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Financial Risk Management Activities (Schedule Of Derivative Instruments Fair Value In Balance Sheets) (Detail) - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
Derivatives, Fair Value [Line Items]    
Net Cash Collateral/Margin Postings to Counterparties $ 44 $ 393
Derivative, Fair Value, Amount Offset Against Collateral, Net (2) 153
Derivative Contracts, Current Assets 113 11
Derivative Contracts, Noncurrent Assets 24 1
Total Mark-to-Market Derivative Assets 137 12
Derivative Contracts, Current Liabilities (36) (11)
Derivative Contracts, Noncurrent Liabilities (1) (4)
Total Mark-to-Market Derivative (Liabilities) (37) (15)
Net Mark-to-Market Derivative Assets (Liabilities) 100 (3)
PSEG Power LLC    
Derivatives, Fair Value [Line Items]    
Derivative Contracts, Current Assets [1] 113 11
Derivative Contracts, Noncurrent Assets [1] 24 1
Total Mark-to-Market Derivative Assets [1] 137 12
Derivative Contracts, Current Liabilities [1] (31) (11)
Derivative Contracts, Noncurrent Liabilities [1] (1) (4)
Total Mark-to-Market Derivative (Liabilities) [1] (32) (15)
Net Mark-to-Market Derivative Assets (Liabilities) [1] 105 (3)
Current Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net (1) (2)
Current Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net   96
Noncurrent Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net   62
Noncurrent Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net (1) (3)
Interest Rate Swaps [Member] | PSEG [Member] | Fair Value Hedging [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Contracts, Current Assets [1] 0  
Derivative Contracts, Noncurrent Assets [1] 0  
Total Mark-to-Market Derivative Assets [1] 0  
Derivative Contracts, Current Liabilities [1] (5)  
Derivative Contracts, Noncurrent Liabilities [1] 0  
Total Mark-to-Market Derivative (Liabilities) [1] (5)  
Net Mark-to-Market Derivative Assets (Liabilities) [1] (5)  
Interest Rate Swaps [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [2],[3] 0  
Energy-Related Contracts [Member] | PSEG Power LLC    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[4] (2) 153
Energy-Related Contracts [Member] | Not Designated as Hedging Instrument [Member] | PSEG Power LLC    
Derivatives, Fair Value [Line Items]    
Derivative Contracts, Current Assets [1] 636 426
Derivative Contracts, Noncurrent Assets [1] 163 137
Total Mark-to-Market Derivative Assets [1] 799 563
Derivative Contracts, Current Liabilities [1] (553) (521)
Derivative Contracts, Noncurrent Liabilities [1] (139) (198)
Total Mark-to-Market Derivative (Liabilities) [1] (692) (719)
Net Mark-to-Market Derivative Assets (Liabilities) [1] 107 (156)
Energy-Related Contracts [Member] | Current Assets [Member] | PSEG Power LLC    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[4] (523) (415)
Energy-Related Contracts [Member] | Current Liabilities [Member] | PSEG Power LLC    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[4] 522 510
Energy-Related Contracts [Member] | Noncurrent Liabilities [Member] | PSEG Power LLC    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[4] 138 194
Energy-Related Contracts [Member] | Noncurrent Assets [Member] | PSEG Power LLC    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[4] (139) (136)
Energy-Related Contracts [Member] | Assets [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [3],[5] (662) (551)
Energy-Related Contracts [Member] | Assets [Member] | PSEG Power LLC    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[3],[4] (662) [5] (551) [6]
Energy-Related Contracts [Member] | Other Liabilities [Member]    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [3],[5] 660 704
Energy-Related Contracts [Member] | Other Liabilities [Member] | PSEG Power LLC    
Derivatives, Fair Value [Line Items]    
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[3],[4],[5] $ 660 $ 704
[1]
Substantially all of PSEG 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, 2019 and 2018.
[2]
Interest rate swaps are valued using quoted prices on commonly quoted intervals, which are interpolated for periods different than the quoted intervals, as inputs to a market valuation model. Market inputs can generally be verified and model selection does not involve significant management judgment.
[3]
Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. See Note 18. Financial Risk Management Activities for additional detail.
[4]
Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of cash collateral. All cash collateral (received) posted that has been allocated to derivative positions, where the right of offset exists, has been offset on the Consolidated Balance Sheets. As of December 31, 2019 and 2018, PSEG Power had net cash collateral payments to counterparties of $44 million and $393 million, respectively. Of these net cash collateral (receipts) payments, $(2) million as of December 31, 2019 and $153 million as of December 31, 2018 were netted against the corresponding net derivative contract positions. Of the $(2) million as of December 31, 2019, $(1) million was netted against current assets, and $(1) million was netted against noncurrent assets. Of the $153 million as of December 31, 2018, $(2) million was netted against current assets, $(3) million was netted against noncurrent assets, $96 million was netted against current liabilities and $62 million was netted against noncurrent liabilities.
[5]
Level 1—These contracts represent natural gas futures contracts executed on NYMEX, and are being valued solely
on settled pricing inputs which come directly from the exchange.
Level 2—Fair values for energy-related contracts are obtained primarily using a market-based approach. Most derivative contracts (forward purchase or sale contracts and swaps) are valued using settled prices from similar assets and liabilities from an exchange, such as NYMEX, ICE and Nodal Exchange, or auction prices. Prices used in the valuation process are also corroborated independently by management to determine that values are based on actual transaction data or, in the absence of transactions, bid and offers for the day. Examples may include certain exchange and non-exchange traded capacity and electricity contracts and natural gas physical or swap contracts based on market prices, basis adjustments and other premiums where adjustments and premiums are not considered significant to the overall inputs.
Level 3—Unobservable inputs are used for the valuation of certain contracts. See “Additional Information Regarding Level 3 Measurements” below for more information on the utilization of unobservable inputs.
[6]
Represents money market mutual funds.