Condensed Consolidated Balance Sheets (USD $) In Millions	Sep. 30, 2011		Dec. 31, 2010
CURRENT ASSETS
Cash and Cash Equivalents	$ 1,242		$ 280
Accounts Receivable	1,164		1,387
Tax Receivable	377		689
Unbilled Revenues	251		400
Fuel	740		666
Materials and Supplies, net	365		359
Prepayments	416		204
Derivative Contracts	113		182
Assets of Discontinued Operations	0		564
Deferred Income Taxes	96		43
Regulatory Assets	86		155
Other	120		122
Total Current Assets	4,970		5,051
PROPERTY, PLANT AND EQUIPMENT	24,618		23,272
Less: Accumulated Depreciation and Amortization	(7,336)		(6,882)
Net Property, Plant and Equipment	17,282		16,390
NONCURRENT ASSETS
Regulatory Assets	3,354		3,736
Regulatory Assets of Variable Interest Entities (VIEs)	968		1,128
Long-Term Investments	1,406		1,623
Nuclear Decommissioning Trust (NDT) Funds	1,280		1,363
Other Special Funds	170		160
Goodwill	16		16
Other Intangibles	164		136
Derivative Contracts	75		79
Restricted Cash of VIEs	22		21
Other	204		206
Total Noncurrent Assets	7,659		8,468
TOTAL ASSETS	29,911		29,909
CURRENT LIABILITIES
Long-Term Debt Due Within One Year	1,275		915
Securitization Debt of VIEs Due Within One Year	214		206
Commercial Paper and Loans	0		64
Accounts Payable	1,144		1,176
Derivative Contracts	94		103
Accrued Interest	131		108
Accrued Taxes	30		49
Clean Energy Program	224		195
Obligation to Return Cash Collateral	107		104
Regulatory Liabilities	161		174
Liabilities of Discontinued Operations	0		72
Other	312		319
Total Current Liabilities	3,692		3,485
NONCURRENT LIABILITIES
Deferred Income Taxes and Investment Tax Credits (ITC)	5,652		5,129
Regulatory Liabilities	235		285
Regulatory Liabilities of VIEs	9		8
Asset Retirement Obligations	482		461
Other Postretirement Benefit (OPEB) Costs	948		967
Accrued Pension Costs	189		788
Clean Energy Program	70		235
Environmental Costs	651		669
Derivative Contracts	31		22
Long-Term Accrued Taxes	234		248
Other	77		152
Total Noncurrent Liabilities	8,578		8,964
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 8)
LONG-TERM DEBT
Long-Term Debt	6,651		6,834
Securitization Debt of VIEs	784		939
Project Level, Non-Recourse Debt	45		46
Total Long-Term Debt	7,480		7,819
STOCKHOLDERS' EQUITY
Common Stock	4,818		4,807
Treasury Stock, at cost, 2011-27,651,927 shares; 2010-27,582,437 shares	(601)		(593)
Retained Earnings	6,198		5,575
Accumulated Other Comprehensive Loss	(256)		(156)	[1]
Total Common Stockholders' Equity	10,159		9,633
Noncontrolling Interest	2		8
Total Stockholders' Equity	10,161		9,641
Total Capitalization	17,641		17,460
TOTAL LIABILITIES AND CAPITALIZATION	29,911		29,909
Power [Member]
CURRENT ASSETS
Cash and Cash Equivalents	14		11
Accounts Receivable	432		511
Accounts Receivable - Affiliated Companies, net	127		782
Short-Term Loan to Affiliate	1,574		398
Fuel	740		666
Materials and Supplies, net	273		269
Prepayments	42		80
Derivative Contracts	95		163
Assets of Discontinued Operations	0		564
Total Current Assets	3,297		3,444
PROPERTY, PLANT AND EQUIPMENT	9,118		8,643
Less: Accumulated Depreciation and Amortization	(2,552)		(2,301)
Net Property, Plant and Equipment	6,566		6,342
NONCURRENT ASSETS
Nuclear Decommissioning Trust (NDT) Funds	1,280		1,363
Other Special Funds	33		32
Goodwill	16		16
Other Intangibles	164		130
Derivative Contracts	24		42
Long-Term Accrued Taxes	19		16
Other	85		67
Total Noncurrent Assets	1,621		1,666
TOTAL ASSETS	11,484		11,452
CURRENT LIABILITIES
Long-Term Debt Due Within One Year	710		650
Accounts Payable	635		643
Derivative Contracts	79		91
Deferred Income Taxes	8		64
Accrued Interest	63		40
Liabilities of Discontinued Operations	0		72
Other	111		91
Total Current Liabilities	1,606		1,651
NONCURRENT LIABILITIES
Deferred Income Taxes and Investment Tax Credits (ITC)	1,211		1,146
Asset Retirement Obligations	255		242
Other Postretirement Benefit (OPEB) Costs	158		151
Accrued Pension Costs	75		253
Environmental Costs	51		51
Derivative Contracts	17		22
Other	34		104
Total Noncurrent Liabilities	1,801		1,969
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 8)
LONG-TERM DEBT
Total Long-Term Debt	2,640		2,805
STOCKHOLDERS' EQUITY
Contributed Capital	2,028		2,028
Basis Adjustment	(986)		(986)
Retained Earnings	4,602		4,080
Accumulated Other Comprehensive Loss	(207)		(95)
Total Stockholders' Equity	5,437		5,027
TOTAL LIABILITIES AND CAPITALIZATION	11,484		11,452
PSE&G [Member]
CURRENT ASSETS
Cash and Cash Equivalents	242		245
Accounts Receivable	720		832
Accounts Receivable - Affiliated Companies, net	304		0
Tax Receivable	21		0
Unbilled Revenues	251		400
Materials and Supplies, net	91		90
Prepayments	320		117
Regulatory Assets	86		155
Other	35		19
Total Current Assets	2,070		1,858
PROPERTY, PLANT AND EQUIPMENT	14,917		14,068
Less: Accumulated Depreciation and Amortization	(4,500)		(4,326)
Net Property, Plant and Equipment	10,417		9,742
NONCURRENT ASSETS
Regulatory Assets	3,354		3,736
Regulatory Assets of Variable Interest Entities (VIEs)	968		1,128
Long-Term Investments	258		230
Other Special Funds	57		54
Derivative Contracts	0		17
Restricted Cash of VIEs	22		21
Other	89		87
Total Noncurrent Assets	4,748		5,273
TOTAL ASSETS	17,235		16,873
CURRENT LIABILITIES
Long-Term Debt Due Within One Year	564		264
Securitization Debt of VIEs Due Within One Year	214		206
Accounts Payable	396		406
Accounts Payable - Affiliated Companies, net	0		85
Derivative Contracts	15		12
Deferred Income Taxes	21		19
Accrued Interest	66		65
Clean Energy Program	224		195
Obligation to Return Cash Collateral	107		104
Regulatory Liabilities	161		174
Other	190		229
Total Current Liabilities	1,958		1,759
NONCURRENT LIABILITIES
Deferred Income Taxes and Investment Tax Credits (ITC)	3,690		3,127
Regulatory Liabilities	235		285
Regulatory Liabilities of VIEs	9		8
Asset Retirement Obligations	223		216
Other Postretirement Benefit (OPEB) Costs	743		770
Accrued Pension Costs	18		377
Clean Energy Program	70		235
Environmental Costs	600		617
Derivative Contracts	11		0
Long-Term Accrued Taxes	54	[2]	74	[2]
Other	21		23
Total Noncurrent Liabilities	5,674		5,732
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 8)
LONG-TERM DEBT
Long-Term Debt	3,971		4,019
Securitization Debt of VIEs	784		939
Total Long-Term Debt	4,755		4,958
STOCKHOLDERS' EQUITY
Common Stock	892		892
Contributed Capital	420		420
Basis Adjustment	986		986
Retained Earnings	2,548		2,126
Accumulated Other Comprehensive Loss	2	[3]	0
Total Stockholders' Equity	4,848		4,424
Total Capitalization	9,603		9,382
TOTAL LIABILITIES AND CAPITALIZATION	$ 17,235		$ 16,873

[1] Net of tax related to Derivative Contracts, Pension and OPEB Plans and NDT Funds/Other of $54 million, $(31) million and $78 million, respectively for the nine months ended September 30, 2011. Net of tax related to Derivative Contracts, Pension and OPEB Plans and NDT Funds/Other of $1 million, $(12) million and $1 million, respectively for the nine months ended September 30, 2010.

[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 net operating losses 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] Net of tax of $(7) million for the nine months ended September 30, 2011 and $2 million for the nine months ended September 30, 2010.