Pension and OPEB (Tables)

3 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Components Of Net Periodic Benefit Cost

The following table provides the components of net periodic benefit costs (credits) relating to all qualified and nonqualified pension and OPEB plans on an aggregate basis for PSEG, excluding Servco. Net periodic benefit costs are reduced in 2023 as a result of an accounting order from the BPU authorizing PSE&G to modify its method for calculating the amortization of the net actuarial gain or loss component of pension expense for rate making purposes. See Note 5. Rate Filings. Amounts shown do not reflect the impacts of capitalization, co-owner allocations and the 2023 BPU accounting order. Only the service cost component is eligible for capitalization, when applicable.

	Pension Benefits				OPEB
	Three Months Ended				Three Months Ended
	March 31,				March 31,
	2023		2022		2023		2022
	Millions
Components of Net Periodic Benefit (Credits) Costs
Service Cost (included in O&M Expense)	$	22	$	35	$	1	$	2
Non-Service Components of Pension and OPEB (Credits) Costs
Interest Cost	69		42		10		6
Expected Return on Plan Assets	(95)		(121)		(8)		(11)
Amortization of Net
Prior Service Credit	—		—		(13)		(32)
Actuarial Loss	24		15		(1)		4
Non-Service Components of Pension and OPEB (Credits) Costs	(2)		(64)		(12)		(33)
Total Benefit (Credits) Costs	$	20	$	(29)	$	(11)	$	(31)

Schedule Of Pension And OPEB Costs

Pension and OPEB (credits) costs for PSE&G and PSEG Power & Other are detailed as follows:

	Pension Benefits				OPEB
	Three Months Ended				Three Months Ended
	March 31,				March 31,
	2023		2022		2023		2022
	Millions
PSE&G	$	13	$	(18)	$	(10)	$	(27)
PSEG Power & Other	7		(11)		(1)		(4)
Total Benefit (Credits) Costs	$	20	$	(29)	$	(11)	$	(31)