Intangibles

12 Months Ended

Dec. 31, 2022

Goodwill [Line Items]

Goodwill And Other Intangibles

Intangibles

As of December 31, 2022 and 2021, PSEG had intangible assets of $14 million and $20 million, respectively, related to RECs, which are recorded at cost and evaluated for impairment at least annually. As load is served under contracts requiring energy from renewable sources, the related expense is recorded.

The changes to PSEG’s intangible assets during 2021 and 2022 are as follows:

	Emissions Allowances		RECs		Total Intangibles
	Millions
Balance as of January 1, 2021	$	112	$	46	$	158
Retirements	(58)		(114)		(172)
Purchases	9		89		98
Sales and Transfers (A)	(62)		(1)		(63)
Impairments	(1)		—		(1)
Balance as of December 31, 2021	$	—	$	20	$	20
Retirements	—		(76)		(76)
Purchases	—		70		70
Balance as of December 31, 2022	$	—	$	14	$	14