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Debt and Credit Facilities Debt and Credit Facilities (Tables)
 6 Months Ended
Jun. 30, 2020
Debt and Credit Facilities [Abstract]  
Schedule of Line of Credit Facilities [Table Text Block]
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 June 30, 2020 were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of June 30, 2020
 
 
 
 
 
 
Company/Facility
 
Total
Facility
 
Usage (D)
 
Available
Liquidity
 
Expiration
Date
 
Primary Purpose
 
 
 
 
Millions
 
 
 
 
 
 
PSEG
 
 
 
 
 
 
 
 
 
 
 
 
  5-year Credit Facilities (A)
 
$
1,500

 
$
408

 
$
1,092

 
Mar 2024
 
Commercial Paper Support/Funding/Letters of Credit
 
 
Total PSEG
 
$
1,500

 
$
408

 
$
1,092

 
 
 
 
 
 
PSE&G
 
 
 
 
 
 
 
 
 
 
 
 
  5-year Credit Facility (B)
 
$
600

 
$
17

 
$
583

 
Mar 2024
 
Commercial Paper Support/Funding/Letters of Credit
 
 
Total PSE&G
 
$
600

 
$
17

 
$
583

 
 
 
 
 
 
PSEG Power
 
 
 
 
 
 
 
 
 
 
 
 
  3-year Letter of Credit Facilities
 
$
200

 
$
96

 
$
104

 
Sept 2021
 
Letters of Credit
 
 
  5-year Credit Facilities (C)
 
1,900

 
40

 
1,860

 
Mar 2024
 
Funding/Letters of Credit
 
 
Total PSEG Power
 
$
2,100

 
$
136

 
$
1,964

 
 
 
 
 
 
Total
 
$
4,200

 
$
561

 
$
3,639

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(A)
PSEG facilities will be reduced by $9 million in March 2022.
(B)
PSE&G facility will be reduced by $4 million in March 2022.
(C)
PSEG Power facilities will be reduced by $12 million in March 2022.
(D)
The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs, under which as of June 30, 2020, PSEG had $365 million outstanding at a weighted average interest rate of 0.4%. PSE&G had no commercial paper outstanding under its Commercial Paper Program as of June 30, 2020.
Except as otherwise noted in the table above, in March 2020, PSEG, PSE&G and PSEG Power and their respective lenders agreed to extend the expiration dates on their credit agreements from March 2023 to March 2024.
Short-Term Loans
PSEG
In March 2020, PSEG entered into a $300 million, 364-day variable rate term loan agreement and in April 2020 it entered into two 364-day variable rate term loan agreements for $200 million and $300 million.