Property Plant And Equipment And Jointly-Owned Facilities

Property, Plant and Equipment and Jointly-Owned Facilities

Information related to Property, Plant and Equipment as of December 31, 2018 and 2017 is detailed below:




	PSE&G		Power		Other		PSEG Consolidated
	Millions
2018
Transmission and Distribution:
Electric Transmission	$	11,991	$	—	$	—	$	11,991
Electric Distribution	8,989		—		—		8,989
Gas Distribution and Transmission	7,854		—		—		7,854
Construction Work in Progress	1,170		—		—		1,170
Other	624		—		—		624
Total Transmission and Distribution	30,628		—		—		30,628
Generation:
Fossil Production	—		6,541		—		6,541
Nuclear Production	—		2,971		—		2,971
Nuclear Fuel in Service	—		765		—		765
Other Production-Solar	623		833		—		1,456
Construction Work in Progress	—		1,011		—		1,011
Total Generation	623		12,121		—		12,744
Other	382		103		344		829
Total	$	31,633	$	12,224	$	344	$	44,201




	PSE&G		Power		Other		PSEG Consolidated
	Millions
2017
Transmission and Distribution:
Electric Transmission	$	10,425	$	—	$	—	$	10,425
Electric Distribution	8,455		—		—		8,455
Gas Distribution and Transmission	7,122		—		—		7,122
Construction Work in Progress	1,735		—		—		1,735
Other	512		—		—		512
Total Transmission and Distribution	28,249		—		—		28,249
Generation:
Fossil Production	—		4,923		—		4,923
Nuclear Production	—		2,893		—		2,893
Nuclear Fuel in Service	—		745		—		745
Other Production-Solar	593		757		—		1,350
Construction Work in Progress	—		2,339		—		2,339
Total Generation	593		11,657		—		12,250
Other	275		98		359		732
Total	$	29,117	$	11,755	$	359	$	41,231

As part of its solar production portfolio, Power owns and operates two California-based solar facilities with an aggregate capacity of approximately 30 MW direct current whose output is sold to Pacific Gas and Electric Company (PG&E) under power purchase agreements (PPAs) with twenty year terms. The net book value of these solar facilities was approximately $57 million as of December 31, 2018. In January 2019, PG&E and its parent company PG&E Corporation filed for Chapter 11 bankruptcy protection. Power cannot predict the ultimate outcome that this bankruptcy proceeding will have on its ability to collect all of the future revenues from these facilities due under the PPAs; however, any adverse changes to the terms of Power’s PPAs as a result of this bankruptcy proceeding could result in the future impairment of these assets in amounts up to their current net book value.

PSE&G and Power have ownership interests in and are responsible for providing their respective shares of the necessary financing for the following jointly-owned facilities to which they are a party. All amounts reflect PSE&G’s or Power’s share of the jointly-owned projects and the corresponding direct expenses are included in the Consolidated Statements of Operations as Operating Expenses.




			As of December 31,
			2018				2017
	Ownership				Accumulated				Accumulated
	Interest		Plant		Depreciation		Plant		Depreciation
			Millions
PSE&G:
Transmission Facilities	Various		$	162	$	58	$	162	$	58
Power:
Coal Generating:
Conemaugh	23	%	$	417	$	192	$	408	$	178
Keystone	23	%	$	416	$	200	$	409	$	187
Nuclear Generating:
Peach Bottom	50	%	$	1,334	$	389	$	1,328	$	348
Salem	57	%	$	1,196	$	333	$	1,147	$	277
Nuclear Support Facilities	Various		$	244	$	95	$	239	$	81
Pumped Storage Facilities:
Yards Creek	50	%	$	48	$	26	$	44	$	26
Merrill Creek Reservoir	14	%	$	1	$	—	$	1	$	—

Power holds undivided ownership interests in the jointly-owned facilities above. Power is entitled to shares of the generating capability and output of each unit equal to its respective ownership interests. Power also pays its ownership share of additional construction costs, fuel inventory purchases and operating expenses. Power’s share of expenses for the jointly-owned facilities is included in the appropriate expense category. Each owner is responsible for any financing with respect to its pro rata share of capital expenditures.

Power co-owns Salem and Peach Bottom with Exelon Generation. Power is the operator of Salem and Exelon Generation is the operator of Peach Bottom. A committee appointed by the co-owners provides oversight. Proposed O&M budgets and requests for major capital expenditures are reviewed and approved as part of the normal Power governance process.

GenOn Northeast Management Company is the operator for Keystone Generating Station and Conemaugh Generating Station. A committee appointed by the co-owners provides oversight. Proposed O&M budgets and requests for major capital expenditures are reviewed and approved as part of the normal Power governance process.

Power is a co-owner in the Yards Creek Pumped Storage Generation Facility. Jersey Central Power & Light Company (JCP&L) is also a co-owner and the operator of this facility. JCP&L submits separate capital and O&M budgets, subject to Power’s approval as part of the normal Power governance process.

Power is a minority owner in the Merrill Creek Reservoir and Environmental Preserve in Warren County, New Jersey. Merrill Creek Owners Group is the owner-operator of this facility. The operator submits separate capital and O&M budgets, subject to Power’s approval as part of the normal Power governance process.

Property, Plant and Equipment [Line Items]

Property Plant And Equipment And Jointly-Owned Facilities

Property, Plant and Equipment and Jointly-Owned Facilities

Information related to Property, Plant and Equipment as of December 31, 2018 and 2017 is detailed below:




	PSE&G		Power		Other		PSEG Consolidated
	Millions
2018
Transmission and Distribution:
Electric Transmission	$	11,991	$	—	$	—	$	11,991
Electric Distribution	8,989		—		—		8,989
Gas Distribution and Transmission	7,854		—		—		7,854
Construction Work in Progress	1,170		—		—		1,170
Other	624		—		—		624
Total Transmission and Distribution	30,628		—		—		30,628
Generation:
Fossil Production	—		6,541		—		6,541
Nuclear Production	—		2,971		—		2,971
Nuclear Fuel in Service	—		765		—		765
Other Production-Solar	623		833		—		1,456
Construction Work in Progress	—		1,011		—		1,011
Total Generation	623		12,121		—		12,744
Other	382		103		344		829
Total	$	31,633	$	12,224	$	344	$	44,201




	PSE&G		Power		Other		PSEG Consolidated
	Millions
2017
Transmission and Distribution:
Electric Transmission	$	10,425	$	—	$	—	$	10,425
Electric Distribution	8,455		—		—		8,455
Gas Distribution and Transmission	7,122		—		—		7,122
Construction Work in Progress	1,735		—		—		1,735
Other	512		—		—		512
Total Transmission and Distribution	28,249		—		—		28,249
Generation:
Fossil Production	—		4,923		—		4,923
Nuclear Production	—		2,893		—		2,893
Nuclear Fuel in Service	—		745		—		745
Other Production-Solar	593		757		—		1,350
Construction Work in Progress	—		2,339		—		2,339
Total Generation	593		11,657		—		12,250
Other	275		98		359		732
Total	$	29,117	$	11,755	$	359	$	41,231

As part of its solar production portfolio, Power owns and operates two California-based solar facilities with an aggregate capacity of approximately 30 MW direct current whose output is sold to Pacific Gas and Electric Company (PG&E) under power purchase agreements (PPAs) with twenty year terms. The net book value of these solar facilities was approximately $57 million as of December 31, 2018. In January 2019, PG&E and its parent company PG&E Corporation filed for Chapter 11 bankruptcy protection. Power cannot predict the ultimate outcome that this bankruptcy proceeding will have on its ability to collect all of the future revenues from these facilities due under the PPAs; however, any adverse changes to the terms of Power’s PPAs as a result of this bankruptcy proceeding could result in the future impairment of these assets in amounts up to their current net book value.

PSE&G and Power have ownership interests in and are responsible for providing their respective shares of the necessary financing for the following jointly-owned facilities to which they are a party. All amounts reflect PSE&G’s or Power’s share of the jointly-owned projects and the corresponding direct expenses are included in the Consolidated Statements of Operations as Operating Expenses.




			As of December 31,
			2018				2017
	Ownership				Accumulated				Accumulated
	Interest		Plant		Depreciation		Plant		Depreciation
			Millions
PSE&G:
Transmission Facilities	Various		$	162	$	58	$	162	$	58
Power:
Coal Generating:
Conemaugh	23	%	$	417	$	192	$	408	$	178
Keystone	23	%	$	416	$	200	$	409	$	187
Nuclear Generating:
Peach Bottom	50	%	$	1,334	$	389	$	1,328	$	348
Salem	57	%	$	1,196	$	333	$	1,147	$	277
Nuclear Support Facilities	Various		$	244	$	95	$	239	$	81
Pumped Storage Facilities:
Yards Creek	50	%	$	48	$	26	$	44	$	26
Merrill Creek Reservoir	14	%	$	1	$	—	$	1	$	—

Power holds undivided ownership interests in the jointly-owned facilities above. Power is entitled to shares of the generating capability and output of each unit equal to its respective ownership interests. Power also pays its ownership share of additional construction costs, fuel inventory purchases and operating expenses. Power’s share of expenses for the jointly-owned facilities is included in the appropriate expense category. Each owner is responsible for any financing with respect to its pro rata share of capital expenditures.

Power co-owns Salem and Peach Bottom with Exelon Generation. Power is the operator of Salem and Exelon Generation is the operator of Peach Bottom. A committee appointed by the co-owners provides oversight. Proposed O&M budgets and requests for major capital expenditures are reviewed and approved as part of the normal Power governance process.

GenOn Northeast Management Company is the operator for Keystone Generating Station and Conemaugh Generating Station. A committee appointed by the co-owners provides oversight. Proposed O&M budgets and requests for major capital expenditures are reviewed and approved as part of the normal Power governance process.

Power is a co-owner in the Yards Creek Pumped Storage Generation Facility. Jersey Central Power & Light Company (JCP&L) is also a co-owner and the operator of this facility. JCP&L submits separate capital and O&M budgets, subject to Power’s approval as part of the normal Power governance process.

Power is a minority owner in the Merrill Creek Reservoir and Environmental Preserve in Warren County, New Jersey. Merrill Creek Owners Group is the owner-operator of this facility. The operator submits separate capital and O&M budgets, subject to Power’s approval as part of the normal Power governance process.