Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lease, Cost

The following amounts relate to total operating lease costs, including both amounts recognized in the Consolidated Statements of Operations during the years ended December 31, 2022, 2021 and 2020 and any amounts capitalized as part of the cost of another asset, and the cash flows arising from lease transactions.

	PSE&G			PSEG Power & Other			Total
	Millions
Operating Lease Costs
Year Ended December 31, 2022
Long-term Lease Costs	$	31		$	25		$	56
Short-term Lease Costs	21			5			26
Variable Lease Costs	2			11			13
Total Operating Lease Costs	$	54		$	41		$	95
Year Ended December 31, 2022
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	17		$	25		$	42
Weighted Average Remaining Lease Term in Years	11			7			9
Weighted Average Discount Rate	3.5		%	4.1		%	3.9		%

	PSE&G			PSEG Power & Other			Total
	Millions
Operating Lease Costs
Year Ended December 31, 2021
Long-term Lease Costs	$	24		$	26		$	50
Short-term Lease Costs	36			6			42
Variable Lease Costs	2			18			20
Total Operating Lease Costs	$	62		$	50		$	112
Year Ended December 31, 2021
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	17		$	26		$	43
Weighted Average Remaining Lease Term in Years	12			8			9
Weighted Average Discount Rate	3.4		%	4.1		%	3.8		%

	PSE&G			PSEG Power & Other			Total
	Millions
Operating Lease Costs
Year Ended December 31, 2020
Long-term Lease Costs	$	26		$	28		$	54
Short-term Lease Costs	38			7			45
Variable Lease Costs	2			29			31
Total Operating Lease Costs	$	66		$	64		$	130
Year Ended December 31, 2020
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	17		$	28		$	45
Weighted Average Remaining Lease Term in Years	12			11			11
Weighted Average Discount Rate	3.5		%	4.3		%	4.0		%

Lessee, Operating Lease, Liability, Maturity

Operating lease liabilities as of December 31, 2022 had the following maturities on an undiscounted basis:

	PSE&G		PSEG Power & Other		Total
	Millions
2023	$	15	$	20	$	35
2024	12		16		28
2025	10		15		25
2026	8		15		23
2027	8		16		24
Thereafter	56		44		100
Total Minimum Lease Payments	$	109	$	126	$	235

The following is a reconciliation of the undiscounted cash flows to the discounted Operating Lease Liabilities recognized on the Consolidated Balance Sheets:

	As of December 31, 2022
	PSE&G		PSEG Power & Other		Total
	Millions
Undiscounted Cash Flows	$	109	$	126	$	235
Reconciling Amount due to Discount Rate	(20)		(18)		(38)
Total Discounted Operating Lease Liabilities	$	89	$	108	$	197
	As of December 31, 2021
	PSE&G		PSEG Power & Other		Total
	Millions
Undiscounted Cash Flows	$	117	$	152	$	269
Reconciling Amount due to Discount Rate	(22)		(23)		(45)
Total Discounted Operating Lease Liabilities	$	95	$	129	$	224

Operating Lease, Lease Income

The following is the operating lease income for the years ended December 31, 2022, 2021 and 2020:

Operating Lease Income	Millions
Year Ended December 31, 2022
Fixed Lease Income	$	31
Variable Lease Income	—
Total Operating Lease Income	$	31
Year Ended December 31, 2021
Fixed Lease Income	$	23
Variable Lease Income	12
Total Operating Lease Income	$	35
Year Ended December 31, 2020
Fixed Lease Income	$	15
Variable Lease Income	26
Total Operating Lease Income	$	41

Lessor, Operating Lease, Payments to be Received, Maturity

Operating leases had the following minimum future fixed lease receipts as of December 31, 2022:

	Millions
2023	$	19
2024	19
2025	19
2026	19
2027	14
Thereafter	124
Total Minimum Future Lease Receipts	$	214