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Financial Risk Management Activities (Schedule Of Derivative Instruments Fair Value In Balance Sheets) (Detail) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Jun. 30, 2021
Derivatives, Fair Value [Line Items]      
Collateral Already Posted, Aggregate Fair Value $ 2,161 $ 844  
Derivative Contracts, Current Assets 138 72  
Derivative Contracts, Noncurrent Assets 46 28  
Total Mark-to-Market Derivative Assets 184 100  
Derivative Contracts, Current Liabilities (211) (17)  
Derivative Contracts, Noncurrent Liabilities (36) (17)  
Total Mark-to-Market Derivative (Liabilities) (247) (34)  
Net Mark-to-Market Derivative Assets (Liabilities) (63) 66  
Derivative, Fair Value, Amount Offset Against Collateral, Net [1] 1,699 615  
PSEG Power [Member]      
Derivatives, Fair Value [Line Items]      
Collateral Already Posted, Aggregate Fair Value 2,200   $ 343
Other Noncurrent Liabilities [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net 661 335  
Other Current Assets [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net (12) (30)  
Other Noncurrent Assets [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net (6) (13)  
Other Current Liabilities [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net 1,056 323  
Energy-Related Contracts [Member] | Not Designated as Hedging Instrument [Member]      
Derivatives, Fair Value [Line Items]      
Derivative Contracts, Current Assets 2,966 816  
Derivative Contracts, Noncurrent Assets 895 546  
Total Mark-to-Market Derivative Assets 3,861 1,362  
Derivative Contracts, Current Liabilities (4,083) (1,055)  
Derivative Contracts, Noncurrent Liabilities (1,540) (856)  
Total Mark-to-Market Derivative (Liabilities) (5,623) (1,911)  
Net Mark-to-Market Derivative Assets (Liabilities) (1,762) (549)  
Energy-Related Contracts [Member] | Other Noncurrent Liabilities [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [1] 1,504 839  
Energy-Related Contracts [Member] | Other Current Assets [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [1] (2,828) (744)  
Energy-Related Contracts [Member] | Other Noncurrent Assets [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [1] (849) (518)  
Energy-Related Contracts [Member] | Assets [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[2],[3] (3,677) (1,262)  
Energy-Related Contracts [Member] | Other Current Liabilities [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [1] 3,872 1,038  
Energy-Related Contracts [Member] | Other Liabilities [Member]      
Derivatives, Fair Value [Line Items]      
Derivative, Fair Value, Amount Offset Against Collateral, Net [1],[2],[3] $ 5,376 $ 1,877  
[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, 2022 and December 31, 2021, PSEG Power had net cash collateral (receipts) payments to counterparties of $2,161 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,699 million and $615 million as of September 30, 2022 and December 31, 2021, respectively, were netted against the corresponding net derivative contract positions. Of the $1,699 million as of September 30, 2022, $(12) million was netted against current assets, $(6) million against noncurrent assets, $1,056 million against current liabilities and $661 million against noncurrent liabilities. Of the $615 million as of December 31, 2021, $(30) million was netted against current assets, $(13) million against noncurrent assets, $323 million against current liabilities and $335 million against noncurrent liabilities.
[2] Level 1—These contracts represent natural gas futures contracts executed on NYMEX, and are being valued solely on settled pricing inputs which come directly from the exchange.
Level 2—Fair values for energy-related contracts are obtained primarily using a market-based approach. Most derivative contracts (forward purchase or sale contracts and swaps) are valued using settled prices from similar assets and liabilities from an exchange, such as NYMEX, ICE and Nodal Exchange, or auction prices. Prices used in the valuation process are also corroborated independently by management to determine that values are based on actual transaction data or, in the absence of transactions, bid and offers for the day. Examples may include certain exchange and non-exchange traded capacity and electricity contracts and natural gas physical or swap contracts based on market prices, basis adjustments and other premiums where adjustments and premiums are not considered significant to the overall inputs.
Level 3—Unobservable inputs are used for the valuation of certain contracts. See “Additional Information Regarding Level 3 Measurements” below for more information on the utilization of unobservable inputs.
[3] Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. See Note 13. Financial Risk Management Activities for additional detail.