Rate Filings	9 Months Ended
Sep. 30, 2022
Regulatory Assets [Line Items]
Rate Filings	Rate Filings This Note should be read in conjunction with Note 7. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2021. In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with the BPU or FERC are as follows: Basic Generation Service (BGS)—In January 2022, the BPU approved changes to BGS rates as a result of the FERC-approved changes to transmission charges, primarily as a result of the decrease in PSE&G’s transmission formula rate of return on equity. PSE&G’s BGS customers are being credited over a 12-month period effective February 1, 2022. BGSS—In April 2022, the BPU gave final approval to PSE&G’s request to maintain the current BGSS rate of approximately 41 cents per therm which had been provisionally approved effective February 1, 2022. In September 2022, the BPU approved on a provisional basis PSE&G’s June 2022 request to increase its BGSS rate to approximately 65 cents per therm, effective October 1, 2022. CIP—In June 2022, the BPU provisionally approved PSE&G’s filing to recover over two years approximately $52 million of deficient electric revenues, with approximately $18 million approved for recovery for the first year starting on the effective date of June 15, 2022. In September 2022, the BPU provisionally approved PSE&G’s initial gas CIP cost recovery petition to recover over a one year period deficient gas revenues of approximately $53 million with new rates effective October 1, 2022. The revenue deficiency is the result of lower estimated revenues as compared to a baseline established in PSE&G’s most recent distribution base rate proceeding. Clean Energy Future (CEF)-Energy Cloud (EC) or Advanced Metering Infrastructure (AMI) Initiative—As a result of PSE&G’s approved CEF-EC filing in 2021 to provide smart meters to its electric customers, PSE&G expects to retire most of its current non-AMI electric meters by the end of 2024. As of September 30, 2022 and December 31, 2021, the net book value of these meters was $178 million and $192 million, respectively. The filing also approved the recovery on and of the stranded costs associated with the retirement of the existing meters. Community Solar Energy Pilot (CSEP) Program, a New Component of the Green Program Recovery Charges (GPRC)—In June 2022, the BPU approved PSE&G’s filing to recover its initial electric revenue requirement of $0.4 million related to the CSEP Program with the new rate effective July 1, 2022. COVID-19 Deferral—PSE&G continues to make quarterly filings as required by the BPU and has recorded a Regulatory Asset as of September 30, 2022 of approximately $122 million for net incremental costs, including $62 million for incremental gas bad debt expense associated with customer accounts receivable, which PSE&G expects are probable of recovery under the BPU order. Energy Strong II—In May 2022, the BPU approved PSE&G’s updated filing for annual electric and gas revenue increases of $17 million and $1 million, respectively, effective June 1, 2022. These increases represent the return on and of Energy Strong II investments placed in service through January 2022. Gas System Modernization Program (GSMP II)—In May 2022, the BPU approved PSE&G’s filing for an annual gas revenue increase of $25 million effective June 1, 2022. This increase represents the return on and of GSMP II investments placed in service through February 2022. In September 2022, PSE&G updated is June 2022 GSMP II cost recovery petition seeking BPU approval to recover an annual gas revenue increase of $23 million effective December 1, 2022. This increase represents the return on and of GSMP II investments placed in service through August 31, 2022. This matter is pending. GPRC—In June 2022, the BPU approved PSE&G’s updated filing for an annual electric revenue decrease of approximately $4 million and a gas revenue increase of approximately $1 million, with new rates effective June 15, 2022. In July 2022, PSE&G filed its 2022 GPRC cost recovery petition requesting BPU approval to recover increases of $110 million and $8 million in annual electric and gas revenues, respectively. This matter is pending. In September 2022, PSE&G filed a petition which requested an increase in its total program investment spending for the CEF-Energy Efficiency component of GPRC by an additional $320 million and a nine month extension to the program to make the investments. This matter is pending. Pension—In September 2022, PSE&G filed a petition with the BPU requesting an accounting order from the BPU, effective January 1, 2023, to authorize PSE&G to modify its method for calculating the amortization of the net actuarial gain or loss component of pension expense for ratemaking purposes by deferring the recognition of the difference between expected and actual returns into the net actuarial gain or loss ratably over a five-year period. This matter is pending. Remediation Adjustment Charge (RAC)—In September 2022, the BPU approved PSE&G’s RAC 29 filing allowing recovery of approximately $44 million of net Manufactured Gas Plant (MGP) remediation expenditures incurred from August 1, 2020 through July 31, 2021. Solar Successor Incentive (SuSi) Program, a New Component of the GPRC—In June 2022, the BPU approved PSE&G’s filing to recover an annual electric revenue increase of $38 million effective June 15, 2022. These costs will be recovered as a new component of PSE&G’s existing electric GPRC. Tax Adjustment Credit (TAC)—In June 2022, the BPU approved PSE&G’s annual 2021 TAC filing to increase annual electric and gas revenues by approximately $15 million and $31 million, respectively. The new rates were effective June 15, 2022. In October 2022, PSE&G made its annual 2022 TAC filing requesting BPU approval to increase electric revenues and decrease gas revenues by approximately $17 million and $70 million, respectively, on an annual basis starting January 1, 2023. This matter is pending. Transmission Formula Rates—In June 2022, PSE&G filed its 2021 true-up adjustment pertaining to its transmission formula rates in effect for 2021. This filing resulted in a decrease in the 2021 annual revenue requirement of $1 million less than the 2021 original and updated filings, incorporating the FERC approved settlement agreement effective August 1, 2021. In October 2022, PSE&G filed its Annual Transmission Formula Rate Update with FERC which will result in $69 million in increased annual transmission revenue effective January 1, 2023, subject to true up. ZEC Program—In April 2022, the BPU approved PSE&G’s petition to refund a total of $4 million to customers, including interest, for overcollections resulting from the ZEC program for the energy year ended May 31, 2021. In October 2022, PSE&G filed a petition with the BPU to set the ZEC refund component of the tariff rate to zero effective February 1, 2023. For the ZEC Energy Year ended May 31, 2022, PSE&G purchased approximately $161 million in ZECs including interest, from the eligible nuclear plants selected by the BPU with the final payment made in August 2022. As a result of the collections and required ZEC payments, there were overcollected revenues, including interest totaling $1.3 million which PSE&G will refund to customers over the remainder of 2022 through January 2023, through its existing rates.
Public Service Electric and Gas Company [Member]
Regulatory Assets [Line Items]
Rate Filings	Rate Filings This Note should be read in conjunction with Note 7. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2021. In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with the BPU or FERC are as follows: Basic Generation Service (BGS)—In January 2022, the BPU approved changes to BGS rates as a result of the FERC-approved changes to transmission charges, primarily as a result of the decrease in PSE&G’s transmission formula rate of return on equity. PSE&G’s BGS customers are being credited over a 12-month period effective February 1, 2022. BGSS—In April 2022, the BPU gave final approval to PSE&G’s request to maintain the current BGSS rate of approximately 41 cents per therm which had been provisionally approved effective February 1, 2022. In September 2022, the BPU approved on a provisional basis PSE&G’s June 2022 request to increase its BGSS rate to approximately 65 cents per therm, effective October 1, 2022. CIP—In June 2022, the BPU provisionally approved PSE&G’s filing to recover over two years approximately $52 million of deficient electric revenues, with approximately $18 million approved for recovery for the first year starting on the effective date of June 15, 2022. In September 2022, the BPU provisionally approved PSE&G’s initial gas CIP cost recovery petition to recover over a one year period deficient gas revenues of approximately $53 million with new rates effective October 1, 2022. The revenue deficiency is the result of lower estimated revenues as compared to a baseline established in PSE&G’s most recent distribution base rate proceeding. Clean Energy Future (CEF)-Energy Cloud (EC) or Advanced Metering Infrastructure (AMI) Initiative—As a result of PSE&G’s approved CEF-EC filing in 2021 to provide smart meters to its electric customers, PSE&G expects to retire most of its current non-AMI electric meters by the end of 2024. As of September 30, 2022 and December 31, 2021, the net book value of these meters was $178 million and $192 million, respectively. The filing also approved the recovery on and of the stranded costs associated with the retirement of the existing meters. Community Solar Energy Pilot (CSEP) Program, a New Component of the Green Program Recovery Charges (GPRC)—In June 2022, the BPU approved PSE&G’s filing to recover its initial electric revenue requirement of $0.4 million related to the CSEP Program with the new rate effective July 1, 2022. COVID-19 Deferral—PSE&G continues to make quarterly filings as required by the BPU and has recorded a Regulatory Asset as of September 30, 2022 of approximately $122 million for net incremental costs, including $62 million for incremental gas bad debt expense associated with customer accounts receivable, which PSE&G expects are probable of recovery under the BPU order. Energy Strong II—In May 2022, the BPU approved PSE&G’s updated filing for annual electric and gas revenue increases of $17 million and $1 million, respectively, effective June 1, 2022. These increases represent the return on and of Energy Strong II investments placed in service through January 2022. Gas System Modernization Program (GSMP II)—In May 2022, the BPU approved PSE&G’s filing for an annual gas revenue increase of $25 million effective June 1, 2022. This increase represents the return on and of GSMP II investments placed in service through February 2022. In September 2022, PSE&G updated is June 2022 GSMP II cost recovery petition seeking BPU approval to recover an annual gas revenue increase of $23 million effective December 1, 2022. This increase represents the return on and of GSMP II investments placed in service through August 31, 2022. This matter is pending. GPRC—In June 2022, the BPU approved PSE&G’s updated filing for an annual electric revenue decrease of approximately $4 million and a gas revenue increase of approximately $1 million, with new rates effective June 15, 2022. In July 2022, PSE&G filed its 2022 GPRC cost recovery petition requesting BPU approval to recover increases of $110 million and $8 million in annual electric and gas revenues, respectively. This matter is pending. In September 2022, PSE&G filed a petition which requested an increase in its total program investment spending for the CEF-Energy Efficiency component of GPRC by an additional $320 million and a nine month extension to the program to make the investments. This matter is pending. Pension—In September 2022, PSE&G filed a petition with the BPU requesting an accounting order from the BPU, effective January 1, 2023, to authorize PSE&G to modify its method for calculating the amortization of the net actuarial gain or loss component of pension expense for ratemaking purposes by deferring the recognition of the difference between expected and actual returns into the net actuarial gain or loss ratably over a five-year period. This matter is pending. Remediation Adjustment Charge (RAC)—In September 2022, the BPU approved PSE&G’s RAC 29 filing allowing recovery of approximately $44 million of net Manufactured Gas Plant (MGP) remediation expenditures incurred from August 1, 2020 through July 31, 2021. Solar Successor Incentive (SuSi) Program, a New Component of the GPRC—In June 2022, the BPU approved PSE&G’s filing to recover an annual electric revenue increase of $38 million effective June 15, 2022. These costs will be recovered as a new component of PSE&G’s existing electric GPRC. Tax Adjustment Credit (TAC)—In June 2022, the BPU approved PSE&G’s annual 2021 TAC filing to increase annual electric and gas revenues by approximately $15 million and $31 million, respectively. The new rates were effective June 15, 2022. In October 2022, PSE&G made its annual 2022 TAC filing requesting BPU approval to increase electric revenues and decrease gas revenues by approximately $17 million and $70 million, respectively, on an annual basis starting January 1, 2023. This matter is pending. Transmission Formula Rates—In June 2022, PSE&G filed its 2021 true-up adjustment pertaining to its transmission formula rates in effect for 2021. This filing resulted in a decrease in the 2021 annual revenue requirement of $1 million less than the 2021 original and updated filings, incorporating the FERC approved settlement agreement effective August 1, 2021. In October 2022, PSE&G filed its Annual Transmission Formula Rate Update with FERC which will result in $69 million in increased annual transmission revenue effective January 1, 2023, subject to true up. ZEC Program—In April 2022, the BPU approved PSE&G’s petition to refund a total of $4 million to customers, including interest, for overcollections resulting from the ZEC program for the energy year ended May 31, 2021. In October 2022, PSE&G filed a petition with the BPU to set the ZEC refund component of the tariff rate to zero effective February 1, 2023. For the ZEC Energy Year ended May 31, 2022, PSE&G purchased approximately $161 million in ZECs including interest, from the eligible nuclear plants selected by the BPU with the final payment made in August 2022. As a result of the collections and required ZEC payments, there were overcollected revenues, including interest totaling $1.3 million which PSE&G will refund to customers over the remainder of 2022 through January 2023, through its existing rates.

This Note should be read in conjunction with Note 7. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2021.

In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with the BPU or FERC are as follows:

Basic Generation Service (BGS)—In January 2022, the BPU approved changes to BGS rates as a result of the FERC-approved changes to transmission charges, primarily as a result of the decrease in PSE&G’s transmission formula rate of return on equity. PSE&G’s BGS customers are being credited over a 12-month period effective February 1, 2022.

BGSS—In April 2022, the BPU gave final approval to PSE&G’s request to maintain the current BGSS rate of approximately 41 cents per therm which had been provisionally approved effective February 1, 2022.

In September 2022, the BPU approved on a provisional basis PSE&G’s June 2022 request to increase its BGSS rate to approximately 65 cents per therm, effective October 1, 2022.

CIP—In June 2022, the BPU provisionally approved PSE&G’s filing to recover over two years approximately $52 million of deficient electric revenues, with approximately $18 million approved for recovery for the first year starting on the effective date of June 15, 2022.

In September 2022, the BPU provisionally approved PSE&G’s initial gas CIP cost recovery petition to recover over a one year period deficient gas revenues of approximately $53 million with new rates effective October 1, 2022. The revenue deficiency is the result of lower estimated revenues as compared to a baseline established in PSE&G’s most recent distribution base rate proceeding.

Clean Energy Future (CEF)-Energy Cloud (EC) or Advanced Metering Infrastructure (AMI) Initiative—As a result of PSE&G’s approved CEF-EC filing in 2021 to provide smart meters to its electric customers, PSE&G expects to retire most of its current non-AMI electric meters by the end of 2024. As of September 30, 2022 and December 31, 2021, the net book value of these meters was $178 million and $192 million, respectively. The filing also approved the recovery on and of the stranded costs associated with the retirement of the existing meters.

Community Solar Energy Pilot (CSEP) Program, a New Component of the Green Program Recovery Charges (GPRC)—In June 2022, the BPU approved PSE&G’s filing to recover its initial electric revenue requirement of $0.4 million related to the CSEP Program with the new rate effective July 1, 2022.

COVID-19 Deferral—PSE&G continues to make quarterly filings as required by the BPU and has recorded a Regulatory Asset as of September 30, 2022 of approximately $122 million for net incremental costs, including $62 million for incremental gas bad debt expense associated with customer accounts receivable, which PSE&G expects are probable of recovery under the BPU order.

Energy Strong II—In May 2022, the BPU approved PSE&G’s updated filing for annual electric and gas revenue increases of $17 million and $1 million, respectively, effective June 1, 2022. These increases represent the return on and of Energy Strong II investments placed in service through January 2022.

Gas System Modernization Program (GSMP II)—In May 2022, the BPU approved PSE&G’s filing for an annual gas revenue increase of $25 million effective June 1, 2022. This increase represents the return on and of GSMP II investments placed in service through February 2022.

In September 2022, PSE&G updated is June 2022 GSMP II cost recovery petition seeking BPU approval to recover an annual gas revenue increase of $23 million effective December 1, 2022. This increase represents the return on and of GSMP II investments placed in service through August 31, 2022. This matter is pending.

GPRC—In June 2022, the BPU approved PSE&G’s updated filing for an annual electric revenue decrease of approximately $4 million and a gas revenue increase of approximately $1 million, with new rates effective June 15, 2022.

In July 2022, PSE&G filed its 2022 GPRC cost recovery petition requesting BPU approval to recover increases of $110 million and $8 million in annual electric and gas revenues, respectively. This matter is pending.

In September 2022, PSE&G filed a petition which requested an increase in its total program investment spending for the CEF-Energy Efficiency component of GPRC by an additional $320 million and a nine month extension to the program to make the investments. This matter is pending.

Pension—In September 2022, PSE&G filed a petition with the BPU requesting an accounting order from the BPU, effective January 1, 2023, to authorize PSE&G to modify its method for calculating the amortization of the net actuarial gain or loss component of pension expense for ratemaking purposes by deferring the recognition of the difference between expected and actual returns into the net actuarial gain or loss ratably over a five-year period. This matter is pending.

Remediation Adjustment Charge (RAC)—In September 2022, the BPU approved PSE&G’s RAC 29 filing allowing recovery of approximately $44 million of net Manufactured Gas Plant (MGP) remediation expenditures incurred from August 1, 2020 through July 31, 2021.

Solar Successor Incentive (SuSi) Program, a New Component of the GPRC—In June 2022, the BPU approved PSE&G’s filing to recover an annual electric revenue increase of $38 million effective June 15, 2022. These costs will be recovered as a new component of PSE&G’s existing electric GPRC.

Tax Adjustment Credit (TAC)—In June 2022, the BPU approved PSE&G’s annual 2021 TAC filing to increase annual electric and gas revenues by approximately $15 million and $31 million, respectively. The new rates were effective June 15, 2022.

In October 2022, PSE&G made its annual 2022 TAC filing requesting BPU approval to increase electric revenues and decrease gas revenues by approximately $17 million and $70 million, respectively, on an annual basis starting January 1, 2023. This matter is pending.

Transmission Formula Rates—In June 2022, PSE&G filed its 2021 true-up adjustment pertaining to its transmission formula rates in effect for 2021. This filing resulted in a decrease in the 2021 annual revenue requirement of $1 million less than the 2021 original and updated filings, incorporating the FERC approved settlement agreement effective August 1, 2021.

In October 2022, PSE&G filed its Annual Transmission Formula Rate Update with FERC which will result in $69 million in increased annual transmission revenue effective January 1, 2023, subject to true up.

ZEC Program—In April 2022, the BPU approved PSE&G’s petition to refund a total of $4 million to customers, including interest, for overcollections resulting from the ZEC program for the energy year ended May 31, 2021.

In October 2022, PSE&G filed a petition with the BPU to set the ZEC refund component of the tariff rate to zero effective February 1, 2023. For the ZEC Energy Year ended May 31, 2022, PSE&G purchased approximately $161 million in ZECs including interest, from the eligible nuclear plants selected by the BPU with the final payment made in August 2022. As a result of the collections and required ZEC payments, there were overcollected revenues, including interest totaling $1.3 million which PSE&G will refund to customers over the remainder of 2022 through January 2023, through its existing rates.

This Note should be read in conjunction with Note 7. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2021.

In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with the BPU or FERC are as follows:

In September 2022, the BPU approved on a provisional basis PSE&G’s June 2022 request to increase its BGSS rate to approximately 65 cents per therm, effective October 1, 2022.