Public Service Electric & Gas 10-Q 3 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 19, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-09120
Entity Registrant Name	Public Service Enterprise Group Incorporated
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-2625848
Entity Address, Address Line One	80 Park Plaza
Entity Address, City or Town	Newark,
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	973
Local Phone Number	430-7000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		499,258,876
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000788784
Common Stock without par value [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock without par value
Trading Symbol	PEG
Security Exchange Name	NYSE
Public Service Electric and Gas Company [Member]
Entity Information [Line Items]
Entity File Number	001-00973
Entity Registrant Name	Public Service Electric and Gas Company
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-1212800
Entity Address, Address Line One	80 Park Plaza
Entity Address, City or Town	Newark,
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	973
Local Phone Number	430-7000
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		132,450,344
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000081033
Public Service Electric and Gas Company [Member] | First and Refunding Mortgage Bonds Eight Percent, Due Two Thousand Thirty Seven [Member]
Entity Information [Line Items]
Title of 12(b) Security	8.00% First and Refunding Mortgage Bonds, due 2037
Trading Symbol	PEG37D
Security Exchange Name	NYSE
Public Service Electric and Gas Company [Member] | First and Refunding Mortgage Bonds Five Percent, Due Two Thousand Thirty Seven [Member]
Entity Information [Line Items]
Title of 12(b) Security	5.00% First and Refunding Mortgage Bonds, due 2037
Trading Symbol	PEG37J
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Revenues	$ 2,313	$ 2,889
Operating Expenses [Abstract]
Energy Costs	1,245	1,029
Operation and Maintenance	794	778
Depreciation and Amortization	283	341
(Gains) Losses on Asset Dispositions and Impairments	43	0
Total Operating Expenses	2,365	2,148
OPERATING INCOME (LOSS)	(52)	741
Income from Equity Method Investments	4	3
Net Gains (Losses) on Trust Investments	(68)	60
Other Income (Deductions)	5	25
Non-Operating Pension and OPEB Credits (Costs)	94	82
Interest Expense	(137)	(146)
Income Before Income Taxes	(154)	765
Income Tax Benefit (Expense)	152	(117)
Net Income (Loss)	$ (2)	$ 648
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
BASIC (shares)	501	504
DILUTED (shares)	501	507
EARNINGS PER SHARE:
BASIC (dollars per share)	$ 0	$ 1.29
DILUTED (dollars per share)	$ 0	$ 1.28
Public Service Electric and Gas Company [Member]
Operating Revenues	$ 2,284	$ 2,073
Operating Expenses [Abstract]
Energy Costs	968	849
Operation and Maintenance	463	424
Depreciation and Amortization	241	241
Total Operating Expenses	1,672	1,514
OPERATING INCOME (LOSS)	612	559
Net Gains (Losses) on Trust Investments	0	1
Other Income (Deductions)	19	28
Non-Operating Pension and OPEB Credits (Costs)	70	66
Interest Expense	(103)	(98)
Income Before Income Taxes	598	556
Income Tax Benefit (Expense)	(89)	(79)
Net Income (Loss)	$ 509	$ 477

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Income (Loss)	$ (2)	$ 648
Other Comprehensive Income (Loss), net of tax
Unrealized Gains (Losses) on Available-for-Sale Securities, net of tax (expense) benefit	(61)	(42)
Unrealized Gains (Losses) on Cash Flow Hedges, net of tax (expense) benefit	1	1
Pension/Other Postretirement Benefit (OPEB) adjustment, net of tax (expense) benefit	0	3
Other Comprehensive Income (Loss), net of tax	(60)	(38)
COMPREHENSIVE INCOME (LOSS)	(62)	610
Public Service Electric and Gas Company [Member]
Net Income (Loss)	509	477
Other Comprehensive Income (Loss), net of tax
Unrealized Gains (Losses) on Available-for-Sale Securities, net of tax (expense) benefit	(3)	(3)
Other Comprehensive Income (Loss), net of tax	(3)	(3)
COMPREHENSIVE INCOME (LOSS)	$ 506	$ 474

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Unrealized Gains (Losses) on Available-for-Sale Securities, tax	$ 39	$ 26
Unrealized Gains (Losses) on Cash Flow Hedges, Tax	0	0
Pension/OPEB adjustment, tax	0	(2)
Public Service Electric and Gas Company [Member]
Unrealized Gains (Losses) on Available-for-Sale Securities, tax	$ 1	$ 1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) shares in Millions, $ in Millions	Mar. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and Cash Equivalents	$ 1,603	$ 818
Accounts Receivable, net of allowance	1,728	1,859
Tax Receivable	8	9
Unbilled Revenues, net of allowance	198	217
Fuel	67	296
Materials and Supplies, net	471	448
Prepayments	100	63
Derivative Contracts	144	72
Regulatory Assets	368	364
Assets Held-for-sale	0	2,060
Other	41	44
Total Current Assets	4,728	6,250
PROPERTY, PLANT AND EQUIPMENT	44,303	43,684
Less: Accumulated Depreciation and Amortization	(9,569)	(9,318)
Net Property, Plant and Equipment	34,734	34,366
NONCURRENT ASSETS
Regulatory Assets	3,671	3,605
Operating Lease, Right-of-Use Asset	195	201
Long-Term Investments	534	541
Nuclear Decommissioning Trust (NDT) Fund	2,491	2,637
Long-Term Tax Receivable	47	47
Long-Term Receivable of Variable Interest Entities (VIEs)	833	828
Rabbi Trust Fund	219	242
Other Intangibles	22	20
Derivative Contracts	49	28
Other	251	234
Total Noncurrent Assets	8,312	8,383
Total Assets	47,774	48,999
CURRENT LIABILITIES
Long-Term Debt Due Within One Year	700	700
Commercial Paper and Loans	1,676	3,519
Accounts Payable	956	1,315
Derivative Contracts	159	17
Accrued Interest	144	121
Accrued Taxes	312	67
Clean Energy Program	87	146
Obligation to Return Cash Collateral	384	179
Regulatory Liabilities	369	388
Liabilities Held-for-Sale	0	144
Other	505	476
Total Current Liabilities	5,292	7,072
NONCURRENT LIABILITIES
Deferred Income Taxes and Investment Tax Credits (ITC)	5,463	5,759
Regulatory Liabilities	2,522	2,497
Operating Leases	184	191
Asset Retirement Obligations	1,586	1,573
Environmental Costs	237	245
Derivative Contracts	23	17
Long-Term Accrued Taxes	66	100
Other	176	184
Total Noncurrent Liabilities	11,916	12,270
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT
Total Long-Term Debt	16,968	15,219
STOCKHOLDER'S EQUITY
Common Stock, Value, Issued	4,978	5,045
Treasury Stock, at cost	(1,336)	(896)
Retained Earnings	10,366	10,639
Accumulated Other Comprehensive Income (Loss)	(410)	(350)
Total Stockholder's Equity	13,598	14,438
Total Capitalization	30,566	29,657
TOTAL LIABILITIES AND CAPITALIZATION	$ 47,774	$ 48,999
Treasury Stock, Shares	37	30
Consolidated Entity Excluding Variable Interest Entities (VIE)
NONCURRENT LIABILITIES
OPEB Costs	$ 568	$ 572
Accrued Pension Costs	273	318
Variable Interest Entity, Primary Beneficiary
NONCURRENT LIABILITIES
OPEB Costs	647	640
Accrued Pension Costs	171	174
Public Service Electric and Gas Company [Member]
CURRENT ASSETS
Cash and Cash Equivalents	910	294
Accounts Receivable, net of allowance	1,189	1,050
Unbilled Revenues, net of allowance	198	217
Materials and Supplies, net	246	233
Prepayments	20	15
Regulatory Assets	368	364
Other	27	33
Total Current Assets	2,958	2,206
PROPERTY, PLANT AND EQUIPMENT	39,136	38,588
Less: Accumulated Depreciation and Amortization	(7,799)	(7,640)
Net Property, Plant and Equipment	31,337	30,948
NONCURRENT ASSETS
Regulatory Assets	3,671	3,605
Operating Lease, Right-of-Use Asset	91	92
Long-Term Investments	175	181
Rabbi Trust Fund	39	43
Other	128	123
Total Noncurrent Assets	4,104	4,044
Total Assets	38,399	37,198
CURRENT LIABILITIES
Accounts Payable	496	571
Accounts Payable-Affiliated Companies	420	418
Accrued Interest	114	107
Clean Energy Program	87	146
Obligation to Return Cash Collateral	384	179
Regulatory Liabilities	369	388
Other	421	376
Total Current Liabilities	2,291	2,185
NONCURRENT LIABILITIES
Deferred Income Taxes and Investment Tax Credits (ITC)	4,990	4,874
Regulatory Liabilities	2,522	2,497
Operating Leases	81	83
Asset Retirement Obligations	363	363
OPEB Costs	348	354
Accrued Pension Costs	105	132
Environmental Costs	184	191
Long-Term Accrued Taxes	6	6
Other	138	145
Total Noncurrent Liabilities	8,737	8,645
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT
Total Long-Term Debt	12,292	11,795
STOCKHOLDER'S EQUITY
Common Stock, Value, Issued	892	892
Contributed Capital	1,170	1,170
Basis Adjustment	986	986
Retained Earnings	12,033	11,524
Accumulated Other Comprehensive Income (Loss)	(2)	1
Total Stockholder's Equity	15,079	14,573
Total Capitalization	27,371	26,368
TOTAL LIABILITIES AND CAPITALIZATION	$ 38,399	$ 37,198

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Accounts Receivable, allowance	$ 341	$ 325
Unbilled Revenues, allowance	$ 10	$ 12
Common Stock, authorized	1,000	1,000
Common Stock, issued	534	534
Treasury Stock, Shares	37	30
Public Service Electric and Gas Company [Member]
Accounts Receivable, allowance	$ 341	$ 325
Unbilled Revenues, allowance	$ 10	$ 12
Common Stock, authorized	150	150
Common Stock, issued	132	132
Common Stock, outstanding	132	132

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ (2)	$ 648
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:
Depreciation and Amortization	283	341
Amortization of Nuclear Fuel	50	49
(Gains) Losses on Asset Dispositions and Impairments	43	0
Emission Allowances and Renewable Energy Credit Compliance Accrual	28	43
Provision for Deferred Income Taxes and ITC	(340)	96
Non-Cash Employee Benefit Plan (Credits) Costs	(60)	(44)
Leveraged Lease (Income), (Gains) and Losses, Adjusted for Rents Received and Deferred Taxes	31	16
Net Realized and Unrealized (Gains) Losses on Energy Contracts and Other Derivatives	847	46
Payments for Removal Costs	(30)	(27)
Net Change in Regulatory Assets and Liabilities	(122)	(28)
Net Realized (Gains) Losses and (Income) Expense from NDT Fund	54	(68)
Net Change in Certain Current Assets and Liabilities:
Tax Receivable	1	66
Accrued Taxes	215	(44)
Margin Deposit	(683)	(44)
Obligation to Return Cash Collateral	205	(4)
Other Current Assets and Liabilities	20	(26)
Employee Benefit Plan Funding and Related Payments	(6)	(3)
Other	62	(10)
Net Cash Provided By (Used In) Operating Activities	472	1,027
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant and Equipment	(686)	(633)
Proceeds from Sale of Trust Investments	501	662
Purchase of Trust Investments	510	660
Proceeds from Sales of Long-Lived Assets and Lease Investments	1,890	0
Other	(12)	7
Net Cash Provided By (Used In) Investing Activities	1,183	(624)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Change in Commercial Paper and Loans	(593)	(598)
Proceeds from Short-Term Loan	0	500
Repayments of Short-term Debt	(1,250)	(300)
Proceeds from Issuance of Other Long-term Debt	1,750	900
Redemption of Long-term Debt	0	(300)
Payments for Share Repurchase Program	(500)	0
Cash Dividends Paid on Common Stock	(271)	(258)
Other	(12)	(78)
Net Cash Provided By (Used In) Financing Activities	(876)	(134)
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash	779	269
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	863	572
Cash, Cash Equivalents and Restricted Cash at End of Period	1,642	841
Supplemental Disclosure of Cash Flow Information:
Income Taxes Paid (Received)	0	(25)
Interest Paid, Net of Amounts Capitalized	115	95
Accrued Property, Plant and Equipment Expenditures	295	258
Public Service Electric and Gas Company [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	509	477
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:
Depreciation and Amortization	241	241
Provision for Deferred Income Taxes and ITC	41	32
Non-Cash Employee Benefit Plan (Credits) Costs	(45)	(39)
Payments for Removal Costs	(30)	(27)
Net Change in Regulatory Assets and Liabilities	(122)	(28)
Net Change in Certain Current Assets and Liabilities:
Accounts Receivable and Unbilled Revenues	(120)	(39)
Fuel, Materials and Supplies	(13)	(3)
Prepayments	(5)	(8)
Obligation to Return Cash Collateral	205	(4)
Accounts Payable	(26)	(99)
Accounts Receivable/Payable-Affiliated Companies, net	86	9
Other Current Assets and Liabilities	44	39
Employee Benefit Plan Funding and Related Payments	(3)	0
Other	26	33
Net Cash Provided By (Used In) Operating Activities	736	518
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant and Equipment	(628)	(586)
Proceeds from Sale of Trust Investments	5	16
Purchase of Trust Investments	4	10
Solar Loan Investments	4	2
Other	2	4
Net Cash Provided By (Used In) Investing Activities	(621)	(574)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Change in Commercial Paper and Loans	0	(100)
Proceeds from Issuance of Other Long-term Debt	500	900
Redemption of Long-term Debt	0	(300)
Other	(5)	(8)
Net Cash Provided By (Used In) Financing Activities	495	492
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash	610	436
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	339	233
Cash, Cash Equivalents and Restricted Cash at End of Period	949	669
Supplemental Disclosure of Cash Flow Information:
Income Taxes Paid (Received)	0	51
Interest Paid, Net of Amounts Capitalized	95	81
Accrued Property, Plant and Equipment Expenditures	$ 245	$ 218

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders Equity Condensed Consolidated Statements of Stockholders Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Public Service Electric and Gas Company [Member]	Public Service Electric and Gas Company [Member]Common Stock [Member]	Public Service Electric and Gas Company [Member]Retained Earnings [Member]	Public Service Electric and Gas Company [Member]AOCI Attributable to Parent [Member]	Public Service Electric and Gas Company [Member]Contributed Capital [Member]	Public Service Electric and Gas Company [Member]Basis Adjustment [Member]
Shares, Outstanding		534	(30)
Total Stockholder's Equity	$ 15,984	$ 5,031	$ (861)	$ 12,318	$ (504)	$ 13,129	$ 892	$ 10,078	$ 3	$ 1,170	$ 986
Net Income	648			648		477		477
Other Comprehensive Income (Loss), Net of Tax	(38)				(38)	(3)			(3)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	610					474
Dividends, Common Stock, Cash	(258)			(258)	0
Stockholders' Equity, Other	(59)	$ (18)	$ (41)	0	0
Stockholders' Equity, Other Shares		0	0
Other Comprehensive Income (Loss), Tax	24					1
Payments for Share Repurchase Program	0
Shares, Outstanding		534	(30)
Total Stockholder's Equity	16,277	$ 5,013	$ (902)	12,708	(542)	13,603	892	10,555	0	1,170	986
Shares, Outstanding		534	(30)
Total Stockholder's Equity	14,438	$ 5,045	$ (896)	10,639	(350)	14,573	892	11,524	1	1,170	986
Net Income	(2)			(2)		509		509
Other Comprehensive Income (Loss), Net of Tax	(60)				(60)	(3)			(3)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(62)					506
Dividends, Common Stock, Cash	(271)			(271)	0
Treasury Stock, Shares, Acquired			(7)
Stockholders' Equity, Other	(7)	$ (17)	$ 10	0	0
Stockholders' Equity, Other Shares		0	0
Other Comprehensive Income (Loss), Tax	39					1
Payments for Share Repurchase Program	(500)	$ (50)	$ (450)
Shares, Outstanding		534	(37)
Total Stockholder's Equity	$ 13,598	$ 4,978	$ (1,336)	$ 10,366	$ (410)	$ 15,079	$ 892	$ 12,033	$ (2)	$ 1,170	$ 986

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders Equity Condensed Consolidated Statements of Stockholders Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Other Comprehensive Income (Loss), Tax	$ 39	$ 24
Common Stock, Dividends, Per Share, Cash Paid	$ 0.54	$ 0.51
Public Service Electric and Gas Company [Member]
Other Comprehensive Income (Loss), Tax	$ 1	$ 1

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization and Basis of Presentation	Organization, Basis of Presentation and Significant Accounting Policies Organization Public Service Enterprise Group Incorporated (PSEG) is a public utility holding company that, acting through its wholly owned subsidiaries, is a predominantly regulated electric and gas utility and a carbon-free generation and infrastructure company. PSEG’s two reportable segments are: • Public Service Electric and Gas Company (PSE&G) —which is a public utility engaged principally in the transmission of electricity and distribution of electricity and natural gas in certain areas of New Jersey. PSE&G is subject to regulation by the New Jersey Board of Public Utilities (BPU) and the Federal Energy Regulatory Commission (FERC). PSE&G also invests in regulated solar generation projects and energy efficiency and related programs in New Jersey, which are regulated by the BPU. • PSEG Power LLC (PSEG Power) —which is an energy supply company that integrates the operations of its merchant nuclear generating assets with its fuel supply functions through competitive energy sales via its principal direct wholly owned subsidiaries. PSEG Power’s subsidiaries are subject to regulation by FERC, the Nuclear Regulatory Commission (NRC), the Environmental Protection Agency (EPA) and the states in which they operate. PSEG’s other direct wholly owned subsidiaries are: PSEG Energy Holdings L.L.C. (Energy Holdings), which holds investments in offshore wind ventures and a legacy portfolio of lease investments; PSEG Long Island LLC (PSEG LI), which operates the Long Island Power Authority’s (LIPA) electric transmission and distribution (T&D) system under an Operations Services Agreement (OSA); and PSEG Services Corporation (Services), which provides certain management, administrative and general services to PSEG and its subsidiaries at cost. In August 2021, PSEG entered into two agreements to sell PSEG Power’s 6,750 megawatts (MW) fossil generating portfolio to newly formed subsidiaries of ArcLight Energy Partners Fund VII, L.P., a fund controlled by ArcLight Capital Partners, LLC. In February 2022, PSEG completed the sale of this fossil generating portfolio. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for more details on the transactions. Basis of Presentation The respective financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) applicable to Quarterly Reports on Form 10-Q. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting guidance generally accepted in the United States (GAAP) have been condensed or omitted pursuant to such rules and regulations. These Condensed Consolidated Financial Statements and Notes to Condensed Consolidated Financial Statements (Notes) should be read in conjunction with, and update and supplement matters discussed in, the Annual Report on Form 10-K for the year ended December 31, 2021. The unaudited condensed consolidated financial information furnished herein reflects all adjustments which are, in the opinion of management, necessary to fairly state the results for the interim periods presented. All such adjustments are of a normal recurring nature. All significant intercompany accounts and transactions are eliminated in consolidation. The year-end Condensed Consolidated Balance Sheets were derived from the audited Consolidated Financial Statements included in the Annual Report on Form 10-K for the year ended December 31, 2021. Significant Accounting Policies Cash, Cash Equivalents and Restricted Cash The following provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts for the beginning (December 31, 2021) and ending periods shown in the Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2022. Restricted cash consists primarily of deposits received related to various construction projects at PSE&G. PSE&G Other (A) Consolidated Millions As of December 31, 2021 Cash and Cash Equivalents $ 294 $ 524 $ 818 Restricted Cash in Other Current Assets 28 — 28 Restricted Cash in Other Noncurrent Assets 17 — 17 Cash, Cash Equivalents and Restricted Cash $ 339 $ 524 $ 863 As of March 31, 2022 Cash and Cash Equivalents $ 910 $ 693 $ 1,603 Restricted Cash in Other Current Assets 22 — 22 Restricted Cash in Other Noncurrent Assets 17 — 17 Cash, Cash Equivalents and Restricted Cash $ 949 $ 693 $ 1,642 (A) Includes amounts applicable to PSEG (parent company), PSEG Power, Energy Holdings and Services. Property, Plant and Equipment In February 2022, the NRC issued an order related to its review of the subsequent license renewal (SLR) application for the Peach Bottom nuclear units. While the NRC had previously granted the SLR to the Peach Bottom units, the NRC was responding to pending motions that had not previously been adjudicated. In its decision, the NRC concluded that the previous environmental review required by the National Environmental Policy Act (NEPA) was incomplete because it did not adequately address environmental impacts resulting from extending the units’ licenses by 20 years. As a result, at the direction of the NRC, the NRC staff changed the expiration dates for the licenses back to 2033 and 2034, until the completion of the NEPA analysis. The NRC directed, however, that the subsequently renewed licenses themselves remain in effect. The NRC also stated that it fully expects that the staff will complete its update of the NEPA analysis before 2033. As such, at this time, PSEG has not adjusted the useful lives or the assumed shutdown probabilities assigned to the Asset Retirement Obligations (ARO) of the units as PSEG believes that the licenses will be updated to reflect the approved 2053 and 2054 expiration dates within the current license period. PSEG will continue to monitor this matter for further developments and any change to the estimated useful lives and ARO probabilities could have an adverse financial statement impact, which may be material.
Public Service Electric and Gas Company [Member]
Organization and Basis of Presentation	Organization, Basis of Presentation and Significant Accounting Policies Organization Public Service Enterprise Group Incorporated (PSEG) is a public utility holding company that, acting through its wholly owned subsidiaries, is a predominantly regulated electric and gas utility and a carbon-free generation and infrastructure company. PSEG’s two reportable segments are: • Public Service Electric and Gas Company (PSE&G) —which is a public utility engaged principally in the transmission of electricity and distribution of electricity and natural gas in certain areas of New Jersey. PSE&G is subject to regulation by the New Jersey Board of Public Utilities (BPU) and the Federal Energy Regulatory Commission (FERC). PSE&G also invests in regulated solar generation projects and energy efficiency and related programs in New Jersey, which are regulated by the BPU. • PSEG Power LLC (PSEG Power) —which is an energy supply company that integrates the operations of its merchant nuclear generating assets with its fuel supply functions through competitive energy sales via its principal direct wholly owned subsidiaries. PSEG Power’s subsidiaries are subject to regulation by FERC, the Nuclear Regulatory Commission (NRC), the Environmental Protection Agency (EPA) and the states in which they operate. PSEG’s other direct wholly owned subsidiaries are: PSEG Energy Holdings L.L.C. (Energy Holdings), which holds investments in offshore wind ventures and a legacy portfolio of lease investments; PSEG Long Island LLC (PSEG LI), which operates the Long Island Power Authority’s (LIPA) electric transmission and distribution (T&D) system under an Operations Services Agreement (OSA); and PSEG Services Corporation (Services), which provides certain management, administrative and general services to PSEG and its subsidiaries at cost. In August 2021, PSEG entered into two agreements to sell PSEG Power’s 6,750 megawatts (MW) fossil generating portfolio to newly formed subsidiaries of ArcLight Energy Partners Fund VII, L.P., a fund controlled by ArcLight Capital Partners, LLC. In February 2022, PSEG completed the sale of this fossil generating portfolio. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for more details on the transactions. Basis of Presentation The respective financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) applicable to Quarterly Reports on Form 10-Q. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting guidance generally accepted in the United States (GAAP) have been condensed or omitted pursuant to such rules and regulations. These Condensed Consolidated Financial Statements and Notes to Condensed Consolidated Financial Statements (Notes) should be read in conjunction with, and update and supplement matters discussed in, the Annual Report on Form 10-K for the year ended December 31, 2021. The unaudited condensed consolidated financial information furnished herein reflects all adjustments which are, in the opinion of management, necessary to fairly state the results for the interim periods presented. All such adjustments are of a normal recurring nature. All significant intercompany accounts and transactions are eliminated in consolidation. The year-end Condensed Consolidated Balance Sheets were derived from the audited Consolidated Financial Statements included in the Annual Report on Form 10-K for the year ended December 31, 2021. Significant Accounting Policies Cash, Cash Equivalents and Restricted Cash The following provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts for the beginning (December 31, 2021) and ending periods shown in the Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2022. Restricted cash consists primarily of deposits received related to various construction projects at PSE&G. PSE&G Other (A) Consolidated Millions As of December 31, 2021 Cash and Cash Equivalents $ 294 $ 524 $ 818 Restricted Cash in Other Current Assets 28 — 28 Restricted Cash in Other Noncurrent Assets 17 — 17 Cash, Cash Equivalents and Restricted Cash $ 339 $ 524 $ 863 As of March 31, 2022 Cash and Cash Equivalents $ 910 $ 693 $ 1,603 Restricted Cash in Other Current Assets 22 — 22 Restricted Cash in Other Noncurrent Assets 17 — 17 Cash, Cash Equivalents and Restricted Cash $ 949 $ 693 $ 1,642 (A) Includes amounts applicable to PSEG (parent company), PSEG Power, Energy Holdings and Services. Property, Plant and Equipment In February 2022, the NRC issued an order related to its review of the subsequent license renewal (SLR) application for the Peach Bottom nuclear units. While the NRC had previously granted the SLR to the Peach Bottom units, the NRC was responding to pending motions that had not previously been adjudicated. In its decision, the NRC concluded that the previous environmental review required by the National Environmental Policy Act (NEPA) was incomplete because it did not adequately address environmental impacts resulting from extending the units’ licenses by 20 years. As a result, at the direction of the NRC, the NRC staff changed the expiration dates for the licenses back to 2033 and 2034, until the completion of the NEPA analysis. The NRC directed, however, that the subsequently renewed licenses themselves remain in effect. The NRC also stated that it fully expects that the staff will complete its update of the NEPA analysis before 2033. As such, at this time, PSEG has not adjusted the useful lives or the assumed shutdown probabilities assigned to the Asset Retirement Obligations (ARO) of the units as PSEG believes that the licenses will be updated to reflect the approved 2053 and 2054 expiration dates within the current license period. PSEG will continue to monitor this matter for further developments and any change to the estimated useful lives and ARO probabilities could have an adverse financial statement impact, which may be material.

Recent Accounting Standards

Recent Accounting Standards	3 Months Ended
	Mar. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Recent Accounting Standards	Recent Accounting Standards New Standards Issued and Adopted Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options — Accounting Standards Update ( ASU) 2021-04 This accounting standard clarifies an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options that remain equity-classified after modification or exchange. It provides guidance on how an issuer would determine whether it should recognize the modification or exchange as an adjustment to equity or an expense. The standard is effective for fiscal years beginning after December 15, 2021. PSEG adopted this standard prospectively on January 1, 2022. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. Lessors-Certain Leases with Variable Lease Payments — ASU 2021-05 This accounting standard improves an area of the lease guidance related to a lessor’s accounting for certain leases with variable lease payments. It amends the lessor lease classification requirements and, as a result, a lessor is now required to classify and account for a lease with variable payments as an operating lease if (i) the lease would have been classified as a sales-type lease or a direct financing lease and (ii) the lessor would have otherwise recognized a day-one loss. A day-one loss or profit is not recognized under operating lease accounting. The standard is effective for fiscal years beginning after December 15, 2021. PSEG adopted this standard prospectively on January 1, 2022. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. Government Assistance — Disclosures by Business Entities about Government Assistance — ASU 2021-10 This accounting standard increases transparency in financial reporting by requiring business entities to disclose, in notes to financial statements, certain information when they (i) have received government assistance and (ii) use a grant or contribution accounting model by analogy to other accounting guidance. The standard is effective for fiscal years beginning after December 15, 2021. PSEG adopted this standard prospectively on January 1, 2022. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. New Standards Issued But Not Yet Adopted as of March 31, 2022 Business Combinations — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers — ASU 2021-08 This accounting standard amends the business combination guidance by requiring entities to apply the revenue recognition standard to recognize and measure contract assets and contract liabilities in a business combination. The standard is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. Amendments in this standard will be applied prospectively to business combinations occurring on or after the effective date of the amendments. PSEG is currently analyzing the impact of this standard on its financial statements. Derivative and Hedging: Fair Value Hedging-Portfolio Layer Method—ASU 2022-01 This accounting standard amends the derivative and hedging guidance on fair value hedge accounting of interest rate risk for portfolios of financial assets. The standard allows entities to expand their use of the portfolio layer method (previously known as the last of layer method) for fair value hedges of interest rate risk. Under this guidance, entities can now hedge all financial assets under the portfolio layer method and designate multiple hedged layers within a single closed portfolio. The standard also clarifies the accounting for fair value hedge basis adjustments in portfolio layer hedges and how these adjustments should be disclosed. The standard is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. Amendments in this standard will be applied: (i) prospectively to designation of multiple hedged layers of a single closed portfolio, (ii) on a modified retrospective basis for amendments related to hedge basis adjustments under the portfolio layer method, and (iii) on a prospective or retrospective basis for the amendments related to disclosures. PSEG is currently analyzing the impact of this standard on its financial statements. Financial Instruments — Credit Losses: Troubled Debt Restructurings and Vintage Disclosures—ASU 2022-02 This accounting standard eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the current expected credit losses guidance and enhances the disclosure requirements for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficulty. It also amends the guidance on vintage disclosures to require disclosure of current-period gross write-offs by year of origination for financing receivables and net investment in leases. The standard is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. Amendments in this standard will be applied prospectively, except for the transition method related to the recognition and measurement of troubled debt restructurings where there is an option to apply a modified retrospective transition method. PSEG is currently analyzing the impact of this standard on its financial statements.
Public Service Electric and Gas Company [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Recent Accounting Standards	Recent Accounting Standards New Standards Issued and Adopted Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options — Accounting Standards Update ( ASU) 2021-04 This accounting standard clarifies an issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options that remain equity-classified after modification or exchange. It provides guidance on how an issuer would determine whether it should recognize the modification or exchange as an adjustment to equity or an expense. The standard is effective for fiscal years beginning after December 15, 2021. PSEG adopted this standard prospectively on January 1, 2022. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. Lessors-Certain Leases with Variable Lease Payments — ASU 2021-05 This accounting standard improves an area of the lease guidance related to a lessor’s accounting for certain leases with variable lease payments. It amends the lessor lease classification requirements and, as a result, a lessor is now required to classify and account for a lease with variable payments as an operating lease if (i) the lease would have been classified as a sales-type lease or a direct financing lease and (ii) the lessor would have otherwise recognized a day-one loss. A day-one loss or profit is not recognized under operating lease accounting. The standard is effective for fiscal years beginning after December 15, 2021. PSEG adopted this standard prospectively on January 1, 2022. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. Government Assistance — Disclosures by Business Entities about Government Assistance — ASU 2021-10 This accounting standard increases transparency in financial reporting by requiring business entities to disclose, in notes to financial statements, certain information when they (i) have received government assistance and (ii) use a grant or contribution accounting model by analogy to other accounting guidance. The standard is effective for fiscal years beginning after December 15, 2021. PSEG adopted this standard prospectively on January 1, 2022. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. New Standards Issued But Not Yet Adopted as of March 31, 2022 Business Combinations — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers — ASU 2021-08 This accounting standard amends the business combination guidance by requiring entities to apply the revenue recognition standard to recognize and measure contract assets and contract liabilities in a business combination. The standard is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. Amendments in this standard will be applied prospectively to business combinations occurring on or after the effective date of the amendments. PSEG is currently analyzing the impact of this standard on its financial statements. Derivative and Hedging: Fair Value Hedging-Portfolio Layer Method—ASU 2022-01 This accounting standard amends the derivative and hedging guidance on fair value hedge accounting of interest rate risk for portfolios of financial assets. The standard allows entities to expand their use of the portfolio layer method (previously known as the last of layer method) for fair value hedges of interest rate risk. Under this guidance, entities can now hedge all financial assets under the portfolio layer method and designate multiple hedged layers within a single closed portfolio. The standard also clarifies the accounting for fair value hedge basis adjustments in portfolio layer hedges and how these adjustments should be disclosed. The standard is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. Amendments in this standard will be applied: (i) prospectively to designation of multiple hedged layers of a single closed portfolio, (ii) on a modified retrospective basis for amendments related to hedge basis adjustments under the portfolio layer method, and (iii) on a prospective or retrospective basis for the amendments related to disclosures. PSEG is currently analyzing the impact of this standard on its financial statements. Financial Instruments — Credit Losses: Troubled Debt Restructurings and Vintage Disclosures—ASU 2022-02 This accounting standard eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the current expected credit losses guidance and enhances the disclosure requirements for certain loan refinancings and restructurings by creditors made to borrowers experiencing financial difficulty. It also amends the guidance on vintage disclosures to require disclosure of current-period gross write-offs by year of origination for financing receivables and net investment in leases. The standard is effective for fiscal years beginning after December 15, 2022 and early adoption is permitted. Amendments in this standard will be applied prospectively, except for the transition method related to the recognition and measurement of troubled debt restructurings where there is an option to apply a modified retrospective transition method. PSEG is currently analyzing the impact of this standard on its financial statements.

Revenues Revenues

Revenues Revenues	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Text Block]	Revenues Nature of Goods and Services The following is a description of principal activities by which PSEG and its subsidiaries generate their revenues. PSE&G Revenues from Contracts with Customers Electric and Gas Distribution and Transmission Revenues —PSE&G sells gas and electricity to customers under default commodity supply tariffs. PSE&G’s regulated electric and gas default commodity supply and distribution services are separate tariffs which are satisfied as the product(s) and/or service(s) are delivered to the customer. The electric and gas commodity and delivery tariffs are recurring contracts in effect until modified through the regulatory approval process as appropriate. Revenue is recognized over time as the service is rendered to the customer. Included in PSE&G’s regulated revenues are unbilled electric and gas revenues which represent the estimated amount customers will be billed for services rendered from the most recent meter reading to the end of the respective accounting period. PSE&G’s transmission revenues are earned under a separate tariff using a FERC-approved annual formula rate mechanism. The performance obligation of transmission service is satisfied and revenue is recognized as it is provided to the customer. The formula rate mechanism provides for an annual filing of an estimated revenue requirement with rates effective January 1 of each year and a true-up to that estimate based on actual revenue requirements. The true-up mechanism is an alternative revenue which is outside the scope of revenue from contracts with customers. Other Revenues from Contracts with Customers Other revenues from contracts with customers, which are not a material source of PSE&G revenues, are generated primarily from appliance repair services and solar generation projects. The performance obligations under these contracts are satisfied and revenue is recognized as control of products is delivered or services are rendered. Payment for services rendered and products transferred are typically due on average within 30 days of delivery. Revenues Unrelated to Contracts with Customers Other PSE&G revenues unrelated to contracts with customers are derived from alternative revenue mechanisms recorded pursuant to regulatory accounting guidance. These revenues, which include the Conservation Incentive Program (CIP), green energy program true-ups and transmission formula rate true-ups, are not a material source of PSE&G revenues. Other Revenues from Contracts with Customers Electricity and Related Products —Wholesale load contracts have been executed in the different Independent System Operator (ISO) regions for the bundled supply of energy, capacity, renewable energy credits and ancillary services representing PSEG Power’s performance obligations. Revenue for these contracts is recognized over time as the bundled service is provided to the customer. Transaction terms generally run from several months to three years. PSEG Power also sells to the ISOs energy and ancillary services which are separately transacted in the day-ahead or real-time energy markets. The energy and ancillary services performance obligations are typically satisfied over time as delivered and revenue is recognized accordingly. PSEG generally reports electricity sales and purchases conducted with those individual ISOs net on an hourly basis in either Operating Revenues or Energy Costs in its Condensed Consolidated Statements of Operations. The classification depends on the net hourly activity. PSEG Power enters into capacity sales and capacity purchases through the ISOs. The transactions are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position through the individual ISOs. The performance obligations with the ISOs are satisfied over time upon delivery of the capacity and revenue is recognized accordingly. In addition to capacity sold through the ISOs, PSEG Power sells capacity through bilateral contracts and the related revenue is reported on a gross basis and recognized over time upon delivery of the capacity. PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants have been awarded Zero Emission Certificates (ZECs) by the BPU through May 2025. These nuclear plants are expected to receive ZEC revenue from the electric distribution companies (EDCs) in New Jersey. PSEG Power recognizes revenue when the units generate electricity, which is when the performance obligation is satisfied. These revenues are included in PJM Sales in the following tables. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. Gas Contracts —PSEG Power sells wholesale natural gas, primarily through an index based full-requirements Basic Gas Supply Service (BGSS) contract with PSE&G to meet the gas supply requirements of PSE&G’s customers. The BGSS contract remains in effect unless terminated by either party with a two-year notice. The performance obligation is primarily delivery of gas which is satisfied over time. Revenue is recognized as gas is delivered. Based upon the availability of natural gas, storage and pipeline capacity beyond PSE&G’s daily needs, PSEG Power also sells gas and pipeline capacity to other counterparties under bilateral contracts. The performance obligation under these contracts is satisfied over time upon delivery of the gas or capacity, and revenue is recognized accordingly. PSEG LI Contract —PSEG LI has a contract with LIPA which generates revenues. PSEG LI’s subsidiary, Long Island Electric Utility Servco, LLC (Servco) records costs which are recovered from LIPA and records the recovery of those costs as revenues when Servco is a principal in the transaction. Other Revenues from Contracts with Customers Prior to the sale of Solar Source in June 2021, PSEG Power entered into bilateral contracts to sell solar power and solar renewable energy certificates (SRECs) from its solar facilities. Contract terms ranged from 15 to 30 years. The performance obligations were generally solar power and SRECs which were transferred to customers upon generation. Revenue was recognized upon generation of the solar power. PSEG Power has entered into long-term contracts with LIPA for energy management and fuel procurement services. Revenue is recognized over time as services are rendered. Revenues Unrelated to Contracts with Customers PSEG Power’s revenues unrelated to contracts with customers include electric, gas and certain energy-related transactions accounted for in accordance with Derivatives and Hedging accounting guidance. See Note 13. Financial Risk Management Activities for further discussion. Prior to the sale of Solar Source, PSEG Power was also a party to solar contracts that qualified as leases and were accounted for in accordance with lease accounting guidance. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments. Energy Holdings generates lease revenues which are recorded pursuant to lease accounting guidance. Disaggregation of Revenues PSE&G Other (A) Eliminations Consolidated Millions Three Months Ended March 31, 2022 Revenues from Contracts with Customers Electric Distribution $ 720 $ — $ — $ 720 Gas Distribution 1,047 — (1) 1,046 Transmission 392 — — 392 Electricity and Related Product Sales PJM Third-Party Sales — 582 — 582 Sales to Affiliates — 56 (56) — New York ISO — 88 — 88 ISO New England — 86 — 86 Gas Sales Third-Party Sales — 136 — 136 Sales to Affiliates — 526 (526) — Other Revenues from Contracts with Customers (B) 85 146 (1) 230 Total Revenues from Contracts with Customers 2,244 1,620 (584) 3,280 Revenues Unrelated to Contracts with Customers (C) 40 (1,007) — (967) Total Operating Revenues $ 2,284 $ 613 $ (584) $ 2,313 PSE&G Other (A) Eliminations Consolidated Millions Three Months Ended March 31, 2021 Revenues from Contracts with Customers Electric Distribution $ 707 $ — $ — $ 707 Gas Distribution 896 — (3) 893 Transmission 399 — — 399 Electricity and Related Product Sales PJM Third-Party Sales — 471 — 471 Sales to Affiliates — 88 (88) — New York ISO — 48 — 48 ISO New England — 51 — 51 Gas Sales Third-Party Sales — 60 — 60 Sales to Affiliates — 410 (410) — Other Revenues from Contracts with Customers (B) 75 151 (1) 225 Total Revenues from Contracts with Customers 2,077 1,279 (502) 2,854 Revenues Unrelated to Contracts with Customers (C) (4) 39 — 35 Total Operating Revenues $ 2,073 $ 1,318 $ (502) $ 2,889 (A) Other consists of revenues at PSEG Power, Energy Holdings and PSEG LI. (B) Includes primarily revenues from appliance repair services and the sale of SRECs at auction at PSE&G, PSEG Power’s energy management fee with LIPA and PSEG LI’s OSA with LIPA in Other. Other also includes PSEG Power’s solar power projects in 2021. (C) Includes primarily alternative revenues at PSE&G, derivative contracts and lease contracts in Other. Contract Balances PSE&G PSE&G did not have any material contract balances (rights to consideration for services already provided or obligations to provide services in the future for consideration already received) as of March 31, 2022 and December 31, 2021. Substantially all of PSE&G’s accounts receivable and unbilled revenues result from contracts with customers that are priced at tariff rates. Allowances represented approximately 20% and 21% of accounts receivable (including unbilled revenues) as of March 31, 2022 and December 31, 2021, respectively. Accounts Receivable — Allowance for Credit Losses PSE&G’s accounts receivable, including unbilled revenues, is primarily comprised of utility customer receivables for the provision of electric and gas service and appliance services, and are reported in the balance sheet as gross outstanding amounts adjusted for an allowance for credit losses. The allowance for credit losses reflects PSE&G’s best estimate of losses on the account balances. The allowance is based on PSE&G’s projection of accounts receivable aging, historical experience, economic factors and other currently available evidence, including the estimated impact of the ongoing coronavirus pandemic (COVID-19) on the outstanding balances as of March 31, 2022. PSE&G’s electric bad debt expense is recoverable through its Societal Benefits Clause mechanism. As of March 31, 2022, PSE&G has a deferred balance of $145 million from electric bad debts recorded as a Regulatory Asset. In addition, PSE&G has deferred incremental gas bad debt expense of $66 million as a Regulatory Asset for future regulatory recovery due to the impact of the ongoing pandemic. See Note 6. Rate Filings for additional information. The following provides a reconciliation of PSE&G’s allowance for credit losses for the three months ended March 31, 2022 and 2021: 2022 2021 Millions Balance at Beginning of Year $ 337 $ 206 Utility Customer and Other Accounts Provision 33 44 Write-offs, net of Recoveries of $8 million and $2 million in 2022 and 2021, respectively (19) (11) Balance at End of Period $ 351 $ 239 Other PSEG Power generally collects consideration upon satisfaction of performance obligations, and therefore, PSEG Power had no material contract balances as of March 31, 2022 and December 31, 2021. PSEG Power’s accounts receivable include amounts resulting from contracts with customers and other contracts which are out of scope of accounting guidance for revenues from contracts with customers. The majority of these accounts receivable are subject to master netting agreements. As a result, accounts receivable resulting from contracts with customers and receivables unrelated to contracts with customers are netted within Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets. PSEG Power’s accounts receivable consist mainly of revenues from wholesale load contracts and capacity sales which are executed in the different ISO regions. PSEG Power also sells energy and ancillary services directly to ISOs and other counterparties. In the wholesale energy markets in which PSEG Power operates, payment for services rendered and products transferred are typically due within 30 days of delivery. As such, there is little credit risk associated with these receivables. PSEG Power did not record an allowance for credit losses for these receivables as of March 31, 2022 or December 31, 2021. PSEG Power monitors the status of its counterparties on an ongoing basis to assess whether there are any anticipated credit losses. PSEG LI did not have any material contract balances as of March 31, 2022 and December 31, 2021. Remaining Performance Obligations under Fixed Consideration Contracts PSEG primarily records revenues as allowed by the guidance, which states that if an entity has a right to consideration from a customer in an amount that corresponds directly with the value to the customer of the entity’s performance completed to date, the entity may recognize revenue in the amount to which the entity has a right to invoice. PSEG has future performance obligations under contracts with fixed consideration as follows: As previously stated, capacity transactions with ISOs are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position through the individual ISOs. 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 2022/2023 auction was held in June 2021 and the 2023/2024 auction will be held in June 2022. 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 MW-Day MW Cleared June 2021 to May 2022 $142 3,700 June 2022 to May 2023 $97 3,300 Bilateral capacity contracts —Capacity obligations pursuant to contract terms through 2029 are anticipated to result in revenues totaling $56 million. Amended OSA —In April 2022, PSEG LI entered into an amended OSA with LIPA. The OSA remains a 12-year services contract ending in 2025 with annual fixed and variable components. The fixed fee for the provision of services thereunder in 2022 is approximately $40 million and is updated each year based on the change in the Consumer Price Index.
Public Service Electric and Gas Company [Member]
Revenue from Contract with Customer [Text Block]	Revenues Nature of Goods and Services The following is a description of principal activities by which PSEG and its subsidiaries generate their revenues. PSE&G Revenues from Contracts with Customers Electric and Gas Distribution and Transmission Revenues —PSE&G sells gas and electricity to customers under default commodity supply tariffs. PSE&G’s regulated electric and gas default commodity supply and distribution services are separate tariffs which are satisfied as the product(s) and/or service(s) are delivered to the customer. The electric and gas commodity and delivery tariffs are recurring contracts in effect until modified through the regulatory approval process as appropriate. Revenue is recognized over time as the service is rendered to the customer. Included in PSE&G’s regulated revenues are unbilled electric and gas revenues which represent the estimated amount customers will be billed for services rendered from the most recent meter reading to the end of the respective accounting period. PSE&G’s transmission revenues are earned under a separate tariff using a FERC-approved annual formula rate mechanism. The performance obligation of transmission service is satisfied and revenue is recognized as it is provided to the customer. The formula rate mechanism provides for an annual filing of an estimated revenue requirement with rates effective January 1 of each year and a true-up to that estimate based on actual revenue requirements. The true-up mechanism is an alternative revenue which is outside the scope of revenue from contracts with customers. Other Revenues from Contracts with Customers Other revenues from contracts with customers, which are not a material source of PSE&G revenues, are generated primarily from appliance repair services and solar generation projects. The performance obligations under these contracts are satisfied and revenue is recognized as control of products is delivered or services are rendered. Payment for services rendered and products transferred are typically due on average within 30 days of delivery. Revenues Unrelated to Contracts with Customers Other PSE&G revenues unrelated to contracts with customers are derived from alternative revenue mechanisms recorded pursuant to regulatory accounting guidance. These revenues, which include the Conservation Incentive Program (CIP), green energy program true-ups and transmission formula rate true-ups, are not a material source of PSE&G revenues. Other Revenues from Contracts with Customers Electricity and Related Products —Wholesale load contracts have been executed in the different Independent System Operator (ISO) regions for the bundled supply of energy, capacity, renewable energy credits and ancillary services representing PSEG Power’s performance obligations. Revenue for these contracts is recognized over time as the bundled service is provided to the customer. Transaction terms generally run from several months to three years. PSEG Power also sells to the ISOs energy and ancillary services which are separately transacted in the day-ahead or real-time energy markets. The energy and ancillary services performance obligations are typically satisfied over time as delivered and revenue is recognized accordingly. PSEG generally reports electricity sales and purchases conducted with those individual ISOs net on an hourly basis in either Operating Revenues or Energy Costs in its Condensed Consolidated Statements of Operations. The classification depends on the net hourly activity. PSEG Power enters into capacity sales and capacity purchases through the ISOs. The transactions are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position through the individual ISOs. The performance obligations with the ISOs are satisfied over time upon delivery of the capacity and revenue is recognized accordingly. In addition to capacity sold through the ISOs, PSEG Power sells capacity through bilateral contracts and the related revenue is reported on a gross basis and recognized over time upon delivery of the capacity. PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants have been awarded Zero Emission Certificates (ZECs) by the BPU through May 2025. These nuclear plants are expected to receive ZEC revenue from the electric distribution companies (EDCs) in New Jersey. PSEG Power recognizes revenue when the units generate electricity, which is when the performance obligation is satisfied. These revenues are included in PJM Sales in the following tables. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. Gas Contracts —PSEG Power sells wholesale natural gas, primarily through an index based full-requirements Basic Gas Supply Service (BGSS) contract with PSE&G to meet the gas supply requirements of PSE&G’s customers. The BGSS contract remains in effect unless terminated by either party with a two-year notice. The performance obligation is primarily delivery of gas which is satisfied over time. Revenue is recognized as gas is delivered. Based upon the availability of natural gas, storage and pipeline capacity beyond PSE&G’s daily needs, PSEG Power also sells gas and pipeline capacity to other counterparties under bilateral contracts. The performance obligation under these contracts is satisfied over time upon delivery of the gas or capacity, and revenue is recognized accordingly. PSEG LI Contract —PSEG LI has a contract with LIPA which generates revenues. PSEG LI’s subsidiary, Long Island Electric Utility Servco, LLC (Servco) records costs which are recovered from LIPA and records the recovery of those costs as revenues when Servco is a principal in the transaction. Other Revenues from Contracts with Customers Prior to the sale of Solar Source in June 2021, PSEG Power entered into bilateral contracts to sell solar power and solar renewable energy certificates (SRECs) from its solar facilities. Contract terms ranged from 15 to 30 years. The performance obligations were generally solar power and SRECs which were transferred to customers upon generation. Revenue was recognized upon generation of the solar power. PSEG Power has entered into long-term contracts with LIPA for energy management and fuel procurement services. Revenue is recognized over time as services are rendered. Revenues Unrelated to Contracts with Customers PSEG Power’s revenues unrelated to contracts with customers include electric, gas and certain energy-related transactions accounted for in accordance with Derivatives and Hedging accounting guidance. See Note 13. Financial Risk Management Activities for further discussion. Prior to the sale of Solar Source, PSEG Power was also a party to solar contracts that qualified as leases and were accounted for in accordance with lease accounting guidance. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments. Energy Holdings generates lease revenues which are recorded pursuant to lease accounting guidance. Disaggregation of Revenues PSE&G Other (A) Eliminations Consolidated Millions Three Months Ended March 31, 2022 Revenues from Contracts with Customers Electric Distribution $ 720 $ — $ — $ 720 Gas Distribution 1,047 — (1) 1,046 Transmission 392 — — 392 Electricity and Related Product Sales PJM Third-Party Sales — 582 — 582 Sales to Affiliates — 56 (56) — New York ISO — 88 — 88 ISO New England — 86 — 86 Gas Sales Third-Party Sales — 136 — 136 Sales to Affiliates — 526 (526) — Other Revenues from Contracts with Customers (B) 85 146 (1) 230 Total Revenues from Contracts with Customers 2,244 1,620 (584) 3,280 Revenues Unrelated to Contracts with Customers (C) 40 (1,007) — (967) Total Operating Revenues $ 2,284 $ 613 $ (584) $ 2,313 PSE&G Other (A) Eliminations Consolidated Millions Three Months Ended March 31, 2021 Revenues from Contracts with Customers Electric Distribution $ 707 $ — $ — $ 707 Gas Distribution 896 — (3) 893 Transmission 399 — — 399 Electricity and Related Product Sales PJM Third-Party Sales — 471 — 471 Sales to Affiliates — 88 (88) — New York ISO — 48 — 48 ISO New England — 51 — 51 Gas Sales Third-Party Sales — 60 — 60 Sales to Affiliates — 410 (410) — Other Revenues from Contracts with Customers (B) 75 151 (1) 225 Total Revenues from Contracts with Customers 2,077 1,279 (502) 2,854 Revenues Unrelated to Contracts with Customers (C) (4) 39 — 35 Total Operating Revenues $ 2,073 $ 1,318 $ (502) $ 2,889 (A) Other consists of revenues at PSEG Power, Energy Holdings and PSEG LI. (B) Includes primarily revenues from appliance repair services and the sale of SRECs at auction at PSE&G, PSEG Power’s energy management fee with LIPA and PSEG LI’s OSA with LIPA in Other. Other also includes PSEG Power’s solar power projects in 2021. (C) Includes primarily alternative revenues at PSE&G, derivative contracts and lease contracts in Other. Contract Balances PSE&G PSE&G did not have any material contract balances (rights to consideration for services already provided or obligations to provide services in the future for consideration already received) as of March 31, 2022 and December 31, 2021. Substantially all of PSE&G’s accounts receivable and unbilled revenues result from contracts with customers that are priced at tariff rates. Allowances represented approximately 20% and 21% of accounts receivable (including unbilled revenues) as of March 31, 2022 and December 31, 2021, respectively. Accounts Receivable — Allowance for Credit Losses PSE&G’s accounts receivable, including unbilled revenues, is primarily comprised of utility customer receivables for the provision of electric and gas service and appliance services, and are reported in the balance sheet as gross outstanding amounts adjusted for an allowance for credit losses. The allowance for credit losses reflects PSE&G’s best estimate of losses on the account balances. The allowance is based on PSE&G’s projection of accounts receivable aging, historical experience, economic factors and other currently available evidence, including the estimated impact of the ongoing coronavirus pandemic (COVID-19) on the outstanding balances as of March 31, 2022. PSE&G’s electric bad debt expense is recoverable through its Societal Benefits Clause mechanism. As of March 31, 2022, PSE&G has a deferred balance of $145 million from electric bad debts recorded as a Regulatory Asset. In addition, PSE&G has deferred incremental gas bad debt expense of $66 million as a Regulatory Asset for future regulatory recovery due to the impact of the ongoing pandemic. See Note 6. Rate Filings for additional information. The following provides a reconciliation of PSE&G’s allowance for credit losses for the three months ended March 31, 2022 and 2021: 2022 2021 Millions Balance at Beginning of Year $ 337 $ 206 Utility Customer and Other Accounts Provision 33 44 Write-offs, net of Recoveries of $8 million and $2 million in 2022 and 2021, respectively (19) (11) Balance at End of Period $ 351 $ 239 Other PSEG Power generally collects consideration upon satisfaction of performance obligations, and therefore, PSEG Power had no material contract balances as of March 31, 2022 and December 31, 2021. PSEG Power’s accounts receivable include amounts resulting from contracts with customers and other contracts which are out of scope of accounting guidance for revenues from contracts with customers. The majority of these accounts receivable are subject to master netting agreements. As a result, accounts receivable resulting from contracts with customers and receivables unrelated to contracts with customers are netted within Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets. PSEG Power’s accounts receivable consist mainly of revenues from wholesale load contracts and capacity sales which are executed in the different ISO regions. PSEG Power also sells energy and ancillary services directly to ISOs and other counterparties. In the wholesale energy markets in which PSEG Power operates, payment for services rendered and products transferred are typically due within 30 days of delivery. As such, there is little credit risk associated with these receivables. PSEG Power did not record an allowance for credit losses for these receivables as of March 31, 2022 or December 31, 2021. PSEG Power monitors the status of its counterparties on an ongoing basis to assess whether there are any anticipated credit losses. PSEG LI did not have any material contract balances as of March 31, 2022 and December 31, 2021. Remaining Performance Obligations under Fixed Consideration Contracts PSEG primarily records revenues as allowed by the guidance, which states that if an entity has a right to consideration from a customer in an amount that corresponds directly with the value to the customer of the entity’s performance completed to date, the entity may recognize revenue in the amount to which the entity has a right to invoice. PSEG has future performance obligations under contracts with fixed consideration as follows: As previously stated, capacity transactions with ISOs are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position through the individual ISOs. 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 2022/2023 auction was held in June 2021 and the 2023/2024 auction will be held in June 2022. 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 MW-Day MW Cleared June 2021 to May 2022 $142 3,700 June 2022 to May 2023 $97 3,300 Bilateral capacity contracts —Capacity obligations pursuant to contract terms through 2029 are anticipated to result in revenues totaling $56 million. Amended OSA —In April 2022, PSEG LI entered into an amended OSA with LIPA. The OSA remains a 12-year services contract ending in 2025 with annual fixed and variable components. The fixed fee for the provision of services thereunder in 2022 is approximately $40 million and is updated each year based on the change in the Consumer Price Index.

Early Plant Retirements_Asset D

Early Plant Retirements/Asset Dispositions Early Plant Retirements/Asset Dispositions	3 Months Ended
	Mar. 31, 2022
Early Plant Retirements [Abstract]
Early Plant Retirements/Asset Dispositions	Early Plant Retirements/Asset Dispositions and Impairments Nuclear In April 2019, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants were awarded ZECs by the BPU. Pursuant to a process established by the BPU, ZECs are purchased from selected nuclear plants and recovered through a non-bypassable distribution charge in the amount of $0.004 per kilowatt-hour (KWh) used (which is equivalent to approximately $10 per megawatt hour (MWh) generated in payments to selected nuclear plants (ZEC payment)). Each nuclear plant is receiving ZEC revenue for approximately three years, through May 2022. In April 2021, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants were awarded ZECs for the three-year eligibility period starting June 2022 at the same approximate $10 per MWh received during the current ZEC period through May 2022 referenced above. As a result, each nuclear plant is expected to receive ZEC revenue for an additional three years starting June 2022. The terms and conditions of this April 2021 ZEC award are the same as the current ZEC period as discussed above. The award of ZECs attaches certain obligations, including an obligation to repay the ZECs in the event that a plant ceases operations during the period that it was awarded ZECs, subject to certain exceptions specified in the ZEC legislation. PSEG Power has and will continue to recognize revenue monthly as the nuclear plants generate electricity and satisfy their performance obligations. Further, the ZEC payment may be adjusted by the BPU at any time to offset environmental or fuel diversity payments that a selected nuclear plant may receive from another source. For instance, the New Jersey Division of Rate Counsel (New Jersey Rate Counsel), in written comments filed with the BPU, has advocated for the BPU to offset market benefits resulting from New Jersey’s rejoining the Regional Greenhouse Gas Initiative from the ZEC payment. PSEG intends to vigorously defend against these arguments. Due to its preliminary nature, PSEG cannot predict the outcome of this matter. In May 2021, the New Jersey Rate Counsel filed an appeal with the New Jersey Appellate Division of the BPU’s April 2021 decision. PSEG cannot predict the outcome of this matter. In the event that (i) the ZEC program is overturned or is otherwise materially adversely modified through legal process; or (ii) any of the Salem 1, Salem 2 and Hope Creek plants is not sufficiently valued for its environmental, fuel diversity or resilience attributes in future periods and does not otherwise experience a material financial change that would remove the need for such attributes to be sufficiently valued, PSEG Power will take all necessary steps to cease to operate all of these plants. Alternatively, even with sufficient valuation of these attributes, if the financial condition of the plants is materially adversely impacted by changes in commodity prices, FERC’s changes to the capacity market construct (absent sufficient capacity revenues provided under a program approved by the BPU in accordance with a FERC-authorized capacity mechanism), or, in the case of the Salem nuclear plants, decisions by the EPA and state environmental regulators regarding the implementation of Section 316(b) of the Clean Water Act (CWA) and related state regulations, or other factors, PSEG Power will take all necessary steps to cease to operate all of these plants and will incur associated costs and accounting charges. These may include, among other things, one-time impairment charges or accelerated Depreciation and Amortization Expense on the remaining carrying value of the plants, potential penalties associated with the early termination of capacity obligations and fuel contracts, accelerated asset retirement costs, severance costs, environmental remediation costs and, in certain circumstances potential additional funding of the Nuclear Decommissioning Trust Fund, which would result in a material adverse impact on PSEG’s results of operations. Non-Nuclear In August 2021, PSEG entered into two agreements to sell PSEG Power’s 6,750 MW fossil generating portfolio, one agreement for the sale of assets in New Jersey and Maryland and another agreement for the sale of assets located in New York and Connecticut, to newly formed subsidiaries of ArcLight Energy Partners Fund VII, L.P., a fund controlled by ArcLight Capital Partners, LLC for aggregate consideration of approximately $1,920 million. In February 2022, PSEG completed the sale of this fossil generating portfolio. PSEG Power has retained ownership of certain assets and liabilities excluded from the transactions primarily related to obligations under certain environmental regulations, including possible remediation obligations under the New Jersey Industrial Site Recovery Act and the Connecticut Transfer Act. The amounts for any such environmental remediation are not currently estimable, but may be material. In 2021, PSEG had recorded a pre-tax impairment loss on sale of approximately $2,691 million as the purchase price was lower than the carrying value. As defined in each agreement, further adjustments were required as a result of purchase price and working capital adjustments, including an adjustment for positive or negative cash flow of the fossil generating assets based on actual performance starting after December 31, 2021 through the respective closing dates. As a result, in 2022, PSEG Power recorded an additional pre-tax impairment of approximately $43 million. Further amounts may be recorded as a result of any

Variable Interest Entities (VIE

Variable Interest Entities (VIEs)	3 Months Ended
	Mar. 31, 2022
Variable Interest Entity [Line Items]
Variable Interest Entities (VIEs)	Variable Interest Entities (VIEs) VIE for which PSEG LI is the Primary Beneficiary PSEG LI consolidates Servco, a marginally capitalized VIE, which was created for the purpose of operating LIPA’s T&D system in Long Island, New York as well as providing administrative support functions to LIPA. PSEG LI is the primary beneficiary of Servco because it directs the operations of Servco, the activity that most significantly impacts Servco’s economic performance and it has the obligation to absorb losses of Servco that could potentially be significant to Servco. Such losses would be immaterial to PSEG. Pursuant to the OSA, Servco’s operating costs are paid entirely by LIPA, and therefore, PSEG LI’s risk is limited related to the activities of Servco. PSEG LI has no current obligation to provide direct financial support to Servco. In addition to payment of Servco’s operating costs as provided for in the OSA, PSEG LI receives an annual contract management fee. PSEG LI’s annual contractual management fee, in certain situations, could be partially offset by Servco’s annual storm costs not approved by the Federal Emergency Management Agency, limited contingent liabilities and penalties for failing to meet certain performance metrics. For transactions in which Servco acts as principal and controls the services provided to LIPA, such as transactions with its employees for labor and labor-related activities, including pension and OPEB-related transactions, Servco records revenues and the related pass-through expenditures separately in Operating Revenues and Operation and Maintenance (O&M) Expense, respectively. Servco recorded $123 million for each of the three months ended March 31, 2022 and 2021 of O&M costs, the full reimbursement of which was reflected in Operating Revenues. For transactions in which Servco acts as an agent for LIPA, it records revenues and the related expenses on a net basis, resulting in no impact on PSEG’s Condensed Consolidated Statement of Operations. VIE for which PSEG is not the Primary Beneficiary

Rate Filings

Rate Filings	3 Months Ended
	Mar. 31, 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 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 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. 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 solid state electric meters by the end of 2024. As of March 31, 2022 and December 31, 2021, the net book value of these meters was $188 million and $192 million, respectively. The filing also approved the recovery of and on the stranded costs associated with the retirement of the existing meters. COVID-19 Deferral— PSE&G continues to make quarterly filings as required by the BPU and has recorded a Regulatory Asset as of March 31, 2022 of approximately $120 million for net incremental costs, including $66 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 April 2022, PSE&G updated its pending Energy Strong II petition to request a change in its previously filed electric revenue requirement. The updated petition seeks annual electric and gas revenue increases of $17 million and $1 million, respectively, with rates effective no earlier than May 1, 2022. This matter is pending. Gas System Modernization Program (GSMP II)— In March 2022, PSE&G updated its petition previously filed in December 2021 seeking BPU approval to recover in gas base rates an annual revenue increase of approximately $25 million effective June 1, 2022 representing the return on and of GSMP II investments placed in service through February 2022. Remediation Adjustment Charge (RAC)— In March 2022, PSE&G filed its RAC 29 petition with the BPU seeking recovery of $44 million of net Manufactured Gas Plant (MGP) remediation expenditures incurred from August 1, 2020 through July 31, 2021. This matter is pending. ZEC Program— In April 2022, the BPU approved PSE&G’s petition to refund a total of $4 million, including interest, for overcollections resulting from the ZEC program for the energy year ended May 31, 2021.
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 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 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. 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 solid state electric meters by the end of 2024. As of March 31, 2022 and December 31, 2021, the net book value of these meters was $188 million and $192 million, respectively. The filing also approved the recovery of and on the stranded costs associated with the retirement of the existing meters. COVID-19 Deferral— PSE&G continues to make quarterly filings as required by the BPU and has recorded a Regulatory Asset as of March 31, 2022 of approximately $120 million for net incremental costs, including $66 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 April 2022, PSE&G updated its pending Energy Strong II petition to request a change in its previously filed electric revenue requirement. The updated petition seeks annual electric and gas revenue increases of $17 million and $1 million, respectively, with rates effective no earlier than May 1, 2022. This matter is pending. Gas System Modernization Program (GSMP II)— In March 2022, PSE&G updated its petition previously filed in December 2021 seeking BPU approval to recover in gas base rates an annual revenue increase of approximately $25 million effective June 1, 2022 representing the return on and of GSMP II investments placed in service through February 2022. Remediation Adjustment Charge (RAC)— In March 2022, PSE&G filed its RAC 29 petition with the BPU seeking recovery of $44 million of net Manufactured Gas Plant (MGP) remediation expenditures incurred from August 1, 2020 through July 31, 2021. This matter is pending. ZEC Program— In April 2022, the BPU approved PSE&G’s petition to refund a total of $4 million, including interest, for overcollections resulting from the ZEC program for the energy year ended May 31, 2021.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases	Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2022, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2021 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities and real estate assets . Rental income from these leases is included in Operating Revenues. PSEG Nuclear, LLC, a wholly owned subsidiary of PSEG Power, is the lessor in an operating lease for certain parcels of land with terms of 28 years from commencement, plus five optional renewal periods of ten years. Prior to the sale in June 2021 of PSEG Solar Source LLC, an indirect wholly owned subsidiary of PSEG Power, certain of PSEG Power’s sales agreements related to its solar generating plants qualified as operating leases. Lease income was based on solar energy generation; therefore, all rental income recorded under these leases was variable. Energy Holdings is the lessor in leveraged leases. See Note 8. Financing Receivables. Energy Holdings is the lessor in two operating leases for domestic energy generation facilities with remaining terms through 2036, one of which has an optional renewal period and real estate assets with remaining terms through 2049. As of March 31, 2022, Energy Holdings’ property subject to these leases had a total carrying value of $123 million. The following is the operating lease income for the three months ended March 31, 2022 and 2021: Operating Lease Income Millions Three Months Ended March 31, 2022 Fixed Lease Income $ 8 Variable Lease Income — Total Operating Lease Income $ 8 Three Months Ended March 31, 2021 Fixed Lease Income $ 5 Variable Lease Income 5 Total Operating Lease Income $ 10
Leases	Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2022, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2021 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities and real estate assets . Rental income from these leases is included in Operating Revenues. PSEG Nuclear, LLC, a wholly owned subsidiary of PSEG Power, is the lessor in an operating lease for certain parcels of land with terms of 28 years from commencement, plus five optional renewal periods of ten years. Prior to the sale in June 2021 of PSEG Solar Source LLC, an indirect wholly owned subsidiary of PSEG Power, certain of PSEG Power’s sales agreements related to its solar generating plants qualified as operating leases. Lease income was based on solar energy generation; therefore, all rental income recorded under these leases was variable. Energy Holdings is the lessor in leveraged leases. See Note 8. Financing Receivables. Energy Holdings is the lessor in two operating leases for domestic energy generation facilities with remaining terms through 2036, one of which has an optional renewal period and real estate assets with remaining terms through 2049. As of March 31, 2022, Energy Holdings’ property subject to these leases had a total carrying value of $123 million. The following is the operating lease income for the three months ended March 31, 2022 and 2021: Operating Lease Income Millions Three Months Ended March 31, 2022 Fixed Lease Income $ 8 Variable Lease Income — Total Operating Lease Income $ 8 Three Months Ended March 31, 2021 Fixed Lease Income $ 5 Variable Lease Income 5 Total Operating Lease Income $ 10
Public Service Electric and Gas Company [Member]
Leases	Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2022, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2021 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities and real estate assets . Rental income from these leases is included in Operating Revenues. PSEG Nuclear, LLC, a wholly owned subsidiary of PSEG Power, is the lessor in an operating lease for certain parcels of land with terms of 28 years from commencement, plus five optional renewal periods of ten years. Prior to the sale in June 2021 of PSEG Solar Source LLC, an indirect wholly owned subsidiary of PSEG Power, certain of PSEG Power’s sales agreements related to its solar generating plants qualified as operating leases. Lease income was based on solar energy generation; therefore, all rental income recorded under these leases was variable. Energy Holdings is the lessor in leveraged leases. See Note 8. Financing Receivables. Energy Holdings is the lessor in two operating leases for domestic energy generation facilities with remaining terms through 2036, one of which has an optional renewal period and real estate assets with remaining terms through 2049. As of March 31, 2022, Energy Holdings’ property subject to these leases had a total carrying value of $123 million. The following is the operating lease income for the three months ended March 31, 2022 and 2021: Operating Lease Income Millions Three Months Ended March 31, 2022 Fixed Lease Income $ 8 Variable Lease Income — Total Operating Lease Income $ 8 Three Months Ended March 31, 2021 Fixed Lease Income $ 5 Variable Lease Income 5 Total Operating Lease Income $ 10
Leases	Leases PSEG and its subsidiaries are both a lessor and a lessee in operating leases. As of March 31, 2022, PSEG and its subsidiaries were lessors for leases classified as operating leases or leveraged leases. See Note 8. Financing Receivables. There was no significant change in amounts reported in Note 8. Leases in the Annual Report on Form 10-K for the year ended December 31, 2021 for operating leases in which PSEG and its subsidiaries are lessees. PSEG and its subsidiaries, as lessors, have lease agreements with lease and non-lease components, which are primarily related to generating facilities and real estate assets . Rental income from these leases is included in Operating Revenues. PSEG Nuclear, LLC, a wholly owned subsidiary of PSEG Power, is the lessor in an operating lease for certain parcels of land with terms of 28 years from commencement, plus five optional renewal periods of ten years. Prior to the sale in June 2021 of PSEG Solar Source LLC, an indirect wholly owned subsidiary of PSEG Power, certain of PSEG Power’s sales agreements related to its solar generating plants qualified as operating leases. Lease income was based on solar energy generation; therefore, all rental income recorded under these leases was variable. Energy Holdings is the lessor in leveraged leases. See Note 8. Financing Receivables. Energy Holdings is the lessor in two operating leases for domestic energy generation facilities with remaining terms through 2036, one of which has an optional renewal period and real estate assets with remaining terms through 2049. As of March 31, 2022, Energy Holdings’ property subject to these leases had a total carrying value of $123 million. The following is the operating lease income for the three months ended March 31, 2022 and 2021: Operating Lease Income Millions Three Months Ended March 31, 2022 Fixed Lease Income $ 8 Variable Lease Income — Total Operating Lease Income $ 8 Three Months Ended March 31, 2021 Fixed Lease Income $ 5 Variable Lease Income 5 Total Operating Lease Income $ 10

Financing Receivables

Financing Receivables	3 Months Ended
	Mar. 31, 2022
Schedule of Financial Receivables [Line Items]
Financing Receivables	Financing Receivables PSE&G PSE&G’s Solar Loan Programs are designed to help finance the installation of solar power systems throughout its electric service area. Interest income on the loans is recorded on an accrual basis. The loans are paid back with SRECs generated from the related installed solar electric system. PSE&G uses collection experience as a credit quality indicator for its Solar Loan Programs and conducts a comprehensive credit review for all prospective borrowers. As of March 31, 2022, none of the solar loans were impaired; however, in the event of a loan default, the basis of the solar loan would be recovered through a regulatory recovery mechanism. Therefore, no current credit losses have been recorded for Solar Loan Programs I, II and III. A substantial portion of these loan amounts are noncurrent and reported in Long-Term Investments on PSEG’s and PSE&G’s Condensed Consolidated Balance Sheets. The following table reflects the outstanding loans by class of customer, none of which would be considered “non-performing.” As of Outstanding Loans by Class of Customers March 31, December 31, Millions Commercial/Industrial $ 113 $ 116 Residential 5 5 Total 118 121 Current Portion (included in Accounts Receivable) (30) (29) Noncurrent Portion (included in Long-Term Investments) $ 88 $ 92 The solar loans originated under three Solar Loan Programs are comprised as follows: Programs Balance as of March 31, 2022 Funding Provided Residential Loan Term Non-Residential Loan Term Millions Solar Loan I $ 14 prior to 2013 10 years 15 years Solar Loan II 55 prior to 2015 10 years 15 years Solar Loan III 49 largely funded as of March 31, 2022 10 years 10 years Total $ 118 The average life of loans paid in full is eight years, which is lower than the loan terms of 10 to 15 years due to the generation of SRECs being greater than expected and/or cash payments made to the loan. Payments on all outstanding loans were current as of March 31, 2022 and have an average remaining life of approximately four years. There are no remaining residential loans outstanding under the Solar Loan 1 program. Energy Holdings Energy Holdings, through its indirect subsidiaries, has investments in assets subject to leveraged lease accounting. A leveraged lease is typically comprised of an investment by an equity investor and debt provided by a third-party debt investor. The debt is recourse only to the assets subject to lease and is not included on PSEG’s Condensed Consolidated Balance Sheets. As an equity investor, Energy Holdings’ equity investments in the leases are comprised of the total expected lease receivables over the lease terms plus the estimated residual values at the end of the lease terms, reduced for any income not yet earned on the leases. This amount is included in Long-Term Investments on PSEG’s Condensed Consolidated Balance Sheets. The more rapid depreciation of the leased property for tax purposes creates tax cash flow that will be repaid to the taxing authority in later periods. As such, the liability for such taxes due is recorded in Deferred Income Taxes on PSEG’s Condensed Consolidated Balance Sheets. Leveraged leases outstanding as of March 31, 2022 commenced in or prior to 2000. The following table shows Energy Holdings’ gross and net lease investment as of March 31, 2022 and December 31, 2021. As of March 31, December 31, Millions Lease Receivables (net of Non-Recourse Debt) $ 249 $ 274 Unearned and Deferred Income (84) (87) Gross Investments in Leases 165 187 Deferred Tax Liabilities (40) (42) Net Investments in Leases $ 125 $ 145 The corresponding receivables associated with the lease portfolio are reflected as follows, net of non-recourse debt. The ratings in the table represent the ratings of the entities providing payment assurance to Energy Holdings. Lease Receivables, Net of Counterparties' Standard & Poor's (S&P) Credit Rating as of March 31, 2022 As of March 31, 2022 Millions AA $ 8 A- 47 BBB+ to BBB 194 Total $ 249 PSEG recorded no credit losses for the leveraged leases existing on March 31, 2022. Upon the occurrence of certain defaults, indirect subsidiaries of Energy Holdings would exercise their rights and seek recovery of their investments, potentially including stepping into the lease directly to protect their investments. While these actions could ultimately protect or mitigate the loss of value, they could require the use of significant capital and trigger certain material tax obligations which could, for certain leases, wholly or partially be mitigated by tax indemnification claims against the counterparty. A bankruptcy of a lessee would likely delay and potentially limit any efforts on the part of the lessors to assert their rights upon default and could delay the monetization of claims.
Public Service Electric and Gas Company [Member]
Schedule of Financial Receivables [Line Items]
Financing Receivables	Financing Receivables PSE&G PSE&G’s Solar Loan Programs are designed to help finance the installation of solar power systems throughout its electric service area. Interest income on the loans is recorded on an accrual basis. The loans are paid back with SRECs generated from the related installed solar electric system. PSE&G uses collection experience as a credit quality indicator for its Solar Loan Programs and conducts a comprehensive credit review for all prospective borrowers. As of March 31, 2022, none of the solar loans were impaired; however, in the event of a loan default, the basis of the solar loan would be recovered through a regulatory recovery mechanism. Therefore, no current credit losses have been recorded for Solar Loan Programs I, II and III. A substantial portion of these loan amounts are noncurrent and reported in Long-Term Investments on PSEG’s and PSE&G’s Condensed Consolidated Balance Sheets. The following table reflects the outstanding loans by class of customer, none of which would be considered “non-performing.” As of Outstanding Loans by Class of Customers March 31, December 31, Millions Commercial/Industrial $ 113 $ 116 Residential 5 5 Total 118 121 Current Portion (included in Accounts Receivable) (30) (29) Noncurrent Portion (included in Long-Term Investments) $ 88 $ 92 The solar loans originated under three Solar Loan Programs are comprised as follows: Programs Balance as of March 31, 2022 Funding Provided Residential Loan Term Non-Residential Loan Term Millions Solar Loan I $ 14 prior to 2013 10 years 15 years Solar Loan II 55 prior to 2015 10 years 15 years Solar Loan III 49 largely funded as of March 31, 2022 10 years 10 years Total $ 118 The average life of loans paid in full is eight years, which is lower than the loan terms of 10 to 15 years due to the generation of SRECs being greater than expected and/or cash payments made to the loan. Payments on all outstanding loans were current as of March 31, 2022 and have an average remaining life of approximately four years. There are no remaining residential loans outstanding under the Solar Loan 1 program. Energy Holdings Energy Holdings, through its indirect subsidiaries, has investments in assets subject to leveraged lease accounting. A leveraged lease is typically comprised of an investment by an equity investor and debt provided by a third-party debt investor. The debt is recourse only to the assets subject to lease and is not included on PSEG’s Condensed Consolidated Balance Sheets. As an equity investor, Energy Holdings’ equity investments in the leases are comprised of the total expected lease receivables over the lease terms plus the estimated residual values at the end of the lease terms, reduced for any income not yet earned on the leases. This amount is included in Long-Term Investments on PSEG’s Condensed Consolidated Balance Sheets. The more rapid depreciation of the leased property for tax purposes creates tax cash flow that will be repaid to the taxing authority in later periods. As such, the liability for such taxes due is recorded in Deferred Income Taxes on PSEG’s Condensed Consolidated Balance Sheets. Leveraged leases outstanding as of March 31, 2022 commenced in or prior to 2000. The following table shows Energy Holdings’ gross and net lease investment as of March 31, 2022 and December 31, 2021. As of March 31, December 31, Millions Lease Receivables (net of Non-Recourse Debt) $ 249 $ 274 Unearned and Deferred Income (84) (87) Gross Investments in Leases 165 187 Deferred Tax Liabilities (40) (42) Net Investments in Leases $ 125 $ 145 The corresponding receivables associated with the lease portfolio are reflected as follows, net of non-recourse debt. The ratings in the table represent the ratings of the entities providing payment assurance to Energy Holdings. Lease Receivables, Net of Counterparties' Standard & Poor's (S&P) Credit Rating as of March 31, 2022 As of March 31, 2022 Millions AA $ 8 A- 47 BBB+ to BBB 194 Total $ 249 PSEG recorded no credit losses for the leveraged leases existing on March 31, 2022. Upon the occurrence of certain defaults, indirect subsidiaries of Energy Holdings would exercise their rights and seek recovery of their investments, potentially including stepping into the lease directly to protect their investments. While these actions could ultimately protect or mitigate the loss of value, they could require the use of significant capital and trigger certain material tax obligations which could, for certain leases, wholly or partially be mitigated by tax indemnification claims against the counterparty. A bankruptcy of a lessee would likely delay and potentially limit any efforts on the part of the lessors to assert their rights upon default and could delay the monetization of claims.

Trust Investments

Trust Investments	3 Months Ended
	Mar. 31, 2022
Schedule of Trust Investments [Line Items]
Trust Investments	Trust Investments Nuclear Decommissioning Trust (NDT) Fund PSEG Power maintains an external master NDT to fund its share of decommissioning costs for its five nuclear facilities upon their respective termination of operation. The trust contains two separate funds: a qualified fund and a non-qualified fund. Section 468A of the Internal Revenue Code limits the amount of money that can be contributed into a qualified fund. The funds are managed by third-party investment managers who operate under investment guidelines developed by PSEG Power. The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund. As of March 31, 2022 Cost Gross Gross Fair Millions Equity Securities Domestic $ 496 $ 326 $ (3) $ 819 International 333 98 (18) 413 Total Equity Securities 829 424 (21) 1,232 Available-for-Sale Debt Securities Government 676 2 (38) 640 Corporate 649 3 (35) 617 Total Available-for-Sale Debt Securities 1,325 5 (73) 1,257 Total NDT Fund Investments (A) $ 2,154 $ 429 $ (94) $ 2,489 (A) The NDT Fund Investments table excludes foreign currency of $2 million as of March 31, 2022, which is part of the NDT Fund. As of December 31, 2021 Cost Gross Gross Fair Millions Equity Securities Domestic $ 491 $ 363 $ (3) $ 851 International 346 119 (15) 450 Total Equity Securities 837 482 (18) 1,301 Available-for-Sale Debt Securities Government 683 12 (8) 687 Corporate 637 16 (6) 647 Total Available-for-Sale Debt Securities 1,320 28 (14) 1,334 Total NDT Fund Investments (A) $ 2,157 $ 510 $ (32) $ 2,635 (A) The NDT Fund Investments table excludes foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund. Net unrealized losses on debt securities of $(40) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Condensed Consolidated Balance Sheet as of March 31, 2022. The portion of net unrealized losses recognized in the first three months of 2022 related to equity securities still held as of March 31, 2022 was $(47) million. The amounts in the preceding tables do not include receivables and payables for NDT Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table. As of As of March 31, December 31, Millions Accounts Receivable $ 18 $ 11 Accounts Payable $ 10 $ 11 The following table shows the value of securities in the NDT Fund that have been in an unrealized loss position for less than and greater than 12 months. As of March 31, 2022 As of December 31, 2021 Less Than 12 Greater Than 12 Less Than 12 Greater Than 12 Fair Gross Fair Gross Fair Gross Fair Gross Millions Equity Securities (A) Domestic $ 62 $ (3) $ — $ — $ 69 $ (3) $ — $ — International 91 (15) 9 (3) 76 (13) 9 (2) Total Equity Securities 153 (18) 9 (3) 145 (16) 9 (2) Available-for-Sale Debt Securities Government (B) 448 (26) 118 (12) 332 (5) 67 (3) Corporate (C) 420 (26) 74 (9) 306 (4) 30 (2) Total Available-for-Sale Debt Securities 868 (52) 192 (21) 638 (9) 97 (5) NDT Trust Investments $ 1,021 $ (70) $ 201 $ (24) $ 783 $ (25) $ 106 $ (7) (A) Equity Securities—Investments in marketable equity securities within the NDT Fund are primarily in common stocks within a broad range of industries and sectors. Unrealized gains and losses on these securities are recorded in Net Income. (B) Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG Power also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG Power did not recognize credit losses for municipal bonds because they are primarily investment grade securities. (C) Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for these corporate bonds because they are primarily investment grade securities. The proceeds from the sales of and the net gains (losses) on securities in the NDT Fund were: Three Months Ended March 31, 2022 2021 Millions Proceeds from NDT Fund Sales (A) $ 473 $ 597 Net Realized Gains (Losses) on NDT Fund Gross Realized Gains $ 29 $ 79 Gross Realized Losses (34) (15) Net Realized Gains (Losses) on NDT Fund (B) (5) 64 Net Unrealized Gains (Losses) on Equity Securities (61) (7) Net Gains (Losses) on NDT Fund Investments $ (66) $ 57 (A) Includes activity in accounts related to the liquidation of funds being transitioned within the trust. (B) The cost of these securities was determined on the basis of specific identification. The NDT Fund debt securities held as of March 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ 20 1 - 5 years 324 6 - 10 years 226 11 - 15 years 70 16 - 20 years 109 Over 20 years 508 Total NDT Available-for-Sale Debt Securities $ 1,257 PSEG Power periodically assesses individual debt securities whose fair value is less than amortized cost to determine whether the investments are impaired. For these securities, management considers its intent to sell or requirement to sell a security prior to expected recovery. In those cases where a sale is expected, any impairment would be recorded through earnings. For fixed income securities where there is no intent to sell or likely requirement to sell, management evaluates whether credit loss is a component of the impairment. If so, that portion is recorded through earnings while the noncredit loss component is recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the noncredit loss component of the impairment would be recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the credit loss component would be recognized through earnings. The assessment of fair market value compared to cost is applied on a weighted average basis taking into account various purchase dates and initial cost of the securities. Rabbi Trust PSEG maintains certain unfunded nonqualified benefit plans to provide supplemental retirement and deferred compensation benefits to certain key employees. Certain assets related to these plans have been set aside in a grantor trust commonly known as a “Rabbi Trust.” The following tables show the fair values, gross unrealized gains and losses and amortized cost basis for the securities held in the Rabbi Trust. As of March 31, 2022 Cost Gross Gross Fair Millions Domestic Equity Securities $ 15 $ 10 $ — $ 25 Available-for-Sale Debt Securities Government 111 — (8) 103 Corporate 96 1 (6) 91 Total Available-for-Sale Debt Securities 207 1 (14) 194 Total Rabbi Trust Investments $ 222 $ 11 $ (14) $ 219 As of December 31, 2021 Cost Gross Gross Fair Millions Domestic Equity Securities $ 14 $ 12 $ — $ 26 Available-for-Sale Debt Securities Government 107 1 (1) 107 Corporate 105 5 (1) 109 Total Available-for-Sale Debt Securities 212 6 (2) 216 Total Rabbi Trust Investments $ 226 $ 18 $ (2) $ 242 Net unrealized losses on debt securities of $(10) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Condensed Consolidated Balance Sheet as of March 31, 2022. The portion of net unrealized losses recognized during the first three months of 2022 related to equity securities still held as of March 31, 2022 was $(1) million. The amounts in the preceding tables do not include receivables and payables for Rabbi Trust Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table. As of As of March 31, December 31, Millions Accounts Receivable $ 2 $ 1 Accounts Payable $ — $ — The following table shows the value of securities in the Rabbi Trust Fund that have been in an unrealized loss position for less than 12 months and greater than 12 months. As of March 31, 2022 As of December 31, 2021 Less Than 12 Greater Than 12 Less Than 12 Greater Than 12 Fair Gross Fair Gross Fair Gross Fair Gross Millions Available-for-Sale Debt Securities Government (A) $ 86 $ (6) $ 15 $ (2) $ 57 $ — $ 16 $ (1) Corporate (B) 64 (5) 6 (1) 40 (1) 5 — Total Available-for-Sale Debt Securities 150 (11) 21 (3) 97 (1) 21 (1) Rabbi Trust Investments $ 150 $ (11) $ 21 $ (3) $ 97 $ (1) $ 21 $ (1) (A) Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG’s Rabbi Trust investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG did not recognize credit losses for municipal bonds because they are primarily investment grade securities. (B) Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for these corporate bonds because they are primarily investment grade. The proceeds from the sales of and the net gains on securities in the Rabbi Trust Fund were: Three Months Ended March 31, 2022 2021 Millions Proceeds from Rabbi Trust Sales $ 28 $ 65 Net Realized Gains (Losses) on Rabbi Trust: Gross Realized Gains $ 1 $ 5 Gross Realized Losses (2) (2) Net Realized Gains (Losses) on Rabbi Trust (A) (1) 3 Net Unrealized Gains (Losses) on Equity Securities (1) — Net Gains (Losses) on Rabbi Trust Investments $ (2) $ 3 (A) The cost of these securities was determined on the basis of specific identification. The Rabbi Trust debt securities held as of March 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ — 1 - 5 years 35 6 - 10 years 26 11 - 15 years 8 16 - 20 years 21 Over 20 years 104 Total Rabbi Trust Available-for-Sale Debt Securities $ 194 PSEG periodically assesses individual debt securities whose fair value is less than amortized cost to determine whether the investments are considered to be impaired. For these securities, management considers its intent to sell or requirement to sell a security prior to expected recovery. In those cases where a sale is expected, any impairment would be recorded through earnings. For fixed income securities where there is no intent to sell or likely requirement to sell, management evaluates whether credit loss is a component of the impairment. If so, that portion is recorded through earnings while the noncredit loss component is recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the noncredit loss component of the impairment would be recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the credit loss component would be recognized through earnings. The assessment of fair market value compared to cost is applied on a weighted average basis taking into account various purchase dates and initial cost of the securities. The fair value of the Rabbi Trust related to PSEG and PSE&G is detailed as follows: As of As of March 31, December 31, Millions PSE&G $ 39 $ 43 Other 180 199 Total Rabbi Trust Investments $ 219 $ 242
Public Service Electric and Gas Company [Member]
Schedule of Trust Investments [Line Items]
Trust Investments	Trust Investments Nuclear Decommissioning Trust (NDT) Fund PSEG Power maintains an external master NDT to fund its share of decommissioning costs for its five nuclear facilities upon their respective termination of operation. The trust contains two separate funds: a qualified fund and a non-qualified fund. Section 468A of the Internal Revenue Code limits the amount of money that can be contributed into a qualified fund. The funds are managed by third-party investment managers who operate under investment guidelines developed by PSEG Power. The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund. As of March 31, 2022 Cost Gross Gross Fair Millions Equity Securities Domestic $ 496 $ 326 $ (3) $ 819 International 333 98 (18) 413 Total Equity Securities 829 424 (21) 1,232 Available-for-Sale Debt Securities Government 676 2 (38) 640 Corporate 649 3 (35) 617 Total Available-for-Sale Debt Securities 1,325 5 (73) 1,257 Total NDT Fund Investments (A) $ 2,154 $ 429 $ (94) $ 2,489 (A) The NDT Fund Investments table excludes foreign currency of $2 million as of March 31, 2022, which is part of the NDT Fund. As of December 31, 2021 Cost Gross Gross Fair Millions Equity Securities Domestic $ 491 $ 363 $ (3) $ 851 International 346 119 (15) 450 Total Equity Securities 837 482 (18) 1,301 Available-for-Sale Debt Securities Government 683 12 (8) 687 Corporate 637 16 (6) 647 Total Available-for-Sale Debt Securities 1,320 28 (14) 1,334 Total NDT Fund Investments (A) $ 2,157 $ 510 $ (32) $ 2,635 (A) The NDT Fund Investments table excludes foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund. Net unrealized losses on debt securities of $(40) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Condensed Consolidated Balance Sheet as of March 31, 2022. The portion of net unrealized losses recognized in the first three months of 2022 related to equity securities still held as of March 31, 2022 was $(47) million. The amounts in the preceding tables do not include receivables and payables for NDT Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table. As of As of March 31, December 31, Millions Accounts Receivable $ 18 $ 11 Accounts Payable $ 10 $ 11 The following table shows the value of securities in the NDT Fund that have been in an unrealized loss position for less than and greater than 12 months. As of March 31, 2022 As of December 31, 2021 Less Than 12 Greater Than 12 Less Than 12 Greater Than 12 Fair Gross Fair Gross Fair Gross Fair Gross Millions Equity Securities (A) Domestic $ 62 $ (3) $ — $ — $ 69 $ (3) $ — $ — International 91 (15) 9 (3) 76 (13) 9 (2) Total Equity Securities 153 (18) 9 (3) 145 (16) 9 (2) Available-for-Sale Debt Securities Government (B) 448 (26) 118 (12) 332 (5) 67 (3) Corporate (C) 420 (26) 74 (9) 306 (4) 30 (2) Total Available-for-Sale Debt Securities 868 (52) 192 (21) 638 (9) 97 (5) NDT Trust Investments $ 1,021 $ (70) $ 201 $ (24) $ 783 $ (25) $ 106 $ (7) (A) Equity Securities—Investments in marketable equity securities within the NDT Fund are primarily in common stocks within a broad range of industries and sectors. Unrealized gains and losses on these securities are recorded in Net Income. (B) Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG Power also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG Power did not recognize credit losses for municipal bonds because they are primarily investment grade securities. (C) Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for these corporate bonds because they are primarily investment grade securities. The proceeds from the sales of and the net gains (losses) on securities in the NDT Fund were: Three Months Ended March 31, 2022 2021 Millions Proceeds from NDT Fund Sales (A) $ 473 $ 597 Net Realized Gains (Losses) on NDT Fund Gross Realized Gains $ 29 $ 79 Gross Realized Losses (34) (15) Net Realized Gains (Losses) on NDT Fund (B) (5) 64 Net Unrealized Gains (Losses) on Equity Securities (61) (7) Net Gains (Losses) on NDT Fund Investments $ (66) $ 57 (A) Includes activity in accounts related to the liquidation of funds being transitioned within the trust. (B) The cost of these securities was determined on the basis of specific identification. The NDT Fund debt securities held as of March 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ 20 1 - 5 years 324 6 - 10 years 226 11 - 15 years 70 16 - 20 years 109 Over 20 years 508 Total NDT Available-for-Sale Debt Securities $ 1,257 PSEG Power periodically assesses individual debt securities whose fair value is less than amortized cost to determine whether the investments are impaired. For these securities, management considers its intent to sell or requirement to sell a security prior to expected recovery. In those cases where a sale is expected, any impairment would be recorded through earnings. For fixed income securities where there is no intent to sell or likely requirement to sell, management evaluates whether credit loss is a component of the impairment. If so, that portion is recorded through earnings while the noncredit loss component is recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the noncredit loss component of the impairment would be recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the credit loss component would be recognized through earnings. The assessment of fair market value compared to cost is applied on a weighted average basis taking into account various purchase dates and initial cost of the securities. Rabbi Trust PSEG maintains certain unfunded nonqualified benefit plans to provide supplemental retirement and deferred compensation benefits to certain key employees. Certain assets related to these plans have been set aside in a grantor trust commonly known as a “Rabbi Trust.” The following tables show the fair values, gross unrealized gains and losses and amortized cost basis for the securities held in the Rabbi Trust. As of March 31, 2022 Cost Gross Gross Fair Millions Domestic Equity Securities $ 15 $ 10 $ — $ 25 Available-for-Sale Debt Securities Government 111 — (8) 103 Corporate 96 1 (6) 91 Total Available-for-Sale Debt Securities 207 1 (14) 194 Total Rabbi Trust Investments $ 222 $ 11 $ (14) $ 219 As of December 31, 2021 Cost Gross Gross Fair Millions Domestic Equity Securities $ 14 $ 12 $ — $ 26 Available-for-Sale Debt Securities Government 107 1 (1) 107 Corporate 105 5 (1) 109 Total Available-for-Sale Debt Securities 212 6 (2) 216 Total Rabbi Trust Investments $ 226 $ 18 $ (2) $ 242 Net unrealized losses on debt securities of $(10) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Condensed Consolidated Balance Sheet as of March 31, 2022. The portion of net unrealized losses recognized during the first three months of 2022 related to equity securities still held as of March 31, 2022 was $(1) million. The amounts in the preceding tables do not include receivables and payables for Rabbi Trust Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table. As of As of March 31, December 31, Millions Accounts Receivable $ 2 $ 1 Accounts Payable $ — $ — The following table shows the value of securities in the Rabbi Trust Fund that have been in an unrealized loss position for less than 12 months and greater than 12 months. As of March 31, 2022 As of December 31, 2021 Less Than 12 Greater Than 12 Less Than 12 Greater Than 12 Fair Gross Fair Gross Fair Gross Fair Gross Millions Available-for-Sale Debt Securities Government (A) $ 86 $ (6) $ 15 $ (2) $ 57 $ — $ 16 $ (1) Corporate (B) 64 (5) 6 (1) 40 (1) 5 — Total Available-for-Sale Debt Securities 150 (11) 21 (3) 97 (1) 21 (1) Rabbi Trust Investments $ 150 $ (11) $ 21 $ (3) $ 97 $ (1) $ 21 $ (1) (A) Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG’s Rabbi Trust investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG did not recognize credit losses for municipal bonds because they are primarily investment grade securities. (B) Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for these corporate bonds because they are primarily investment grade. The proceeds from the sales of and the net gains on securities in the Rabbi Trust Fund were: Three Months Ended March 31, 2022 2021 Millions Proceeds from Rabbi Trust Sales $ 28 $ 65 Net Realized Gains (Losses) on Rabbi Trust: Gross Realized Gains $ 1 $ 5 Gross Realized Losses (2) (2) Net Realized Gains (Losses) on Rabbi Trust (A) (1) 3 Net Unrealized Gains (Losses) on Equity Securities (1) — Net Gains (Losses) on Rabbi Trust Investments $ (2) $ 3 (A) The cost of these securities was determined on the basis of specific identification. The Rabbi Trust debt securities held as of March 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ — 1 - 5 years 35 6 - 10 years 26 11 - 15 years 8 16 - 20 years 21 Over 20 years 104 Total Rabbi Trust Available-for-Sale Debt Securities $ 194 PSEG periodically assesses individual debt securities whose fair value is less than amortized cost to determine whether the investments are considered to be impaired. For these securities, management considers its intent to sell or requirement to sell a security prior to expected recovery. In those cases where a sale is expected, any impairment would be recorded through earnings. For fixed income securities where there is no intent to sell or likely requirement to sell, management evaluates whether credit loss is a component of the impairment. If so, that portion is recorded through earnings while the noncredit loss component is recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the noncredit loss component of the impairment would be recorded through Accumulated Other Comprehensive Income (Loss). Any subsequent recoveries of the credit loss component would be recognized through earnings. The assessment of fair market value compared to cost is applied on a weighted average basis taking into account various purchase dates and initial cost of the securities. The fair value of the Rabbi Trust related to PSEG and PSE&G is detailed as follows: As of As of March 31, December 31, Millions PSE&G $ 39 $ 43 Other 180 199 Total Rabbi Trust Investments $ 219 $ 242

Pension and OPEB

Pension and OPEB	3 Months Ended
	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement Benefits (OPEB)	Pension and Other Postretirement Benefits (OPEB) PSEG sponsors qualified and nonqualified pension plans and OPEB plans covering PSEG’s and its participating affiliates’ current and former employees who meet certain eligibility criteria. PSEG and PSE&G are required to record the under or over funded positions of their defined benefit pension and OPEB plans on their respective balance sheets. Such funding positions are required to be measured as of the date of their respective year-end Consolidated Balance Sheets. The following table provides the components of net periodic benefit credits relating to all qualified and nonqualified pension and OPEB plans on an aggregate basis for PSEG, excluding Servco. Amounts shown do not reflect the impacts of capitalization and co-owner allocations. Only the service cost component is eligible for capitalization, when applicable. Pension Benefits OPEB Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Millions Components of Net Periodic Benefit (Credits) Costs Service Cost (included in O&M Expense) $ 35 $ 38 $ 2 $ 2 Non-Service Components of Pension and OPEB (Credits) Costs Interest Cost 42 35 6 5 Expected Return on Plan Assets (121) (119) (11) (10) Amortization of Net Prior Service Credit — — (32) (32) Actuarial Loss 15 26 4 11 Non-Service Components of Pension and OPEB (Credits) Costs (64) (58) (33) (26) Total Benefit (Credits) Costs $ (29) $ (20) $ (31) $ (24) Pension and OPEB credits for PSEG and PSE&G are detailed as follows: Pension Benefits OPEB Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Millions PSE&G $ (18) $ (16) $ (27) $ (23) Other (11) (4) (4) (1) Total Benefit (Credits) Costs $ (29) $ (20) $ (31) $ (24) PSEG does not plan to contribute to its pension and OPEB plans in 2022. Servco Pension and OPEB At the direction of LIPA, Servco sponsors benefit plans that cover its current and former employees who meet certain eligibility criteria. Under the OSA, all of these and any future employee benefit costs are to be funded by LIPA. See Note 5. Variable Interest Entities. These obligations, as well as the offsetting long-term receivable, are separately presented on the Condensed Consolidated Balance Sheet of PSEG. Servco amounts are not included in any of the preceding pension and OPEB cost disclosures. Pension and OPEB costs of Servco are accounted for according to the OSA. Servco recognizes expenses for contributions to its pension plan trusts and for OPEB payments made to retirees. Operating Revenues are recognized for the reimbursement of these costs. Servco’s pension-related revenues and costs were $8 million and $9 million for the three months ended March 31, 2022 and 2021, respectively. The OPEB-related revenues earned and costs incurred were $2 million and $3 million for the three months ended March 31, 2022 and 2021, respectively. Servco plans to contribute $30 million into its pension plan during 2022.
Public Service Electric and Gas Company [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement Benefits (OPEB)	Pension and Other Postretirement Benefits (OPEB) PSEG sponsors qualified and nonqualified pension plans and OPEB plans covering PSEG’s and its participating affiliates’ current and former employees who meet certain eligibility criteria. PSEG and PSE&G are required to record the under or over funded positions of their defined benefit pension and OPEB plans on their respective balance sheets. Such funding positions are required to be measured as of the date of their respective year-end Consolidated Balance Sheets. The following table provides the components of net periodic benefit credits relating to all qualified and nonqualified pension and OPEB plans on an aggregate basis for PSEG, excluding Servco. Amounts shown do not reflect the impacts of capitalization and co-owner allocations. Only the service cost component is eligible for capitalization, when applicable. Pension Benefits OPEB Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Millions Components of Net Periodic Benefit (Credits) Costs Service Cost (included in O&M Expense) $ 35 $ 38 $ 2 $ 2 Non-Service Components of Pension and OPEB (Credits) Costs Interest Cost 42 35 6 5 Expected Return on Plan Assets (121) (119) (11) (10) Amortization of Net Prior Service Credit — — (32) (32) Actuarial Loss 15 26 4 11 Non-Service Components of Pension and OPEB (Credits) Costs (64) (58) (33) (26) Total Benefit (Credits) Costs $ (29) $ (20) $ (31) $ (24) Pension and OPEB credits for PSEG and PSE&G are detailed as follows: Pension Benefits OPEB Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Millions PSE&G $ (18) $ (16) $ (27) $ (23) Other (11) (4) (4) (1) Total Benefit (Credits) Costs $ (29) $ (20) $ (31) $ (24) PSEG does not plan to contribute to its pension and OPEB plans in 2022. Servco Pension and OPEB At the direction of LIPA, Servco sponsors benefit plans that cover its current and former employees who meet certain eligibility criteria. Under the OSA, all of these and any future employee benefit costs are to be funded by LIPA. See Note 5. Variable Interest Entities. These obligations, as well as the offsetting long-term receivable, are separately presented on the Condensed Consolidated Balance Sheet of PSEG. Servco amounts are not included in any of the preceding pension and OPEB cost disclosures. Pension and OPEB costs of Servco are accounted for according to the OSA. Servco recognizes expenses for contributions to its pension plan trusts and for OPEB payments made to retirees. Operating Revenues are recognized for the reimbursement of these costs. Servco’s pension-related revenues and costs were $8 million and $9 million for the three months ended March 31, 2022 and 2021, respectively. The OPEB-related revenues earned and costs incurred were $2 million and $3 million for the three months ended March 31, 2022 and 2021, respectively. Servco plans to contribute $30 million into its pension plan during 2022.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2022
Loss Contingencies [Line Items]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Guaranteed Obligations PSEG Power’s activities primarily involve the purchase and sale of energy and related products under transportation, physical, financial and forward contracts at fixed and variable prices. These transactions are with numerous counterparties and brokers that may require cash, cash-related instruments or guarantees as a form of collateral. PSEG Power has unconditionally guaranteed payments to counterparties on behalf of its subsidiaries in commodity-related transactions in order to • support current exposure, interest and other costs on sums due and payable in the ordinary course of business, and • obtain credit. PSEG Power is subject to • counterparty collateral calls related to commodity contracts of its subsidiaries, and • certain creditworthiness standards as guarantor under performance guarantees of its subsidiaries. Under these agreements, guarantees cover lines of credit between entities and are often reciprocal in nature. The exposure between counterparties can move in either direction. In order for PSEG Power to incur a liability for the face value of the outstanding guarantees, • its subsidiaries would have to fully utilize the credit granted to them by every counterparty to whom PSEG Power has provided a guarantee, and • the net position of the related contracts would have to be “out-of-the-money” (if the contracts are terminated, PSEG Power would owe money to the counterparties). PSEG Power believes the probability of this result is unlikely. For this reason, PSEG Power believes that the current exposure at any point in time is a more meaningful representation of the potential liability under these guarantees. Current exposure consists of the net of accounts receivable and accounts payable and the forward value on open positions, less any collateral posted. Changes in commodity prices can have a material impact on collateral requirements under such contracts, which are posted and received primarily in the form of cash and letters of credit. PSEG Power also routinely enters into futures and options transactions for electricity and natural gas as part of its operations. These futures contracts usually require a cash margin deposit with brokers, which can change based on market movement and in accordance with exchange rules. In addition to the guarantees discussed above, PSEG Power has also provided payment guarantees to third parties and regulatory authorities on behalf of its affiliated companies. These guarantees support various other non-commodity related obligations. The following table shows the face value of PSEG Power’s outstanding guarantees, current exposure and margin positions as of March 31, 2022 and December 31, 2021. As of As of March 31, 2022 December 31, 2021 Millions Face Value of Outstanding Guarantees $ 1,914 $ 1,959 Exposure under Current Guarantees $ 188 $ 176 Letters of Credit Margin Posted $ 83 $ 80 Letters of Credit Margin Received $ 21 $ 242 Cash Deposited and Received Counterparty Cash Collateral Deposited $ 32 $ 60 Counterparty Cash Collateral Received $ (1) $ (1) Net Broker Balance Deposited (Received) $ 1,496 $ 785 Additional Amounts Posted Other Letters of Credit $ 82 $ 67 As part of determining credit exposure, PSEG Power nets receivables and payables with the corresponding net fair values of energy contracts. See Note 13. Financial Risk Management Activities for further discussion. In accordance with PSEG’s accounting policy, where it is applicable, cash (received)/deposited is allocated against derivative asset and liability positions with the same counterparty on the face of the Condensed Consolidated Balance Sheet. The remaining balances of net cash (received)/deposited after allocation are generally included in Accounts Payable and Receivable, respectively. In addition to amounts for outstanding guarantees, current exposure and margin positions, PSEG and PSEG Power have posted letters of credit to support PSEG Power’s various other non-energy contractual and environmental obligations. See the preceding table. Environmental Matters Passaic River Lower Passaic River Study Area The U.S. Environmental Protection Agency (EPA) has determined that a 17-mile stretch of the Passaic River (Lower Passaic River Study Area (LPRSA)) in New Jersey is a “Superfund” site under the Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA). PSE&G and certain of its predecessors conducted operations at properties in this area, including at one site that was transferred to PSEG Power. Certain Potentially Responsible Parties (PRPs), including PSE&G and PSEG Power, formed a Cooperating Parties Group (CPG) and agreed to conduct a Remedial Investigation and Feasibility Study of the LPRSA. The CPG allocated, on an interim basis, the associated costs among its members. The interim allocation is subject to change. In June 2019, the EPA conditionally approved the CPG’s Remedial Investigation. In September 2021, the EPA approved the CPG’s Feasibility Study (FS), which evaluated various adaptive management scenarios for the remediation of only the upper 9 miles of the LPRSA. In October 2021, the EPA announced a Record of Decision (ROD) outlining its selection of an adaptive management scenario for the upper 9 miles from the options presented in the FS (the Upper 9 ROD Remedy). Specifically, the Upper 9 ROD Remedy calls for dredging and capping contaminated sediments from certain areas of the upper 9 miles at an estimated cost of $550 million, and then assessing the results. Based on the results, the EPA may determine that additional remediation work will be required in the future. Separately, the EPA has released a ROD for the LPRSA’s lower 8.3 miles that requires the removal of sediments at an estimated cost of $2.3 billion (the Lower 8.3 ROD Remedy). An EPA-commenced process to allocate the associated costs is underway and PSEG cannot predict the outcome. The allocation does not address certain costs incurred by the EPA for which they may be entitled to reimbursement and which may be material. The allocation currently involves settlement discussions among various parties and the EPA. Certain parties have announced a settlement in principle with the EPA, but the identity of the parties and the terms of the settlement in principle are unknown. It is also unknown whether the settlement in principle will be successfully consummated. PSE&G and PSEG Power were not included in the settlement in principle, but the EPA sent PSE&G, Occidental Chemical Corporation, and several other PRPs a letter in March 2022 inviting them to submit to the EPA individually or jointly an offer to fund or participate in the next stages of the remediation. Depending on the parties’ response, the EPA may commence the remediation itself and seek to recover the costs from PSE&G or others, or it may take enforcement action to compel PSE&G or others to fund or participate in the remediation. PSE&G is currently evaluating its response, and cannot predict the EPA’s actions or their impact on PSE&G. Occidental Chemical Corporation has commenced the design of the Lower 8.3 ROD Remedy, but declined to participate in the allocation process. Instead, it filed suit against PSE&G and others seeking cost recovery and contribution under CERCLA but has not quantified alleged damages. The litigation is ongoing and PSEG cannot predict the outcome. Two PRPs, Tierra Solutions, Inc. (Tierra) and Maxus Energy Corporation (Maxus), have filed for Chapter 11 bankruptcy. The trust representing the creditors in this proceeding has filed a complaint asserting claims against Tierra’s and Maxus’ current and former parent entities, among others. Any damages awarded may be used to fund the remediation of the LPRSA. As of March 31, 2022, PSEG has approximately $66 million accrued for this matter. Of this amount, PSE&G has an Environmental Costs Liability of $53 million and a corresponding Regulatory Asset based on its continued ability to recover such costs in its rates. PSEG Power has an Other Noncurrent Liability of $13 million. The outcome of this matter is uncertain, and until (i) a final remedy for the entire LPRSA is selected and an agreement is reached by the PRPs to fund it, (ii) PSE&G’s and PSEG Power’s respective shares of the costs are determined, and (iii) PSE&G’s ability to recover the costs in its rates is determined, it is not possible to predict this matter’s ultimate impact on PSEG’s financial statements. It is possible that PSE&G and PSEG Power will record additional costs beyond what they have accrued, and that such costs could be material, but PSEG cannot at the current time estimate the amount or range of any additional costs. Newark Bay Study Area The EPA has established the Newark Bay Study Area, which is an extension of the LPRSA and includes Newark Bay and portions of surrounding waterways. The EPA has notified PSEG and 11 other PRPs of their potential liability. PSE&G and PSEG Power are unable to estimate their respective portions of any loss or possible range of loss related to this matter. In December 2018, PSEG Power completed the sale of the site of the Hudson electric generating station. PSEG Power contractually transferred all land rights and structures on the Hudson site to a third-party purchaser, along with the assumption of the environmental liabilities for the site. Natural Resource Damage Claims New Jersey and certain federal regulators have alleged that PSE&G, PSEG Power and 56 other PRPs may be liable for natural resource damages within the LPRSA. In particular, PSE&G, PSEG Power and other PRPs received notice from federal regulators of the regulators’ intent to move forward with a series of studies assessing potential damages to natural resources at the Diamond Alkali Superfund Site, which includes the LPRSA and the Newark Bay Study Area. PSE&G and PSEG Power are unable to estimate their respective portions of any possible loss or range of loss related to this matter. Hackensack River In March 2022, the EPA announced it had nominated the Hackensack River for inclusion on the list of federal Superfund sites. The EPA’s nomination is subject to public review and comment. The ultimate impact of this action on PSE&G and PSEG Power is currently unknown, but could be material. MGP Remediation Program PSE&G is working with the New Jersey Department of Environmental Protection (NJDEP) to assess, investigate and remediate environmental conditions at its former MGP sites. To date, 38 sites requiring some level of remedial action have been identified. Based on its current studies, sites requiring some level of remedial action have been identified. Based on its current studies, PSE&G has determined that the estimated cost to remediate all MGP sites to completion could range between $221 million and $249 million on an undiscounted basis, including its $53 million share for the Passaic River as discussed above. Since no amount within the range is considered to be most likely, PSE&G has recorded a liability of $221 million as of March 31, 2022. Of this amount, $40 million was recorded in Other Current Liabilities and $181 million was reflected as Environmental Costs in Noncurrent Liabilities. PSE&G has recorded a $221 million Regulatory Asset with respect to these costs. PSE&G periodically updates its studies taking into account any new regulations or new information which could impact future remediation costs and adjusts its recorded liability accordingly. PSE&G completed sampling in the Passaic River in 2020 to delineate coal tar from certain MGP sites that abut the Passaic River Superfund site. PSEG cannot determine at this time the magnitude of any impact on the Passaic River Superfund remedy. CWA Section 316(b) Rule The EPA’s CWA Section 316(b) rule establishes requirements for the regulation of cooling water intakes at existing power plants and industrial facilities with a design flow of more than two million gallons of water per day. The EPA requires that National Pollutant Discharge Elimination System permits be renewed every five years and that each state Permitting Director manage renewal permits for its respective power generation facilities on a case by case basis. The NJDEP manages the permits under the New Jersey Pollutant Discharge Elimination System (NJPDES) program. In June 2016, the NJDEP issued a final NJPDES permit for Salem. In July 2016, the Delaware Riverkeeper Network (Riverkeeper) filed an administrative hearing request challenging certain conditions of the permit, including the NJDEP’s application of the 316(b) rule. If the Riverkeeper’s challenge is successful, PSEG Power may be required to incur additional costs to comply with the CWA. Potential cooling water and/or service water system modification costs could be material and could adversely impact the economic competitiveness of this facility. The NJDEP granted the hearing request but no hearing date has been established. Jersey City, New Jersey Subsurface Feeder Cable Matter In October 2016, a discharge of dielectric fluid from subsurface feeder cables located in the Hudson River near Jersey City, New Jersey, was identified and reported to the NJDEP. The feeder cables are located within a subsurface easement granted to PSE&G by the property owners, Newport Associates Development Company (NADC) and Newport Associates Phase I Developer Limited Partnership. The feeder cables are subject to agreements between PSE&G and Consolidated Edison Company of New York, Inc. (Con Edison) and are jointly owned by PSE&G and Con Edison. The impacted cable was repaired in September 2017. A federal response was initially led by the U.S. Coast Guard. The U.S. Coast Guard transitioned control of the federal response to the EPA, and the EPA ended the federal response to the matter in 2018. The investigation of small amounts of residual dielectric fluid believed to be contained with the marina sediment is ongoing as part of the NJDEP site remediation program. In August 2020, PSE&G finalized a settlement with the federal government regarding the reimbursement of costs associated with the federal response to this matter and payment of civil penalties of an immaterial amount. A lawsuit in federal court is pending to determine ultimate responsibility for the costs to address the leak among PSE&G, Con Edison and NADC. In addition, Con Edison filed counter claims against PSE&G and NADC, including seeking injunctive relief and damages. Based on the information currently available and depending on the outcome of the federal court action, PSE&G’s portion of the costs to address the leak may be material; however, PSE&G anticipates that it will recover its costs, other than civil penalties, through regulatory proceedings. BGS, BGSS and ZECs Each year, PSE&G obtains its electric supply requirements through annual New Jersey BGS auctions for two categories of customers that choose not to purchase electric supply from third-party suppliers. The first category is residential and smaller commercial and industrial customers (BGS-Residential Small Commercial Pricing (RSCP)). The second category is larger customers that exceed a BPU-established load (kW) threshold (BGS-Commercial and Industrial Energy Pricing (CIEP)). Pursuant to applicable BPU rules, PSE&G enters into the Supplier Master Agreements with the winners of these RSCP and CIEP BGS auctions to purchase BGS for PSE&G’s load requirements. The winners of the RSCP and CIEP auctions have been responsible for fulfilling all the requirements of a PJM load-serving entity including the provision of capacity, energy, ancillary services, transmission and any other services required by PJM. BGS suppliers assume all volume risk and customer migration risk and must satisfy New Jersey’s renewable portfolio standards. Beginning with the 2021 BGS auction, transmission became the responsibility of the New Jersey EDCs, and is no longer a component of the BGS auction product for either the RSCP or CIEP auctions. BGS suppliers serving load from the 2018, 2019 and 2020 BGS auctions had the option to transfer the transmission obligation to the New Jersey EDCs as of February 2021. Suppliers that did so had their total BGS payment from the EDCs reduced to reflect the transfer of the transmission obligation to the EDCs. The BGS-CIEP auction is for a one-year supply period from June 1 to May 31 with the BGS-CIEP auction price measured in dollars per MW-day for capacity. The final price for the BGS-CIEP auction year commencing June 1, 2022 is $276.26 per MW-day, replacing the BGS-CIEP auction year price ending May 31, 2022 of $351.06 per MW-day. Energy for BGS-CIEP is priced at hourly PJM locational marginal prices for the contract period. PSE&G contracts for its anticipated BGS-RSCP load on a three-year rolling basis, whereby each year one-third of the load is procured for a three-year period. The contract prices in dollars per MWh for the BGS-RSCP supply, as well as the approximate load, are as follows: Auction Year 2019 2020 2021 2022 36-Month Terms Ending May 2022 May 2023 May 2024 May 2025 (A) Load (MW) 2,800 2,800 2,900 2,800 $ per MWh $98.04 $102.16 $64.80 $76.30 (A) Prices set in the 2022 BGS auction will become effective on June 1, 2022 when the 2019 BGS auction agreements expire. PSE&G has a full-requirements contract with PSEG Power to meet the gas supply requirements of PSE&G’s gas customers. PSEG Power has entered into hedges for a portion of these anticipated BGSS obligations, as permitted by the BPU. The BPU permits PSE&G to recover the cost of gas hedging up to 115 billion cubic feet or 80% of its residential gas supply annual requirements through the BGSS tariff. Current plans call for PSEG Power to hedge on behalf of PSE&G approximately 70 billion cubic feet or 50% of its residential gas supply annual requirements. For additional information, see Note 20. Related-Party Transactions. Pursuant to a process established by the BPU, New Jersey EDCs, including PSE&G, are required to purchase ZECs from eligible nuclear plants selected by the BPU. In April 2019, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants were selected to receive ZEC revenue for approximately three years, through May 2022. In April 2021, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants were awarded ZECs for the three-year eligibility period starting June 2022. PSE&G has implemented a tariff to collect a non-bypassable distribution charge in the amount of $0.004 per KWh from its retail distribution customers to be used to purchase the ZECs from these plants. PSE&G will purchase the ZECs on a monthly basis with payment to be made annually following completion of each energy year. The legislation also requires nuclear plants to reapply for any subsequent three-year periods and allows the BPU to adjust prospective ZEC payments. Minimum Fuel Purchase Requirements PSEG Power’s nuclear fuel strategy is to maintain certain levels of uranium and to make periodic purchases to support such levels. As such, the commitments referred to in the following table may include estimated quantities to be purchased that deviate from contractual nominal quantities. PSEG Power’s nuclear fuel commitments cover approximately 100% of its estimated uranium, enrichment and fabrication requirements through 2022 and a significant portion through 2023 at Salem, Hope Creek and Peach Bottom. PSEG Power has various multi-year contracts for natural gas and firm transportation and storage capacity for natural gas that are primarily used to meet its obligations to PSE&G. As of March 31, 2022, the total minimum purchase requirements included in these commitments were as follows: Fuel Type PSEG Power’s Share of Commitments through 2026 Millions Nuclear Fuel Uranium $ 318 Enrichment $ 314 Fabrication $ 183 Natural Gas $ 1,248 Pending FERC Matter FERC has been conducting a non-public investigation of the Roseland-Pleasant Valley transmission project. In November 2021, FERC staff presented PSE&G with its non-public preliminary findings, alleging that PSE&G violated a FERC regulation. PSE&G disagrees with FERC staff’s allegations and believes it has factual and legal defenses that refute these allegations. PSE&G has the opportunity to respond to these preliminary findings. The matter is pending and the investigation is ongoing. We are unable to predict the outcome or estimate the range of possible loss related to this matter; however, depending on the success of PSE&G’s factual and legal arguments, the potential financial and other penalties that PSE&G may incur could be material to PSEG’s and PSE&G’s results of operations and financial condition. Pending Tropical Storm Matter In December 2020, LIPA filed a complaint against PSEG LI in New York State court alleging multiple breaches of the OSA in connection with PSEG LI’s preparation for and response to Tropical Storm Isaias seeking specific performance and $70 million in damages. In June 2021, LIPA and PSEG LI executed a non-binding term sheet, which is expected to guide amendments to the OSA. The term sheet includes several changes to the OSA, including shifting a portion of PSEG LI’s fixed revenues to incentive compensation and subjecting a portion of revenue to the potential imposition of penalties by the Department of Public Service (DPS) within the New York State Public Service Commission due to certain performance failures by PSEG LI, and resolves all of LIPA’s claims related to Tropical Storm Isaias and the DPS investigation. An amended OSA based on the term sheet was agreed to by both parties and approved by the LIPA Board in December 2021. In January 2022, the New York Attorney General approved the amended OSA and on April 1, 2022 the New York Comptroller approved the amended OSA. As a result, the amended OSA is effective and is of retroactive effect to January 1, 2022 for purposes of compensation. The OSA contract term continues through 2025, but can be extended for five years subject to a mutual agreement of the parties. BPU Audit of PSE&G In September 2020, the BPU ordered the commencement of a comprehensive affiliate and management audit of PSE&G. It has been more than ten years since the BPU last conducted a management and affiliate audit of this kind of PSE&G, which is initiated periodically as required by New Jersey statutes/regulations. Phase 1 of the planned audit will review affiliate relations and cost allocation between PSE&G and its affiliates, including an analysis of the relationship between PSE&G and PSEG Energy Resources & Trade, LLC, a wholly owned subsidiary of PSEG Power over the past ten years, and between PSE&G and PSEG LI. Phase 2 will be a comprehensive management audit, which will address, among other things, executive management, corporate governance, system operations, human resources, cyber security, compliance with customer protection requirements and customer safety. The audit officially began in late May 2021 and is in the data collection phase . It is not possible at this time to predict the outcome of this matter. Litigation Sewaren 7 Construction In June 2018, a complaint was filed in federal court in Newark, New Jersey against PSEG Fossil LLC, a wholly owned subsidiary of PSEG Power, regarding an ongoing dispute with Durr Mechanical Construction, Inc. (Durr), a contractor on the Sewaren 7 project. Among other things, Durr seeks damages of $93 million and alleges that PSEG Power withheld money owed to Durr and that PSEG Power’s intentional conduct led to the inability of Durr to obtain prospective contracts. PSEG Power intends to vigorously defend against these allegations. In January 2021, the court partially granted PSEG Power’s motion to dismiss certain claims, reducing the amount claimed to $68 million. In December 2018, Durr filed for Chapter 11 bankruptcy in the federal court in the Southern District of New York (SDNY). The SDNY bankruptcy court has allowed the New Jersey litigation to proceed. PSEG Power has accrued an amount related to outstanding invoices which does not reflect an assessment of claims and potential counterclaims in this matter. Due to its preliminary nature, PSEG Power cannot predict the outcome of this matter. Other Litigation and Legal Proceedings PSEG and its subsidiaries are party to various lawsuits in the ordinary course of business. In view of the inherent difficulty in predicting the outcome of such matters, PSEG and PSE&G generally cannot predict the eventual outcome of the pending matters, the timing of the ultimate resolution of these matters, or the eventual loss, fines or penalties related to each pending matter. In accordance with applicable accounting guidance, a liability is accrued when those matters present loss contingencies that are both probable and reasonably estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. PSEG will continue to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. Based on current knowledge, management does not believe that loss contingencies arising from pending matters, other than the matters described herein, could have a material adverse effect on PSEG’s or PSE&G’s consolidated financial position or liquidity. However, in light of the inherent uncertainties involved in these matters, some of which are beyond PSEG’s control, and the large or indeterminate damages sought in some of these matters, an adverse outcome in one or more of these matters could be material to PSEG’s or PSE&G’s results of operations or liquidity for any particular reporting period. Ongoing Coronavirus Pandemic
Public Service Electric and Gas Company [Member]
Loss Contingencies [Line Items]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Guaranteed Obligations PSEG Power’s activities primarily involve the purchase and sale of energy and related products under transportation, physical, financial and forward contracts at fixed and variable prices. These transactions are with numerous counterparties and brokers that may require cash, cash-related instruments or guarantees as a form of collateral. PSEG Power has unconditionally guaranteed payments to counterparties on behalf of its subsidiaries in commodity-related transactions in order to • support current exposure, interest and other costs on sums due and payable in the ordinary course of business, and • obtain credit. PSEG Power is subject to • counterparty collateral calls related to commodity contracts of its subsidiaries, and • certain creditworthiness standards as guarantor under performance guarantees of its subsidiaries. Under these agreements, guarantees cover lines of credit between entities and are often reciprocal in nature. The exposure between counterparties can move in either direction. In order for PSEG Power to incur a liability for the face value of the outstanding guarantees, • its subsidiaries would have to fully utilize the credit granted to them by every counterparty to whom PSEG Power has provided a guarantee, and • the net position of the related contracts would have to be “out-of-the-money” (if the contracts are terminated, PSEG Power would owe money to the counterparties). PSEG Power believes the probability of this result is unlikely. For this reason, PSEG Power believes that the current exposure at any point in time is a more meaningful representation of the potential liability under these guarantees. Current exposure consists of the net of accounts receivable and accounts payable and the forward value on open positions, less any collateral posted. Changes in commodity prices can have a material impact on collateral requirements under such contracts, which are posted and received primarily in the form of cash and letters of credit. PSEG Power also routinely enters into futures and options transactions for electricity and natural gas as part of its operations. These futures contracts usually require a cash margin deposit with brokers, which can change based on market movement and in accordance with exchange rules. In addition to the guarantees discussed above, PSEG Power has also provided payment guarantees to third parties and regulatory authorities on behalf of its affiliated companies. These guarantees support various other non-commodity related obligations. The following table shows the face value of PSEG Power’s outstanding guarantees, current exposure and margin positions as of March 31, 2022 and December 31, 2021. As of As of March 31, 2022 December 31, 2021 Millions Face Value of Outstanding Guarantees $ 1,914 $ 1,959 Exposure under Current Guarantees $ 188 $ 176 Letters of Credit Margin Posted $ 83 $ 80 Letters of Credit Margin Received $ 21 $ 242 Cash Deposited and Received Counterparty Cash Collateral Deposited $ 32 $ 60 Counterparty Cash Collateral Received $ (1) $ (1) Net Broker Balance Deposited (Received) $ 1,496 $ 785 Additional Amounts Posted Other Letters of Credit $ 82 $ 67 As part of determining credit exposure, PSEG Power nets receivables and payables with the corresponding net fair values of energy contracts. See Note 13. Financial Risk Management Activities for further discussion. In accordance with PSEG’s accounting policy, where it is applicable, cash (received)/deposited is allocated against derivative asset and liability positions with the same counterparty on the face of the Condensed Consolidated Balance Sheet. The remaining balances of net cash (received)/deposited after allocation are generally included in Accounts Payable and Receivable, respectively. In addition to amounts for outstanding guarantees, current exposure and margin positions, PSEG and PSEG Power have posted letters of credit to support PSEG Power’s various other non-energy contractual and environmental obligations. See the preceding table. Environmental Matters Passaic River Lower Passaic River Study Area The U.S. Environmental Protection Agency (EPA) has determined that a 17-mile stretch of the Passaic River (Lower Passaic River Study Area (LPRSA)) in New Jersey is a “Superfund” site under the Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA). PSE&G and certain of its predecessors conducted operations at properties in this area, including at one site that was transferred to PSEG Power. Certain Potentially Responsible Parties (PRPs), including PSE&G and PSEG Power, formed a Cooperating Parties Group (CPG) and agreed to conduct a Remedial Investigation and Feasibility Study of the LPRSA. The CPG allocated, on an interim basis, the associated costs among its members. The interim allocation is subject to change. In June 2019, the EPA conditionally approved the CPG’s Remedial Investigation. In September 2021, the EPA approved the CPG’s Feasibility Study (FS), which evaluated various adaptive management scenarios for the remediation of only the upper 9 miles of the LPRSA. In October 2021, the EPA announced a Record of Decision (ROD) outlining its selection of an adaptive management scenario for the upper 9 miles from the options presented in the FS (the Upper 9 ROD Remedy). Specifically, the Upper 9 ROD Remedy calls for dredging and capping contaminated sediments from certain areas of the upper 9 miles at an estimated cost of $550 million, and then assessing the results. Based on the results, the EPA may determine that additional remediation work will be required in the future. Separately, the EPA has released a ROD for the LPRSA’s lower 8.3 miles that requires the removal of sediments at an estimated cost of $2.3 billion (the Lower 8.3 ROD Remedy). An EPA-commenced process to allocate the associated costs is underway and PSEG cannot predict the outcome. The allocation does not address certain costs incurred by the EPA for which they may be entitled to reimbursement and which may be material. The allocation currently involves settlement discussions among various parties and the EPA. Certain parties have announced a settlement in principle with the EPA, but the identity of the parties and the terms of the settlement in principle are unknown. It is also unknown whether the settlement in principle will be successfully consummated. PSE&G and PSEG Power were not included in the settlement in principle, but the EPA sent PSE&G, Occidental Chemical Corporation, and several other PRPs a letter in March 2022 inviting them to submit to the EPA individually or jointly an offer to fund or participate in the next stages of the remediation. Depending on the parties’ response, the EPA may commence the remediation itself and seek to recover the costs from PSE&G or others, or it may take enforcement action to compel PSE&G or others to fund or participate in the remediation. PSE&G is currently evaluating its response, and cannot predict the EPA’s actions or their impact on PSE&G. Occidental Chemical Corporation has commenced the design of the Lower 8.3 ROD Remedy, but declined to participate in the allocation process. Instead, it filed suit against PSE&G and others seeking cost recovery and contribution under CERCLA but has not quantified alleged damages. The litigation is ongoing and PSEG cannot predict the outcome. Two PRPs, Tierra Solutions, Inc. (Tierra) and Maxus Energy Corporation (Maxus), have filed for Chapter 11 bankruptcy. The trust representing the creditors in this proceeding has filed a complaint asserting claims against Tierra’s and Maxus’ current and former parent entities, among others. Any damages awarded may be used to fund the remediation of the LPRSA. As of March 31, 2022, PSEG has approximately $66 million accrued for this matter. Of this amount, PSE&G has an Environmental Costs Liability of $53 million and a corresponding Regulatory Asset based on its continued ability to recover such costs in its rates. PSEG Power has an Other Noncurrent Liability of $13 million. The outcome of this matter is uncertain, and until (i) a final remedy for the entire LPRSA is selected and an agreement is reached by the PRPs to fund it, (ii) PSE&G’s and PSEG Power’s respective shares of the costs are determined, and (iii) PSE&G’s ability to recover the costs in its rates is determined, it is not possible to predict this matter’s ultimate impact on PSEG’s financial statements. It is possible that PSE&G and PSEG Power will record additional costs beyond what they have accrued, and that such costs could be material, but PSEG cannot at the current time estimate the amount or range of any additional costs. Newark Bay Study Area The EPA has established the Newark Bay Study Area, which is an extension of the LPRSA and includes Newark Bay and portions of surrounding waterways. The EPA has notified PSEG and 11 other PRPs of their potential liability. PSE&G and PSEG Power are unable to estimate their respective portions of any loss or possible range of loss related to this matter. In December 2018, PSEG Power completed the sale of the site of the Hudson electric generating station. PSEG Power contractually transferred all land rights and structures on the Hudson site to a third-party purchaser, along with the assumption of the environmental liabilities for the site. Natural Resource Damage Claims New Jersey and certain federal regulators have alleged that PSE&G, PSEG Power and 56 other PRPs may be liable for natural resource damages within the LPRSA. In particular, PSE&G, PSEG Power and other PRPs received notice from federal regulators of the regulators’ intent to move forward with a series of studies assessing potential damages to natural resources at the Diamond Alkali Superfund Site, which includes the LPRSA and the Newark Bay Study Area. PSE&G and PSEG Power are unable to estimate their respective portions of any possible loss or range of loss related to this matter. Hackensack River In March 2022, the EPA announced it had nominated the Hackensack River for inclusion on the list of federal Superfund sites. The EPA’s nomination is subject to public review and comment. The ultimate impact of this action on PSE&G and PSEG Power is currently unknown, but could be material. MGP Remediation Program PSE&G is working with the New Jersey Department of Environmental Protection (NJDEP) to assess, investigate and remediate environmental conditions at its former MGP sites. To date, 38 sites requiring some level of remedial action have been identified. Based on its current studies, sites requiring some level of remedial action have been identified. Based on its current studies, PSE&G has determined that the estimated cost to remediate all MGP sites to completion could range between $221 million and $249 million on an undiscounted basis, including its $53 million share for the Passaic River as discussed above. Since no amount within the range is considered to be most likely, PSE&G has recorded a liability of $221 million as of March 31, 2022. Of this amount, $40 million was recorded in Other Current Liabilities and $181 million was reflected as Environmental Costs in Noncurrent Liabilities. PSE&G has recorded a $221 million Regulatory Asset with respect to these costs. PSE&G periodically updates its studies taking into account any new regulations or new information which could impact future remediation costs and adjusts its recorded liability accordingly. PSE&G completed sampling in the Passaic River in 2020 to delineate coal tar from certain MGP sites that abut the Passaic River Superfund site. PSEG cannot determine at this time the magnitude of any impact on the Passaic River Superfund remedy. CWA Section 316(b) Rule The EPA’s CWA Section 316(b) rule establishes requirements for the regulation of cooling water intakes at existing power plants and industrial facilities with a design flow of more than two million gallons of water per day. The EPA requires that National Pollutant Discharge Elimination System permits be renewed every five years and that each state Permitting Director manage renewal permits for its respective power generation facilities on a case by case basis. The NJDEP manages the permits under the New Jersey Pollutant Discharge Elimination System (NJPDES) program. In June 2016, the NJDEP issued a final NJPDES permit for Salem. In July 2016, the Delaware Riverkeeper Network (Riverkeeper) filed an administrative hearing request challenging certain conditions of the permit, including the NJDEP’s application of the 316(b) rule. If the Riverkeeper’s challenge is successful, PSEG Power may be required to incur additional costs to comply with the CWA. Potential cooling water and/or service water system modification costs could be material and could adversely impact the economic competitiveness of this facility. The NJDEP granted the hearing request but no hearing date has been established. Jersey City, New Jersey Subsurface Feeder Cable Matter In October 2016, a discharge of dielectric fluid from subsurface feeder cables located in the Hudson River near Jersey City, New Jersey, was identified and reported to the NJDEP. The feeder cables are located within a subsurface easement granted to PSE&G by the property owners, Newport Associates Development Company (NADC) and Newport Associates Phase I Developer Limited Partnership. The feeder cables are subject to agreements between PSE&G and Consolidated Edison Company of New York, Inc. (Con Edison) and are jointly owned by PSE&G and Con Edison. The impacted cable was repaired in September 2017. A federal response was initially led by the U.S. Coast Guard. The U.S. Coast Guard transitioned control of the federal response to the EPA, and the EPA ended the federal response to the matter in 2018. The investigation of small amounts of residual dielectric fluid believed to be contained with the marina sediment is ongoing as part of the NJDEP site remediation program. In August 2020, PSE&G finalized a settlement with the federal government regarding the reimbursement of costs associated with the federal response to this matter and payment of civil penalties of an immaterial amount. A lawsuit in federal court is pending to determine ultimate responsibility for the costs to address the leak among PSE&G, Con Edison and NADC. In addition, Con Edison filed counter claims against PSE&G and NADC, including seeking injunctive relief and damages. Based on the information currently available and depending on the outcome of the federal court action, PSE&G’s portion of the costs to address the leak may be material; however, PSE&G anticipates that it will recover its costs, other than civil penalties, through regulatory proceedings. BGS, BGSS and ZECs Each year, PSE&G obtains its electric supply requirements through annual New Jersey BGS auctions for two categories of customers that choose not to purchase electric supply from third-party suppliers. The first category is residential and smaller commercial and industrial customers (BGS-Residential Small Commercial Pricing (RSCP)). The second category is larger customers that exceed a BPU-established load (kW) threshold (BGS-Commercial and Industrial Energy Pricing (CIEP)). Pursuant to applicable BPU rules, PSE&G enters into the Supplier Master Agreements with the winners of these RSCP and CIEP BGS auctions to purchase BGS for PSE&G’s load requirements. The winners of the RSCP and CIEP auctions have been responsible for fulfilling all the requirements of a PJM load-serving entity including the provision of capacity, energy, ancillary services, transmission and any other services required by PJM. BGS suppliers assume all volume risk and customer migration risk and must satisfy New Jersey’s renewable portfolio standards. Beginning with the 2021 BGS auction, transmission became the responsibility of the New Jersey EDCs, and is no longer a component of the BGS auction product for either the RSCP or CIEP auctions. BGS suppliers serving load from the 2018, 2019 and 2020 BGS auctions had the option to transfer the transmission obligation to the New Jersey EDCs as of February 2021. Suppliers that did so had their total BGS payment from the EDCs reduced to reflect the transfer of the transmission obligation to the EDCs. The BGS-CIEP auction is for a one-year supply period from June 1 to May 31 with the BGS-CIEP auction price measured in dollars per MW-day for capacity. The final price for the BGS-CIEP auction year commencing June 1, 2022 is $276.26 per MW-day, replacing the BGS-CIEP auction year price ending May 31, 2022 of $351.06 per MW-day. Energy for BGS-CIEP is priced at hourly PJM locational marginal prices for the contract period. PSE&G contracts for its anticipated BGS-RSCP load on a three-year rolling basis, whereby each year one-third of the load is procured for a three-year period. The contract prices in dollars per MWh for the BGS-RSCP supply, as well as the approximate load, are as follows: Auction Year 2019 2020 2021 2022 36-Month Terms Ending May 2022 May 2023 May 2024 May 2025 (A) Load (MW) 2,800 2,800 2,900 2,800 $ per MWh $98.04 $102.16 $64.80 $76.30 (A) Prices set in the 2022 BGS auction will become effective on June 1, 2022 when the 2019 BGS auction agreements expire. PSE&G has a full-requirements contract with PSEG Power to meet the gas supply requirements of PSE&G’s gas customers. PSEG Power has entered into hedges for a portion of these anticipated BGSS obligations, as permitted by the BPU. The BPU permits PSE&G to recover the cost of gas hedging up to 115 billion cubic feet or 80% of its residential gas supply annual requirements through the BGSS tariff. Current plans call for PSEG Power to hedge on behalf of PSE&G approximately 70 billion cubic feet or 50% of its residential gas supply annual requirements. For additional information, see Note 20. Related-Party Transactions. Pursuant to a process established by the BPU, New Jersey EDCs, including PSE&G, are required to purchase ZECs from eligible nuclear plants selected by the BPU. In April 2019, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants were selected to receive ZEC revenue for approximately three years, through May 2022. In April 2021, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants were awarded ZECs for the three-year eligibility period starting June 2022. PSE&G has implemented a tariff to collect a non-bypassable distribution charge in the amount of $0.004 per KWh from its retail distribution customers to be used to purchase the ZECs from these plants. PSE&G will purchase the ZECs on a monthly basis with payment to be made annually following completion of each energy year. The legislation also requires nuclear plants to reapply for any subsequent three-year periods and allows the BPU to adjust prospective ZEC payments. Minimum Fuel Purchase Requirements PSEG Power’s nuclear fuel strategy is to maintain certain levels of uranium and to make periodic purchases to support such levels. As such, the commitments referred to in the following table may include estimated quantities to be purchased that deviate from contractual nominal quantities. PSEG Power’s nuclear fuel commitments cover approximately 100% of its estimated uranium, enrichment and fabrication requirements through 2022 and a significant portion through 2023 at Salem, Hope Creek and Peach Bottom. PSEG Power has various multi-year contracts for natural gas and firm transportation and storage capacity for natural gas that are primarily used to meet its obligations to PSE&G. As of March 31, 2022, the total minimum purchase requirements included in these commitments were as follows: Fuel Type PSEG Power’s Share of Commitments through 2026 Millions Nuclear Fuel Uranium $ 318 Enrichment $ 314 Fabrication $ 183 Natural Gas $ 1,248 Pending FERC Matter FERC has been conducting a non-public investigation of the Roseland-Pleasant Valley transmission project. In November 2021, FERC staff presented PSE&G with its non-public preliminary findings, alleging that PSE&G violated a FERC regulation. PSE&G disagrees with FERC staff’s allegations and believes it has factual and legal defenses that refute these allegations. PSE&G has the opportunity to respond to these preliminary findings. The matter is pending and the investigation is ongoing. We are unable to predict the outcome or estimate the range of possible loss related to this matter; however, depending on the success of PSE&G’s factual and legal arguments, the potential financial and other penalties that PSE&G may incur could be material to PSEG’s and PSE&G’s results of operations and financial condition. Pending Tropical Storm Matter In December 2020, LIPA filed a complaint against PSEG LI in New York State court alleging multiple breaches of the OSA in connection with PSEG LI’s preparation for and response to Tropical Storm Isaias seeking specific performance and $70 million in damages. In June 2021, LIPA and PSEG LI executed a non-binding term sheet, which is expected to guide amendments to the OSA. The term sheet includes several changes to the OSA, including shifting a portion of PSEG LI’s fixed revenues to incentive compensation and subjecting a portion of revenue to the potential imposition of penalties by the Department of Public Service (DPS) within the New York State Public Service Commission due to certain performance failures by PSEG LI, and resolves all of LIPA’s claims related to Tropical Storm Isaias and the DPS investigation. An amended OSA based on the term sheet was agreed to by both parties and approved by the LIPA Board in December 2021. In January 2022, the New York Attorney General approved the amended OSA and on April 1, 2022 the New York Comptroller approved the amended OSA. As a result, the amended OSA is effective and is of retroactive effect to January 1, 2022 for purposes of compensation. The OSA contract term continues through 2025, but can be extended for five years subject to a mutual agreement of the parties. BPU Audit of PSE&G In September 2020, the BPU ordered the commencement of a comprehensive affiliate and management audit of PSE&G. It has been more than ten years since the BPU last conducted a management and affiliate audit of this kind of PSE&G, which is initiated periodically as required by New Jersey statutes/regulations. Phase 1 of the planned audit will review affiliate relations and cost allocation between PSE&G and its affiliates, including an analysis of the relationship between PSE&G and PSEG Energy Resources & Trade, LLC, a wholly owned subsidiary of PSEG Power over the past ten years, and between PSE&G and PSEG LI. Phase 2 will be a comprehensive management audit, which will address, among other things, executive management, corporate governance, system operations, human resources, cyber security, compliance with customer protection requirements and customer safety. The audit officially began in late May 2021 and is in the data collection phase . It is not possible at this time to predict the outcome of this matter. Litigation Sewaren 7 Construction In June 2018, a complaint was filed in federal court in Newark, New Jersey against PSEG Fossil LLC, a wholly owned subsidiary of PSEG Power, regarding an ongoing dispute with Durr Mechanical Construction, Inc. (Durr), a contractor on the Sewaren 7 project. Among other things, Durr seeks damages of $93 million and alleges that PSEG Power withheld money owed to Durr and that PSEG Power’s intentional conduct led to the inability of Durr to obtain prospective contracts. PSEG Power intends to vigorously defend against these allegations. In January 2021, the court partially granted PSEG Power’s motion to dismiss certain claims, reducing the amount claimed to $68 million. In December 2018, Durr filed for Chapter 11 bankruptcy in the federal court in the Southern District of New York (SDNY). The SDNY bankruptcy court has allowed the New Jersey litigation to proceed. PSEG Power has accrued an amount related to outstanding invoices which does not reflect an assessment of claims and potential counterclaims in this matter. Due to its preliminary nature, PSEG Power cannot predict the outcome of this matter. Other Litigation and Legal Proceedings PSEG and its subsidiaries are party to various lawsuits in the ordinary course of business. In view of the inherent difficulty in predicting the outcome of such matters, PSEG and PSE&G generally cannot predict the eventual outcome of the pending matters, the timing of the ultimate resolution of these matters, or the eventual loss, fines or penalties related to each pending matter. In accordance with applicable accounting guidance, a liability is accrued when those matters present loss contingencies that are both probable and reasonably estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. PSEG will continue to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. Based on current knowledge, management does not believe that loss contingencies arising from pending matters, other than the matters described herein, could have a material adverse effect on PSEG’s or PSE&G’s consolidated financial position or liquidity. However, in light of the inherent uncertainties involved in these matters, some of which are beyond PSEG’s control, and the large or indeterminate damages sought in some of these matters, an adverse outcome in one or more of these matters could be material to PSEG’s or PSE&G’s results of operations or liquidity for any particular reporting period. Ongoing Coronavirus Pandemic

Debt and Credit Facilities

Debt and Credit Facilities	3 Months Ended
	Mar. 31, 2022
Debt Instrument [Line Items]
Debt and Credit Facilities	Debt and Credit Facilities Long-Term Debt Financing Transactions The following long-term debt transactions occurred in the three months ended March 31, 2022: PSE&G • issued $500 million of 3.10% Secured Medium-Term Notes (Green Bond), Series P, due March 2032. PSEG Power • entered into a $1.25 billion variable rate term loan agreement due March 2025. Short-Term Liquidity PSEG meets its short-term liquidity requirements, as well as those of PSEG Power, primarily through the issuance of commercial paper and, from time to time, short-term loans. PSE&G maintains its own separate commercial paper program to meet its short-term liquidity requirements. Each commercial paper program is fully back-stopped by its own separate credit facilities. In March 2022, PSEG and PSEG Power amended and consolidated revolving credit agreements with total borrowing capacity of $3.4 billion into a single revolving credit agreement (Master Credit Facility). The Master Credit Facility extends the maturity of the existing credit agreements through March 2027 and provides for $2.75 billion of credit capacity, with an initial PSEG sub-limit of $1.5 billion and an initial PSEG Power sub-limit of $1.25 billion. Sub-limits can be adjusted subject to the terms of the Master Credit Facility. The PSEG sub-limit includes a sustainability linked pricing based mechanism with potential increases or decreases, which are not expected to be material, depending on performance relative to targeted methane emission reductions. In March 2022, PSE&G amended its existing $600 million revolving credit agreement to extend the maturity through March 2027 and provide for $1.0 billion of credit capacity . The commitments under the $3.9 billion credit facilities are provided by a diverse bank group. As of March 31, 2022, the total available credit capacity was $3.2 billion. As of March 31, 2022, no single institution represented more than 8% of the total commitments in the credit facilities. As of March 31, 2022, PSEG’s liquidity position, including credit facilities and access to external financing, was expected to be sufficient to meet its projected stressed requirements over a 12 month planning horizon. Each of the credit facilities is restricted as to availability and use to the specific companies as listed in the following table; however, if necessary, the PSEG facilities can also be used to support its subsidiaries’ liquidity needs. The total credit facilities and available liquidity as of March 31, 2022 were as follows: As of March 31, 2022 Company/Facility Total Usage (B) Available Expiration Primary Purpose Millions PSEG Revolving Credit Facility (A) $ 1,500 $ 428 $ 1,072 Mar 2027 Commercial Paper Support/Funding/Letters of Credit Total PSEG $ 1,500 $ 428 $ 1,072 PSE&G Revolving Credit Facility $ 1,000 $ 18 $ 982 Mar 2027 Commercial Paper Support/Funding/Letters of Credit Total PSE&G $ 1,000 $ 18 $ 982 PSEG Power Revolving Credit Facility (A) $ 1,250 $ 79 $ 1,171 Mar 2027 Funding/Letters of Credit Letter of Credit Facility 100 83 17 Sept 2023 Letters of Credit Total PSEG Power $ 1,350 $ 162 $ 1,188 Total $ 3,850 $ 608 $ 3,242 (A) Master Credit Facility with sub-limits of $1.5 billion for PSEG and $1.25 billion for PSEG Power. (B) The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs, under which as of March 31, 2022, PSEG had $426 million outstanding at a weighted average interest rate of 0.44%. PSE&G had no Commercial Paper outstanding as of March 31, 2022. In April 2022, PSEG Power entered into two $100 million letter of credit facilities expiring in April 2024 and 2025, respectively. Net Cash Collateral Postings During the second half of 2021 and continuing into 2022, forward energy prices have demonstrated considerable price volatility and have increased dramatically. This has led to significantly higher variation in PSEG Power’s daily collateral requirements which have also increased substantially over that time period for hedge positions that are out-of-the money. PSEG Power’s net cash collateral postings related to these hedge positions increased from $343 million at the end of June 2021 to $1.5 billion at the end of March 2022. Subsequent to March 2022, collateral postings continued to increase and PSEG Power continued to experience significantly higher variation in its daily collateral requirements. Net cash collateral postings were $2.6 billion at the end of April 2022. The majority of this collateral relates to hedges in place through the end of 2023 and is expected to be returned as PSEG Power satisfies its obligations under those contracts. Proceeds from the sale of Fossil and the closing of a $1.25 billion term loan at PSEG Power have increased PSEG Power’s available liquidity to help support its current collateral requirements in 2022. Short-Term Loans PSEG In March and May 2021, PSEG entered into two 364-day variable rate term loan agreements for $500 million and $750 million, respectively. In August 2021, PSEG entered into a $1.25 billion, 364-day variable rate term loan agreement. In March 2022, the $500 million term loan matured and PSEG repaid the $750 million term loan due in May 2022.
Public Service Electric and Gas Company [Member]
Debt Instrument [Line Items]
Debt and Credit Facilities	Debt and Credit Facilities Long-Term Debt Financing Transactions The following long-term debt transactions occurred in the three months ended March 31, 2022: PSE&G • issued $500 million of 3.10% Secured Medium-Term Notes (Green Bond), Series P, due March 2032. PSEG Power • entered into a $1.25 billion variable rate term loan agreement due March 2025. Short-Term Liquidity PSEG meets its short-term liquidity requirements, as well as those of PSEG Power, primarily through the issuance of commercial paper and, from time to time, short-term loans. PSE&G maintains its own separate commercial paper program to meet its short-term liquidity requirements. Each commercial paper program is fully back-stopped by its own separate credit facilities. In March 2022, PSEG and PSEG Power amended and consolidated revolving credit agreements with total borrowing capacity of $3.4 billion into a single revolving credit agreement (Master Credit Facility). The Master Credit Facility extends the maturity of the existing credit agreements through March 2027 and provides for $2.75 billion of credit capacity, with an initial PSEG sub-limit of $1.5 billion and an initial PSEG Power sub-limit of $1.25 billion. Sub-limits can be adjusted subject to the terms of the Master Credit Facility. The PSEG sub-limit includes a sustainability linked pricing based mechanism with potential increases or decreases, which are not expected to be material, depending on performance relative to targeted methane emission reductions. In March 2022, PSE&G amended its existing $600 million revolving credit agreement to extend the maturity through March 2027 and provide for $1.0 billion of credit capacity . The commitments under the $3.9 billion credit facilities are provided by a diverse bank group. As of March 31, 2022, the total available credit capacity was $3.2 billion. As of March 31, 2022, no single institution represented more than 8% of the total commitments in the credit facilities. As of March 31, 2022, PSEG’s liquidity position, including credit facilities and access to external financing, was expected to be sufficient to meet its projected stressed requirements over a 12 month planning horizon. Each of the credit facilities is restricted as to availability and use to the specific companies as listed in the following table; however, if necessary, the PSEG facilities can also be used to support its subsidiaries’ liquidity needs. The total credit facilities and available liquidity as of March 31, 2022 were as follows: As of March 31, 2022 Company/Facility Total Usage (B) Available Expiration Primary Purpose Millions PSEG Revolving Credit Facility (A) $ 1,500 $ 428 $ 1,072 Mar 2027 Commercial Paper Support/Funding/Letters of Credit Total PSEG $ 1,500 $ 428 $ 1,072 PSE&G Revolving Credit Facility $ 1,000 $ 18 $ 982 Mar 2027 Commercial Paper Support/Funding/Letters of Credit Total PSE&G $ 1,000 $ 18 $ 982 PSEG Power Revolving Credit Facility (A) $ 1,250 $ 79 $ 1,171 Mar 2027 Funding/Letters of Credit Letter of Credit Facility 100 83 17 Sept 2023 Letters of Credit Total PSEG Power $ 1,350 $ 162 $ 1,188 Total $ 3,850 $ 608 $ 3,242 (A) Master Credit Facility with sub-limits of $1.5 billion for PSEG and $1.25 billion for PSEG Power. (B) The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs, under which as of March 31, 2022, PSEG had $426 million outstanding at a weighted average interest rate of 0.44%. PSE&G had no Commercial Paper outstanding as of March 31, 2022. In April 2022, PSEG Power entered into two $100 million letter of credit facilities expiring in April 2024 and 2025, respectively. Net Cash Collateral Postings During the second half of 2021 and continuing into 2022, forward energy prices have demonstrated considerable price volatility and have increased dramatically. This has led to significantly higher variation in PSEG Power’s daily collateral requirements which have also increased substantially over that time period for hedge positions that are out-of-the money. PSEG Power’s net cash collateral postings related to these hedge positions increased from $343 million at the end of June 2021 to $1.5 billion at the end of March 2022. Subsequent to March 2022, collateral postings continued to increase and PSEG Power continued to experience significantly higher variation in its daily collateral requirements. Net cash collateral postings were $2.6 billion at the end of April 2022. The majority of this collateral relates to hedges in place through the end of 2023 and is expected to be returned as PSEG Power satisfies its obligations under those contracts. Proceeds from the sale of Fossil and the closing of a $1.25 billion term loan at PSEG Power have increased PSEG Power’s available liquidity to help support its current collateral requirements in 2022. Short-Term Loans PSEG In March and May 2021, PSEG entered into two 364-day variable rate term loan agreements for $500 million and $750 million, respectively. In August 2021, PSEG entered into a $1.25 billion, 364-day variable rate term loan agreement. In March 2022, the $500 million term loan matured and PSEG repaid the $750 million term loan due in May 2022.

Financial Risk Management Activ

Financial Risk Management Activities	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Financial Risk Management Activities	Financial Risk Management Activities Derivative accounting guidance requires that a derivative instrument be recognized as either an asset or a liability at fair value, with changes in fair value of the derivative recognized in earnings each period. Other accounting treatments are available through special election and designation provided that the derivative instrument meets specific, restrictive criteria, both at the time of designation and on an ongoing basis. These alternative permissible treatments include normal purchases and normal sales (NPNS), cash flow hedge and fair value hedge accounting. PSEG and PSE&G have applied the NPNS scope exception to certain derivative contracts for the forward sale of generation, power procurement agreements and fuel agreements. PSEG uses interest rate swaps and other derivatives, which are designated and qualifying as cash flow or fair value hedges. PSEG Power enters into additional contracts that are derivatives, but are not designated as either cash flow hedges or fair value hedges. These transactions are economic hedges and are recorded at fair market value with changes recognized in earnings. Commodity Prices Within PSEG and its affiliate companies, PSEG Power has the most exposure to commodity price risk. PSEG Power is exposed to commodity price risk primarily relating to changes in the market price of electricity, natural gas and other commodities. Fluctuations in market prices result from changes in supply and demand, fuel costs, market conditions, weather, state and federal regulatory policies, environmental policies, transmission availability and other factors. PSEG Power uses a variety of derivative and non-derivative instruments, such as financial options, futures, swaps, fuel purchases and forward purchases and sales of electricity, to manage the exposure to fluctuations in commodity prices and optimize the value of PSEG Power’s expected generation. PSEG Power also uses derivatives to hedge a portion of its anticipated BGSS obligations with PSE&G. For additional information see Note 11. Commitments and Contingent Liabilities. Changes in the fair market value of these derivative contracts are recorded in earnings. Interest Rates PSEG, PSE&G and PSEG Power are subject to the risk of fluctuating interest rates in the normal course of business. Exposure to this risk is managed by targeting a balanced debt maturity profile which limits refinancing in any given period or interest rate environment. PSEG, PSE&G and PSEG Power may use a mix of fixed and floating rate debt and interest rate swaps. Cash Flow Hedges PSEG uses interest rate swaps and other derivatives, which are designated and effective as cash flow hedges, to manage its exposure to the variability of cash flows, primarily related to variable-rate debt instruments. There were no outstanding interest rate hedges as of March 31, 2022 and December 31, 2021. The Accumulated Other Comprehensive Income (Loss) (after tax) related to terminated interest rate derivatives designated as cash flow hedges was $(5) million and $(6) million as of March 31, 2022 and December 31, 2021, respectively. The after-tax unrealized losses on these hedges expected to be reclassified to earnings during the next 12 months are $(3) million. Fair Values of Derivative Instruments The following are the fair values of derivative instruments on the Condensed Consolidated Balance Sheets. The following tables also include disclosures for offsetting derivative assets and liabilities which are subject to a master netting or similar agreement. In general, the terms of the agreements provide that in the event of an early termination the counterparties have the right to offset amounts owed or owing under that and any other agreement with the same counterparty. Accordingly, and in accordance with PSEG’s accounting policy, these positions are offset on the Condensed Consolidated Balance Sheets of PSEG. For additional information see Note 14. Fair Value Measurements. Substantially all 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 March 31, 2022 and December 31, 2021. The following tabular disclosure does not include the offsetting of trade receivables and payables. As of March 31, 2022 Not Designated Balance Sheet Location Energy- Netting Total Millions Derivative Contracts Current Assets $ 2,228 $ (2,084) $ 144 Noncurrent Assets 816 (767) 49 Total Mark-to-Market Derivative Assets $ 3,044 $ (2,851) $ 193 Derivative Contracts Current Liabilities $ (3,051) $ 2,892 $ (159) Noncurrent Liabilities (1,303) 1,280 (23) Total Mark-to-Market Derivative (Liabilities) $ (4,354) $ 4,172 $ (182) Total Net Mark-to-Market Derivative Assets (Liabilities) $ (1,310) $ 1,321 $ 11 As of December 31, 2021 Not Designated Balance Sheet Location Energy- Netting Total Millions Derivative Contracts Current Assets $ 816 $ (744) $ 72 Noncurrent Assets 546 (518) 28 Total Mark-to-Market Derivative Assets $ 1,362 $ (1,262) $ 100 Derivative Contracts Current Liabilities $ (1,055) $ 1,038 $ (17) Noncurrent Liabilities (856) 839 (17) Total Mark-to-Market Derivative (Liabilities) $ (1,911) $ 1,877 $ (34) Total Net Mark-to-Market Derivative Assets (Liabilities) $ (549) $ 615 $ 66 (A) 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 March 31, 2022 and December 31, 2021, PSEG Power had net cash collateral (receipts) payments to counterparties of $1,527 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,321 million and $615 million as of March 31, 2022 and December 31, 2021, respectively, were netted against the corresponding net derivative contract positions. Of the $1,321 million as of March 31, 2022, $(22) million was netted against current assets, $(15) million was netted against noncurrent assets, $830 million was netted against current liabilities and $528 million was netted against noncurrent liabilities. Of the $615 million as of December 31, 2021, $(30) million was netted against current assets, $(13) million was netted against noncurrent assets, $323 million was netted against current liabilities and $335 million was netted against noncurrent liabilities. Certain of PSEG Power’s derivative instruments contain provisions that require PSEG Power to post collateral. This collateral may be posted in the form of cash or credit support with thresholds contingent upon PSEG Power’s credit rating from each of the major credit rating agencies. The collateral and credit support requirements vary by contract and by counterparty. These credit risk-related contingent features stipulate that if PSEG Power were to be downgraded to a below investment grade rating by S&P or Moody’s, it would be required to provide additional collateral. A below investment grade credit rating for PSEG Power would represent a two level downgrade from its current Moody’s and S&P ratings. This incremental collateral requirement can offset collateral requirements related to other derivative instruments that are assets with the same counterparty, where the contractual right of offset exists under applicable master agreements. PSEG Power also enters into commodity transactions on the New York Mercantile Exchange (NYMEX) and Intercontinental Exchange (ICE). The NYMEX and ICE clearing houses act as counterparties to each trade. Transactions on the NYMEX and ICE must adhere to comprehensive collateral and margin requirements. The aggregate fair value of all derivative instruments with credit risk-related contingent features in a liability position that are not fully collateralized (excluding transactions on the NYMEX and ICE that are fully collateralized) was $206 million as of March 31, 2022 and $75 million as of December 31, 2021. As of March 31, 2022 and December 31, 2021, PSEG Power had the contractual right of offset of $28 million and $29 million, respectively, related to derivative instruments that are assets with the same counterparty under master agreements and net of margin posted. If PSEG Power had been downgraded to a below investment grade rating, it would have had additional collateral obligations of $178 million and $46 million as of March 31, 2022 and December 31, 2021, respectively, related to its derivatives, net of the contractual right of offset under master agreements and the application of collateral. The following shows the effect on the Condensed Consolidated Statements of Operations and on Accumulated Other Comprehensive Loss (AOCL) of derivative instruments designated as cash flow hedges for the three months ended March 31, 2022 and 2021: Derivatives in Cash Flow Amount of Pre-Tax Location of Amount of Pre-Tax Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Millions Millions PSEG Interest Rate Swaps $ — $ — Interest Expense $ (1) $ (1) Total PSEG $ — $ — $ (1) $ (1) The effect of interest rate cash flow hedges is recorded in Interest Expense in PSEG’s Condensed Consolidated Statement of Operations. For each of the three months ended March 31, 2022 and 2021, the amount of loss on interest rate hedges reclassified from Accumulated Other Comprehensive Loss into income was $(1) million after-tax, respectively. The following reconciles the Accumulated Other Comprehensive Income (Loss) for derivative activity included in the AOCL of PSEG on a pre-tax and after-tax basis. Accumulated Other Comprehensive Income (Loss) Pre-Tax After-Tax Millions Balance as of December 31, 2020 $ (13) $ (9) Loss Recognized in AOCL — — Less: Loss Reclassified into Income 4 3 Balance as of December 31, 2021 $ (9) $ (6) Loss Recognized in AOCL — — Less: Loss Reclassified into Income 1 1 Balance as of March 31, 2022 $ (8) $ (5) The following shows the effect on the Condensed Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as NPNS for the three months ended March 31, 2022 and 2021, respectively. PSEG Power’s derivative contracts reflected in this table include contracts to hedge the purchase and sale of electricity and natural gas, and the purchase of fuel. The table does not include contracts that PSEG Power has designated as NPNS, such as its BGS contracts and certain other energy supply contracts that it has with other utilities and companies with retail load. Derivatives Not Designated as Hedges Location of Pre-Tax Pre-Tax Gain (Loss) Three Months Ended March 31, 2022 2021 Millions Energy-Related Contracts Operating Revenues $ (1,044) $ (46) Energy-Related Contracts Energy Costs — 6 Total $ (1,044) $ (40) The following table summarizes the net notional volume purchases/(sales) of open derivative transactions by commodity as of March 31, 2022 and December 31, 2021. As of As of Type Notional March 31, 2022 December 31, 2021 Millions Natural Gas Dekatherm (Dth) 53 47 Electricity MWh (75) (76) Financial Transmission Rights (FTRs) MWh 18 27 Credit Risk Credit risk relates to the risk of loss that PSEG Power would incur as a result of non-performance by counterparties pursuant to the terms of their contractual obligations. PSEG has established credit policies that it believes significantly minimize credit risk. These policies include an evaluation of potential counterparties’ financial condition (including credit rating), collateral requirements under certain circumstances and the use of standardized agreements, which allow for the netting of positive and negative exposures associated with a single counterparty. In the event of non-performance or non-payment by a major counterparty, there may be a material adverse impact on PSEG’s financial condition, results of operations or net cash flows. The following table provides information on PSEG Power’s credit risk from wholesale counterparties, net of collateral, as of March 31, 2022. It further delineates that exposure by the credit rating of the counterparties, which is determined by the lowest rating from S&P, Moody’s or an internal scoring model. In addition, it provides guidance on the concentration of credit risk to individual counterparties and an indication of the quality of PSEG Power’s credit risk by credit rating of the counterparties. As of March 31, 2022, 96% of the net credit exposure for PSEG Power’s wholesale operations was with investment grade counterparties. Credit exposure is defined as any positive results of netting accounts receivable/accounts payable and the forward value of open positions (which includes all financial instruments including derivatives, NPNS and non-derivatives). Rating Current Securities Held as Collateral Net Number of Net Exposure of Millions Millions Investment Grade $ 270 $ 9 $ 261 1 $ 148 Non-Investment Grade 14 2 12 — — Total $ 284 $ 11 $ 273 1 $ 148 (A) Represents net exposure of $148 million with PSE&G. As of March 31, 2022, collateral held from counterparties where PSEG Power had credit exposure included $11 million in letters of credit. As of March 31, 2022, PSEG Power had 102 active counterparties. PSE&G’s supplier master agreements are approved by the BPU and govern the terms of its electric supply procurement contracts. These agreements define a supplier’s performance assurance requirements and allow a supplier to meet its credit requirements with a certain amount of unsecured credit. The amount of unsecured credit is determined based on the supplier’s credit ratings from the major credit rating agencies and the supplier’s tangible net worth. The credit position is based on the initial market price, which is the forward price of energy on the day the procurement transaction is executed, compared to the forward price curve for energy on the valuation day. To the extent that the forward price curve for energy exceeds the initial market price, the supplier is required to post a parental guaranty or other security instrument such as a letter of credit or cash, as collateral to the extent the credit exposure is greater than the supplier’s unsecured credit limit. As of March 31, 2022, PSEG held parental guaranties, letters of credit and cash as security. PSE&G’s BGS suppliers’ credit exposure is calculated each business day. As of March 31, 2022, PSE&G had credit exposure of $179 million with its suppliers. PSE&G had no credit exposure with PSEG Power. PSE&G is permitted to recover its costs of procuring energy through the BPU-approved BGS tariffs. PSE&G’s counterparty credit risk is mitigated by its ability to recover realized energy costs through customer rates.
Public Service Electric and Gas Company [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Financial Risk Management Activities	Financial Risk Management Activities Derivative accounting guidance requires that a derivative instrument be recognized as either an asset or a liability at fair value, with changes in fair value of the derivative recognized in earnings each period. Other accounting treatments are available through special election and designation provided that the derivative instrument meets specific, restrictive criteria, both at the time of designation and on an ongoing basis. These alternative permissible treatments include normal purchases and normal sales (NPNS), cash flow hedge and fair value hedge accounting. PSEG and PSE&G have applied the NPNS scope exception to certain derivative contracts for the forward sale of generation, power procurement agreements and fuel agreements. PSEG uses interest rate swaps and other derivatives, which are designated and qualifying as cash flow or fair value hedges. PSEG Power enters into additional contracts that are derivatives, but are not designated as either cash flow hedges or fair value hedges. These transactions are economic hedges and are recorded at fair market value with changes recognized in earnings. Commodity Prices Within PSEG and its affiliate companies, PSEG Power has the most exposure to commodity price risk. PSEG Power is exposed to commodity price risk primarily relating to changes in the market price of electricity, natural gas and other commodities. Fluctuations in market prices result from changes in supply and demand, fuel costs, market conditions, weather, state and federal regulatory policies, environmental policies, transmission availability and other factors. PSEG Power uses a variety of derivative and non-derivative instruments, such as financial options, futures, swaps, fuel purchases and forward purchases and sales of electricity, to manage the exposure to fluctuations in commodity prices and optimize the value of PSEG Power’s expected generation. PSEG Power also uses derivatives to hedge a portion of its anticipated BGSS obligations with PSE&G. For additional information see Note 11. Commitments and Contingent Liabilities. Changes in the fair market value of these derivative contracts are recorded in earnings. Interest Rates PSEG, PSE&G and PSEG Power are subject to the risk of fluctuating interest rates in the normal course of business. Exposure to this risk is managed by targeting a balanced debt maturity profile which limits refinancing in any given period or interest rate environment. PSEG, PSE&G and PSEG Power may use a mix of fixed and floating rate debt and interest rate swaps. Cash Flow Hedges PSEG uses interest rate swaps and other derivatives, which are designated and effective as cash flow hedges, to manage its exposure to the variability of cash flows, primarily related to variable-rate debt instruments. There were no outstanding interest rate hedges as of March 31, 2022 and December 31, 2021. The Accumulated Other Comprehensive Income (Loss) (after tax) related to terminated interest rate derivatives designated as cash flow hedges was $(5) million and $(6) million as of March 31, 2022 and December 31, 2021, respectively. The after-tax unrealized losses on these hedges expected to be reclassified to earnings during the next 12 months are $(3) million. Fair Values of Derivative Instruments The following are the fair values of derivative instruments on the Condensed Consolidated Balance Sheets. The following tables also include disclosures for offsetting derivative assets and liabilities which are subject to a master netting or similar agreement. In general, the terms of the agreements provide that in the event of an early termination the counterparties have the right to offset amounts owed or owing under that and any other agreement with the same counterparty. Accordingly, and in accordance with PSEG’s accounting policy, these positions are offset on the Condensed Consolidated Balance Sheets of PSEG. For additional information see Note 14. Fair Value Measurements. Substantially all 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 March 31, 2022 and December 31, 2021. The following tabular disclosure does not include the offsetting of trade receivables and payables. As of March 31, 2022 Not Designated Balance Sheet Location Energy- Netting Total Millions Derivative Contracts Current Assets $ 2,228 $ (2,084) $ 144 Noncurrent Assets 816 (767) 49 Total Mark-to-Market Derivative Assets $ 3,044 $ (2,851) $ 193 Derivative Contracts Current Liabilities $ (3,051) $ 2,892 $ (159) Noncurrent Liabilities (1,303) 1,280 (23) Total Mark-to-Market Derivative (Liabilities) $ (4,354) $ 4,172 $ (182) Total Net Mark-to-Market Derivative Assets (Liabilities) $ (1,310) $ 1,321 $ 11 As of December 31, 2021 Not Designated Balance Sheet Location Energy- Netting Total Millions Derivative Contracts Current Assets $ 816 $ (744) $ 72 Noncurrent Assets 546 (518) 28 Total Mark-to-Market Derivative Assets $ 1,362 $ (1,262) $ 100 Derivative Contracts Current Liabilities $ (1,055) $ 1,038 $ (17) Noncurrent Liabilities (856) 839 (17) Total Mark-to-Market Derivative (Liabilities) $ (1,911) $ 1,877 $ (34) Total Net Mark-to-Market Derivative Assets (Liabilities) $ (549) $ 615 $ 66 (A) 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 March 31, 2022 and December 31, 2021, PSEG Power had net cash collateral (receipts) payments to counterparties of $1,527 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,321 million and $615 million as of March 31, 2022 and December 31, 2021, respectively, were netted against the corresponding net derivative contract positions. Of the $1,321 million as of March 31, 2022, $(22) million was netted against current assets, $(15) million was netted against noncurrent assets, $830 million was netted against current liabilities and $528 million was netted against noncurrent liabilities. Of the $615 million as of December 31, 2021, $(30) million was netted against current assets, $(13) million was netted against noncurrent assets, $323 million was netted against current liabilities and $335 million was netted against noncurrent liabilities. Certain of PSEG Power’s derivative instruments contain provisions that require PSEG Power to post collateral. This collateral may be posted in the form of cash or credit support with thresholds contingent upon PSEG Power’s credit rating from each of the major credit rating agencies. The collateral and credit support requirements vary by contract and by counterparty. These credit risk-related contingent features stipulate that if PSEG Power were to be downgraded to a below investment grade rating by S&P or Moody’s, it would be required to provide additional collateral. A below investment grade credit rating for PSEG Power would represent a two level downgrade from its current Moody’s and S&P ratings. This incremental collateral requirement can offset collateral requirements related to other derivative instruments that are assets with the same counterparty, where the contractual right of offset exists under applicable master agreements. PSEG Power also enters into commodity transactions on the New York Mercantile Exchange (NYMEX) and Intercontinental Exchange (ICE). The NYMEX and ICE clearing houses act as counterparties to each trade. Transactions on the NYMEX and ICE must adhere to comprehensive collateral and margin requirements. The aggregate fair value of all derivative instruments with credit risk-related contingent features in a liability position that are not fully collateralized (excluding transactions on the NYMEX and ICE that are fully collateralized) was $206 million as of March 31, 2022 and $75 million as of December 31, 2021. As of March 31, 2022 and December 31, 2021, PSEG Power had the contractual right of offset of $28 million and $29 million, respectively, related to derivative instruments that are assets with the same counterparty under master agreements and net of margin posted. If PSEG Power had been downgraded to a below investment grade rating, it would have had additional collateral obligations of $178 million and $46 million as of March 31, 2022 and December 31, 2021, respectively, related to its derivatives, net of the contractual right of offset under master agreements and the application of collateral. The following shows the effect on the Condensed Consolidated Statements of Operations and on Accumulated Other Comprehensive Loss (AOCL) of derivative instruments designated as cash flow hedges for the three months ended March 31, 2022 and 2021: Derivatives in Cash Flow Amount of Pre-Tax Location of Amount of Pre-Tax Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Millions Millions PSEG Interest Rate Swaps $ — $ — Interest Expense $ (1) $ (1) Total PSEG $ — $ — $ (1) $ (1) The effect of interest rate cash flow hedges is recorded in Interest Expense in PSEG’s Condensed Consolidated Statement of Operations. For each of the three months ended March 31, 2022 and 2021, the amount of loss on interest rate hedges reclassified from Accumulated Other Comprehensive Loss into income was $(1) million after-tax, respectively. The following reconciles the Accumulated Other Comprehensive Income (Loss) for derivative activity included in the AOCL of PSEG on a pre-tax and after-tax basis. Accumulated Other Comprehensive Income (Loss) Pre-Tax After-Tax Millions Balance as of December 31, 2020 $ (13) $ (9) Loss Recognized in AOCL — — Less: Loss Reclassified into Income 4 3 Balance as of December 31, 2021 $ (9) $ (6) Loss Recognized in AOCL — — Less: Loss Reclassified into Income 1 1 Balance as of March 31, 2022 $ (8) $ (5) The following shows the effect on the Condensed Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as NPNS for the three months ended March 31, 2022 and 2021, respectively. PSEG Power’s derivative contracts reflected in this table include contracts to hedge the purchase and sale of electricity and natural gas, and the purchase of fuel. The table does not include contracts that PSEG Power has designated as NPNS, such as its BGS contracts and certain other energy supply contracts that it has with other utilities and companies with retail load. Derivatives Not Designated as Hedges Location of Pre-Tax Pre-Tax Gain (Loss) Three Months Ended March 31, 2022 2021 Millions Energy-Related Contracts Operating Revenues $ (1,044) $ (46) Energy-Related Contracts Energy Costs — 6 Total $ (1,044) $ (40) The following table summarizes the net notional volume purchases/(sales) of open derivative transactions by commodity as of March 31, 2022 and December 31, 2021. As of As of Type Notional March 31, 2022 December 31, 2021 Millions Natural Gas Dekatherm (Dth) 53 47 Electricity MWh (75) (76) Financial Transmission Rights (FTRs) MWh 18 27 Credit Risk Credit risk relates to the risk of loss that PSEG Power would incur as a result of non-performance by counterparties pursuant to the terms of their contractual obligations. PSEG has established credit policies that it believes significantly minimize credit risk. These policies include an evaluation of potential counterparties’ financial condition (including credit rating), collateral requirements under certain circumstances and the use of standardized agreements, which allow for the netting of positive and negative exposures associated with a single counterparty. In the event of non-performance or non-payment by a major counterparty, there may be a material adverse impact on PSEG’s financial condition, results of operations or net cash flows. The following table provides information on PSEG Power’s credit risk from wholesale counterparties, net of collateral, as of March 31, 2022. It further delineates that exposure by the credit rating of the counterparties, which is determined by the lowest rating from S&P, Moody’s or an internal scoring model. In addition, it provides guidance on the concentration of credit risk to individual counterparties and an indication of the quality of PSEG Power’s credit risk by credit rating of the counterparties. As of March 31, 2022, 96% of the net credit exposure for PSEG Power’s wholesale operations was with investment grade counterparties. Credit exposure is defined as any positive results of netting accounts receivable/accounts payable and the forward value of open positions (which includes all financial instruments including derivatives, NPNS and non-derivatives). Rating Current Securities Held as Collateral Net Number of Net Exposure of Millions Millions Investment Grade $ 270 $ 9 $ 261 1 $ 148 Non-Investment Grade 14 2 12 — — Total $ 284 $ 11 $ 273 1 $ 148 (A) Represents net exposure of $148 million with PSE&G. As of March 31, 2022, collateral held from counterparties where PSEG Power had credit exposure included $11 million in letters of credit. As of March 31, 2022, PSEG Power had 102 active counterparties. PSE&G’s supplier master agreements are approved by the BPU and govern the terms of its electric supply procurement contracts. These agreements define a supplier’s performance assurance requirements and allow a supplier to meet its credit requirements with a certain amount of unsecured credit. The amount of unsecured credit is determined based on the supplier’s credit ratings from the major credit rating agencies and the supplier’s tangible net worth. The credit position is based on the initial market price, which is the forward price of energy on the day the procurement transaction is executed, compared to the forward price curve for energy on the valuation day. To the extent that the forward price curve for energy exceeds the initial market price, the supplier is required to post a parental guaranty or other security instrument such as a letter of credit or cash, as collateral to the extent the credit exposure is greater than the supplier’s unsecured credit limit. As of March 31, 2022, PSEG held parental guaranties, letters of credit and cash as security. PSE&G’s BGS suppliers’ credit exposure is calculated each business day. As of March 31, 2022, PSE&G had credit exposure of $179 million with its suppliers. PSE&G had no credit exposure with PSEG Power. PSE&G is permitted to recover its costs of procuring energy through the BPU-approved BGS tariffs. PSE&G’s counterparty credit risk is mitigated by its ability to recover realized energy costs through customer rates.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Accounting guidance for fair value measurement emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and establishes a fair value hierarchy that distinguishes between assumptions based on market data obtained from independent sources and those based on an entity’s own assumptions. The hierarchy prioritizes the inputs to fair value measurement into three levels: Level 1—measurements utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that PSEG and PSE&G have the ability to access. These consist primarily of listed equity securities and money market mutual funds, as well as natural gas futures contracts executed on NYMEX. Level 2—measurements include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and other observable inputs such as interest rates and yield curves that are observable at commonly quoted intervals. These consist primarily of non-exchange traded derivatives such as forward contracts or options and most fixed income securities. Level 3—measurements use unobservable inputs for assets or liabilities, based on the best information available and might include an entity’s own data and assumptions. In some valuations, the inputs used may fall into different levels of the hierarchy. In these cases, the financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. These consist primarily of certain electric load contracts. Certain derivative transactions may transfer from Level 2 to Level 3 if inputs become unobservable and internal modeling techniques are employed to determine fair value. Conversely, measurements may transfer from Level 3 to Level 2 if the inputs become observable. The following tables present information about PSEG’s and PSE&G’s respective assets and (liabilities) measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Amounts shown for PSEG include the amounts shown for PSE&G. Recurring Fair Value Measurements as of March 31, 2022 Description Total Netting (D) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Millions PSEG Assets: Cash Equivalents (A) $ 1,535 $ — $ 1,535 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 193 $ (2,851) $ 25 $ 3,018 $ 1 NDT Fund (C) Equity Securities $ 1,232 $ — $ 1,232 $ — $ — Debt Securities—U.S. Treasury $ 289 $ — $ — $ 289 $ — Debt Securities—Govt Other $ 351 $ — $ — $ 351 $ — Debt Securities—Corporate $ 617 $ — $ — $ 617 $ — Rabbi Trust (C) Equity Securities $ 25 $ — $ 25 $ — $ — Debt Securities—U.S. Treasury $ 71 $ — $ — $ 71 $ — Debt Securities—Govt Other $ 32 $ — $ — $ 32 $ — Debt Securities—Corporate $ 91 $ — $ — $ 91 $ — Liabilities: Derivative Contracts: Energy-Related Contracts (B) $ (182) $ 4,172 $ (58) $ (4,288) $ (8) PSE&G Assets: Cash Equivalents (A) $ 875 $ — $ 875 $ — $ — Rabbi Trust (C) Equity Securities $ 4 $ — $ 4 $ — $ — Debt Securities—U.S. Treasury $ 13 $ — $ — $ 13 $ — Debt Securities—Govt Other $ 6 $ — $ — $ 6 $ — Debt Securities—Corporate $ 16 $ — $ — $ 16 $ — Recurring Fair Value Measurements as of December 31, 2021 Description Total Netting (D) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Millions PSEG Assets: Cash Equivalents (A) $ 615 $ — $ 615 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 100 $ (1,262) $ 25 $ 1,336 $ 1 NDT Fund (C) Equity Securities $ 1,301 $ — $ 1,301 $ — $ — Debt Securities—U.S. Treasury $ 314 $ — $ — $ 314 $ — Debt Securities—Govt Other $ 373 $ — $ — $ 373 $ — Debt Securities—Corporate $ 647 $ — $ — $ 647 $ — Rabbi Trust (C) Equity Securities $ 26 $ — $ 26 $ — $ — Debt Securities—U.S. Treasury $ 73 $ — $ — $ 73 $ — Debt Securities—Govt Other $ 34 $ — $ — $ 34 $ — Debt Securities—Corporate $ 109 $ — $ — $ 109 $ — Liabilities: Derivative Contracts: Energy-Related Contracts (B) $ (34) $ 1,877 $ (26) $ (1,880) $ (5) PSE&G Assets: Cash Equivalents (A) $ 250 $ — $ 250 $ — $ — Rabbi Trust (C) Equity Securities $ 5 $ — $ 5 $ — $ — Debt Securities—U.S. Treasury $ 13 $ — $ — $ 13 $ — Debt Securities—Govt Other $ 6 $ — $ — $ 6 $ — Debt Securities—Corporate $ 19 $ — $ — $ 19 $ — (A) Represents money market mutual funds. (B) 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. (C) The fair value measurement table excludes foreign currency of $2 million in the NDT Fund as of March 31, 2022 and December 31, 2021. The NDT Fund maintains investments in various equity and fixed income securities. The Rabbi Trust maintains investments in a Russell 3000 index fund and various fixed income securities. These securities are generally valued with prices that are either exchange provided (equity securities) or market transactions for comparable securities and/or broker quotes (fixed income securities). Level 1—Investments in marketable equity securities within the NDT Fund are primarily investments in common stocks across a broad range of industries and sectors. Most equity securities are priced utilizing the principal market close price or, in some cases, midpoint, bid or ask price. Certain other equity securities in the NDT and Rabbi Trust Funds consist primarily of investments in money market funds which seek a high level of current income as is consistent with the preservation of capital and the maintenance of liquidity. To pursue its goals, the funds normally invest in diversified portfolios of high quality, short-term, dollar-denominated debt securities and government securities. The funds’ net asset value is priced and published daily. The Rabbi Trust’s Russell 3000 index fund is valued based on quoted prices in an active market and can be redeemed daily without restriction. Level 2—NDT and Rabbi Trust fixed income securities include investment grade corporate bonds, collateralized mortgage obligations, asset-backed securities and certain government and U.S. Treasury obligations or Federal Agency asset-backed securities and municipal bonds with a wide range of maturities. Since many fixed income securities do not trade on a daily basis, they are priced using an evaluated pricing methodology that varies by asset class and reflects observable market information such as the most recent exchange price or quoted bid for similar securities. Market-based standard inputs typically include benchmark yields, reported trades, broker/dealer quotes and issuer spreads. Certain short-term investments are valued using observable market prices or market parameters such as time-to-maturity, coupon rate, quality rating and current yield. (D) 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. Additional Information Regarding Level 3 Measurements For valuations that include both observable and unobservable inputs, if the unobservable input is determined to be significant to the overall inputs, the entire valuation is categorized in Level 3. This includes derivatives valued using indicative price quotations for contracts with tenors that extend into periods with no observable pricing. In instances where observable data is unavailable, consideration is given to the assumptions that market participants would use in valuing the asset or liability. This includes assumptions about market risks such as liquidity, volatility and contract duration. Such instruments are categorized in Level 3 because the model inputs generally are not observable. PSEG considers credit and non-performance risk in the valuation of derivative contracts categorized in Levels 2 and 3, including both historical and current market data, in its assessment of credit and non-performance risk by counterparty. The impacts of credit and non-performance risk were not material to the financial statements. As of March 31, 2022, PSEG carried $4.3 billion of net assets that are measured at fair value on a recurring basis, of which $7 million of net liabilities were measured using unobservable inputs and classified as Level 3 within the fair value hierarchy and are considered immaterial. As of March 31, 2021, PSEG carried $3.4 billion of net assets that are measured at fair value on a recurring basis, of which $1 million of net liabilities were measured using unobservable inputs and classified as Level 3 within the fair value hierarchy and are considered immaterial. There were no transfers to or from Level 3 during the three months ended March 31, 2022 and 2021, respectively. Fair Value of Debt The estimated fair values, carrying amounts and methods used to determine fair value of long-term debt as of March 31, 2022 and December 31, 2021 are included in the following table and accompanying notes. As of As of March 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Millions Long-Term Debt: PSEG (A) $ 4,126 $ 3,964 $ 4,124 $ 4,172 PSE&G (A) 12,292 12,432 11,795 13,374 PSEG Power (B) 1,250 1,250 — — Total Long-Term Debt $ 17,668 $ 17,646 $ 15,919 $ 17,546 (A) Given that these bonds do not trade actively, the fair value amounts of taxable debt securities (primarily Level 2 measurements) are generally determined by a valuation model using market-based measurements that are processed through a rules-based pricing methodology. The fair value amounts above do not represent the price at which the outstanding debt may be called for redemption by each issuer under their respective debt agreements. (B) Private term loan with book value approximating fair value (Level 2 measurement).
Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Accounting guidance for fair value measurement emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and establishes a fair value hierarchy that distinguishes between assumptions based on market data obtained from independent sources and those based on an entity’s own assumptions. The hierarchy prioritizes the inputs to fair value measurement into three levels: Level 1—measurements utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that PSEG and PSE&G have the ability to access. These consist primarily of listed equity securities and money market mutual funds, as well as natural gas futures contracts executed on NYMEX. Level 2—measurements include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and other observable inputs such as interest rates and yield curves that are observable at commonly quoted intervals. These consist primarily of non-exchange traded derivatives such as forward contracts or options and most fixed income securities. Level 3—measurements use unobservable inputs for assets or liabilities, based on the best information available and might include an entity’s own data and assumptions. In some valuations, the inputs used may fall into different levels of the hierarchy. In these cases, the financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. These consist primarily of certain electric load contracts. Certain derivative transactions may transfer from Level 2 to Level 3 if inputs become unobservable and internal modeling techniques are employed to determine fair value. Conversely, measurements may transfer from Level 3 to Level 2 if the inputs become observable. The following tables present information about PSEG’s and PSE&G’s respective assets and (liabilities) measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Amounts shown for PSEG include the amounts shown for PSE&G. Recurring Fair Value Measurements as of March 31, 2022 Description Total Netting (D) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Millions PSEG Assets: Cash Equivalents (A) $ 1,535 $ — $ 1,535 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 193 $ (2,851) $ 25 $ 3,018 $ 1 NDT Fund (C) Equity Securities $ 1,232 $ — $ 1,232 $ — $ — Debt Securities—U.S. Treasury $ 289 $ — $ — $ 289 $ — Debt Securities—Govt Other $ 351 $ — $ — $ 351 $ — Debt Securities—Corporate $ 617 $ — $ — $ 617 $ — Rabbi Trust (C) Equity Securities $ 25 $ — $ 25 $ — $ — Debt Securities—U.S. Treasury $ 71 $ — $ — $ 71 $ — Debt Securities—Govt Other $ 32 $ — $ — $ 32 $ — Debt Securities—Corporate $ 91 $ — $ — $ 91 $ — Liabilities: Derivative Contracts: Energy-Related Contracts (B) $ (182) $ 4,172 $ (58) $ (4,288) $ (8) PSE&G Assets: Cash Equivalents (A) $ 875 $ — $ 875 $ — $ — Rabbi Trust (C) Equity Securities $ 4 $ — $ 4 $ — $ — Debt Securities—U.S. Treasury $ 13 $ — $ — $ 13 $ — Debt Securities—Govt Other $ 6 $ — $ — $ 6 $ — Debt Securities—Corporate $ 16 $ — $ — $ 16 $ — Recurring Fair Value Measurements as of December 31, 2021 Description Total Netting (D) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Millions PSEG Assets: Cash Equivalents (A) $ 615 $ — $ 615 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 100 $ (1,262) $ 25 $ 1,336 $ 1 NDT Fund (C) Equity Securities $ 1,301 $ — $ 1,301 $ — $ — Debt Securities—U.S. Treasury $ 314 $ — $ — $ 314 $ — Debt Securities—Govt Other $ 373 $ — $ — $ 373 $ — Debt Securities—Corporate $ 647 $ — $ — $ 647 $ — Rabbi Trust (C) Equity Securities $ 26 $ — $ 26 $ — $ — Debt Securities—U.S. Treasury $ 73 $ — $ — $ 73 $ — Debt Securities—Govt Other $ 34 $ — $ — $ 34 $ — Debt Securities—Corporate $ 109 $ — $ — $ 109 $ — Liabilities: Derivative Contracts: Energy-Related Contracts (B) $ (34) $ 1,877 $ (26) $ (1,880) $ (5) PSE&G Assets: Cash Equivalents (A) $ 250 $ — $ 250 $ — $ — Rabbi Trust (C) Equity Securities $ 5 $ — $ 5 $ — $ — Debt Securities—U.S. Treasury $ 13 $ — $ — $ 13 $ — Debt Securities—Govt Other $ 6 $ — $ — $ 6 $ — Debt Securities—Corporate $ 19 $ — $ — $ 19 $ — (A) Represents money market mutual funds. (B) 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. (C) The fair value measurement table excludes foreign currency of $2 million in the NDT Fund as of March 31, 2022 and December 31, 2021. The NDT Fund maintains investments in various equity and fixed income securities. The Rabbi Trust maintains investments in a Russell 3000 index fund and various fixed income securities. These securities are generally valued with prices that are either exchange provided (equity securities) or market transactions for comparable securities and/or broker quotes (fixed income securities). Level 1—Investments in marketable equity securities within the NDT Fund are primarily investments in common stocks across a broad range of industries and sectors. Most equity securities are priced utilizing the principal market close price or, in some cases, midpoint, bid or ask price. Certain other equity securities in the NDT and Rabbi Trust Funds consist primarily of investments in money market funds which seek a high level of current income as is consistent with the preservation of capital and the maintenance of liquidity. To pursue its goals, the funds normally invest in diversified portfolios of high quality, short-term, dollar-denominated debt securities and government securities. The funds’ net asset value is priced and published daily. The Rabbi Trust’s Russell 3000 index fund is valued based on quoted prices in an active market and can be redeemed daily without restriction. Level 2—NDT and Rabbi Trust fixed income securities include investment grade corporate bonds, collateralized mortgage obligations, asset-backed securities and certain government and U.S. Treasury obligations or Federal Agency asset-backed securities and municipal bonds with a wide range of maturities. Since many fixed income securities do not trade on a daily basis, they are priced using an evaluated pricing methodology that varies by asset class and reflects observable market information such as the most recent exchange price or quoted bid for similar securities. Market-based standard inputs typically include benchmark yields, reported trades, broker/dealer quotes and issuer spreads. Certain short-term investments are valued using observable market prices or market parameters such as time-to-maturity, coupon rate, quality rating and current yield. (D) 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. Additional Information Regarding Level 3 Measurements For valuations that include both observable and unobservable inputs, if the unobservable input is determined to be significant to the overall inputs, the entire valuation is categorized in Level 3. This includes derivatives valued using indicative price quotations for contracts with tenors that extend into periods with no observable pricing. In instances where observable data is unavailable, consideration is given to the assumptions that market participants would use in valuing the asset or liability. This includes assumptions about market risks such as liquidity, volatility and contract duration. Such instruments are categorized in Level 3 because the model inputs generally are not observable. PSEG considers credit and non-performance risk in the valuation of derivative contracts categorized in Levels 2 and 3, including both historical and current market data, in its assessment of credit and non-performance risk by counterparty. The impacts of credit and non-performance risk were not material to the financial statements. As of March 31, 2022, PSEG carried $4.3 billion of net assets that are measured at fair value on a recurring basis, of which $7 million of net liabilities were measured using unobservable inputs and classified as Level 3 within the fair value hierarchy and are considered immaterial. As of March 31, 2021, PSEG carried $3.4 billion of net assets that are measured at fair value on a recurring basis, of which $1 million of net liabilities were measured using unobservable inputs and classified as Level 3 within the fair value hierarchy and are considered immaterial. There were no transfers to or from Level 3 during the three months ended March 31, 2022 and 2021, respectively. Fair Value of Debt The estimated fair values, carrying amounts and methods used to determine fair value of long-term debt as of March 31, 2022 and December 31, 2021 are included in the following table and accompanying notes. As of As of March 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Millions Long-Term Debt: PSEG (A) $ 4,126 $ 3,964 $ 4,124 $ 4,172 PSE&G (A) 12,292 12,432 11,795 13,374 PSEG Power (B) 1,250 1,250 — — Total Long-Term Debt $ 17,668 $ 17,646 $ 15,919 $ 17,546 (A) Given that these bonds do not trade actively, the fair value amounts of taxable debt securities (primarily Level 2 measurements) are generally determined by a valuation model using market-based measurements that are processed through a rules-based pricing methodology. The fair value amounts above do not represent the price at which the outstanding debt may be called for redemption by each issuer under their respective debt agreements. (B) Private term loan with book value approximating fair value (Level 2 measurement).

Other Income (Deductions)

Other Income (Deductions)	3 Months Ended
	Mar. 31, 2022
Component of Other Income (Deductions) [Line Items]
Other Income (Deductions)	Other Income (Deductions) PSE&G Other (A) Consolidated Millions Three Months Ended March 31, 2022 NDT Fund Interest and Dividends $ — $ 14 $ 14 Allowance for Funds Used During Construction 15 — 15 Solar Loan Interest 3 — 3 Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (27) (27) Other 1 (1) — Total Other Income (Deductions) $ 19 $ (14) $ 5 Three Months Ended March 31, 2021 NDT Fund Interest and Dividends $ — $ 13 $ 13 Allowance for Funds Used During Construction 23 — 23 Solar Loan Interest 3 — 3 Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (16) (16) Other 2 — 2 Total Other Income (Deductions) $ 28 $ (3) $ 25 (A) Other consists of activity at PSEG (as parent company), PSEG Power, Energy Holdings, Services, PSEG LI and intercompany eliminations.
Public Service Electric and Gas Company [Member]
Component of Other Income (Deductions) [Line Items]
Other Income (Deductions)	Other Income (Deductions) PSE&G Other (A) Consolidated Millions Three Months Ended March 31, 2022 NDT Fund Interest and Dividends $ — $ 14 $ 14 Allowance for Funds Used During Construction 15 — 15 Solar Loan Interest 3 — 3 Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (27) (27) Other 1 (1) — Total Other Income (Deductions) $ 19 $ (14) $ 5 Three Months Ended March 31, 2021 NDT Fund Interest and Dividends $ — $ 13 $ 13 Allowance for Funds Used During Construction 23 — 23 Solar Loan Interest 3 — 3 Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (16) (16) Other 2 — 2 Total Other Income (Deductions) $ 28 $ (3) $ 25 (A) Other consists of activity at PSEG (as parent company), PSEG Power, Energy Holdings, Services, PSEG LI and intercompany eliminations.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Taxes [Line Items]
Income Taxes	Income Taxes A reconciliation of reported income tax expense for PSEG with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows: Three Months Ended PSEG March 31, 2022 2021 Millions Pre-Tax Income (Loss) $ (154) $ 765 Tax Computed at Statutory Rate 21% $ (32) $ 161 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) (29) 41 NDT Fund (6) 8 Audit Settlement — (7) Green Program Recovery Charges (GPRC)-CEF-Energy Efficiency (EE) (6) (1) Tax Adjustment Credit (TAC) (73) (78) Other (6) (7) Subtotal (120) (44) Total Income Tax Expense (Benefit) $ (152) $ 117 Effective Income Tax Rate 98.7 % 15.3 % A reconciliation of reported income tax expense for PSE&G with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows: Three Months Ended PSE&G March 31, 2022 2021 Millions Pre-Tax Income $ 598 $ 556 Tax Computed at Statutory Rate 21% $ 126 $ 117 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) 41 38 GPRC-CEF-EE (6) (1) TAC (73) (78) Other 1 3 Subtotal (37) (38) Total Income Tax Expense (Benefit) $ 89 $ 79 Effective Income Tax Rate 14.9 % 14.2 % PSEG expects that a prolonged economic recovery may result in additional federal and state tax legislation that can have a material impact on PSEG’s and PSE&G’s effective tax rate and cash tax position. Amounts recorded under the Tax Cuts and Jobs Act of 2017 and Coronavirus Aid, Relief, and Economic Security Act are subject to change based on several factors, including whether the Internal Revenue Service or state taxing authorities issue additional guidance and/or further clarification. Any further guidance or clarification could impact PSEG’s and PSE&G’s financial statements.
Public Service Electric and Gas Company [Member]
Income Taxes [Line Items]
Income Taxes	Income Taxes A reconciliation of reported income tax expense for PSEG with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows: Three Months Ended PSEG March 31, 2022 2021 Millions Pre-Tax Income (Loss) $ (154) $ 765 Tax Computed at Statutory Rate 21% $ (32) $ 161 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) (29) 41 NDT Fund (6) 8 Audit Settlement — (7) Green Program Recovery Charges (GPRC)-CEF-Energy Efficiency (EE) (6) (1) Tax Adjustment Credit (TAC) (73) (78) Other (6) (7) Subtotal (120) (44) Total Income Tax Expense (Benefit) $ (152) $ 117 Effective Income Tax Rate 98.7 % 15.3 % A reconciliation of reported income tax expense for PSE&G with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows: Three Months Ended PSE&G March 31, 2022 2021 Millions Pre-Tax Income $ 598 $ 556 Tax Computed at Statutory Rate 21% $ 126 $ 117 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) 41 38 GPRC-CEF-EE (6) (1) TAC (73) (78) Other 1 3 Subtotal (37) (38) Total Income Tax Expense (Benefit) $ 89 $ 79 Effective Income Tax Rate 14.9 % 14.2 % PSEG expects that a prolonged economic recovery may result in additional federal and state tax legislation that can have a material impact on PSEG’s and PSE&G’s effective tax rate and cash tax position. Amounts recorded under the Tax Cuts and Jobs Act of 2017 and Coronavirus Aid, Relief, and Economic Security Act are subject to change based on several factors, including whether the Internal Revenue Service or state taxing authorities issue additional guidance and/or further clarification. Any further guidance or clarification could impact PSEG’s and PSE&G’s financial statements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss), Net of Tax	3 Months Ended
	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss), Net of Tax	Accumulated Other Comprehensive Income (Loss), Net of Tax PSEG Three Months Ended March 31, 2022 Accumulated Other Comprehensive Income (Loss) Cash Flow Hedges Pension and OPEB Plans Available-for-Sale Securities Total Millions Balance as of December 31, 2021 $ (6) $ (355) $ 11 $ (350) Other Comprehensive Income (Loss) before Reclassifications — — (65) (65) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 1 — 4 5 Net Current Period Other Comprehensive Income (Loss) 1 — (61) (60) Balance as of March 31, 2022 $ (5) $ (355) $ (50) $ (410) Three Months Ended March 31, 2021 Accumulated Other Comprehensive Income (Loss) Cash Flow Hedges Pension and OPEB Plans Available-for-Sale Securities Total Millions Balance as of December 31, 2020 $ (9) $ (545) $ 50 $ (504) Other Comprehensive Income (Loss) before Reclassifications — — (40) (40) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 1 3 (2) 2 Net Current Period Other Comprehensive Income (Loss) 1 3 (42) (38) Balance as of March 31, 2021 $ (8) $ (542) $ 8 $ (542) PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Three Months Ended March 31, 2022 Description of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Location of Pre-Tax Amount In Statement of Operations Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Millions Cash Flow Hedges Interest Rate Swaps Interest Expense $ (1) $ — $ (1) Total Cash Flow Hedges (1) — (1) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 5 (1) 4 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (5) 1 (4) Total Pension and OPEB Plans — — — Available-for-Sale Debt Securities Realized Gains (Losses) Net Gains (Losses) on Trust Investments (6) 2 (4) Total Available-for-Sale Debt Securities (6) 2 (4) Total $ (7) $ 2 $ (5) PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Three Months Ended March 31, 2021 Description of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Location of Pre-Tax Amount In Statement of Operations Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Millions Cash Flow Hedges Interest Rate Swaps Interest Expense $ (1) $ — $ (1) Total Cash Flow Hedges (1) — (1) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 5 (1) 4 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (10) 3 (7) Total Pension and OPEB Plans (5) 2 (3) Available-for-Sale Debt Securities Realized Gains (Losses) Net Gains (Losses) on Trust Investments 3 (1) 2 Total Available-for-Sale Debt Securities 3 (1) 2 Total $ (3) $ 1 $ (2)

Earnings Per Share (EPS) and Di

Earnings Per Share (EPS) and Dividends	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share (EPS) and Dividends	Earnings Per Share (EPS) and Dividends EPS Basic EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares of common stock outstanding. Diluted EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares of common stock outstanding, plus dilutive potential shares related to PSEG’s stock based compensation. The following table shows the effect of these dilutive potential shares on the weighted average number of shares outstanding used in calculating diluted EPS: Three Months Ended March 31, 2022 2021 Basic Diluted Basic Diluted EPS Numerator (Millions): Net Income (Loss) $ (2) $ (2) $ 648 $ 648 EPS Denominator (Millions): Weighted Average Common Shares Outstanding 501 501 504 504 Effect of Stock Based Compensation Awards — — — 3 Total Shares 501 501 504 507 EPS Net Income (Loss) $ 0.00 $ 0.00 $ 1.29 $ 1.28 Approximately 3 million potentially dilutive shares were excluded from total shares used to calculate the diluted loss per share for the three months ended March 31, 2022 as their impact was antidilutive. In 2021, the Board of Directors authorized senior management to implement a $500 million share repurchase program. In December 2021, under this authorization PSEG entered into an open market share repurchase plan for $250 million of our common shares that complies with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. There were no common share repurchases during the fourth quarter of 2021. During January and through February 16, 2022, PSEG purchased the full $250 million of common shares under the open market share repurchase plan. In March 2022, PSEG entered into a Master Confirmation and Supplemental Confirmation with an investment banking firm to effect an accelerated share repurchase agreement (ASR Agreement) of $250 million of shares of PSEG’s outstanding Common Stock. The share repurchases pursuant to the ASR Agreement will be completed under PSEG’s current share repurchase authorization. Under the ASR Agreement, PSEG received initial delivery of approximately 3.0 million shares of Common Stock in mid-March, representing approximately 80% of the total number of shares of Common Stock initially underlying the ASR Agreement, based on the closing price of the Common Stock of $65.72 on March 11, 2022. The total number of shares that PSEG will repurchase under the ASR Agreement will be based on the volume-weighted average price of the Common Stock during the term of the ASR Agreement, less a discount, and subject to potential adjustments pursuant to the terms and conditions of the ASR Agreement. The ASR Agreement provides that final settlement of the shares of Common Stock repurchased under the ASR Agreement will generally occur in June 2022, unless the scheduled termination date of the ASR Agreement is accelerated. If the final settlement is in PSEG’s favor, the obligations to PSEG will be satisfied by delivery of additional shares of PSEG’s Common Stock and cash payment for any fractional shares. If final settlement is in the investment banking firm’s favor, PSEG’s obligations will be satisfied by delivery of either cash or shares of PSEG’s Common Stock at PSEG’s election. Dividends Three Months Ended March 31, Dividend Payments on Common Stock 2022 2021 Per Share $ 0.54 $ 0.51 In Millions $ 271 $ 258

Financial Information By Busine

Financial Information By Business Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting Information [Line Items]
Financial Information By Business Segments	Financial Information by Business Segment PSE&G PSEG Power Other (A) Eliminations (B) Consolidated Total Millions Three Months Ended March 31, 2022 Operating Revenues $ 2,284 $ 460 $ 153 $ (584) $ 2,313 Net Income (Loss) 509 (519) 8 — (2) Gross Additions to Long-Lived Assets 628 56 2 — 686 Three Months Ended March 31, 2021 Operating Revenues $ 2,073 $ 1,167 $ 151 $ (502) $ 2,889 Net Income (Loss) 477 161 10 — 648 Gross Additions to Long-Lived Assets 586 46 1 — 633 As of March 31, 2022 Total Assets $ 38,399 $ 7,536 $ 3,135 $ (1,296) $ 47,774 Investments in Equity Method Subsidiaries $ — $ 65 $ 124 $ — $ 189 As of December 31, 2021 Total Assets $ 37,198 $ 9,777 $ 5,150 $ (3,126) $ 48,999 Investments in Equity Method Subsidiaries $ — $ 62 $ 111 $ — $ 173 (A) Includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent company) and Services.
Public Service Electric and Gas Company [Member]
Segment Reporting Information [Line Items]
Financial Information By Business Segments	Financial Information by Business Segment PSE&G PSEG Power Other (A) Eliminations (B) Consolidated Total Millions Three Months Ended March 31, 2022 Operating Revenues $ 2,284 $ 460 $ 153 $ (584) $ 2,313 Net Income (Loss) 509 (519) 8 — (2) Gross Additions to Long-Lived Assets 628 56 2 — 686 Three Months Ended March 31, 2021 Operating Revenues $ 2,073 $ 1,167 $ 151 $ (502) $ 2,889 Net Income (Loss) 477 161 10 — 648 Gross Additions to Long-Lived Assets 586 46 1 — 633 As of March 31, 2022 Total Assets $ 38,399 $ 7,536 $ 3,135 $ (1,296) $ 47,774 Investments in Equity Method Subsidiaries $ — $ 65 $ 124 $ — $ 189 As of December 31, 2021 Total Assets $ 37,198 $ 9,777 $ 5,150 $ (3,126) $ 48,999 Investments in Equity Method Subsidiaries $ — $ 62 $ 111 $ — $ 173 (A) Includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent company) and Services.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transaction [Line Items]
Related-Party Transactions	Related-Party Transactions The following discussion relates to intercompany transactions, which are eliminated during the PSEG consolidation process in accordance with GAAP. PSE&G The financial statements for PSE&G include transactions with related parties presented as follows: Three Months Ended March 31, Related-Party Transactions 2022 2021 Millions Billings from Affiliates: Net Billings from PSEG Power (A) $ 580 $ 495 Administrative Billings from Services (B) 99 87 Total Billings from Affiliates $ 679 $ 582 As of As of Related-Party Transactions March 31, 2022 December 31, 2021 Millions Payable to PSEG Power (A) $ 195 $ 244 Payable to Services (B) 87 111 Payable to PSEG (C) 138 63 Accounts Payable—Affiliated Companies $ 420 $ 418 Working Capital Advances to Services (D) $ 33 $ 33 Long-Term Accrued Taxes Payable $ 6 $ 6 (A) PSE&G has entered into a requirements contract with PSEG Power under which PSEG Power provides the gas supply services needed to meet PSE&G’s BGSS and other contractual requirements. PSEG Power has also entered into contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process and sells ZECs to PSE&G under the ZEC program. The rates in the BGS and BGSS contracts and for the ZEC sales are prescribed by the BPU. BGS and BGSS sales are billed and settled on a monthly basis. ZEC sales are billed on a monthly basis and settled annually following completion of each energy year. In addition, PSEG Power and PSE&G provide certain technical services for each other generally at cost in compliance with FERC and BPU affiliate rules. (B) Services provides and bills administrative services to PSE&G at cost. In addition, PSE&G has other payables to Services, including amounts related to certain common costs, which Services pays on behalf of PSE&G. (C) 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 NOLs 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.
Public Service Electric and Gas Company [Member]
Related Party Transaction [Line Items]
Related-Party Transactions	Related-Party Transactions The following discussion relates to intercompany transactions, which are eliminated during the PSEG consolidation process in accordance with GAAP. PSE&G The financial statements for PSE&G include transactions with related parties presented as follows: Three Months Ended March 31, Related-Party Transactions 2022 2021 Millions Billings from Affiliates: Net Billings from PSEG Power (A) $ 580 $ 495 Administrative Billings from Services (B) 99 87 Total Billings from Affiliates $ 679 $ 582 As of As of Related-Party Transactions March 31, 2022 December 31, 2021 Millions Payable to PSEG Power (A) $ 195 $ 244 Payable to Services (B) 87 111 Payable to PSEG (C) 138 63 Accounts Payable—Affiliated Companies $ 420 $ 418 Working Capital Advances to Services (D) $ 33 $ 33 Long-Term Accrued Taxes Payable $ 6 $ 6 (A) PSE&G has entered into a requirements contract with PSEG Power under which PSEG Power provides the gas supply services needed to meet PSE&G’s BGSS and other contractual requirements. PSEG Power has also entered into contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process and sells ZECs to PSE&G under the ZEC program. The rates in the BGS and BGSS contracts and for the ZEC sales are prescribed by the BPU. BGS and BGSS sales are billed and settled on a monthly basis. ZEC sales are billed on a monthly basis and settled annually following completion of each energy year. In addition, PSEG Power and PSE&G provide certain technical services for each other generally at cost in compliance with FERC and BPU affiliate rules. (B) Services provides and bills administrative services to PSE&G at cost. In addition, PSE&G has other payables to Services, including amounts related to certain common costs, which Services pays on behalf of PSE&G. (C) 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 NOLs 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.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Basis of Presentation	Basis of Presentation The respective financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) applicable to Quarterly Reports on Form 10-Q. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting guidance generally accepted in the United States (GAAP) have been condensed or omitted pursuant to such rules and regulations. These Condensed Consolidated Financial Statements and Notes to Condensed Consolidated Financial Statements (Notes) should be read in conjunction with, and update and supplement matters discussed in, the Annual Report on Form 10-K for the year ended December 31, 2021. The unaudited condensed consolidated financial information furnished herein reflects all adjustments which are, in the opinion of management, necessary to fairly state the results for the interim periods presented. All such adjustments are of a normal recurring nature. All significant intercompany accounts and transactions are eliminated in consolidation. The year-end Condensed Consolidated Balance Sheets were derived from the audited Consolidated Financial Statements included in the Annual Report on Form 10-K for the year ended December 31, 2021.
Cash, Cash Equivalents and Restricted Cash, Policy [Policy Text Block]	Cash, Cash Equivalents and Restricted Cash The following provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts for the beginning (December 31, 2021) and ending periods shown in the Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2022. Restricted cash consists primarily of deposits received related to various construction projects at PSE&G. PSE&G Other (A) Consolidated Millions As of December 31, 2021 Cash and Cash Equivalents $ 294 $ 524 $ 818 Restricted Cash in Other Current Assets 28 — 28 Restricted Cash in Other Noncurrent Assets 17 — 17 Cash, Cash Equivalents and Restricted Cash $ 339 $ 524 $ 863 As of March 31, 2022 Cash and Cash Equivalents $ 910 $ 693 $ 1,603 Restricted Cash in Other Current Assets 22 — 22 Restricted Cash in Other Noncurrent Assets 17 — 17 Cash, Cash Equivalents and Restricted Cash $ 949 $ 693 $ 1,642 (A) Includes amounts applicable to PSEG (parent company), PSEG Power, Energy Holdings and Services.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment In February 2022, the NRC issued an order related to its review of the subsequent license renewal (SLR) application for the Peach Bottom nuclear units. While the NRC had previously granted the SLR to the Peach Bottom units, the NRC was responding to pending motions that had not previously been adjudicated. In its decision, the NRC concluded that the previous environmental review required by the National Environmental Policy Act (NEPA) was incomplete because it did not adequately address environmental impacts resulting from extending the units’ licenses by 20 years. As a result, at the direction of the NRC, the NRC staff changed the expiration dates for the licenses back to 2033 and 2034, until the completion of the NEPA analysis. The NRC directed, however, that the subsequently renewed licenses themselves remain in effect. The NRC also stated that it fully expects that the staff will complete its update of the NEPA analysis before 2033. As such, at this time, PSEG has not adjusted the useful lives or the assumed shutdown probabilities assigned to the Asset Retirement Obligations (ARO) of the units as PSEG believes that the licenses will be updated to reflect the approved 2053 and 2054 expiration dates within the current license period. PSEG will continue to monitor this matter for further developments and any change to the estimated useful lives and ARO probabilities could have an adverse financial statement impact, which may be material.

Revenues Revenues (Policies)

Revenues Revenues (Policies)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue [Policy Text Block]	PSE&G Revenues from Contracts with Customers Electric and Gas Distribution and Transmission Revenues —PSE&G sells gas and electricity to customers under default commodity supply tariffs. PSE&G’s regulated electric and gas default commodity supply and distribution services are separate tariffs which are satisfied as the product(s) and/or service(s) are delivered to the customer. The electric and gas commodity and delivery tariffs are recurring contracts in effect until modified through the regulatory approval process as appropriate. Revenue is recognized over time as the service is rendered to the customer. Included in PSE&G’s regulated revenues are unbilled electric and gas revenues which represent the estimated amount customers will be billed for services rendered from the most recent meter reading to the end of the respective accounting period. PSE&G’s transmission revenues are earned under a separate tariff using a FERC-approved annual formula rate mechanism. The performance obligation of transmission service is satisfied and revenue is recognized as it is provided to the customer. The formula rate mechanism provides for an annual filing of an estimated revenue requirement with rates effective January 1 of each year and a true-up to that estimate based on actual revenue requirements. The true-up mechanism is an alternative revenue which is outside the scope of revenue from contracts with customers. Other Revenues from Contracts with Customers Other revenues from contracts with customers, which are not a material source of PSE&G revenues, are generated primarily from appliance repair services and solar generation projects. The performance obligations under these contracts are satisfied and revenue is recognized as control of products is delivered or services are rendered. Payment for services rendered and products transferred are typically due on average within 30 days of delivery. Revenues Unrelated to Contracts with Customers Other PSE&G revenues unrelated to contracts with customers are derived from alternative revenue mechanisms recorded pursuant to regulatory accounting guidance. These revenues, which include the Conservation Incentive Program (CIP), green energy program true-ups and transmission formula rate true-ups, are not a material source of PSE&G revenues. Other Revenues from Contracts with Customers Electricity and Related Products —Wholesale load contracts have been executed in the different Independent System Operator (ISO) regions for the bundled supply of energy, capacity, renewable energy credits and ancillary services representing PSEG Power’s performance obligations. Revenue for these contracts is recognized over time as the bundled service is provided to the customer. Transaction terms generally run from several months to three years. PSEG Power also sells to the ISOs energy and ancillary services which are separately transacted in the day-ahead or real-time energy markets. The energy and ancillary services performance obligations are typically satisfied over time as delivered and revenue is recognized accordingly. PSEG generally reports electricity sales and purchases conducted with those individual ISOs net on an hourly basis in either Operating Revenues or Energy Costs in its Condensed Consolidated Statements of Operations. The classification depends on the net hourly activity. PSEG Power enters into capacity sales and capacity purchases through the ISOs. The transactions are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position through the individual ISOs. The performance obligations with the ISOs are satisfied over time upon delivery of the capacity and revenue is recognized accordingly. In addition to capacity sold through the ISOs, PSEG Power sells capacity through bilateral contracts and the related revenue is reported on a gross basis and recognized over time upon delivery of the capacity. PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants have been awarded Zero Emission Certificates (ZECs) by the BPU through May 2025. These nuclear plants are expected to receive ZEC revenue from the electric distribution companies (EDCs) in New Jersey. PSEG Power recognizes revenue when the units generate electricity, which is when the performance obligation is satisfied. These revenues are included in PJM Sales in the following tables. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. Gas Contracts —PSEG Power sells wholesale natural gas, primarily through an index based full-requirements Basic Gas Supply Service (BGSS) contract with PSE&G to meet the gas supply requirements of PSE&G’s customers. The BGSS contract remains in effect unless terminated by either party with a two-year notice. The performance obligation is primarily delivery of gas which is satisfied over time. Revenue is recognized as gas is delivered. Based upon the availability of natural gas, storage and pipeline capacity beyond PSE&G’s daily needs, PSEG Power also sells gas and pipeline capacity to other counterparties under bilateral contracts. The performance obligation under these contracts is satisfied over time upon delivery of the gas or capacity, and revenue is recognized accordingly. PSEG LI Contract —PSEG LI has a contract with LIPA which generates revenues. PSEG LI’s subsidiary, Long Island Electric Utility Servco, LLC (Servco) records costs which are recovered from LIPA and records the recovery of those costs as revenues when Servco is a principal in the transaction. Other Revenues from Contracts with Customers Prior to the sale of Solar Source in June 2021, PSEG Power entered into bilateral contracts to sell solar power and solar renewable energy certificates (SRECs) from its solar facilities. Contract terms ranged from 15 to 30 years. The performance obligations were generally solar power and SRECs which were transferred to customers upon generation. Revenue was recognized upon generation of the solar power. PSEG Power has entered into long-term contracts with LIPA for energy management and fuel procurement services. Revenue is recognized over time as services are rendered. Revenues Unrelated to Contracts with Customers PSEG Power’s revenues unrelated to contracts with customers include electric, gas and certain energy-related transactions accounted for in accordance with Derivatives and Hedging accounting guidance. See Note 13. Financial Risk Management Activities for further discussion. Prior to the sale of Solar Source, PSEG Power was also a party to solar contracts that qualified as leases and were accounted for in accordance with lease accounting guidance. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments. Energy Holdings generates lease revenues which are recorded pursuant to lease accounting guidance.

Organization and Basis of Pre_3

Organization and Basis of Presentation Organization and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash, Cash Equivalents and Restricted Cash [Table Text Block]	Cash, Cash Equivalents and Restricted Cash The following provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts for the beginning (December 31, 2021) and ending periods shown in the Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2022. Restricted cash consists primarily of deposits received related to various construction projects at PSE&G. PSE&G Other (A) Consolidated Millions As of December 31, 2021 Cash and Cash Equivalents $ 294 $ 524 $ 818 Restricted Cash in Other Current Assets 28 — 28 Restricted Cash in Other Noncurrent Assets 17 — 17 Cash, Cash Equivalents and Restricted Cash $ 339 $ 524 $ 863 As of March 31, 2022 Cash and Cash Equivalents $ 910 $ 693 $ 1,603 Restricted Cash in Other Current Assets 22 — 22 Restricted Cash in Other Noncurrent Assets 17 — 17 Cash, Cash Equivalents and Restricted Cash $ 949 $ 693 $ 1,642 (A) Includes amounts applicable to PSEG (parent company), PSEG Power, Energy Holdings and Services.

Revenues Revenues (Tables)

Revenues Revenues (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	gregation of Revenues PSE&G Other (A) Eliminations Consolidated Millions Three Months Ended March 31, 2022 Revenues from Contracts with Customers Electric Distribution $ 720 $ — $ — $ 720 Gas Distribution 1,047 — (1) 1,046 Transmission 392 — — 392 Electricity and Related Product Sales PJM Third-Party Sales — 582 — 582 Sales to Affiliates — 56 (56) — New York ISO — 88 — 88 ISO New England — 86 — 86 Gas Sales Third-Party Sales — 136 — 136 Sales to Affiliates — 526 (526) — Other Revenues from Contracts with Customers (B) 85 146 (1) 230 Total Revenues from Contracts with Customers 2,244 1,620 (584) 3,280 Revenues Unrelated to Contracts with Customers (C) 40 (1,007) — (967) Total Operating Revenues $ 2,284 $ 613 $ (584) $ 2,313 PSE&G Other (A) Eliminations Consolidated Millions Three Months Ended March 31, 2021 Revenues from Contracts with Customers Electric Distribution $ 707 $ — $ — $ 707 Gas Distribution 896 — (3) 893 Transmission 399 — — 399 Electricity and Related Product Sales PJM Third-Party Sales — 471 — 471 Sales to Affiliates — 88 (88) — New York ISO — 48 — 48 ISO New England — 51 — 51 Gas Sales Third-Party Sales — 60 — 60 Sales to Affiliates — 410 (410) — Other Revenues from Contracts with Customers (B) 75 151 (1) 225 Total Revenues from Contracts with Customers 2,077 1,279 (502) 2,854 Revenues Unrelated to Contracts with Customers (C) (4) 39 — 35 Total Operating Revenues $ 2,073 $ 1,318 $ (502) $ 2,889 (A) Other consists of revenues at PSEG Power, Energy Holdings and PSEG LI. (B) Includes primarily revenues from appliance repair services and the sale of SRECs at auction at PSE&G, PSEG Power’s energy management fee with LIPA and PSEG LI’s OSA with LIPA in Other. Other also includes PSEG Power’s solar power projects in 2021. (C) Includes primarily alternative revenues at PSE&G, derivative contracts and lease contracts in 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, 2022 and 2021: 2022 2021 Millions Balance at Beginning of Year $ 337 $ 206 Utility Customer and Other Accounts Provision 33 44 Write-offs, net of Recoveries of $8 million and $2 million in 2022 and 2021, respectively (19) (11) Balance at End of Period $ 351 $ 239 Other
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 2022/2023 auction was held in June 2021 and the 2023/2024 auction will be held in June 2022. 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 MW-Day MW Cleared June 2021 to May 2022 $142 3,700 June 2022 to May 2023 $97 3,300

Leases Leases (Tables)

Leases Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Operating Lease, Lease Income	The following is the operating lease income for the three months ended March 31, 2022 and 2021: Operating Lease Income Millions Three Months Ended March 31, 2022 Fixed Lease Income $ 8 Variable Lease Income — Total Operating Lease Income $ 8 Three Months Ended March 31, 2021 Fixed Lease Income $ 5 Variable Lease Income 5 Total Operating Lease Income $ 10

Financing Receivables (Tables)

Financing Receivables (Tables)	3 Months Ended
	Mar. 31, 2022
Public Service Electric and Gas Company [Member]
Schedule of Financial Receivables [Line Items]
Schedule Of Credit Risk Profile Based On Payment Activity	As of Outstanding Loans by Class of Customers March 31, December 31, Millions Commercial/Industrial $ 113 $ 116 Residential 5 5 Total 118 121 Current Portion (included in Accounts Receivable) (30) (29) Noncurrent Portion (included in Long-Term Investments) $ 88 $ 92 The solar loans originated under three Solar Loan Programs are comprised as follows: Programs Balance as of March 31, 2022 Funding Provided Residential Loan Term Non-Residential Loan Term Millions Solar Loan I $ 14 prior to 2013 10 years 15 years Solar Loan II 55 prior to 2015 10 years 15 years Solar Loan III 49 largely funded as of March 31, 2022 10 years 10 years Total $ 118 The average life of loans paid in full is eight years, which is lower than the loan terms of 10 to 15 years due to the generation of SRECs being greater than expected and/or cash payments made to the loan. Payments on all outstanding loans were current as of March 31, 2022 and have an average remaining life of approximately four years. There are no remaining residential loans outstanding under the Solar Loan 1 program.
Energy Holdings [Member]
Schedule of Financial Receivables [Line Items]
Schedule Of Gross And Net Lease Investment	The following table shows Energy Holdings’ gross and net lease investment as of March 31, 2022 and December 31, 2021. As of March 31, December 31, Millions Lease Receivables (net of Non-Recourse Debt) $ 249 $ 274 Unearned and Deferred Income (84) (87) Gross Investments in Leases 165 187 Deferred Tax Liabilities (40) (42) Net Investments in Leases $ 125 $ 145
Schedule Of Lease Receivables, Net Of Nonrecourse Debt, Associated With Leveraged Lease Portfolio Based On Counterparty Credit Rating	The corresponding receivables associated with the lease portfolio are reflected as follows, net of non-recourse debt. The ratings in the table represent the ratings of the entities providing payment assurance to Energy Holdings. Lease Receivables, Net of Counterparties' Standard & Poor's (S&P) Credit Rating as of March 31, 2022 As of March 31, 2022 Millions AA $ 8 A- 47 BBB+ to BBB 194 Total $ 249

Trust Investments (Tables)

Trust Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Schedule of Trust Investments [Line Items]
Fair Values And Gross Unrealized Gains And Losses For The Securities Held In The NDT Fund	The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund. As of March 31, 2022 Cost Gross Gross Fair Millions Equity Securities Domestic $ 496 $ 326 $ (3) $ 819 International 333 98 (18) 413 Total Equity Securities 829 424 (21) 1,232 Available-for-Sale Debt Securities Government 676 2 (38) 640 Corporate 649 3 (35) 617 Total Available-for-Sale Debt Securities 1,325 5 (73) 1,257 Total NDT Fund Investments (A) $ 2,154 $ 429 $ (94) $ 2,489 (A) The NDT Fund Investments table excludes foreign currency of $2 million as of March 31, 2022, which is part of the NDT Fund. As of December 31, 2021 Cost Gross Gross Fair Millions Equity Securities Domestic $ 491 $ 363 $ (3) $ 851 International 346 119 (15) 450 Total Equity Securities 837 482 (18) 1,301 Available-for-Sale Debt Securities Government 683 12 (8) 687 Corporate 637 16 (6) 647 Total Available-for-Sale Debt Securities 1,320 28 (14) 1,334 Total NDT Fund Investments (A) $ 2,157 $ 510 $ (32) $ 2,635
Schedule Of Accounts Receivable And Accounts Payable in the NDT Funds	The amounts in the preceding tables do not include receivables and payables for NDT Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table. As of As of March 31, December 31, Millions Accounts Receivable $ 18 $ 11 Accounts Payable $ 10 $ 11
Value Of Securities That Have Been In An Unrealized Loss Position For Less Than And Greater Than 12 Months	The following table shows the value of securities in the NDT Fund that have been in an unrealized loss position for less than and greater than 12 months. As of March 31, 2022 As of December 31, 2021 Less Than 12 Greater Than 12 Less Than 12 Greater Than 12 Fair Gross Fair Gross Fair Gross Fair Gross Millions Equity Securities (A) Domestic $ 62 $ (3) $ — $ — $ 69 $ (3) $ — $ — International 91 (15) 9 (3) 76 (13) 9 (2) Total Equity Securities 153 (18) 9 (3) 145 (16) 9 (2) Available-for-Sale Debt Securities Government (B) 448 (26) 118 (12) 332 (5) 67 (3) Corporate (C) 420 (26) 74 (9) 306 (4) 30 (2) Total Available-for-Sale Debt Securities 868 (52) 192 (21) 638 (9) 97 (5) NDT Trust Investments $ 1,021 $ (70) $ 201 $ (24) $ 783 $ (25) $ 106 $ (7) (A) Equity Securities—Investments in marketable equity securities within the NDT Fund are primarily in common stocks within a broad range of industries and sectors. Unrealized gains and losses on these securities are recorded in Net Income. (B) Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG Power also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG Power did not recognize credit losses for municipal bonds because they are primarily investment grade securities. (C) Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for these corporate bonds because they are primarily investment grade securities.
Proceeds From The Sales Of And The Net Realized Gains On Securities In The NDT Funds And Rabbi Trusts	The proceeds from the sales of and the net gains (losses) on securities in the NDT Fund were: Three Months Ended March 31, 2022 2021 Millions Proceeds from NDT Fund Sales (A) $ 473 $ 597 Net Realized Gains (Losses) on NDT Fund Gross Realized Gains $ 29 $ 79 Gross Realized Losses (34) (15) Net Realized Gains (Losses) on NDT Fund (B) (5) 64 Net Unrealized Gains (Losses) on Equity Securities (61) (7) Net Gains (Losses) on NDT Fund Investments $ (66) $ 57 (A) Includes activity in accounts related to the liquidation of funds being transitioned within the trust. (B) The cost of these securities was determined on the basis of specific identification.
Amount Of Available-For-Sale Debt Securities By Maturity Periods	The NDT Fund debt securities held as of March 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ 20 1 - 5 years 324 6 - 10 years 226 11 - 15 years 70 16 - 20 years 109 Over 20 years 508 Total NDT Available-for-Sale Debt Securities $ 1,257
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Value Of Securities That Have Been In An Unrealized Loss Position For Less Than And Greater Than 12 Months	The following table shows the value of securities in the Rabbi Trust Fund that have been in an unrealized loss position for less than 12 months and greater than 12 months. As of March 31, 2022 As of December 31, 2021 Less Than 12 Greater Than 12 Less Than 12 Greater Than 12 Fair Gross Fair Gross Fair Gross Fair Gross Millions Available-for-Sale Debt Securities Government (A) $ 86 $ (6) $ 15 $ (2) $ 57 $ — $ 16 $ (1) Corporate (B) 64 (5) 6 (1) 40 (1) 5 — Total Available-for-Sale Debt Securities 150 (11) 21 (3) 97 (1) 21 (1) Rabbi Trust Investments $ 150 $ (11) $ 21 $ (3) $ 97 $ (1) $ 21 $ (1) (A) Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG’s Rabbi Trust investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG did not recognize credit losses for municipal bonds because they are primarily investment grade securities.
Securities Held In The Rabbi Trusts	The following tables show the fair values, gross unrealized gains and losses and amortized cost basis for the securities held in the Rabbi Trust. As of March 31, 2022 Cost Gross Gross Fair Millions Domestic Equity Securities $ 15 $ 10 $ — $ 25 Available-for-Sale Debt Securities Government 111 — (8) 103 Corporate 96 1 (6) 91 Total Available-for-Sale Debt Securities 207 1 (14) 194 Total Rabbi Trust Investments $ 222 $ 11 $ (14) $ 219 As of December 31, 2021 Cost Gross Gross Fair Millions Domestic Equity Securities $ 14 $ 12 $ — $ 26 Available-for-Sale Debt Securities Government 107 1 (1) 107 Corporate 105 5 (1) 109 Total Available-for-Sale Debt Securities 212 6 (2) 216 Total Rabbi Trust Investments $ 226 $ 18 $ (2) $ 242
Schedule of Accounts Receivable and Accounts Payable in the Rabbi Trust Funds [Table Text Block]	The amounts in the preceding tables do not include receivables and payables for Rabbi Trust Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Condensed Consolidated Balance Sheets as shown in the following table. As of As of March 31, December 31, Millions Accounts Receivable $ 2 $ 1 Accounts Payable $ — $ —
Proceeds From The Sales Of And The Net Realized Gains On Securities In The NDT Funds And Rabbi Trusts	The proceeds from the sales of and the net gains on securities in the Rabbi Trust Fund were: Three Months Ended March 31, 2022 2021 Millions Proceeds from Rabbi Trust Sales $ 28 $ 65 Net Realized Gains (Losses) on Rabbi Trust: Gross Realized Gains $ 1 $ 5 Gross Realized Losses (2) (2) Net Realized Gains (Losses) on Rabbi Trust (A) (1) 3 Net Unrealized Gains (Losses) on Equity Securities (1) — Net Gains (Losses) on Rabbi Trust Investments $ (2) $ 3 (A) The cost of these securities was determined on the basis of specific identification.
Amount Of Available-For-Sale Debt Securities By Maturity Periods	The Rabbi Trust debt securities held as of March 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ — 1 - 5 years 35 6 - 10 years 26 11 - 15 years 8 16 - 20 years 21 Over 20 years 104 Total Rabbi Trust Available-for-Sale Debt Securities $ 194
Fair Value Of The Rabbi Trusts	The fair value of the Rabbi Trust related to PSEG and PSE&G is detailed as follows: As of As of March 31, December 31, Millions PSE&G $ 39 $ 43 Other 180 199 Total Rabbi Trust Investments $ 219 $ 242

Pension and OPEB (Tables)

Pension and OPEB (Tables)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Components Of Net Periodic Benefit Cost	The following table provides the components of net periodic benefit credits relating to all qualified and nonqualified pension and OPEB plans on an aggregate basis for PSEG, excluding Servco. Amounts shown do not reflect the impacts of capitalization and co-owner allocations. Only the service cost component is eligible for capitalization, when applicable. Pension Benefits OPEB Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Millions Components of Net Periodic Benefit (Credits) Costs Service Cost (included in O&M Expense) $ 35 $ 38 $ 2 $ 2 Non-Service Components of Pension and OPEB (Credits) Costs Interest Cost 42 35 6 5 Expected Return on Plan Assets (121) (119) (11) (10) Amortization of Net Prior Service Credit — — (32) (32) Actuarial Loss 15 26 4 11 Non-Service Components of Pension and OPEB (Credits) Costs (64) (58) (33) (26) Total Benefit (Credits) Costs $ (29) $ (20) $ (31) $ (24)
Schedule Of Pension And OPEB Costs	Pension and OPEB credits for PSEG and PSE&G are detailed as follows: Pension Benefits OPEB Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Millions PSE&G $ (18) $ (16) $ (27) $ (23) Other (11) (4) (4) (1) Total Benefit (Credits) Costs $ (29) $ (20) $ (31) $ (24)

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
PSEG Power [Member]
Loss Contingencies [Line Items]
Face Value Of Outstanding Guarantees, Current Exposure And Margin Positions	The following table shows the face value of PSEG Power’s outstanding guarantees, current exposure and margin positions as of March 31, 2022 and December 31, 2021. As of As of March 31, 2022 December 31, 2021 Millions Face Value of Outstanding Guarantees $ 1,914 $ 1,959 Exposure under Current Guarantees $ 188 $ 176 Letters of Credit Margin Posted $ 83 $ 80 Letters of Credit Margin Received $ 21 $ 242 Cash Deposited and Received Counterparty Cash Collateral Deposited $ 32 $ 60 Counterparty Cash Collateral Received $ (1) $ (1) Net Broker Balance Deposited (Received) $ 1,496 $ 785 Additional Amounts Posted Other Letters of Credit $ 82 $ 67
Total Minimum Purchase Commitments	As of March 31, 2022, the total minimum purchase requirements included in these commitments were as follows: Fuel Type PSEG Power’s Share of Commitments through 2026 Millions Nuclear Fuel Uranium $ 318 Enrichment $ 314 Fabrication $ 183 Natural Gas $ 1,248
Public Service Electric and Gas Company [Member]
Loss Contingencies [Line Items]
Contract For Anticipated BGS-Fixed Price Eligible Load	Auction Year 2019 2020 2021 2022 36-Month Terms Ending May 2022 May 2023 May 2024 May 2025 (A) Load (MW) 2,800 2,800 2,900 2,800 $ per MWh $98.04 $102.16 $64.80 $76.30 (A) Prices set in the 2022 BGS auction will become effective on June 1, 2022 when the 2019 BGS auction agreements expire.

Debt and Credit Facilities Debt

Debt and Credit Facilities Debt and Credit Facilities (Tables)	3 Months Ended
	Mar. 31, 2022
Debt and Credit Facilities [Abstract]
Schedule of Line of Credit Facilities [Table Text Block]	Each of the credit facilities is restricted as to availability and use to the specific companies as listed in the following table; however, if necessary, the PSEG facilities can also be used to support its subsidiaries’ liquidity needs. The total credit facilities and available liquidity as of March 31, 2022 were as follows: As of March 31, 2022 Company/Facility Total Usage (B) Available Expiration Primary Purpose Millions PSEG Revolving Credit Facility (A) $ 1,500 $ 428 $ 1,072 Mar 2027 Commercial Paper Support/Funding/Letters of Credit Total PSEG $ 1,500 $ 428 $ 1,072 PSE&G Revolving Credit Facility $ 1,000 $ 18 $ 982 Mar 2027 Commercial Paper Support/Funding/Letters of Credit Total PSE&G $ 1,000 $ 18 $ 982 PSEG Power Revolving Credit Facility (A) $ 1,250 $ 79 $ 1,171 Mar 2027 Funding/Letters of Credit Letter of Credit Facility 100 83 17 Sept 2023 Letters of Credit Total PSEG Power $ 1,350 $ 162 $ 1,188 Total $ 3,850 $ 608 $ 3,242 (A) Master Credit Facility with sub-limits of $1.5 billion for PSEG and $1.25 billion for PSEG Power. (B) The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs, under which as of March 31, 2022, PSEG had $426 million outstanding at a weighted average interest rate of 0.44%. PSE&G had no Commercial Paper outstanding as of March 31, 2022.

Financial Risk Management Act_2

Financial Risk Management Activities (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule Of Derivative Instruments Fair Value In Balance Sheets	As of March 31, 2022 Not Designated Balance Sheet Location Energy- Netting Total Millions Derivative Contracts Current Assets $ 2,228 $ (2,084) $ 144 Noncurrent Assets 816 (767) 49 Total Mark-to-Market Derivative Assets $ 3,044 $ (2,851) $ 193 Derivative Contracts Current Liabilities $ (3,051) $ 2,892 $ (159) Noncurrent Liabilities (1,303) 1,280 (23) Total Mark-to-Market Derivative (Liabilities) $ (4,354) $ 4,172 $ (182) Total Net Mark-to-Market Derivative Assets (Liabilities) $ (1,310) $ 1,321 $ 11 As of December 31, 2021 Not Designated Balance Sheet Location Energy- Netting Total Millions Derivative Contracts Current Assets $ 816 $ (744) $ 72 Noncurrent Assets 546 (518) 28 Total Mark-to-Market Derivative Assets $ 1,362 $ (1,262) $ 100 Derivative Contracts Current Liabilities $ (1,055) $ 1,038 $ (17) Noncurrent Liabilities (856) 839 (17) Total Mark-to-Market Derivative (Liabilities) $ (1,911) $ 1,877 $ (34) Total Net Mark-to-Market Derivative Assets (Liabilities) $ (549) $ 615 $ 66 (A) 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 March 31, 2022 and December 31, 2021, PSEG Power had net cash collateral (receipts) payments to counterparties of $1,527 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,321 million and $615 million as of March 31, 2022 and December 31, 2021, respectively, were netted against the corresponding net derivative contract positions. Of the $1,321 million as of March 31, 2022, $(22) million was netted against current assets, $(15) million was netted against noncurrent assets, $830 million was netted against current liabilities and $528 million was netted against noncurrent liabilities. Of the $615 million as of December 31, 2021, $(30) million was netted against current assets, $(13) million was netted against noncurrent assets, $323 million was netted against current liabilities and $335 million was netted against noncurrent liabilities.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following shows the effect on the Condensed Consolidated Statements of Operations and on Accumulated Other Comprehensive Loss (AOCL) of derivative instruments designated as cash flow hedges for the three months ended March 31, 2022 and 2021: Derivatives in Cash Flow Amount of Pre-Tax Location of Amount of Pre-Tax Three Months Ended Three Months Ended March 31, March 31, 2022 2021 2022 2021 Millions Millions PSEG Interest Rate Swaps $ — $ — Interest Expense $ (1) $ (1) Total PSEG $ — $ — $ (1) $ (1)
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	The following reconciles the Accumulated Other Comprehensive Income (Loss) for derivative activity included in the AOCL of PSEG on a pre-tax and after-tax basis. Accumulated Other Comprehensive Income (Loss) Pre-Tax After-Tax Millions Balance as of December 31, 2020 $ (13) $ (9) Loss Recognized in AOCL — — Less: Loss Reclassified into Income 4 3 Balance as of December 31, 2021 $ (9) $ (6) Loss Recognized in AOCL — — Less: Loss Reclassified into Income 1 1 Balance as of March 31, 2022 $ (8) $ (5)
Schedule Of Derivative Instruments Not Designated As Hedging Instruments And Impact On Results Of Operations	The following shows the effect on the Condensed Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as NPNS for the three months ended March 31, 2022 and 2021, respectively. PSEG Power’s derivative contracts reflected in this table include contracts to hedge the purchase and sale of electricity and natural gas, and the purchase of fuel. The table does not include contracts that PSEG Power has designated as NPNS, such as its BGS contracts and certain other energy supply contracts that it has with other utilities and companies with retail load. Derivatives Not Designated as Hedges Location of Pre-Tax Pre-Tax Gain (Loss) Three Months Ended March 31, 2022 2021 Millions Energy-Related Contracts Operating Revenues $ (1,044) $ (46) Energy-Related Contracts Energy Costs — 6 Total $ (1,044) $ (40)
Schedule Of Gross Volume, On Absolute Value Basis For Derivative Contracts	The following table summarizes the net notional volume purchases/(sales) of open derivative transactions by commodity as of March 31, 2022 and December 31, 2021. As of As of Type Notional March 31, 2022 December 31, 2021 Millions Natural Gas Dekatherm (Dth) 53 47 Electricity MWh (75) (76) Financial Transmission Rights (FTRs) MWh 18 27
PSEG Power [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Schedule Providing Credit Risk From Others, Net Of Collateral	The following table provides information on PSEG Power’s credit risk from wholesale counterparties, net of collateral, as of March 31, 2022. It further delineates that exposure by the credit rating of the counterparties, which is determined by the lowest rating from S&P, Moody’s or an internal scoring model. In addition, it provides guidance on the concentration of credit risk to individual counterparties and an indication of the quality of PSEG Power’s credit risk by credit rating of the counterparties. As of March 31, 2022, 96% of the net credit exposure for PSEG Power’s wholesale operations was with investment grade counterparties. Credit exposure is defined as any positive results of netting accounts receivable/accounts payable and the forward value of open positions (which includes all financial instruments including derivatives, NPNS and non-derivatives). Rating Current Securities Held as Collateral Net Number of Net Exposure of Millions Millions Investment Grade $ 270 $ 9 $ 261 1 $ 148 Non-Investment Grade 14 2 12 — — Total $ 284 $ 11 $ 273 1 $ 148 (A) Represents net exposure of $148 million with PSE&G. As of March 31, 2022, collateral held from counterparties where PSEG Power had credit exposure included $11 million in letters of credit. As of March 31, 2022, PSEG Power had 102 active counterparties.	[1]
[1]	Represents net exposure of $148 million with PSE&G.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
PSEG's, Power's And PSE&G's Respective Assets And (Liabilities) Measured At Fair Value On A Recurring Basis	The following tables present information about PSEG’s and PSE&G’s respective assets and (liabilities) measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Amounts shown for PSEG include the amounts shown for PSE&G. Recurring Fair Value Measurements as of March 31, 2022 Description Total Netting (D) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Millions PSEG Assets: Cash Equivalents (A) $ 1,535 $ — $ 1,535 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 193 $ (2,851) $ 25 $ 3,018 $ 1 NDT Fund (C) Equity Securities $ 1,232 $ — $ 1,232 $ — $ — Debt Securities—U.S. Treasury $ 289 $ — $ — $ 289 $ — Debt Securities—Govt Other $ 351 $ — $ — $ 351 $ — Debt Securities—Corporate $ 617 $ — $ — $ 617 $ — Rabbi Trust (C) Equity Securities $ 25 $ — $ 25 $ — $ — Debt Securities—U.S. Treasury $ 71 $ — $ — $ 71 $ — Debt Securities—Govt Other $ 32 $ — $ — $ 32 $ — Debt Securities—Corporate $ 91 $ — $ — $ 91 $ — Liabilities: Derivative Contracts: Energy-Related Contracts (B) $ (182) $ 4,172 $ (58) $ (4,288) $ (8) PSE&G Assets: Cash Equivalents (A) $ 875 $ — $ 875 $ — $ — Rabbi Trust (C) Equity Securities $ 4 $ — $ 4 $ — $ — Debt Securities—U.S. Treasury $ 13 $ — $ — $ 13 $ — Debt Securities—Govt Other $ 6 $ — $ — $ 6 $ — Debt Securities—Corporate $ 16 $ — $ — $ 16 $ — Recurring Fair Value Measurements as of December 31, 2021 Description Total Netting (D) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Millions PSEG Assets: Cash Equivalents (A) $ 615 $ — $ 615 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 100 $ (1,262) $ 25 $ 1,336 $ 1 NDT Fund (C) Equity Securities $ 1,301 $ — $ 1,301 $ — $ — Debt Securities—U.S. Treasury $ 314 $ — $ — $ 314 $ — Debt Securities—Govt Other $ 373 $ — $ — $ 373 $ — Debt Securities—Corporate $ 647 $ — $ — $ 647 $ — Rabbi Trust (C) Equity Securities $ 26 $ — $ 26 $ — $ — Debt Securities—U.S. Treasury $ 73 $ — $ — $ 73 $ — Debt Securities—Govt Other $ 34 $ — $ — $ 34 $ — Debt Securities—Corporate $ 109 $ — $ — $ 109 $ — Liabilities: Derivative Contracts: Energy-Related Contracts (B) $ (34) $ 1,877 $ (26) $ (1,880) $ (5) PSE&G Assets: Cash Equivalents (A) $ 250 $ — $ 250 $ — $ — Rabbi Trust (C) Equity Securities $ 5 $ — $ 5 $ — $ — Debt Securities—U.S. Treasury $ 13 $ — $ — $ 13 $ — Debt Securities—Govt Other $ 6 $ — $ — $ 6 $ — Debt Securities—Corporate $ 19 $ — $ — $ 19 $ — (A) Represents money market mutual funds. (B) 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. (C) The fair value measurement table excludes foreign currency of $2 million in the NDT Fund as of March 31, 2022 and December 31, 2021. The NDT Fund maintains investments in various equity and fixed income securities. The Rabbi Trust maintains investments in a Russell 3000 index fund and various fixed income securities. These securities are generally valued with prices that are either exchange provided (equity securities) or market transactions for comparable securities and/or broker quotes (fixed income securities). Level 1—Investments in marketable equity securities within the NDT Fund are primarily investments in common stocks across a broad range of industries and sectors. Most equity securities are priced utilizing the principal market close price or, in some cases, midpoint, bid or ask price. Certain other equity securities in the NDT and Rabbi Trust Funds consist primarily of investments in money market funds which seek a high level of current income as is consistent with the preservation of capital and the maintenance of liquidity. To pursue its goals, the funds normally invest in diversified portfolios of high quality, short-term, dollar-denominated debt securities and government securities. The funds’ net asset value is priced and published daily. The Rabbi Trust’s Russell 3000 index fund is valued based on quoted prices in an active market and can be redeemed daily without restriction. Level 2—NDT and Rabbi Trust fixed income securities include investment grade corporate bonds, collateralized mortgage obligations, asset-backed securities and certain government and U.S. Treasury obligations or Federal Agency asset-backed securities and municipal bonds with a wide range of maturities. Since many fixed income securities do not trade on a daily basis, they are priced using an evaluated pricing methodology that varies by asset class and reflects observable market information such as the most recent exchange price or quoted bid for similar securities. Market-based standard inputs typically include benchmark yields, reported trades, broker/dealer quotes and issuer spreads. Certain short-term investments are valued using observable market prices or market parameters such as time-to-maturity, coupon rate, quality rating and current yield. (D) 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.
Schedule of Fair Value of Debt	The estimated fair values, carrying amounts and methods used to determine fair value of long-term debt as of March 31, 2022 and December 31, 2021 are included in the following table and accompanying notes. As of As of March 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Millions Long-Term Debt: PSEG (A) $ 4,126 $ 3,964 $ 4,124 $ 4,172 PSE&G (A) 12,292 12,432 11,795 13,374 PSEG Power (B) 1,250 1,250 — — Total Long-Term Debt $ 17,668 $ 17,646 $ 15,919 $ 17,546 (A) Given that these bonds do not trade actively, the fair value amounts of taxable debt securities (primarily Level 2 measurements) are generally determined by a valuation model using market-based measurements that are processed through a rules-based pricing methodology. The fair value amounts above do not represent the price at which the outstanding debt may be called for redemption by each issuer under their respective debt agreements. (B) Private term loan with book value approximating fair value (Level 2 measurement).

Other Income (Deductions) (Tabl

Other Income (Deductions) (Tables)	3 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Schedule Of Other Income (Deductions)	PSE&G Other (A) Consolidated Millions Three Months Ended March 31, 2022 NDT Fund Interest and Dividends $ — $ 14 $ 14 Allowance for Funds Used During Construction 15 — 15 Solar Loan Interest 3 — 3 Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (27) (27) Other 1 (1) — Total Other Income (Deductions) $ 19 $ (14) $ 5 Three Months Ended March 31, 2021 NDT Fund Interest and Dividends $ — $ 13 $ 13 Allowance for Funds Used During Construction 23 — 23 Solar Loan Interest 3 — 3 Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (16) (16) Other 2 — 2 Total Other Income (Deductions) $ 28 $ (3) $ 25 (A) Other consists of activity at PSEG (as parent company), PSEG Power, Energy Holdings, Services, PSEG LI and intercompany eliminations.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule Of Effective Tax Rates	A reconciliation of reported income tax expense for PSEG with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows: Three Months Ended PSEG March 31, 2022 2021 Millions Pre-Tax Income (Loss) $ (154) $ 765 Tax Computed at Statutory Rate 21% $ (32) $ 161 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) (29) 41 NDT Fund (6) 8 Audit Settlement — (7) Green Program Recovery Charges (GPRC)-CEF-Energy Efficiency (EE) (6) (1) Tax Adjustment Credit (TAC) (73) (78) Other (6) (7) Subtotal (120) (44) Total Income Tax Expense (Benefit) $ (152) $ 117 Effective Income Tax Rate 98.7 % 15.3 % A reconciliation of reported income tax expense for PSE&G with the amount computed by multiplying pre-tax income by the statutory federal income tax rate of 21% is as follows: Three Months Ended PSE&G March 31, 2022 2021 Millions Pre-Tax Income $ 598 $ 556 Tax Computed at Statutory Rate 21% $ 126 $ 117 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) 41 38 GPRC-CEF-EE (6) (1) TAC (73) (78) Other 1 3 Subtotal (37) (38) Total Income Tax Expense (Benefit) $ 89 $ 79 Effective Income Tax Rate 14.9 % 14.2 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss), Net of Tax (Tables)	3 Months Ended
	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income by Component	PSEG Three Months Ended March 31, 2022 Accumulated Other Comprehensive Income (Loss) Cash Flow Hedges Pension and OPEB Plans Available-for-Sale Securities Total Millions Balance as of December 31, 2021 $ (6) $ (355) $ 11 $ (350) Other Comprehensive Income (Loss) before Reclassifications — — (65) (65) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 1 — 4 5 Net Current Period Other Comprehensive Income (Loss) 1 — (61) (60) Balance as of March 31, 2022 $ (5) $ (355) $ (50) $ (410) Three Months Ended March 31, 2021 Accumulated Other Comprehensive Income (Loss) Cash Flow Hedges Pension and OPEB Plans Available-for-Sale Securities Total Millions Balance as of December 31, 2020 $ (9) $ (545) $ 50 $ (504) Other Comprehensive Income (Loss) before Reclassifications — — (40) (40) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 1 3 (2) 2 Net Current Period Other Comprehensive Income (Loss) 1 3 (42) (38) Balance as of March 31, 2021 $ (8) $ (542) $ 8 $ (542)
Reclassifications out of Accumulated Other Comprehensive Income	PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Three Months Ended March 31, 2022 Description of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Location of Pre-Tax Amount In Statement of Operations Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Millions Cash Flow Hedges Interest Rate Swaps Interest Expense $ (1) $ — $ (1) Total Cash Flow Hedges (1) — (1) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 5 (1) 4 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (5) 1 (4) Total Pension and OPEB Plans — — — Available-for-Sale Debt Securities Realized Gains (Losses) Net Gains (Losses) on Trust Investments (6) 2 (4) Total Available-for-Sale Debt Securities (6) 2 (4) Total $ (7) $ 2 $ (5) PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Three Months Ended March 31, 2021 Description of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Location of Pre-Tax Amount In Statement of Operations Pre-Tax Amount Tax (Expense) Benefit After-Tax Amount Millions Cash Flow Hedges Interest Rate Swaps Interest Expense $ (1) $ — $ (1) Total Cash Flow Hedges (1) — (1) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 5 (1) 4 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (10) 3 (7) Total Pension and OPEB Plans (5) 2 (3) Available-for-Sale Debt Securities Realized Gains (Losses) Net Gains (Losses) on Trust Investments 3 (1) 2 Total Available-for-Sale Debt Securities 3 (1) 2 Total $ (3) $ 1 $ (2)

Earnings Per Share (EPS) and _2

Earnings Per Share (EPS) and Dividends (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Basic And Diluted Earnings Per Share Computation	The following table shows the effect of these dilutive potential shares on the weighted average number of shares outstanding used in calculating diluted EPS: Three Months Ended March 31, 2022 2021 Basic Diluted Basic Diluted EPS Numerator (Millions): Net Income (Loss) $ (2) $ (2) $ 648 $ 648 EPS Denominator (Millions): Weighted Average Common Shares Outstanding 501 501 504 504 Effect of Stock Based Compensation Awards — — — 3 Total Shares 501 501 504 507 EPS Net Income (Loss) $ 0.00 $ 0.00 $ 1.29 $ 1.28
Dividend Payments On Common Stock	Dividends Three Months Ended March 31, Dividend Payments on Common Stock 2022 2021 Per Share $ 0.54 $ 0.51 In Millions $ 271 $ 258

Financial Information By Busi_2

Financial Information By Business Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Financial Information By Business Segments	PSE&G PSEG Power Other (A) Eliminations (B) Consolidated Total Millions Three Months Ended March 31, 2022 Operating Revenues $ 2,284 $ 460 $ 153 $ (584) $ 2,313 Net Income (Loss) 509 (519) 8 — (2) Gross Additions to Long-Lived Assets 628 56 2 — 686 Three Months Ended March 31, 2021 Operating Revenues $ 2,073 $ 1,167 $ 151 $ (502) $ 2,889 Net Income (Loss) 477 161 10 — 648 Gross Additions to Long-Lived Assets 586 46 1 — 633 As of March 31, 2022 Total Assets $ 38,399 $ 7,536 $ 3,135 $ (1,296) $ 47,774 Investments in Equity Method Subsidiaries $ — $ 65 $ 124 $ — $ 189 As of December 31, 2021 Total Assets $ 37,198 $ 9,777 $ 5,150 $ (3,126) $ 48,999 Investments in Equity Method Subsidiaries $ — $ 62 $ 111 $ — $ 173 (A) Includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent company) and Services.

Related-Party Transactions (Tab

Related-Party Transactions (Tables) - Public Service Electric and Gas Company [Member]	3 Months Ended
	Mar. 31, 2022
Related Party Transaction [Line Items]
Schedule Of Related Party Transactions, Revenue	PSE&G The financial statements for PSE&G include transactions with related parties presented as follows: Three Months Ended March 31, Related-Party Transactions 2022 2021 Millions Billings from Affiliates: Net Billings from PSEG Power (A) $ 580 $ 495 Administrative Billings from Services (B) 99 87 Total Billings from Affiliates $ 679 $ 582
Schedule Of Related Party Transactions, Payables	As of As of Related-Party Transactions March 31, 2022 December 31, 2021 Millions Payable to PSEG Power (A) $ 195 $ 244 Payable to Services (B) 87 111 Payable to PSEG (C) 138 63 Accounts Payable—Affiliated Companies $ 420 $ 418 Working Capital Advances to Services (D) $ 33 $ 33 Long-Term Accrued Taxes Payable $ 6 $ 6

Organization and Basis of Pre_4

Organization and Basis of Presentation Organization and Basis of Presentation (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents		$ 1,603	$ 818
Cash, Cash Equivalents and Restricted Cash		1,642	863	$ 841	$ 572
Public Service Electric and Gas Company [Member]
Cash and Cash Equivalents		910	294
Restricted Cash in Other Current Assets		22	28
Restricted Cash in Other Noncurrent Assets		17	17
Cash, Cash Equivalents and Restricted Cash		949	339	$ 669	$ 233
Other Entities [Member]
Cash and Cash Equivalents	[1]	693	524
Restricted Cash in Other Current Assets	[1]	0	0
Restricted Cash in Other Noncurrent Assets	[1]	0	0
Cash, Cash Equivalents and Restricted Cash	[1]	693	524
Other Current Assets [Member]
Restricted Cash in Other Current Assets		22	28
Other Noncurrent Assets [Member]
Restricted Cash in Other Noncurrent Assets		$ 17	$ 17
[1]	Includes amounts applicable to PSEG (parent company), PSEG Power, Energy Holdings and Services.

Revenues Revenues (Details)

Revenues Revenues (Details) $ in Millions		3 Months Ended
		Mar. 31, 2022USD ($)$ / mwdMW	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Revenues [Line Items]
Revenue from Contract with Customers		$ 3,280	$ 2,854
Revenues Unrelated to Contracts with Customers	[1]	(967)	35
Total Operating Revenues		2,313	2,889
Regulatory Assets		3,671		$ 3,605
Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		(584)	(502)
Revenues Unrelated to Contracts with Customers	[1]	0	0
Total Operating Revenues	[2]	(584)	(502)
Electric Distribution Contracts [Member]
Revenues [Line Items]
Revenue from Contract with Customers		720	707
Electric Distribution Contracts [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Gas Distribution [Member]
Revenues [Line Items]
Revenue from Contract with Customers		1,046	893
Gas Distribution [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		(1)	(3)
Electric Transmission [Member]
Revenues [Line Items]
Revenue from Contract with Customers		392	399
Electric Transmission [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Electricity and Related Products [Member] | PJM [Member] | Third Party Sales [Member]
Revenues [Line Items]
Revenue from Contract with Customers		582	471
Electricity and Related Products [Member] | PJM [Member] | Third Party Sales [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Electricity and Related Products [Member] | PJM [Member] | Sales to Affiliates [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Electricity and Related Products [Member] | PJM [Member] | Sales to Affiliates [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		(56)	(88)
Electricity and Related Products [Member] | NY ISO [Member]
Revenues [Line Items]
Revenue from Contract with Customers		88	48
Electricity and Related Products [Member] | NY ISO [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Electricity and Related Products [Member] | ISO New England [Member]
Revenues [Line Items]
Revenue from Contract with Customers		86	51
Electricity and Related Products [Member] | ISO New England [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Gas Sales [Member] | Third Party Sales [Member]
Revenues [Line Items]
Revenue from Contract with Customers		136	60
Gas Sales [Member] | Third Party Sales [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Gas Sales [Member] | Sales to Affiliates [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Gas Sales [Member] | Sales to Affiliates [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers		(526)	(410)
Other Revenues from Contracts with Customers [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[3]	230	225
Other Revenues from Contracts with Customers [Member] | Eliminations [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[3]	(1)	(1)
Public Service Electric and Gas Company [Member]
Revenues [Line Items]
Revenue from Contract with Customers		2,244	2,077
Revenues Unrelated to Contracts with Customers	[1]	40	(4)
Total Operating Revenues		$ 2,284	2,073
Allowances percentage of accounts receivable		20.00%		21.00%
Public Service Electric and Gas Company [Member] | Electric Distribution Contracts [Member]
Revenues [Line Items]
Revenue from Contract with Customers		$ 720	707
Public Service Electric and Gas Company [Member] | Gas Distribution [Member]
Revenues [Line Items]
Revenue from Contract with Customers		1,047	896
Public Service Electric and Gas Company [Member] | Electric Transmission [Member]
Revenues [Line Items]
Revenue from Contract with Customers		392	399
Public Service Electric and Gas Company [Member] | Electricity and Related Products [Member] | PJM [Member] | Third Party Sales [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Public Service Electric and Gas Company [Member] | Electricity and Related Products [Member] | PJM [Member] | Sales to Affiliates [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Public Service Electric and Gas Company [Member] | Electricity and Related Products [Member] | NY ISO [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Public Service Electric and Gas Company [Member] | Electricity and Related Products [Member] | ISO New England [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Public Service Electric and Gas Company [Member] | Gas Sales [Member] | Third Party Sales [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Public Service Electric and Gas Company [Member] | Gas Sales [Member] | Sales to Affiliates [Member]
Revenues [Line Items]
Revenue from Contract with Customers		0	0
Public Service Electric and Gas Company [Member] | Other Revenues from Contracts with Customers [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[3]	85	75
PSEG Power [Member]
Revenues [Line Items]
Anticipated Contract Revenues		$ 56
PSEG Power [Member] | PJM [Member] | June 2021 to May 2022 [Member]
Revenues [Line Items]
Dollars Per Megawatt-Day | $ / mwd		142
Load (MW) | MW		3,700
PSEG Power [Member] | PJM [Member] | June 2022 to May 2023 [Member]
Revenues [Line Items]
Dollars Per Megawatt-Day | $ / mwd		97
Load (MW) | MW		3,300
Other [Member] | LIPA OSA contract fixed component [Member]
Revenues [Line Items]
Anticipated Contract Revenues		$ 40
Other Segments
Revenues [Line Items]
Revenue from Contract with Customers	[4]	1,620	1,279
Revenues Unrelated to Contracts with Customers	[4]	(1,007)	39
Total Operating Revenues	[4]	613	1,318
Other Segments | Electric Distribution Contracts [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[4]	0	0
Other Segments | Gas Distribution [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[4]	0	0
Other Segments | Electric Transmission [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[4]	0	0
Other Segments | Electricity and Related Products [Member] | PJM [Member] | Third Party Sales [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[4]	582	471
Other Segments | Electricity and Related Products [Member] | PJM [Member] | Sales to Affiliates [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[4]	56	88
Other Segments | Electricity and Related Products [Member] | NY ISO [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[4]	88	48
Other Segments | Electricity and Related Products [Member] | ISO New England [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[4]	86	51
Other Segments | Gas Sales [Member] | Third Party Sales [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[4]	136	60
Other Segments | Gas Sales [Member] | Sales to Affiliates [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[4]	526	410
Other Segments | Other Revenues from Contracts with Customers [Member]
Revenues [Line Items]
Revenue from Contract with Customers	[3],[4]	146	151
Public Service Electric and Gas Company [Member]
Revenues [Line Items]
Total Operating Revenues		2,284	2,073
Accounts Receivable and Unbilled Revenues, Allowance for Credit Losses		337	206
Provision for Other Credit Losses		33	44
Accounts Receivable, Allowance for Credit Loss, Writeoff		(19)	(11)
Accounts Receivable, Allowance for Credit Loss, Recovery		8	2
Accounts Receivable and Unbilled Revenues, Allowance for Credit Losses		351	239
Accounts Receivable and Unbilled Revenues, Allowance for Credit Losses		351	$ 239	$ 337
Regulatory Assets		3,671		$ 3,605
Public Service Electric and Gas Company [Member] | COVID-19 Deferral - Bad Debt portion
Revenues [Line Items]
Regulatory Assets		66
Public Service Electric and Gas Company [Member] | Societal Benefits Charges Sbc | Electric Bad Debt Deferral
Revenues [Line Items]
Regulatory Assets		$ 145
[1]	Includes primarily alternative revenues at PSE&G, derivative contracts and lease contracts in Other.
[2]	Intercompany eliminations primarily relate to intercompany transactions between PSE&G and PSEG Power. For a further discussion of the intercompany transactions between PSE&G and PSEG Power, see Note 20. Related-Party Transactions.
[3]	Includes primarily revenues from appliance repair services and the sale of SRECs at auction at PSE&G, PSEG Power’s energy management fee with LIPA and PSEG LI’s OSA with LIPA in Other. Other also includes PSEG Power’s solar power projects in 2021.
[4]	Other consists of revenues at PSEG Power, Energy Holdings and PSEG LI.

Early Plant Retirements_Asset_2

Early Plant Retirements/Asset Dispositions Early Plant Retirements/Asset Dispositions (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Early Plant Retirements [Abstract]
ZEC Charge per kwh	$ 0.004
Proceeds from Divestiture of Businesses	1,920,000,000
Impairment of Long-Lived Assets to be Disposed of	43,000,000	$ 2,691,000,000
ZEC Charge per MWh	$ 10

Variable Interest Entities (V_2

Variable Interest Entities (VIEs) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Variable Interest Entity [Line Items]
Operating Revenues	$ 2,313	$ 2,889
Operation and Maintenance	794	778
Long Island ServCo [Member]
Variable Interest Entity [Line Items]
Operating Revenues	123	123
Operation and Maintenance	123	$ 123
Ocean Wind JV Holdco
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	124		$ 111
Ocean Wind JV Holdco | Anticipated Spend
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	$ 250

Rate Filings (Details)

Rate Filings (Details) $ in Millions	1 Months Ended
	Apr. 30, 2022USD ($)	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets		$ 3,671	$ 3,605
Regulatory Assets		368	364
Public Service Electric and Gas Company [Member]
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets		3,671	3,605
Regulatory Assets		368	364
Public Service Electric and Gas Company [Member] | Electric meters to be retired
Regulatory Assets And Liabilities [Line Items]
Public Utilities, Property, Plant and Equipment, Transmission and Distribution		188	$ 192
Public Service Electric and Gas Company [Member] | COVID-19 Deferral - Bad Debt portion
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets		66
Public Service Electric and Gas Company [Member] | Gas System Modernization Program II [Member]
Regulatory Assets And Liabilities [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount		25
COVID-19 deferrals [Member] | Public Service Electric and Gas Company [Member]
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets		120
Remediation Adjustment Clause | Public Service Electric and Gas Company [Member]
Regulatory Assets And Liabilities [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount		$ 44
Subsequent Event [Member] | Public Service Electric and Gas Company [Member] | ZEC Liability
Regulatory Assets And Liabilities [Line Items]
Public Utilities, Approved Rate Increase (Decrease), Amount	$ (4)
Subsequent Event [Member] | Public Service Electric and Gas Company [Member] | Basic Gas Supply Service
Regulatory Assets And Liabilities [Line Items]
Approved BGSS rate per therm	0.41
Subsequent Event [Member] | Public Service Electric and Gas Company [Member] | Energy Strong II Electric
Regulatory Assets And Liabilities [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount	$ 17
Subsequent Event [Member] | Public Service Electric and Gas Company [Member] | Energy Strong II Gas
Regulatory Assets And Liabilities [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount	$ 1

Leases Operating Lease Income (

Leases Operating Lease Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Lease Income
Fixed Lease Income	$ 8	$ 5
Variable Lease Income	0	5
Total Operating Lease Income	8	$ 10
Energy Holdings | Subsidiaries
Operating Lease Income
Lessor, Operating Lease, Payments to be Received	$ 123

Financing Receivables (Outstand

Financing Receivables (Outstanding Loans by Class of Customer) (Detail) - Public Service Electric and Gas Company [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Average Loan Repayment Period	8 years
Outstanding Loans by Class of Customer	$ 118	$ 121
Current Portion of Outstanding Loans	30	29
Noncurrent Portion of Outstanding Loans	$ 88	92
Average Loan Remaining Repayment Period	4 years
Commercial/Industrial [Member]
Concentration Risk [Line Items]
Outstanding Loans by Class of Customer	$ 113	116
Residential [Member]
Concentration Risk [Line Items]
Outstanding Loans by Class of Customer	5	$ 5
Solar Loan I [Member]
Concentration Risk [Line Items]
Outstanding Loans by Class of Customer	$ 14
Solar Loan I [Member] | Commercial/Industrial [Member]
Concentration Risk [Line Items]
Loan Receivable, Term	15 years
Solar Loan I [Member] | Residential [Member]
Concentration Risk [Line Items]
Loan Receivable, Term	10 years
Solar Loan II [Member]
Concentration Risk [Line Items]
Outstanding Loans by Class of Customer	$ 55
Solar Loan II [Member] | Commercial/Industrial [Member]
Concentration Risk [Line Items]
Loan Receivable, Term	15 years
Solar Loan II [Member] | Residential [Member]
Concentration Risk [Line Items]
Loan Receivable, Term	10 years
Solar Loan III [Member]
Concentration Risk [Line Items]
Outstanding Loans by Class of Customer	$ 49
Solar Loan III [Member] | Commercial/Industrial [Member]
Concentration Risk [Line Items]
Loan Receivable, Term	10 years
Solar Loan III [Member] | Residential [Member]
Concentration Risk [Line Items]
Loan Receivable, Term	10 years
Minimum [Member]
Concentration Risk [Line Items]
Loan Receivable, Term	10 years
Maximum [Member]
Concentration Risk [Line Items]
Loan Receivable, Term	15 years

Financing Receivables (Gross An

Financing Receivables (Gross And Net Lease Investment) (Detail) - Energy Holdings [Member] - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Schedule of Financial Receivables [Line Items]
Lease Receivables (net of Non-Recourse Debt)	$ 249	$ 274
Unearned and Deferred Income	(84)	(87)
Gross Investments in Leases	165	187
Deferred Tax Liabilities	(40)	(42)
Net Investments in Leases	$ 125	$ 145

Financing Receivables (Schedule

Financing Receivables (Schedule Of Lease Receivables, Net Of Nonrecourse Debt, Associated With Leveraged Lease Portfolio Based On Counterparty Credit Rating) (Detail) - Energy Holdings [Member] - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Schedule of Financial Receivables [Line Items]
Lease Receivables (net of Non-Recourse Debt)	$ 249	$ 274
Standard & Poor's, AA Rating [Member]
Schedule of Financial Receivables [Line Items]
Lease Receivables (net of Non-Recourse Debt)	8
Standard & Poor's, A- Rating [Member]
Schedule of Financial Receivables [Line Items]
Lease Receivables (net of Non-Recourse Debt)	47
Standard & Poor's, BBB plus - BBB - Rating [Member]
Schedule of Financial Receivables [Line Items]
Lease Receivables (net of Non-Recourse Debt)	$ 194

Financing Receivables (Narrativ

Financing Receivables (Narrative) (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Energy Holdings [Member]
Schedule of Financial Receivables [Line Items]
Leveraged Leases, Net Investment in Leveraged Leases Disclosure, Investment in Leveraged Leases, Net	$ 125	$ 145

Trust Investments (Fair Values

Trust Investments (Fair Values And Gross Unrealized Gains And Losses For The Securities Held) (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022		Dec. 31, 2021
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Trust Investments, Cost	$ 2,154		$ 2,157
Gross Unrealized Gains	429		510
Gross Unrealized Losses	(94)		(32)
Trust Investments, Fair Value	2,489	[1]	2,635	[2]
NDT Fund Foreign Currency	2		2
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Trust Investments, Cost	222		226
Gross Unrealized Gains	11		18
Gross Unrealized Losses	(14)		(2)
Trust Investments, Fair Value	219		242
Total Debt Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1,325		1,320
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	5		28
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(73)		(14)
Debt Securities, Available-for-Sale, Fair Value	1,257		1,334
Total Debt Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	207		212
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1		6
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(14)		(2)
Debt Securities, Available-for-Sale, Fair Value	194		216
Equity Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Equity Securities, Cost	829		837
Equity Securities, Accumulated Gross Unrealized Gain	424		482
Equity Securities, FV-NI, Unrealized Loss	(21)		(18)
Equity Securities, Fair Value	1,232		1,301
Unrealized Gains (Losses) on Equity Securities still held	(47)
Equity Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Unrealized Gains (Losses) on Equity Securities still held	(1)
Corporate Debt Obligations [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	649		637
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	3		16
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(35)		(6)
Debt Securities, Available-for-Sale, Fair Value	617		647
Corporate Debt Obligations [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	96		105
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1		5
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(6)		(1)
Debt Securities, Available-for-Sale, Fair Value	91		109
Government Debt Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	676		683
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	2		12
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(38)		(8)
Debt Securities, Available-for-Sale, Fair Value	640		687
Government Debt Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	111		107
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	0		1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	(8)		(1)
Debt Securities, Available-for-Sale, Fair Value	103		107
International Equity Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Equity Securities, Cost	333		346
Equity Securities, Accumulated Gross Unrealized Gain	98		119
Equity Securities, FV-NI, Unrealized Loss	(18)		(15)
Equity Securities, Fair Value	413		450
Domestic Equity Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Equity Securities, Cost	496		491
Equity Securities, Accumulated Gross Unrealized Gain	326		363
Equity Securities, FV-NI, Unrealized Loss	(3)		(3)
Equity Securities, Fair Value	819		851
Domestic Equity Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Equity Securities, Cost	15		14
Equity Securities, Accumulated Gross Unrealized Gain	10		12
Equity Securities, FV-NI, Unrealized Loss	0		0
Equity Securities, Fair Value	25		$ 26
Debt Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
After tax amount of net unrealized gains recognized in AOCI	(40)
Debt Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
After tax amount of net unrealized gains recognized in AOCI	$ (10)
[1]	The NDT Fund Investments table excludes foreign currency of $2 million as of March 31, 2022, which is part of the NDT Fund.
[2]	The NDT Fund Investments table excludes foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund.

Trust Investments (Schedule Of

Trust Investments (Schedule Of Accounts Receivable And Accounts Payable) (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Accounts Receivable	$ 18	$ 11
Accounts Payable	10	11
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Accounts Receivable	2	1
Accounts Payable	$ 0	$ 0

Trust Investments (Value Of Sec

Trust Investments (Value Of Securities That Have Been In An Unrealized Loss Position For Less Than And Greater Than 12 Months) (Detail) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		$ 1,021	$ 783
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		(70)	(25)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer		201	106
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,		(24)	(7)
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		150	97
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		(11)	(1)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer		21	21
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,		(3)	(1)
Equity Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[1]	153	145
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[1]	(18)	(16)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	[1]	9	9
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,	[1]	(3)	(2)
Total Debt Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		868	638
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		(52)	(9)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer		192	97
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,		(21)	(5)
Total Debt Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		150	97
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		(11)	(1)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer		21	21
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,		(3)	(1)
Domestic Equity Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[1]	62	69
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[1]	(3)	(3)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	[1]	0	0
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,	[1]	0	0
International Equity Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[1]	91	76
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[1]	(15)	(13)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	[1]	9	9
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,	[1]	(3)	(2)
Government Debt Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[2]	448	332
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[2]	(26)	(5)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	[2]	118	67
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,	[2]	(12)	(3)
Government Debt Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		86	57
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		(6)	0
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer		15	16
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,		(2)	(1)
Corporate Debt Obligations [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[3]	420	306
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	[3]	(26)	(4)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	[3]	74	30
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,	[3]	(9)	(2)
Corporate Debt Obligations [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		64	40
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months		(5)	(1)
Fair Value of Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer		6	5
Gross Unrealized Losses on Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer,		$ (1)	$ 0
[1]	Equity Securities—Investments in marketable equity securities within the NDT Fund are primarily in common stocks within a broad range of industries and sectors. Unrealized gains and losses on these securities are recorded in Net Income.
[2]	Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG Power also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG Power did not recognize credit losses for municipal bonds because they are primarily investment grade securities.
[3]	Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for these corporate bonds because they are primarily investment grade securities.

Trust Investments (Proceeds Fro

Trust Investments (Proceeds From The Sales Of And The Net Realized Gains On Securities in the NDT and Rabbi Trusts) (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Schedule of Trust Investments [Line Items]
Proceeds from Sale of Trust Investments		$ 501	$ 662
Net Gains (Losses) on Trust Investments		(68)	60
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Proceeds from Sale of Trust Investments	[1]	473	597
Gross Realized Gains		29	79
Gross Realized Losses		(34)	(15)
Net Realized Gains (Losses)	[2]	(5)	64
Unrealized Gain (Loss) on Equity Securities		(61)	(7)
Net Gains (Losses) on Trust Investments		(66)	57
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Proceeds from Sale of Trust Investments		28	65
Gross Realized Gains		1	5
Gross Realized Losses		(2)	(2)
Net Realized Gains (Losses)		(1)	3
Unrealized Gain (Loss) on Equity Securities		(1)	0
Net Gains (Losses) on Trust Investments		$ (2)	$ 3
[1]	Includes activity in accounts related to the liquidation of funds being transitioned within the trust.
[2]	The cost of these securities was determined on the basis of specific identification.

Trust Investments (Amount Of Av

Trust Investments (Amount Of Available-For-Sale Debt Securities By Maturity Periods) (Detail) $ in Millions	Mar. 31, 2022USD ($)
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Total Available-for-Sale Debt Securities	$ 1,257
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Total Available-for-Sale Debt Securities	194
Debt Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Less than one year	20
1 - 5 years	324
6 - 10 years	226
11 - 15 years	70
16 - 20 years	109
Over 20 years	508
Debt Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Less than one year	0
1 - 5 years	35
6 - 10 years	26
11 - 15 years	8
16 - 20 years	21
Over 20 years	$ 104

Trust Investments (Fair Value O

Trust Investments (Fair Value Of Rabbi Trust) (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Schedule of Trust Investments [Line Items]
Total Rabbi Trust Investments	$ 219	$ 242
Public Service Electric and Gas Company [Member]
Schedule of Trust Investments [Line Items]
Total Rabbi Trust Investments	39	43
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Total Rabbi Trust Investments	219	242
Rabbi Trust [Member] | Public Service Electric and Gas Company [Member]
Schedule of Trust Investments [Line Items]
Total Rabbi Trust Investments	39	43
Rabbi Trust [Member] | Other Entities [Member]
Schedule of Trust Investments [Line Items]
Total Rabbi Trust Investments	$ 180	$ 199

Trust Investments (Narrative) (

Trust Investments (Narrative) (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)Facility	Dec. 31, 2021USD ($)
Schedule of Trust Investments [Line Items]
Number of Nuclear Facilities | Facility	5
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
NDT Fund Foreign Currency	$ 2	$ 2
Debt Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
After tax amount of net unrealized gains recognized in AOCI	(40)
Debt Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
After tax amount of net unrealized gains recognized in AOCI	(10)
Equity Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Unrealized Gains (Losses) on Equity Securities still held	(47)
Equity Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Unrealized Gains (Losses) on Equity Securities still held	$ (1)

Pension And OPEB (Components Of

Pension And OPEB (Components Of Net Periodic Benefit Cost) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost	$ 35	$ 38
Interest Cost	42	35
Expected Return on Plan Assets	(121)	(119)
Amortization of Prior Service Cost	0	0
Amortization of Actuarial Loss	15	26
Non-Operating Pension and OPEB (Credits) Costs	(64)	(58)
Total Benefit (Credits) Costs	(29)	(20)
OPEB [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost	2	2
Interest Cost	6	5
Expected Return on Plan Assets	(11)	(10)
Amortization of Prior Service Cost	(32)	(32)
Amortization of Actuarial Loss	4	11
Non-Operating Pension and OPEB (Credits) Costs	(33)	(26)
Total Benefit (Credits) Costs	$ (31)	$ (24)

Pension And OPEB (Schedule Of P

Pension And OPEB (Schedule Of Pension And OPEB Costs) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefits (Credits) Costs	$ (29)	$ (20)
Pension Benefits [Member] | Public Service Electric and Gas Company [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefits (Credits) Costs	(18)	(16)
Pension Benefits [Member] | Other Entities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefits (Credits) Costs	(11)	(4)
OPEB [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefits (Credits) Costs	(31)	(24)
OPEB [Member] | Public Service Electric and Gas Company [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefits (Credits) Costs	(27)	(23)
OPEB [Member] | Other Entities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefits (Credits) Costs	$ (4)	$ (1)

Pension And OPEB (Narrative) (D

Pension And OPEB (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	$ 30
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefit Costs	(29)	$ (20)
Postretirement Healthcare Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefit Costs	(31)	(24)
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefit Costs	8	9
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Postretirement Healthcare Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Total Benefit Costs	$ 2	$ 3

Commitments And Contingent Li_3

Commitments And Contingent Liabilities (Guaranteed Obligations) (Detail) - PSEG Power [Member] - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Face Value of Outstanding Guarantees	$ 1,914	$ 1,959
Exposure under Current Guarantees	188	176
Letters of Credit Margin Posted	83	80
Letters of Credit Margin Received	21	242
Counterparty Cash Collateral Deposited	32	60
Counterparty Cash Collateral Received	(1)	(1)
Net Broker Balance Deposited (Received)	1,496	785
Other Letters of Credit	$ 82	$ 67

Commitments And Contingent Li_4

Commitments And Contingent Liabilities (Environmental Matters) (Detail) $ in Millions	Mar. 31, 2022USD ($)Plantmi
Site Contingency [Line Items]
Number of miles related to the Passaic River constituting a facility as determined by the US Environmental Protection Agency | mi	17
Number of additional legal entities contacted by EPA in conjunction with Newark Bay study area contamination	11
Passaic River Site Contingency [Member]
Site Contingency [Line Items]
Estimated Cleanup Costs EPA Preferred Method	$ 2,300
Accrual for Environmental Loss Contingencies	$ 66
Number Of Additional Potentially Responsible Parties Directed By New Jersey Department Of Environmental Protection To Arrange Damage Assessment For Lower Passaic River	56
Passaic River Site Contingency [Member] | Public Service Electric and Gas Company [Member]
Site Contingency [Line Items]
Number of former generating electric station | Plant	1
Accrual for Environmental Loss Contingencies	$ 53
Passaic River Site Contingency [Member] | PSEG Power [Member]
Site Contingency [Line Items]
Accrual for Environmental Loss Contingencies	$ 13
Pse G S Former Mgp Sites [Member]
Site Contingency [Line Items]
Aggregate Number Of Mgp Sites Identified For Cleanup By New Jersey Department Of Environmental Protection	38
Mgp Remediation Site Contingency [Member] | Public Service Electric and Gas Company [Member]
Site Contingency [Line Items]
Remediation Liability Recorded As Other Current Liabilities	$ 40
Remediation Liability Recorded As Other Noncurrent Liabilities	181
Regulatory Assets	221
Passaic River Site Upper 9 Miles
Site Contingency [Line Items]
Estimated Cleanup Costs EPA Preferred Method	550
Minimum [Member] | Mgp Remediation Site Contingency [Member] | Public Service Electric and Gas Company [Member]
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	221
Accrual for Environmental Loss Contingencies	221
Maximum [Member] | Mgp Remediation Site Contingency [Member] | Public Service Electric and Gas Company [Member]
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 249

Commitments And Contingent Li_5

Commitments And Contingent Liabilities (Basic Generation Service (BGS) And Basic Gas Supply Service (BGSS)) (Detail) cf in Billions	3 Months Ended
	Mar. 31, 2022USD ($)cf$ / mwd$ / MWhMW
Long-term Purchase Commitment [Line Items]
Number of cubic feet in gas hedging permitted to be recovered by BPU | cf	115
Percentage of residential gas supply permitted to be recovered in gas hedging by BPU	80.00%
Number Of Cubic Feet To Be Hedged | cf	70
Percentage of annual residential gas supply requirements to be hedged	50.00%
ZEC Charge per kwh | $	$ 0.004
Public Service Electric and Gas Company [Member]
Long-term Purchase Commitment [Line Items]
ZEC Charge per kwh | $	$ 0.004
Public Service Electric and Gas Company [Member] | Auction Year 2019 [Member]
Long-term Purchase Commitment [Line Items]
Load (MW) | MW	2,800
Dollars Per Megawatt Hour | $ / MWh	98.04
Public Service Electric and Gas Company [Member] | Auction Year 2020 [Member]
Long-term Purchase Commitment [Line Items]
Dollars Per Megawatt-Day | $ / mwd	351.06
Load (MW) | MW	2,800
Dollars Per Megawatt Hour | $ / MWh	102.16
Public Service Electric and Gas Company [Member] | Auction Year 2021
Long-term Purchase Commitment [Line Items]
Dollars Per Megawatt-Day | $ / mwd	276.26
Load (MW) | MW	2,900
Dollars Per Megawatt Hour | $ / MWh	64.80
Public Service Electric and Gas Company [Member] | Auction Year 2022
Long-term Purchase Commitment [Line Items]
Load (MW) | MW	2,800
Dollars Per Megawatt Hour | $ / MWh	76.30	[1]
[1]	Prices set in the 2022 BGS auction will become effective on June 1, 2022 when the 2019 BGS auction agreements expire.

Commitments And Contingent Li_6

Commitments And Contingent Liabilities (Minimum Fuel Purchase Requirements) (Detail) - PSEG Power [Member] $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Long-term Purchase Commitment [Line Items]
Coverage percentage of nuclear fuel commitments of uranium, enrichment, and fabrication requirements for current year	100.00%
Nuclear Fuel Uranium [Member]
Long-term Purchase Commitment [Line Items]
Total five-year minimum purchase requirements	$ 318
Nuclear Fuel Enrichment [Member]
Long-term Purchase Commitment [Line Items]
Total five-year minimum purchase requirements	314
Nuclear Fuel Fabrication [Member]
Long-term Purchase Commitment [Line Items]
Total five-year minimum purchase requirements	183
Natural Gas [Member]
Long-term Purchase Commitment [Line Items]
Total five-year minimum purchase requirements	$ 1,248

Commitments And Contingent Li_7

Commitments And Contingent Liabilities (Litigation) (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Jan. 31, 2021
LIPA complaint | Maximum [Member]
Loss Contingencies [Line Items]
Complaint amount	$ 70
PSEG Power [Member] | Sewaren 7 Litigation [Member]
Loss Contingencies [Line Items]
Original Claim Amount	$ 93
PSEG Power [Member] | Sewaren 7 Litigation [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Complaint amount		$ 68

Debt and Credit Facilities (Cha

Debt and Credit Facilities (Changes in Long-Term Debt) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Issuance of Long-term Debt	$ 1,750	$ 900
Public Service Electric and Gas Company [Member]
Debt Instrument [Line Items]
Issuance of Long-term Debt	500	$ 900
Medium Term Notes Green Bond Three Point One Zero due Two Thousand Thirty Two | Public Service Electric and Gas Company [Member]
Debt Instrument [Line Items]
Issuance of Long-term Debt	$ 500
Debt Instrument, Interest Rate, Stated Percentage	3.10%
Three Year Variable rate term loan | PSEG Power [Member]
Debt Instrument [Line Items]
Issuance of Long-term Debt	$ 1,250

Debt and Credit Facilities De_2

Debt and Credit Facilities Debt and Credit Facilities (Short-Term Liquidity) (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended
		Apr. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2021
Commercial Paper			$ 1,676				$ 3,519
Commitments of Single Institution as Percentage of Total Commitments			8.00%
Line of Credit Facility, Remaining Borrowing Capacity			$ 3,242
Line of Credit Facility, Maximum Borrowing Capacity			3,850
Line of Credit Facility, Fair Value of Amount Outstanding	[1]		608
Proceeds from Short-Term Loan			0			$ 500
Repayments of Short-term Debt			1,250			300
Collateral Already Posted, Aggregate Fair Value			1,527				844
Net Change in Commercial Paper and Loans			(593)			(598)
Public Service Electric and Gas Company [Member]
Line of Credit Facility, Remaining Borrowing Capacity			982
Line of Credit Facility, Maximum Borrowing Capacity			1,000
Line of Credit Facility, Fair Value of Amount Outstanding			18
Net Change in Commercial Paper and Loans			0			(100)
PSEG Power [Member]
Line of Credit Facility, Remaining Borrowing Capacity			1,188
Line of Credit Facility, Maximum Borrowing Capacity			1,350
Line of Credit Facility, Fair Value of Amount Outstanding			162
Collateral Already Posted, Aggregate Fair Value			1,500				343
PSEG Power [Member] | Subsequent Event [Member]
Collateral Already Posted, Aggregate Fair Value		$ 2,600
Five Year Credit Facility Maturing March 2023 [Member] | Public Service Electric and Gas Company [Member]
Line of Credit Facility, Remaining Borrowing Capacity			$ 982
Debt Instrument, Maturity Date, Description			Mar 2027
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,000				600
Line of Credit Facility, Fair Value of Amount Outstanding	[1]		18
Five Year Credit Facility Maturing March 2023 [Member] | PSEG Power [Member]
Line of Credit Facility, Remaining Borrowing Capacity			$ 1,171
Debt Instrument, Maturity Date, Description			Mar 2027
Line of Credit Facility, Maximum Borrowing Capacity	[2]		$ 1,250
Line of Credit Facility, Fair Value of Amount Outstanding			79
Five Year Credit Facility Maturing March 2023 [Member] | Parent and PSEG Power
Line of Credit Facility, Maximum Borrowing Capacity			2,750				$ 3,400
Letter of Credit Facilities expiring September 2022 | PSEG Power [Member]
Line of Credit Facility, Remaining Borrowing Capacity			$ 17
Debt Instrument, Maturity Date, Description			Sept 2023
Line of Credit Facility, Maximum Borrowing Capacity			$ 100
Line of Credit Facility, Fair Value of Amount Outstanding			83
Letter of Credit Facilities expiring April 2024 | PSEG Power [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity		100
Letter of Credit Facilities expiring April 2025 | PSEG Power [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity		100
March 2021 Term Loan
Repayments of Short-term Debt						$ 500
May 2021 Term Loan
Repayments of Short-term Debt					$ 750
August 2021 Term Loan
Proceeds from Short-Term Loan				$ 1,250
April 2022 Term Loan | Subsequent Event [Member]
Proceeds from Short-Term Loan		$ 1,500
PSEG [Member]
Line of Credit Facility, Remaining Borrowing Capacity			1,072
Line of Credit Facility, Maximum Borrowing Capacity			1,500
Line of Credit Facility, Fair Value of Amount Outstanding			428
PSEG [Member] | Five Year Credit Facility Maturing March 2023 [Member]
Line of Credit Facility, Remaining Borrowing Capacity			$ 1,072
Debt Instrument, Maturity Date, Description			Mar 2027
Line of Credit Facility, Maximum Borrowing Capacity	[2]		$ 1,500
Line of Credit Facility, Fair Value of Amount Outstanding	[1]		428
PSEG [Member] | Five Year Credit Facility Maturing March 2023 [Member]
Commercial Paper			$ 426
Short-term Debt, Weighted Average Interest Rate, at Point in Time			0.44%
[1]	The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs, under which as of March 31, 2022, PSEG had $426 million outstanding at a weighted average interest rate of 0.44%. PSE&G had no Commercial Paper outstanding as of March 31, 2022.
[2]	Master Credit Facility with sub-limits of $1.5 billion for PSEG and $1.25 billion for PSEG Power.

Financial Risk Management Act_3

Financial Risk Management Activities (Schedule Of Derivative Transactions Designated And Effective As Cash Flow Hedges) (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	$ 0	$ 0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion	(1)	(1)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(5)	(2)
Cash Flow Hedges [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(1)	(1)	$ (3)
Interest Expense [Member] | Interest Rate Swap [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	0	0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion	$ (1)	$ (1)

Financial Risk Management Act_4

Financial Risk Management Activities (Narrative) (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax		$ (5)	$ (6)
Unrealized Loss to be Reclassified to Earnings During the Next Twelve Months		(3)
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	1,321	615
Derivative, Fair Value, Net		11	66
PSEG Power [Member]
Derivatives, Fair Value [Line Items]
Securities held as Collateral		11
Fair Value of Derivatives with credit-risk related contingent features		206	75
Aggregate fair value of derivative contracts in a liability position that contains triggers for additional collateral		28	29
Additional collateral aggregate fair value		$ 178	$ 46
[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 March 31, 2022 and December 31, 2021, PSEG Power had net cash collateral (receipts) payments to counterparties of $1,527 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,321 million and $615 million as of March 31, 2022 and December 31, 2021, respectively, were netted against the corresponding net derivative contract positions. Of the $1,321 million as of March 31, 2022, $(22) million was netted against current assets, $(15) million was netted against noncurrent assets, $830 million was netted against current liabilities and $528 million was netted against noncurrent liabilities. Of the $615 million as of December 31, 2021, $(30) million was netted against current assets, $(13) million was netted against noncurrent assets, $323 million was netted against current liabilities and $335 million was netted against noncurrent liabilities.

Financial Risk Management Act_5

Financial Risk Management Activities (Schedule Of Derivative Instruments Fair Value In Balance Sheets) (Detail) - USD ($) $ in Millions		Mar. 31, 2022		Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Collateral Already Posted, Aggregate Fair Value		$ 1,527		$ 844
Derivative Contracts, Current Assets		144		72
Derivative Contracts, Noncurrent Assets		49		28
Total Mark-to-Market Derivative Assets		193		100
Derivative Contracts, Current Liabilities		(159)		(17)
Derivative Contracts, Noncurrent Liabilities		(23)		(17)
Total Mark-to-Market Derivative (Liabilities)		(182)		(34)
Net Mark-to-Market Derivative Assets (Liabilities)		11		66
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	1,321		615
PSEG Power [Member]
Derivatives, Fair Value [Line Items]
Collateral Already Posted, Aggregate Fair Value		1,500		343
Other Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net		528		335
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net		(22)		(30)
Other Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net		(15)		(13)
Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net		830		323
Energy-Related Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Contracts, Current Assets		2,228		816
Derivative Contracts, Noncurrent Assets		816		546
Total Mark-to-Market Derivative Assets		3,044		1,362
Derivative Contracts, Current Liabilities		(3,051)		(1,055)
Derivative Contracts, Noncurrent Liabilities		(1,303)		(856)
Total Mark-to-Market Derivative (Liabilities)		(4,354)		(1,911)
Net Mark-to-Market Derivative Assets (Liabilities)		(1,310)		(549)
Energy-Related Contracts [Member] | Other Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	1,280		839
Energy-Related Contracts [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	(2,084)		(744)
Energy-Related Contracts [Member] | Other Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	(767)		(518)
Energy-Related Contracts [Member] | Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1],[2],[3]	(2,851)		(1,262)
Energy-Related Contracts [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	2,892		1,038
Energy-Related Contracts [Member] | Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1],[3]	$ 4,172	[4]	$ 1,877	[2]
[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 March 31, 2022 and December 31, 2021, PSEG Power had net cash collateral (receipts) payments to counterparties of $1,527 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,321 million and $615 million as of March 31, 2022 and December 31, 2021, respectively, were netted against the corresponding net derivative contract positions. Of the $1,321 million as of March 31, 2022, $(22) million was netted against current assets, $(15) million was netted against noncurrent assets, $830 million was netted against current liabilities and $528 million was netted against noncurrent liabilities. Of the $615 million as of December 31, 2021, $(30) million was netted against current assets, $(13) million was netted against noncurrent assets, $323 million was netted against current liabilities and $335 million was netted 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.
[4]	Private term loan with book value approximating fair value (Level 2 measurement).

Financial Risk Management Act_6

Financial Risk Management Activities (Schedule Of Reconciliation For Derivative Activity Included In Accumulated Other Comprehensive Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Less: Loss Reclassified into Income	$ (7)	$ (3)
Loss Recognized in AOCL	(65)	(40)
Less: Loss Reclassified into Income	(5)	(2)
Cash Flow Hedges [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Pre-Tax Balance at Beginning of Period	(9)	(13)	$ (13)
Loss Recognized in AOCL	0		0
Less: Loss Reclassified into Income	(1)		(4)
Pre-Tax Balance at End of Period	(8)		(9)
After-Tax Balance at Beginning of Period	(6)	(9)	(9)
Loss Recognized in AOCL	0	0	0
Less: Loss Reclassified into Income	(1)	$ (1)	(3)
After-Tax Balance at End of Period	$ (5)		$ (6)

Financial Risk Management Act_7

Financial Risk Management Activities (Schedule Of Derivative Instruments Not Designated As Hedging Instruments And Impact On Results Of Operations) (Detail) - Energy-Related Contracts [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (1,044)	$ (40)
Operating Revenues [Member]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(1,044)	(46)
Energy Costs [Member]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 0	$ 6

Financial Risk Management Act_8

Financial Risk Management Activities (Schedule Of Net Notional Volume For Open Derivative Contracts) (Detail) - PSEG Power [Member] $ / mwh in Millions, $ / DTH in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022$ / mwh$ / DTH	Dec. 31, 2021$ / DTH$ / mwh
Natural Gas Dth [Member]
Derivative [Line Items]
Net notional volume of derivative transactions | $ / DTH	53	47
Electricity MWh [Member]
Derivative [Line Items]
Net notional volume of derivative transactions	(75)	(76)
FTRs MWh [Member]
Derivative [Line Items]
Net notional volume of derivative transactions	18	27

Financial Risk Management Act_9

Financial Risk Management Activities (Schedule Providing Credit Risk From Others, Net Of Collateral) (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)Counterparty
PSEG Power [Member]
Derivative [Line Items]
Current Exposure	$ 284
Securities held as Collateral	11
Net exposure	$ 273
Number of Counterparties greater than 10% | Counterparty	1
Number Of Active Counterparties On Credit Risk Derivatives | Counterparty	102
PSEG Power [Member] | Investment Grade - External Rating [Member]
Derivative [Line Items]
Percentage Of Credit Exposure	96.00%
PSEG Power [Member] | Investment Grade [Member]
Derivative [Line Items]
Current Exposure	$ 270
Securities held as Collateral	9
Net exposure	$ 261
Number of Counterparties greater than 10% | Counterparty	1
Amount Of Net Credit Exposure Greater Than Ten Percent	$ 148
PSEG Power [Member] | External Credit Rating, Non Investment Grade [Member]
Derivative [Line Items]
Current Exposure	14
Securities held as Collateral	2
Amount Of Net Credit Exposure Greater Than Ten Percent	0
PSEG Power [Member] | Non-Investment Grade [Member]
Derivative [Line Items]
Net exposure	$ 12
Number of Counterparties greater than 10% | Counterparty	0
Public Service Electric and Gas Company [Member]
Derivative [Line Items]
Current Exposure	$ 179
Letter of Credit [Member] | PSEG Power [Member]
Derivative [Line Items]
Securities held as Collateral	11
Public Service Electric and Gas Company [Member] | PSEG Power [Member] | Investment Grade [Member]
Derivative [Line Items]
Amount Of Net Credit Exposure Greater Than Ten Percent	$ 148

Fair Value Measurements (PSEG's

Fair Value Measurements (PSEG's, Power's And PSE&G's Respective Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Detail) - USD ($) $ in Millions		Mar. 31, 2022		Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Already Posted, Aggregate Fair Value		$ 1,527		$ 844
Total Mark-to-Market Derivative Assets		193		100
Total Mark-to-Market Derivative (Liabilities)		(182)		(34)
Collateral netted against assets and liabilities	[1]	(1,321)		(615)
PSEG Power [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Already Posted, Aggregate Fair Value		1,500		343
Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value Disclosure		1,535	[2]	615	[3]
Quoted Market Prices of Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value Disclosure	[2]	875		250
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value Disclosure		0	[2]	0	[3]
Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value Disclosure	[2]	0		0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value Disclosure		0	[2]	0	[3]
Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value Disclosure	[2]	0		0
Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value Disclosure		1,535	[2]	615	[3]
Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, Fair Value Disclosure	[2]	875		250
Energy-Related Contracts [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Mark-to-Market Derivative Assets	[4]	25		25
Total Mark-to-Market Derivative (Liabilities)		(58)	[5]	(26)	[4]
Energy-Related Contracts [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Mark-to-Market Derivative Assets	[4]	3,018		1,336
Total Mark-to-Market Derivative (Liabilities)		(4,288)	[5]	(1,880)	[4]
Energy-Related Contracts [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Mark-to-Market Derivative Assets	[4]	1		1
Total Mark-to-Market Derivative (Liabilities)		(8)	[5]	(5)	[4]
Energy-Related Contracts [Member] | Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Mark-to-Market Derivative Assets	[4]	193		100
Total Mark-to-Market Derivative (Liabilities)		(182)	[5]	(34)	[4]
Cash and Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0	[2]	0	[3]
Cash and Cash Equivalents [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[2],[6]	0		0
Assets [Member] | Energy-Related Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[1],[4],[6]	2,851		1,262
Other Liabilities [Member] | Energy-Related Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[1],[6]	(4,172)	[5]	(1,877)	[4]
Rabbi Trusts Debt Securities Other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Rabbi Trusts Debt Securities Other [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Rabbi Trusts Debt Securities Other [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Debt Securities Other [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Debt Securities Other [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	91		109
Rabbi Trusts Debt Securities Other [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	16		19
Rabbi Trusts Debt Securities Other [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Debt Securities Other [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Debt Securities Other [Member] | Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	91		109
Rabbi Trusts Debt Securities Other [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	16		19
Rabbi Trusts Debt Securities Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Rabbi Trusts Debt Securities Government Obligations [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Rabbi Trusts Debt Securities Government Obligations [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Debt Securities Government Obligations [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Debt Securities Government Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	32		34
Rabbi Trusts Debt Securities Government Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	6		6
Rabbi Trusts Debt Securities Government Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Debt Securities Government Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Debt Securities Government Obligations [Member] | Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	32		34
Rabbi Trusts Debt Securities Government Obligations [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	6		6
Rabbi Trusts US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Rabbi Trusts US Treasury Obligations [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Rabbi Trusts US Treasury Obligations [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts US Treasury Obligations [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts US Treasury Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	71		73
Rabbi Trusts US Treasury Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	13		13
Rabbi Trusts US Treasury Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts US Treasury Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts US Treasury Obligations [Member] | Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	71		73
Rabbi Trusts US Treasury Obligations [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	13		13
Rabbi Trusts Equity Securities Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Rabbi Trusts Equity Securities Mutual Funds [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Rabbi Trusts Equity Securities Mutual Funds [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	25		26
Rabbi Trusts Equity Securities Mutual Funds [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	4		5
Rabbi Trusts Equity Securities Mutual Funds [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Equity Securities Mutual Funds [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Equity Securities Mutual Funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Equity Securities Mutual Funds [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Rabbi Trusts Equity Securities Mutual Funds [Member] | Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	25		26
Rabbi Trusts Equity Securities Mutual Funds [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	4		5
Corporate Debt Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Corporate Debt Obligations [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Corporate Debt Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	617		647
Corporate Debt Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Corporate Debt Obligations [Member] | Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	617		647
Government Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Government Debt Securities [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Government Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	351		373
Government Debt Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Government Debt Securities [Member] | Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	351		373
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
US Treasury Securities [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
US Treasury Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	289		314
US Treasury Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
US Treasury Securities [Member] | Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	289		314
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral netted against assets and liabilities	[6]	0		0
Equity Securities [Member] | Quoted Market Prices of Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	1,232		1,301
Equity Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Equity Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	0		0
Equity Securities [Member] | Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[7]	1,232		1,301
Nuclear Decommissioning Trust (NDT) Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
NDT Fund Foreign Currency		$ 2		$ 2
[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 March 31, 2022 and December 31, 2021, PSEG Power had net cash collateral (receipts) payments to counterparties of $1,527 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,321 million and $615 million as of March 31, 2022 and December 31, 2021, respectively, were netted against the corresponding net derivative contract positions. Of the $1,321 million as of March 31, 2022, $(22) million was netted against current assets, $(15) million was netted against noncurrent assets, $830 million was netted against current liabilities and $528 million was netted against noncurrent liabilities. Of the $615 million as of December 31, 2021, $(30) million was netted against current assets, $(13) million was netted against noncurrent assets, $323 million was netted against current liabilities and $335 million was netted against noncurrent liabilities.
[2]	Represents money market mutual funds.
[3]	Given that these bonds do not trade actively, the fair value amounts of taxable debt securities (primarily Level 2 measurements) are generally determined by a valuation model using market-based measurements that are processed through a rules-based pricing methodology. The fair value amounts above do not represent the price at which the outstanding debt may be called for redemption by each issuer under their respective debt agreements.
[4]	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.
[5]	Private term loan with book value approximating fair value (Level 2 measurement).
[6]	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.
[7]	The fair value measurement table excludes foreign currency of $2 million in the NDT Fund as of March 31, 2022 and December 31, 2021. The NDT Fund maintains investments in various equity and fixed income securities. The Rabbi Trust maintains investments in a Russell 3000 index fund and various fixed income securities. These securities are generally valued with prices that are either exchange provided (equity securities) or market transactions for comparable securities and/or broker quotes (fixed income securities).Level 1—Investments in marketable equity securities within the NDT Fund are primarily investments in common stocks across a broad range of industries and sectors. Most equity securities are priced utilizing the principal market close price or, in some cases, midpoint, bid or ask price. Certain other equity securities in the NDT and Rabbi Trust Funds consist primarily of investments in money market funds which seek a high level of current income as is consistent with the preservation of capital and the maintenance of liquidity. To pursue its goals, the funds normally invest in diversified portfolios of high quality, short-term, dollar-denominated debt securities and government securities. The funds’ net asset value is priced and published daily. The Rabbi Trust’s Russell 3000 index fund is valued based on quoted prices in an active market and can be redeemed daily without restriction. Level 2—NDT and Rabbi Trust fixed income securities include investment grade corporate bonds, collateralized mortgage obligations, asset-backed securities and certain government and U.S. Treasury obligations or Federal Agency asset-backed securities and municipal bonds with a wide range of maturities. Since many fixed income securities do not trade on a daily basis, they are priced using an evaluated pricing methodology that varies by asset class and reflects observable market information such as the most recent exchange price or quoted bid for similar securities. Market-based standard inputs typically include benchmark yields, reported trades, broker/dealer quotes and issuer spreads. Certain short-term investments are valued using observable market prices or market parameters such as time-to-maturity, coupon rate, quality rating and current yield.

Fair Value Measurements (Change

Fair Value Measurements (Changes In Level 3 Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Detail) - Net Derivative Assets (Liabilities) [Member] $ in Millions	Mar. 31, 2022USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Opening Balance	$ (1)
Closing Balance	$ (7)

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net assets measured at fair value on a recurring basis	$ 4,300		$ 3,400
Net Derivative Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs	(7)		$ (1)
Nuclear Decommissioning Trust (NDT) Fund [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
NDT Fund Foreign Currency	$ 2	$ 2

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Of Debt) (Detail) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-Term Debt, Carrying Amount		$ 17,668	$ 15,919
Long-Term Debt, Fair Value		17,646	17,546
Public Service Electric and Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-Term Debt, Carrying Amount	[1]	12,292	11,795
Long-Term Debt, Fair Value	[1]	12,432	13,374
PSEG Power [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-Term Debt, Carrying Amount	[2]	1,250	0
Long-Term Debt, Fair Value	[2]	1,250	0
PSEG [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-Term Debt, Carrying Amount	[1]	4,126	4,124
Long-Term Debt, Fair Value	[1]	$ 3,964	$ 4,172
[1]	Given that these bonds do not trade actively, the fair value amounts of taxable debt securities (primarily Level 2 measurements) are generally determined by a valuation model using market-based measurements that are processed through a rules-based pricing methodology. The fair value amounts above do not represent the price at which the outstanding debt may be called for redemption by each issuer under their respective debt agreements.
[2]	Private term loan with book value approximating fair value (Level 2 measurement).

Other Income (Deductions) (Sche

Other Income (Deductions) (Schedule Of Other Income (Deductions)) (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Component of Other Income (Deductions) [Line Items]
NDT Fund Interest and Dividends		$ 14	$ 13
Allowance for Funds Used During Construction		15	23
Solar Loan Interest		3	3
Purchase of Tax Losses		(27)	(16)
Other		0	2
Other Income (Deductions)		5	25
Public Service Electric and Gas Company [Member]
Component of Other Income (Deductions) [Line Items]
NDT Fund Interest and Dividends		0	0
Allowance for Funds Used During Construction		15	23
Solar Loan Interest		3	3
Purchase of Tax Losses		0	0
Other		1	2
Other Income (Deductions)		19	28
Other Entities [Member]
Component of Other Income (Deductions) [Line Items]
NDT Fund Interest and Dividends	[1]	14	13
Allowance for Funds Used During Construction	[1]	0	0
Solar Loan Interest	[1]	0	0
Purchase of Tax Losses	[1]	(27)	(16)
Other	[1]	(1)	0
Other Income (Deductions)	[1]	$ (14)	$ (3)
[1]	Other consists of activity at PSEG (as parent company), PSEG Power, Energy Holdings, Services, PSEG LI and intercompany eliminations.

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Tax Rates) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Taxes [Line Items]
Pre-Tax Income	$ (154)	$ 765
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	(32)	161
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	(29)	41
Income Tax Reconciliation Deductions Nuclear Decommissioning Trust	(6)	8
Effective Income Tax Rate Reconciliation, Tax Settlement, Domestic, Amount	0	(7)
Effective Income Tax Rate Reconciliation, GPRC	(6)	(1)
Effective Income Tax Rate Reconciliation, Tax Adjustment Credit, Amount	(73)	(78)
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	(6)	(7)
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	(120)	(44)
Income Tax Provision	$ (152)	$ 117
Effective tax rate	98.70%	15.30%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Public Service Electric and Gas Company [Member]
Income Taxes [Line Items]
Pre-Tax Income	$ 598	$ 556
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	126	117
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	41	38
Effective Income Tax Rate Reconciliation, GPRC	(6)	(1)
Effective Income Tax Rate Reconciliation, Tax Adjustment Credit, Amount	(73)	(78)
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	1	3
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	(37)	(38)
Income Tax Provision	$ 89	$ 79
Effective tax rate	14.90%	14.20%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Detail) $ in Millions	Mar. 31, 2022USD ($)
Income Taxes [Line Items]
Operating Loss Carryforwards	$ 46
Public Service Electric and Gas Company [Member]
Income Taxes [Line Items]
Operating Loss Carryforwards	$ 7

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss), Net of Tax (Changes of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Beginning Balance	$ (350)	$ (504)	$ (504)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(65)	(40)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	5	2
Other Comprehensive Income (Loss), net of tax	(60)	(38)
Accumulated Other Comprehensive Income (Loss), Ending Balance	(410)	(542)	(350)
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Beginning Balance	(6)	(9)	(9)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0	0
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	1	1	3
Other Comprehensive Income (Loss), net of tax	1	1
Accumulated Other Comprehensive Income (Loss), Ending Balance	(5)	(8)	(6)
Pension and OPEB Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Beginning Balance	(355)	(545)	(545)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	0	3
Other Comprehensive Income (Loss), net of tax	0	3
Accumulated Other Comprehensive Income (Loss), Ending Balance	(355)	(542)	(355)
Available-for-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Beginning Balance	11	50	50
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(65)	(40)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	4	(2)
Other Comprehensive Income (Loss), net of tax	(61)	(42)
Accumulated Other Comprehensive Income (Loss), Ending Balance	$ (50)	$ 8	$ 11

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss), Net of Tax (Reclassifications of AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Less: Loss Reclassified into Income	$ (7)	$ (3)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Tax	2	1
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	(5)	(2)
Cash Flow Hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cash Flow Hedge, Pre-tax	(1)	(1)
Cash Flow Hedge, Tax	0	0
Cash Flow Hedge, After Tax	(1)	(1)
Less: Loss Reclassified into Income	(1)		$ (4)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	(1)	(1)	$ (3)
Pension and OPEB Plans [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Reclassification Adjustment from AOCI, Pension and OPEB, Pre-Tax	0	(5)
Reclassification Adjustment from AOCI, Pension and OPEB, Tax	0	2
Reclassification Adjustment from AOCI, Pension and OPEB, After-Tax	0	(3)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	0	(3)
Available-for-Sale Securities [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Reclassification for Available for Sale Securities, Pre-Tax	(6)	3
Reclassification for Available for Sale Securities, Tax	2	(1)
Reclassification for Available for Sale Securities, After-Tax	(4)	2
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	(4)	2
Interest Expense [Member] | Cash Flow Hedges [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Cash Flow Hedge, Pre-tax	(1)	(1)
Cash Flow Hedge, Tax	0	0
Cash Flow Hedge, After Tax	(1)	(1)
Non-Operating Pension and OPEB Credits (Costs) [Member] | Pension and OPEB Plans [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Amortization of Prior Service (Cost) Credit, Pre-Tax	5	5
Amortization of Prior Service (Cost) Credit, Tax	(1)	(1)
Amortization of Prior Service (Cost) Credit, After-Tax	4	4
Amortization of Actuarial Loss, Pre-Tax	(5)	(10)
Amortization of Actuarial Loss, Tax	1	3
Amortization of Actuarial Loss, After-Tax	(4)	(7)
Net Gains (Losses) on Trust Investments [Member] | Available-for-Sale Securities [Member]
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Reclassification for Available for Sale Securities, Pre-Tax	(6)	3
Reclassification for Available for Sale Securities, Tax	2	(1)
Reclassification for Available for Sale Securities, After-Tax	$ (4)	$ 2

Earnings Per Share (EPS) And _3

Earnings Per Share (EPS) And Dividends (Basic And Diluted Earnings Per Share Computation) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended
	Mar. 31, 2022	Feb. 28, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Stock Repurchase Program, Authorized Amount					$ 500
Accelerated Share Repurchases, Settlement (Payment) or Receipt	$ 250		$ 250
Accelerated Share Repurchase percentage of initial shares received	80.00%
Payments for Repurchase of Common Stock		$ 250	$ 500	$ 0
Accelerated Share Repurchases, Initial Price Paid Per Share	$ 65.72
Treasury Stock, Shares, Acquired	3,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			3,000
Net Income			$ (2)	$ 648
Weighted Average Common Shares Outstanding, Basic (shares)			501,000	504,000
Effect of Stock Based Compensation Awards, Basic (shares)			0	0
Total Shares, Basic (shares)			501,000	504,000
Net Income, Basic (dollars per share)			$ 0	$ 1.29
Weighted Average Common Shares Outstanding, Diluted (shares)			501,000	504,000
Effect of Stock Based Compensation Awards, Diluted (shares)			0	3,000
Total Shares, Diluted (shares)			501,000	507,000
Net Income, Diluted (dollars per share)			$ 0	$ 1.28

Earnings Per Share (EPS) And _4

Earnings Per Share (EPS) And Dividends (Dividend Payments On Common Stock) (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Common Stock, Dividends, Per Share, Cash Paid	$ 0.54	$ 0.51
Dividend Payments on Common Stock	$ 271	$ 258

Financial Information By Busi_3

Financial Information By Business Segments (Financial Information By Business Segments) (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Operating Revenues		$ 2,313	$ 2,889
Net Income (Loss)		(2)	648
Property, Plant and Equipment, Additions		686	633
Total Assets		47,774		$ 48,999
Investments in Equity Method Subsidiaries		189		173
Public Service Electric and Gas Company [Member]
Segment Reporting Information [Line Items]
Operating Revenues		2,284	2,073
Operating Segments [Member] | Public Service Electric and Gas Company [Member]
Segment Reporting Information [Line Items]
Operating Revenues		2,284	2,073
Net Income (Loss)		509	477
Property, Plant and Equipment, Additions		628	586
Total Assets		38,399		37,198
Investments in Equity Method Subsidiaries		0		0
Operating Segments [Member] | PSEG Power [Member]
Segment Reporting Information [Line Items]
Operating Revenues		460	1,167
Net Income (Loss)		(519)	161
Property, Plant and Equipment, Additions		56	46
Total Assets		7,536		9,777
Investments in Equity Method Subsidiaries		65		62
Operating Segments [Member] | Other [Member]
Segment Reporting Information [Line Items]
Operating Revenues	[1]	153	151
Net Income (Loss)	[1]	8	10
Property, Plant and Equipment, Additions	[1]	2	1
Total Assets	[1]	3,135		5,150
Investments in Equity Method Subsidiaries	[1]	124		111
Eliminations [Member]
Segment Reporting Information [Line Items]
Operating Revenues	[2]	(584)	(502)
Net Income (Loss)	[2]	0	0
Property, Plant and Equipment, Additions	[2]	0	$ 0
Total Assets	[2]	(1,296)		(3,126)
Investments in Equity Method Subsidiaries	[2]	$ 0		$ 0
[1]	Includes amounts applicable to Energy Holdings and PSEG LI, which are below the quantitative threshold for separate disclosure as reportable segments. Other also includes amounts applicable to PSEG (parent company) and Services.
[2]	Intercompany eliminations primarily relate to intercompany transactions between PSE&G and PSEG Power. For a further discussion of the intercompany transactions between PSE&G and PSEG Power, see Note 20. Related-Party Transactions.

Related-Party Transactions (Sch

Related-Party Transactions (Schedule Of Related Party Transactions, Revenue) (Detail) - Public Service Electric and Gas Company [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Net Billings from Power primarily through BGS and BGSS	$ 580	$ 495
Administrative Billings from Services	99	87
Total Billings from Affiliates	$ 679	$ 582

Related-Party Transactions (S_2

Related-Party Transactions (Schedule Of Related Party Transactions, Payables) (Detail) - Public Service Electric and Gas Company [Member] - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Payable To PSEG Power	$ 195	$ 244
Payable To Services	87	111
Payable to PSEG	138	63
Accounts Payable - Affiliated Companies	420	418
Working Capital Advances to Services	33	33
Long-Term Accrued Taxes Payable	$ 6	$ 6