Revenues Revenues (Tables)

12 Months Ended

Dec. 31, 2022

Revenues [Abstract]

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenues

	PSE&G		PSEG Power & Other (A)		Eliminations		Consolidated
	Millions
Year Ended December 31, 2022
Revenues from Contracts with Customers
Electric Distribution	$	3,503	$	—	$	—	$	3,503
Gas Distribution	2,357		—		(1)		2,356
Transmission	1,589		—		—		1,589
Electricity and Related Product Sales
PJM
Third-Party Sales	—		2,152		—		2,152
Sales to Affiliates	—		151		(151)		—
NYISO	—		88		—		88
ISO-NE	—		96		—		96
Gas Sales
Third-Party Sales	—		458		—		458
Sales to Affiliates	—		1,243		(1,243)		—
Other Revenues from Contracts with Customers (B)	390		605		(6)		989
Total Revenues from Contracts with Customers	7,839		4,793		(1,401)		11,231
Revenues Unrelated to Contracts with Customers (C)	96		(1,527)		—		(1,431)
Total Operating Revenues	$	7,935	$	3,266	$	(1,401)	$	9,800

	PSE&G		PSEG Power & Other (A)		Eliminations		Consolidated
	Millions
Year Ended December 31, 2021
Revenues from Contracts with Customers
Electric Distribution	$	3,279	$	—	$	—	$	3,279
Gas Distribution	1,875		—		(13)		1,862
Transmission	1,611		—		—		1,611
Electricity and Related Product Sales
PJM
Third-Party Sales	—		2,003		—		2,003
Sales to Affiliates	—		265		(265)		—
NYISO	—		247		—		247
ISO-NE	—		172		—		172
Gas Sales
Third-Party Sales	—		181		—		181
Sales to Affiliates	—		886		(886)		—
Other Revenues from Contracts with Customers (B)	343		620		(3)		960
Total Revenues from Contracts with Customers	7,108		4,374		(1,167)		10,315
Revenues Unrelated to Contracts with Customers (C)	14		(607)		—		(593)
Total Operating Revenues	$	7,122	$	3,767	$	(1,167)	$	9,722

	PSE&G		PSEG Power & Other (A)		Eliminations		Consolidated
	Millions
Year Ended December 31, 2020
Revenues from Contracts with Customers
Electric Distribution	$	3,130	$	—	$	—	$	3,130
Gas Distribution	1,646		—		(12)		1,634
Transmission	1,485		—		—		1,485
Electricity and Related Product Sales
PJM
Third-Party Sales	—		1,551		—		1,551
Sales to Affiliates	—		447		(447)		—
NYISO	—		124		—		124
ISO-NE	—		126		—		126
Gas Sales
Third-Party Sales	—		83		—		83
Sales to Affiliates	—		771		(771)		—
Other Revenues from Contracts with Customers (B)	338		632		(4)		966
Total Revenues from Contracts with Customers	6,599		3,734		(1,234)		9,099
Revenues Unrelated to Contracts with Customers (C)	9		495		—		504
Total Operating Revenues	$	6,608	$	4,229	$	(1,234)	$	9,603

(A)Includes revenues applicable to PSEG Power, PSEG LI and Energy Holdings.

(B)Includes primarily revenues from appliance repair services and the sale of SRECs at auction at PSE&G. PSEG Power & Other includes PSEG Power’s energy management fee with LIPA and PSEG LI’s OSA with LIPA. PSEG Power & Other also includes PSEG Power’s solar power projects in 2021 and 2020.

(C)Includes primarily alternative revenues at PSE&G principally from the CIP program in 2022 and derivative contracts and lease contracts at PSEG Power & Other. For the years ended December 31, 2021 and 2020, PSEG Power & Other includes losses of $9 million and $26 million, respectively, related to Energy Holdings’ investments in leases. For additional information, see Note 9. Long-Term Investments.

Revenue, Capacity Auction Obligations [Table Text Block]

Capacity Revenues from the PJM Annual Base Residual and Incremental Auctions—The Base Residual Auction is generally conducted annually three years in advance of the operating period. The 2022/2023 auction was held in June 2021 and the 2023/2024 auction was held in June 2022. PSEG Power expects to realize the following average capacity prices resulting from the base and incremental auctions, including unit specific bilateral contracts for previously cleared capacity obligations.

Delivery Year	$ per Megawatt (MW)-Day	MW Cleared
June 2022 to May 2023	$97	3,300
June 2023 to May 2024	$49	3,700

Capacity transactions with the PJM Regional Transmission Organization are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position.

Bilateral capacity contracts—Capacity obligations pursuant to contract terms through 2028 are anticipated to result in revenues totaling $36 million.

Amended OSA—In April 2022, PSEG LI entered into an amended OSA with LIPA. The OSA remains a 12-year services contract ending in 2025 with annual fixed and variable components. The fixed fee for the provision of services thereunder in 2023 is approximately $42 million and is updated each year based on the change in the Consumer Price Index (CPI).

Accounts Receivable, Allowance for Credit Loss

The following provides a reconciliation of PSE&G’s allowance for credit losses for the years ended December 31, 2022 and 2021.

	Years Ended December 31,
	2022		2021
	Millions
Balance at Beginning of Year	$	337	$	206
Utility Customer and Other Accounts
Provision	114		195
Write-offs, net of Recoveries of $46 million and $17 million for 2022 and 2021, respectively	(112)		(64)
Balance at End of Year	$	339	$	337