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Related-Party Transactions (Schedule Of Related Party Transactions, Payables) (Detail) (USD $)
9 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended
Sep. 30, 2013
Sep. 30, 2013
PSE And G [Member]
Dec. 31, 2012
PSE And G [Member]
Sep. 30, 2013
Power's Share Of PSE&G's Liability [Member]
Dec. 31, 2012
Power's Share Of PSE&G's Liability [Member]
SREC Price Limit $ 300        
Payable to Power through BGS and BGSS Contracts   (87,000,000) [1] (238,000,000) [1]    
Payable to Power Related to Gas Supply Hedges for BGSS   (28,000,000) [1] (27,000,000) [1]    
Payable to Power for SREC Liability   0 [2] (7,000,000) [2]    
Receivable from (Payable to) Services   (58,000,000) [3] (65,000,000) [3]    
Tax Receivable from (Payable to) PSEG   263,000,000 [4] 256,000,000 [4]    
Receivable from PSEG   3,000,000 6,000,000    
Receivable from Energy Holdings   1,000,000 2,000,000    
Accounts Receivable (Payable) - Affiliated Companies, net   94,000,000 (73,000,000)    
Working Capital Advances to Services   33,000,000 [5] 33,000,000 [5]    
Long-Term Accrued Taxes Payable   (48,000,000) [4] (32,000,000) [4]    
Accrued Liability for Excess SREC costs     $ 17,000,000 $ 9,000,000 $ 7,000,000
[1] PSE&G has entered into a requirements contract with Power under which Power provides the gas supply services needed to meet PSE&G’s BGSS and other contractual requirements. Power has also entered into contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process.
[2] Pursuant to a 2008 BPU Order, certain BGS suppliers, including Power, would be reimbursed for the cost they incurred above $300 per Solar Renewable Energy Certificate (SREC) or per Solar Alternative Compliance Payment (SACP) during the period June 1, 2008 through May 31, 2010 and such excess cost would be passed onto ratepayers. In accordance with a Stipulation of Settlement approved by the BPU in a December 2012 Order describing the mechanism for BGS suppliers to recover these costs, PSE&G, as a New Jersey EDC, estimated and accrued a total liability for the excess SREC cost expected to be recovered from ratepayers of $17 million, including approximately $7 million for Power’s share which was included in PSE&G’s Accounts Receivable (Payable)-Affiliated Companies, as of December 31, 2012. Under current accounting guidance, Power was unable to record the related intercompany receivable on its Condensed Consolidated Balance Sheet until the BPU issued an Order approving such payments. As a result, PSE&G’s liability to Power was not eliminated in consolidation and was included in Other Current Liabilities on PSEG’s Condensed Consolidated Balance Sheet as of December 31, 2012. In May 2013, the BPU issued an Order approving the BGS payments for these SRECs. This Order was not appealed and went into effect in July 2013. As a result, Power recorded its $9 million then outstanding receivable from PSE&G. In August 2013, PSE&G reimbursed Power and its other BGS suppliers for the excess SREC costs.
[3] 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.
[4] 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.
[5] 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 Condensed Consolidated Balance Sheets.