NOTES TO THE PARENT COMPANY'S BALANCE SHEET

17. Derivative instruments
Nominal values of derivative contracts, net20152014
FOREIGN EXCHANGE DERIVATIVES
Forward contracts40 96961 108
INTEREST RATE DERIVATIVES
Interest rate swaps128 528157 585
COMMODITY DERIVATIVES
Electricity forwards--
Total169 497218 693
Fair values of derivative instruments
2015
Fair value
positive
2015
Fair value
negative
2015
Fair value
net
2014
Fair value
net
Foreign exchange derivatives
Forward contracts 296 -370 -74 410
Interest rate derivatives
Interest rate swaps - -14 041 -14 041 -15 665
Commodity derivatives
Electricity futures 2 152 -2 152 - -
Total 2 448 -16 563 -14 115 -15 255
Derivative instruments to which hedge accounting applies
2015
Nominal
value, net
2015
Fair value
eff.portion
2014
Nominal
value, net
2014
Fair value
eff.portion
Foreign exchange derivatives
Forward contracts - - - -
Commodity derivatives
Electricity futures - - - -
Interest rate derivatives
Interest rate swaps 128 528 -13 979 137 585 -15 465
Total 128 528 -13 979 137 585 -15 465