XML 98 R78.htm IDEA: XBRL DOCUMENT v3.21.2
Financial Risk Management Activities (Narrative) (Detail) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Derivatives, Fair Value [Line Items]    
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax $ (7) $ (9)
Derivative, Fair Value, Net 80 44
Unrealized Loss to be Reclassified to Earnings During the Next Twelve Months (3)  
PSEG Power [Member]    
Derivatives, Fair Value [Line Items]    
Securities held as Collateral 15  
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[2] 917 8
Fair Value of Derivatives with credit-risk related contingent features 154 28
Aggregate fair value of derivative contracts in a liability position that contains triggers for additional collateral 29 3
Additional collateral aggregate fair value 125 25
Derivative, Fair Value, Net [2] $ 80 $ 44
[1] Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. All cash collateral (received) posted that has been allocated to derivative positions, where the right of offset exists, has been offset on the Condensed Consolidated Balance Sheets. As of September 30, 2021 and December 31, 2020, PSEG Power had net cash collateral (receipts) payments to counterparties of $999 million and $54 million, respectively. Of these net cash collateral (receipts) payments, $917 million and $8 million as of September 30, 2021 and December 31, 2020, respectively, were netted against the corresponding net derivative contract positions. Of the $917 million as of September 30, 2021, $676 million was netted against current liabilities and $241 million was netted against noncurrent liabilities. Of the $8 million as of December 31, 2020, $(13) million was netted against current assets and $21 million was netted against noncurrent liabilities.
[2] Substantially all of PSEG Power’s and PSEG’s derivative instruments are contracts subject to master netting agreements. Contracts not subject to master netting or similar agreements are immaterial and did not have any collateral posted or received as of September 30, 2021 and December 31, 2020.