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Fair Value Measurements (Fair Value Of Debt) (Detail) - USD ($)
$ in Millions
Jun. 30, 2019
Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-Term Debt, Carrying Amount $ 15,357 $ 14,462
Long-Term Debt, Fair Value 16,685 14,767
Power - Recourse Debt [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-Term Debt, Carrying Amount [1] 2,837 2,835
Long-Term Debt, Fair Value [1] 3,133 2,996
Public Service Electric and Gas Company [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-Term Debt, Carrying Amount [1] 9,680 9,184
Long-Term Debt, Fair Value [1] 10,697 9,374
PSEG [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-Term Debt, Carrying Amount [1],[2] 2,840 2,443
Long-Term Debt, Fair Value [1],[2] 2,855 2,397
Variable Rate [Domain] | PSEG [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Floating Rate Term Loan $ 700 $ 1,050
[1] Given that these bonds do not trade actively, the fair value amounts of taxable debt securities (primarily Level 2 measurements) are generally determined by a valuation model that is based on a conventional discounted cash flow methodology and utilizes assumptions of current market pricing curves. In order to incorporate the credit risk into the discount rates, pricing (i.e. U.S. Treasury rate plus credit spread) is based on expected new issue pricing across each of the companies’ respective debt maturity spectrum. The credit spreads of various tenors obtained from this information are added to the appropriate benchmark U.S. Treasury rates in order to determine the current market yields for the various tenors. The yields are then converted into discount rates of various tenors that are used for discounting the respective cash flows of the same tenor for each bond or note. The fair value amounts above do not represent the price at which the outstanding debt may be called for redemption by each issuer under their respective debt agreements.
[2]
As of June 30, 2019 and December 31, 2018, includes floating rate term loans of $700 million and $1,050 million, respectively. The fair values of the term loan debt (Level 2 measurement) approximate the carrying value because the interest payments are based on LIBOR rates that are reset monthly and the debt is redeemable at face value by PSEG at any time.