified as a current asset on the Company’s balance sheet, with an offsetting liability for this cash collateral received within current liabilities.
The change in these amounts from December 31, 2009, was due to an increase in the forward values of hedges due to lower natural gas prices and a renegotiation of the credit limit with one counterparty.
Management believes that the Company’s liquidity position and cash flows from operations will be adequate to finance operating and maintenance capital expenditures, to fund dividends to NRG’s preferred shareholders, and other liquidity commitments.
Management continues to regularly monitor the Company’s ability to finance the needs of its operating, financing and investing activity within the dictates of prudent balance sheet management.
Credit Ratings Credit rating agencies rate a firm’s public debt securities.
These ratings are utilized by the debt markets in evaluating a firm’s credit risk.
Ratings influence the price paid to issue new debt securities by indicating to the market the Company’s ability to pay principal, interest and preferred dividends.
Rating agencies evaluate a firm’s industry, cash flow, leverage, liquidity, and hedge profile, among other factors, in their credit analysis of a firm’s credit risk.
The following table summarizes the credit ratings for NRG Energy, Inc. , its Term Loan Facility and its Senior Notes as of December 31, 2010:
## Table 1 ##
Sources of Liquidity The principal sources of liquidity for NRG’s future operating and capital expenditures are expected to be derived from new and existing financing arrangements, existing cash on hand and cash flows from operations.
As described in Item 15 — Note 12 — Debt and Capital Leases, to the Consolidated Financial Statements, the Company’s financing arrangements consist mainly of the Senior Credit Facility, the TANE and Shaw Facilities, the Senior Notes, project-related financings and the GenConn Energy LLC related financings.
In addition, NRG has granted first and second liens to certain counterparties on substantially all of the Company’s assets.
NRG uses the first or second lien structure to reduce the amount of cash collateral and letters of credit that it would otherwise be required to post from time to time to support its obligations under out-of-the-money hedge agreements for forward sales of power or MWh equivalents.
To the extent that the underlying hedge positions for a counterparty are in-the-money to NRG, the counterparty would have no claim under the lien program.
The lien program limits the volume that can be hedged, not the value of underlying out-of-the-money positions.
The first lien program does not require NRG to post collateral above any threshold amount of exposure.
Within the first and second lien structure, the Company can hedge up to 80% of its baseload capacity and 10% of its non-baseload assets with these counterparties for the first 60 months and then declining thereafter.
Net exposure to a counterparty on all trades must be positively correlated to the price of the relevant commodity for the first lien to be available to that counterparty.
The first and second lien structure is not subject to unwind or termination upon a ratings downgrade of a counterparty and has no stated maturity date.
The Company’s lien counterparties may have a claim on its assets to the extent market prices exceed the hedged price.
As of December 31, 2010, all hedges under the first and second liens were in-the-money on a counterparty aggregate basis.
The following table summarizes the amount of MWs hedged against the Company’s baseload assets and as a percentage relative to the Company’s baseload capacity under the first and second lien structure as of December 31, 2010:
## Table 2 ##
(a) Equivalent Net Sales include natural gas swaps converted using a weighted average heat rate by region.
(b) 2011 MW value consists of February through December positions only.
(c) Eligible baseload capacity under the first and second lien structure represents 80% of the Company’s total net baseload assets.
Uses of Liquidity The Company’s requirements for liquidity and capital resources, other than for operating its facilities, can generally be categorized by the following: (i) commercial operations activities; (ii) debt service obligations, as described more fully in Item 15 — Note 12, Debt and Capital Leases, to the Consolidated Financial Statements; (iii) capital expenditures including RepoweringNRG and environmental; and (iv) corporate financial transactions including return of capital to shareholders, as described in Item 15 — Note 15, Capital Structure, to the Consolidated Financial Statements.
Commercial Operations Overview NRG seeks to maximize profitability and manage cash flow volatility through the marketing, trading and sale of energy, capacity and ancillary services into spot, intermediate and long-term markets and through the active management and trading of emissions allowances, fuel supplies and transportation-related services.
The Company’s principal objectives are the realization of the full market value of its asset base, including the capture of its extrinsic value, the management and mitigation of commodity market risk and the reduction of cash flow volatility over time.
NRG enters into power sales and hedging arrangements via a wide range of products and contracts, including power purchase agreements, or PPAs, fuel supply contracts, capacity auctions, natural gas swap agreements and other financial instruments.
The PPAs that NRG enters into require the Company to deliver MWh of power to its counterparties.
In addition, because changes in power prices in the markets where NRG operates are generally correlated to changes in natural gas prices, NRG uses hedging strategies which may include power and natural gas forward sales contracts to manage the commodity price risk primarily associated with the Company’s baseload generation assets.
The objective of these hedging strategies is to stabilize the cash flow generated by NRG’s portfolio of assets.
The following table summarizes NRG’s U. S.  baseload capacity and the corresponding revenues and average natural gas prices resulting from baseload hedge agreements extending beyond December 31, 2011, and through 2015:
## Table 3 ##
(a) Nameplate capacity net of station services reflecting unit retirement schedule.
(b) Forecasted generation dispatch output (MWh) based on forward price curve as of December 31, 2010, which is then divided by 8,760 hours (8,784 hours in 2012) to arrive at MW capacity.
The dispatch takes into account planned and unplanned outage assumptions.
(c) Includes amounts under power sales contracts and natural gas hedges.
The forward natural gas quantities are reflected in equivalent MWh based on forward market implied heat rate as of December 31, 2010 and then combined with power sales to arrive at equivalent MWh hedged which is then divided by 8,760 hours (8,784 hours in 2012) to arrive at MW hedged.
(d) Includes inter-segment sales from the Company’s Texas wholesale power generation business to Reliant Energy.
(e) Percentage hedged is based on total MW sold as power and natural gas converted using the method as described in (c) above divided by the forecasted baseload capacity.
(f) Represents all North American baseload sales, including energy revenue and demand charges.
(g) The South Central region’s weighted average hedged prices ranges from $40/MWh — $50/MWh.
These prices include demand charges and an estimated energy charge.
(h) NM — Not meaningful, as the transportation component of coal costs is subject to renegotiation with the railroad.
NRG’s retail operations sell electricity on fixed price or indexed products, and these contracts have terms typically ranging from one month to five years.
In a typical year, the Company sells approximately 50 TWh of load, but this amount can be affected by weather, economic conditions and competition.
The wholesale supply is typically purchased as the load is contracted in order to secure profit margin.
The wholesale supply is purchased from a combination of NRG’s wholesale portfolio and other third parties, depending on the existing hedge position for the NRG wholesale portfolio at the time.
ZIMMER HOLDINGS, INC.  2007 FORM 10-K ANNUAL REPORT customary affirmative and negative covenants and events of default for an unsecured financing arrangement, including, among other things, limitations on consolidations, mergers and sales of assets.
Financial covenants include a maximum leverage ratio of 3.0 to 1.0 and a minimum interest coverage ratio of 3.5 to 1.0.
If we fall below an investment grade credit rating, additional restrictions would result, including restrictions on investments, payment of dividends and stock repurchases.
We were in compliance with all covenants under the Senior Credit Facility as of December 31, 2007.
Commitments under the Senior Credit Facility are subject to certain fees, including a facility and a utilization fee.
The Senior Credit Facility is rated A- by Standard & Poor’s Ratings Services and is not rated by Moody’s Investors’ Service, Inc.  We also have available uncommitted credit facilities totaling $70.4 million.
Management believes that cash flows from operations, together with available borrowings under the Senior Credit Facility, are sufficient to meet our expected working capital, capital expenditure and debt service needs.
Should investment opportunities arise, we believe that our earnings, balance sheet and cash flows will allow us to obtain additional capital, if necessary.
CONTRACTUAL OBLIGATIONS We have entered into contracts with various third parties in the normal course of business which will require future payments.
The following table illustrates our contractual obligations (in millions):

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="2">As of December 31,</td></tr><tr><td></td><td>2010</td><td>2009</td></tr><tr><td></td><td colspan="2">(In millions)</td></tr><tr><td>Cash and cash equivalents</td><td>$2,951</td><td>$2,304</td></tr><tr><td>Funds deposited by counterparties</td><td>408</td><td>177</td></tr><tr><td>Restricted cash</td><td>8</td><td>2</td></tr><tr><td>Total cash</td><td>3,367</td><td>2,483</td></tr><tr><td>Funded Letter of Credit Facility availability</td><td>440</td><td>583</td></tr><tr><td>Revolving Credit Facility availability</td><td>853</td><td>905</td></tr><tr><td>Total liquidity</td><td>4,660</td><td>3,971</td></tr><tr><td>Less: Funds deposited as collateral by hedge counterparties</td><td>-408</td><td>-177</td></tr><tr><td>Total liquidity, excluding collateral received</td><td>$4,252</td><td>$3,794</td></tr></table>
<table><tr><td> </td><td> S&P</td><td> Moody's</td><td> Fitch</td></tr><tr><td>NRG Energy, Inc.</td><td>BB-</td><td>Ba3</td><td>B+</td></tr><tr><td>8.25% Senior Notes, due 2020</td><td>BB-</td><td>B1</td><td>BB</td></tr><tr><td>8.5% Senior Notes due 2019</td><td>BB-</td><td>B1</td><td>BB</td></tr><tr><td>7.375% Senior Notes, due 2016, 2017</td><td>BB-</td><td>B1</td><td>BB</td></tr><tr><td>7.25% Senior Notes due 2014</td><td>BB-</td><td>B1</td><td>BB</td></tr><tr><td>Term Loan Facility</td><td>BB+</td><td>Baa3</td><td>BB+</td></tr></table>
<table><tr><td> Equivalent Net Sales Secured by First and Second Lien Structure<sup>(a)</sup></td><td>2011</td><td>2012</td><td>2013</td><td> 2014</td></tr><tr><td>In MW<sup>(b)</sup></td><td>2,019</td><td>1,111</td><td>196</td><td>7</td></tr><tr><td>As a percentage of total eligible baseload capacity<sup>(c)</sup></td><td>30%</td><td>16%</td><td>3%</td><td>—</td></tr></table>
<table><tr><td> </td><td>2011</td><td>2012</td><td>2013</td><td>2014</td><td>2015</td><td> Annual Average for 2011-2015</td></tr><tr><td> </td><td colspan="6"> (Dollars in millions unless otherwise stated) </td></tr><tr><td>Net Baseload Capacity (MW)<sup>(a)</sup></td><td>8,477</td><td>8,450</td><td>8,450</td><td>8,295</td><td>8,295</td><td>8,393</td></tr><tr><td>Forecasted Baseload Capacity (MW)<sup>(b)</sup></td><td>6,659</td><td>6,569</td><td>6,554</td><td>6,459</td><td>6,482</td><td>6,545</td></tr><tr><td>Total Baseload Sales (MW)<sup>(c)</sup><sup>(d)</sup></td><td>6,700</td><td>3,310</td><td>1,989</td><td>803</td><td>680</td><td>2,697</td></tr><tr><td>Percentage Baseload Capacity Sold Forward<sup>(e)</sup></td><td>101%</td><td>50%</td><td>31%</td><td>12%</td><td>10%</td><td>41%</td></tr><tr><td>Total Forward Hedged Revenues<sup>(f)</sup><sup>(g)</sup></td><td>$2,866</td><td>$1,704</td><td>$943</td><td>$326</td><td>NM(h)</td><td>$1,460</td></tr><tr><td>Weighted Average Hedged Price ($ per MWh)<sup>(f)</sup></td><td>$49</td><td>$59</td><td>$54</td><td>$46</td><td>NM(h)</td><td>$52</td></tr><tr><td>Average Equivalent Natural Gas Price ($ per MMBtu)</td><td>$6.10</td><td>$7.63</td><td>$7.14</td><td>$6.41</td><td>NM(h)</td><td>$6.67</td></tr></table>

Question: What is the average value of Total Forward Hedged Revenues in 2012,2013 and 2014 ?
Answer: 991
Reasoning program: add(1704,943), add(#0,326), divide(#1,3)