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Related-Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2012
Schedule Of Related Party Transactions, Revenue
The financial statements for Power include transactions with related parties presented as follows:
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2012
 
2011
 
2010
 
 
 
 
Millions
 
 
Revenue from Affiliates:
 
 
 
 
 
 
 
 
Billings to PSE&G through BGSS (A)
 
$
987

 
$
1,294

 
$
1,591

 
 
Billings to PSE&G through BGS (A)
 
815

 
921

 
1,139

 
 
Total Revenue from Affiliates
 
$
1,802

 
$
2,215

 
$
2,730

 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Administrative Billings from Services (B)
 
$
(154
)
 
$
(147
)
 
$
(145
)
 
 
Total Expense Billings from Affiliates
 
$
(154
)
 
$
(147
)
 
$
(145
)
 
 
 
 
 
 
 
 
 
 
The financial statements for PSE&G include transactions with related parties presented as follows:
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2012
 
2011
 
2010
 
 
 
 
Millions
 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Billings from Power through BGSS (A)
 
$
(987
)
 
$
(1,294
)
 
$
(1,591
)
 
 
Billings from Power through BGS (A)
 
(815
)
 
(921
)
 
(1,139
)
 
 
Administrative Billings from Services (B)
 
(230
)
 
(210
)
 
(206
)
 
 
Total Expense Billings from Affiliates
 
$
(2,032
)
 
$
(2,425
)
 
$
(2,936
)
 
 
 
 
 
 
 
 
 
 
Schedule Of Related Party Transactions, Payables
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2012
 
2011
 
 
 
 
Millions
 
 
Payable to Power through BGS and BGSS Contracts (A)
 
$
(238
)
 
$
(247
)
 
 
Payable to Power Related to Gas Supply Hedges for BGSS (A)
 
(27
)
 
(109
)
 
 
Payable to Power from SREC Liability (F)
 
(7
)
 
(7
)
 
 
Receivable from (Payable to) Services (B)
 
(65
)
 
(56
)
 
 
Tax Receivable from (Payable to) PSEG (C)
 
256

 
131

 
 
Receivable from (Payable to) PSEG
 
6

 
8

 
 
Receivable from Energy Holdings
 
2

 
—

 
 
Accounts Receivable (Payable)—Affiliated Companies, net
 
$
(73
)
 
$
(280
)
 
 
Working Capital Advances to Services (E)
 
$
33

 
$
33

 
 
Long-Term Accrued Taxes Receivable (Payable) (C)
 
$
(32
)
 
$
(83
)
 
 
 
 
 
 
 
 
(A)
PSE&G has a full requirements contract with Power to meet the supply requirements of default service gas customers. This long-term contract was for an initial period which extended through March 31, 2012 and continues on a year-to-year basis thereafter, unless terminated by either party with a one year notice. Power has also entered into contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process.
(B)
Services provides and bills administrative services to Power and PSE&G at cost. In addition, Power and PSE&G have other payables to Services, including amounts related to certain common costs, such as pension and OPEB costs, which Services pays on behalf of each of the operating companies. 
(C)
PSEG files a consolidated federal income tax return with its affiliated companies. A tax allocation agreement exists between PSEG and each of its affiliated companies. The general operation of these agreements is that the subsidiary company will compute its taxable income on a stand-alone basis. If the result is a net tax liability, such amount shall be paid to PSEG. If there are net operating losses and/or tax credits, the subsidiary shall receive payment for the tax savings from PSEG to the extent that PSEG is able to utilize those benefits.
(D)
Power’s short-term loans with PSEG are for working capital and other short-term needs. Interest Income and Interest Expense relating to these short-term funding activities were immaterial.
(E)
Power and PSE&G have advanced working capital to Services. The amounts are included in Other Noncurrent Assets on Power’s and PSE&G’s Consolidated Balance Sheets.
(F)
In 2008, the BPU issued a decision that certain BGS suppliers will be reimbursed for the cost they incurred above $300 per Solar Renewable Energy Certificate (SREC) during the period June 1, 2008 through May 31, 2010. The BPU order further provided that the excess cost may be passed on to ratepayers. Following an appeal, on March 10, 2011, the New Jersey Supreme Court reversed and remanded the BPU’s 2008 order. On May 1, 2012, the BPU reaffirmed its earlier decision and on December 19, 2012, approved a settlement that defines requirements for review and reimbursement of incremental SREC costs to certain BGS suppliers. PSE&G has estimated and accrued a total liability for the excess SREC cost of $17 million as of December 31, 2012 and 2011, including approximately $7 million for Power’s share which is included in PSE&G’s Accounts Payable—Affiliated Companies as of December 31, 2012 and 2011. Under current guidance, Power is unable to record the related intercompany receivable on its Consolidated Balance Sheet. As a result, PSE&G’s liability to Power is not eliminated in consolidation and is included in Other Current Liabilities on PSEG’s Consolidated Balance Sheet as of December 31, 2012 and 2011.
Power [Member]
  
Schedule Of Related Party Transactions, Revenue
The financial statements for Power include transactions with related parties presented as follows:
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2012
 
2011
 
2010
 
 
 
 
Millions
 
 
Revenue from Affiliates:
 
 
 
 
 
 
 
 
Billings to PSE&G through BGSS (A)
 
$
987

 
$
1,294

 
$
1,591

 
 
Billings to PSE&G through BGS (A)
 
815

 
921

 
1,139

 
 
Total Revenue from Affiliates
 
$
1,802

 
$
2,215

 
$
2,730

 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Administrative Billings from Services (B)
 
$
(154
)
 
$
(147
)
 
$
(145
)
 
 
Total Expense Billings from Affiliates
 
$
(154
)
 
$
(147
)
 
$
(145
)
 
 
 
 
 
 
 
 
 
 
The financial statements for PSE&G include transactions with related parties presented as follows:
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2012
 
2011
 
2010
 
 
 
 
Millions
 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Billings from Power through BGSS (A)
 
$
(987
)
 
$
(1,294
)
 
$
(1,591
)
 
 
Billings from Power through BGS (A)
 
(815
)
 
(921
)
 
(1,139
)
 
 
Administrative Billings from Services (B)
 
(230
)
 
(210
)
 
(206
)
 
 
Total Expense Billings from Affiliates
 
$
(2,032
)
 
$
(2,425
)
 
$
(2,936
)
 
 
 
 
 
 
 
 
 
 
Schedule Of Related Party Transactions, Receivables
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2012
 
2011
 
 
 
 
Millions
 
 
Receivables from PSE&G through BGS and BGSS Contracts (A)
 
$
238

 
$
247

 
 
Receivables from PSE&G Related to Gas Supply Hedges for BGSS (A)
 
27

 
109

 
 
Receivable from (Payable to) Services (B)
 
(31
)
 
(26
)
 
 
Tax Receivable from (Payable to) PSEG (C)
 
111

 
58

 
 
Receivable from (Payable to) PSEG
 
(5
)
 
(7
)
 
 
Accounts Receivable (Payable)—Affiliated Companies, net
 
$
340

 
$
381

 
 
Short-Term Loan to (from) Affiliate (demand Note to (from) PSEG) (D)
 
$
574

 
$
907

 
 
Working Capital Advances to Services (E)
 
$
17

 
$
17

 
 
Long-Term Accrued Taxes Receivable (Payable) (C)
 
$
(50
)
 
$
(8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2012
 
2011
 
 
 
 
Millions
 
 
Receivables from PSE&G through BGS and BGSS Contracts (A)
 
$
238

 
$
247

 
 
Receivables from PSE&G Related to Gas Supply Hedges for BGSS (A)
 
27

 
109

 
 
Receivable from (Payable to) Services (B)
 
(31
)
 
(26
)
 
 
Tax Receivable from (Payable to) PSEG (C)
 
111

 
58

 
 
Receivable from (Payable to) PSEG
 
(5
)
 
(7
)
 
 
Accounts Receivable (Payable)—Affiliated Companies, net
 
$
340

 
$
381

 
 
Short-Term Loan to (from) Affiliate (demand Note to (from) PSEG) (D)
 
$
574

 
$
907

 
 
Working Capital Advances to Services (E)
 
$
17

 
$
17

 
 
Long-Term Accrued Taxes Receivable (Payable) (C)
 
$
(50
)
 
$
(8
)
 
 
 
 
 
 
 
 
PSE&G [Member]
  
Schedule Of Related Party Transactions, Revenue
The financial statements for PSE&G include transactions with related parties presented as follows:
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2012
 
2011
 
2010
 
 
 
 
Millions
 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Billings from Power through BGSS (A)
 
$
(987
)
 
$
(1,294
)
 
$
(1,591
)
 
 
Billings from Power through BGS (A)
 
(815
)
 
(921
)
 
(1,139
)
 
 
Administrative Billings from Services (B)
 
(230
)
 
(210
)
 
(206
)
 
 
Total Expense Billings from Affiliates
 
$
(2,032
)
 
$
(2,425
)
 
$
(2,936
)