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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 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Settlements $ (2) $ (4) $ (18) $ 54
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 4 (8) 12 (66)
Gains and losses attributable to changes in net derivative assets and liabilities, unrealized 3 (12) (6) (11)
Net Derivative Assets (Liabilities) [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance 8 13 37 88
Included in Income 4 [1] (8) [1] 12 [1] (66) [2]
Included in Regulatory Assets/Liabilities [3] (8) (9) (29) (81)
Purchases, (Sales) 0 0 0 0
Issuances (Settlements) [4] (2) (4) (18) 54
Transfers In (Out) 0 [5] 0 [5] 0 (3) [5]
Closing Balance 2 (8) 2 (8)
Net Derivative Assets (Liabilities) [Member] | Power [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance 3 (9) 11 (6)
Included in Income 4 [1] (8) [1] 12 [1] (66) [2]
Included in Regulatory Assets/Liabilities [3] 0 0 0 0
Purchases, (Sales) 0 0 0 0
Issuances (Settlements) [4] (2) (4) (18) 54
Transfers In (Out) 0 [5] 0 [5] 0 (3) [5]
Closing Balance 5 (21) 5 (21)
Net Derivative Assets (Liabilities) [Member] | PSE And G [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Opening Balance 5 22 26 94
Included in Income 0 [1] 0 [1] 0 [1] 0 [2]
Included in Regulatory Assets/Liabilities [3] (8) (9) (29) (81)
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 $ (3) $ 13 $ (3) $ 13
[1] PSEG’s and Power’s gains and losses attributable to changes in net derivative assets and liabilities includes $4 million and $12 million in Operating Income for the three months and nine months ended September 30, 2015, respectively. Of the $4 million in Operating Income, $3 million is unrealized. Of the $12 million in Operating Income, $(6) million is unrealized.
[2] PSEG’s and Power’s gains and losses attributable to changes in net derivative assets and liabilities include $(8) million and $(66) million in Operating Income for the three months and nine months ended September 30, 2014, respectively. Of the $(8) million in Operating Income, $(12) million is unrealized. Of the $(66) million in Operating Income, $(11) 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 $(2) million and $(18) million in settlements for the three months and nine months ended September 30, 2015. Includes $(4) million and $54 million in settlements for the three months and nine months ended September 30, 2014.
[5] nine months ended September 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.