Financial Risk Management Activities (Tables)

9 Months Ended

Sep. 30, 2012

Schedule Of Derivative Transactions Designated And Effective As Cash Flow Hedges

	As of		As of
	September 30, 2012		December 31, 2011
	Millions
Fair Value of Cash Flow Hedges	$	—	$	57
Impact on Accumulated Other Comprehensive Income (Loss) (after tax)	$	13	$	33

Schedule Of Derivative Instruments Fair Value In Balance Sheets

	As of September 30, 2012
	Power												PSE&G			PSEG		Consolidated
	Cash Flow Hedges			Non Hedges									Non Hedges			Fair Value Hedges
Balance Sheet Location	Energy- Related Contracts			Energy- Related Contracts			Netting (A)			Total Power			Energy- Related Contracts			Interest Rate Swaps		Total Derivatives
	Millions
Derivative Contracts
Current Assets	$	3		$	354		$	(255	)	$	102		$	3		$	18	$	123
Noncurrent Assets	—			81			(59		)	22			70			52		144
Total Mark-to-Market Derivative Assets	$	3		$	435		$	(314	)	$	124		$	73		$	70	$	267
Derivative Contracts
Current Liabilities	$	(3	)	$	(303	)	$	255		$	(51	)	$	—		$	—	$	(51	)
Noncurrent Liabilities	—			(63		)	57			(6		)	(106		)	—		(112		)
Total Mark-to-Market Derivative (Liabilities)	$	(3	)	$	(366	)	$	312		$	(57	)	$	(106	)	$	—	$	(163	)
Total Net Mark-to-Market Derivative Assets (Liabilities)	$	—		$	69		$	(2	)	$	67		$	(33	)	$	70	$	104

	As of December 31, 2011
	Power												PSE&G			PSEG			Consolidated
	Cash Flow Hedges			Non Hedges									Non Hedges			Fair Value Hedges
Balance Sheet Location	Energy- Related Contracts			Energy- Related Contracts			Netting (A)			Total Power			Energy- Related Contracts			Interest Rate Swaps			Total Derivatives
	Millions
Derivative Contracts
Current Assets	$	55		$	532		$	(448	)	$	139		$	—		$	17		$	156
Noncurrent Assets	8			121			(74		)	55			4			47			106
Total Mark-to-Market Derivative Assets	$	63		$	653		$	(522	)	$	194		$	4		$	64		$	262
Derivative Contracts
Current Liabilities	$	(5	)	$	(506	)	$	387		$	(124	)	$	(7	)	$	—		$	(131	)
Noncurrent Liabilities	(1		)	(76		)	53			(24		)	—			(2		)	(26		)
Total Mark-to-Market Derivative (Liabilities)	$	(6	)	$	(582	)	$	440		$	(148	)	$	(7	)	$	(2	)	$	(157	)
Total Net Mark-to-Market Derivative Assets (Liabilities)	$	57		$	71		$	(82	)	$	46		$	(3	)	$	62		$	105

(A) Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. As of September 30, 2012 and December 31, 2011, net cash collateral received of $2 million and $82 million, respectively, was netted against the corresponding net derivative contract positions. Of the $2 million as of September 30, 2012, cash collateral of $(4) million and $(2) million were netted against current assets and noncurrent assets, respectively, and cash collateral of $4 million was netted against current liabilities. Of the $82 million as of December 31, 2011, cash collateral of $(77) million and $(23) million were netted against current assets and noncurrent assets, respectively, and cash collateral of $16 million and $2 million were netted against current liabilities and noncurrent liabilities, respectively.

Schedule Of Derivative Instruments Designated As Cash Flow Hedges

Derivatives in Cash Flow Hedging Relationships	Amount of Pre-Tax Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)					Location of Pre-Tax Gain (Loss)  Reclassified from AOCI into Income	Amount of Pre-Tax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)				Location of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)	Amount of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)
	Three Months Ended						Three Months Ended					Three Months Ended
	September 30,						September 30,					September 30,
	2012			2011			2012		2011			2012			2011
	Millions
PSEG and Power
Energy-Related Contracts	$	(3	)	$	21	Operating Revenues	$	15	$	60	Operating Revenues	$	(1	)	$	—
Total PSEG and Power	$	(3	)	$	21		$	15	$	60		$	(1	)	$	—

The following shows the effect on the Condensed Consolidated Statements of Operations and on Accumulated Other Comprehensive Income (AOCI) of derivative instruments designated as cash flow hedges for the nine months ended September 30, 2012 and 2011:

Derivatives in Cash Flow Hedging Relationships	Amount of Pre-Tax Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)					Location of Pre-Tax Gain (Loss)  Reclassified from AOCI into Income	Amount of Pre-Tax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)						Location of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)	Amount of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)
	Nine Months Ended						Nine Months Ended							Nine Months Ended
	September 30,						September 30,							September 30,
	2012			2011			2012			2011				2012			2011
	Millions
PSEG (A)
Energy-Related Contracts	$	27		$	18	Operating Revenues	$	67		$	152		Operating Revenues	$	(1	)	$	1
Energy-Related Contracts	(4		)	1		Energy Costs	(9		)	2				—			—
Interest Rate Swaps	—			—		Interest Expense	(1		)	(1		)		—			—
Total PSEG	$	23		$	19		$	57		$	153			$	(1	)	$	1
Power
Energy-Related Contracts	$	27		$	18	Operating Revenues	$	67		$	152		Operating Revenues	$	(1	)	$	1
Energy-Related Contracts	(4		)	1		Energy Costs	(9		)	2				—			—
Total Power	$	23		$	19		$	58		$	154			$	(1	)	$	1

(A) Includes amounts for PSEG parent.

Schedule Of Reconciliation For Derivative Activity Included In Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Income	Pre-Tax			After-Tax
	Millions
Balance as of December 31, 2011	$	54		$	31
Gain Recognized in AOCI	26			15
Less: Gain Reclassified into Income	(42		)	(25		)
Balance as of June 30, 2012	$	38		$	21
Loss Recognized in AOCI	(3		)	(2		)
Less: Gain Reclassified into Income	(15		)	(8		)
Balance as of September 30, 2012	$	20		$	11

Schedule Of Derivative Instruments Not Designated As Hedging Instruments And Impact On Results Of Operations

Derivatives Not Designated as Hedges	Location of Pre-Tax Gain (Loss) Recognized in Income on Derivatives	Pre-tax Gain (Loss) Recognized in Income on Derivatives
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2012			2011			2012			2011
		Millions
PSEG and Power
Energy-Related Contracts	Operating Revenues	$	(90	)	$	24		$	145		$	(18	)
Energy-Related Contracts	Energy Costs	6			(11		)	(17		)	(10		)
Total PSEG and Power		$	(84	)	$	13		$	128		$	(28	)

Schedule Of Gross Volume, On Absolute Value Basis For Derivative Contracts

Type	Notional	Total	PSEG	Power	PSE&G
	Millions
As of September 30, 2012
Natural Gas	Dth	588	—	385	203
Electricity	MWh	179	—	179	—
Capacity	MW days	4	—	—	4
FTRs	MWh	28	—	28	—
Interest Rate Swaps	US Dollars	1,100	1,100	—	—
Coal	Tons	1	—	1	—
As of December 31, 2011
Natural Gas	Dth	612	—	377	235
Electricity	MWh	137	—	137	—
FTRs	MWh	12	—	12	—
Interest Rate Swaps	US Dollars	1,100	1,100	—	—
Coal	Tons	1	—	1	—

Power [Member]

Schedule Providing Credit Risk From Others, Net Of Collateral

Rating	Current Exposure		Securities held as Collateral		Net Exposure		Number of Counterparties >10%	Net Exposure of Counterparties >10%
	Millions							Millions
Investment Grade—External Rating	$	311	$	85	$	309	2	$	153	(A)
Non-Investment Grade—External Rating	3		—		3		—	—
Investment Grade—No External Rating	9		—		9		—	—
Non-Investment Grade—No External Rating	—		—		—		—	—
Total	$	323	$	85	$	321	2	$	153

(A) Includes net exposure of $108 million with PSE&G. The remaining net exposure of $45 million is with one nonaffiliated power purchaser which is a regulated investment grade counterparty.