Financial Risk Management Activities (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule Of Derivative Instruments Fair Value In Balance Sheets




	As of June 30, 2016 (A)
	Power									PSE&G			PSEG			Consolidated
	Not Designated									Not Designated			Designated as Hedges
Balance Sheet Location	Energy- Related Contracts			Netting (B)			Total Power			Energy- Related Contracts			Interest Rate Swaps			Total Derivatives
	Millions
Derivative Contracts
Current Assets	$	460		$	(310	)	$	150		$	—		$	2		$	152
Noncurrent Assets	264			(188		)	76			—			—			76
Total Mark-to-Market Derivative Assets	$	724		$	(498	)	$	226		$	—		$	2		$	228
Derivative Contracts
Current Liabilities	$	(334	)	$	317		$	(17	)	$	(2	)	$	(1	)	$	(20	)
Noncurrent Liabilities	(203		)	189			(14		)	—			—			(14		)
Total Mark-to-Market Derivative (Liabilities)	$	(537	)	$	506		$	(31	)	$	(2	)	$	(1	)	$	(34	)
Total Net Mark-to-Market Derivative Assets (Liabilities)	$	187		$	8		$	195		$	(2	)	$	1		$	194




	As of December 31, 2015 (A)
	Power									PSE&G			PSEG		Consolidated
	Not Designated									Not Designated			Designated as Hedges
Balance Sheet Location	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


(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 June 30, 2016 and December 31, 2015. 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 on the Condensed Consolidated Balance Sheets. As of June 30, 2016 and December 31, 2015, net cash collateral (received) paid of $8 million and $(55) million, respectively, were netted against the corresponding net derivative contract positions. Of the $8 million as of June 30, 2016, $(2) million of cash collateral was netted against current assets, and $10 million was netted against current liabilities. 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.

Schedule Of Derivative Instruments Designated As Cash Flow Hedges

The following shows the effect on the Condensed Consolidated Statements of Operations and on Accumulated Other Comprehensive Income (AOCI) of derivative instruments designated as cash flow hedges for the three months ended June 30, 2016 and 2015.




Derivatives in Cash Flow Hedging Relationships	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)				Location of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)	Amount of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)
	Three Months Ended						Three Months Ended					Three Months Ended
	June 30,						June 30,					June 30,
	2016			2015			2016		2015			2016		2015
	Millions
PSEG
Energy-Related Contracts	$	—		$	—	Operating Revenues	$	—	$	—	Operating Revenues	$	—	$	—
Interest Rate Swaps	(1		)	—		Interest Expense	—		—		Interest Expense	—		—
Total PSEG	$	(1	)	$	—		$	—	$	—		$	—	$	—
Power
Energy-Related Contracts	$	—		$	—	Operating Revenues	$	—	$	—	Operating Revenues	$	—	$	—
Total Power	$	—		$	—		$	—	$	—		$	—	$	—




Derivatives in Cash Flow Hedging Relationships	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)				Location of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)	Amount of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion)
	Six Months Ended					Six Months Ended					Six Months Ended
	June 30,					June 30,					June 30,
	2016		2015			2016		2015			2016		2015
	Millions
PSEG
Energy-Related Contracts	$	—	$	1	Operating Revenues	$	—	$	17	Operating Revenues	$	—	$	—
Interest Rate Swaps	2		—		Interest Expense	—		—		Interest Expense	—		—
Total PSEG	$	2	$	1		$	—	$	17		$	—	$	—
Power
Energy-Related Contracts	$	—	$	1	Operating Revenues	$	—	$	17	Operating Revenues	$	—	$	—
Total Power	$	—	$	1		$	—	$	17		$	—	$	—

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The following reconciles the Accumulated Other Comprehensive Income 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, 2014	$	17			$	10
Gain Recognized in AOCI	3				2
Less: Gain Reclassified into Income	(20		)		(12		)
Balance as of December 31, 2015	$	—			$	—
Gain Recognized in AOCI	3			—	2
Less: Gain Reclassified into Income	—				—
Balance as of March 31, 2016	$	3			$	2
Loss Recognized in AOCI	(1		)		(1		)
Less: Gain Reclassified into Income	—				—
Balance as of June 30, 2016	$	2			$	1

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

The following shows the effect on the Condensed Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as NPNS, such as its BGS contracts and certain other energy supply contracts, for the three months and six months ended June 30, 2016 and 2015. Power's derivative contracts reflected in these tables include contracts to hedge the purchase and sale of electricity and natural gas, and the purchase of fuel.




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
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2016			2015			2016		2015
		Millions
PSEG and Power
Energy-Related Contracts	Operating Revenues	$	(86	)	$	124		$	130	$	48
Energy-Related Contracts	Energy Costs	6			(10		)	8		—
Total PSEG and Power		$	(80	)	$	114		$	138	$	48

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 June 30, 2016 and December 31, 2015.




Type	Notional	Total	PSEG	Power	PSE&G
		Millions
As of June 30, 2016
Natural Gas	Dekatherm (Dth)	347	—	327	20
Electricity	MWh	326	—	326	—
Financial Transmission Rights (FTRs)	MWh	21	—	21	—
Interest Rate Swaps	U.S. Dollars	1,050	1,050	—	—
As of December 31, 2015
Natural Gas	Dth	201	—	168	33
Electricity	MWh	299	—	299	—
FTRs	MWh	23	—	23	—
Interest Rate Swaps	U.S. Dollars	550	550	—	—

Power [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule Providing Credit Risk From Others, Net Of Collateral

The following table provides information on Power’s credit risk from others, net of collateral, as of June 30, 2016. 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	$	334	$	129	$	205	2	$	125	(A)
Non-Investment Grade—External Rating	20		—		20		—	—
Investment Grade—No External Rating	8		1		7		—	—
Non-Investment Grade—No External Rating	3		—		3		—	—
Total	$	365	$	130	$	235	2	$	125


(A)	Represents net exposure of $94 million with PSE&G. The remaining net exposure of $31 million is with a non-affiliated power purchaser which is an investment grade counterparty.