Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease, Cost

The following amounts relate to total operating lease costs, including both amounts recognized in the Consolidated Statements of Operations during the years ended December 31, 2020 and 2019 and any amounts capitalized as part of the cost of another asset, and the cash flows arising from lease transactions.

	PSE&G			PSEG Power			Other			Total
	Millions
Operating Lease Costs
Year Ended December 31, 2020
Long-term Lease Costs	$	26		$	14		$	14		$	54
Short-term Lease Costs	38			7			—			45
Variable Lease Costs	2			20			9			31
Total Operating Lease Costs	$	66		$	41		$	23		$	130
Year Ended December 31, 2020
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	17		$	14		$	14		$	45
Weighted Average Remaining Lease Term in Years	12			14			10			11
Weighted Average Discount Rate	3.5		%	4.5		%	4.2		%	4.0		%

	PSE&G			PSEG Power			Other			Total
	Millions
Operating Lease Costs
Year Ended December 31, 2019
Long-term Lease Costs	$	24		$	13		$	15		$	52
Short-term Lease Costs	14			10			—			24
Variable Lease Costs	2			10			10			22
Total Operating Lease Costs	$	40		$	33		$	25		$	98
Year Ended December 31, 2019
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$	16		$	11		$	15		$	42
Weighted Average Remaining Lease Term in Years	13			14			10			12
Weighted Average Discount Rate	3.6		%	4.4		%	4.2		%	4.1		%

Lessee, Operating Lease, Liability, Maturity

Operating lease liabilities as of December 31, 2020 had the following maturities on an undiscounted basis:

	PSE&G		PSEG Power		Other		Total
	Millions
2021	$	16	$	14	$	15	$	45
2022	13		14		15		42
2023	11		8		15		34
2024	10		3		15		28
2025	8		3		15		26
Thereafter	69		47		75		191
Total Minimum Lease Payments	$	127	$	89	$	150	$	366

The following is a reconciliation of the undiscounted cash flows to the discounted Operating Lease Liabilities recognized on the Consolidated Balance Sheets:

	As of December 31, 2020
	PSE&G		PSEG Power		Other		Total
	Millions
Undiscounted Cash Flows	$	127	$	89	$	150	$	366
Reconciling Amount due to Discount Rate	(26)		(27)		(27)		(80)
Total Discounted Operating Lease Liabilities	$	101	$	62	$	123	$	286
	As of December 31, 2019
	PSE&G		PSEG Power		Other		Total
	Millions
Undiscounted Cash Flows	$	126	$	100	$	168	$	394
Reconciling Amount due to Discount Rate	(27)		(28)		(33)		(88)
Total Discounted Operating Lease Liabilities	$	99	$	72	$	135	$	306

Operating Lease, Lease Income

The following is the operating lease income for PSEG Power and Energy Holdings for the years ended December 31, 2020 and 2019:

	PSEG Power		Energy Holdings		Total
	Millions
Operating Lease Income
Year Ended December 31, 2020
Fixed Lease Income	$	—	$	15	$	15
Variable Lease Income	26		—		26
Total Operating Lease Income	$	26	$	15	$	41
Year Ended December 31, 2019
Fixed Lease Income	$	—	$	22	$	22
Variable Lease Income	23		—		23
Total Operating Lease Income	$	23	$	22	$	45

Lessor, Operating Lease, Payments to be Received, Maturity

Energy Holdings’ operating leases had the following minimum future fixed lease receipts as of December 31, 2020:

	Millions
2021	$	14
2022	14
2023	14
2024	14
2025	14
Thereafter	227
Total Minimum Future Lease Receipts	$	297