XML 38 R152.htm IDEA: XBRL DOCUMENT v2.4.0.8
Related-Party Transactions (Schedule Of Related Party Transactions, Receivables) (Detail) (Power [Member], USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Power [Member]
   
Receivables from PSE&G through BGS and BGSS Contracts $ 267 [1] $ 265 [1]
Receivable from (Payable to) Services (31) [2] (31) [2]
Receivable from (Payable to) PSEG 97 [3] 106 [3]
Accounts Receivable-Affiliated Companies, net 333 340
Short-Term Loan to Affiliate (Demand Note to PSEG) 790 [4] 574 [4]
Working Capital Advances to Services 17 [5] 17 [5]
Long-Term Accrued Taxes Receivable (Payable) $ (53) $ (50)
[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] 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.
[3] Receivable primarily relates to tax amounts due to PSEG from its affiliates as PSEG files a consolidated federal income tax return together 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.
[4] 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.
[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 Consolidated Balance Sheets.