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Related-Party Transactions (Schedule Of Related Party Transactions, Payables) (Detail) - Public Service Electric and Gas Company [Member] - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Related Party Transaction [Line Items]    
Receivable From PSEG [1] $ 0 $ 1
Payable To PSEG Power [2] 284 307
Payable To Services [3] 68 83
Payable to PSEG [1] 51 0
Accounts Payable - Affiliated Companies 403 390
Working Capital Advances to Services [4] 33 33
Long-Term Accrued Taxes Payable $ 114 $ 115
[1]
PSEG files a consolidated federal income tax return with its affiliated companies. A tax allocation agreement exists between PSEG and each of its affiliated companies. The general operation of these agreements is that the subsidiary company will compute its taxable income on a stand-alone basis. If the result is a net tax liability, such amount shall be paid to PSEG. If there are NOLs and/or tax credits, the subsidiary shall receive payment for the tax savings from PSEG to the extent that PSEG is able to utilize those benefits.
[2] PSE&G has entered into a requirements contract with PSEG Power under which PSEG Power provides the gas supply services needed to meet PSE&G’s BGSS and other contractual requirements. PSEG Power has also entered into contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process and sells ZECs to PSE&G under the ZEC program. The rates in the BGS and BGSS contracts and for the ZEC sales are prescribed by the BPU. BGS and BGSS sales are billed and settled on a monthly basis. ZEC sales are billed on a monthly basis and settled annually following completion of each energy year. In addition, PSEG Power and PSE&G provide certain technical services for each other generally at cost in compliance with FERC and BPU affiliate rules
[3]
Services provides and bills administrative services to PSE&G and PSEG Power at cost. In addition, PSE&G and PSEG Power have other payables to Services, including amounts related to certain common costs, which Services pays on behalf of each of the operating companies.
[4]
PSE&G and PSEG Power have advanced working capital to Services. The amounts are included in Other Noncurrent Assets on PSE&G’s and PSEG Power’s Condensed Consolidated Balance Sheets.