Financial Risk Management Activities (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Financial Risk Management Activities [Abstract]

Schedule Of Derivative Instruments Fair Value In Balance Sheets

The following tabular disclosure does not include the offsetting of trade receivables and payables.

	As of December 31, 2019
	PSEG Power (A)									PSEG (A)			Consolidated
	Not Designated									Cash Flow Hedges
Balance Sheet Location	Energy- Related Contracts			Netting (B)			Total PSEG Power			Interest Rate Swaps			Total Derivatives
	Millions
Derivative Contracts
Current Assets	$	636		$	(523	)	$	113		$	—		$	113
Noncurrent Assets	163			(139		)	24			—			24
Total Mark-to-Market Derivative Assets	$	799		$	(662	)	$	137		$	—		$	137
Derivative Contracts
Current Liabilities	$	(553	)	$	522		$	(31	)	$	(5	)	$	(36	)
Noncurrent Liabilities	(139		)	138			(1		)	—			(1		)
Total Mark-to-Market Derivative (Liabilities)	$	(692	)	$	660		$	(32	)	$	(5	)	$	(37	)
Total Net Mark-to-Market Derivative Assets (Liabilities)	$	107		$	(2	)	$	105		$	(5	)	$	100

	As of December 31, 2018
		PSEG Power (A)									Consolidated
		Not Designated
Balance Sheet Location		Energy- Related Contracts			Netting (B)			Total PSEG Power			Total Derivatives
	Millions
Derivative Contracts
Current Assets		$	426		$	(415	)	$	11		$	11
Noncurrent Assets		137			(136		)	1			1
Total Mark-to-Market Derivative Assets		$	563		$	(551	)	$	12		$	12
Derivative Contracts
Current Liabilities		$	(521	)	$	510		$	(11	)	$	(11	)
Noncurrent Liabilities		(198		)	194			(4		)	(4		)
Total Mark-to-Market Derivative (Liabilities)		$	(719	)	$	704		$	(15	)	$	(15	)
Total Net Mark-to-Market Derivative Assets (Liabilities)		$	(156	)	$	153		$	(3	)	$	(3	)

(A) Substantially all of PSEG Power’s and PSEG’s derivative instruments are contracts subject to master netting agreements. Contracts not subject to master netting or similar agreements are immaterial and did not have any collateral posted or received as of December 31, 2019 and 2018.

(B)

Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of cash collateral. All cash collateral (received) posted that has been allocated to derivative positions, where the right of offset exists, has been offset on the Consolidated Balance Sheets. As of December 31, 2019 and 2018, PSEG Power had net cash collateral payments to counterparties of $44 million and $393 million, respectively. Of these net cash collateral (receipts) payments, $(2) million as of December 31, 2019 and $153 million as of December 31, 2018 were netted against the corresponding net derivative contract positions. Of the $(2) million as of December 31, 2019, $(1) million was netted against current assets, and $(1) million was netted against noncurrent assets. Of the $153 million as of December 31, 2018, $(2) million was netted against current assets, $(3) million was netted against noncurrent assets, $96 million was netted against current liabilities and $62 million was netted against noncurrent liabilities.

Schedule Of Derivative Instruments Designated As Cash Flow Hedges

The following shows the effect on the Consolidated Statements of Operations and on Accumulated Other Comprehensive Loss (AOCL) of derivative instruments designated as cash flow hedges for the years ended December 31, 2019, 2018 and 2017.

	Amount of Pre-Tax Gain (Loss) Recognized in AOCL on Derivatives								Location of Pre-Tax Gain (Loss) Reclassified from AOCL into Income	Amount of Pre-Tax Gain (Loss) Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	Years Ended December 31,									Years Ended December 31,
	2019			2018			2017			2019			2018		2017
	Millions									Millions
PSEG
Interest Rate Swaps	$	(23	)	$	(2	)	$	—	Interest Expense	$	(4	)	$	—	$	3
Total PSEG	$	(23	)	$	(2	)	$	—		$	(4	)	$	—	$	3

Schedule Of Reconciliation For Derivative Activity Included In Accumulated Other Comprehensive Loss

The following reconciles the Accumulated Other Comprehensive Income (Loss) for derivative activity included in the AOCL of PSEG on a pre-tax and after-tax basis.

Accumulated Other Comprehensive Income (Loss)	Pre-Tax			After-Tax
	Millions
Balance as of December 31, 2017	$	—		$	—
Loss Recognized in AOCI	(2		)	(1		)
Less: Gain Reclassified into Income	—			—
Balance as of December 31, 2018	$	(2	)	$	(1	)
Loss Recognized in AOCI	(23		)	(17		)
Less: Loss Reclassified into Income	4			3
Balance as of December 31, 2019	$	(21	)	$	(15	)

Schedule Of Derivative Instruments Not Designated As Hedging Instruments And Impact On Results Of Operations

The following shows the effect on the Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as NPNS for the years ended December 31, 2019, 2018 and 2017. PSEG Power’s derivative contracts reflected in this table include contracts to hedge the purchase and sale of electricity and natural gas, and the purchase of fuel. The table does not include contracts which PSEG Power has designated as NPNS, such as its BGS contracts and certain other

energy supply contracts that it has with other utilities and companies with retail load.

Derivatives Not Designated as Hedges	Location of Pre-Tax Gain (Loss) Recognized in Income on Derivatives	Pre-Tax Gain (Loss) Recognized in Income on Derivatives
		Years Ended December 31,
		2019			2018			2017
		Millions
PSEG Power
Energy-Related Contracts	Operating Revenues	$	560		$	(182	)	$	66
Energy-Related Contracts	Energy Costs	(119		)	(9		)	(11		)
Total PSEG and PSEG Power		$	441		$	(191	)	$	55

Schedule Of Gross Volume, On Absolute Value Basis For Derivative Contracts

The following table summarizes the net notional volume purchases/(sales) of open derivative transactions by commodity as of December 31, 2019 and 2018.

Type	Notional	Total		PSEG	PSEG Power		PSE&G
	Millions
As of December 31, 2019
Natural Gas	Dekatherm (Dth)	341		—	341		—
Electricity	MWh	(62	)	—	(62	)	—
Financial Transmission Rights (FTRs)	MWh	13		—	13		—
Interest Rate Swaps	U.S. Dollars	700		700	—		—
As of December 31, 2018
Natural Gas	Dth	358		—	358		—
Electricity	MWh	(74	)	—	(74	)	—
FTRs	MWh	18		—	18		—

Schedule Providing Credit Risk From Others, Net Of Collateral

Rating	Current Exposure		Securities held as Collateral		Net Exposure		Number of Counterparties >10%	Net Exposure of Counterparties >10%
	Millions							Millions
Investment Grade	$	505	$	26	$	479	2	$	263	(A)
Non-Investment Grade	3		—		3		—	—
Total	$	508	$	26	$	482	2	$	263

(A)

Represents net exposure of $213 million with PSE&G and $50 million with a non-affiliated counterparty.