Debt and Credit Facilities

Short-Term Liquidity

PSEG meets its short-term liquidity requirements, as well as those of Power, primarily with cash and through the issuance of commercial paper. PSE&G maintains its own separate commercial paper program to meet its short-term liquidity requirements. Each commercial paper program is fully back-stopped by its own separate credit facilities.

In March 2017, PSEG, Power and PSE&G amended their credit agreements, extending the expiration dates to March 2022. Concurrently, PSEG increased its existing $1 billion in credit facilities to $1.5 billion, Power decreased its existing $2.6 billion in credit facilities to $2.1 billion, which includes two new 3-year $100 million letter of credit facilities that expire in March 2020.

The commitments under the $4.2 billion credit facilities are provided by a diverse bank group. As of March 31, 2017, the total available credit capacity was $3.6 billion.

As of March 31, 2017, no single institution represented more than 8% of the total commitments in the credit facilities.

As of March 31, 2017, the total credit capacity was in excess of its anticipated maximum liquidity requirements.

Each of the credit facilities is restricted as to availability and use to the specific companies as listed in the following table; however, if necessary, the PSEG facilities can also be used to support its subsidiaries’ liquidity needs. The total credit facilities and available liquidity as of March 31, 2017 were as follows:




	As of March 31, 2017
Company/Facility	Total Facility		Usage		Available Liquidity		Expiration Date	Primary Purpose
	Millions
PSEG
5-year Credit Facilities (A)	$	1,500	$	332	$	1,168	Mar 2022	Commercial Paper Support/Funding/Letters of Credit
Total PSEG	$	1,500	$	332	$	1,168
PSE&G
5-year Credit Facility (A)	$	600	$	14	$	586	Mar 2022	Commercial Paper Support/Funding/Letters of Credit
Total PSE&G	$	600	$	14	$	586
Power
3-year LC Facilities	$	200	$	137	$	63	Mar 2020	Letters of Credit
5-year Credit Facilities	1,900		98		1,802		Mar 2022	Funding/Letters of Credit
Total Power	$	2,100	$	235	$	1,865
Total	$	4,200	$	581	$	3,619

(A)The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs,

under which as of March 31, 2017, PSEG had $315 million outstanding at a weighted average interest rate of 1.25%. As of March 31, 2017, PSE&G had no amounts outstanding under its Commercial Paper Program.

Debt Instrument [Line Items]