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Fair Value Measurements (Changes In Level 3 Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Detail) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Settlements $ (4) $ (1) $ (16) $ 58
Power [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Gains and losses attributable to changes in net derivative assets and liabilities, included in Operating Income 5 6 8 (58)
Gains and losses attributable to changes in net derivative assets and liabilities, unrealized 0 6 (9) 1
Net Derivative Assets (Liabilities) [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance 9 1 37 88
Included in Income 5 [1] 6 [1] 8 [1] (58) [2]
Included in Regulatory Assets/Liabilities [3] (2) 10 (21) (72)
Purchases, (Sales) 0 0 0 0
Issuances (Settlements) [4] (4) (1) (16) 58
Transfers In (Out) 0 [5] (3) [5] 0 (3) [5]
Closing Balance 8 13 8 13
Net Derivative Assets (Liabilities) [Member] | Power [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance 2 (11) 11 (6)
Included in Income 5 [1] 6 [1] 8 [1] (58) [2]
Included in Regulatory Assets/Liabilities [3] 0 0 0 0
Purchases, (Sales) 0 0 0 0
Issuances (Settlements) [4] (4) (1) (16) 58
Transfers In (Out) 0 [5] (3) [5] 0 (3) [5]
Closing Balance 3 (9) 3 (9)
Net Derivative Assets (Liabilities) [Member] | PSE And G [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance 7 12 26 94
Included in Income 0 [1] 0 [1] 0 [1] 0 [2]
Included in Regulatory Assets/Liabilities [3] (2) 10 (21) (72)
Purchases, (Sales) 0 0 0 0
Issuances (Settlements) [4] 0 0 0 0
Transfers In (Out) 0 [5] 0 [5] 0 0 [5]
Closing Balance $ 5 $ 22 $ 5 $ 22
[1] PSEG’s and Power’s gains and losses attributable to changes in net derivative assets and liabilities includes $5 million and $8 million in Operating Income for the three months and six months ended June 30, 2015, respectively. The $5 million in Operating Income is realized. Of the $8 million in Operating Income, $(9) million is unrealized.
[2] PSEG’s and Power’s gains and losses attributable to changes in net derivative assets and liabilities include $6 million and $(58) million in Operating Income for the three months and six months ended June 30, 2014, respectively. The $6 million in Operating Income is unrealized. Of the $(58) million in Operating Income, $1 million is unrealized.
[3] Mainly includes gains/losses on PSE&G’s derivative contracts that are not included in either earnings or Other Comprehensive Income, as they are deferred as a Regulatory Asset/Liability and are expected to be recovered from/returned to PSE&G’s customers.
[4] Represents $(4) million and $(16) million in settlements for the three months and six months ended June 30, 2015. Includes $(1) million and $58 million in settlements for the three months and six months ended June 30, 2014.
[5] During the three months and six months ended June 30, 2014, $(3) million of net derivative assets/liabilities were transferred from Level 3 to Level 2 due to more observable pricing for the underlying securities. The transfers were recognized as of the beginning of the quarters in which the transfers first occurred as per PSEG's policy.