Accumulated Other Comprehensive Income (Loss), Net of Tax (Tables)

6 Months Ended

Jun. 30, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income by Component

PSEG	Three Months Ended June 30, 2021
Accumulated Other Comprehensive Income (Loss)	Cash Flow Hedges		Pension and OPEB Plans		Available-for-Sale Securities		Total
	Millions
Balance as of March 31, 2021	$	(8)	$	(542)	$	8	$	(542)
Other Comprehensive Income (Loss) before Reclassifications	—		—		16		16
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	—		4		—		4
Net Current Period Other Comprehensive Income (Loss)	—		4		16		20
Balance as of June 30, 2021	$	(8)	$	(538)	$	24	$	(522)
PSEG	Three Months Ended June 30, 2020
Accumulated Other Comprehensive Income (Loss)	Cash Flow Hedges		Pension and OPEB Plans		Available-for-Sale Securities		Total
	Millions
Balance as of March 31, 2020	$	(18)	$	(496)	$	33	$	(481)
Other Comprehensive Income (Loss) before Reclassifications	—		—		30		30
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	3		3		(10)		(4)
Net Current Period Other Comprehensive Income (Loss)	3		3		20		26
Balance as of June 30, 2020	$	(15)	$	(493)	$	53	$	(455)
PSEG	Six Months Ended June 30, 2021
Accumulated Other Comprehensive Income (Loss)	Cash Flow Hedges		Pension and OPEB Plans		Available-for-Sale Securities		Total
	Millions
Balance as of December 31, 2020	$	(9)	$	(545)	$	50	$	(504)
Other Comprehensive Income (Loss) before Reclassifications	—		—		(24)		(24)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	1		7		(2)		6
Net Current Period Other Comprehensive Income (Loss)	1		7		(26)		(18)
Balance as of June 30, 2021	$	(8)	$	(538)	$	24	$	(522)
PSEG	Six Months Ended June 30, 2020
Accumulated Other Comprehensive Income (Loss)	Cash Flow Hedges		Pension and OPEB Plans		Available-for-Sale Securities		Total
	Millions
Balance as of December 31, 2019	$	(15)	$	(499)	$	25	$	(489)
Other Comprehensive Income (Loss) before Reclassifications	(4)		—		44		40
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	4		6		(16)		(6)
Net Current Period Other Comprehensive Income (Loss)	—		6		28		34
Balance as of June 30, 2020	$	(15)	$	(493)	$	53	$	(455)

PSEG Power	Three Months Ended June 30, 2021
Accumulated Other Comprehensive Income (Loss)	Cash Flow Hedges		Pension and OPEB Plans		Available-for-Sale Securities		Total
	Millions
Balance as of March 31, 2021	$	—	$	(457)	$	8	$	(449)
Other Comprehensive Income (Loss) before Reclassifications	—		—		13		13
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	—		3		(1)		2
Net Current Period Other Comprehensive Income (Loss)	—		3		12		15
Balance as of June 30, 2021	$	—	$	(454)	$	20	$	(434)
PSEG Power	Three Months Ended June 30, 2020
Accumulated Other Comprehensive Income (Loss)	Cash Flow Hedges		Pension and OPEB Plans		Available-for-Sale Securities		Total
	Millions
Balance as of March 31, 2020	$	—	$	(418)	$	26	$	(392)
Other Comprehensive Income (Loss) before Reclassifications	—		—		24		24
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	—		3		(9)		(6)
Net Current Period Other Comprehensive Income (Loss)	—		3		15		18
Balance as of June 30, 2020	$	—	$	(415)	$	41	$	(374)
PSEG Power	Six Months Ended June 30, 2021
Accumulated Other Comprehensive Income (Loss)	Cash Flow Hedges		Pension and OPEB Plans		Available-for-Sale Securities		Total
	Millions
Balance as of December 31, 2020	$	—	$	(459)	$	40	$	(419)
Other Comprehensive Income (Loss) before Reclassifications	—		—		(18)		(18)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	—		5		(2)		3
Net Current Period Other Comprehensive Income (Loss)	—		5		(20)		(15)
Balance as of June 30, 2021	$	—	$	(454)	$	20	$	(434)
PSEG Power	Six Months Ended June 30, 2020
Accumulated Other Comprehensive Income (Loss)	Cash Flow Hedges		Pension and OPEB Plans		Available-for-Sale Securities		Total
	Millions
Balance as of December 31, 2019	$	—	$	(420)	$	19	$	(401)
Other Comprehensive Income (Loss) before Reclassifications	—		—		35		35
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	—		5		(13)		(8)
Net Current Period Other Comprehensive Income (Loss)	—		5		22		27
Balance as of June 30, 2020	$	—	$	(415)	$	41	$	(374)

Reclassifications out of Accumulated Other Comprehensive Income

PSEG		Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement
		Three Months Ended						Six Months Ended
Description of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	Location of Pre-Tax Amount In Statement of Operations	June 30, 2021						June 30, 2021
		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
		Millions
Cash Flow Hedges
Interest Rate Swaps	Interest Expense	$	(1)	$	1	$	—	$	(2)	$	1	$	(1)
Total Cash Flow Hedges		(1)		1		—		(2)		1		(1)
Pension and OPEB Plans
Amortization of Prior Service (Cost) Credit	Non-Operating Pension and OPEB Credits (Costs)	6		(2)		4		11		(3)		8
Amortization of Actuarial Loss	Non-Operating Pension and OPEB Credits (Costs)	(11)		3		(8)		(21)		6		(15)
Total Pension and OPEB Plans		(5)		1		(4)		(10)		3		(7)
Available-for-Sale Debt Securities
Realized Gains (Losses)	Net Gains (Losses) on Trust Investments	1		(1)		—		4		(2)		2
Total Available-for-Sale Debt Securities		1		(1)		—		4		(2)		2
Total		$	(5)	$	1	$	(4)	$	(8)	$	2	$	(6)

PSEG		Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement
		Three Months Ended						Six Months Ended
Description of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	Location of Pre-Tax Amount In Statement of Operations	June 30, 2020						June 30, 2020
		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
		Millions
Cash Flow Hedges
Interest Rate Swaps	Interest Expense	$	(4)	$	1	$	(3)	$	(6)	$	2	$	(4)
Total Cash Flow Hedges		(4)		1		(3)		(6)		2		(4)
Pension and OPEB Plans
Amortization of Prior Service (Cost) Credit	Non-Operating Pension and OPEB Credits (Costs)	6		(1)		5		12		(3)		9
Amortization of Actuarial Loss	Non-Operating Pension and OPEB Credits (Costs)	(10)		2		(8)		(20)		5		(15)
Total Pension and OPEB Plans		(4)		1		(3)		(8)		2		(6)
Available-for-Sale Debt Securities
Realized Gains (Losses) and Impairments	Net Gains (Losses) on Trust Investments	17		(7)		10		26		(10)		16
Total Available-for-Sale Debt Securities		17		(7)		10		26		(10)		16
Total		$	9	$	(5)	$	4	$	12	$	(6)	$	6

PSEG Power		Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement
		Three Months Ended						Six Months Ended
Description of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	Location of Pre-Tax Amount In Statement of Operations	June 30, 2021						June 30, 2021
		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
		Millions
Pension and OPEB Plans
Amortization of Prior Service (Cost) Credit	Non-Operating Pension and OPEB Credits (Costs)	$	5	$	(2)	$	3	$	10	$	(3)	$	7
Amortization of Actuarial Loss	Non-Operating Pension and OPEB Credits (Costs)	(9)		3		(6)		(17)		5		(12)
Total Pension and OPEB Plans		(4)		1		(3)		(7)		2		(5)
Available-for-Sale Debt Securities
Realized Gains (Losses)	Net Gains (Losses) on Trust Investments	1		—		1		3		(1)		2
Total Available-for-Sale Debt Securities		1		—		1		3		(1)		2
Total		$	(3)	$	1	$	(2)	$	(4)	$	1	$	(3)

PSEG Power		Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement
		Three Months Ended						Six Months Ended
Description of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	Location of Pre-Tax Amount In Statement of Operations	June 30, 2020						June 30, 2020
		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
		Millions
Pension and OPEB Plans
Amortization of Prior Service (Cost) Credit	Non-Operating Pension and OPEB Credits (Costs)	$	6	$	(2)	$	4	$	11	$	(3)	$	8
Amortization of Actuarial Loss	Non-Operating Pension and OPEB Credits (Costs)	(9)		2		(7)		(17)		4		(13)
Total Pension and OPEB Plans		(3)		—		(3)		(6)		1		(5)
Available-for-Sale Debt Securities
Realized Gains (Losses) and Impairments	Net Gains (Losses) on Trust Investments	14		(5)		9		21		(8)		13
Total Available-for-Sale Debt Securities		14		(5)		9		21		(8)		13
Total		$	11	$	(5)	$	6	$	15	$	(7)	$	8