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Related-Party Transactions (Schedule Of Related Party Transactions, Receivables) (Detail) - PSEG Power [Member] - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Related Party Transaction [Line Items]    
Receivable from PSE&G [1] $ 163 $ 273
Receivable From PSEG [2] 0 44
Receivable From Other Affiliates 2 0
Accounts Receivable - Affiliated Companies 165 317
Payable To Services [3] 21 13
Accounts Payable - Affiliated Companies 199 13
Short Term Loan from Affiliate (121) [4] 0
Short-Term Loan to Affiliate 0 161 [4]
Working Capital Advances to Services [5] 17 17
Long-Term Accrued Taxes Payable 64 57
Payable to PSEG 178 0
Noncurrent Receivable from PSE&G [1] $ 10 $ 0
[1] 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
[2] 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.
[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] PSEG Power’s short-term loans with PSEG are for working capital and other short-term needs. Interest Income and Interest Expense relating to these short-term funding activities were immaterial.
[5] 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.