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Fair Value Measurements (PSEG's, Power's And PSE&G's Respective Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Detail) - USD ($)
$ in Millions
Dec. 31, 2022
Jun. 30, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Collateral Already Posted, Aggregate Fair Value $ 1,521 $ 343 $ 844
Total Mark-to-Market Derivative Assets 33   100
Total Mark-to-Market Derivative (Liabilities) (157)   (34)
Cash and foreign currency excluded from Fair Value 2   2
Quoted Market Prices for Identical Assets (Level 1) [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents [1] 385   615
Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents [1] 165   250
Significant Other Observable Inputs (Level 2) [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents [1] 0   0
Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents [1] 0   0
Significant Unobservable Inputs (Level 3) [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents [1] 0   0
Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents [1] 0   0
Interest Rate Swaps [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total Mark-to-Market Derivative Assets [2] 0    
Interest Rate Swaps [Member] | Significant Other Observable Inputs (Level 2) [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total Mark-to-Market Derivative Assets [2] (4)    
Total Mark-to-Market Derivative (Liabilities) [2] (3)    
Interest Rate Swaps [Member] | Significant Unobservable Inputs (Level 3) [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total Mark-to-Market Derivative (Liabilities) [2] 0    
Energy-Related Contracts [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [3] 1,111   615
Energy-Related Contracts [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total Mark-to-Market Derivative Assets [4] 42   25
Total Mark-to-Market Derivative (Liabilities) [4] (3)   (26)
Energy-Related Contracts [Member] | Significant Other Observable Inputs (Level 2) [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total Mark-to-Market Derivative Assets [4] 2,307   1,336
Total Mark-to-Market Derivative (Liabilities) [4] (3,537)   (1,880)
Energy-Related Contracts [Member] | Significant Unobservable Inputs (Level 3) [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total Mark-to-Market Derivative Assets [4] 1   1
Total Mark-to-Market Derivative (Liabilities) [4] (46)   (5)
Cash and Cash Equivalents [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5] 0   0
Cash and Cash Equivalents [Member] | Public Service Electric and Gas Company      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net 0 [5]   0
Assets [Member] | Energy-Related Contracts [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [3],[5] (2,321)   (1,262)
Other Liabilities [Member] | Energy-Related Contracts [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [3],[5] 3,432   1,877
Other Assets | Interest Rate Swaps [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [2] 0    
Total Estimate Of Fair Value [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents [1] 385   615
Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash Equivalents [1] 165   250
Total Estimate Of Fair Value [Member] | Interest Rate Swaps [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total Mark-to-Market Derivative Assets [2] (4)    
Total Mark-to-Market Derivative (Liabilities) [2] (3)    
Total Estimate Of Fair Value [Member] | Energy-Related Contracts [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Total Mark-to-Market Derivative Assets [4] 29   100
Total Mark-to-Market Derivative (Liabilities) [4] (154)   (34)
Nuclear Decommissioning Trust (NDT) Fund [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
NDT Fund Foreign Currency 2   2
Cash and foreign currency excluded from Fair Value 2   2
Nuclear Decommissioning Trust (NDT) Fund [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Cost 812   837
Nuclear Decommissioning Trust (NDT) Fund [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Domestic Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cost 476   491
Nuclear Decommissioning Trust (NDT) Fund [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 1,072   1,301
Nuclear Decommissioning Trust (NDT) Fund [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Other Observable Inputs (Level 2) [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 339   373
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Other Observable Inputs (Level 2) [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 288   314
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 529   647
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Unobservable Inputs (Level 3) [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Unobservable Inputs (Level 3) [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Total Estimate Of Fair Value [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 1,072   1,301
Nuclear Decommissioning Trust (NDT) Fund [Member] | Total Estimate Of Fair Value [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 339   373
Nuclear Decommissioning Trust (NDT) Fund [Member] | Total Estimate Of Fair Value [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 288   314
Nuclear Decommissioning Trust (NDT) Fund [Member] | Total Estimate Of Fair Value [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 529   647
Rabbi Trust [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Rabbi Trust [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Rabbi Trust [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Rabbi Trust [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Rabbi Trust [Member] | Domestic Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cost 14   14
Rabbi Trust [Member] | Public Service Electric and Gas Company | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Rabbi Trust [Member] | Public Service Electric and Gas Company | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Rabbi Trust [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Rabbi Trust [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [5],[6] 0   0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 20   26
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 3   5
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 32   34
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 57   73
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 74   109
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 6   6
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 10   13
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 13   19
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 0   0
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 20   26
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 32   34
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 57   73
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 74   109
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company | Equity Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 3   5
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company | Government Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 6   6
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] 10   13
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Measured on Recurring Basis, Investments [6] $ 13   $ 19
[1] Represents money market mutual funds.
[2] Interest rate swaps are valued using quoted prices on commonly quoted intervals, which are interpolated for periods different than the quoted intervals, as inputs to a market valuation model. Market inputs can generally be verified and model selection does not involve significant management judgement.
[3] 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, 2022 and 2021, PSEG Power had net cash collateral payments to counterparties of $1,521 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,111 million as of December 31, 2022 and $615 million as of December 31, 2021 were netted against the corresponding net derivative contract positions. Of the $1,111 million as of December 31, 2022, $616 million was netted against current liabilities and $495 million was netted against noncurrent liabilities. Of the $615 million as of December 31, 2021, $(30) million was netted against current assets, $(13) million was netted against non-current assets, $323 million was netted against current liabilities and $335 million was netted against noncurrent liabilities.
[4] Level 1—These contracts represent natural gas futures contracts executed on NYMEX, and are being valued solely on settled pricing inputs which come directly from the exchange.
Level 2—Fair values for energy-related contracts are obtained primarily using a market-based approach. Most derivative contracts (forward purchase or sale contracts and swaps) are valued using settled prices from similar assets and liabilities from an exchange, such as NYMEX, ICE and Nodal Exchange, or auction prices. Prices used in the valuation process are also corroborated independently by management to determine that values are based on actual transaction data or, in the absence of transactions, bid and offers for the day. Examples may include certain exchange and non-exchange traded capacity and electricity contracts and natural gas physical or swap contracts based on market prices, basis adjustments and other premiums where adjustments and premiums are not considered significant to the overall inputs.
Level 3—Unobservable inputs are used for the valuation of certain contracts. See “Additional Information Regarding Level 3 Measurements” below for more information on the utilization of unobservable inputs.
[5] Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. See Note 18. Financial Risk Management Activities for additional detail.
[6] As of December 31, 2022 and 2021, the fair value measurement table excludes cash and foreign currency of $2 million in the NDT Fund. The NDT Fund maintains investments in various equity and fixed income securities. The
Rabbi Trust maintains investments in a Russell 3000 index fund and various fixed income securities. These securities are generally valued with prices that are either exchange provided (equity securities) or market transactions for comparable securities and/or broker quotes (fixed income securities).
Level 1—Investments in marketable equity securities within the NDT Fund are primarily investments in common stocks across a broad range of industries and sectors. Most equity securities are priced utilizing the principal market close price or, in some cases, midpoint, bid or ask price. Certain other equity securities in the NDT and Rabbi Trust Funds consist primarily of investments in money market funds which seek a high level of current income as is consistent with the preservation of capital and the maintenance of liquidity. To pursue its goals, the funds normally invest in diversified portfolios of high quality, short-term, dollar-denominated debt securities and government securities. The funds’ net asset value is priced and published daily. The Rabbi Trust’s Russell 3000 index fund is valued based on quoted prices in an active market and can be redeemed daily without restriction.
Level 2—NDT and Rabbi Trust fixed income securities include investment grade corporate bonds, collateralized mortgage obligations, asset-backed securities and certain government and U.S. Treasury obligations or Federal Agency asset-backed securities and municipal bonds with a wide range of maturities. Since many fixed income securities do not trade on a daily basis, they are priced using an evaluated pricing methodology that varies by asset class and reflects observable market information such as the most recent exchange price or quoted bid for similar securities. Market-based standard inputs typically include benchmark yields, reported trades, broker/dealer quotes and issuer spreads. Certain short-term investments are valued using observable market prices or market parameters such as time-to-maturity, coupon rate, quality rating and current yield.