Financial Risk Management Activities (Tables)

12 Months Ended

Dec. 31, 2012

Text Block [Abstract]

Schedule Of Derivative Transactions Designated And Effective As Cash Flow Hedges

As of December 31, 2012 and 2011, the fair value and the impact on Accumulated Other Comprehensive Income (Loss) associated with accounting hedge activity was as follows:

	As of December 31,
	2012		2011
	Millions
Fair Value of Cash Flow Hedges	$	3	$	57
Impact on Accumulated Other Comprehensive Income (Loss) (after tax)	$	9	$	33

Schedule Of Derivative Instruments Fair Value In Balance Sheets

The following are the fair values of derivative instruments on the Consolidated Balance Sheets:

	As of December 31, 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	$	332		$	(217	)	$	118		$	5		$	15	$	138
Noncurrent Assets	—		75			(26		)	49			62			42		153
Total Mark-to-Market Derivative Assets	$	3	$	407		$	(243	)	$	167		$	67		$	57	$	291
Derivative Contracts
Current Liabilities	$	—	$	(265	)	$	219		$	(46	)	$	—		$	—	$	(46	)
Noncurrent Liabilities	—		(41		)	26			(15		)	(107		)	—		(122		)
Total Mark-to-Market Derivative (Liabilities)	$	—	$	(306	)	$	245		$	(61	)	$	(107	)	$	—	$	(168	)
Total Net Mark-to-Market Derivative Assets (Liabilities)	$	3	$	101		$	2		$	106		$	(40	)	$	57	$	123

	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 December 31, 2012 and December 31, 2011, net cash collateral paid of $2 million and net cash collateral received of $82 million, respectively, was netted against the corresponding net derivative contract positions. Of the $2 million as of December 31, 2012, cash collateral of $(3) million was netted against current assets and cash collateral of $5 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

The following shows the effect on the Consolidated Statements of Operations and on Accumulated Other Comprehensive Income (AOCI) of derivative instruments designated as cash flow hedges for the years ended December 31, 2012, 2011 and 2010:

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)									Amount of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)
	Years Ended December 31,									Years Ended December 31,									Years Ended December 31,
	2012			2011			2010			2012			2011			2010			2012		2011			2010
	Millions
PSEG (A)
Energy-Related Contracts	$	32		$	84		$	101	Operating Revenues	$	79		$	213		$	222		$	1	$	(2	)	$	1
Energy-Related Contracts	(4		)	(4		)	1		Energy Costs	(9		)	2			(2		)	—		—			—
Interest Rate Swaps	—			—			—		Interest Expense	—			(1		)	(1		)	—		—			—
Total PSEG	$	28		$	80		$	102		$	70		$	214		$	219		$	1	$	(2	)	$	1
Power
Energy-Related Contracts	$	32		$	84		$	101	Operating Revenues	$	79		$	213		$	222		$	1	$	(2	)	$	1
Energy-Related Contracts	(4		)	(4		)	1		Energy Costs	(9		)	2			(2		)	—		—			—
Total Power	$	28		$	80		$	102		$	70		$	215		$	220		$	1	$	(2	)	$	1

(A) Includes amounts for PSEG parent.

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

The following reconciles the AOCI for derivative activity included in the Accumulated Other Comprehensive Loss of PSEG on a pre-tax and after-tax basis:

AOCI	Pre-Tax			After-Tax
	Millions
Balance as of December 31, 2010	$	188		$	111
Gain Recognized in AOCI	80			47
Less: Gain Reclassified into Income	(214		)	(127		)
Balance as of December 31, 2011	$	54		$	31
Gain Recognized in AOCI	28			17
Less: Gain Reclassified into Income	(70		)	(41		)
Balance as of December 31, 2012	$	12		$	7

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

The following shows the effect on the Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as normal purchases and sales for the years ended December 31, 2012, 2011 and 2010:

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
		Years Ended December 31,
		2012			2011			2010
		Millions
PSEG and Power
Energy-Related Contracts	Operating Revenues	$	232		$	205		$	(53	)
Energy-Related Contracts	Energy Costs	(19		)	(42		)	(9		)
Total PSEG and Power		$	213		$	163		$	(62	)

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

The following reflects the gross volume, on an absolute value basis, of derivatives as of December 31, 2012 and 2011:

Type	Notional	Total	PSEG	Power	PSE&G
	Millions
As of December 31, 2012
Natural Gas	Dth	596	—	404	192
Electricity	MWh	208	—	208	—
Capacity	MW days	4	—	—	4
FTRs	MWh	19	—	19	—
Interest Rate Swaps	U.S. Dollars	850	850	—	—
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	U.S. Dollars	1,100	1,100	—	—
Coal	Tons	1	—	1	—

Schedule Providing Credit Risk From Others, Net Of Collateral

The following table provides information on Power’s credit risk from others, net of cash collateral, as of December 31, 2012. It further delineates that exposure by the credit rating of the counterparties and provides guidance on the concentration of credit risk to individual counterparties and an indication of the quality of Power’s credit risk by credit rating of the counterparties.

Rating	Current Exposure		Securities held as Collateral		Net Exposure		Number of Counterparties >10%	Net Exposure of Counterparties >10%
	Millions							Millions
Investment Grade—External Rating	$	317	$	61	$	313	2	$	165	(A)
Non-Investment Grade—External Rating	22		—		22		—	—
Investment Grade—No External Rating	10		—		10		—	—
Non-Investment Grade—No External Rating	—		—		—		—	—
Total	$	349	$	61	$	345	2	$	165

(A) Includes net exposure of $119 millionwith PSE&G. The remaining net exposure of $46 million is with a nonaffiliated power purchaser which is a regulated investment grade counterparty.