Revenues Revenues (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenues

	PSE&G		PSEG Power & Other (A)		Eliminations		Consolidated
	Millions
Three Months Ended March 31, 2024
Revenues from Contracts with Customers
Electric Distribution	$	781	$	—	$	—	$	781
Gas Distribution	922		—		—		922
Transmission	436		—		—		436
Electricity and Related Product Sales
PJM
Third-Party Sales	—		227		—		227
Sales to Affiliates	—		30		(30)		—
ISO-New England (NE)	—		3		—		3
Gas Sales
Third-Party Sales	—		76		—		76
Sales to Affiliates	—		414		(414)		—
Other Revenues from Contracts with Customers (B)	84		174		(1)		257
Total Revenues from Contracts with Customers	2,223		924		(445)		2,702
Revenues Unrelated to Contracts with Customers (C)	110		(52)		—		58
Total Operating Revenues	$	2,333	$	872	$	(445)	$	2,760

	PSE&G		PSEG Power & Other (A)		Eliminations		Consolidated
	Millions
Three Months Ended March 31, 2023
Revenues from Contracts with Customers
Electric Distribution	$	730	$	—	$	—	$	730
Gas Distribution	959		—		(1)		958
Transmission	425		—		—		425
Electricity and Related Product Sales
PJM
Third-Party Sales	—		276		—		276
Sales to Affiliates	—		31		(31)		—
ISO-NE	—		3		—		3
Gas Sales
Third-Party Sales	—		86		—		86
Sales to Affiliates	—		533		(533)		—
Other Revenues from Contracts with Customers (B)	78		153		—		231
Total Revenues from Contracts with Customers	2,192		1,082		(565)		2,709
Revenues Unrelated to Contracts with Customers (C)	101		945		—		1,046
Total Operating Revenues	$	2,293	$	2,027	$	(565)	$	3,755

(A)Includes revenues applicable to PSEG Power, PSEG LI and Energy Holdings.

(B)Includes primarily revenues from appliance repair services and the sale of solar renewable energy credits (SRECs) at auction at PSE&G. PSEG Power & Other includes PSEG LI’s OSA with LIPA and PSEG Power’s energy management fee with LIPA.

(C)Includes primarily alternative revenues at PSE&G principally from the CIP program and derivative contracts and lease contracts at PSEG Power & Other.

Accounts Receivable, Allowance for Credit Loss [Table Text Block]

The following provides a reconciliation of PSE&G’s allowance for credit losses for the three months ended March 31, 2024 and 2023:

		2024		2023
		Millions
Balance as of Beginning of Year		$	283	$	339
Utility Customer and Other Accounts
	Provision	26		9
	Write-offs, net of Recoveries of $7 million in 2024 and 2023	(36)		(29)
Balance as of End of Period		$	273	$	319

Revenue, Capacity Auction Obligations [Table Text Block]

Capacity Revenues from the PJM Annual Base Residual and Incremental Auctions—The Base Residual Auction is generally conducted annually three years in advance of the operating period. The 2023/2024 auction was held in June 2022. In February 2023, the results of the 2024/2025 auction held in December 2022 were released. PSEG Power expects to realize the following average capacity prices resulting from the base and incremental auctions, including unit specific bilateral contracts for previously cleared capacity obligations.

Delivery Year	$ per Megawatt (MW)-Day	MW Cleared
June 2023 to May 2024	$50	3,700
June 2024 to May 2025	$65	3,700

Capacity transactions with the PJM Regional Transmission Organization are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position.