Commitments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2015

The total future minimum payments under various operating leases as of December 31, 2015 are:




	PSE&G		Power		Services		Other		Total
	Millions
2016	$	12	$	2	$	13	$	2	$	29
2017	9		2		13		1		25
2018	8		2		13		1		24
2019	7		2		13		—		22
2020	6		3		13		—		22
Thereafter	66		33		146		—		245
Total Minimum Lease Payments	$	108	$	44	$	211	$	4	$	367

PSE&G [Member]

Other Commitments [Line Items]

Contract For Anticipated BGS-Fixed Price Eligible Load

The contract prices in dollars per MWh for the BGS-RSCP supply, as well as the approximate load, are as follows:




	Auction Year
	2013	2014	2015	2016
36-Month Terms Ending	May 2016	May 2017	May 2018	May 2019	(A)
Load (MW)	2,800	2,800	2,900	2,800
$ per MWh	$92.18	$97.39	$99.54	$96.38


(A)	Prices set in the 2016 BGS auction will become effective on June 1, 2016 when the 2013 BGS auction agreements expire.

Power [Member]

Other Commitments [Line Items]

Face Value Of Outstanding Guarantees, Current Exposure And Margin Positions

The face value of outstanding guarantees, current exposure and margin positions as of December 31, 2015 and 2014 are shown below:




	As of December 31, 2015			As of December 31, 2014
	Millions
Face Value of Outstanding Guarantees	$	1,734		$	1,814
Exposure under Current Guarantees	$	172		$	273

Letters of Credit Margin Posted	$	122		$	159
Letters of Credit Margin Received	$	192		$	40

Cash Deposited and Received
Counterparty Cash Margin Deposited	$	—		$	—
Counterparty Cash Margin Received	$	(15	)	$	(13	)
Net Broker Balance Deposited (Received)	$	(5	)	$	115

In the Event Power were to Lose its Investment Grade Rating
Additional Collateral that could be Required	$	864		$	945
Liquidity Available under PSEG’s and Power’s Credit Facilities to Post Collateral	$	3,215		$	3,495

Additional Amounts Posted
Other Letters of Credit	$	51		$	45

Total Minimum Purchase Commitments

As of December 31, 2015, the total minimum purchase requirements included in these commitments were as follows:




Fuel Type	Power's Share of Commitments through 2020
	Millions
Nuclear Fuel
Uranium	$	475
Enrichment	$	394
Fabrication	$	204
Natural Gas	$	1,023
Coal	$	300

Insurance coverages and maximum retrospective assessments for its nuclear operations

Power’s insurance coverages and maximum retrospective assessments for its nuclear operations are as follows:




Type and Source of Coverages	Total Site Coverage			Retrospective Assessments
	Millions
Public and Nuclear Worker Liability (Primary Layer):
ANI	$	375	(A)	$	—
Nuclear Liability (Excess Layer):
Price-Anderson Act	13,113		(B)	401
Nuclear Liability Total	$	13,488	(C)	$	401
Property Damage (Primary Layer):
NEIL Primary (Salem/Hope Creek and Peach Bottom)	$	1,500		$	46
Property Damage (Excess Layers)
NEIL Excess (Salem/Hope Creek and Peach Bottom)	600		(D)	6
Property Damage Total (Per Site)	$	2,100		$	52
Accidental Outage:
NEIL I (Peach Bottom)	$	245	(E)	$	8
NEIL I (Salem)	281		(E)	9
NEIL I (Hope Creek)	490		(E)	7
Replacement Power Total	$	1,016		$	24


(A)	The primary limit for Public Liability is a per site aggregate limit with no potential for assessment. The Nuclear Worker Liability represents the potential liability from third party workers claiming exposure to the nuclear energy hazard. This coverage is subject to an industry aggregate limit that is subject to reinstatement at ANI discretion.

(B)

Retrospective premium program under the Price-Anderson Act liability provisions of the Atomic Energy Act of 1954, as amended. Power is subject to retrospective assessment with respect to loss from an incident at any licensed nuclear reactor in the United States that produces greater than 100 MW of electrical power. This retrospective assessment can be adjusted for inflation every five years. The last adjustment was effective as of September 10, 2013. The next adjustment is due on or before September 10, 2018. This retrospective program is in excess of the Public and Nuclear Worker Liability primary layers.


(C)	Limit of liability under the Price-Anderson Act for each nuclear incident.

(D)

For nuclear event property limits in excess of $1.5 billion, Power participates in a $600 million nuclear event Blanket Limit Policy. The blanket limit policy is shared with Exelon Generation and covers the following facilities: Braidwood, Byron, Clinton, Dresden, La Salle, Limerick, Oyster Creek, Quad Cities, TMI-1 Peach Bottom, Salem and Hope Creek. This limit is not subject to reinstatement in the event of a loss. Participation in this program reduces Power’s premium and the associated potential assessment. In addition, for non-nuclear event limits in excess of $1.5 billion, Power maintains a $600 million limit shared by the Salem and Hope Creek facilities. Exelon maintains a $600 million non-nuclear event limit shared by Peach Bottom, Braidwood, Byron, Clinton, Dresden, LaSalle, Limerick, Oyster Creek, Quad Cities, and the TMI-1 facilities.

(E)

Peach Bottom 2 and 3 have an aggregate indemnity limit based on a weekly indemnity of $2.3 million for 52 weeks followed by 80% of the weekly indemnity for 68 weeks. Salem 1 and 2 have an aggregate indemnity limit based on a weekly indemnity of $2.5 million for 52 weeks followed by 80% of the weekly indemnity for 76 weeks. Hope Creek has an aggregate indemnity limit based on a weekly indemnity of $4.5 million for 52 weeks followed by 80% of the weekly indemnity for 71 weeks.