Financial Risk Management Activities (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure Financial Risk Management Activities [Abstract]

Schedule Of Derivative Transactions Designated And Effective As Cash Flow Hedges

As of December 31, 2015 and 2014, the fair value and the impact on Accumulated Other Comprehensive Income (Loss) associated with accounting hedge activity was as follows:

	As of December 31,
	2015		2014
	Millions
Fair Value of Cash Flow Hedges	$	—	$	18
Impact on Accumulated Other Comprehensive Income (Loss) (after tax)	$	—	$	10

Schedule Of Derivative Instruments Fair Value In Balance Sheets

The following tabular disclosure does not include the offsetting of trade receivables and payables.

	As of December 31, 2015
	Power (A)											PSE&G (A)			PSEG (A)		Consolidated
	Cash Flow Hedges		Not Designated									Not Designated			Fair Value Hedges
Balance Sheet Location	Energy- Related Contracts		Energy- Related Contracts			Netting (B)			Total Power			Energy- Related Contracts			Interest Rate Swaps		Total Derivatives
	Millions
Derivative Contracts
Current Assets	$	—	$	700		$	(477	)	$	223		$	13		$	6	$	242
Noncurrent Assets	—		208			(131		)	77			—			—		77
Total Mark-to-Market Derivative Assets	$	—	$	908		$	(608	)	$	300		$	13		$	6	$	319
Derivative Contracts
Current Liabilities	$	—	$	(513	)	$	437		$	(76	)	$	—		$	—	$	(76	)
Noncurrent Liabilities	—		(132		)	116			(16		)	(11		)	—		(27		)
Total Mark-to-Market Derivative (Liabilities)	$	—	$	(645	)	$	553		$	(92	)	$	(11	)	$	—	$	(103	)
Total Net Mark-to-Market Derivative Assets (Liabilities)	$	—	$	263		$	(55	)	$	208		$	2		$	6	$	216

	As of December 31, 2014
	Power (A)											PSE&G (A)		PSEG (A)		Consolidated
	Cash Flow Hedges		Not Designated									Not Designated		Fair Value Hedges
Balance Sheet Location	Energy- Related Contracts		Energy- Related Contracts			Netting (B)			Total Power			Energy- Related Contracts		Interest Rate Swaps		Total Derivatives
	Millions
Derivative Contracts
Current Assets	$	18	$	597		$	(408	)	$	207		$	18	$	15	$	240
Noncurrent Assets	—		171			(109		)	62			8		7		77
Total Mark-to-Market Derivative Assets	$	18	$	768		$	(517	)	$	269		$	26	$	22	$	317
Derivative Contracts
Current Liabilities	$	—	$	(568	)	$	436		$	(132	)	$	—	$	—	$	(132	)
Noncurrent Liabilities	—		(138		)	105			(33		)	—		—		(33		)
Total Mark-to-Market Derivative (Liabilities)	$	—	$	(706	)	$	541		$	(165	)	$	—	$	—	$	(165	)
Total Net Mark-to-Market Derivative Assets (Liabilities)	$	18	$	62		$	24		$	104		$	26	$	22	$	152

(A) Substantially all of Power's and PSEG's derivative instruments are contracts subject to master netting agreements. Contracts not subject to master netting or similar agreements are immaterial and did not have any collateral posted or received as of December 31, 2015 and 2014. PSE&G does not have any derivative contracts subject to master netting or similar agreements.

(B) Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. All cash collateral received or posted that has been allocated to derivative positions, where the right of offset exists, has been offset in the Consolidated Balance Sheets. As of December 31, 2015 and 2014, net cash collateral (received) paid of $(55) million and $24 million, respectively, were netted against the corresponding net derivative contract positions. Of the $(55) million as of December 31, 2015, $(53) million and $(16) million were netted against current assets and noncurrent assets, respectively, and $12 million and $2 million were netted against current liabilities and noncurrent liabilities, respectively. Of the $24 million as of December 31, 2014, cash collateral of $(4) million and $(8) million were netted against current assets and noncurrent assets, respectively, and $32 million and $4 million were netted against current liabilities and noncurrent liabilities, respectivel

Schedule Of Derivative Instruments Designated As Cash Flow Hedges

The following shows the effect on the Consolidated Statements of Operations and on Accumulated Other Comprehensive Income (AOCI) of derivative instruments designated as cash flow hedges for the years ended December 31, 2015, 2014 and 2013:

	Amount of Pre-Tax Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)							Location of Pre-Tax Gain (Loss) Reclassified from AOCI into Income	Amount of Pre-Tax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)								Amount of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)
Derivatives in Cash Flow Hedging Relationships	Years Ended December 31,								Years Ended December 31,								Years Ended December 31,
	2015		2014		2013				2015		2014			2013			2015		2014		2013
	Millions								Millions
PSEG
Energy-Related Contracts	$	3	$	12	$	(4	)	Operating Revenues	$	20	$	(9	)	$	13		$	—	$	—	$	(1	)
Interest Rate Swaps (A)	—		—		—			Interest Expense	—		—			(1		)	—		—		—
Total PSEG	$	3	$	12	$	(4	)		$	20	$	(9	)	$	12		$	—	$	—	$	(1	)
Power
Energy-Related Contracts	$	3	$	12	$	(4	)	Operating Revenues	$	20	$	(9	)	$	13		$	—	$	—	$	(1	)
Total Power	$	3	$	12	$	(4	)		$	20	$	(9	)	$	13		$	—	$	—	$	(1	)

(A) Includes amounts for PSEG parent.

Schedule Of Reconciliation For Derivative Activity Included In Accumulated Other Comprehensive Loss

The following reconciles the AOCI for derivative activity included in the Accumulated Other Comprehensive Loss of PSEG on a pre-tax and after-tax basis:

Accumulated Other Comprehensive Income	Pre-Tax			After-Tax
	Millions
Balance as of December 31, 2013	$	(4	)	$	(2	)
Gain Recognized in AOCI	12			7
Plus: Loss Reclassified into Income	9			5
Balance as of December 31, 2014	$	17		$	10
Gain Recognized in AOCI	3			2
Less: Gain Reclassified into Income	(20		)	(12		)
Balance as of December 31, 2015	$	—		$	—

Schedule Of Derivative Instruments Not Designated As Hedging Instruments And Impact On Results Of Operations

The following shows the effect on the Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as normal purchases and sales for the years ended December 31, 2015, 2014 and 2013:

Derivatives Not Designated as Hedges	Location of Pre-Tax Gain (Loss) Recognized in Income on Derivatives	Pre-Tax Gain (Loss) Recognized in Income on Derivatives
		Years Ended December 31,
		2015			2014			2013
		Millions
PSEG and Power
Energy-Related Contracts	Operating Revenues	$	412		$	(348	)	$	(128	)
Energy-Related Contracts	Energy Costs	(8		)	32			106
Total PSEG and Power		$	404		$	(316	)	$	(22	)

Schedule Of Gross Volume, On Absolute Value Basis For Derivative Contracts

The following reflects the gross volume, on an absolute value basis, of derivatives as of December 31, 2015 and 2014:

Type	Notional	Total	PSEG	Power	PSE&G
	Millions
As of December 31, 2015
Natural Gas	Dth	201	—	168	33
Electricity	MWh	299	—	299	—
Financial Transmission Rights (FTRs)	MWh	23	—	23	—
Interest Rate Swaps	U.S. Dollars	550	550	—	—
As of December 31, 2014
Natural Gas	Dth	274	—	216	58
Electricity	MWh	310	—	310	—
FTRs	MWh	15	—	15	—
Interest Rate Swaps	U.S. Dollars	850	850	—	—

Schedule Providing Credit Risk From Others, Net Of Collateral

.

The following table provides information on Power’s credit risk from others, net of cash collateral, as of December 31, 2015. It further delineates that exposure by the credit rating of the counterparties and provides guidance on the concentration of credit risk to individual counterparties and an indication of the quality of Power’s credit risk by credit rating of the counterparties.

Rating	Current Exposure		Securities held as Collateral		Net Exposure		Number of Counterparties >10%	Net Exposure of Counterparties >10%
	Millions							Millions
Investment Grade—External Rating	$	451	$	175	$	276	1	$	160	(A)
Non-Investment Grade—External Rating	24		—		24		—	—
Investment Grade—No External Rating	12		1		11		—	—
Non-Investment Grade—No External Rating	1		—		1		—	—
Total	$	488	$	176	$	312	1	$	160

(A) Represents net exposure with PSE&G.