Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Unrecognized Tax Benefits

2013	PSEG			Power			PSE&G			Energy Holdings
	Millions
Total Amount of Unrecognized Tax Benefits as of January 1, 2013	$	402		$	134		$	163		$	101
Increases as a Result of Positions Taken in a Prior Period	83			33			39			11
Decreases as a Result of Positions Taken in a Prior Period	(30		)	(19		)	(9		)	(2		)
Increases as a Result of Positions Taken during the Current Period	23			8			15			—
Decreases as a Result of Positions Taken during the Current Period	—			—			—			—
Decreases as a Result of Settlements with Taxing Authorities	—			—			—			—
Decreases due to Lapses of Applicable Statute of Limitations	—			—			—			—
Total Amount of Unrecognized Tax Benefits as of December 31, 2013	$	478		$	156		$	208		$	110
Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits	(320		)	(105		)	(177		)	(37		)
Regulatory Asset—Unrecognized Tax Benefits	(30		)	—			(30		)	—
Total Amount of Unrecognized Tax Benefits that if Recognized, would Impact the Effective Tax Rate (including Interest and Penalties)	$	128		$	51		$	1		$	73

2012	PSEG			Power			PSE&G			Energy Holdings
	Millions
Total Amount of Unrecognized Tax Benefits as of January 1, 2012	$	825		$	121		$	113		$	555
Increases as a Result of Positions Taken in a Prior Period	92			27			55			9
Decreases as a Result of Positions Taken in a Prior Period	(173		)	(7		)	(47		)	(119		)
Increases as a Result of Positions Taken during the Current Period	47			3			42			—
Decreases as a Result of Positions Taken during the Current Period	—			—			—			—
Decreases as a Result of Settlements with Taxing Authorities	(389		)	(10		)	—			(344		)
Decreases due to Lapses of Applicable Statute of Limitations	—			—			—			—
Total Amount of Unrecognized Tax Benefits as of December 31, 2012	$	402		$	134		$	163		$	101
Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits	(264		)	(93		)	(133		)	(35		)
Regulatory Asset—Unrecognized Tax Benefits	(30		)	—			(30		)	—
Total Amount of Unrecognized Tax Benefits that if Recognized, would Impact the Effective Tax Rate (including Interest and Penalties)	$	108		$	41		$	—		$	66

2011	PSEG			Power			PSE&G			Energy Holdings
	Millions
Total Amount of Unrecognized Tax Benefits as of January 1, 2011	$	756		$	101		$	82		$	539
Increases as a Result of Positions Taken in a Prior Period	58			24			14			17
Decreases as a Result of Positions Taken in a Prior Period	(22		)	(9		)	—			(12		)
Increases as a Result of Positions Taken during the Current Period	37			8			18			11
Decreases as a Result of Positions Taken during the Current Period	(4		)	(3		)	(1		)	—
Decreases as a Result of Settlements with Taxing Authorities	—			—			—			—
Decreases due to Lapses of Applicable Statute of Limitations	—			—			—			—
Total Amount of Unrecognized Tax Benefits as of December 31, 2011	$	825		$	121		$	113		$	555
Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits	(379		)	(77		)	(65		)	(213		)
Regulatory Asset—Unrecognized Tax Benefits	(20		)	—			(20		)	—
Total Amount of Unrecognized Tax Benefits that if Recognized, would Impact the Effective Tax Rate (including Interest and Penalties)	$	426		$	44		$	28		$	342

Interest And Penalties Related To Uncertain Tax Positions

	Interest and Penalties on Uncertain Tax Positions Years Ended December 31,
	2013			2012			2011
	Millions
Power	$	(2	)	$	(2	)	$	(11	)
PSE&G	6			1			(24		)
Energy Holdings	44			39			420
Other	—			—			10
Total	$	48		$	38		$	395

Possible Decrease In Total Unrecognized Tax Benefits Including Interest

Possible Decrease in Total Unrecognized Tax Benefits including Interest	Over the next 12 Months
	Millions
PSEG	$	157
Power	$	71
PSE&G	$	11

Description Of Income Tax Years By Material Jurisdictions

	PSEG	Power	PSE&G
United States
Federal	2007-2012	N/A	N/A
New Jersey	2006-2012	N/A	2006-2012
Pennsylvania	2001-2012	N/A	2000-2012
Connecticut	2002-2012	N/A	N/A
Texas	2007-2012	N/A	N/A
California	2003-2012	N/A	N/A
New York	2009-2012	2009-2012	N/A

PSEG [Member]

Reconciliation Of Reported Income Tax Expense

	Years Ended December 31,
PSEG	2013			2012			2011
	Millions
Net Income	$	1,243		$	1,275		$	1,503
Income (Loss) from Discontinued Operations, net of tax	—			—			96
Income from Continuing Operations	$	1,243		$	1,275		$	1,407
Income Taxes:
Operating Income:
Current Expense:
Federal	$	487		$	(204	)	$	258
State	42			(2		)	32
Total Current	529			(206		)	290
Deferred Expense:
Federal	147			758			501
State	118			125			191
Total Deferred	265			883			692
Investment Tax Credit	18			59			(5		)
Total Income Taxes	$	812		$	736		$	977
Pre-Tax Income	$	2,055		$	2,011		$	2,384
Tax Computed at Statutory Rate @ 35%	$	719		$	704		$	834
Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments:
State Income Taxes (net of federal income tax)	108			115			146
Uncertain Tax Positions	10			4			19
Manufacturing Deduction	(9		)	—			(15		)
Nuclear Decommissioning Trust	12			10			14
Plant-Related Items	(14		)	(5		)	(6		)
Tax Credits	(9		)	(10		)	(5		)
Audit Settlement	—			(71		)	—
Other	(5		)	(11		)	(10		)
Sub-Total	93			32			143
Total Income Tax Provision	$	812		$	736		$	977
Effective Income Tax Rate	39.5		%	36.6		%	41.0		%

Deferred Income Taxes

	As of December 31,
PSEG	2013		2012
	Millions
Deferred Income Taxes
Assets:
Current (net)	$	24	$	49
Noncurrent
OPEB	$	280	$	200
Related to Uncertain Tax Position	201		75
Accumulated Other Comprehensive Income (Loss)	3		40
Other	124		262
Total Noncurrent Assets	$	608	$	577
Total Assets	$	632	$	626
Liabilities:
Current (net)	$	—	$	72
Noncurrent:
Plant-Related Items	$	4,865	$	4,685
Nuclear Decommissioning	282		209
New Jersey Corporate Business Tax	534		343
Securitization	279		371
Leasing Activities	639		656
Pension Costs	288		180
AROs	241		297
Taxes Recoverable Through Future Rate (net)	181		165
Other	293		$	118
Total Noncurrent Liabilities	$	7,602	$	7,024
Total Liabilities	$	7,602	$	7,096
Summary of Accumulated Deferred Income Taxes:
Net Current Deferred Income Tax Assets	$	24	$	49
Net Current Deferred Income Tax Liability	$	—	$	72
Net Noncurrent Deferred Income Tax Liabilities	$	6,994	$	6,447
Investment Tax Credit (ITC)	113		95
Net Total Noncurrent Deferred Income Taxes and ITC	$	7,107	$	6,542

Power [Member]

Reconciliation Of Reported Income Tax Expense

	Years Ended December 31,
Power	2013			2012			2011
	Millions
Net Income	$	644		$	666		$	1,109
Income (Loss) from Discontinued Operations, net of tax	—			—			96
Income from Continuing Operations	$	644		$	666		$	1,013
Income Taxes:
Operating Income:
Current Expense:
Federal	$	262		$	30		$	400
State	40			51			39
Total Current	302			81			439
Deferred Expense:
Federal	69			279			156
State	35			37			95
Total Deferred	104			316			251
Investment Tax Credit	13			36			—
Total Income Taxes	$	419		$	433		$	690
Pre-Tax Income	$	1,063		$	1,099		$	1,703
Tax Computed at Statutory Rate @ 35%	$	372		$	385		$	596
Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments:
State Income Taxes (net of federal income tax)	51			55			90
Manufacturing Deduction	(10		)	—			(15		)
Nuclear Decommissioning Trust	12			10			14
Tax Credits	(2		)	(7		)	(1		)
Uncertain Tax Positions	3			(6		)	11
Audit Settlement	—			(1		)	—
Other	(7		)	(3		)	(5		)
Sub-Total	47			48			94
Total Income Tax Provision	$	419		$	433		$	690
Effective Income Tax Rate	39.4		%	39.4		%	40.5		%

Deferred Income Taxes

	As of December 31,
Power	2013		2012
	Millions
Deferred Income Taxes
Assets:
Current	$	30	$	—
Noncurrent:
Pension Costs	$	—	$	38
Accumulated Other Comprehensive Income (Loss)	—		40
Contractual Liabilities & Environmental Costs	35		35
Related to Uncertain Tax Positions	32		27
Other	91		61
Total Noncurrent Assets	$	158	$	201
Total Assets	$	188	$	201
Liabilities:
Current (net)	$	—	$	16
Noncurrent:
Plant-Related Items	$	1,416	$	1,291
New Jersey Corporate Business Tax	81		32
Nuclear Decommissioning	282		209
Pension Costs	77		—
AROs	241		297
Accumulated Other Comprehensive Income (Loss)	2		—
Other	36		—
Total Noncurrent Liabilities	2,135		$	1,829
Total Liabilities	$	2,135	$	1,845
Summary of Accumulated Deferred Income Taxes:
Net Current Deferred Income Tax Assets	$	30	$	—
Net Current Deferred Income Tax Liabilities	$	—	$	16
Net Noncurrent Deferred Income Tax Liabilities	$	1,977	$	1,628
Investment Tax Credit (ITC)	54		41
Net Total Noncurrent Deferred Income Taxes and ITC	$	2,031	$	1,669

PSE&G [Member]

Reconciliation Of Reported Income Tax Expense

	Years Ended December 31,
PSE&G	2013			2012			2011
	Millions
Net Income	$	612		$	528		$	521
Income Taxes:
Operating Income:
Current Expense:
Federal	$	183		$	(217	)	$	(225	)
State	—			9			(6		)
Total Current	183			(208		)	(231		)
Deferred Expense:
Federal	101			409			483
State	92			83			92
Total Deferred	193			492			575
Investment Tax Credit	5			23			(4		)
Total Income Taxes	$	381		$	307		$	340
Pre-Tax Income	$	993		$	835		$	861
Tax Computed at Statutory Rate @ 35%	$	348		$	292		$	301
Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments:
State Income Taxes (net of federal income tax)	59			52			56
Uncertain Tax Positions	—			7			(1		)
Plant-Related Items	(14		)	(4		)	(6		)
Tax Credits	(6		)	(3		)	(4		)
Audit Settlement	—			(31		)	—
Other	(6		)	(6		)	(6		)
Sub-Total	33			15			39
Total Income Tax Provision	$	381		$	307		$	340
Effective Income Tax Rate	38.4		%	36.8		%	39.5		%

Deferred Income Taxes

	As of December 31,
PSE&G	2013		2012
	Millions
Deferred Income Taxes
Assets:
Current (net)	$	16	$	49
Noncurrent:
OPEB	$	182	$	189
Other	—		93
Total Noncurrent Assets	$	182	$	282
Total Assets	$	198	$	331
Liabilities:
Current (net)	$	30	$	60
Noncurrent:
Plant-Related Items	$	3,439	$	3,374
New Jersey Corporate Business Tax	340		253
Securitization	279		371
Conservation Costs	52		101
Pension Costs	171		189
Taxes Recoverable Through Future Rate (net)	181		165
Other	68		—
Total Noncurrent Liabilities	$	4,530	$	4,453
Total Liabilities	$	4,560	$	4,513
Summary of Accumulated Deferred Income Taxes:
Net Current Deferred Income Tax Assets	$	16	$	49
Net Current Deferred Income Tax Liability	$	30	$	60
Net Noncurrent Deferred Income Tax Liability	$	4,348	$	4,171
Investment Tax Credit (ITC)	58		52
Net Total Noncurrent Deferred Income Taxes and ITC	$	4,406	$	4,223