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Related-Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2013
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
 
2013
 
2012
 
2011
 
 
 
 
Millions
 
 
Revenue from Affiliates:
 
 
 
 
 
 
 
 
Billings to PSE&G through BGSS and BGS (A)
 
$
1,797

 
$
1,802

 
$
2,215

 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Administrative Billings from Services (B)
 
$
(178
)
 
$
(154
)
 
$
(147
)
 
 
Total Expense Billings from Affiliates
 
$
(178
)
 
$
(154
)
 
$
(147
)
 
 
 
 
 
 
 
 
 
 
The financial statements for PSE&G include transactions with related parties presented as follows:
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2013
 
2012
 
2011
 
 
 
 
Millions
 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Billings from Power through BGSS and BGS (A)
 
$
(1,797
)
 
$
(1,802
)
 
$
(2,215
)
 
 
Administrative Billings from Services (B)
 
(255
)
 
(230
)
 
(210
)
 
 
Total Expense Billings from Affiliates
 
$
(2,052
)
 
$
(2,032
)
 
$
(2,425
)
 
 
 
 
 
 
 
 
 
 
Schedule Of Related Party Transactions, Payables
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2013
 
2012
 
 
 
 
Millions
 
 
Payable to Power through BGS and BGSS Contracts (A)
 
$
(267
)
 
$
(265
)
 
 
Payable to Power from SREC Liability (F)
 
—

 
(7
)
 
 
Receivable from (Payable to) Services (B)
 
(73
)
 
(65
)
 
 
Receivable from (Payable to) PSEG (C)
 
150

 
262

 
 
Receivable from Energy Holdings
 
—

 
2

 
 
Accounts Receivable (Payable)—Affiliated Companies, net
 
$
(190
)
 
$
(73
)
 
 
Working Capital Advances to Services (E)
 
$
33

 
$
33

 
 
Long-Term Accrued Taxes Receivable (Payable)
 
$
(72
)
 
$
(32
)
 
 
 
 
 
 
 
 


(A)
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.
(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)
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.
(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)
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 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 approximate
Power [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
 
2013
 
2012
 
2011
 
 
 
 
Millions
 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Billings from Power through BGSS and BGS (A)
 
$
(1,797
)
 
$
(1,802
)
 
$
(2,215
)
 
 
Administrative Billings from Services (B)
 
(255
)
 
(230
)
 
(210
)
 
 
Total Expense Billings from Affiliates
 
$
(2,052
)
 
$
(2,032
)
 
$
(2,425
)
 
 
 
 
 
 
 
 
 
 
The financial statements for Power include transactions with related parties presented as follows:
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2013
 
2012
 
2011
 
 
 
 
Millions
 
 
Revenue from Affiliates:
 
 
 
 
 
 
 
 
Billings to PSE&G through BGSS and BGS (A)
 
$
1,797

 
$
1,802

 
$
2,215

 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Administrative Billings from Services (B)
 
$
(178
)
 
$
(154
)
 
$
(147
)
 
 
Total Expense Billings from Affiliates
 
$
(178
)
 
$
(154
)
 
$
(147
)
 
 
 
 
 
 
 
 
 
 
Schedule Of Related Party Transactions, Receivables
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2013
 
2012
 
 
 
 
Millions
 
 
Receivables from PSE&G through BGS and BGSS Contracts (A)
 
$
267

 
$
265

 
 
Receivable from (Payable to) Services (B)
 
(31
)
 
(31
)
 
 
Receivable from (Payable to) PSEG (C)
 
97

 
106

 
 
Accounts Receivable (Payable)—Affiliated Companies, net
 
$
333

 
$
340

 
 
Short-Term Loan to (from) Affiliate (demand Note to (from) PSEG) (D)
 
$
790

 
$
574

 
 
Working Capital Advances to Services (E)
 
$
17

 
$
17

 
 
Long-Term Accrued Taxes Receivable (Payable)
 
$
(53
)
 
$
(50
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
 
Related Party Transactions
 
2013
 
2012
 
 
 
 
Millions
 
 
Receivables from PSE&G through BGS and BGSS Contracts (A)
 
$
267

 
$
265

 
 
Receivable from (Payable to) Services (B)
 
(31
)
 
(31
)
 
 
Receivable from (Payable to) PSEG (C)
 
97

 
106

 
 
Accounts Receivable (Payable)—Affiliated Companies, net
 
$
333

 
$
340

 
 
Short-Term Loan to (from) Affiliate (demand Note to (from) PSEG) (D)
 
$
790

 
$
574

 
 
Working Capital Advances to Services (E)
 
$
17

 
$
17

 
 
Long-Term Accrued Taxes Receivable (Payable)
 
$
(53
)
 
$
(50
)
 
 
 
 
 
 
 
 
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
 
2013
 
2012
 
2011
 
 
 
 
Millions
 
 
Expense Billings from Affiliates:
 
 
 
 
 
 
 
 
Billings from Power through BGSS and BGS (A)
 
$
(1,797
)
 
$
(1,802
)
 
$
(2,215
)
 
 
Administrative Billings from Services (B)
 
(255
)
 
(230
)
 
(210
)
 
 
Total Expense Billings from Affiliates
 
$
(2,052
)
 
$
(2,032
)
 
$
(2,425
)