Public Service Electric & Gas 10-K 21 Feb 23 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 17, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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 Public Float			$ 31,279,390,691
Entity Common Stock, Shares Outstanding		498,769,910
Documents Incorporated by Reference	Part of Form 10-K of Documents Incorporated by Reference III Portions of the definitive Proxy Statement for the 2023 Annual Meeting of Stockholders of Public Service Enterprise Group Incorporated, which definitive Proxy Statement is expected to be filed with the Securities and Exchange Commission on or about March 9, 2023, as specified herein.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0000788784
ICFR Auditor Attestation Flag	true
Auditor Firm ID	34
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Morristown, New Jersey
Public Service Electric and Gas Company
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		132,450,344
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0000081033
ICFR Auditor Attestation Flag	false
Auditor Firm ID	34
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Morristown, New Jersey
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
8.00% First and Refunding Mortgage Bonds, due 2037 | Public Service Electric and Gas Company
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
5.00% First and Refunding Mortgage Bonds, due 2037 | Public Service Electric and Gas Company
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

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Revenues		$ 9,800	$ 9,722	$ 9,603
Operating Expenses [Abstract]
Energy Costs		4,018	3,499	3,056
Operation and Maintenance		3,178	3,226	3,115
Depreciation and Amortization		1,100	1,216	1,285
(Gains) Losses on Asset Dispositions and Impairments		123	2,637	(123)
Total Operating Expenses		8,419	10,578	7,333
OPERATING INCOME		1,381	(856)	2,270
Income from Equity Method Investments		14	16	14
Net Gains (Losses) on NDT Fund Investments		(265)	194	253
Other Income (Deductions)		124	98	115
Non-Operating Pension and Other Postretirement Plan Credits (Costs)		376	328	249
Loss on Extinguishment of Debt		0	(298)	0
Interest Expense		(628)	(571)	(600)
Income (Loss) before Income Taxes		1,002	(1,089)	2,301
Income Tax (Expense) Benefit		29	441	(396)
Net Income (Loss)	[1]	$ 1,031	$ (648)	$ 1,905
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
BASIC		498	504	504
DILUTED		501	504	507
EARNINGS PER SHARE:
NET INCOME, BASIC		$ 2.07	$ (1.29)	$ 3.78
NET INCOME, DILUTED		$ 2.06	$ (1.29)	$ 3.76
Public Service Electric and Gas Company
Operating Revenues		$ 7,935	$ 7,122	$ 6,608
Operating Expenses [Abstract]
Energy Costs		3,270	2,688	2,469
Operation and Maintenance		1,838	1,692	1,614
Depreciation and Amortization		935	928	887
(Gains) Losses on Asset Dispositions and Impairments		0	(4)	(1)
Total Operating Expenses		6,043	5,304	4,969
OPERATING INCOME		1,892	1,818	1,639
Net Gains (Losses) on NDT Fund Investments		(2)	2	3
Other Income (Deductions)		88	88	108
Non-Operating Pension and Other Postretirement Plan Credits (Costs)		281	264	205
Interest Expense		(427)	(402)	(388)
Income (Loss) before Income Taxes		1,832	1,770	1,567
Income Tax (Expense) Benefit		(267)	(324)	(240)
Net Income (Loss)		$ 1,565	$ 1,446	$ 1,327
[1]Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Income (Loss)	[1]	$ 1,031	$ (648)	$ 1,905
Other Comprehensive Income (Loss), net of tax
Unrealized Gains (Losses) on Available-for-Sale Securities, net of tax (expense) benefit for the years ended		(132)	(39)	25
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax		3	3	6
Pension/OPEB adjustment, net of tax (expense) benefit for the years ended		(71)	190	(46)
Other Comprehensive Income (Loss), net of tax		(200)	154	(15)
Comprehensive Income		831	(494)	1,890
Public Service Electric and Gas Company
Net Income (Loss)		1,565	1,446	1,327
Other Comprehensive Income (Loss), net of tax
Unrealized Gains (Losses) on Available-for-Sale Securities, net of tax (expense) benefit for the years ended		(6)	(2)	1
Other Comprehensive Income (Loss), net of tax		(6)	(2)	1
Comprehensive Income		$ 1,559	$ 1,444	$ 1,328
[1]Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Available-for-Sale Securities, tax	$ 85	$ 25	$ (16)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	(2)	(1)	(2)
Pension/OPEB adjustment, tax	28	(75)	18
Public Service Electric and Gas Company
Available-for-Sale Securities, tax	$ 2	$ 1	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and Cash Equivalents	$ 465	$ 818
Accounts Receivable, net of allowances	1,944	1,859
Tax Receivable	79	9
Unbilled Revenues	322	217
Fuel	420	296
Materials and Supplies, net	540	448
Prepayments	93	63
Derivative Contracts	18	72
Regulatory Assets	369	364
Assets Held for Sale	20	2,060
Other	33	44
Total Current Assets	4,303	6,250
PROPERTY, PLANT AND EQUIPMENT	45,924	43,684
Less: Accumulated Depreciation and Amortization	(9,982)	(9,318)
Net Property, Plant and Equipment	35,942	34,366
NONCURRENT ASSETS
Regulatory Assets	4,404	3,605
Operating Lease, Right-of-Use Asset	176	201
Long-Term Investments	624	541
Nuclear Decommissioning Trust (NDT) Fund	2,230	2,637
Income Taxes Receivable, Noncurrent	5	47
Long-Term Receivable of VIEs	551	828
Rabbi Trust	183	242
Other Intangibles	14	20
Derivative Contracts	15	28
Other	271	234
Total Noncurrent Assets	8,473	8,383
Total Assets	48,718	48,999
CURRENT LIABILITIES
Long-Term Debt Due Within One Year	1,575	700
Commercial Paper and Loans	2,200	3,519
Accounts Payable	1,271	1,315
Derivative Contracts	124	17
Accrued Interest	134	121
Accrued Taxes	12	67
Clean Energy Program	145	146
Obligation to Return Cash Collateral	290	179
Regulatory Liabilities	384	388
Liabilities Held for Sale	0	144
Other	545	476
Total Current Liabilities	6,680	7,072
NONCURRENT LIABILITIES
Deferred Income Taxes and Investment Tax Credits (ITC)	5,725	5,759
Regulatory Liabilities	2,240	2,497
Operating Leases	169	191
Asset Retirement Obligations	1,499	1,573
Other Postretirement Benefit (OPEB) Costs	410	572
OPEB Costs of Servco	455	640
Accrued Pension Costs	705	318
Accrued Pension Costs of Servco	82	174
Environmental Costs	231	245
Derivative Contracts	33	17
Long-Term Accrued Taxes	66	100
Other	199	184
Total Noncurrent Liabilities	11,814	12,270
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT
Total Long-Term Debt	16,495	15,219
STOCKHOLDER'S EQUITY
Common Stock	5,065	5,045
Treasury Stock, at cost	(1,377)	(896)
Retained Earnings	10,591	10,639
Accumulated Other Comprehensive Income (Loss)	(550)	(350)
Total Stockholder's Equity	13,729	14,438
Total Capitalization	30,224	29,657
TOTAL LIABILITIES AND CAPITALIZATION	48,718	48,999
Public Service Electric and Gas Company
CURRENT ASSETS
Cash and Cash Equivalents	220	294
Accounts Receivable, net of allowances	1,075	1,050
Unbilled Revenues	322	217
Materials and Supplies, net	307	233
Prepayments	7	15
Regulatory Assets	369	364
Other	32	33
Total Current Assets	2,332	2,206
PROPERTY, PLANT AND EQUIPMENT	41,045	38,588
Less: Accumulated Depreciation and Amortization	(8,215)	(7,640)
Net Property, Plant and Equipment	32,830	30,948
NONCURRENT ASSETS
Regulatory Assets	4,404	3,605
Operating Lease, Right-of-Use Asset	86	92
Long-Term Investments	143	181
Rabbi Trust	32	43
Other	133	123
Total Noncurrent Assets	4,798	4,044
Total Assets	39,960	37,198
CURRENT LIABILITIES
Long-Term Debt Due Within One Year	825	0
Accounts Payable	703	571
Accounts Payable-Affiliated Companies	485	418
Accrued Interest	113	107
Clean Energy Program	145	146
Obligation to Return Cash Collateral	290	179
Regulatory Liabilities	384	388
Other	416	376
Total Current Liabilities	3,361	2,185
NONCURRENT LIABILITIES
Deferred Income Taxes and Investment Tax Credits (ITC)	5,348	4,874
Regulatory Liabilities	2,240	2,497
Operating Leases	77	83
Asset Retirement Obligations	384	363
Other Postretirement Benefit (OPEB) Costs	255	354
Accrued Pension Costs	397	132
Environmental Costs	173	191
Long-Term Accrued Taxes	9	6
Other	163	145
Total Noncurrent Liabilities	9,046	8,645
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM DEBT
Total Long-Term Debt	11,871	11,795
STOCKHOLDER'S EQUITY
Common Stock	892	892
Contributed Capital	1,170	1,170
Basis Adjustment	986	986
Retained Earnings	12,639	11,524
Accumulated Other Comprehensive Income (Loss)	(5)	1
Total Stockholder's Equity	15,682	14,573
Total Capitalization	27,553	26,368
TOTAL LIABILITIES AND CAPITALIZATION	$ 39,960	$ 37,198

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, allowances	$ 323	$ 325
Unbilled Revenues, allowance for credit losses	$ 16	$ 12
Common Stock, issued	534,000,000	534,000,000
Common Stock, authorized	1,000,000,000	1,000,000,000
Treasury Stock, Shares	37,000,000	30,000,000
Public Service Electric and Gas Company
Accounts Receivable, allowances	$ 323	$ 325
Unbilled Revenues, allowance for credit losses	$ 16	$ 12
Common Stock, issued	132,000,000	132,000,000
Common Stock, authorized	150,000,000	150,000,000

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	[1]	$ 1,031	$ (648)	$ 1,905
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:
Depreciation and Amortization		1,100	1,216	1,285
Amortization of Nuclear Fuel		183	187	184
(Gains) Losses on Asset Dispositions and Impairments		123	2,637	(123)
Loss on Extinguishment of Debt		0	298	0
Emission Allowances and Renewable Energy Credit Compliance Accrual		55	138	151
Provision for Deferred Income Taxes (Other than Leases) and ITC		(264)	(817)	139
Non-Cash Employee Benefit Plan Costs		(239)	(178)	(105)
Leveraged Lease Income, Adjusted for Rents Received and Deferred Taxes		15	(11)	(135)
Net Realized and Unrealized (Gains) Losses on Energy Contracts and Other Derivatives		639	614	80
Net Change in Regulatory Assets and Liabilities		(316)	(271)	(101)
Cost of Removal		(129)	(121)	(106)
Net Realized (Gains) Losses and (Income) Expense from NDT Fund		202	(229)	(278)
Net Change in Certain Current Assets and Liabilities:
Cash Collateral		(677)	(790)	(10)
Increase (Decrease) in Obligation to Return Cash Collateral		111	81	(21)
Accrued Taxes		(94)	(127)	124
Other Current Assets and Liabilities		(187)	(263)	201
Employee Benefit Plan Funding and Related Payments		(35)	(25)	(18)
Other		(15)	45	(70)
Net Cash Provided By (Used In) Operating Activities		1,503	1,736	3,102
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant and Equipment		(2,888)	(2,719)	(2,923)
Proceeds from Sales of Trust Investments		1,586	2,100	2,234
Purchases of Trust Investments		1,611	2,092	2,250
Proceeds from Sale of Property, Plant, and Equipment		1,918	569	301
Contributions to Equity Method Investments		(124)	(111)	0
Other		18	9	(38)
Net Cash Provided By (Used In) Investing Activities		(1,101)	(2,244)	(2,676)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Change in Commercial Paper and Loans		(819)	256	(352)
Proceeds from Short-term Debt		2,000	2,500	800
Repayments of Short-term Debt		(2,500)	(300)	(500)
Issuance of Long-Term Debt		2,850	2,825	2,450
Redemption of Long-Term Debt		(700)	(3,082)	(1,365)
Payment for Debt Extinguishment or Debt Prepayment Cost		0	(294)	0
Payments for Repurchase of Common Stock		(500)	0	0
Cash Dividend Paid		(1,079)	(1,031)	(991)
Other		(6)	(75)	(72)
Net Cash Provided By (Used In) Financing Activities		(754)	799	(30)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash		(352)	291	396
Cash, Cash Equivalents and Restricted Cash, beginning		863	572	176
Cash, Cash Equivalents and Restricted Cash, ending		511	863	572
Supplemental Disclosure of Cash Flow Information:
Income Taxes Paid (Received)		353	425	297
Interest Paid, Net of Amounts Capitalized		602	547	568
Accrued Property, Plant and Equipment Expenditures		366	331	387
Public Service Electric and Gas Company
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)		1,565	1,446	1,327
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:
Depreciation and Amortization		935	928	887
(Gains) Losses on Asset Dispositions and Impairments		0	(4)	(1)
Provision for Deferred Income Taxes (Other than Leases) and ITC		137	116	53
Non-Cash Employee Benefit Plan Costs		(179)	(156)	(103)
Net Change in Regulatory Assets and Liabilities		(316)	(271)	(101)
Cost of Removal		(129)	(121)	(106)
Net Change in Certain Current Assets and Liabilities:
Accounts Receivable and Unbilled Revenues		(132)	(34)	(100)
Fuel, Materials and Supplies		(73)	(16)	(2)
Increase (Decrease) in Obligation to Return Cash Collateral		111	81	(21)
Prepayments		8	(1)	21
Accounts Payable		96	(71)	44
Accounts Receivable/Payable-Affiliated Companies, net		18	(32)	80
Other Current Assets and Liabilities		44	(71)	81
Employee Benefit Plan Funding and Related Payments		(17)	(10)	(4)
Other		(40)	(64)	(103)
Net Cash Provided By (Used In) Operating Activities		2,028	1,724	1,953
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant and Equipment		(2,590)	(2,447)	(2,507)
Proceeds from Sales of Trust Investments		12	35	40
Purchases of Trust Investments		10	29	40
Solar Loan Investments		34	29	13
Other		11	16	12
Net Cash Provided By (Used In) Investing Activities		(2,543)	(2,396)	(2,482)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Change in Commercial Paper and Loans		0	(100)	(262)
Issuance of Long-Term Debt		900	1,325	1,350
Redemption of Long-Term Debt		0	(434)	(259)
Contributed Capital		0	0	75
Cash Dividend Paid		(450)	0	(175)
Other		(8)	(13)	(17)
Net Cash Provided By (Used In) Financing Activities		442	778	712
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash		(73)	106	183
Cash, Cash Equivalents and Restricted Cash, beginning		339	233	50
Cash, Cash Equivalents and Restricted Cash, ending		266	339	233
Supplemental Disclosure of Cash Flow Information:
Income Taxes Paid (Received)		137	266	157
Interest Paid, Net of Amounts Capitalized		409	383	369
Accrued Property, Plant and Equipment Expenditures		$ 331	$ 294	$ 323
[1]Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.

Consolidated Statements Of Stoc

Consolidated Statements Of Stockholders' Equity - USD ($) shares in Thousands, $ in Millions	Total		Cumulative Effect, Period of Adoption, Adjustment	Common Stock [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Other Comprehensive Income (Loss) [Member] Cumulative Effect, Period of Adoption, Adjustment	Public Service Electric and Gas Company	Public Service Electric and Gas Company Cumulative Effect, Period of Adoption, Adjustment	Public Service Electric and Gas Company Common Stock [Member]	Public Service Electric and Gas Company Contributed Capital [Member]	Public Service Electric and Gas Company Basis Adjustment [Member]	Public Service Electric and Gas Company Retained Earnings [Member]	Public Service Electric and Gas Company Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment	Public Service Electric and Gas Company Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance (in value) at Dec. 31, 2019	$ 15,089		$ (2)	$ 5,003	$ (831)	$ 11,406	$ (2)	$ (489)	$ 0	$ 11,903	$ (2)	$ 892	$ 1,095	$ 986	$ 8,928	$ (2)	$ 2
Beginning Balance, shares at Dec. 31, 2019				534,000	(30,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	1,905	[1]				1,905				1,327					1,327
Other Comprehensive Income (Loss), net of tax
Other Comprehensive Income (Loss), net of tax	(15)							(15)		1							1
Comprehensive Income	1,890									1,328
Cash Dividends on Common Stock	(991)					(991)		0		(175)					(175)
Contributed Capital										75			75
Other	(2)			$ 28	$ (30)	0		0
Treasury Stock, Shares, Acquired				0	0
Ending Balance (in value) at Dec. 31, 2020	$ 15,984			$ 5,031	$ (861)	12,318		(504)		13,129		892	1,170	986	10,078		3
Ending Balance, shares at Dec. 31, 2020				534,000	(30,000)
Other Comprehensive Income (Loss), net of tax
Common Stock, Dividends, Per Share, Cash Paid	$ 1.96
Other Comprehensive Income (Loss), tax	$ 0									0
Payments for Repurchase of Common Stock	0
Net Income (Loss)	(648)	[1]				(648)				1,446					1,446
Other Comprehensive Income (Loss), net of tax	154							154		(2)							(2)
Comprehensive Income	(494)									1,444
Cash Dividends on Common Stock	(1,031)					(1,031)		0
Contributed Capital										0
Other	(21)			$ 14	$ (35)	0		0
Treasury Stock, Shares, Acquired				0	0
Ending Balance (in value) at Dec. 31, 2021	$ 14,438			$ 5,045	$ (896)	10,639		(350)		14,573		892	1,170	986	11,524		1
Ending Balance, shares at Dec. 31, 2021				534,000	(30,000)
Other Comprehensive Income (Loss), net of tax
Common Stock, Dividends, Per Share, Cash Paid	$ 2.04
Other Comprehensive Income (Loss), tax	$ (51)									1
Payments for Repurchase of Common Stock	0
Net Income (Loss)	1,031	[1]				1,031				1,565					1,565
Other Comprehensive Income (Loss), net of tax	(200)							(200)		(6)							(6)
Comprehensive Income	831									1,559
Cash Dividends on Common Stock	(1,079)					(1,079)		0		(450)					(450)
Contributed Capital										0
Other	39			$ 20	$ 19	0		0
Treasury Stock, Shares, Acquired				0	0
Ending Balance (in value) at Dec. 31, 2022	$ 13,729			$ 5,065	$ (1,377)	$ 10,591		$ (550)		15,682		$ 892	$ 1,170	$ 986	$ 12,639		$ (5)
Ending Balance, shares at Dec. 31, 2022				534,000	(37,000)
Other Comprehensive Income (Loss), net of tax
Common Stock, Dividends, Per Share, Cash Paid	$ 2.16
Other Comprehensive Income (Loss), tax	$ 111									$ 2
Treasury Stock, Shares, Acquired	(7,400)				(7,000)
Payments for Repurchase of Common Stock	$ (500)				$ (500)
[1]Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.

Consolidated Statements Of St_2

Consolidated Statements Of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Comprehensive Income (Loss), tax	$ 111	$ (51)	$ 0
Common Stock, Dividends, Per Share, Cash Paid	$ 2.16	$ 2.04	$ 1.96
Public Service Electric and Gas Company
Other Comprehensive Income (Loss), tax	$ 2	$ 1	$ 0

Organization, Basis Of Presenta

Organization, Basis Of Presentation And Summary Of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies	Organization, Basis of Presentation and Summary of 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 nuclear generation business. PSEG’s principal operating subsidiaries 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 (EE) 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 legacy 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 May 2021, PSEG Power Ventures LLC (Power Ventures), a direct wholly owned subsidiary of PSEG Power, entered into a purchase agreement with Quattro Solar, LLC, an affiliate of LS Power, relating to the sale by Power Ventures of 100% of its ownership interest in PSEG Solar Source LLC (Solar Source) including its related assets and liabilities. The transaction closed in June 2021. 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 Annual Reports on Form 10-K and in accordance with accounting guidance generally accepted in the United States (GAAP). Significant Accounting Policies Principles of Consolidation Each company consolidates those entities in which it has a controlling interest or is the primary beneficiary. See Note 5. Variable Interest Entities. Entities over which the companies exhibit significant influence, but do not have a controlling interest and/or are not the primary beneficiary, are accounted for under the equity method of accounting. For investments in which significant influence does not exist and the investor is not the primary beneficiary, the cost method of accounting is applied. All significant intercompany accounts and transactions are eliminated in consolidation. PSE&G and PSEG Power also have undivided interests in certain jointly-owned facilities, with each responsible for paying its respective ownership share of construction costs, fuel purchases and operating expenses. PSE&G and PSEG Power consolidate their portion of any revenues and expenses related to their respective jointly-owned facilities in the appropriate revenue and expense categories. Accounting for the Effects of Regulation In accordance with accounting guidance for rate-regulated entities, PSE&G’s financial statements reflect the economic effects of regulation. PSE&G defers the recognition of costs (a Regulatory Asset) or records the recognition of obligations (a Regulatory Liability) if it is probable that, through the rate-making process, there will be a corresponding increase or decrease in future rates. Accordingly, PSE&G has deferred certain costs and recoveries, which are being amortized over various future periods. To the extent that collection of any such costs or payment of liabilities becomes no longer probable as a result of changes in regulation, the associated Regulatory Asset or Liability is charged or credited to income. Management believes that PSE&G’s T&D businesses continue to meet the accounting requirements for rate-regulated entities. For additional information, see Note 7. Regulatory Assets and Liabilities. Cash, Cash Equivalents and Restricted Cash The following provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the years ended December 31, 2021 and 2022. Restricted cash consists primarily of deposits received related to a construction project at PSE&G. PSE&G PSEG Power & 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 December 31, 2022 Cash and Cash Equivalents $ 220 $ 245 $ 465 Restricted Cash in Other Current Assets 27 — 27 Restricted Cash in Other Noncurrent Assets 19 — 19 Cash, Cash Equivalents and Restricted Cash $ 266 $ 245 $ 511 (A) Includes amounts applicable to PSEG Power, Energy Holdings, Services and PSEG (parent company). Derivative Instruments Each company uses derivative instruments to manage risk pursuant to its business plans and prudent practices. 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, fossil fuels 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. Changes in the fair market value of the derivative contracts are recorded in earnings. Determining whether a contract qualifies as a derivative requires that management exercise significant judgment, including assessing the contract’s market liquidity. PSEG has determined that contracts to purchase and sell certain products do not meet the definition of a derivative under the current authoritative guidance since they do not provide for net settlement, or the markets are not sufficiently liquid to conclude that physical forward contracts are readily convertible to cash. Under current authoritative guidance, all derivatives are recognized on the balance sheet at their fair value, except for derivatives that are designated as normal purchases and normal sales (NPNS). Further, derivatives that qualify for hedge accounting can be designated as fair value or cash flow hedges. For fair value hedges, changes in fair values for both the derivative and the underlying hedged exposure are recognized in earnings each period. Certain offsetting derivative assets and liabilities 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, these positions are offset on the Consolidated Balance Sheets of PSEG. For cash flow hedges, the gain or loss on a derivative instrument designated and qualifying as a cash flow hedge is deferred in Accumulated Other Comprehensive Income (Loss) until earnings are affected by the variability of cash flows of the hedged transaction. For derivative contracts that do not qualify or are not designated as cash flow or fair value hedges or as NPNS, changes in fair value are recorded in current period earnings. PSEG does not currently elect fair value or cash flow hedge accounting on its commodity derivative positions. Contracts that qualify for, and are designated, as NPNS are accounted for upon settlement. Contracts which qualify for NPNS are contracts for which physical delivery is probable, they will not be financially settled, and the quantities under contract are expected to be used or sold in the normal course of business over a reasonable period of time. If a contract no longer meets the requirements for NPNS designation, the changes in fair value since inception, and ongoing changes, of the contract and similar contracts in that portfolio, are recorded in current period earnings. For additional information regarding derivative financial instruments, see Note 18. Financial Risk Management Activities. Revenue Recognition PSE&G’s regulated electric and gas revenues are recorded primarily based on services rendered to customers. PSE&G records unbilled revenues for the estimated amount customers will be billed for services rendered from the time meters were last read to the end of the respective accounting period. The unbilled revenue is estimated each month based on usage per day, the number of unbilled days in the period, estimated seasonal loads based upon the time of year and the variance of actual degree-days and temperature-humidity-index hours of the unbilled period from expected norms. Regulated revenues from the transmission of electricity are recognized as services are provided based on a FERC-approved annual formula rate mechanism. This mechanism provides for an annual filing of estimated revenue requirement with rates effective January 1 of each year. After completion of the annual period ending December 31, PSE&G files a true-up whereby it compares its actual revenue requirement to the original estimate to determine any over or under collection of revenue. PSE&G records the estimated financial statement impact of the difference between the actual and the filed revenue requirement as a refund or deferral for future recovery when such amounts are probable and can be reasonably estimated in accordance with accounting guidance for rate-regulated entities. The majority of PSEG Power’s revenues relate to bilateral contracts, which are accounted for on the accrual basis as the energy is delivered. PSEG Power’s revenue also includes changes in the value of energy derivative contracts that are not designated as NPNS. See Note 18. Financial Risk Management Activities for further discussion. As of December 31, 2022, PSEG Power owns generation within PJM Interconnection, L.L.C. (PJM), which facilitates the dispatch of energy and energy-related products. Prior to the sale of the fossil generation assets, PSEG Power also had significant sales in the New York Independent System Operator (NYISO) and the New England Independent System Operator (ISO-NE) regions. PSEG generally reports electricity sales and purchases conducted with the Independent System Operators (ISOs) at PSEG Power on a net hourly basis in either Revenues or Energy Costs in its Consolidated Statement of Operations, the classification of which depends on the net hourly activity. Capacity revenue and expense are also reported net based on PSEG Power’s monthly net sale or purchase position in the individual ISOs. PSEG LI is the primary beneficiary of Long Island Electric Utility Servco, LLC (Servco). For transactions in which Servco acts as principal, Servco records revenues and the related pass-through expenditures separately in Operating Revenues and Operation and Maintenance (O&M) Expense, respectively. See Note 5. Variable Interest Entities for further information. For additional information regarding Revenues, see Note 3. Revenues. Depreciation and Amortization (D&A) PSE&G calculates depreciation under the straight-line method based on estimated average remaining lives of the several classes of property. These estimates are reviewed on a periodic basis and necessary adjustments are made as approved by the BPU or FERC. The average depreciation rate stated as a percentage of original cost of depreciable property was as follows: 2022 2021 2020 Avg Rate Avg Rate Avg Rate Electric Transmission 2.18 % 2.29 % 2.41 % Electric Distribution 2.56 % 2.56 % 2.55 % Gas Distribution 1.93 % 1.84 % 1.84 % PSEG calculates depreciation on its nuclear generation-related assets under the straight-line method based on the assets’ estimated useful lives of approximately 60 years to 80 years. Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized During Construction (IDC) AFUDC represents the cost of debt and equity funds used to finance the construction of new utility assets at PSE&G. IDC represents the cost of debt used to finance construction at PSEG’s other subsidiaries. The amount of AFUDC or IDC capitalized as Property, Plant and Equipment is included as a reduction of interest charges or other income for the equity portion. The amounts and average rates used to calculate AFUDC or IDC for the years ended December 31, 2022, 2021 and 2020 were as follows: AFUDC/IDC Capitalized 2022 2021 2020 Millions Avg Rate Millions Avg Rate Millions Avg Rate PSE&G $ 84 7.39 % $ 93 7.37 % $ 112 7.86 % Other $ 4 2.24 % $ 9 4.90 % $ 10 4.60 % Income Taxes PSEG and its subsidiaries file a consolidated federal income tax return and income taxes are allocated to PSEG’s subsidiaries based on the taxable income or loss of each subsidiary on a separate return basis in accordance with a tax-sharing agreement between PSEG and each of its affiliated subsidiaries. Allocations between PSEG and its subsidiaries are recorded through intercompany accounts. Investment tax credits (ITC) deferred in prior years are being amortized over the useful lives of the related property. Uncertain income tax positions are accounted for using a benefit recognition model with a two-step approach, a more-likely-than-not recognition criterion and a measurement attribute that measures the position as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. If it is not more-likely-than-not that the benefit will be sustained on its technical merits, no benefit will be recorded. Uncertain tax positions that relate only to timing of when an item is included on a tax return are considered to have met the recognition threshold. See Note 22. Income Taxes for further discussion. Impairment of Long-Lived Assets Management evaluates long-lived assets for impairment whenever events or changes in circumstances, such as significant adverse changes in regulation, business climate, counterparty credit worthiness or market conditions, including prolonged periods of adverse commodity and capacity prices or a current expectation that a long-lived asset will be sold or disposed of significantly before the end of its previously estimated useful life, could potentially indicate an asset’s or asset group’s carrying amount may not be recoverable. In such an event, an undiscounted cash flow analysis is performed to determine if an impairment exists. When a long-lived asset’s or asset group’s carrying amount exceeds the associated undiscounted estimated future cash flows, the asset/asset group is considered impaired to the extent that its fair value is less than its carrying amount. An impairment would result in a reduction of the value of the long-lived asset/asset group through a non-cash charge to earnings. For PSEG, cash flows for long-lived assets and asset groups are determined at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The cash flows from the nuclear generation units are evaluated at the portfolio level. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for more information on impairment assessments performed on PSEG’s long-lived assets. Accounts Receivable—Allowance for Credit Losses PSE&G’s accounts receivable, including unbilled revenues, are 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 coronavirus pandemic on the outstanding balances as of December 31, 2022. PSE&G’s electric bad debt expense is recovered through the Societal Benefits Clause (SBC) mechanism and incremental gas bad debt has been deferred for future recovery through the coronavirus (COVID-19) Regulatory Asset. See Note 3. Revenues and Note 7. Regulatory Assets and Liabilities. Accounts receivable are charged off in the period in which the receivable is deemed uncollectible. Recoveries of accounts receivable are recorded when it is known they will be received. Materials and Supplies and Fuel PSEG and PSE&G’s materials and supplies are carried at average cost and charged to inventory when purchased and expensed or capitalized to Property, Plant and Equipment, as appropriate, when installed or used. Fuel inventory at PSEG is valued at the lower of average cost or market and includes stored natural gas and propane used to generate power and to satisfy obligations under PSEG Power’s gas supply contracts with PSE&G. The costs of fuel, including initial transportation costs, are included in inventory when purchased and charged to Energy Costs when used or sold. The cost of nuclear fuel is capitalized within Property, Plant and Equipment and amortized to fuel expense using the units-of-production method. Property, Plant and Equipment PSE&G’s additions to and replacements of existing property, plant and equipment are capitalized at cost. The cost of maintenance, repair and replacement of minor items of property is charged to expense as incurred. At the time units of depreciable property are retired or otherwise disposed of, the original cost, adjusted for net salvage value, is charged to accumulated depreciation. PSEG capitalizes costs related to its generating assets, including those related to its jointly-owned facilities that increase the capacity, improve or extend the life of an existing asset; represent a newly acquired or constructed asset; or represent the replacement of a retired asset. The cost of maintenance, repair and replacement of minor items of property is charged to appropriate expense accounts as incurred. Environmental costs are capitalized if the costs mitigate or prevent future environmental contamination or if the costs improve existing assets’ environmental safety or efficiency. All other environmental expenditures are expensed as incurred. PSEG also capitalizes spare parts for its generating assets that meet specific criteria. Capitalized spare parts are depreciated over the remaining lives of their associated assets. Leases PSEG and its subsidiaries, when acting as lessee or lessor, determine if an arrangement is a lease at inception. PSEG assesses contracts to determine if the arrangement conveys (i) the right to control the use of the identified property, (ii) the right to obtain substantially all of the economic benefits from the use of the property, and (iii) the right to direct the use of the property. PSEG and its subsidiaries are neither the lessee nor the lessor in any material leases that are not classified as operating leases. Lessee —Operating Lease Right-of-Use Assets represent the right to use an underlying asset for the lease term and Operating Lease Liabilities represent the obligation to make lease payments arising from the lease. Operating Lease Right-of-Use Assets and Operating Lease Liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The current portion of Operating Lease Liabilities is included in Other Current Liabilities. Operating Lease Right-of-Use Assets and noncurrent Operating Lease Liabilities are included as separate captions in Noncurrent Assets and Noncurrent Liabilities, respectively, on the Consolidated Balance Sheets of PSEG and PSE&G. PSEG and its subsidiaries do not recognize Operating Lease Right-of-Use Assets and Operating Lease Liabilities for leases where the term is twelve months or less. PSEG and its subsidiaries recognize the lease payments on a straight-line basis over the term of the leases and variable lease payments in the period in which the obligations for those payments are incurred. As lessee, most of the operating leases of PSEG and its subsidiaries do not provide an implicit rate; therefore, incremental borrowing rates are used based on the information available at commencement date in determining the present value of lease payments. The implicit rate is used when readily determinable. PSE&G’s incremental borrowing rates are based on secured borrowing rates. PSEG’s incremental borrowing rates are generally unsecured rates. Having calculated simulated secured rates for each of PSEG and PSEG Power, it was determined that the difference between the unsecured borrowing rates and the simulated secured rates had an immaterial effect on their recorded Operating Lease Right-of-Use Assets and Operating Lease Liabilities. Services, PSEG LI and other subsidiaries of PSEG that do not borrow funds or issue debt may enter into leases. Since these companies do not have credit ratings and related incremental borrowing rates, PSEG has determined that it is appropriate for these companies to use the incremental borrowing rate of PSEG, the parent company. Lease terms may include options to extend or terminate the lease when it is reasonably certain that such options will be exercised. PSEG and its subsidiaries have lease agreements with lease and non-lease components. For real estate, equipment and vehicle leases, the lease and non-lease components are accounted for as a single lease component. Lessor —Property subject to operating leases, where PSEG or one of its subsidiaries is the lessor, is included in Property, Plant and Equipment and rental income from these leases is included in Operating Revenues. PSEG and its subsidiaries have lease agreements with lease and non-lease components, which are primarily related to domestic energy generation, real estate assets and land. PSEG and subsidiaries account for the lease and non-lease components as a single lease component. See Note 8. Leases for detailed information on leases. Energy Holdings is the lessor in leveraged leases. Leveraged lease accounting guidance is grandfathered for existing leveraged leases. Energy Holdings’ leveraged leases are accounted for in Operating Revenues and in Noncurrent Long-Term Investments. If modified after January 1, 2019, those leveraged leases will be accounted for as operating or financing leases. See Note 9. Long-Term Investments and Note 10. Financing Receivables. Trust Investments These securities comprise the Nuclear Decommissioning Trust (NDT) Fund, a master independent external trust account maintained to provide for the costs of decommissioning upon termination of operations of PSEG’s nuclear facilities and amounts that are deposited to fund a Rabbi Trust which was established to meet the obligations related to non-qualified pension plans and deferred compensation plans. Unrealized gains and losses on equity security investments are recorded in Net Income. The debt securities are classified as available-for-sale with the unrealized gains and losses recorded as a component of Accumulated Other Comprehensive Income (Loss). Realized gains and losses on both equity and available-for-sale debt security investments are recorded in earnings and are included with the unrealized gains and losses on equity securities in Net Gains (Losses) on Trust Investments. Other-than-temporary impairments on NDT and Rabbi Trust debt securities are also included in Net Gains (Losses) on Trust Investments. See Note 11. Trust Investments for further discussion. Pension and Other Postretirement Benefits (OPEB) Plans The market-related value of plan assets held for the qualified pension and OPEB plans is equal to the fair value of those assets as of year-end. Fair value is determined using quoted market prices and independent pricing services based upon the security type as reported by the trustee at the measurement date (December 31) as well as investments in unlisted real estate which are valued via third-party appraisals. PSEG recognizes a long-term receivable primarily related to future funding by LIPA of Servco’s recognized pension and OPEB liabilities. This receivable is presented separately on the Consolidated Balance Sheet of PSEG as a noncurrent asset. Pursuant to the OSA, Servco records expense for contributions to its pension plan trusts and for OPEB payments made to retirees. See Note 14. Pension and Other Postretirement Benefits (OPEB) and Savings Plans for further discussion. Basis Adjustment PSE&G has recorded a Basis Adjustment in its Consolidated Balance Sheet related to the generation assets that were transferred from PSE&G to PSEG Power in August 2000 at the price specified by the BPU. Because the transfer was between affiliates, the transaction was recorded at the net book value of the assets and liabilities rather than the transfer price. The difference between the total transfer price and the net book value of the generation-related assets and liabilities, $986 million, net of tax, was recorded as a Basis Adjustment on PSE&G’s and PSEG Power’s Consolidated Balance Sheets. The $986 million is an addition to PSE&G’s Common Stockholder’s Equity and a reduction of PSEG Power’s Member’s Equity. These amounts are eliminated on PSEG’s consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Public Service Electric and Gas Company
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies	Organization, Basis of Presentation and Summary of 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 nuclear generation business. PSEG’s principal operating subsidiaries 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 (EE) 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 legacy 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 May 2021, PSEG Power Ventures LLC (Power Ventures), a direct wholly owned subsidiary of PSEG Power, entered into a purchase agreement with Quattro Solar, LLC, an affiliate of LS Power, relating to the sale by Power Ventures of 100% of its ownership interest in PSEG Solar Source LLC (Solar Source) including its related assets and liabilities. The transaction closed in June 2021. 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 Annual Reports on Form 10-K and in accordance with accounting guidance generally accepted in the United States (GAAP). Significant Accounting Policies Principles of Consolidation Each company consolidates those entities in which it has a controlling interest or is the primary beneficiary. See Note 5. Variable Interest Entities. Entities over which the companies exhibit significant influence, but do not have a controlling interest and/or are not the primary beneficiary, are accounted for under the equity method of accounting. For investments in which significant influence does not exist and the investor is not the primary beneficiary, the cost method of accounting is applied. All significant intercompany accounts and transactions are eliminated in consolidation. PSE&G and PSEG Power also have undivided interests in certain jointly-owned facilities, with each responsible for paying its respective ownership share of construction costs, fuel purchases and operating expenses. PSE&G and PSEG Power consolidate their portion of any revenues and expenses related to their respective jointly-owned facilities in the appropriate revenue and expense categories. Accounting for the Effects of Regulation In accordance with accounting guidance for rate-regulated entities, PSE&G’s financial statements reflect the economic effects of regulation. PSE&G defers the recognition of costs (a Regulatory Asset) or records the recognition of obligations (a Regulatory Liability) if it is probable that, through the rate-making process, there will be a corresponding increase or decrease in future rates. Accordingly, PSE&G has deferred certain costs and recoveries, which are being amortized over various future periods. To the extent that collection of any such costs or payment of liabilities becomes no longer probable as a result of changes in regulation, the associated Regulatory Asset or Liability is charged or credited to income. Management believes that PSE&G’s T&D businesses continue to meet the accounting requirements for rate-regulated entities. For additional information, see Note 7. Regulatory Assets and Liabilities. Cash, Cash Equivalents and Restricted Cash The following provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the years ended December 31, 2021 and 2022. Restricted cash consists primarily of deposits received related to a construction project at PSE&G. PSE&G PSEG Power & 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 December 31, 2022 Cash and Cash Equivalents $ 220 $ 245 $ 465 Restricted Cash in Other Current Assets 27 — 27 Restricted Cash in Other Noncurrent Assets 19 — 19 Cash, Cash Equivalents and Restricted Cash $ 266 $ 245 $ 511 (A) Includes amounts applicable to PSEG Power, Energy Holdings, Services and PSEG (parent company). Derivative Instruments Each company uses derivative instruments to manage risk pursuant to its business plans and prudent practices. 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, fossil fuels 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. Changes in the fair market value of the derivative contracts are recorded in earnings. Determining whether a contract qualifies as a derivative requires that management exercise significant judgment, including assessing the contract’s market liquidity. PSEG has determined that contracts to purchase and sell certain products do not meet the definition of a derivative under the current authoritative guidance since they do not provide for net settlement, or the markets are not sufficiently liquid to conclude that physical forward contracts are readily convertible to cash. Under current authoritative guidance, all derivatives are recognized on the balance sheet at their fair value, except for derivatives that are designated as normal purchases and normal sales (NPNS). Further, derivatives that qualify for hedge accounting can be designated as fair value or cash flow hedges. For fair value hedges, changes in fair values for both the derivative and the underlying hedged exposure are recognized in earnings each period. Certain offsetting derivative assets and liabilities 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, these positions are offset on the Consolidated Balance Sheets of PSEG. For cash flow hedges, the gain or loss on a derivative instrument designated and qualifying as a cash flow hedge is deferred in Accumulated Other Comprehensive Income (Loss) until earnings are affected by the variability of cash flows of the hedged transaction. For derivative contracts that do not qualify or are not designated as cash flow or fair value hedges or as NPNS, changes in fair value are recorded in current period earnings. PSEG does not currently elect fair value or cash flow hedge accounting on its commodity derivative positions. Contracts that qualify for, and are designated, as NPNS are accounted for upon settlement. Contracts which qualify for NPNS are contracts for which physical delivery is probable, they will not be financially settled, and the quantities under contract are expected to be used or sold in the normal course of business over a reasonable period of time. If a contract no longer meets the requirements for NPNS designation, the changes in fair value since inception, and ongoing changes, of the contract and similar contracts in that portfolio, are recorded in current period earnings. For additional information regarding derivative financial instruments, see Note 18. Financial Risk Management Activities. Revenue Recognition PSE&G’s regulated electric and gas revenues are recorded primarily based on services rendered to customers. PSE&G records unbilled revenues for the estimated amount customers will be billed for services rendered from the time meters were last read to the end of the respective accounting period. The unbilled revenue is estimated each month based on usage per day, the number of unbilled days in the period, estimated seasonal loads based upon the time of year and the variance of actual degree-days and temperature-humidity-index hours of the unbilled period from expected norms. Regulated revenues from the transmission of electricity are recognized as services are provided based on a FERC-approved annual formula rate mechanism. This mechanism provides for an annual filing of estimated revenue requirement with rates effective January 1 of each year. After completion of the annual period ending December 31, PSE&G files a true-up whereby it compares its actual revenue requirement to the original estimate to determine any over or under collection of revenue. PSE&G records the estimated financial statement impact of the difference between the actual and the filed revenue requirement as a refund or deferral for future recovery when such amounts are probable and can be reasonably estimated in accordance with accounting guidance for rate-regulated entities. The majority of PSEG Power’s revenues relate to bilateral contracts, which are accounted for on the accrual basis as the energy is delivered. PSEG Power’s revenue also includes changes in the value of energy derivative contracts that are not designated as NPNS. See Note 18. Financial Risk Management Activities for further discussion. As of December 31, 2022, PSEG Power owns generation within PJM Interconnection, L.L.C. (PJM), which facilitates the dispatch of energy and energy-related products. Prior to the sale of the fossil generation assets, PSEG Power also had significant sales in the New York Independent System Operator (NYISO) and the New England Independent System Operator (ISO-NE) regions. PSEG generally reports electricity sales and purchases conducted with the Independent System Operators (ISOs) at PSEG Power on a net hourly basis in either Revenues or Energy Costs in its Consolidated Statement of Operations, the classification of which depends on the net hourly activity. Capacity revenue and expense are also reported net based on PSEG Power’s monthly net sale or purchase position in the individual ISOs. PSEG LI is the primary beneficiary of Long Island Electric Utility Servco, LLC (Servco). For transactions in which Servco acts as principal, Servco records revenues and the related pass-through expenditures separately in Operating Revenues and Operation and Maintenance (O&M) Expense, respectively. See Note 5. Variable Interest Entities for further information. For additional information regarding Revenues, see Note 3. Revenues. Depreciation and Amortization (D&A) PSE&G calculates depreciation under the straight-line method based on estimated average remaining lives of the several classes of property. These estimates are reviewed on a periodic basis and necessary adjustments are made as approved by the BPU or FERC. The average depreciation rate stated as a percentage of original cost of depreciable property was as follows: 2022 2021 2020 Avg Rate Avg Rate Avg Rate Electric Transmission 2.18 % 2.29 % 2.41 % Electric Distribution 2.56 % 2.56 % 2.55 % Gas Distribution 1.93 % 1.84 % 1.84 % PSEG calculates depreciation on its nuclear generation-related assets under the straight-line method based on the assets’ estimated useful lives of approximately 60 years to 80 years. Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized During Construction (IDC) AFUDC represents the cost of debt and equity funds used to finance the construction of new utility assets at PSE&G. IDC represents the cost of debt used to finance construction at PSEG’s other subsidiaries. The amount of AFUDC or IDC capitalized as Property, Plant and Equipment is included as a reduction of interest charges or other income for the equity portion. The amounts and average rates used to calculate AFUDC or IDC for the years ended December 31, 2022, 2021 and 2020 were as follows: AFUDC/IDC Capitalized 2022 2021 2020 Millions Avg Rate Millions Avg Rate Millions Avg Rate PSE&G $ 84 7.39 % $ 93 7.37 % $ 112 7.86 % Other $ 4 2.24 % $ 9 4.90 % $ 10 4.60 % Income Taxes PSEG and its subsidiaries file a consolidated federal income tax return and income taxes are allocated to PSEG’s subsidiaries based on the taxable income or loss of each subsidiary on a separate return basis in accordance with a tax-sharing agreement between PSEG and each of its affiliated subsidiaries. Allocations between PSEG and its subsidiaries are recorded through intercompany accounts. Investment tax credits (ITC) deferred in prior years are being amortized over the useful lives of the related property. Uncertain income tax positions are accounted for using a benefit recognition model with a two-step approach, a more-likely-than-not recognition criterion and a measurement attribute that measures the position as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. If it is not more-likely-than-not that the benefit will be sustained on its technical merits, no benefit will be recorded. Uncertain tax positions that relate only to timing of when an item is included on a tax return are considered to have met the recognition threshold. See Note 22. Income Taxes for further discussion. Impairment of Long-Lived Assets Management evaluates long-lived assets for impairment whenever events or changes in circumstances, such as significant adverse changes in regulation, business climate, counterparty credit worthiness or market conditions, including prolonged periods of adverse commodity and capacity prices or a current expectation that a long-lived asset will be sold or disposed of significantly before the end of its previously estimated useful life, could potentially indicate an asset’s or asset group’s carrying amount may not be recoverable. In such an event, an undiscounted cash flow analysis is performed to determine if an impairment exists. When a long-lived asset’s or asset group’s carrying amount exceeds the associated undiscounted estimated future cash flows, the asset/asset group is considered impaired to the extent that its fair value is less than its carrying amount. An impairment would result in a reduction of the value of the long-lived asset/asset group through a non-cash charge to earnings. For PSEG, cash flows for long-lived assets and asset groups are determined at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The cash flows from the nuclear generation units are evaluated at the portfolio level. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for more information on impairment assessments performed on PSEG’s long-lived assets. Accounts Receivable—Allowance for Credit Losses PSE&G’s accounts receivable, including unbilled revenues, are 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 coronavirus pandemic on the outstanding balances as of December 31, 2022. PSE&G’s electric bad debt expense is recovered through the Societal Benefits Clause (SBC) mechanism and incremental gas bad debt has been deferred for future recovery through the coronavirus (COVID-19) Regulatory Asset. See Note 3. Revenues and Note 7. Regulatory Assets and Liabilities. Accounts receivable are charged off in the period in which the receivable is deemed uncollectible. Recoveries of accounts receivable are recorded when it is known they will be received. Materials and Supplies and Fuel PSEG and PSE&G’s materials and supplies are carried at average cost and charged to inventory when purchased and expensed or capitalized to Property, Plant and Equipment, as appropriate, when installed or used. Fuel inventory at PSEG is valued at the lower of average cost or market and includes stored natural gas and propane used to generate power and to satisfy obligations under PSEG Power’s gas supply contracts with PSE&G. The costs of fuel, including initial transportation costs, are included in inventory when purchased and charged to Energy Costs when used or sold. The cost of nuclear fuel is capitalized within Property, Plant and Equipment and amortized to fuel expense using the units-of-production method. Property, Plant and Equipment PSE&G’s additions to and replacements of existing property, plant and equipment are capitalized at cost. The cost of maintenance, repair and replacement of minor items of property is charged to expense as incurred. At the time units of depreciable property are retired or otherwise disposed of, the original cost, adjusted for net salvage value, is charged to accumulated depreciation. PSEG capitalizes costs related to its generating assets, including those related to its jointly-owned facilities that increase the capacity, improve or extend the life of an existing asset; represent a newly acquired or constructed asset; or represent the replacement of a retired asset. The cost of maintenance, repair and replacement of minor items of property is charged to appropriate expense accounts as incurred. Environmental costs are capitalized if the costs mitigate or prevent future environmental contamination or if the costs improve existing assets’ environmental safety or efficiency. All other environmental expenditures are expensed as incurred. PSEG also capitalizes spare parts for its generating assets that meet specific criteria. Capitalized spare parts are depreciated over the remaining lives of their associated assets. Leases PSEG and its subsidiaries, when acting as lessee or lessor, determine if an arrangement is a lease at inception. PSEG assesses contracts to determine if the arrangement conveys (i) the right to control the use of the identified property, (ii) the right to obtain substantially all of the economic benefits from the use of the property, and (iii) the right to direct the use of the property. PSEG and its subsidiaries are neither the lessee nor the lessor in any material leases that are not classified as operating leases. Lessee —Operating Lease Right-of-Use Assets represent the right to use an underlying asset for the lease term and Operating Lease Liabilities represent the obligation to make lease payments arising from the lease. Operating Lease Right-of-Use Assets and Operating Lease Liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The current portion of Operating Lease Liabilities is included in Other Current Liabilities. Operating Lease Right-of-Use Assets and noncurrent Operating Lease Liabilities are included as separate captions in Noncurrent Assets and Noncurrent Liabilities, respectively, on the Consolidated Balance Sheets of PSEG and PSE&G. PSEG and its subsidiaries do not recognize Operating Lease Right-of-Use Assets and Operating Lease Liabilities for leases where the term is twelve months or less. PSEG and its subsidiaries recognize the lease payments on a straight-line basis over the term of the leases and variable lease payments in the period in which the obligations for those payments are incurred. As lessee, most of the operating leases of PSEG and its subsidiaries do not provide an implicit rate; therefore, incremental borrowing rates are used based on the information available at commencement date in determining the present value of lease payments. The implicit rate is used when readily determinable. PSE&G’s incremental borrowing rates are based on secured borrowing rates. PSEG’s incremental borrowing rates are generally unsecured rates. Having calculated simulated secured rates for each of PSEG and PSEG Power, it was determined that the difference between the unsecured borrowing rates and the simulated secured rates had an immaterial effect on their recorded Operating Lease Right-of-Use Assets and Operating Lease Liabilities. Services, PSEG LI and other subsidiaries of PSEG that do not borrow funds or issue debt may enter into leases. Since these companies do not have credit ratings and related incremental borrowing rates, PSEG has determined that it is appropriate for these companies to use the incremental borrowing rate of PSEG, the parent company. Lease terms may include options to extend or terminate the lease when it is reasonably certain that such options will be exercised. PSEG and its subsidiaries have lease agreements with lease and non-lease components. For real estate, equipment and vehicle leases, the lease and non-lease components are accounted for as a single lease component. Lessor —Property subject to operating leases, where PSEG or one of its subsidiaries is the lessor, is included in Property, Plant and Equipment and rental income from these leases is included in Operating Revenues. PSEG and its subsidiaries have lease agreements with lease and non-lease components, which are primarily related to domestic energy generation, real estate assets and land. PSEG and subsidiaries account for the lease and non-lease components as a single lease component. See Note 8. Leases for detailed information on leases. Energy Holdings is the lessor in leveraged leases. Leveraged lease accounting guidance is grandfathered for existing leveraged leases. Energy Holdings’ leveraged leases are accounted for in Operating Revenues and in Noncurrent Long-Term Investments. If modified after January 1, 2019, those leveraged leases will be accounted for as operating or financing leases. See Note 9. Long-Term Investments and Note 10. Financing Receivables. Trust Investments These securities comprise the Nuclear Decommissioning Trust (NDT) Fund, a master independent external trust account maintained to provide for the costs of decommissioning upon termination of operations of PSEG’s nuclear facilities and amounts that are deposited to fund a Rabbi Trust which was established to meet the obligations related to non-qualified pension plans and deferred compensation plans. Unrealized gains and losses on equity security investments are recorded in Net Income. The debt securities are classified as available-for-sale with the unrealized gains and losses recorded as a component of Accumulated Other Comprehensive Income (Loss). Realized gains and losses on both equity and available-for-sale debt security investments are recorded in earnings and are included with the unrealized gains and losses on equity securities in Net Gains (Losses) on Trust Investments. Other-than-temporary impairments on NDT and Rabbi Trust debt securities are also included in Net Gains (Losses) on Trust Investments. See Note 11. Trust Investments for further discussion. Pension and Other Postretirement Benefits (OPEB) Plans The market-related value of plan assets held for the qualified pension and OPEB plans is equal to the fair value of those assets as of year-end. Fair value is determined using quoted market prices and independent pricing services based upon the security type as reported by the trustee at the measurement date (December 31) as well as investments in unlisted real estate which are valued via third-party appraisals. PSEG recognizes a long-term receivable primarily related to future funding by LIPA of Servco’s recognized pension and OPEB liabilities. This receivable is presented separately on the Consolidated Balance Sheet of PSEG as a noncurrent asset. Pursuant to the OSA, Servco records expense for contributions to its pension plan trusts and for OPEB payments made to retirees. See Note 14. Pension and Other Postretirement Benefits (OPEB) and Savings Plans for further discussion. Basis Adjustment PSE&G has recorded a Basis Adjustment in its Consolidated Balance Sheet related to the generation assets that were transferred from PSE&G to PSEG Power in August 2000 at the price specified by the BPU. Because the transfer was between affiliates, the transaction was recorded at the net book value of the assets and liabilities rather than the transfer price. The difference between the total transfer price and the net book value of the generation-related assets and liabilities, $986 million, net of tax, was recorded as a Basis Adjustment on PSE&G’s and PSEG Power’s Consolidated Balance Sheets. The $986 million is an addition to PSE&G’s Common Stockholder’s Equity and a reduction of PSEG Power’s Member’s Equity. These amounts are eliminated on PSEG’s consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Recent Accounting Standards

Recent Accounting Standards	12 Months Ended
	Dec. 31, 2022
Recent Accounting Standards [Text Block]	Recent Accounting Standards New Standards Adopted in 2022 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. Reference Rate Reform—Deferral of the Sunset Date—ASU 2022-06 This accounting standard defers the sunset date for applying the relief in the reference rate reform guidance to December 31, 2024 from December 31, 2022. It addresses entities’ concerns that without the deferral the relief may not cover the period when a significant number of modifications could take place, given the decision by the United Kingdom’s Financial Conduct Authority and the administrator of the London Interbank Offered Rate (LIBOR) to publish overnight USD LIBOR settings through June 30, 2023 rather than December 31, 2021. The standard is effective upon its issuance in December 2022 and PSEG adopted this standard upon issuance. 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 December 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 adopted this standard prospectively on January 1, 2023. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. 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 adopted this standard prospectively on January 1, 2023. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. 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 adopted this standard prospectively on January 1, 2023. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. Fair Value Measurement: Equity Securities Subject to Contractual Sale Restrictions—ASU 2022-03 This accounting standard improves financial reporting for investors and other financial statement users by increasing comparability of financial information across reporting entities that have investments in equity securities measured at fair value that are subject to contractual restrictions preventing the sale of those securities. It clarifies that a contractual sale restriction should not be considered in measuring fair value. It also requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. The standard is effective for fiscal years beginning after December 15, 2023 and early adoption is permitted. Amendments in this standard will be applied prospectively. PSEG is currently analyzing the impact of this standard on its financial statements. Supplier Finance Programs—ASU 2022-04 This accounting standard enhances the transparency about the use of supplier finance programs for investors and other allocators of capital. It requires the buyer in a supplier finance program to disclose information about the key terms of the program, outstanding confirmed amounts as of the end of the period, a rollforward of such amounts during each annual period, and a description of where in the financial statements outstanding amounts are presented. The standard is effective for fiscal years beginning after December 15, 2022, except for the disclosure of rollforward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. Amendments in this standard will be applied retrospectively to each period in which a balance sheet is presented, except for the amendment on rollforward information, which will be applied prospectively. PSEG adopted this standard retrospectively on January 1, 2023, except for the disclosure of rollforward information. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G .
Public Service Electric and Gas Company
Recent Accounting Standards [Text Block]	Recent Accounting Standards New Standards Adopted in 2022 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. Reference Rate Reform—Deferral of the Sunset Date—ASU 2022-06 This accounting standard defers the sunset date for applying the relief in the reference rate reform guidance to December 31, 2024 from December 31, 2022. It addresses entities’ concerns that without the deferral the relief may not cover the period when a significant number of modifications could take place, given the decision by the United Kingdom’s Financial Conduct Authority and the administrator of the London Interbank Offered Rate (LIBOR) to publish overnight USD LIBOR settings through June 30, 2023 rather than December 31, 2021. The standard is effective upon its issuance in December 2022 and PSEG adopted this standard upon issuance. 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 December 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 adopted this standard prospectively on January 1, 2023. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. 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 adopted this standard prospectively on January 1, 2023. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. 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 adopted this standard prospectively on January 1, 2023. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G. Fair Value Measurement: Equity Securities Subject to Contractual Sale Restrictions—ASU 2022-03 This accounting standard improves financial reporting for investors and other financial statement users by increasing comparability of financial information across reporting entities that have investments in equity securities measured at fair value that are subject to contractual restrictions preventing the sale of those securities. It clarifies that a contractual sale restriction should not be considered in measuring fair value. It also requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. The standard is effective for fiscal years beginning after December 15, 2023 and early adoption is permitted. Amendments in this standard will be applied prospectively. PSEG is currently analyzing the impact of this standard on its financial statements. Supplier Finance Programs—ASU 2022-04 This accounting standard enhances the transparency about the use of supplier finance programs for investors and other allocators of capital. It requires the buyer in a supplier finance program to disclose information about the key terms of the program, outstanding confirmed amounts as of the end of the period, a rollforward of such amounts during each annual period, and a description of where in the financial statements outstanding amounts are presented. The standard is effective for fiscal years beginning after December 15, 2022, except for the disclosure of rollforward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. Amendments in this standard will be applied retrospectively to each period in which a balance sheet is presented, except for the amendment on rollforward information, which will be applied prospectively. PSEG adopted this standard retrospectively on January 1, 2023, except for the disclosure of rollforward information. Adoption of this standard did not have an impact on the financial statements of PSEG and PSE&G .

Revenues

Revenues	12 Months Ended
	Dec. 31, 2022
Revenues	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. PSEG Power & Other Revenues from Contracts with Customers Electricity and Related Products —PSEG Power 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. In addition, wholesale load contracts have been executed in the different ISO regions for the bundled supply of energy, capacity, renewable energy credits (RECs) 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 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 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. In December 2022, PJM called its first ISO-wide Maximum Generation Emergency Action, which triggered a Performance Assessment Interval (PAI) event. During the PAI, PSEG Power’s Salem 2 nuclear plant incurred penalties due to an unplanned outage during the second day of the event. Our remaining nuclear plants earned bonus payments during the entire event. The estimated net impact of Salem 2’s penalties and bonuses earned by the other units was not material to PSEG’s financial results. 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. 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 is primarily the delivery of gas which is satisfied over time. Revenue is recognized as gas is delivered or pipeline capacity is released. PSEG LI Contract —PSEG LI has a contract with LIPA which generates revenues. PSEG LI’s subsidiary, 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. These performance obligations were transferred as part of the sale of Solar Source. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments. 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 18. 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. These performance obligations were transferred as part of the sale of Solar Source. 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 PSEG Power & Other (A) Eliminations Consolidated Millions Year Ended December 31, 2022 Revenues from Contracts with Customers Electric Distribution $ 3,503 $ — $ — $ 3,503 Gas Distribution 2,357 — (1) 2,356 Transmission 1,589 — — 1,589 Electricity and Related Product Sales PJM Third-Party Sales — 2,152 — 2,152 Sales to Affiliates — 151 (151) — NYISO — 88 — 88 ISO-NE — 96 — 96 Gas Sales Third-Party Sales — 458 — 458 Sales to Affiliates — 1,243 (1,243) — Other Revenues from Contracts with Customers (B) 390 605 (6) 989 Total Revenues from Contracts with Customers 7,839 4,793 (1,401) 11,231 Revenues Unrelated to Contracts with Customers (C) 96 (1,527) — (1,431) Total Operating Revenues $ 7,935 $ 3,266 $ (1,401) $ 9,800 PSE&G PSEG Power & Other (A) Eliminations Consolidated Millions Year Ended December 31, 2021 Revenues from Contracts with Customers Electric Distribution $ 3,279 $ — $ — $ 3,279 Gas Distribution 1,875 — (13) 1,862 Transmission 1,611 — — 1,611 Electricity and Related Product Sales PJM Third-Party Sales — 2,003 — 2,003 Sales to Affiliates — 265 (265) — NYISO — 247 — 247 ISO-NE — 172 — 172 Gas Sales Third-Party Sales — 181 — 181 Sales to Affiliates — 886 (886) — Other Revenues from Contracts with Customers (B) 343 620 (3) 960 Total Revenues from Contracts with Customers 7,108 4,374 (1,167) 10,315 Revenues Unrelated to Contracts with Customers (C) 14 (607) — (593) Total Operating Revenues $ 7,122 $ 3,767 $ (1,167) $ 9,722 PSE&G PSEG Power & Other (A) Eliminations Consolidated Millions Year Ended December 31, 2020 Revenues from Contracts with Customers Electric Distribution $ 3,130 $ — $ — $ 3,130 Gas Distribution 1,646 — (12) 1,634 Transmission 1,485 — — 1,485 Electricity and Related Product Sales PJM Third-Party Sales — 1,551 — 1,551 Sales to Affiliates — 447 (447) — NYISO — 124 — 124 ISO-NE — 126 — 126 Gas Sales Third-Party Sales — 83 — 83 Sales to Affiliates — 771 (771) — Other Revenues from Contracts with Customers (B) 338 632 (4) 966 Total Revenues from Contracts with Customers 6,599 3,734 (1,234) 9,099 Revenues Unrelated to Contracts with Customers (C) 9 495 — 504 Total Operating Revenues $ 6,608 $ 4,229 $ (1,234) $ 9,603 (A) Includes revenues applicable to PSEG Power, PSEG LI and Energy Holdings. (B) Includes primarily revenues from appliance repair services and the sale of SRECs at auction at PSE&G. PSEG Power & Other includes PSEG Power’s energy management fee with LIPA and PSEG LI’s OSA with LIPA. PSEG Power & Other also includes PSEG Power’s solar power projects in 2021 and 2020. (C) Includes primarily alternative revenues at PSE&G principally from the CIP program in 2022 and derivative contracts and lease contracts at PSEG Power & Other. For the years ended December 31, 2021 and 2020, PSEG Power & Other includes losses of $9 million and $26 million, respectively, related to Energy Holdings’ investments in leases. For additional information, see Note 9. Long-Term Investments. 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 December 31, 2022 and 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 December 31, 2022 and 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 on 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 COVID-19 pandemic on the outstanding balances as of December 31, 2022. PSE&G’s electric bad debt expense is recoverable through its SBC mechanism. As of December 31, 2022, PSE&G had a deferred balance of $145 million from electric bad debts recorded as a Regulatory Asset. In addition, as of December 31, 2022, PSE&G had deferred incremental gas bad debt expense of $68 million recorded as a Regulatory Asset for future regulatory recovery due to the impact of the coronavirus pandemic. See Note 7. Regulatory Assets and Liabilities for additional information. The following provides a reconciliation of PSE&G’s allowance for credit losses for the years ended December 31, 2022 and 2021. Years Ended December 31, 2022 2021 Millions Balance at Beginning of Year $ 337 $ 206 Utility Customer and Other Accounts Provision 114 195 Write-offs, net of Recoveries of $46 million and $17 million for 2022 and 2021, respectively (112) (64) Balance at End of Year $ 339 $ 337 PSEG Power & Other PSEG Power generally collects consideration upon satisfaction of performance obligations, and therefore, PSEG Power had no material contract balances as of December 31, 2022 and 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 Consolidated Balance Sheets. PSEG Power’s accounts receivable consist mainly of revenues from energy and ancillary services sold directly to ISOs, wholesale load contracts and capacity sales which are executed in the different ISO regions, 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 December 31, 2022 and 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 December 31, 2022 and 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: 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 was 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 Megawatt (MW)-Day MW Cleared June 2022 to May 2023 $97 3,300 June 2023 to May 2024 $49 3,700 Capacity transactions with the PJM Regional Transmission Organization are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position. Bilateral capacity contracts —Capacity obligations pursuant to contract terms through 2028 are anticipated to result in revenues totaling $36 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 2023 is approximately $42 million and is updated each year based on the change in the Consumer Price Index (CPI).
Public Service Electric and Gas Company
Revenues	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. PSEG Power & Other Revenues from Contracts with Customers Electricity and Related Products —PSEG Power 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. In addition, wholesale load contracts have been executed in the different ISO regions for the bundled supply of energy, capacity, renewable energy credits (RECs) 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 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 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. In December 2022, PJM called its first ISO-wide Maximum Generation Emergency Action, which triggered a Performance Assessment Interval (PAI) event. During the PAI, PSEG Power’s Salem 2 nuclear plant incurred penalties due to an unplanned outage during the second day of the event. Our remaining nuclear plants earned bonus payments during the entire event. The estimated net impact of Salem 2’s penalties and bonuses earned by the other units was not material to PSEG’s financial results. 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. 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 is primarily the delivery of gas which is satisfied over time. Revenue is recognized as gas is delivered or pipeline capacity is released. PSEG LI Contract —PSEG LI has a contract with LIPA which generates revenues. PSEG LI’s subsidiary, 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. These performance obligations were transferred as part of the sale of Solar Source. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments. 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 18. 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. These performance obligations were transferred as part of the sale of Solar Source. 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 PSEG Power & Other (A) Eliminations Consolidated Millions Year Ended December 31, 2022 Revenues from Contracts with Customers Electric Distribution $ 3,503 $ — $ — $ 3,503 Gas Distribution 2,357 — (1) 2,356 Transmission 1,589 — — 1,589 Electricity and Related Product Sales PJM Third-Party Sales — 2,152 — 2,152 Sales to Affiliates — 151 (151) — NYISO — 88 — 88 ISO-NE — 96 — 96 Gas Sales Third-Party Sales — 458 — 458 Sales to Affiliates — 1,243 (1,243) — Other Revenues from Contracts with Customers (B) 390 605 (6) 989 Total Revenues from Contracts with Customers 7,839 4,793 (1,401) 11,231 Revenues Unrelated to Contracts with Customers (C) 96 (1,527) — (1,431) Total Operating Revenues $ 7,935 $ 3,266 $ (1,401) $ 9,800 PSE&G PSEG Power & Other (A) Eliminations Consolidated Millions Year Ended December 31, 2021 Revenues from Contracts with Customers Electric Distribution $ 3,279 $ — $ — $ 3,279 Gas Distribution 1,875 — (13) 1,862 Transmission 1,611 — — 1,611 Electricity and Related Product Sales PJM Third-Party Sales — 2,003 — 2,003 Sales to Affiliates — 265 (265) — NYISO — 247 — 247 ISO-NE — 172 — 172 Gas Sales Third-Party Sales — 181 — 181 Sales to Affiliates — 886 (886) — Other Revenues from Contracts with Customers (B) 343 620 (3) 960 Total Revenues from Contracts with Customers 7,108 4,374 (1,167) 10,315 Revenues Unrelated to Contracts with Customers (C) 14 (607) — (593) Total Operating Revenues $ 7,122 $ 3,767 $ (1,167) $ 9,722 PSE&G PSEG Power & Other (A) Eliminations Consolidated Millions Year Ended December 31, 2020 Revenues from Contracts with Customers Electric Distribution $ 3,130 $ — $ — $ 3,130 Gas Distribution 1,646 — (12) 1,634 Transmission 1,485 — — 1,485 Electricity and Related Product Sales PJM Third-Party Sales — 1,551 — 1,551 Sales to Affiliates — 447 (447) — NYISO — 124 — 124 ISO-NE — 126 — 126 Gas Sales Third-Party Sales — 83 — 83 Sales to Affiliates — 771 (771) — Other Revenues from Contracts with Customers (B) 338 632 (4) 966 Total Revenues from Contracts with Customers 6,599 3,734 (1,234) 9,099 Revenues Unrelated to Contracts with Customers (C) 9 495 — 504 Total Operating Revenues $ 6,608 $ 4,229 $ (1,234) $ 9,603 (A) Includes revenues applicable to PSEG Power, PSEG LI and Energy Holdings. (B) Includes primarily revenues from appliance repair services and the sale of SRECs at auction at PSE&G. PSEG Power & Other includes PSEG Power’s energy management fee with LIPA and PSEG LI’s OSA with LIPA. PSEG Power & Other also includes PSEG Power’s solar power projects in 2021 and 2020. (C) Includes primarily alternative revenues at PSE&G principally from the CIP program in 2022 and derivative contracts and lease contracts at PSEG Power & Other. For the years ended December 31, 2021 and 2020, PSEG Power & Other includes losses of $9 million and $26 million, respectively, related to Energy Holdings’ investments in leases. For additional information, see Note 9. Long-Term Investments. 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 December 31, 2022 and 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 December 31, 2022 and 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 on 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 COVID-19 pandemic on the outstanding balances as of December 31, 2022. PSE&G’s electric bad debt expense is recoverable through its SBC mechanism. As of December 31, 2022, PSE&G had a deferred balance of $145 million from electric bad debts recorded as a Regulatory Asset. In addition, as of December 31, 2022, PSE&G had deferred incremental gas bad debt expense of $68 million recorded as a Regulatory Asset for future regulatory recovery due to the impact of the coronavirus pandemic. See Note 7. Regulatory Assets and Liabilities for additional information. The following provides a reconciliation of PSE&G’s allowance for credit losses for the years ended December 31, 2022 and 2021. Years Ended December 31, 2022 2021 Millions Balance at Beginning of Year $ 337 $ 206 Utility Customer and Other Accounts Provision 114 195 Write-offs, net of Recoveries of $46 million and $17 million for 2022 and 2021, respectively (112) (64) Balance at End of Year $ 339 $ 337 PSEG Power & Other PSEG Power generally collects consideration upon satisfaction of performance obligations, and therefore, PSEG Power had no material contract balances as of December 31, 2022 and 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 Consolidated Balance Sheets. PSEG Power’s accounts receivable consist mainly of revenues from energy and ancillary services sold directly to ISOs, wholesale load contracts and capacity sales which are executed in the different ISO regions, 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 December 31, 2022 and 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 December 31, 2022 and 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: 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 was 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 Megawatt (MW)-Day MW Cleared June 2022 to May 2023 $97 3,300 June 2023 to May 2024 $49 3,700 Capacity transactions with the PJM Regional Transmission Organization are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position. Bilateral capacity contracts —Capacity obligations pursuant to contract terms through 2028 are anticipated to result in revenues totaling $36 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 2023 is approximately $42 million and is updated each year based on the change in the Consumer Price Index (CPI).

Early Plant Retirements Early P

Early Plant Retirements Early Plant Retirements	12 Months Ended
	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Early Plant Retirements [Text Block]	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 received ZEC revenue for approximately three years, through May 2022. That first eligibility period related to the award of ZECs from the April 2019 BPU Order has concluded. 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 prior ZEC period through May 2022 referenced above. As a result, each nuclear plant is receiving 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 ZEC period through May 2022. In May 2021, the New Jersey Division of 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. 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. In August 2022, the Inflation Reduction Act (IRA) was signed into law expanding incentives promoting carbon-free generation. The enacted legislation established the production tax credit (PTC) for electricity generation using nuclear energy set to begin in 2024 through 2032. The expected PTC rate is up to $15/MWh subject to adjustment based upon a facility’s gross receipts. The PTC rate and the gross receipts cap are subject to annual inflation adjustments. The U.S. Treasury is expected to clarify the definition of gross receipts prior to when the eligibility period begins in 2024. We are continuing to analyze the impact of the IRA on our nuclear units, including additional future guidance from the U.S. Treasury and the interactions with PTCs on expected ZEC payments. PSEG Power may take all necessary steps to cease to operate all of these plants and will incur associated costs and accounting charges in the event that the financial condition of the plants is materially adversely impacted in the future. This decision may be based upon market conditions, including energy and capacity revenues, insufficient government financial support, 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. The associated costs and accounting charges may include, among other things, one-time impairment charges or accelerated D&A 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 NDT Fund, which would result in a material adverse impact on PSEG’s results of operations. Non-Nuclear In May 2021, Power Ventures, a direct wholly owned subsidiary of PSEG Power, entered into a purchase agreement with Quattro Solar, LLC, an affiliate of LS Power, relating to the sale by Power Ventures of 100% of its ownership interest in Solar Source including its related assets and liabilities. The transaction closed in June 2021. As a result of the sale, PSEG Power recorded a pre-tax gain on sale of approximately $63 million, which is inclusive of the recognition of previously deferred unamortized ITCs of $185 million, and income tax expense of approximately $62 million primarily due to the recapture of ITC on units that operated for less than five years. 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. As a result of the Board of Directors’ approval of the transactions, PSEG’s fossil generating assets and liabilities to be disposed were reclassified to Assets and Liabilities Held for Sale in August 2021, and accordingly, PSEG ceased recording depreciation expense for these assets. In 2021, PSEG recorded a pre-tax impairment loss on sale of approximately $2,691 million as the purchase price was lower than the carrying value in 2021. In addition to the impairment loss, all of PSEG Power’s outstanding debt obligations were redeemed and PSEG incurred a pre-tax loss of $298 million for the make-whole provision payable upon early redemption and other non-cash debt extinguishment costs and also recorded approximately $13 million in pre-tax severance and retention charges, environmental accruals and other adjustments. As defined in each agreement, further adjustments were required as a result of any purchase price or 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 closing dates. As a result, in 2022 PSEG Power recorded an additional pre-tax impairment of approximately $50 million. As of December 31, 2021, PSEG Power’s fossil generation assets and liabilities Held for Sale, including anticipated working capital, were $2,060 million and $144 million, respectively, as follows: As of December 31, 2021 Millions Current Assets (A) $ 264 Property, Plant and Equipment 1,742 Noncurrent Assets 54 Total Assets Held for Sale $ 2,060 Current Liabilities (B) $ 57 Noncurrent Liabilities (C) 87 Total Liabilities Held for Sale $ 144 (A) Primarily includes Fuel, Materials and Supplies, Prepayments and Other Current Assets. (B) Primarily includes Accounts Payable and Other Current Liabilities. (C) Primarily includes Asset Retirement Obligations (AROs), Accrued Pension Costs and Other Noncurrent Liabilities. These Held for Sale balances represent all of the assets and liabilities that were transferred to the buyer at closing. PSEG Power has retained ownership of certain liabilities excluded from the transactions primarily related to obligations under certain environmental regulations, including remediation obligations under the New Jersey Industrial Site Recovery Act and the Connecticut Transfer Act. It will require multiple years and comprehensive environmental sampling to understand the extent of and to carry out the required remediation. The full remediation costs are not estimable, but will likely be material. In 2022, Energy Holdings recorded pre-tax impairments of $78 million related to one of its domestic energy generating facilities and its real estate assets. In 2020, PSEG Power completed the sale of its ownership interest in the Yards Creek generation facility and recorded a pre-tax gain on disposition of approximately $122 million as the sale price was greater than book value.

Variable Interest Entities (VIE

Variable Interest Entities (VIEs)	12 Months Ended
	Dec. 31, 2022
Variable Interest Entity [Line Items]
Variable Interest Entities (VIEs) [Text Block]	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 O&M Expense, respectively. In 2022, 2021 and 2020, Servco recorded $516 million, $511 million and $520 million, respectively, 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 Consolidated Statement of Operations. VIE for which PSEG is not the Primary Beneficiary PSEG holds a 25% equity interest in Ocean Wind JV HoldCo, LLC (OWH), which holds Ørsted North America Inc.’s (Ørsted) Ocean Wind 1 project that is expected to achieve full commercial operation in 2025. OWH is considered a VIE since its equity investments at risk are not sufficient to permit this entity to finance its activities without additional subordinated financial support. Since PSEG does not have voting control or the power to direct the activities of OWH that most significantly impact its economic performance, PSEG has determined that it is not the primary beneficiary and therefore accounts for this investment under the equity method. As of December 31, 2022 and 2021, PSEG’s carrying amount of its investment in OWH was $225 million and $111 million, respectively, which is included in Long-Term Investments on PSEG’s Consolidated Balance Sheet. PSEG’s maximum exposure to loss is limited to the carrying amount of its investment. In January 2023, PSEG agreed to sell to Ørsted its 25% equity interest in OWH. The sale proceeds approximate PSEG’s carrying value of the investment and no material gain or loss is expected upon disposition nor is the sale contingent upon Ørsted electing to proceed to the construction phase of the project. The sale is contingent upon finalization of a purchase and sale agreement with Ørsted as well as other closing conditions and any potential state regulatory approval that may be required to close on the transaction. The sale is expected to close in the first half of 2023. PSEG has no further obligation to make any capital contributions to the project prior to closing on the transaction.
Public Service Electric and Gas Company
Variable Interest Entity [Line Items]
Variable Interest Entities (VIEs) [Text Block]	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 O&M Expense, respectively. In 2022, 2021 and 2020, Servco recorded $516 million, $511 million and $520 million, respectively, 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 Consolidated Statement of Operations. VIE for which PSEG is not the Primary Beneficiary PSEG holds a 25% equity interest in Ocean Wind JV HoldCo, LLC (OWH), which holds Ørsted North America Inc.’s (Ørsted) Ocean Wind 1 project that is expected to achieve full commercial operation in 2025. OWH is considered a VIE since its equity investments at risk are not sufficient to permit this entity to finance its activities without additional subordinated financial support. Since PSEG does not have voting control or the power to direct the activities of OWH that most significantly impact its economic performance, PSEG has determined that it is not the primary beneficiary and therefore accounts for this investment under the equity method. As of December 31, 2022 and 2021, PSEG’s carrying amount of its investment in OWH was $225 million and $111 million, respectively, which is included in Long-Term Investments on PSEG’s Consolidated Balance Sheet. PSEG’s maximum exposure to loss is limited to the carrying amount of its investment. In January 2023, PSEG agreed to sell to Ørsted its 25% equity interest in OWH. The sale proceeds approximate PSEG’s carrying value of the investment and no material gain or loss is expected upon disposition nor is the sale contingent upon Ørsted electing to proceed to the construction phase of the project. The sale is contingent upon finalization of a purchase and sale agreement with Ørsted as well as other closing conditions and any potential state regulatory approval that may be required to close on the transaction. The sale is expected to close in the first half of 2023. PSEG has no further obligation to make any capital contributions to the project prior to closing on the transaction.

Property, Plant And Equipment A

Property, Plant And Equipment And Jointly-Owned Facilities	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property Plant And Equipment And Jointly-Owned Facilities	Property, Plant and Equipment and Jointly-Owned Facilities Information related to Property, Plant and Equipment as of December 31, 2022 and 2021 is detailed below: 2022 2021 Millions PSE&G Electric Transmission $ 16,393 $ 15,544 Electric Distribution 10,785 10,223 Gas Distribution and Transmission 10,616 9,818 Construction Work in Progress 1,336 1,196 Other 1,915 1,807 Total PSE&G 41,045 38,588 Nuclear Production 3,567 3,656 Nuclear Fuel in Service 758 762 Construction Work in Progress 177 177 Other 377 501 Total $ 45,924 $ 43,684 The above table excludes amounts as of December 31, 2021 which were classified as Held for Sale. For additional information see Note 4. Early Plant Retirements/Asset Dispositions and Impairments. PSE&G and PSEG Power have ownership interests in and are responsible for providing their respective shares of the necessary financing for the following jointly-owned facilities to which they are a party. All amounts reflect PSE&G’s or PSEG Power’s share of the jointly-owned projects and the corresponding direct expenses are included in the Consolidated Statements of Operations as Operating Expenses. As of December 31, 2022 2021 Ownership Accumulated Accumulated Interest Plant Depreciation Plant Depreciation Millions PSE&G: Transmission Facilities Various $ 164 $ 67 $ 165 $ 66 PSEG Power: Nuclear Generating: Peach Bottom 50 % $ 1,444 $ 506 $ 1,452 $ 481 Salem 57 % $ 1,455 $ 516 $ 1,468 $ 449 Nuclear Support Facilities Various $ 228 $ 119 $ 226 $ 107 Other 14 % $ 1 $ — $ 1 $ — PSEG Power holds undivided ownership interests in the jointly-owned facilities above. PSEG Power is entitled to shares of the generating capability and output of each unit equal to its respective ownership interests. PSEG Power also pays its ownership share of additional construction costs, fuel inventory purchases and operating expenses. PSEG Power’s share of expenses for the jointly-owned facilities is included in the appropriate expense category. Each owner is responsible for any financing with respect to its pro rata share of capital expenditures. PSEG Power co-owns Salem and Peach Bottom with Constellation Energy Generation, LLC. PSEG Power is the operator of Salem and Constellation Energy Generation, LLC is the operator of Peach Bottom. A committee appointed by the co-owners provides oversight. Proposed O&M budgets and requests for major capital expenditures are reviewed and approved as part of the normal PSEG Power governance process.
Public Service Electric and Gas Company
Property, Plant and Equipment [Line Items]
Property Plant And Equipment And Jointly-Owned Facilities	Property, Plant and Equipment and Jointly-Owned Facilities Information related to Property, Plant and Equipment as of December 31, 2022 and 2021 is detailed below: 2022 2021 Millions PSE&G Electric Transmission $ 16,393 $ 15,544 Electric Distribution 10,785 10,223 Gas Distribution and Transmission 10,616 9,818 Construction Work in Progress 1,336 1,196 Other 1,915 1,807 Total PSE&G 41,045 38,588 Nuclear Production 3,567 3,656 Nuclear Fuel in Service 758 762 Construction Work in Progress 177 177 Other 377 501 Total $ 45,924 $ 43,684 The above table excludes amounts as of December 31, 2021 which were classified as Held for Sale. For additional information see Note 4. Early Plant Retirements/Asset Dispositions and Impairments. PSE&G and PSEG Power have ownership interests in and are responsible for providing their respective shares of the necessary financing for the following jointly-owned facilities to which they are a party. All amounts reflect PSE&G’s or PSEG Power’s share of the jointly-owned projects and the corresponding direct expenses are included in the Consolidated Statements of Operations as Operating Expenses. As of December 31, 2022 2021 Ownership Accumulated Accumulated Interest Plant Depreciation Plant Depreciation Millions PSE&G: Transmission Facilities Various $ 164 $ 67 $ 165 $ 66 PSEG Power: Nuclear Generating: Peach Bottom 50 % $ 1,444 $ 506 $ 1,452 $ 481 Salem 57 % $ 1,455 $ 516 $ 1,468 $ 449 Nuclear Support Facilities Various $ 228 $ 119 $ 226 $ 107 Other 14 % $ 1 $ — $ 1 $ — PSEG Power holds undivided ownership interests in the jointly-owned facilities above. PSEG Power is entitled to shares of the generating capability and output of each unit equal to its respective ownership interests. PSEG Power also pays its ownership share of additional construction costs, fuel inventory purchases and operating expenses. PSEG Power’s share of expenses for the jointly-owned facilities is included in the appropriate expense category. Each owner is responsible for any financing with respect to its pro rata share of capital expenditures. PSEG Power co-owns Salem and Peach Bottom with Constellation Energy Generation, LLC. PSEG Power is the operator of Salem and Constellation Energy Generation, LLC is the operator of Peach Bottom. A committee appointed by the co-owners provides oversight. Proposed O&M budgets and requests for major capital expenditures are reviewed and approved as part of the normal PSEG Power governance process.

Regulatory Assets And Liabiliti

Regulatory Assets And Liabilities	12 Months Ended
	Dec. 31, 2022
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets and Liabilities	Regulatory Assets and Liabilities PSE&G prepares its financial statements in accordance with GAAP for regulated utilities as described in Note 1. Organization, Basis of Presentation and Significant Accounting Policies. PSE&G has deferred certain costs based on rate orders issued by the BPU or FERC or based on PSE&G’s experience with prior rate proceedings. Most of PSE&G’s Regulatory Assets and Liabilities as of December 31, 2022 are supported by written orders, either explicitly or implicitly through the BPU’s treatment of various cost items. These costs will be recovered and amortized over various future periods. Regulatory Assets and other investments and costs incurred under our various infrastructure filings and clause mechanisms are subject to prudence reviews and can be disallowed in the future by regulatory authorities. To the extent that collection of any infrastructure or clause mechanism revenue, Regulatory Assets or payments of Regulatory Liabilities is no longer probable, the amounts would be charged or credited to income. PSE&G had the following Regulatory Assets and Liabilities: As of December 31, 2022 2021 Millions Regulatory Assets Current New Jersey Clean Energy Program $ 145 $ 146 Electric Energy Costs—Basic Generation Service (BGS) 54 67 Tax Adjustment Credit (TAC) 52 44 Conservation Incentive Program (CIP) 51 36 2018 Distribution Base Rate Case Regulatory Assets (BRC) 47 56 Societal Benefits Clause (SBC) 20 — Other — 15 Total Current Regulatory Assets 369 364 Noncurrent Pension and OPEB Costs $ 1,405 $ 1,043 Deferred Income Tax Regulatory Assets 1,168 1,064 Green Program Recovery Charges (GPRC) 447 211 Manufactured Gas Plant (MGP) Remediation Costs 206 220 Asset Retirement Obligation (ARO) 200 191 Electric Transmission and Gas Cost of Removal 156 174 SBC (Electric Bad Debt) 145 139 COVID-19 Deferral 137 116 Remediation Adjustment Charge (RAC) (Other SBC) 134 156 Deferred Storm Costs 109 109 Clean Energy Future-Energy Cloud (CEF-EC) (Advanced Metering Infrastructure (AMI)) 80 5 CIP 72 12 BRC — 47 Other 145 118 Total Noncurrent Regulatory Assets 4,404 3,605 Total Regulatory Assets $ 4,773 $ 3,969 As of December 31, 2022 2021 Millions Regulatory Liabilities Current Deferred Income Tax Regulatory Liabilities $ 302 $ 288 Gas Costs—Basic Gas Supply Service (BGSS) 35 5 GPRC 24 19 Formula Rate True-up 1 42 Other 22 34 Total Current Regulatory Liabilities 384 388 Noncurrent Deferred Income Tax Regulatory Liabilities $ 2,196 $ 2,443 Formula Rate True-up 31 9 Other 13 45 Total Noncurrent Regulatory Liabilities 2,240 2,497 Total Regulatory Liabilities $ 2,624 $ 2,885 All Regulatory Assets and Liabilities are excluded from PSE&G’s rate base unless otherwise noted. The Regulatory Assets and Liabilities in the table above are defined as follows: • ARO: These costs represent the differences between rate-regulated cost of removal accounting and asset retirement accounting under GAAP. These costs will be recovered in future rates as assets are retired. • BRC: Represents deferred costs, primarily comprised of storm costs incurred in the cleanup of major storms from 2010 through 2018, which are being amortized over five years pursuant to the 2018 Distribution Base Rate Case Settlement. • CIP: The CIP reduces the impact on distribution revenues from changes in sales volumes and demand for most customers. The CIP, which is calculated annually, provides for a true-up of current period revenue as compared to revenue established in PSE&G’s most recent distribution base rate proceeding. Recovery under the CIP is subject to certain limitations, including an actual versus allowed return on equity test and ceilings on customer rate increases. The CIP became effective in June 2021 for electric revenues and October 2021 for gas revenues. The gas CIP replaced the Weather Normalization Clause. • CEF-EC (AMI Initiative): In January 2021, the BPU approved PSE&G’s CEF-EC filing to provide its 2.3 million electric customers with smart meters. All of the capital and operating costs of the program will be recovered in PSE&G’s next base rate case, expected in the second half of 2024. From the start of the program until the commencement of new base rates, the return on and of the capital portion of the program is included for recovery in those rates, as well as operating and stranded costs associated with the accelerated retirement of the existing non-AMI electric meters which PSE&G expects to conclude by the end of 2024. As of December 31, 2022 and 2021, the net book value of these meters was $168 million and $192 million, respectively. • COVID-19 Deferral: These amounts represent incremental costs related to COVID-19 as authorized for deferral in an order issued by the BPU to all New Jersey regulated utilities in July 2020. The BPU authorized such utilities to create a COVID-19-related Regulatory Asset by deferring on their books and records the prudently incurred incremental costs related to COVID-19 during the Regulatory Asset period, beginning on March 9, 2020 through September 30, 2021, or 60 days after the New Jersey governor determines that the Public Health Emergency is no longer in effect, or in the absence of such a determination, 60 days from the time the Public Health Emergency automatically terminates by law, whichever is later. In December 2022, the BPU extended the deferral period to March 15, 2023. Deferred costs are to be offset by any federal or state assistance that the utility may receive as a direct result of the COVID-19 pandemic. Utilities must file quarterly reports of the costs incurred and offsets. Each participating utility may file a petition documenting its prudently incurred incremental COVID-19 costs within 60 days of the close of the extended March 15, 2023 Regulatory Asset period. Any potential rate recovery, including any prudency determinations and the appropriate period of recovery, will be addressed through that filing, or in the alternative, the utility may request that the BPU defer consideration of rate recovery for a future base rate case. • Deferred Income Tax Regulatory Assets: These amounts relate to deferred income taxes arising from utility operations that have not been included in customer rates relating to depreciation, ITCs and other flow-through items, including the flowback to customers of accumulated deferred income taxes related to tax repair deductions. As part of its base rate case settlement with the BPU and the establishment of the TAC mechanism in 2018, PSE&G agreed to a ten-year flowback to customers of its accumulated deferred income taxes from previously realized tax repair deductions which resulted in the recognition of a $581 million Regulatory Asset and Regulatory Liability as of September 30, 2018. In addition, PSE&G agreed to the current flowback of tax benefits from ongoing tax repair deductions as realized which results in the recording of a Regulatory Asset upon flowback. For the years ended December 31, 2022, 2021 and 2020, PSE&G had provided $35 million, $22 million and $31 million, respectively, in current tax repair flowbacks to customers. The recovery and amortization of the tax repair-related Deferred Income Tax Regulatory Assets is being recovered through the TAC regulatory mechanism. • Deferred Income Tax Regulatory Liabilities: These liabilities primarily relate to amounts due to customers for excess deferred income taxes as a result of the reduction in the federal corporate income tax rate provided in the Tax Cuts and Jobs Act of 2017 (Tax Act), and accumulated deferred income taxes from previously realized distribution-related tax repair deductions. As part of its settlement with its regulators, PSE&G agreed to refund the excess deferred income taxes as follows: • Unprotected distribution-related excess deferred income taxes are being refunded to customers over five years through PSE&G’s TAC mechanism as approved in its 2018 distribution base rate proceeding. As of December 31, 2022, the balance remaining to be flowed back to customers was approximately $203 million with the remaining flowback period through 2024. • Protected distribution-related excess deferred income taxes are being refunded to customers over the remaining useful life of distribution property, plant and equipment through PSE&G’s TAC mechanism. As of December 31, 2022, the balance remaining to be flowed back to customers was approximately $882 million. • Previously realized distribution-related tax repair deductions are being refunded to customers over ten years through PSE&G’s TAC mechanism. As of December 31, 2022, the balance remaining to be flowed back to customers was approximately $425 million through 2028. • Protected transmission-related excess deferred income taxes are being refunded to customers over the remaining useful life of transmission property, plant and equipment through PSE&G’s transmission formula rate mechanism. As of December 31, 2022, the balance remaining to be flowed back to customers was approximately $933 million. • Unprotected transmission-related deferred income taxes were fully refunded to customers in 2019 and 2020. • Deferred Storm Costs: Incremental costs incurred in the restoration and related costs from major storms from 2019 through 2022 for which PSE&G will seek recovery in its next base rate proceeding. • Electric and Gas Cost of Removal: PSE&G accrues and collects in rates for the cost of removing, dismantling and disposing of its T&D assets upon retirement. The Regulatory Asset or Liability for non-legally required cost of removal represents the difference between amounts collected in rates and costs actually incurred. • Electric Energy Costs — BGS: These costs represent the over or under recovered amounts associated with BGS, as approved by the BPU. Pursuant to BPU requirements, PSE&G serves as the supplier of last resort for electric customers within its service territory that are not served by another supplier. Pricing for those services are set by the BPU as a pass-through, resulting in no margin for PSE&G’s operations. Over or under recovered balances with interest are returned or recovered through monthly filings. • Formula Rate True-Up: PSE&G’s transmission revenues are earned under a FERC-approved annual formula rate mechanism which 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. • Gas Costs — BGSS: These costs represent the over or under recovered amounts associated with BGSS, as approved by the BPU. Pursuant to BPU requirements, PSE&G serves as the supplier of last resort for gas customers within its service territory that are not served by another supplier. Pricing for those services are set by the BPU as a pass-through, resulting in no margin for PSE&G’s operations. Over or under collected balances are returned or recovered through an annual filing. Interest is accrued only on over recovered balances. • GPRC: This amount represents costs of the over or under collected balances associated with various Energy Efficiency and Renewable Energy (EE & RE) Programs. PSE&G files annually with the BPU for recovery of amounts that include a return on and of its investment over the lives of the underlying investments and capital assets which range from five to ten years. Interest is accrued monthly on any over or under recovered balances. Approved components of the GPRC include: Carbon Abatement, Energy Efficiency Economic Stimulus Program (EEE), EEE Extension Program, EEE Extension II Program, Solar Generation Investment Program (Solar 4 All ® ), Solar 4 All ® Extension, Solar 4 All ® Extension II, Solar Loan II Program, Solar Loan III Program, Energy Efficiency (EE) 2017 Program, Clean Energy Future–Energy Efficiency (CEF-EE), the Transition Renewable Energy Certificate (TRECs) Program, Clean Energy Act Studies (CEAS), Community Solar Energy Program (CSEP) and the Successor Solar Incentive Program (SuSI). • MGP Remediation Costs: Represents the low end of the range for the remaining environmental investigation and remediation program cleanup costs for MGPs that are probable of recovery in future rates. Once these costs are incurred, they are recovered through the RAC in the SBC over a seven year period with interest. • New Jersey Clean Energy Program: The BPU approved future funding requirements for EE and RE Programs. The BPU funding requirements are recovered through the SBC. • Pension and OPEB Costs: Pursuant to the adoption of accounting guidance for employers’ defined benefit pension and OPEB plans, PSE&G recorded the unrecognized costs for defined benefit pension and other OPEB plans on the balance sheet as a Regulatory Asset. These costs represent net actuarial gains or losses and prior service costs which have not been expensed. These costs are amortized and recovered in future rates. • RAC (Other SBC): Costs incurred to clean up MGPs which are recovered over seven years with interest through an annual filing. • SBC: The SBC, as authorized by the BPU and the New Jersey Electric Discount and Energy Competition Act, includes costs related to PSE&G’s electric and gas business as follows: (1) the Universal Service Fund; (2) EE & RE Programs; (3) Electric bad debt expense; and (4) the RAC for incurred MGP remediation expenditures. Over or under recovered balances with interest are to be returned or recovered through an annual filing. • TAC: This represents the over or under collected balances associated with the return of excess accumulated deferred income taxes and the flowback of previously realized and current tax repair deductions under a mechanism approved by the BPU in PSE&G’s 2018 Distribution Base Rate Case Settlement. Over or under collected balances are returned or recovered through an annual filing. PSE&G includes a return component on the flowback of the excess accumulated deferred income taxes and the previously realized tax repairs. Interest is accrued monthly on any over or under recovered balances. Significant 2022 regulatory orders received and currently pending rate filings with the BPU by PSE&G are as follows: • BGS — In January 2022, the BPU approved changes to BGS rates as a result of the FERC-approved changes to transmission charges, primarily as a result of the decrease in PSE&G’s transmission formula rate of return on equity. PSE&G’s BGS customers are being credited over a 12-month period effective February 1, 2022. • BGSS — In April 2022, the BPU gave final approval to PSE&G’s request to maintain the BGSS rate of approximately 41 cents per therm which had been provisionally approved effective February 1, 2022. In September 2022, the BPU approved on a provisional basis PSE&G’s June 2022 request to increase its BGSS rate to approximately 65 cents per therm, effective October 1, 2022. In January 2023, PSE&G filed a self-implementing BGSS rate reduction of 15 cents per therm with the BPU. This reduction resulted in a new BGSS rate of approximately 50 cents per therm effective February 1, 2023. • CIP — In February 2023, the BPU gave final approval for PSE&G to recover approximately $52 million of deficient electric revenues over two years, with approximately $18 million approved for recovery for the first year starting on the effective date of June 15, 2022. In September 2022, the BPU provisionally approved PSE&G’s initial gas CIP cost recovery petition to recover over a one year period deficient gas revenues of approximately $53 million with new rates effective October 1, 2022. The revenue deficiency is the result of lower estimated revenues as compared to a baseline established in PSE&G’s most recent distribution base rate proceeding. In February 2023, PSE&G filed its annual electric CIP petition seeking BPU approval to recover estimated deficient electric revenues of approximately $54 million based on the twelve month period ending May 31, 2023 with new rates proposed to be effective June 1, 2023. This matter is pending. • CSEP Program, a New Component of the GPRC— In June 2022, the BPU approved PSE&G’s filing to recover its initial electric revenue requirement of $0.4 million related to the CSEP Program with the new rate effective July 1, 2022. • COVID-19 Deferral— PSE&G continues to make quarterly filings as required by the BPU and has recorded a Regulatory Asset as of December 31, 2022 of approximately $137 million for net incremental costs, including $68 million for incremental gas bad debt expense associated with customer accounts receivable, which PSE&G expects are probable of recovery under the BPU order. In December 2022, the BPU approved an extension of the COVID deferral period until March 15, 2023 and ordered all New Jersey regulated utilities to file petitions documenting its prudently incurred incremental COVID-19 costs no later than 60 days thereafter. • Energy Strong II (ES II)— In May 2022, the BPU approved PSE&G’s updated filing for annual electric and gas revenue increases of $17 million and $1 million, respectively, effective June 1, 2022. These increases represent the return on and of Energy Strong II investments placed in service through January 2022. In November 2022, PSE&G filed its annual petition seeking BPU approval to recover the annualized increases in electric and gas revenue requirements associated with capitalized investment costs of the ES II Program, with rates to be effective May 1, 2023. In February 2023, PSE&G updated its petition for actual investments through January 31, 2023 requesting annual electric and gas revenue increases of $16 million and $4 million, respectively. This matter is pending. • Gas System Modernization Program (GSMP II)— In May 2022, the BPU approved PSE&G’s filing for an annual gas revenue increase of $25 million effective June 1, 2022. This increase represents the return on and of GSMP II investments placed in service through February 2022. In November 2022, the BPU approved PSE&G’s updated GSMP II cost recovery filing to recover an annual gas revenue increase of $23 million effective December 1, 2022. This increase represents the return on and of GSMP II investments placed in service through August 31, 2022. In December 2022, PSE&G filed its next semiannual GSMP II cost recovery petition seeking BPU approval to recover in gas base rates an estimated annual revenue increase of approximately $11 million effective June 1, 2023. • GPRC— In June 2022, the BPU approved PSE&G’s updated filing for an annual electric revenue decrease of approximately $4 million and a gas revenue increase of approximately $1 million, with new rates effective June 15, 2022. In July 2022, PSE&G filed its 2022 GPRC cost recovery petition requesting BPU approval to recover increases of $110 million and $8 million in annual electric and gas revenues, respectively. This matter is pending. In September 2022, PSE&G filed a petition which requested an increase of $320 million in its total program investment spending for the CEF-EE component of GPRC and a nine month extension to the program to make the investments. This matter is pending. • Pension— In February 2023, the BPU approved an accounting order authorizing PSE&G to modify its method for calculating the amortization of the net actuarial gain or loss component of pension expense for ratemaking purposes. This methodology change for ratemaking purposes is effective for the calendar year ending December 31, 2023 and forward. • RAC— In September 2022, the BPU approved PSE&G’s RAC 29 filing allowing recovery of approximately $44 million of net MGP remediation expenditures incurred from August 1, 2020 through July 31, 2021. In January 2023, PSE&G filed its RAC 30 petition with the BPU seeking recovery of approximately $44 million of net MGP expenditures incurred from August 1, 2021 through July 31, 2022. This matter is pending. • SuSI Program, a New Component of the GPRC— In June 2022, the BPU approved PSE&G’s filing to recover an annual electric revenue increase of $38 million effective June 15, 2022. These costs will be recovered as a new component of PSE&G’s existing electric GPRC. • SBC— In January 2023, PSE&G filed a petition to increase its annual electric and gas rates by approximately $52 million and $32 million, respectively, in order to recover electric and gas costs incurred or expected to be incurred through February 2024 under its EE and Renewable Energy and Social Programs. The increase to electric rates includes the impact of increased bad debt expense as a result of the negative economic impact of the coronavirus pandemic and the resulting impact of moratoriums on collections. This matter is pending. • TAC— In June 2022, the BPU approved PSE&G’s annual 2021 TAC filing to increase annual electric and gas revenues by approximately $15 million and $31 million, respectively. The new rates were effective June 15, 2022. In October 2022, PSE&G made its annual 2022 TAC filing requesting BPU approval to increase electric revenues and decrease gas revenues by approximately $17 million and $70 million, respectively, on an annual basis starting January 1, 2023. This matter is pending. • Transmission Formula Rates— In June 2022, PSE&G filed its 2021 true-up adjustment pertaining to its transmission formula rates in effect for 2021. This filing resulted in a decrease in the 2021 annual revenue requirement of $1 million less than the 2021 original and updated filings, incorporating the FERC-approved settlement agreement effective August 1, 2021. In October 2022, PSE&G filed its Annual Transmission Formula Rate Update with FERC which will result in $69 million in increased annual transmission revenue effective January 1, 2023, subject to true-up. • ZEC Program— In April 2022, the BPU approved PSE&G’s petition to refund a total of $4 million to customers, including interest, for overcollections resulting from the ZEC program for the energy year ended May 31, 2021. In January 2023, the BPU approved PSE&G’s petition to set the ZEC refund component of the tariff rate to zero effective February 1, 2023. For the ZEC Energy Year ended May 31, 2022, PSE&G purchased approximately $161 million in ZECs including interest, from the eligible nuclear plants selected by the BPU with the final payment made in August 2022. As a result of the collections and required ZEC payments, there were overcollected revenues, including interest totaling $1.3 million, which PSE&G refunded to customers over the remainder of 2022 through January 2023 through its existing rates.
Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets and Liabilities	Regulatory Assets and Liabilities PSE&G prepares its financial statements in accordance with GAAP for regulated utilities as described in Note 1. Organization, Basis of Presentation and Significant Accounting Policies. PSE&G has deferred certain costs based on rate orders issued by the BPU or FERC or based on PSE&G’s experience with prior rate proceedings. Most of PSE&G’s Regulatory Assets and Liabilities as of December 31, 2022 are supported by written orders, either explicitly or implicitly through the BPU’s treatment of various cost items. These costs will be recovered and amortized over various future periods. Regulatory Assets and other investments and costs incurred under our various infrastructure filings and clause mechanisms are subject to prudence reviews and can be disallowed in the future by regulatory authorities. To the extent that collection of any infrastructure or clause mechanism revenue, Regulatory Assets or payments of Regulatory Liabilities is no longer probable, the amounts would be charged or credited to income. PSE&G had the following Regulatory Assets and Liabilities: As of December 31, 2022 2021 Millions Regulatory Assets Current New Jersey Clean Energy Program $ 145 $ 146 Electric Energy Costs—Basic Generation Service (BGS) 54 67 Tax Adjustment Credit (TAC) 52 44 Conservation Incentive Program (CIP) 51 36 2018 Distribution Base Rate Case Regulatory Assets (BRC) 47 56 Societal Benefits Clause (SBC) 20 — Other — 15 Total Current Regulatory Assets 369 364 Noncurrent Pension and OPEB Costs $ 1,405 $ 1,043 Deferred Income Tax Regulatory Assets 1,168 1,064 Green Program Recovery Charges (GPRC) 447 211 Manufactured Gas Plant (MGP) Remediation Costs 206 220 Asset Retirement Obligation (ARO) 200 191 Electric Transmission and Gas Cost of Removal 156 174 SBC (Electric Bad Debt) 145 139 COVID-19 Deferral 137 116 Remediation Adjustment Charge (RAC) (Other SBC) 134 156 Deferred Storm Costs 109 109 Clean Energy Future-Energy Cloud (CEF-EC) (Advanced Metering Infrastructure (AMI)) 80 5 CIP 72 12 BRC — 47 Other 145 118 Total Noncurrent Regulatory Assets 4,404 3,605 Total Regulatory Assets $ 4,773 $ 3,969 As of December 31, 2022 2021 Millions Regulatory Liabilities Current Deferred Income Tax Regulatory Liabilities $ 302 $ 288 Gas Costs—Basic Gas Supply Service (BGSS) 35 5 GPRC 24 19 Formula Rate True-up 1 42 Other 22 34 Total Current Regulatory Liabilities 384 388 Noncurrent Deferred Income Tax Regulatory Liabilities $ 2,196 $ 2,443 Formula Rate True-up 31 9 Other 13 45 Total Noncurrent Regulatory Liabilities 2,240 2,497 Total Regulatory Liabilities $ 2,624 $ 2,885 All Regulatory Assets and Liabilities are excluded from PSE&G’s rate base unless otherwise noted. The Regulatory Assets and Liabilities in the table above are defined as follows: • ARO: These costs represent the differences between rate-regulated cost of removal accounting and asset retirement accounting under GAAP. These costs will be recovered in future rates as assets are retired. • BRC: Represents deferred costs, primarily comprised of storm costs incurred in the cleanup of major storms from 2010 through 2018, which are being amortized over five years pursuant to the 2018 Distribution Base Rate Case Settlement. • CIP: The CIP reduces the impact on distribution revenues from changes in sales volumes and demand for most customers. The CIP, which is calculated annually, provides for a true-up of current period revenue as compared to revenue established in PSE&G’s most recent distribution base rate proceeding. Recovery under the CIP is subject to certain limitations, including an actual versus allowed return on equity test and ceilings on customer rate increases. The CIP became effective in June 2021 for electric revenues and October 2021 for gas revenues. The gas CIP replaced the Weather Normalization Clause. • CEF-EC (AMI Initiative): In January 2021, the BPU approved PSE&G’s CEF-EC filing to provide its 2.3 million electric customers with smart meters. All of the capital and operating costs of the program will be recovered in PSE&G’s next base rate case, expected in the second half of 2024. From the start of the program until the commencement of new base rates, the return on and of the capital portion of the program is included for recovery in those rates, as well as operating and stranded costs associated with the accelerated retirement of the existing non-AMI electric meters which PSE&G expects to conclude by the end of 2024. As of December 31, 2022 and 2021, the net book value of these meters was $168 million and $192 million, respectively. • COVID-19 Deferral: These amounts represent incremental costs related to COVID-19 as authorized for deferral in an order issued by the BPU to all New Jersey regulated utilities in July 2020. The BPU authorized such utilities to create a COVID-19-related Regulatory Asset by deferring on their books and records the prudently incurred incremental costs related to COVID-19 during the Regulatory Asset period, beginning on March 9, 2020 through September 30, 2021, or 60 days after the New Jersey governor determines that the Public Health Emergency is no longer in effect, or in the absence of such a determination, 60 days from the time the Public Health Emergency automatically terminates by law, whichever is later. In December 2022, the BPU extended the deferral period to March 15, 2023. Deferred costs are to be offset by any federal or state assistance that the utility may receive as a direct result of the COVID-19 pandemic. Utilities must file quarterly reports of the costs incurred and offsets. Each participating utility may file a petition documenting its prudently incurred incremental COVID-19 costs within 60 days of the close of the extended March 15, 2023 Regulatory Asset period. Any potential rate recovery, including any prudency determinations and the appropriate period of recovery, will be addressed through that filing, or in the alternative, the utility may request that the BPU defer consideration of rate recovery for a future base rate case. • Deferred Income Tax Regulatory Assets: These amounts relate to deferred income taxes arising from utility operations that have not been included in customer rates relating to depreciation, ITCs and other flow-through items, including the flowback to customers of accumulated deferred income taxes related to tax repair deductions. As part of its base rate case settlement with the BPU and the establishment of the TAC mechanism in 2018, PSE&G agreed to a ten-year flowback to customers of its accumulated deferred income taxes from previously realized tax repair deductions which resulted in the recognition of a $581 million Regulatory Asset and Regulatory Liability as of September 30, 2018. In addition, PSE&G agreed to the current flowback of tax benefits from ongoing tax repair deductions as realized which results in the recording of a Regulatory Asset upon flowback. For the years ended December 31, 2022, 2021 and 2020, PSE&G had provided $35 million, $22 million and $31 million, respectively, in current tax repair flowbacks to customers. The recovery and amortization of the tax repair-related Deferred Income Tax Regulatory Assets is being recovered through the TAC regulatory mechanism. • Deferred Income Tax Regulatory Liabilities: These liabilities primarily relate to amounts due to customers for excess deferred income taxes as a result of the reduction in the federal corporate income tax rate provided in the Tax Cuts and Jobs Act of 2017 (Tax Act), and accumulated deferred income taxes from previously realized distribution-related tax repair deductions. As part of its settlement with its regulators, PSE&G agreed to refund the excess deferred income taxes as follows: • Unprotected distribution-related excess deferred income taxes are being refunded to customers over five years through PSE&G’s TAC mechanism as approved in its 2018 distribution base rate proceeding. As of December 31, 2022, the balance remaining to be flowed back to customers was approximately $203 million with the remaining flowback period through 2024. • Protected distribution-related excess deferred income taxes are being refunded to customers over the remaining useful life of distribution property, plant and equipment through PSE&G’s TAC mechanism. As of December 31, 2022, the balance remaining to be flowed back to customers was approximately $882 million. • Previously realized distribution-related tax repair deductions are being refunded to customers over ten years through PSE&G’s TAC mechanism. As of December 31, 2022, the balance remaining to be flowed back to customers was approximately $425 million through 2028. • Protected transmission-related excess deferred income taxes are being refunded to customers over the remaining useful life of transmission property, plant and equipment through PSE&G’s transmission formula rate mechanism. As of December 31, 2022, the balance remaining to be flowed back to customers was approximately $933 million. • Unprotected transmission-related deferred income taxes were fully refunded to customers in 2019 and 2020. • Deferred Storm Costs: Incremental costs incurred in the restoration and related costs from major storms from 2019 through 2022 for which PSE&G will seek recovery in its next base rate proceeding. • Electric and Gas Cost of Removal: PSE&G accrues and collects in rates for the cost of removing, dismantling and disposing of its T&D assets upon retirement. The Regulatory Asset or Liability for non-legally required cost of removal represents the difference between amounts collected in rates and costs actually incurred. • Electric Energy Costs — BGS: These costs represent the over or under recovered amounts associated with BGS, as approved by the BPU. Pursuant to BPU requirements, PSE&G serves as the supplier of last resort for electric customers within its service territory that are not served by another supplier. Pricing for those services are set by the BPU as a pass-through, resulting in no margin for PSE&G’s operations. Over or under recovered balances with interest are returned or recovered through monthly filings. • Formula Rate True-Up: PSE&G’s transmission revenues are earned under a FERC-approved annual formula rate mechanism which 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. • Gas Costs — BGSS: These costs represent the over or under recovered amounts associated with BGSS, as approved by the BPU. Pursuant to BPU requirements, PSE&G serves as the supplier of last resort for gas customers within its service territory that are not served by another supplier. Pricing for those services are set by the BPU as a pass-through, resulting in no margin for PSE&G’s operations. Over or under collected balances are returned or recovered through an annual filing. Interest is accrued only on over recovered balances. • GPRC: This amount represents costs of the over or under collected balances associated with various Energy Efficiency and Renewable Energy (EE & RE) Programs. PSE&G files annually with the BPU for recovery of amounts that include a return on and of its investment over the lives of the underlying investments and capital assets which range from five to ten years. Interest is accrued monthly on any over or under recovered balances. Approved components of the GPRC include: Carbon Abatement, Energy Efficiency Economic Stimulus Program (EEE), EEE Extension Program, EEE Extension II Program, Solar Generation Investment Program (Solar 4 All ® ), Solar 4 All ® Extension, Solar 4 All ® Extension II, Solar Loan II Program, Solar Loan III Program, Energy Efficiency (EE) 2017 Program, Clean Energy Future–Energy Efficiency (CEF-EE), the Transition Renewable Energy Certificate (TRECs) Program, Clean Energy Act Studies (CEAS), Community Solar Energy Program (CSEP) and the Successor Solar Incentive Program (SuSI). • MGP Remediation Costs: Represents the low end of the range for the remaining environmental investigation and remediation program cleanup costs for MGPs that are probable of recovery in future rates. Once these costs are incurred, they are recovered through the RAC in the SBC over a seven year period with interest. • New Jersey Clean Energy Program: The BPU approved future funding requirements for EE and RE Programs. The BPU funding requirements are recovered through the SBC. • Pension and OPEB Costs: Pursuant to the adoption of accounting guidance for employers’ defined benefit pension and OPEB plans, PSE&G recorded the unrecognized costs for defined benefit pension and other OPEB plans on the balance sheet as a Regulatory Asset. These costs represent net actuarial gains or losses and prior service costs which have not been expensed. These costs are amortized and recovered in future rates. • RAC (Other SBC): Costs incurred to clean up MGPs which are recovered over seven years with interest through an annual filing. • SBC: The SBC, as authorized by the BPU and the New Jersey Electric Discount and Energy Competition Act, includes costs related to PSE&G’s electric and gas business as follows: (1) the Universal Service Fund; (2) EE & RE Programs; (3) Electric bad debt expense; and (4) the RAC for incurred MGP remediation expenditures. Over or under recovered balances with interest are to be returned or recovered through an annual filing. • TAC: This represents the over or under collected balances associated with the return of excess accumulated deferred income taxes and the flowback of previously realized and current tax repair deductions under a mechanism approved by the BPU in PSE&G’s 2018 Distribution Base Rate Case Settlement. Over or under collected balances are returned or recovered through an annual filing. PSE&G includes a return component on the flowback of the excess accumulated deferred income taxes and the previously realized tax repairs. Interest is accrued monthly on any over or under recovered balances. Significant 2022 regulatory orders received and currently pending rate filings with the BPU by PSE&G are as follows: • BGS — In January 2022, the BPU approved changes to BGS rates as a result of the FERC-approved changes to transmission charges, primarily as a result of the decrease in PSE&G’s transmission formula rate of return on equity. PSE&G’s BGS customers are being credited over a 12-month period effective February 1, 2022. • BGSS — In April 2022, the BPU gave final approval to PSE&G’s request to maintain the BGSS rate of approximately 41 cents per therm which had been provisionally approved effective February 1, 2022. In September 2022, the BPU approved on a provisional basis PSE&G’s June 2022 request to increase its BGSS rate to approximately 65 cents per therm, effective October 1, 2022. In January 2023, PSE&G filed a self-implementing BGSS rate reduction of 15 cents per therm with the BPU. This reduction resulted in a new BGSS rate of approximately 50 cents per therm effective February 1, 2023. • CIP — In February 2023, the BPU gave final approval for PSE&G to recover approximately $52 million of deficient electric revenues over two years, with approximately $18 million approved for recovery for the first year starting on the effective date of June 15, 2022. In September 2022, the BPU provisionally approved PSE&G’s initial gas CIP cost recovery petition to recover over a one year period deficient gas revenues of approximately $53 million with new rates effective October 1, 2022. The revenue deficiency is the result of lower estimated revenues as compared to a baseline established in PSE&G’s most recent distribution base rate proceeding. In February 2023, PSE&G filed its annual electric CIP petition seeking BPU approval to recover estimated deficient electric revenues of approximately $54 million based on the twelve month period ending May 31, 2023 with new rates proposed to be effective June 1, 2023. This matter is pending. • CSEP Program, a New Component of the GPRC— In June 2022, the BPU approved PSE&G’s filing to recover its initial electric revenue requirement of $0.4 million related to the CSEP Program with the new rate effective July 1, 2022. • COVID-19 Deferral— PSE&G continues to make quarterly filings as required by the BPU and has recorded a Regulatory Asset as of December 31, 2022 of approximately $137 million for net incremental costs, including $68 million for incremental gas bad debt expense associated with customer accounts receivable, which PSE&G expects are probable of recovery under the BPU order. In December 2022, the BPU approved an extension of the COVID deferral period until March 15, 2023 and ordered all New Jersey regulated utilities to file petitions documenting its prudently incurred incremental COVID-19 costs no later than 60 days thereafter. • Energy Strong II (ES II)— In May 2022, the BPU approved PSE&G’s updated filing for annual electric and gas revenue increases of $17 million and $1 million, respectively, effective June 1, 2022. These increases represent the return on and of Energy Strong II investments placed in service through January 2022. In November 2022, PSE&G filed its annual petition seeking BPU approval to recover the annualized increases in electric and gas revenue requirements associated with capitalized investment costs of the ES II Program, with rates to be effective May 1, 2023. In February 2023, PSE&G updated its petition for actual investments through January 31, 2023 requesting annual electric and gas revenue increases of $16 million and $4 million, respectively. This matter is pending. • Gas System Modernization Program (GSMP II)— In May 2022, the BPU approved PSE&G’s filing for an annual gas revenue increase of $25 million effective June 1, 2022. This increase represents the return on and of GSMP II investments placed in service through February 2022. In November 2022, the BPU approved PSE&G’s updated GSMP II cost recovery filing to recover an annual gas revenue increase of $23 million effective December 1, 2022. This increase represents the return on and of GSMP II investments placed in service through August 31, 2022. In December 2022, PSE&G filed its next semiannual GSMP II cost recovery petition seeking BPU approval to recover in gas base rates an estimated annual revenue increase of approximately $11 million effective June 1, 2023. • GPRC— In June 2022, the BPU approved PSE&G’s updated filing for an annual electric revenue decrease of approximately $4 million and a gas revenue increase of approximately $1 million, with new rates effective June 15, 2022. In July 2022, PSE&G filed its 2022 GPRC cost recovery petition requesting BPU approval to recover increases of $110 million and $8 million in annual electric and gas revenues, respectively. This matter is pending. In September 2022, PSE&G filed a petition which requested an increase of $320 million in its total program investment spending for the CEF-EE component of GPRC and a nine month extension to the program to make the investments. This matter is pending. • Pension— In February 2023, the BPU approved an accounting order authorizing PSE&G to modify its method for calculating the amortization of the net actuarial gain or loss component of pension expense for ratemaking purposes. This methodology change for ratemaking purposes is effective for the calendar year ending December 31, 2023 and forward. • RAC— In September 2022, the BPU approved PSE&G’s RAC 29 filing allowing recovery of approximately $44 million of net MGP remediation expenditures incurred from August 1, 2020 through July 31, 2021. In January 2023, PSE&G filed its RAC 30 petition with the BPU seeking recovery of approximately $44 million of net MGP expenditures incurred from August 1, 2021 through July 31, 2022. This matter is pending. • SuSI Program, a New Component of the GPRC— In June 2022, the BPU approved PSE&G’s filing to recover an annual electric revenue increase of $38 million effective June 15, 2022. These costs will be recovered as a new component of PSE&G’s existing electric GPRC. • SBC— In January 2023, PSE&G filed a petition to increase its annual electric and gas rates by approximately $52 million and $32 million, respectively, in order to recover electric and gas costs incurred or expected to be incurred through February 2024 under its EE and Renewable Energy and Social Programs. The increase to electric rates includes the impact of increased bad debt expense as a result of the negative economic impact of the coronavirus pandemic and the resulting impact of moratoriums on collections. This matter is pending. • TAC— In June 2022, the BPU approved PSE&G’s annual 2021 TAC filing to increase annual electric and gas revenues by approximately $15 million and $31 million, respectively. The new rates were effective June 15, 2022. In October 2022, PSE&G made its annual 2022 TAC filing requesting BPU approval to increase electric revenues and decrease gas revenues by approximately $17 million and $70 million, respectively, on an annual basis starting January 1, 2023. This matter is pending. • Transmission Formula Rates— In June 2022, PSE&G filed its 2021 true-up adjustment pertaining to its transmission formula rates in effect for 2021. This filing resulted in a decrease in the 2021 annual revenue requirement of $1 million less than the 2021 original and updated filings, incorporating the FERC-approved settlement agreement effective August 1, 2021. In October 2022, PSE&G filed its Annual Transmission Formula Rate Update with FERC which will result in $69 million in increased annual transmission revenue effective January 1, 2023, subject to true-up. • ZEC Program— In April 2022, the BPU approved PSE&G’s petition to refund a total of $4 million to customers, including interest, for overcollections resulting from the ZEC program for the energy year ended May 31, 2021. In January 2023, the BPU approved PSE&G’s petition to set the ZEC refund component of the tariff rate to zero effective February 1, 2023. For the ZEC Energy Year ended May 31, 2022, PSE&G purchased approximately $161 million in ZECs including interest, from the eligible nuclear plants selected by the BPU with the final payment made in August 2022. As a result of the collections and required ZEC payments, there were overcollected revenues, including interest totaling $1.3 million, which PSE&G refunded to customers over the remainder of 2022 through January 2023 through its existing rates.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases	Leases As of December 31, 2022, PSEG and its subsidiaries were both a lessee and a lessor in operating leases. Lessee PSE&G PSE&G has operating leases for office space for customer service centers, rooftops and land for its Solar 4 All ® facilities, equipment, vehicles and land for certain electric substations. These leases have remaining lease terms through 2040, some of which include options to extend the leases for up to four 5-year terms or one 10-year term; and two include options to extend the leases for one 45-year and one 48-year term, respectively. Some leases have fixed rent payments that have escalations based on certain indices, such as the CPI. Certain leases contain variable payments. PSEG Power & Other PSEG Power has operating leases for buildings, merchant transmission and equipment. These leases have remaining terms through 2025, one of which includes an option to extend the lease for up to one 5-year term. One lease has fixed rent payments that has escalations based on the CPI. Certain leases contain variable payments. Services has operating leases for real estate and office equipment. These leases have remaining terms through 2030. Services’ lease for its headquarters, which ends in 2030, includes options to extend for two 5-year terms. Operating Lease Costs The following amounts relate to total operating lease costs, including both amounts recognized in the Consolidated Statements of Operations during the years ended December 31, 2022, 2021 and 2020 and any amounts capitalized as part of the cost of another asset, and the cash flows arising from lease transactions. PSE&G PSEG Power & Other Total Millions Operating Lease Costs Year Ended December 31, 2022 Long-term Lease Costs $ 31 $ 25 $ 56 Short-term Lease Costs 21 5 26 Variable Lease Costs 2 11 13 Total Operating Lease Costs $ 54 $ 41 $ 95 Year Ended December 31, 2022 Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities $ 17 $ 25 $ 42 Weighted Average Remaining Lease Term in Years 11 7 9 Weighted Average Discount Rate 3.5 % 4.1 % 3.9 % PSE&G PSEG Power & Other Total Millions Operating Lease Costs Year Ended December 31, 2021 Long-term Lease Costs $ 24 $ 26 $ 50 Short-term Lease Costs 36 6 42 Variable Lease Costs 2 18 20 Total Operating Lease Costs $ 62 $ 50 $ 112 Year Ended December 31, 2021 Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities $ 17 $ 26 $ 43 Weighted Average Remaining Lease Term in Years 12 8 9 Weighted Average Discount Rate 3.4 % 4.1 % 3.8 % PSE&G PSEG Power & Other Total Millions Operating Lease Costs Year Ended December 31, 2020 Long-term Lease Costs $ 26 $ 28 $ 54 Short-term Lease Costs 38 7 45 Variable Lease Costs 2 29 31 Total Operating Lease Costs $ 66 $ 64 $ 130 Year Ended December 31, 2020 Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities $ 17 $ 28 $ 45 Weighted Average Remaining Lease Term in Years 12 11 11 Weighted Average Discount Rate 3.5 % 4.3 % 4.0 % Operating lease liabilities as of December 31, 2022 had the following maturities on an undiscounted basis: PSE&G PSEG Power & Other Total Millions 2023 $ 15 $ 20 $ 35 2024 12 16 28 2025 10 15 25 2026 8 15 23 2027 8 16 24 Thereafter 56 44 100 Total Minimum Lease Payments $ 109 $ 126 $ 235 The following is a reconciliation of the undiscounted cash flows to the discounted Operating Lease Liabilities recognized on the Consolidated Balance Sheets: As of December 31, 2022 PSE&G PSEG Power & Other Total Millions Undiscounted Cash Flows $ 109 $ 126 $ 235 Reconciling Amount due to Discount Rate (20) (18) (38) Total Discounted Operating Lease Liabilities $ 89 $ 108 $ 197 As of December 31, 2021 PSE&G PSEG Power & Other Total Millions Undiscounted Cash Flows $ 117 $ 152 $ 269 Reconciling Amount due to Discount Rate (22) (23) (45) Total Discounted Operating Lease Liabilities $ 95 $ 129 $ 224 As of December 31, 2022, the current portions of Operating Lease Liabilities included in Other Current Liabilities were $28 million and $12 million for PSEG and PSE&G, respectively. As of December 31, 2021, the current portions of Operating Lease Liabilities included in Other Current Liabilities were $33 million and $12 million for PSEG and PSE&G, respectively. Lessor PSEG Power & Other Energy Holdings is the lessor in leveraged leases. See Note 9. Long-Term Investments and Note 10. 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 in real estate assets with remaining terms through 2049. In 2022, Energy Holdings recorded pre-tax impairments of $78 million related to one of its domestic energy generating facilities and its real estate assets. As of December 31, 2022, Energy Holdings’ property subject to these leases had a total carrying value of $51 million, including Assets Held for Sale of $20 million. Energy Holdings was previously the lessor in operating leases for real estate assets which were sold in March 2020. 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 of Solar Source in June 2021, 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. The following is the operating lease income for the years ended December 31, 2022, 2021 and 2020: Operating Lease Income Millions Year Ended December 31, 2022 Fixed Lease Income $ 31 Variable Lease Income — Total Operating Lease Income $ 31 Year Ended December 31, 2021 Fixed Lease Income $ 23 Variable Lease Income 12 Total Operating Lease Income $ 35 Year Ended December 31, 2020 Fixed Lease Income $ 15 Variable Lease Income 26 Total Operating Lease Income $ 41 Operating leases had the following minimum future fixed lease receipts as of December 31, 2022: Millions 2023 $ 19 2024 19 2025 19 2026 19 2027 14 Thereafter 124 Total Minimum Future Lease Receipts $ 214
Public Service Electric and Gas Company
Leases	Leases As of December 31, 2022, PSEG and its subsidiaries were both a lessee and a lessor in operating leases. Lessee PSE&G PSE&G has operating leases for office space for customer service centers, rooftops and land for its Solar 4 All ® facilities, equipment, vehicles and land for certain electric substations. These leases have remaining lease terms through 2040, some of which include options to extend the leases for up to four 5-year terms or one 10-year term; and two include options to extend the leases for one 45-year and one 48-year term, respectively. Some leases have fixed rent payments that have escalations based on certain indices, such as the CPI. Certain leases contain variable payments. PSEG Power & Other PSEG Power has operating leases for buildings, merchant transmission and equipment. These leases have remaining terms through 2025, one of which includes an option to extend the lease for up to one 5-year term. One lease has fixed rent payments that has escalations based on the CPI. Certain leases contain variable payments. Services has operating leases for real estate and office equipment. These leases have remaining terms through 2030. Services’ lease for its headquarters, which ends in 2030, includes options to extend for two 5-year terms. Operating Lease Costs The following amounts relate to total operating lease costs, including both amounts recognized in the Consolidated Statements of Operations during the years ended December 31, 2022, 2021 and 2020 and any amounts capitalized as part of the cost of another asset, and the cash flows arising from lease transactions. PSE&G PSEG Power & Other Total Millions Operating Lease Costs Year Ended December 31, 2022 Long-term Lease Costs $ 31 $ 25 $ 56 Short-term Lease Costs 21 5 26 Variable Lease Costs 2 11 13 Total Operating Lease Costs $ 54 $ 41 $ 95 Year Ended December 31, 2022 Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities $ 17 $ 25 $ 42 Weighted Average Remaining Lease Term in Years 11 7 9 Weighted Average Discount Rate 3.5 % 4.1 % 3.9 % PSE&G PSEG Power & Other Total Millions Operating Lease Costs Year Ended December 31, 2021 Long-term Lease Costs $ 24 $ 26 $ 50 Short-term Lease Costs 36 6 42 Variable Lease Costs 2 18 20 Total Operating Lease Costs $ 62 $ 50 $ 112 Year Ended December 31, 2021 Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities $ 17 $ 26 $ 43 Weighted Average Remaining Lease Term in Years 12 8 9 Weighted Average Discount Rate 3.4 % 4.1 % 3.8 % PSE&G PSEG Power & Other Total Millions Operating Lease Costs Year Ended December 31, 2020 Long-term Lease Costs $ 26 $ 28 $ 54 Short-term Lease Costs 38 7 45 Variable Lease Costs 2 29 31 Total Operating Lease Costs $ 66 $ 64 $ 130 Year Ended December 31, 2020 Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities $ 17 $ 28 $ 45 Weighted Average Remaining Lease Term in Years 12 11 11 Weighted Average Discount Rate 3.5 % 4.3 % 4.0 % Operating lease liabilities as of December 31, 2022 had the following maturities on an undiscounted basis: PSE&G PSEG Power & Other Total Millions 2023 $ 15 $ 20 $ 35 2024 12 16 28 2025 10 15 25 2026 8 15 23 2027 8 16 24 Thereafter 56 44 100 Total Minimum Lease Payments $ 109 $ 126 $ 235 The following is a reconciliation of the undiscounted cash flows to the discounted Operating Lease Liabilities recognized on the Consolidated Balance Sheets: As of December 31, 2022 PSE&G PSEG Power & Other Total Millions Undiscounted Cash Flows $ 109 $ 126 $ 235 Reconciling Amount due to Discount Rate (20) (18) (38) Total Discounted Operating Lease Liabilities $ 89 $ 108 $ 197 As of December 31, 2021 PSE&G PSEG Power & Other Total Millions Undiscounted Cash Flows $ 117 $ 152 $ 269 Reconciling Amount due to Discount Rate (22) (23) (45) Total Discounted Operating Lease Liabilities $ 95 $ 129 $ 224 As of December 31, 2022, the current portions of Operating Lease Liabilities included in Other Current Liabilities were $28 million and $12 million for PSEG and PSE&G, respectively. As of December 31, 2021, the current portions of Operating Lease Liabilities included in Other Current Liabilities were $33 million and $12 million for PSEG and PSE&G, respectively. Lessor PSEG Power & Other Energy Holdings is the lessor in leveraged leases. See Note 9. Long-Term Investments and Note 10. 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 in real estate assets with remaining terms through 2049. In 2022, Energy Holdings recorded pre-tax impairments of $78 million related to one of its domestic energy generating facilities and its real estate assets. As of December 31, 2022, Energy Holdings’ property subject to these leases had a total carrying value of $51 million, including Assets Held for Sale of $20 million. Energy Holdings was previously the lessor in operating leases for real estate assets which were sold in March 2020. 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 of Solar Source in June 2021, 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. The following is the operating lease income for the years ended December 31, 2022, 2021 and 2020: Operating Lease Income Millions Year Ended December 31, 2022 Fixed Lease Income $ 31 Variable Lease Income — Total Operating Lease Income $ 31 Year Ended December 31, 2021 Fixed Lease Income $ 23 Variable Lease Income 12 Total Operating Lease Income $ 35 Year Ended December 31, 2020 Fixed Lease Income $ 15 Variable Lease Income 26 Total Operating Lease Income $ 41 Operating leases had the following minimum future fixed lease receipts as of December 31, 2022: Millions 2023 $ 19 2024 19 2025 19 2026 19 2027 14 Thereafter 124 Total Minimum Future Lease Receipts $ 214

Long-Term Investments

Long-Term Investments	12 Months Ended
	Dec. 31, 2022
Long-Term Investments [Line Items]
Long-Term Investments [Text Block]	Long-Term Investments Long-Term Investments as of December 31, 2022 and 2021 included the following: As of December 31, 2022 2021 Millions PSE&G Life Insurance and Supplemental Benefits $ 81 $ 89 Solar Loans 62 92 PSEG Power & Other Lease Investments 175 187 Equity Method Investments (A) 306 173 Total Long-Term Investments $ 624 $ 541 (A) During the three years ended December 31, 2022, 2021 and 2020, dividends from these investments were $8 million, $17 million and $15 million, respectively. Leases Energy Holdings, through its indirect subsidiaries, has investments in assets subject primarily 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 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, reduced for any income not yet earned on the leases. This amount is included in Long-Term Investments on PSEG’s 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 Consolidated Balance Sheets. Leveraged leases outstanding as of December 31, 2022 commenced in or prior to 2000.The following table shows Energy Holdings’ gross and net lease investment as of December 31, 2022 and 2021. As of December 31, 2022 2021 Millions Lease Receivables (net of Non-Recourse Debt) $ 249 $ 274 Estimated Residual Value of Leased Assets — — Total Investment in Rental Receivables 249 274 Unearned and Deferred Income (74) (87) Gross Investments in Leases 175 187 Deferred Tax Liabilities (39) (42) Net Investments in Leases $ 136 $ 145 The pre-tax income and income tax effects related to investments in leases, excluding gains and losses on sales and the impacts of the Tax Act, were as follows: Years Ended December 31, 2022 2021 2020 Millions Pre-Tax Income from Leases $ 13 $ 13 $ 18 Income Tax Expense on Income from Leases $ 3 $ 3 $ 2 Equity Method Investment PSEG had a 25% equity interest in Ørsted’s Ocean Wind 1 project of $225 million and $111 million as of December 31, 2022 and 2021, respectively. For additional information see Note 5. Variable Interest Entities.
Public Service Electric and Gas Company
Long-Term Investments [Line Items]
Long-Term Investments [Text Block]	Long-Term Investments Long-Term Investments as of December 31, 2022 and 2021 included the following: As of December 31, 2022 2021 Millions PSE&G Life Insurance and Supplemental Benefits $ 81 $ 89 Solar Loans 62 92 PSEG Power & Other Lease Investments 175 187 Equity Method Investments (A) 306 173 Total Long-Term Investments $ 624 $ 541 (A) During the three years ended December 31, 2022, 2021 and 2020, dividends from these investments were $8 million, $17 million and $15 million, respectively. Leases Energy Holdings, through its indirect subsidiaries, has investments in assets subject primarily 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 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, reduced for any income not yet earned on the leases. This amount is included in Long-Term Investments on PSEG’s 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 Consolidated Balance Sheets. Leveraged leases outstanding as of December 31, 2022 commenced in or prior to 2000.The following table shows Energy Holdings’ gross and net lease investment as of December 31, 2022 and 2021. As of December 31, 2022 2021 Millions Lease Receivables (net of Non-Recourse Debt) $ 249 $ 274 Estimated Residual Value of Leased Assets — — Total Investment in Rental Receivables 249 274 Unearned and Deferred Income (74) (87) Gross Investments in Leases 175 187 Deferred Tax Liabilities (39) (42) Net Investments in Leases $ 136 $ 145 The pre-tax income and income tax effects related to investments in leases, excluding gains and losses on sales and the impacts of the Tax Act, were as follows: Years Ended December 31, 2022 2021 2020 Millions Pre-Tax Income from Leases $ 13 $ 13 $ 18 Income Tax Expense on Income from Leases $ 3 $ 3 $ 2 Equity Method Investment PSEG had a 25% equity interest in Ørsted’s Ocean Wind 1 project of $225 million and $111 million as of December 31, 2022 and 2021, respectively. For additional information see Note 5. Variable Interest Entities.

Financing Receivables

Financing Receivables	12 Months Ended
	Dec. 31, 2022
Financing Receivable, Recorded Investment [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 December 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 Consolidated Balance Sheets. The following table reflects the outstanding loans by class of customer, none of which would be considered “non-performing.” As of December 31, Outstanding Loans by Class of Customer 2022 2021 Millions Commercial/Industrial $ 85 $ 116 Residential 4 5 Total 89 121 Current Portion (included in Accounts Receivable) (27) (29) Noncurrent Portion (included in Long-Term Investments) $ 62 $ 92 The solar loans originated under three Solar Loan Programs are comprised as follows: Programs Balance as of December 31, 2022 Funding Provided Residential Loan Term Non-Residential Loan Term Millions Solar Loan I $ 9 prior to 2013 10 years 15 years Solar Loan II 42 prior to 2015 10 years 15 years Solar Loan III 38 largely funded as of December 31, 2022 10 years 10 years Total $ 89 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 December 31, 2022 and have an average remaining life of approximately three years. There are no remaining residential loans outstanding under the Solar Loan I program. Energy Holdings Energy Holdings had net investments in assets subject to leveraged lease accounting of $136 million as of December 31, 2022 and $145 million as of December 31, 2021 (see Note 9. Long-Term Investments). 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’ Credit Rating Standard & Poor’s (S&P) as of December 31, 2022 As of December 31, 2022 Millions AA $ 8 A- 47 BBB+ to BBB 194 Total $ 249 PSEG recorded no credit losses for the leveraged leases existing on December 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
Financing Receivable, Recorded Investment [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 December 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 Consolidated Balance Sheets. The following table reflects the outstanding loans by class of customer, none of which would be considered “non-performing.” As of December 31, Outstanding Loans by Class of Customer 2022 2021 Millions Commercial/Industrial $ 85 $ 116 Residential 4 5 Total 89 121 Current Portion (included in Accounts Receivable) (27) (29) Noncurrent Portion (included in Long-Term Investments) $ 62 $ 92 The solar loans originated under three Solar Loan Programs are comprised as follows: Programs Balance as of December 31, 2022 Funding Provided Residential Loan Term Non-Residential Loan Term Millions Solar Loan I $ 9 prior to 2013 10 years 15 years Solar Loan II 42 prior to 2015 10 years 15 years Solar Loan III 38 largely funded as of December 31, 2022 10 years 10 years Total $ 89 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 December 31, 2022 and have an average remaining life of approximately three years. There are no remaining residential loans outstanding under the Solar Loan I program. Energy Holdings Energy Holdings had net investments in assets subject to leveraged lease accounting of $136 million as of December 31, 2022 and $145 million as of December 31, 2021 (see Note 9. Long-Term Investments). 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’ Credit Rating Standard & Poor’s (S&P) as of December 31, 2022 As of December 31, 2022 Millions AA $ 8 A- 47 BBB+ to BBB 194 Total $ 249 PSEG recorded no credit losses for the leveraged leases existing on December 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	12 Months Ended
	Dec. 31, 2022
Schedule of Trust Investments [Line Items]
Trust Investments [Text Block]	Trust Investments NDT Fund In accordance with NRC regulations, entities owning an interest in nuclear generating facilities are required to determine the costs and funding methods necessary to decommission such facilities upon termination of operation. As a general practice, each nuclear owner places funds in independent external trust accounts it maintains to provide for decommissioning. PSEG Power is required to file periodic reports with the NRC demonstrating that its NDT Fund meets the formula-based minimum NRC funding requirements. 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. PSEG Power’s share of decommissioning costs related to its five nuclear units was estimated to be between $3.0 billion and $3.4 billion, including contingencies. The liability for decommissioning recorded on a discounted basis as of December 31, 2022 was approximately $1.1 billion and is included in the ARO. 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 December 31, 2022 Cost Gross Gross Fair Millions Equity Securities Domestic $ 476 $ 232 $ (12) $ 696 International 336 68 (28) 376 Total Equity Securities 812 300 (40) 1,072 Available-for-Sale Debt Securities Government 721 — (94) 627 Corporate 597 1 (69) 529 Total Available-for-Sale Debt Securities 1,318 1 (163) 1,156 Total NDT Fund Investments (A) $ 2,130 $ 301 $ (203) $ 2,228 (A) The NDT Fund Investments table excludes cash and foreign currency of $2 million as of December 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 cash and foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund. Net unrealized gains (losses) on debt securities of $(95) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Consolidated Balance Sheet as of December 31, 2022. The portion of net unrealized gains (losses) recognized during 2022 related to equity securities still held at the end of December 31, 2022 was $(163) 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 Consolidated Balance Sheets as shown in the following table. As of December 31, 2022 2021 Millions Accounts Receivable $ 14 $ 11 Accounts Payable $ 6 $ 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 December 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 $ 90 $ (10) $ 9 $ (2) $ 69 $ (3) $ — $ — International 88 (12) 38 (16) 76 (13) 9 (2) Total Equity Securities 178 (22) 47 (18) 145 (16) 9 (2) Available-for-Sale Debt Securities Government (B) 301 (27) 292 (67) 332 (5) 67 (3) Corporate (C) 221 (21) 249 (48) 306 (4) 30 (2) Total Available-for-Sale Debt Securities 522 (48) 541 (115) 638 (9) 97 (5) NDT Trust Investments $ 700 $ (70) $ 588 $ (133) $ 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 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: Years Ended December 31, 2022 2021 2020 Millions Proceeds from Sales (A) $ 1,521 $ 1,930 $ 2,031 Net Realized Gains (Losses): Gross Realized Gains $ 86 $ 236 $ 214 Gross Realized Losses (136) (70) (94) Net Realized Gains (Losses) on NDT Fund (B) (50) 166 120 Net Unrealized Gains (Losses) on Equity Securities (205) 19 120 Impairment of Available-for-Sale Debt Securities (C) — — (3) Net Gains (Losses) on NDT Fund Investments $ (255) $ 185 $ 237 (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. (C) PSEG Power recognized an impairment of available-for-sale debt securities in 2020. PSEG Power’s policy is to sell all securities that are rated below investment grade. The NDT Fund debt securities held as of December 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ 12 1 - 5 years 319 6 - 10 years 221 11 - 15 years 62 16 - 20 years 96 Over 20 years 446 Total NDT Available-for-Sale Debt Securities $ 1,156 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 December 31, 2022 Cost Gross Gross Fair Millions Domestic Equity Securities $ 14 $ 6 $ — $ 20 Available-for-Sale Debt Securities Government 110 — (21) 89 Corporate 89 — (15) 74 Total Available-for-Sale Debt Securities 199 — (36) 163 Total Rabbi Trust Investments $ 213 $ 6 $ (36) $ 183 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 gains (losses) on debt securities of $(26) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Consolidated Balance Sheet as of December 31, 2022. The portion of net unrealized gains (losses) recognized during 2022 related to equity securities still held at the end of December 31, 2022 was $(6) 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 Consolidated Balance Sheets as shown in the following table. As of December 31, 2022 2021 Millions Accounts Receivable $ 1 $ 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 and greater than 12 months: As of December 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) $ 32 $ (5) $ 57 $ (16) $ 57 $ — $ 16 $ (1) Corporate (B) 35 (5) 39 (10) 40 (1) 5 — Total Available-for-Sale Debt Securities 67 (10) 96 (26) 97 (1) 21 (1) Rabbi Trust Investments $ 67 $ (10) $ 96 $ (26) $ 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 corporate bonds because they are primarily investment grade. The proceeds from the sales of and the net gains (losses) on securities in the Rabbi Trust Fund were: Years Ended December 31, 2022 2021 2020 Millions Proceeds from Rabbi Trust Sales $ 65 $ 170 $ 203 Net Realized Gains (Losses): Gross Realized Gains $ 5 $ 16 $ 19 Gross Realized Losses (9) (8) (6) Net Realized Gains (Losses) on Rabbi Trust (A) (4) 8 13 Net Unrealized Gains (Losses) on Equity Securities (6) 1 3 Net Gains (Losses) on Rabbi Trust Investments $ (10) $ 9 $ 16 (A) The cost of these securities was determined on the basis of specific identification. The Rabbi Trust debt securities held as of December 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ — 1 - 5 years 29 6 - 10 years 23 11 - 15 years 7 16 - 20 years 16 Over 20 years 88 Total Rabbi Trust Available-for-Sale Debt Securities $ 163 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 are detailed as follows: As of December 31, As of December 31, 2022 2021 Millions PSE&G $ 32 $ 43 PSEG Power & Other 151 199 Total Rabbi Trust Investments $ 183 $ 242
Public Service Electric and Gas Company
Schedule of Trust Investments [Line Items]
Trust Investments [Text Block]	Trust Investments NDT Fund In accordance with NRC regulations, entities owning an interest in nuclear generating facilities are required to determine the costs and funding methods necessary to decommission such facilities upon termination of operation. As a general practice, each nuclear owner places funds in independent external trust accounts it maintains to provide for decommissioning. PSEG Power is required to file periodic reports with the NRC demonstrating that its NDT Fund meets the formula-based minimum NRC funding requirements. 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. PSEG Power’s share of decommissioning costs related to its five nuclear units was estimated to be between $3.0 billion and $3.4 billion, including contingencies. The liability for decommissioning recorded on a discounted basis as of December 31, 2022 was approximately $1.1 billion and is included in the ARO. 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 December 31, 2022 Cost Gross Gross Fair Millions Equity Securities Domestic $ 476 $ 232 $ (12) $ 696 International 336 68 (28) 376 Total Equity Securities 812 300 (40) 1,072 Available-for-Sale Debt Securities Government 721 — (94) 627 Corporate 597 1 (69) 529 Total Available-for-Sale Debt Securities 1,318 1 (163) 1,156 Total NDT Fund Investments (A) $ 2,130 $ 301 $ (203) $ 2,228 (A) The NDT Fund Investments table excludes cash and foreign currency of $2 million as of December 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 cash and foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund. Net unrealized gains (losses) on debt securities of $(95) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Consolidated Balance Sheet as of December 31, 2022. The portion of net unrealized gains (losses) recognized during 2022 related to equity securities still held at the end of December 31, 2022 was $(163) 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 Consolidated Balance Sheets as shown in the following table. As of December 31, 2022 2021 Millions Accounts Receivable $ 14 $ 11 Accounts Payable $ 6 $ 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 December 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 $ 90 $ (10) $ 9 $ (2) $ 69 $ (3) $ — $ — International 88 (12) 38 (16) 76 (13) 9 (2) Total Equity Securities 178 (22) 47 (18) 145 (16) 9 (2) Available-for-Sale Debt Securities Government (B) 301 (27) 292 (67) 332 (5) 67 (3) Corporate (C) 221 (21) 249 (48) 306 (4) 30 (2) Total Available-for-Sale Debt Securities 522 (48) 541 (115) 638 (9) 97 (5) NDT Trust Investments $ 700 $ (70) $ 588 $ (133) $ 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 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: Years Ended December 31, 2022 2021 2020 Millions Proceeds from Sales (A) $ 1,521 $ 1,930 $ 2,031 Net Realized Gains (Losses): Gross Realized Gains $ 86 $ 236 $ 214 Gross Realized Losses (136) (70) (94) Net Realized Gains (Losses) on NDT Fund (B) (50) 166 120 Net Unrealized Gains (Losses) on Equity Securities (205) 19 120 Impairment of Available-for-Sale Debt Securities (C) — — (3) Net Gains (Losses) on NDT Fund Investments $ (255) $ 185 $ 237 (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. (C) PSEG Power recognized an impairment of available-for-sale debt securities in 2020. PSEG Power’s policy is to sell all securities that are rated below investment grade. The NDT Fund debt securities held as of December 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ 12 1 - 5 years 319 6 - 10 years 221 11 - 15 years 62 16 - 20 years 96 Over 20 years 446 Total NDT Available-for-Sale Debt Securities $ 1,156 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 December 31, 2022 Cost Gross Gross Fair Millions Domestic Equity Securities $ 14 $ 6 $ — $ 20 Available-for-Sale Debt Securities Government 110 — (21) 89 Corporate 89 — (15) 74 Total Available-for-Sale Debt Securities 199 — (36) 163 Total Rabbi Trust Investments $ 213 $ 6 $ (36) $ 183 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 gains (losses) on debt securities of $(26) million (after-tax) were included in Accumulated Other Comprehensive Loss on PSEG’s Consolidated Balance Sheet as of December 31, 2022. The portion of net unrealized gains (losses) recognized during 2022 related to equity securities still held at the end of December 31, 2022 was $(6) 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 Consolidated Balance Sheets as shown in the following table. As of December 31, 2022 2021 Millions Accounts Receivable $ 1 $ 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 and greater than 12 months: As of December 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) $ 32 $ (5) $ 57 $ (16) $ 57 $ — $ 16 $ (1) Corporate (B) 35 (5) 39 (10) 40 (1) 5 — Total Available-for-Sale Debt Securities 67 (10) 96 (26) 97 (1) 21 (1) Rabbi Trust Investments $ 67 $ (10) $ 96 $ (26) $ 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 corporate bonds because they are primarily investment grade. The proceeds from the sales of and the net gains (losses) on securities in the Rabbi Trust Fund were: Years Ended December 31, 2022 2021 2020 Millions Proceeds from Rabbi Trust Sales $ 65 $ 170 $ 203 Net Realized Gains (Losses): Gross Realized Gains $ 5 $ 16 $ 19 Gross Realized Losses (9) (8) (6) Net Realized Gains (Losses) on Rabbi Trust (A) (4) 8 13 Net Unrealized Gains (Losses) on Equity Securities (6) 1 3 Net Gains (Losses) on Rabbi Trust Investments $ (10) $ 9 $ 16 (A) The cost of these securities was determined on the basis of specific identification. The Rabbi Trust debt securities held as of December 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ — 1 - 5 years 29 6 - 10 years 23 11 - 15 years 7 16 - 20 years 16 Over 20 years 88 Total Rabbi Trust Available-for-Sale Debt Securities $ 163 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 are detailed as follows: As of December 31, As of December 31, 2022 2021 Millions PSE&G $ 32 $ 43 PSEG Power & Other 151 199 Total Rabbi Trust Investments $ 183 $ 242

Intangibles

Intangibles	12 Months Ended
	Dec. 31, 2022
Goodwill [Line Items]
Goodwill And Other Intangibles	Intangibles As of December 31, 2022 and 2021, PSEG had intangible assets of $14 million and $20 million, respectively, related to RECs, which are recorded at cost and evaluated for impairment at least annually. As load is served under contracts requiring energy from renewable sources, the related expense is recorded. The changes to PSEG’s intangible assets during 2021 and 2022 are as follows: Emissions Allowances RECs Total Intangibles Millions Balance as of January 1, 2021 $ 112 $ 46 $ 158 Retirements (58) (114) (172) Purchases 9 89 98 Sales and Transfers (A) (62) (1) (63) Impairments (1) — (1) Balance as of December 31, 2021 $ — $ 20 $ 20 Retirements — (76) (76) Purchases — 70 70 Balance as of December 31, 2022 $ — $ 14 $ 14

Asset Retirement Obligations (A

Asset Retirement Obligations (AROs)	12 Months Ended
	Dec. 31, 2022
Asset Retirement Obligation [Line Items]
Asset Retirement Obligations (AROs)	Asset Retirement Obligations (AROs) PSEG and PSE&G recognize liabilities for the expected cost of retiring long-lived assets for which a legal obligation exists to remove or dispose of an asset or some component of an asset at retirement. These AROs are recorded at fair value in the period in which they are incurred and are capitalized as part of the carrying amount of the related long-lived assets. PSEG’s subsidiaries, except for PSE&G, accrete the ARO liability to reflect the passage of time with the corresponding expense recorded in O&M. PSE&G, as a rate-regulated entity, recognizes Regulatory Assets or Liabilities as a result of timing differences between the recording of costs and costs recovered through the rate-making process. PSE&G has conditional AROs primarily for legal obligations related to the removal of treated wood poles and the requirement to seal natural gas pipelines at all sources of gas when the pipelines are no longer in service. PSE&G does not record an ARO for its protected steel and poly-based natural gas lines, as management believes that these categories of gas lines have an indeterminable life. PSEG’s other ARO liability primarily relates to decommissioning of its nuclear power plants in accordance with NRC requirements. PSEG has an independent external trust that is intended to fund decommissioning of its nuclear facilities upon termination of operation. For additional information, see Note 11. Trust Investments. PSEG also identified conditional AROs related to PSEG’s retained fossil generation sites primarily related to liabilities for removal of asbestos. To estimate the fair value of its other AROs, PSEG uses a probability weighted, discounted cash flow model which, on a unit by unit basis, considers multiple outcome scenarios that include significant estimates and assumptions, and are based on third-party decommissioning cost estimates, cost escalation rates, inflation rates and discount rates. Updated nuclear cost studies are obtained triennially unless new information necessitates more frequent updates. The most recent cost study was done in 2021. When assumptions are revised to calculate fair values of existing AROs, generally, the ARO balance and corresponding long-lived asset are adjusted which impact the amount of accretion and depreciation expense recognized in future periods. For PSE&G, Regulatory Assets and Regulatory Liabilities result when accretion and amortization are adjusted to match rates established by regulators resulting in the regulatory deferral of any gain or loss. The changes to the ARO liabilities for PSEG and PSE&G during 2021 and 2022 are presented in the following table: PSEG PSE&G PSEG Power & Other Millions ARO Liability as of January 1, 2021 $ 1,212 $ 314 $ 898 Liabilities Settled (15) (14) (1) Adjustments (B) (37) — (37) Accretion Expense 44 — 44 Accretion Expense Deferred and Recovered in Rate Base (A) 16 16 — Revision to Present Values of Estimated Cash Flows 353 47 306 ARO Liability as of December 31, 2021 $ 1,573 $ 363 $ 1,210 Liabilities Settled $ (15) $ (15) $ — Accretion Expense 50 — 50 Accretion Expense Deferred and Recovered in Rate Base (A) 17 17 — Revision to Present Values of Estimated Cash Flows (126) 19 (145) ARO Liability as of December 31, 2022 $ 1,499 $ 384 $ 1,115 (A) Not reflected as expense in Consolidated Statements of Operations. (B) Represents amounts related to the sale of the solar plants and the fossil generating assets classified as Held for Sale. 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 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. In August 2022, the IRA was signed into law expanding incentives promoting carbon-free generation. The enacted legislation established a PTC for electricity generation using nuclear energy set to begin in 2024 through 2032. As a result, PSEG reassessed the Asset Retirement Cost (ARC) and ARO assumptions related to its nuclear units. This resulted in a decrease to the ARC asset and ARO liability of $145 million primarily due to an adjustment in the assumed estimated timing of cash flows associated with decommissioning the units. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information on PTCs. During 2021, PSE&G recorded an increase to its ARO liabilities primarily due to the impact of increases in labor rates and other costs, partially offset by decreases from changes in inflation and discount rate assumptions. Those changes had no impact on PSE&G’s Consolidated Statement of Operations. In April 2021, the BPU awarded ZECs to PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants for an additional three years through May 2025. Concurrent with the BPU’s decision, PSEG reassessed the ARC and ARO assumptions related to the Salem and Hope Creek units. This resulted in an increase to the ARC asset and ARO liability of $51 million, primarily due to lower discount rates and higher inflation. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information on ZECs. In December 2021, PSEG recorded an additional increase to its ARO liabilities primarily due to changes in decommissioning assumptions related to its nuclear units of $255 million. The changes in the decommissioning assumptions relate to the inclusion of certain spent fuel costs and previously assumed levels of reimbursement by the federal government as prescribed under the Nuclear Waste Policy Act. These changes had an immaterial impact on PSEG’s Consolidated Statement of Operations. In addition, PSEG reviewed its probabilities of early retirement on its nuclear units and concluded that no adjustments were necessary as of December 31, 2021.
Public Service Electric and Gas Company
Asset Retirement Obligation [Line Items]
Asset Retirement Obligations (AROs)	Asset Retirement Obligations (AROs) PSEG and PSE&G recognize liabilities for the expected cost of retiring long-lived assets for which a legal obligation exists to remove or dispose of an asset or some component of an asset at retirement. These AROs are recorded at fair value in the period in which they are incurred and are capitalized as part of the carrying amount of the related long-lived assets. PSEG’s subsidiaries, except for PSE&G, accrete the ARO liability to reflect the passage of time with the corresponding expense recorded in O&M. PSE&G, as a rate-regulated entity, recognizes Regulatory Assets or Liabilities as a result of timing differences between the recording of costs and costs recovered through the rate-making process. PSE&G has conditional AROs primarily for legal obligations related to the removal of treated wood poles and the requirement to seal natural gas pipelines at all sources of gas when the pipelines are no longer in service. PSE&G does not record an ARO for its protected steel and poly-based natural gas lines, as management believes that these categories of gas lines have an indeterminable life. PSEG’s other ARO liability primarily relates to decommissioning of its nuclear power plants in accordance with NRC requirements. PSEG has an independent external trust that is intended to fund decommissioning of its nuclear facilities upon termination of operation. For additional information, see Note 11. Trust Investments. PSEG also identified conditional AROs related to PSEG’s retained fossil generation sites primarily related to liabilities for removal of asbestos. To estimate the fair value of its other AROs, PSEG uses a probability weighted, discounted cash flow model which, on a unit by unit basis, considers multiple outcome scenarios that include significant estimates and assumptions, and are based on third-party decommissioning cost estimates, cost escalation rates, inflation rates and discount rates. Updated nuclear cost studies are obtained triennially unless new information necessitates more frequent updates. The most recent cost study was done in 2021. When assumptions are revised to calculate fair values of existing AROs, generally, the ARO balance and corresponding long-lived asset are adjusted which impact the amount of accretion and depreciation expense recognized in future periods. For PSE&G, Regulatory Assets and Regulatory Liabilities result when accretion and amortization are adjusted to match rates established by regulators resulting in the regulatory deferral of any gain or loss. The changes to the ARO liabilities for PSEG and PSE&G during 2021 and 2022 are presented in the following table: PSEG PSE&G PSEG Power & Other Millions ARO Liability as of January 1, 2021 $ 1,212 $ 314 $ 898 Liabilities Settled (15) (14) (1) Adjustments (B) (37) — (37) Accretion Expense 44 — 44 Accretion Expense Deferred and Recovered in Rate Base (A) 16 16 — Revision to Present Values of Estimated Cash Flows 353 47 306 ARO Liability as of December 31, 2021 $ 1,573 $ 363 $ 1,210 Liabilities Settled $ (15) $ (15) $ — Accretion Expense 50 — 50 Accretion Expense Deferred and Recovered in Rate Base (A) 17 17 — Revision to Present Values of Estimated Cash Flows (126) 19 (145) ARO Liability as of December 31, 2022 $ 1,499 $ 384 $ 1,115 (A) Not reflected as expense in Consolidated Statements of Operations. (B) Represents amounts related to the sale of the solar plants and the fossil generating assets classified as Held for Sale. 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 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. In August 2022, the IRA was signed into law expanding incentives promoting carbon-free generation. The enacted legislation established a PTC for electricity generation using nuclear energy set to begin in 2024 through 2032. As a result, PSEG reassessed the Asset Retirement Cost (ARC) and ARO assumptions related to its nuclear units. This resulted in a decrease to the ARC asset and ARO liability of $145 million primarily due to an adjustment in the assumed estimated timing of cash flows associated with decommissioning the units. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information on PTCs. During 2021, PSE&G recorded an increase to its ARO liabilities primarily due to the impact of increases in labor rates and other costs, partially offset by decreases from changes in inflation and discount rate assumptions. Those changes had no impact on PSE&G’s Consolidated Statement of Operations. In April 2021, the BPU awarded ZECs to PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants for an additional three years through May 2025. Concurrent with the BPU’s decision, PSEG reassessed the ARC and ARO assumptions related to the Salem and Hope Creek units. This resulted in an increase to the ARC asset and ARO liability of $51 million, primarily due to lower discount rates and higher inflation. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information on ZECs. In December 2021, PSEG recorded an additional increase to its ARO liabilities primarily due to changes in decommissioning assumptions related to its nuclear units of $255 million. The changes in the decommissioning assumptions relate to the inclusion of certain spent fuel costs and previously assumed levels of reimbursement by the federal government as prescribed under the Nuclear Waste Policy Act. These changes had an immaterial impact on PSEG’s Consolidated Statement of Operations. In addition, PSEG reviewed its probabilities of early retirement on its nuclear units and concluded that no adjustments were necessary as of December 31, 2021.

Pension, OPEB and Savings Plans

Pension, OPEB and Savings Plans	12 Months Ended
	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension, OPEB and Savings Plans	Pension, Other Postretirement Benefits (OPEB) and Savings Plans PSEG sponsors and Services administers 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’s qualified pension plans consist of two qualified defined benefit pension plans, Pension Plan and Pension Plan II. Each of the qualified pension plans include a Final Average Pay and two Cash Balance components. In addition, represented and non-represented employees are eligible for participation in PSEG’s two defined contribution plans. 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. For underfunded plans, the liability is equal to the difference between the plan’s benefit obligation and the fair value of plan assets. For defined benefit pension plans, the benefit obligation is the projected benefit obligation. For OPEB plans, the benefit obligation is the accumulated postretirement benefit obligation. In addition, GAAP requires that the total unrecognized costs for defined benefit pension and OPEB plans be recorded as an after-tax charge to Accumulated Other Comprehensive Income (Loss), a separate component of Stockholders’ Equity. However, for PSE&G, because the amortization of the unrecognized costs is being collected from customers, the accumulated unrecognized costs are recorded as a Regulatory Asset. The unrecognized costs represent actuarial gains or losses and prior service costs which have not been expensed. The charge to Accumulated Other Comprehensive Income (Loss) and the Regulatory Asset for PSE&G are amortized and recorded as net periodic pension cost in the Consolidated Statements of Operations. Amounts for Servco are not included in any of the following pension and OPEB benefit information for PSEG and its affiliates but rather are separately disclosed later in this note. The following table provides a roll-forward of the changes in the benefit obligation and the fair value of plan assets during each of the two years in the periods ended December 31, 2022 and 2021. It also provides the funded status of the plans and the amounts recognized and amounts not recognized on the Consolidated Balance Sheets at the end of both years. Pension Benefits Other Benefits 2022 2021 2022 2021 Millions Change in Benefit Obligation Benefit Obligation at Beginning of Year (A) $ 7,240 $ 7,507 $ 1,197 $ 1,306 Service Cost 142 151 6 9 Interest Cost 167 140 26 22 Actuarial (Gain) Loss (B) (1,517) (199) (314) (90) Gross Benefits Paid (382) (359) (61) (50) Other (22) — (3) — Benefit Obligation at End of Year (A) $ 5,628 $ 7,240 $ 851 $ 1,197 Change in Plan Assets Fair Value of Assets at Beginning of Year $ 6,906 $ 6,368 $ 606 $ 564 Actual Return on Plan Assets (1,606) 886 (139) 79 Employer Contributions 11 11 23 13 Gross Benefits Paid (382) (359) (61) (50) Other (18) — — — Fair Value of Assets at End of Year $ 4,911 $ 6,906 $ 429 $ 606 Funded Status Funded Status (Plan Assets less Benefit Obligation) $ (717) $ (334) $ (422) $ (591) Additional Amounts Recognized in the Consolidated Balance Sheets Current Accrued Benefit Cost (C) $ (12) $ (16) $ (12) $ (19) Noncurrent Accrued Benefit Cost (705) (318) (410) (572) Amounts Recognized $ (717) $ (334) $ (422) $ (591) Additional Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Regulated Assets and Deferred Assets (D) Prior Service Credit $ — $ — $ (52) $ (181) Net Actuarial Loss 2,151 1,643 41 193 Total $ 2,151 $ 1,643 $ (11) $ 12 (A) Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits. The vested benefit obligation is the actuarial present value of the vested benefits to which the employee is currently entitled but based on the employee’s expected date of separation or retirement. (B) For pension benefits, the net actuarial gains in 2022 and 2021 were due primarily to an increase in the discount rate. For OPEB, the net actuarial gain in 2022 was due primarily to an increase in the discount rate and other assumption updates. For OPEB, the net actuarial gain in 2021 was due primarily to an increase in the discount rate coupled with lower than expected claims experience. (C) Includes ($5) million and ($7) million for pension benefits and other benefits, respectively, as of December 31, 2021 classified as Held for Sale. For additional information, see Note 4. Early Plant Retirements/Asset Dispositions and Impairments. (D) Includes $594 million ($426 million, after-tax) and $495 million ($355 million, after-tax) in Accumulated Other Comprehensive Loss related to Pension and OPEB as of December 31, 2022 and 2021, respectively. Also includes Regulatory Assets of $1,405 million and Deferred Assets of $141 million as of December 31, 2022 and Regulatory Assets of $1,043 million and Deferred Assets of $117 million as of December 31, 2021. The pension benefits table above provides information relating to the funded status of the qualified and nonqualified pension and OPEB plans on an aggregate basis. As of December 31, 2022, PSEG had funded approximately 87% of its projected pension benefit obligation. This percentage does not include $183 million of assets in the Rabbi Trust as of December 31, 2022, which provide funding for the nonqualified pension plans and certain deferred compensation. The nonqualified pension plans included in the projected benefit obligation in the above table were $137 million. Accumulated Benefit Obligation The accumulated benefit obligation for all PSEG’s defined benefit pension plans was $5.5 billion as of December 31, 2022 and $7.1 billion as of December 31, 2021. The following table provides the components of net periodic benefit relating to all qualified and nonqualified pension and OPEB plans on an aggregate basis for PSEG, excluding Servco for the years ended December 31, 2022, 2021 and 2020. 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 Years Ended December 31, Other Benefits Years Ended December 31, 2022 2021 2020 2022 2021 2020 Millions Components of Net Periodic Benefit (Credits) Costs Service Cost (included in O&M Expense) $ 142 $ 151 $ 141 $ 6 $ 9 $ 9 Non-Service Components of Pension and OPEB (Credits) Costs Interest Cost 167 140 192 26 22 34 Expected Return on Plan Assets (484) (476) (443) (42) (42) (39) Amortization of Net Prior Service Credit — — (10) (129) (129) (128) Actuarial Loss 60 103 92 15 44 47 Non-Service Components of Pension and OPEB (Credits) Costs (257) (233) (169) (130) (105) (86) Total Benefit (Credits) Costs $ (115) $ (82) $ (28) $ (124) $ (96) $ (77) Pension costs and OPEB costs for PSEG and PSE&G are detailed as follows: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Millions PSE&G $ (70) $ (64) $ (27) $ (109) $ (92) $ (76) PSEG Power & Other (45) (18) (1) (15) (4) (1) Total Benefit (Credits) Costs $ (115) $ (82) $ (28) $ (124) $ (96) $ (77) The following table provides the pre-tax changes recognized in Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Deferred Assets: Pension Other Benefits 2022 2021 2022 2021 Millions Net Actuarial (Gain) Loss in Current Period $ 568 $ (608) $ (138) $ (127) Amortization of Net Actuarial Gain (Loss) (60) (103) (14) (44) Prior Service Cost (Credit) in Current Period — — — — Amortization of Prior Service Credit — — 129 129 Total $ 508 $ (711) $ (23) $ (42) The following assumptions were used to determine the benefit obligations and net periodic benefit costs: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31 Discount Rate 5.20 % 2.94 % 2.61 % 5.16 % 2.82 % 2.46 % Rate of Compensation Increase 4.40 % 4.40 % 4.40 % 4.40 % 4.40 % 4.40 % Cash Balance Interest Crediting Rate 6.00 % 6.00 % 6.00 % N/A N/A N/A Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Years Ended December 31 Discount Rate 2.94 % 2.61 % 3.30 % 2.82 % 2.46 % 3.20 % Service Cost Interest Rate 3.19 % 2.94 % 3.49 % 3.06 % 2.76 % 3.50 % Interest Cost Interest Rate 2.37 % 1.91 % 2.87 % 2.21 % 1.70 % 2.87 % Expected Return on Plan Assets 7.20 % 7.70 % 7.70 % 7.20 % 7.69 % 7.70 % Rate of Compensation Increase 4.40 % 4.40 % 3.90 % 4.40 % 4.40 % 3.90 % Cash Balance Interest Crediting Rate 6.00 % 6.00 % 6.00 % N/A N/A N/A Assumed Health Care Cost Trend Rates as of December 31 Health Care Costs Immediate Rate 6.98 % 6.14 % 6.37 % Ultimate Rate 4.75 % 4.75 % 4.75 % Year Ultimate Rate Reached 2032 2029 2029 Plan Assets The investments of pension and OPEB plans are held in a trust account by the Trustee and consist of an undivided interest in an investment account of the Master Trust. The investments in the pension and OPEB plans are measured at fair value within a hierarchy that prioritizes the inputs to fair value measurements into three levels. See Note 19. Fair Value Measurements for more information on fair value guidance. Use of the Master Trust permits the commingling of pension plan assets and OPEB plan assets for investment and administrative purposes. Although assets of the plans are commingled in the Master Trust, the Trustee maintains supporting records for the purpose of allocating the net gain or loss of the investment account to the respective participating plans. The net investment income of the investment assets is allocated by the Trustee to each participating plan based on the relationship of the interest of each plan to the total of the interests of the participating plans. As of December 31, 2022, the pension plan interest and OPEB plan interest in such assets of the Master Trust were approximately 92% and 8%, respectively. The following tables present information about the investments measured at fair value on a recurring basis as of December 31, 2022 and 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Recurring Fair Value Measurements as of December 31, 2022 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents (A) $ 36 $ 36 $ — Equity Securities Common Stock (B) 1,231 1,231 — Commingled (C) 1,346 — 1,346 Debt Securities (D) U.S. Treasury 1,351 — 1,351 Commingled 4 4 — Subtotal Fair Value $ 3,968 $ 1,271 $ 2,697 Measured at net asset value practical expedient Commingled—Equities (E) 965 Real Estate Investment (F) 395 Private Equity (G) 3 Total Fair Value (H) $ 5,331 Recurring Fair Value Measurements as of December 31, 2021 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents (A) $ 45 $ 45 $ — Equity Securities Common Stock (B) 1,959 1,959 — Commingled (C) 1,948 1,085 863 Preferred Stock (B) 2 2 — Other (I) 2 2 — Debt Securities (D) U.S. Treasury 1,761 — 1,761 Commingled 4 4 — Subtotal Fair Value $ 5,721 $ 3,097 $ 2,624 Measured at net asset value practical expedient Commingled—Equities (E) 1,403 Real Estate Investment (F) 372 Private Equity (G) 3 Total Fair Value (H) $ 7,499 (A) The Collective Investment Fund publishes a daily net asset value (NAV) which participants may use for daily redemptions without restrictions (Level 1). (B) Common stocks and preferred stocks are measured using observable data in active markets and considered Level 1. (C) Commingled Funds that allow daily redemption at their daily published NAV without restrictions are classified as Level 1. Commingled Funds that publish daily NAV but with certain near-term redemption restrictions which prevent redemption at the published daily NAV are classified as Level 2. (D) Debt securities include mainly U.S. Treasury obligations. These investments are valued using an evaluated pricing approach 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 or the most recent quotes for similar securities which are a Level 2 measure. (E) Certain commingled equity funds are not included in the fair value hierarchy as they are measured at fair value using the NAV per share (or its equivalent) practical expedient. These funds do not meet the definition of readily determinable fair value due to the frequency of publishing NAV (monthly). The objectives of these funds are mainly tracking the S&P Index or achieving long-term growth through investment in foreign equity securities and the Morgan Stanley Capital International Index. (F) The unlisted real estate fund invests in office, apartment, industrial and retail space. The fund is valued using the NAV per unit of funds. The investment value of the real estate properties is determined on a quarterly basis by independent market appraisers engaged by the board of directors of the fund. The ability to redeem funds is subject to the availability of cash arising from net investment income, allocations and the sale of investments in the normal course of business. The fund’s NAV is published quarterly. In addition, redemptions require one quarter advance notice prior to redemption and are fulfilled quarterly. The fund, therefore, does not meet the definition of readily determinable fair value. The purpose of the fund is to acquire, own, hold for investment and ultimately dispose of investments in real estate and real estate-related assets with the intention of achieving current income, capital appreciation or both. (G) Private equity investments primarily include various limited partnerships that invest in either operating companies through acquisitions or developing a portfolio of non-U.S. distressed investments to maximize total return on capital. These investments are valued at NAV (or its equivalent) on a quarterly basis and have significant redemption restrictions preventing redemption until fund liquidation and limited ability to sell these investments. Fund liquidation is not expected to occur for several more years. These investments are not included in the fair value hierarchy in accordance with the guidance on NAV practical expedient. (H) Excludes net receivables of $7 million and $11 million as of December 31, 2022 and 2021, respectively, which consist of interest, dividends and receivables and payables related to pending securities sales and purchases. In addition, the table excludes cash and foreign currency of $2 million as of each of December 31, 2022 and 2021. (I) Investment in a publicly traded limited partnership. The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans as of the measurement date, December 31: As of December 31, Investments 2022 2021 Equity Securities 67 % 71 % Debt Securities 25 23 Other Investments 8 6 Total Percentage 100 % 100 % PSEG utilizes forecasted returns, risk, and correlation of all asset classes in order to develop an efficient portfolio. PSEG’s long-term target asset allocation of 54% equities, 18% real assets and 28% fixed income is consistent with the funds’ financial objectives. Certain investments in real assets (12% as of December 31, 2022) are made through investing in equity securities and tracked as equities when reporting fair value; however, they are viewed by their asset class, real assets, in our target asset allocation. Derivative financial instruments are used by the plans’ investment managers primarily to adjust the fixed income duration of the portfolio and hedge the currency risk component of foreign investments. The expected long-term rate of return on plan assets was 7.2% for 2022 and will be 8.1% for 2023. This expected return includes a premium for active management. Plan Contributions PSEG does not plan to contribute to its pension and OPEB plans in 2023. Internal Revenue Service (IRS) minimum funding requirements for pension plans are determined based on the fund’s assets and liabilities at the end of a calendar year for the subsequent calendar year. Estimated Future Benefit Payments The following pension benefit and postretirement benefit payments are expected to be paid to plan participants. Year Pension Other Benefits Millions 2023 $ 424 $ 77 2024 400 75 2025 405 74 2026 411 72 2027 418 70 2028-2032 2,124 309 Total $ 4,182 $ 677 401(k) Plans PSEG sponsors two 401(k) plans, which are defined contribution retirement plans subject to the Employee Retirement Income Security Act (ERISA). Eligible represented employees of PSEG’s subsidiaries participate in the PSEG Employee Savings Plan (Savings Plan), while eligible non-represented employees of PSEG’s subsidiaries participate in the PSEG Thrift and Tax-Deferred Savings Plan (Thrift Plan). Eligible employees may contribute up to 50% of their annual eligible compensation to these plans, not to exceed the IRS maximums, including any catch-up contributions for those employees age 50 and above. PSEG matches 50% of such employee contributions up to 7% of pay for Savings Plan participants and up to 8% of pay for Thrift Plan participants. The amounts paid for employer matching contributions to the plans for PSEG and PSE&G are detailed as follows: Thrift Plan and Savings Plan Years Ended December 31, 2022 2021 2020 Millions PSE&G $ 28 $ 28 $ 27 PSEG Power & Other 14 16 16 Total Employer Matching Contributions $ 42 $ 44 $ 43 Servco Pension and OPEB Servco sponsors a qualified pension plan and OPEB plan covering its employees who meet certain eligibility criteria. Under the OSA, employee benefit costs for these plans are funded by LIPA. See Note 5. Variable Interest Entities. These obligations, as well as the offsetting long-term receivable, are separately presented on the Consolidated Balance Sheet of PSEG. The following table provides a roll-forward of the changes in Servco’s benefit obligation and the fair value of its plan assets during the years ended December 31, 2022 and 2021. It also provides the funded status of the plans and the amounts recognized and amounts not recognized on the Consolidated Balance Sheets at the end of both years. Pension Benefits Other Benefits 2022 2021 2022 2021 Millions Change in Benefit Obligation Benefit Obligation at Beginning of Year (A) $ 596 $ 569 $ 640 $ 699 Service Cost 38 38 21 23 Interest Cost 17 14 19 18 Actuarial (Gain) Loss (B) (189) (18) (215) (89) Gross Benefits Paid (10) (7) (10) (11) Benefit Obligation at End of Year (A) $ 452 $ 596 $ 455 $ 640 Change in Plan Assets Fair Value of Assets at Beginning of Year $ 422 $ 343 $ — $ — Actual Return on Plan Assets (72) 49 — — Employer Contributions 30 37 10 11 Gross Benefits Paid (10) (7) (10) (11) Fair Value of Assets at End of Year $ 370 $ 422 $ — $ — Funded Status Funded Status (Plan Assets less Benefit Obligation) $ (82) $ (174) $ (455) $ (640) Additional Amounts Recognized in the Consolidated Balance Sheets Accrued Pension Costs of Servco $ (82) $ (174) N/A N/A OPEB Costs of Servco N/A N/A (455) (640) Amounts Recognized (C) $ (82) $ (174) $ (455) $ (640) (A) Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits. The vested benefit obligation is the actuarial present value of the vested benefits to which the employee is currently entitled but based on the employee’s expected date of separation or retirement. (B) For pension benefits and OPEB, the net actuarial gains in 2022 were due primarily to an increase in the discount rate. For pension benefits, the net actuarial gain in 2021 was due primarily to an increase in the discount rate. For OPEB, the net actuarial gain in 2021 was due primarily to updated assumptions. (C) Amounts equal to the accrued pension and OPEB costs of Servco are offset in Long-Term Receivable of VIE on PSEG’s Consolidated Balance Sheets. 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. The pension-related revenues and costs for 2022, 2021 and 2020 were $30 million, $37 million and $30 million, respectively. Servco has contributed its entire planned contribution amount to its pension plan trusts during 2022. The OPEB-related revenues earned and costs incurred were $10 million, $11 million and $9 million in 2022, 2021 and 2020, respectively. The following assumptions were used to determine the benefit obligations of Servco: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31 Discount Rate 5.30 % 3.21 % 2.98 % 5.34 % 3.28 % 3.08 % Rate of Compensation Increase 3.95 % 3.95 % 3.95 % 3.95 % 3.95 % 3.95 % Cash Balance Interest Crediting Rate 4.30 % 3.75 % 3.75 % N/A N/A N/A Assumed Health Care Cost Trend Rates as of December 31 Health Care Costs Immediate Rate 6.71 % 6.48 % 6.70 % Ultimate Rate 4.75 % 4.75 % 4.75 % Year Ultimate Rate Reached 2032 2029 2029 Plan Assets All the investments of Servco’s pension plans are held in a trust account by the Trustee and consist of an undivided interest in an investment account of the Servco Master Trust. The investments in the pension are measured at fair value within a hierarchy that prioritizes the inputs to fair value measurements into three levels. See Note 19. Fair Value Measurements for more information on fair value guidance. The following tables present information about Servco’s investments measured at fair value on a recurring basis as of December 31, 2022 and 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Recurring Fair Value Measurements as of December 31, 2022 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents $ 1 $ 1 $ — Equity Securities Common Stock (A) 25 25 — Commingled (B) 251 — 251 Commingled Bonds (B) 93 — 93 Total $ 370 $ 26 $ 344 Recurring Fair Value Measurements as of December 31, 2021 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents $ 1 $ 1 $ — Equity Securities Common Stock (A) 34 34 — Commingled (B) 285 — 285 Commingled Bonds (B) 102 — 102 Total $ 422 $ 35 $ 387 (A) Common stocks are measured using observable data in active markets and considered Level 1. (B) Investments in commingled equity and bond funds have a readily determinable fair value as they publish a daily NAV available to investors which is the basis for current transactions and contain certain redemption restrictions requiring advance notice of one to two days for withdrawals (Level 2). The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans of Servco as of the measurement date, December 31: As of December 31, Investments 2022 2021 Equity Securities 75 % 76 % Debt Securities 25 24 Total Percentage 100 % 100 % Servco utilizes forecasted returns, risk, and correlation of all asset classes in order to develop an efficient portfolio. Servco’s long-term target asset allocation of 60% equities, 15% real assets and 25% fixed income is consistent with the funds’ financial objectives. Certain investments in real assets (15% at December 31, 2022) are made through investing in equity securities and tracked as equities when reporting fair value; however, they are viewed by their asset class, real assets, in our target asset allocation. The expected long-term rate of return on plan assets was 7.60% for 2022 and will be 8.0% for 2023. This expected return includes a premium for active management. Plan Contributions Servco plans to contribute $18 million into its pension plan during 2023. Estimated Future Benefit Payments The following pension benefit and postretirement benefit payments are expected to be paid to Servco’s plan participants: Year Pension Other Benefits Millions 2023 $ 12 $ 10 2024 14 12 2025 17 14 2026 19 15 2027 22 17 2028-2032 149 112 Total $ 233 $ 180 Servco 401(k) Plans Servco sponsors two 401(k) plans, which are defined contribution retirement plans subject to ERISA. Eligible non-represented employees of Servco participate in the Long Island Electric Utility Servco LLC Incentive Thrift Plan I (Thrift Plan I), and eligible represented employees of Servco participate in the Long Island Electric Utility Servco LLC Incentive Thrift Plan II (Thrift Plan II). Participants in the plans may contribute up to 50% of their eligible compensation to these plans, not to exceed the IRS maximums, including any catch-up contributions for those employees age 50 and above. Servco does not provide an employer match or core contribution for employees in Thrift Plan II. For employees in Thrift Plan I, Servco matches 50% of such employee contributions up to 8% of eligible compensation and provides core contributions (based on years of service and age) to employees who do not participate in Servco’s Retirement Income Plan. The amount expensed by Servco for employer matching contributions was $9 million for each of the years ended December 31, 2022, 2021 and 2020. Pursuant to the OSA, Servco recognizes Operating Revenues for the reimbursement of these costs.
Public Service Electric and Gas Company
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension, OPEB and Savings Plans	Pension, Other Postretirement Benefits (OPEB) and Savings Plans PSEG sponsors and Services administers 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’s qualified pension plans consist of two qualified defined benefit pension plans, Pension Plan and Pension Plan II. Each of the qualified pension plans include a Final Average Pay and two Cash Balance components. In addition, represented and non-represented employees are eligible for participation in PSEG’s two defined contribution plans. 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. For underfunded plans, the liability is equal to the difference between the plan’s benefit obligation and the fair value of plan assets. For defined benefit pension plans, the benefit obligation is the projected benefit obligation. For OPEB plans, the benefit obligation is the accumulated postretirement benefit obligation. In addition, GAAP requires that the total unrecognized costs for defined benefit pension and OPEB plans be recorded as an after-tax charge to Accumulated Other Comprehensive Income (Loss), a separate component of Stockholders’ Equity. However, for PSE&G, because the amortization of the unrecognized costs is being collected from customers, the accumulated unrecognized costs are recorded as a Regulatory Asset. The unrecognized costs represent actuarial gains or losses and prior service costs which have not been expensed. The charge to Accumulated Other Comprehensive Income (Loss) and the Regulatory Asset for PSE&G are amortized and recorded as net periodic pension cost in the Consolidated Statements of Operations. Amounts for Servco are not included in any of the following pension and OPEB benefit information for PSEG and its affiliates but rather are separately disclosed later in this note. The following table provides a roll-forward of the changes in the benefit obligation and the fair value of plan assets during each of the two years in the periods ended December 31, 2022 and 2021. It also provides the funded status of the plans and the amounts recognized and amounts not recognized on the Consolidated Balance Sheets at the end of both years. Pension Benefits Other Benefits 2022 2021 2022 2021 Millions Change in Benefit Obligation Benefit Obligation at Beginning of Year (A) $ 7,240 $ 7,507 $ 1,197 $ 1,306 Service Cost 142 151 6 9 Interest Cost 167 140 26 22 Actuarial (Gain) Loss (B) (1,517) (199) (314) (90) Gross Benefits Paid (382) (359) (61) (50) Other (22) — (3) — Benefit Obligation at End of Year (A) $ 5,628 $ 7,240 $ 851 $ 1,197 Change in Plan Assets Fair Value of Assets at Beginning of Year $ 6,906 $ 6,368 $ 606 $ 564 Actual Return on Plan Assets (1,606) 886 (139) 79 Employer Contributions 11 11 23 13 Gross Benefits Paid (382) (359) (61) (50) Other (18) — — — Fair Value of Assets at End of Year $ 4,911 $ 6,906 $ 429 $ 606 Funded Status Funded Status (Plan Assets less Benefit Obligation) $ (717) $ (334) $ (422) $ (591) Additional Amounts Recognized in the Consolidated Balance Sheets Current Accrued Benefit Cost (C) $ (12) $ (16) $ (12) $ (19) Noncurrent Accrued Benefit Cost (705) (318) (410) (572) Amounts Recognized $ (717) $ (334) $ (422) $ (591) Additional Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Regulated Assets and Deferred Assets (D) Prior Service Credit $ — $ — $ (52) $ (181) Net Actuarial Loss 2,151 1,643 41 193 Total $ 2,151 $ 1,643 $ (11) $ 12 (A) Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits. The vested benefit obligation is the actuarial present value of the vested benefits to which the employee is currently entitled but based on the employee’s expected date of separation or retirement. (B) For pension benefits, the net actuarial gains in 2022 and 2021 were due primarily to an increase in the discount rate. For OPEB, the net actuarial gain in 2022 was due primarily to an increase in the discount rate and other assumption updates. For OPEB, the net actuarial gain in 2021 was due primarily to an increase in the discount rate coupled with lower than expected claims experience. (C) Includes ($5) million and ($7) million for pension benefits and other benefits, respectively, as of December 31, 2021 classified as Held for Sale. For additional information, see Note 4. Early Plant Retirements/Asset Dispositions and Impairments. (D) Includes $594 million ($426 million, after-tax) and $495 million ($355 million, after-tax) in Accumulated Other Comprehensive Loss related to Pension and OPEB as of December 31, 2022 and 2021, respectively. Also includes Regulatory Assets of $1,405 million and Deferred Assets of $141 million as of December 31, 2022 and Regulatory Assets of $1,043 million and Deferred Assets of $117 million as of December 31, 2021. The pension benefits table above provides information relating to the funded status of the qualified and nonqualified pension and OPEB plans on an aggregate basis. As of December 31, 2022, PSEG had funded approximately 87% of its projected pension benefit obligation. This percentage does not include $183 million of assets in the Rabbi Trust as of December 31, 2022, which provide funding for the nonqualified pension plans and certain deferred compensation. The nonqualified pension plans included in the projected benefit obligation in the above table were $137 million. Accumulated Benefit Obligation The accumulated benefit obligation for all PSEG’s defined benefit pension plans was $5.5 billion as of December 31, 2022 and $7.1 billion as of December 31, 2021. The following table provides the components of net periodic benefit relating to all qualified and nonqualified pension and OPEB plans on an aggregate basis for PSEG, excluding Servco for the years ended December 31, 2022, 2021 and 2020. 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 Years Ended December 31, Other Benefits Years Ended December 31, 2022 2021 2020 2022 2021 2020 Millions Components of Net Periodic Benefit (Credits) Costs Service Cost (included in O&M Expense) $ 142 $ 151 $ 141 $ 6 $ 9 $ 9 Non-Service Components of Pension and OPEB (Credits) Costs Interest Cost 167 140 192 26 22 34 Expected Return on Plan Assets (484) (476) (443) (42) (42) (39) Amortization of Net Prior Service Credit — — (10) (129) (129) (128) Actuarial Loss 60 103 92 15 44 47 Non-Service Components of Pension and OPEB (Credits) Costs (257) (233) (169) (130) (105) (86) Total Benefit (Credits) Costs $ (115) $ (82) $ (28) $ (124) $ (96) $ (77) Pension costs and OPEB costs for PSEG and PSE&G are detailed as follows: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Millions PSE&G $ (70) $ (64) $ (27) $ (109) $ (92) $ (76) PSEG Power & Other (45) (18) (1) (15) (4) (1) Total Benefit (Credits) Costs $ (115) $ (82) $ (28) $ (124) $ (96) $ (77) The following table provides the pre-tax changes recognized in Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Deferred Assets: Pension Other Benefits 2022 2021 2022 2021 Millions Net Actuarial (Gain) Loss in Current Period $ 568 $ (608) $ (138) $ (127) Amortization of Net Actuarial Gain (Loss) (60) (103) (14) (44) Prior Service Cost (Credit) in Current Period — — — — Amortization of Prior Service Credit — — 129 129 Total $ 508 $ (711) $ (23) $ (42) The following assumptions were used to determine the benefit obligations and net periodic benefit costs: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31 Discount Rate 5.20 % 2.94 % 2.61 % 5.16 % 2.82 % 2.46 % Rate of Compensation Increase 4.40 % 4.40 % 4.40 % 4.40 % 4.40 % 4.40 % Cash Balance Interest Crediting Rate 6.00 % 6.00 % 6.00 % N/A N/A N/A Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Years Ended December 31 Discount Rate 2.94 % 2.61 % 3.30 % 2.82 % 2.46 % 3.20 % Service Cost Interest Rate 3.19 % 2.94 % 3.49 % 3.06 % 2.76 % 3.50 % Interest Cost Interest Rate 2.37 % 1.91 % 2.87 % 2.21 % 1.70 % 2.87 % Expected Return on Plan Assets 7.20 % 7.70 % 7.70 % 7.20 % 7.69 % 7.70 % Rate of Compensation Increase 4.40 % 4.40 % 3.90 % 4.40 % 4.40 % 3.90 % Cash Balance Interest Crediting Rate 6.00 % 6.00 % 6.00 % N/A N/A N/A Assumed Health Care Cost Trend Rates as of December 31 Health Care Costs Immediate Rate 6.98 % 6.14 % 6.37 % Ultimate Rate 4.75 % 4.75 % 4.75 % Year Ultimate Rate Reached 2032 2029 2029 Plan Assets The investments of pension and OPEB plans are held in a trust account by the Trustee and consist of an undivided interest in an investment account of the Master Trust. The investments in the pension and OPEB plans are measured at fair value within a hierarchy that prioritizes the inputs to fair value measurements into three levels. See Note 19. Fair Value Measurements for more information on fair value guidance. Use of the Master Trust permits the commingling of pension plan assets and OPEB plan assets for investment and administrative purposes. Although assets of the plans are commingled in the Master Trust, the Trustee maintains supporting records for the purpose of allocating the net gain or loss of the investment account to the respective participating plans. The net investment income of the investment assets is allocated by the Trustee to each participating plan based on the relationship of the interest of each plan to the total of the interests of the participating plans. As of December 31, 2022, the pension plan interest and OPEB plan interest in such assets of the Master Trust were approximately 92% and 8%, respectively. The following tables present information about the investments measured at fair value on a recurring basis as of December 31, 2022 and 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Recurring Fair Value Measurements as of December 31, 2022 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents (A) $ 36 $ 36 $ — Equity Securities Common Stock (B) 1,231 1,231 — Commingled (C) 1,346 — 1,346 Debt Securities (D) U.S. Treasury 1,351 — 1,351 Commingled 4 4 — Subtotal Fair Value $ 3,968 $ 1,271 $ 2,697 Measured at net asset value practical expedient Commingled—Equities (E) 965 Real Estate Investment (F) 395 Private Equity (G) 3 Total Fair Value (H) $ 5,331 Recurring Fair Value Measurements as of December 31, 2021 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents (A) $ 45 $ 45 $ — Equity Securities Common Stock (B) 1,959 1,959 — Commingled (C) 1,948 1,085 863 Preferred Stock (B) 2 2 — Other (I) 2 2 — Debt Securities (D) U.S. Treasury 1,761 — 1,761 Commingled 4 4 — Subtotal Fair Value $ 5,721 $ 3,097 $ 2,624 Measured at net asset value practical expedient Commingled—Equities (E) 1,403 Real Estate Investment (F) 372 Private Equity (G) 3 Total Fair Value (H) $ 7,499 (A) The Collective Investment Fund publishes a daily net asset value (NAV) which participants may use for daily redemptions without restrictions (Level 1). (B) Common stocks and preferred stocks are measured using observable data in active markets and considered Level 1. (C) Commingled Funds that allow daily redemption at their daily published NAV without restrictions are classified as Level 1. Commingled Funds that publish daily NAV but with certain near-term redemption restrictions which prevent redemption at the published daily NAV are classified as Level 2. (D) Debt securities include mainly U.S. Treasury obligations. These investments are valued using an evaluated pricing approach 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 or the most recent quotes for similar securities which are a Level 2 measure. (E) Certain commingled equity funds are not included in the fair value hierarchy as they are measured at fair value using the NAV per share (or its equivalent) practical expedient. These funds do not meet the definition of readily determinable fair value due to the frequency of publishing NAV (monthly). The objectives of these funds are mainly tracking the S&P Index or achieving long-term growth through investment in foreign equity securities and the Morgan Stanley Capital International Index. (F) The unlisted real estate fund invests in office, apartment, industrial and retail space. The fund is valued using the NAV per unit of funds. The investment value of the real estate properties is determined on a quarterly basis by independent market appraisers engaged by the board of directors of the fund. The ability to redeem funds is subject to the availability of cash arising from net investment income, allocations and the sale of investments in the normal course of business. The fund’s NAV is published quarterly. In addition, redemptions require one quarter advance notice prior to redemption and are fulfilled quarterly. The fund, therefore, does not meet the definition of readily determinable fair value. The purpose of the fund is to acquire, own, hold for investment and ultimately dispose of investments in real estate and real estate-related assets with the intention of achieving current income, capital appreciation or both. (G) Private equity investments primarily include various limited partnerships that invest in either operating companies through acquisitions or developing a portfolio of non-U.S. distressed investments to maximize total return on capital. These investments are valued at NAV (or its equivalent) on a quarterly basis and have significant redemption restrictions preventing redemption until fund liquidation and limited ability to sell these investments. Fund liquidation is not expected to occur for several more years. These investments are not included in the fair value hierarchy in accordance with the guidance on NAV practical expedient. (H) Excludes net receivables of $7 million and $11 million as of December 31, 2022 and 2021, respectively, which consist of interest, dividends and receivables and payables related to pending securities sales and purchases. In addition, the table excludes cash and foreign currency of $2 million as of each of December 31, 2022 and 2021. (I) Investment in a publicly traded limited partnership. The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans as of the measurement date, December 31: As of December 31, Investments 2022 2021 Equity Securities 67 % 71 % Debt Securities 25 23 Other Investments 8 6 Total Percentage 100 % 100 % PSEG utilizes forecasted returns, risk, and correlation of all asset classes in order to develop an efficient portfolio. PSEG’s long-term target asset allocation of 54% equities, 18% real assets and 28% fixed income is consistent with the funds’ financial objectives. Certain investments in real assets (12% as of December 31, 2022) are made through investing in equity securities and tracked as equities when reporting fair value; however, they are viewed by their asset class, real assets, in our target asset allocation. Derivative financial instruments are used by the plans’ investment managers primarily to adjust the fixed income duration of the portfolio and hedge the currency risk component of foreign investments. The expected long-term rate of return on plan assets was 7.2% for 2022 and will be 8.1% for 2023. This expected return includes a premium for active management. Plan Contributions PSEG does not plan to contribute to its pension and OPEB plans in 2023. Internal Revenue Service (IRS) minimum funding requirements for pension plans are determined based on the fund’s assets and liabilities at the end of a calendar year for the subsequent calendar year. Estimated Future Benefit Payments The following pension benefit and postretirement benefit payments are expected to be paid to plan participants. Year Pension Other Benefits Millions 2023 $ 424 $ 77 2024 400 75 2025 405 74 2026 411 72 2027 418 70 2028-2032 2,124 309 Total $ 4,182 $ 677 401(k) Plans PSEG sponsors two 401(k) plans, which are defined contribution retirement plans subject to the Employee Retirement Income Security Act (ERISA). Eligible represented employees of PSEG’s subsidiaries participate in the PSEG Employee Savings Plan (Savings Plan), while eligible non-represented employees of PSEG’s subsidiaries participate in the PSEG Thrift and Tax-Deferred Savings Plan (Thrift Plan). Eligible employees may contribute up to 50% of their annual eligible compensation to these plans, not to exceed the IRS maximums, including any catch-up contributions for those employees age 50 and above. PSEG matches 50% of such employee contributions up to 7% of pay for Savings Plan participants and up to 8% of pay for Thrift Plan participants. The amounts paid for employer matching contributions to the plans for PSEG and PSE&G are detailed as follows: Thrift Plan and Savings Plan Years Ended December 31, 2022 2021 2020 Millions PSE&G $ 28 $ 28 $ 27 PSEG Power & Other 14 16 16 Total Employer Matching Contributions $ 42 $ 44 $ 43 Servco Pension and OPEB Servco sponsors a qualified pension plan and OPEB plan covering its employees who meet certain eligibility criteria. Under the OSA, employee benefit costs for these plans are funded by LIPA. See Note 5. Variable Interest Entities. These obligations, as well as the offsetting long-term receivable, are separately presented on the Consolidated Balance Sheet of PSEG. The following table provides a roll-forward of the changes in Servco’s benefit obligation and the fair value of its plan assets during the years ended December 31, 2022 and 2021. It also provides the funded status of the plans and the amounts recognized and amounts not recognized on the Consolidated Balance Sheets at the end of both years. Pension Benefits Other Benefits 2022 2021 2022 2021 Millions Change in Benefit Obligation Benefit Obligation at Beginning of Year (A) $ 596 $ 569 $ 640 $ 699 Service Cost 38 38 21 23 Interest Cost 17 14 19 18 Actuarial (Gain) Loss (B) (189) (18) (215) (89) Gross Benefits Paid (10) (7) (10) (11) Benefit Obligation at End of Year (A) $ 452 $ 596 $ 455 $ 640 Change in Plan Assets Fair Value of Assets at Beginning of Year $ 422 $ 343 $ — $ — Actual Return on Plan Assets (72) 49 — — Employer Contributions 30 37 10 11 Gross Benefits Paid (10) (7) (10) (11) Fair Value of Assets at End of Year $ 370 $ 422 $ — $ — Funded Status Funded Status (Plan Assets less Benefit Obligation) $ (82) $ (174) $ (455) $ (640) Additional Amounts Recognized in the Consolidated Balance Sheets Accrued Pension Costs of Servco $ (82) $ (174) N/A N/A OPEB Costs of Servco N/A N/A (455) (640) Amounts Recognized (C) $ (82) $ (174) $ (455) $ (640) (A) Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits. The vested benefit obligation is the actuarial present value of the vested benefits to which the employee is currently entitled but based on the employee’s expected date of separation or retirement. (B) For pension benefits and OPEB, the net actuarial gains in 2022 were due primarily to an increase in the discount rate. For pension benefits, the net actuarial gain in 2021 was due primarily to an increase in the discount rate. For OPEB, the net actuarial gain in 2021 was due primarily to updated assumptions. (C) Amounts equal to the accrued pension and OPEB costs of Servco are offset in Long-Term Receivable of VIE on PSEG’s Consolidated Balance Sheets. 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. The pension-related revenues and costs for 2022, 2021 and 2020 were $30 million, $37 million and $30 million, respectively. Servco has contributed its entire planned contribution amount to its pension plan trusts during 2022. The OPEB-related revenues earned and costs incurred were $10 million, $11 million and $9 million in 2022, 2021 and 2020, respectively. The following assumptions were used to determine the benefit obligations of Servco: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31 Discount Rate 5.30 % 3.21 % 2.98 % 5.34 % 3.28 % 3.08 % Rate of Compensation Increase 3.95 % 3.95 % 3.95 % 3.95 % 3.95 % 3.95 % Cash Balance Interest Crediting Rate 4.30 % 3.75 % 3.75 % N/A N/A N/A Assumed Health Care Cost Trend Rates as of December 31 Health Care Costs Immediate Rate 6.71 % 6.48 % 6.70 % Ultimate Rate 4.75 % 4.75 % 4.75 % Year Ultimate Rate Reached 2032 2029 2029 Plan Assets All the investments of Servco’s pension plans are held in a trust account by the Trustee and consist of an undivided interest in an investment account of the Servco Master Trust. The investments in the pension are measured at fair value within a hierarchy that prioritizes the inputs to fair value measurements into three levels. See Note 19. Fair Value Measurements for more information on fair value guidance. The following tables present information about Servco’s investments measured at fair value on a recurring basis as of December 31, 2022 and 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Recurring Fair Value Measurements as of December 31, 2022 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents $ 1 $ 1 $ — Equity Securities Common Stock (A) 25 25 — Commingled (B) 251 — 251 Commingled Bonds (B) 93 — 93 Total $ 370 $ 26 $ 344 Recurring Fair Value Measurements as of December 31, 2021 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents $ 1 $ 1 $ — Equity Securities Common Stock (A) 34 34 — Commingled (B) 285 — 285 Commingled Bonds (B) 102 — 102 Total $ 422 $ 35 $ 387 (A) Common stocks are measured using observable data in active markets and considered Level 1. (B) Investments in commingled equity and bond funds have a readily determinable fair value as they publish a daily NAV available to investors which is the basis for current transactions and contain certain redemption restrictions requiring advance notice of one to two days for withdrawals (Level 2). The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans of Servco as of the measurement date, December 31: As of December 31, Investments 2022 2021 Equity Securities 75 % 76 % Debt Securities 25 24 Total Percentage 100 % 100 % Servco utilizes forecasted returns, risk, and correlation of all asset classes in order to develop an efficient portfolio. Servco’s long-term target asset allocation of 60% equities, 15% real assets and 25% fixed income is consistent with the funds’ financial objectives. Certain investments in real assets (15% at December 31, 2022) are made through investing in equity securities and tracked as equities when reporting fair value; however, they are viewed by their asset class, real assets, in our target asset allocation. The expected long-term rate of return on plan assets was 7.60% for 2022 and will be 8.0% for 2023. This expected return includes a premium for active management. Plan Contributions Servco plans to contribute $18 million into its pension plan during 2023. Estimated Future Benefit Payments The following pension benefit and postretirement benefit payments are expected to be paid to Servco’s plan participants: Year Pension Other Benefits Millions 2023 $ 12 $ 10 2024 14 12 2025 17 14 2026 19 15 2027 22 17 2028-2032 149 112 Total $ 233 $ 180 Servco 401(k) Plans Servco sponsors two 401(k) plans, which are defined contribution retirement plans subject to ERISA. Eligible non-represented employees of Servco participate in the Long Island Electric Utility Servco LLC Incentive Thrift Plan I (Thrift Plan I), and eligible represented employees of Servco participate in the Long Island Electric Utility Servco LLC Incentive Thrift Plan II (Thrift Plan II). Participants in the plans may contribute up to 50% of their eligible compensation to these plans, not to exceed the IRS maximums, including any catch-up contributions for those employees age 50 and above. Servco does not provide an employer match or core contribution for employees in Thrift Plan II. For employees in Thrift Plan I, Servco matches 50% of such employee contributions up to 8% of eligible compensation and provides core contributions (based on years of service and age) to employees who do not participate in Servco’s Retirement Income Plan. The amount expensed by Servco for employer matching contributions was $9 million for each of the years ended December 31, 2022, 2021 and 2020. Pursuant to the OSA, Servco recognizes Operating Revenues for the reimbursement of these costs.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2022
Other Commitments [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 December 31, 2022 and 2021. As of December 31, 2022 As of December 31, 2021 Millions Face Value of Outstanding Guarantees $ 1,601 $ 1,959 Exposure under Current Guarantees $ 198 $ 176 Letters of Credit Margin Posted $ 87 $ 80 Letters of Credit Margin Received $ 38 $ 242 Cash Deposited and Received Counterparty Cash Collateral Deposited $ — $ 60 Counterparty Cash Collateral Received $ (1) $ (1) Net Broker Balance Deposited (Received) $ 1,522 $ 785 Additional Amounts Posted Other Letters of Credit $ 156 $ 67 As part of determining credit exposure, PSEG Power nets receivables and payables with the corresponding net fair values of energy contracts. See Note 18. 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 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. The EPA has announced two separate cleanup plans for the Lower 8.3 miles and Upper 9 miles of the LPRSA. The EPA’s plan for the Lower 8.3 miles involves dredging and capping sediments at an estimated cost of $2.3 billion, and its plan for the Upper 9 miles involves dredging and capping sediments at an estimated cost of $550 million. Additional cleanup work may be required depending on the results of these initial phases of work. In December 2022, the EPA announced a proposed settlement with 85 parties who have agreed to pay $150 million to resolve their LPRSA CERCLA liability, in whole or in part. The EPA has explained that the settlement was the outcome of an EPA-sponsored process where the EPA hired a cost allocator to recommend shares of LPRSA cleanup costs. The allocator’s Final Allocation Recommendation Report is available on the EPA’s website, and the proposed settlement is subject to public comment and judicial review. It is uncertain whether the settlement will be finalized as currently proposed, and the allocation did not address certain costs incurred by the EPA for which it may be entitled to reimbursement and which may be material. PSE&G and PSEG Power are not included in the proposed settlement, 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. PSEG submitted a good faith offer to the EPA in June 2022 on behalf of PSE&G and PSEG Power. PSEG understands that the EPA is evaluating its offer. The EPA may commence the next phases of 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. Occidental Chemical Corporation has commenced the design of the Lower 8.3 Record of Decision 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 Potentially Responsible Parties (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 December 31, 2022, PSEG has approximately $66 million accrued for this matter. 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 21 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 September 2022, the EPA announced it had designated the lower 18.75 miles of the Hackensack River a federal Superfund site. PSE&G and certain of its predecessors conducted operations at properties in this area, including at the Hudson, Bergen and Kearny generating stations that were transferred to PSEG Power. PSEG Power subsequently contractually transferred all land rights and structures on the Hudson generating station site to a third-party purchaser, along with the assumption of the environmental liabilities for that site. 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, PSE&G has determined that the estimated cost to remediate all MGP sites to completion could range between $206 million and $226 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 $206 million as of December 31, 2022. Of this amount, $35 million was recorded in Other Current Liabilities and $171 million was reflected as Environmental Costs in Noncurrent Liabilities. PSE&G has recorded a $206 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. Legacy Environmental Obligations at Former Fossil Generating Sites PSEG Power has retained ownership of certain liabilities excluded from the 2022 sale of its fossil generation portfolio. These liabilities primarily relate to obligations under the New Jersey Industrial Site Recovery Act (ISRA) and the Connecticut Transfer Act (CTA) to investigate and remediate PSEG Power’s two formerly owned generating station sites in Connecticut, and six formerly owned generating station sites in New Jersey. In addition, PSEG Power still owns two former generating station sites in New Jersey that triggered ISRA in 2015. PSEG Power is in the process of fulfilling its obligations under ISRA and the CTA to investigate these sites. It will require multiple years and comprehensive environmental sampling to understand the extent of and to carry out the required remediation. The full remediation costs at each of the ten sites are not estimable, but will likely be material. 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 and scheduled a hearing in September 2023. 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 are responsible for fulfilling all the requirements of a PJM load-serving entity including the provision of capacity, energy, ancillary services 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. 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, 2023 is $330.72 per MW-day, replacing the BGS-CIEP auction year price ending May 31, 2023 of $276.26 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 2020 2021 2022 2023 36-Month Terms Ending May 2023 May 2024 May 2025 May 2026 (A) Load (MW) 2,800 2,900 2,800 2,800 $ per MWh $102.16 $64.80 $76.30 $93.11 (A) Prices set in the 2023 BGS auction will become effective on June 1, 2023 when the 2020 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 26. 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 2024 and a significant portion through 2025 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 December 31, 2022, the total minimum purchase requirements included in these commitments were as follows: Fuel Type PSEG Power’s Share of Commitments through 2027 Millions Nuclear Fuel Uranium $ 390 Enrichment $ 327 Fabrication $ 189 Natural Gas $ 1,310 Pending FERC Matters 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. PSE&G is 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. 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 audit reviews 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 is 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 data collection (written discovery and interviews) has concluded. The BPU Audit Staff are in the process of finalizing their report. 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, which at the time was 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. Coronavirus Pandemic The COVID-19 pandemic and associated government actions and economic effects continue to impact our businesses. PSEG and its subsidiaries have incurred additional expenses to protect our employees and customers, and PSE&G is experiencing significantly higher bad debts and lower cash collections from customers due to the moratorium on shut-offs for residential customers that was extended through March 15, 2022. Although collections and shut-offs re-commenced in mid-March 2022, in late March 2022, New Jersey passed legislation that provided protection from shut-offs to customers who applied for payment assistance programs with those applying for assistance protected from shut-offs while awaiting their application determination. PSE&G has deferred the impact of the COVID-19 costs for future recovery, and in December 2022, the BPU determined that the deferral period will end on March 15, 2023. The potential future impact of the pandemic and the associated economic impacts, which could extend beyond the duration of the pandemic, could have risks that drive certain accounting considerations. The ultimate impact of the coronavirus pandemic is highly uncertain and cannot be predicted at this time. Nuclear Insurance Coverages and Assessments PSEG Power is a member of the joint underwriting association, American Nuclear Insurers (ANI), which provides nuclear liability insurance coverage at the Salem and Hope Creek site and the Peach Bottom site. The ANI policies are designed to satisfy the financial protection requirements outlined in the Price-Anderson Act, which sets the limit of liability for claims that could arise from an incident involving any licensed nuclear facility in the United States. The limit of liability per incident per site is composed of primary and excess layers. As of December 31, 2022, nuclear sites were required to purchase $450 million of primary liability coverage for each site through ANI. The primary layer is supplemented by an excess layer, which is an industry self-insurance pool. In the event a nuclear site, which is part of the industry self-insurance pool, has a claim that exceeds the primary layer, each licensee would be assessed a prorated share of the excess layer. The excess layer limit is $13.2 billion. PSEG Power’s maximum aggregate assessment per incident is $433 million based on PSEG Power’s ownership interests in Salem, Hope Creek and Peach Bottom and its maximum aggregate annual assessment per incident is $65 million. If the damages exceed the limit of liability, Congress could impose further revenue-raising measures on the nuclear industry to pay claims. Further, a decision by the U.S. Supreme Court, not involving PSEG Power, held that the Price-Anderson Act did not preclude punitive damage awards based on state law claims. PSEG Power is also a member of an industry mutual insurance company, Nuclear Electric Insurance Limited (NEIL), which provides the property, decontamination and decommissioning liability insurance at the Salem and Hope Creek site and the Peach Bottom site. NEIL also provides replacement power coverage through its accidental outage policy. NEIL policies may make retrospective premium assessments in the case of adverse loss experience. The current maximum aggregate annual retrospective premium obligation for PSEG Power is approximately $46 million. NEIL requires its members to maintain an investment grade credit rating or to ensure collectability of their annual retrospective premium obligation by providing a financial guarantee, letter of credit, deposit premium, or some other means of assurance. Certain provisions in the NEIL policies provide that the insurer may suspend coverage with respect to all nuclear units on a site without notice if the NRC suspends or revokes the operating license for any unit on that site, issues a shutdown order with respect to such unit or issues a confirmatory order keeping such unit down. The ANI and NEIL policies all include coverage for claims arising out of acts of terrorism. However, NEIL policies are subject to an industry aggregate limit of $3.2 billion plus such additional amounts as NEIL recovers for such losses from reinsurance, indemnity and any other source applicable to such losses.
Public Service Electric and Gas Company
Other Commitments [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 December 31, 2022 and 2021. As of December 31, 2022 As of December 31, 2021 Millions Face Value of Outstanding Guarantees $ 1,601 $ 1,959 Exposure under Current Guarantees $ 198 $ 176 Letters of Credit Margin Posted $ 87 $ 80 Letters of Credit Margin Received $ 38 $ 242 Cash Deposited and Received Counterparty Cash Collateral Deposited $ — $ 60 Counterparty Cash Collateral Received $ (1) $ (1) Net Broker Balance Deposited (Received) $ 1,522 $ 785 Additional Amounts Posted Other Letters of Credit $ 156 $ 67 As part of determining credit exposure, PSEG Power nets receivables and payables with the corresponding net fair values of energy contracts. See Note 18. 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 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. The EPA has announced two separate cleanup plans for the Lower 8.3 miles and Upper 9 miles of the LPRSA. The EPA’s plan for the Lower 8.3 miles involves dredging and capping sediments at an estimated cost of $2.3 billion, and its plan for the Upper 9 miles involves dredging and capping sediments at an estimated cost of $550 million. Additional cleanup work may be required depending on the results of these initial phases of work. In December 2022, the EPA announced a proposed settlement with 85 parties who have agreed to pay $150 million to resolve their LPRSA CERCLA liability, in whole or in part. The EPA has explained that the settlement was the outcome of an EPA-sponsored process where the EPA hired a cost allocator to recommend shares of LPRSA cleanup costs. The allocator’s Final Allocation Recommendation Report is available on the EPA’s website, and the proposed settlement is subject to public comment and judicial review. It is uncertain whether the settlement will be finalized as currently proposed, and the allocation did not address certain costs incurred by the EPA for which it may be entitled to reimbursement and which may be material. PSE&G and PSEG Power are not included in the proposed settlement, 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. PSEG submitted a good faith offer to the EPA in June 2022 on behalf of PSE&G and PSEG Power. PSEG understands that the EPA is evaluating its offer. The EPA may commence the next phases of 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. Occidental Chemical Corporation has commenced the design of the Lower 8.3 Record of Decision 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 Potentially Responsible Parties (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 December 31, 2022, PSEG has approximately $66 million accrued for this matter. 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 21 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 September 2022, the EPA announced it had designated the lower 18.75 miles of the Hackensack River a federal Superfund site. PSE&G and certain of its predecessors conducted operations at properties in this area, including at the Hudson, Bergen and Kearny generating stations that were transferred to PSEG Power. PSEG Power subsequently contractually transferred all land rights and structures on the Hudson generating station site to a third-party purchaser, along with the assumption of the environmental liabilities for that site. 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, PSE&G has determined that the estimated cost to remediate all MGP sites to completion could range between $206 million and $226 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 $206 million as of December 31, 2022. Of this amount, $35 million was recorded in Other Current Liabilities and $171 million was reflected as Environmental Costs in Noncurrent Liabilities. PSE&G has recorded a $206 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. Legacy Environmental Obligations at Former Fossil Generating Sites PSEG Power has retained ownership of certain liabilities excluded from the 2022 sale of its fossil generation portfolio. These liabilities primarily relate to obligations under the New Jersey Industrial Site Recovery Act (ISRA) and the Connecticut Transfer Act (CTA) to investigate and remediate PSEG Power’s two formerly owned generating station sites in Connecticut, and six formerly owned generating station sites in New Jersey. In addition, PSEG Power still owns two former generating station sites in New Jersey that triggered ISRA in 2015. PSEG Power is in the process of fulfilling its obligations under ISRA and the CTA to investigate these sites. It will require multiple years and comprehensive environmental sampling to understand the extent of and to carry out the required remediation. The full remediation costs at each of the ten sites are not estimable, but will likely be material. 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 and scheduled a hearing in September 2023. 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 are responsible for fulfilling all the requirements of a PJM load-serving entity including the provision of capacity, energy, ancillary services 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. 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, 2023 is $330.72 per MW-day, replacing the BGS-CIEP auction year price ending May 31, 2023 of $276.26 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 2020 2021 2022 2023 36-Month Terms Ending May 2023 May 2024 May 2025 May 2026 (A) Load (MW) 2,800 2,900 2,800 2,800 $ per MWh $102.16 $64.80 $76.30 $93.11 (A) Prices set in the 2023 BGS auction will become effective on June 1, 2023 when the 2020 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 26. 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 2024 and a significant portion through 2025 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 December 31, 2022, the total minimum purchase requirements included in these commitments were as follows: Fuel Type PSEG Power’s Share of Commitments through 2027 Millions Nuclear Fuel Uranium $ 390 Enrichment $ 327 Fabrication $ 189 Natural Gas $ 1,310 Pending FERC Matters 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. PSE&G is 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. 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 audit reviews 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 is 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 data collection (written discovery and interviews) has concluded. The BPU Audit Staff are in the process of finalizing their report. 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, which at the time was 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. Coronavirus Pandemic The COVID-19 pandemic and associated government actions and economic effects continue to impact our businesses. PSEG and its subsidiaries have incurred additional expenses to protect our employees and customers, and PSE&G is experiencing significantly higher bad debts and lower cash collections from customers due to the moratorium on shut-offs for residential customers that was extended through March 15, 2022. Although collections and shut-offs re-commenced in mid-March 2022, in late March 2022, New Jersey passed legislation that provided protection from shut-offs to customers who applied for payment assistance programs with those applying for assistance protected from shut-offs while awaiting their application determination. PSE&G has deferred the impact of the COVID-19 costs for future recovery, and in December 2022, the BPU determined that the deferral period will end on March 15, 2023. The potential future impact of the pandemic and the associated economic impacts, which could extend beyond the duration of the pandemic, could have risks that drive certain accounting considerations. The ultimate impact of the coronavirus pandemic is highly uncertain and cannot be predicted at this time. Nuclear Insurance Coverages and Assessments PSEG Power is a member of the joint underwriting association, American Nuclear Insurers (ANI), which provides nuclear liability insurance coverage at the Salem and Hope Creek site and the Peach Bottom site. The ANI policies are designed to satisfy the financial protection requirements outlined in the Price-Anderson Act, which sets the limit of liability for claims that could arise from an incident involving any licensed nuclear facility in the United States. The limit of liability per incident per site is composed of primary and excess layers. As of December 31, 2022, nuclear sites were required to purchase $450 million of primary liability coverage for each site through ANI. The primary layer is supplemented by an excess layer, which is an industry self-insurance pool. In the event a nuclear site, which is part of the industry self-insurance pool, has a claim that exceeds the primary layer, each licensee would be assessed a prorated share of the excess layer. The excess layer limit is $13.2 billion. PSEG Power’s maximum aggregate assessment per incident is $433 million based on PSEG Power’s ownership interests in Salem, Hope Creek and Peach Bottom and its maximum aggregate annual assessment per incident is $65 million. If the damages exceed the limit of liability, Congress could impose further revenue-raising measures on the nuclear industry to pay claims. Further, a decision by the U.S. Supreme Court, not involving PSEG Power, held that the Price-Anderson Act did not preclude punitive damage awards based on state law claims. PSEG Power is also a member of an industry mutual insurance company, Nuclear Electric Insurance Limited (NEIL), which provides the property, decontamination and decommissioning liability insurance at the Salem and Hope Creek site and the Peach Bottom site. NEIL also provides replacement power coverage through its accidental outage policy. NEIL policies may make retrospective premium assessments in the case of adverse loss experience. The current maximum aggregate annual retrospective premium obligation for PSEG Power is approximately $46 million. NEIL requires its members to maintain an investment grade credit rating or to ensure collectability of their annual retrospective premium obligation by providing a financial guarantee, letter of credit, deposit premium, or some other means of assurance. Certain provisions in the NEIL policies provide that the insurer may suspend coverage with respect to all nuclear units on a site without notice if the NRC suspends or revokes the operating license for any unit on that site, issues a shutdown order with respect to such unit or issues a confirmatory order keeping such unit down. The ANI and NEIL policies all include coverage for claims arising out of acts of terrorism. However, NEIL policies are subject to an industry aggregate limit of $3.2 billion plus such additional amounts as NEIL recovers for such losses from reinsurance, indemnity and any other source applicable to such losses.

Debt and Credit Facilities

Debt and Credit Facilities	12 Months Ended
	Dec. 31, 2022
Debt Instrument [Line Items]
Schedule Of Consolidated Debt	Debt and Credit Facilities Long-Term Debt As of December 31, Maturity 2022 2021 Millions PSEG Senior Notes: 2.65% 2022 $ — $ 700 0.84% 2023 750 750 2.88% 2024 750 750 0.80% 2025 550 550 5.85% 2027 700 — 1.60% 2030 550 550 2.45% 2031 750 750 8.63% (A) 2031 96 96 Total Senior Notes 4,146 4,146 Principal Amount Outstanding 4,146 4,146 Amounts Due Within One Year (750) (700) Net Unamortized Discount and Debt Issuance Costs (22) (22) Total Long-Term Debt of PSEG $ 3,374 $ 3,424 As of December 31, Maturity 2022 2021 Millions PSE&G First and Refunding Mortgage Bonds (B): 8.00% 2037 $ 7 $ 7 5.00% 2037 8 8 Total First and Refunding Mortgage Bonds 15 15 Medium-Term Notes (B): 2.38% 2023 500 500 3.25% 2023 325 325 3.75% 2024 250 250 3.15% 2024 250 250 3.05% 2024 250 250 3.00% 2025 350 350 0.95% 2026 450 450 2.25% 2026 425 425 3.00% 2027 425 425 3.70% 2028 375 375 3.65% 2028 325 325 3.20% 2029 375 375 2.45% 2030 300 300 1.90% 2031 425 425 3.10% 2032 500 — 4.90% 2032 400 — 5.25% 2035 250 250 5.70% 2036 250 250 5.80% 2037 350 350 5.38% 2039 250 250 5.50% 2040 300 300 3.95% 2042 450 450 3.65% 2042 350 350 3.80% 2043 400 400 4.00% 2044 250 250 4.05% 2045 250 250 4.15% 2045 250 250 3.80% 2046 550 550 3.60% 2047 350 350 4.05% 2048 325 325 3.85% 2049 375 375 3.20% 2049 400 400 3.15% 2050 300 300 2.70% 2050 375 375 2.05% 2050 375 375 3.00% 2051 450 450 Total MTNs 12,775 11,875 Principal Amount Outstanding 12,790 11,890 Amounts Due Within One Year (825) — Net Unamortized Discount and Selling Expense (94) (95) Total Long-Term Debt of PSE&G $ 11,871 $ 11,795 As of December 31, Maturity 2022 2021 Millions PSEG Power Term Loan: Variable Rate 2025 $ 1,250 $ — Total Term Loan 1,250 — Total Long-Term Debt of PSEG Power $ 1,250 $ — (A) In December 2020, PSEG issued $96 million principal amount of 8.63% Senior Notes due 2031 to holders of a like principal amount of 8.63% Senior Notes due 2031 originally issued by PSEG Power who validly tendered their notes pursuant to an offer to exchange. Upon consummation of the offer to exchange, the PSEG Power notes accepted in the exchange were cancelled. The transaction resulted in a non-cash financing activity for both PSEG and PSEG Power. (B) Secured by essentially all property of PSE&G pursuant to its First and Refunding Mortgage. Long-Term Debt Maturities The aggregate principal amounts of maturities for each of the five years following December 31, 2022 are as follows: Year PSEG PSE&G PSEG Power Total Millions 2023 $ 750 $ 825 $ — $ 1,575 2024 750 750 — 1,500 2025 550 350 1,250 2,150 2026 — 875 — 875 2027 700 425 — 1,125 Thereafter 1,396 9,565 — 10,961 Total $ 4,146 $ 12,790 $ 1,250 $ 18,186 Long-Term Debt Financing Transactions During 2022, PSEG and its subsidiaries had the following Long-Term Debt issuances and maturity: PSEG • issued $700 million of 5.85% Senior Notes due November 2027, and • retired $700 million of 2.65% Senior Notes at maturity. PSE&G • issued $500 million of 3.10% Secured Medium-Term Notes, Series P, due March 2032, and • issued $400 million of 4.90% Secured Medium-Term Notes, Series P, due December 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. The commitments under the $4.2 billion credit facilities are provided by a diverse bank group. As of December 31, 2022, the total available credit capacity was $3.7 billion. As of December 31, 2022, no single institution represented more than 10% of the total commitments in the credit facilities. As of December 31, 2022, the total credit capacity was in excess of the anticipated maximum liquidity requirements over PSEG’s 12-month planning horizon, including access to external financing to meet redemptions. 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 December 31, 2022 were as follows: As of December 31, 2022 Company/Facility Total Usage (B) Available Expiration Primary Purpose Millions PSEG Revolving Credit Facility (A) $ 1,500 $ 202 $ 1,298 Mar 2027 Commercial Paper Support/Funding/Letters of Credit Total PSEG $ 1,500 $ 202 $ 1,298 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 $ 63 $ 1,187 Mar 2027 Funding/Letters of Credit Letter of Credit Facility 100 32 $ 68 Apr 2024 Letters of Credit Letter of Credit Facility 200 120 $ 80 Sept 2024 Letters of Credit Letter of Credit Facility 100 26 $ 74 Apr 2025 Letters of Credit Total PSEG Power $ 1,650 $ 241 $ 1,409 Total (C) $ 4,150 $ 461 $ 3,689 (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 December 31, 2022, PSEG had $200 million outstanding at a weighted average interest rate of 4.4%. PSE&G had no Commercial Paper outstanding as of December 31, 2022. (C) Amounts do not include uncommitted credit facilities. In September 2022, a subsidiary of PSEG Power entered into an uncommitted credit facility for $200 million, which can be drawn to fund its cash collateral postings. As of December 31, 2022, there were no amounts outstanding under this facility. Debt Covenants PSEG Power’s existing credit agreements contain covenants restricting the ability of PSEG Power and its subsidiaries that guarantee its indebtedness from consummating certain mergers, consolidations or asset sales. Net Cash Collateral Postings During the second half of 2021 and continuing throughout 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 December 2022. Subsequent to December 2022, collateral postings have decreased but PSEG Power continued to experience significant fluctuations in its daily collateral requirements. Net cash collateral postings were approximately $700 million as of February 17, 2023. As historical lower-priced trades continue to settle through 2024, collateral is expected to be returned as PSEG Power satisfies its obligations under those contracts. Proceeds from the sale of Fossil, the closing of a $1.25 billion term loan in March 2022 at PSEG Power, and short-term borrowings at PSEG have contributed to available liquidity to help support PSEG Power’s 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. In July 2022, PSEG repaid the $1.25 billion term loan due in August 2022. In April 2022 and May 2022, PSEG entered into 364-day variable rate term loan agreements for $1.5 billion and $500 million, respectively. In January 2023, PSEG repaid $750 million of the $1.5 billion term loan due in April 2023. Fair Value of Debt The estimated fair values, carrying amounts and methods used to determine the fair values of long-term debt as of December 31, 2022 and 2021 are included in the following table and accompanying notes as of December 31, 2022 and 2021. See Note 19. Fair Value Measurements for more information on fair value guidance and the hierarchy that prioritizes the inputs to fair value measurements into three levels. December 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Millions Long-Term Debt: PSEG (A) $ 4,124 $ 3,808 $ 4,124 $ 4,172 PSE&G (A) 12,696 11,106 11,795 13,374 PSEG Power (B) 1,250 1,250 — — Total Long-Term Debt $ 18,070 $ 16,164 $ 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.
Public Service Electric and Gas Company
Debt Instrument [Line Items]
Schedule Of Consolidated Debt	Debt and Credit Facilities Long-Term Debt As of December 31, Maturity 2022 2021 Millions PSEG Senior Notes: 2.65% 2022 $ — $ 700 0.84% 2023 750 750 2.88% 2024 750 750 0.80% 2025 550 550 5.85% 2027 700 — 1.60% 2030 550 550 2.45% 2031 750 750 8.63% (A) 2031 96 96 Total Senior Notes 4,146 4,146 Principal Amount Outstanding 4,146 4,146 Amounts Due Within One Year (750) (700) Net Unamortized Discount and Debt Issuance Costs (22) (22) Total Long-Term Debt of PSEG $ 3,374 $ 3,424 As of December 31, Maturity 2022 2021 Millions PSE&G First and Refunding Mortgage Bonds (B): 8.00% 2037 $ 7 $ 7 5.00% 2037 8 8 Total First and Refunding Mortgage Bonds 15 15 Medium-Term Notes (B): 2.38% 2023 500 500 3.25% 2023 325 325 3.75% 2024 250 250 3.15% 2024 250 250 3.05% 2024 250 250 3.00% 2025 350 350 0.95% 2026 450 450 2.25% 2026 425 425 3.00% 2027 425 425 3.70% 2028 375 375 3.65% 2028 325 325 3.20% 2029 375 375 2.45% 2030 300 300 1.90% 2031 425 425 3.10% 2032 500 — 4.90% 2032 400 — 5.25% 2035 250 250 5.70% 2036 250 250 5.80% 2037 350 350 5.38% 2039 250 250 5.50% 2040 300 300 3.95% 2042 450 450 3.65% 2042 350 350 3.80% 2043 400 400 4.00% 2044 250 250 4.05% 2045 250 250 4.15% 2045 250 250 3.80% 2046 550 550 3.60% 2047 350 350 4.05% 2048 325 325 3.85% 2049 375 375 3.20% 2049 400 400 3.15% 2050 300 300 2.70% 2050 375 375 2.05% 2050 375 375 3.00% 2051 450 450 Total MTNs 12,775 11,875 Principal Amount Outstanding 12,790 11,890 Amounts Due Within One Year (825) — Net Unamortized Discount and Selling Expense (94) (95) Total Long-Term Debt of PSE&G $ 11,871 $ 11,795 As of December 31, Maturity 2022 2021 Millions PSEG Power Term Loan: Variable Rate 2025 $ 1,250 $ — Total Term Loan 1,250 — Total Long-Term Debt of PSEG Power $ 1,250 $ — (A) In December 2020, PSEG issued $96 million principal amount of 8.63% Senior Notes due 2031 to holders of a like principal amount of 8.63% Senior Notes due 2031 originally issued by PSEG Power who validly tendered their notes pursuant to an offer to exchange. Upon consummation of the offer to exchange, the PSEG Power notes accepted in the exchange were cancelled. The transaction resulted in a non-cash financing activity for both PSEG and PSEG Power. (B) Secured by essentially all property of PSE&G pursuant to its First and Refunding Mortgage. Long-Term Debt Maturities The aggregate principal amounts of maturities for each of the five years following December 31, 2022 are as follows: Year PSEG PSE&G PSEG Power Total Millions 2023 $ 750 $ 825 $ — $ 1,575 2024 750 750 — 1,500 2025 550 350 1,250 2,150 2026 — 875 — 875 2027 700 425 — 1,125 Thereafter 1,396 9,565 — 10,961 Total $ 4,146 $ 12,790 $ 1,250 $ 18,186 Long-Term Debt Financing Transactions During 2022, PSEG and its subsidiaries had the following Long-Term Debt issuances and maturity: PSEG • issued $700 million of 5.85% Senior Notes due November 2027, and • retired $700 million of 2.65% Senior Notes at maturity. PSE&G • issued $500 million of 3.10% Secured Medium-Term Notes, Series P, due March 2032, and • issued $400 million of 4.90% Secured Medium-Term Notes, Series P, due December 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. The commitments under the $4.2 billion credit facilities are provided by a diverse bank group. As of December 31, 2022, the total available credit capacity was $3.7 billion. As of December 31, 2022, no single institution represented more than 10% of the total commitments in the credit facilities. As of December 31, 2022, the total credit capacity was in excess of the anticipated maximum liquidity requirements over PSEG’s 12-month planning horizon, including access to external financing to meet redemptions. 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 December 31, 2022 were as follows: As of December 31, 2022 Company/Facility Total Usage (B) Available Expiration Primary Purpose Millions PSEG Revolving Credit Facility (A) $ 1,500 $ 202 $ 1,298 Mar 2027 Commercial Paper Support/Funding/Letters of Credit Total PSEG $ 1,500 $ 202 $ 1,298 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 $ 63 $ 1,187 Mar 2027 Funding/Letters of Credit Letter of Credit Facility 100 32 $ 68 Apr 2024 Letters of Credit Letter of Credit Facility 200 120 $ 80 Sept 2024 Letters of Credit Letter of Credit Facility 100 26 $ 74 Apr 2025 Letters of Credit Total PSEG Power $ 1,650 $ 241 $ 1,409 Total (C) $ 4,150 $ 461 $ 3,689 (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 December 31, 2022, PSEG had $200 million outstanding at a weighted average interest rate of 4.4%. PSE&G had no Commercial Paper outstanding as of December 31, 2022. (C) Amounts do not include uncommitted credit facilities. In September 2022, a subsidiary of PSEG Power entered into an uncommitted credit facility for $200 million, which can be drawn to fund its cash collateral postings. As of December 31, 2022, there were no amounts outstanding under this facility. Debt Covenants PSEG Power’s existing credit agreements contain covenants restricting the ability of PSEG Power and its subsidiaries that guarantee its indebtedness from consummating certain mergers, consolidations or asset sales. Net Cash Collateral Postings During the second half of 2021 and continuing throughout 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 December 2022. Subsequent to December 2022, collateral postings have decreased but PSEG Power continued to experience significant fluctuations in its daily collateral requirements. Net cash collateral postings were approximately $700 million as of February 17, 2023. As historical lower-priced trades continue to settle through 2024, collateral is expected to be returned as PSEG Power satisfies its obligations under those contracts. Proceeds from the sale of Fossil, the closing of a $1.25 billion term loan in March 2022 at PSEG Power, and short-term borrowings at PSEG have contributed to available liquidity to help support PSEG Power’s 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. In July 2022, PSEG repaid the $1.25 billion term loan due in August 2022. In April 2022 and May 2022, PSEG entered into 364-day variable rate term loan agreements for $1.5 billion and $500 million, respectively. In January 2023, PSEG repaid $750 million of the $1.5 billion term loan due in April 2023. Fair Value of Debt The estimated fair values, carrying amounts and methods used to determine the fair values of long-term debt as of December 31, 2022 and 2021 are included in the following table and accompanying notes as of December 31, 2022 and 2021. See Note 19. Fair Value Measurements for more information on fair value guidance and the hierarchy that prioritizes the inputs to fair value measurements into three levels. December 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Millions Long-Term Debt: PSEG (A) $ 4,124 $ 3,808 $ 4,124 $ 4,172 PSE&G (A) 12,696 11,106 11,795 13,374 PSEG Power (B) 1,250 1,250 — — Total Long-Term Debt $ 18,070 $ 16,164 $ 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.

Schedule Of Consolidated Capita

Schedule Of Consolidated Capital Stock	12 Months Ended
	Dec. 31, 2022
Class of Stock [Line Items]
Schedule of Consolidated Capital Stock	Schedule of Consolidated Capital Stock As of December 31, Outstanding Shares Book Value 2022 2021 2022 2021 Millions PSEG Common Stock (no par value) (A) Authorized 1,000 shares 497 504 $ 3,688 $ 4,149 (A) PSEG did not issue any new shares under the Dividend Reinvestment and Stock Purchase Plan or the Employee Stock Purchase Plan (ESPP) in 2022 or 2021. As of December 31, 2022, PSE&G had an aggregate of 7.5 million shares of $100 par value and 10 million shares of $25 par value Cumulative Preferred Stock, which were authorized and unissued and which, upon issuance, may or may not provide for mandatory sinking fund redemption.
Public Service Electric and Gas Company
Class of Stock [Line Items]
Schedule of Consolidated Capital Stock	Schedule of Consolidated Capital Stock As of December 31, Outstanding Shares Book Value 2022 2021 2022 2021 Millions PSEG Common Stock (no par value) (A) Authorized 1,000 shares 497 504 $ 3,688 $ 4,149 (A) PSEG did not issue any new shares under the Dividend Reinvestment and Stock Purchase Plan or the Employee Stock Purchase Plan (ESPP) in 2022 or 2021. As of December 31, 2022, PSE&G had an aggregate of 7.5 million shares of $100 par value and 10 million shares of $25 par value Cumulative Preferred Stock, which were authorized and unissued and which, upon issuance, may or may not provide for mandatory sinking fund redemption.

Financial Risk Management Activ

Financial Risk Management Activities	12 Months Ended
	Dec. 31, 2022
Derivative [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 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 15. Commitments and Contingent Liabilities. In December 2022, PSEG sold seven tranches of a physical load transaction that previously had qualified for NPNS resulting in a taint of our physical load portfolio since it was determined that the transaction no longer met the scope exception. As such, the fair value of the remaining open positions resulted in a loss of $38 million recorded in earnings. Additionally, prospective 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, interest rate swaps and interest rate lock agreements. 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. As of December 31, 2022, PSEG had interest rate hedges outstanding totaling $1.05 billion that were executed during the latter half of 2022. PSEG executed these interest rate swaps to convert PSEG Parent’s $500 million variable rate term loan due May 2023 and a portion of PSEG Power’s $1.25 billion variable rate term loan due March 2025 into fixed rate loans. The fair value of these hedges was $1 million as of December 31, 2022 and there were no outstanding interest rate hedges as of December 31, 2021. In October 2022, PSEG also entered into three Treasury lock agreements with a notional amount of $350 million to fix the Treasury yield component of the interest cost of financing associated with a then anticipated long-term debt issuance. The associated long-term debt of $700 million was priced on November 4, 2022, and PSEG elected, in accordance with the terms of the Treasury lock agreements, to settle these agreements with an immaterial cash payment to the counterparties which PSEG expensed. The Accumulated Other Comprehensive Income (Loss) (after tax) related to outstanding and terminated interest rate derivatives designated as cash flow hedges was $(3) million and $(6) million as of December 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 immaterial. Fair Values of Derivative Instruments The following are the fair values of derivative instruments on the 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 Consolidated Balance Sheets of PSEG. For additional information see Note 19. 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 December 31, 2022 and 2021. The following tabular disclosure does not include the offsetting of trade receivables and payables. As of December 31, 2022 PSEG PSEG Power Consolidated Cash Flow Not Designated Balance Sheet Location Interest Energy- Netting ( A ) Total Total Millions Derivative Contracts Current Assets $ 4 $ 1,721 $ (1,707) $ 14 $ 18 Noncurrent Assets — 629 (614) 15 15 Total Mark-to-Market Derivative Assets $ 4 $ 2,350 $ (2,321) $ 29 $ 33 Derivative Contracts Current Liabilities $ — $ (2,447) $ 2,323 $ (124) $ (124) Noncurrent Liabilities (3) (1,139) 1,109 (30) (33) Total Mark-to-Market Derivative (Liabilities) $ (3) $ (3,586) $ 3,432 $ (154) $ (157) Total Net Mark-to-Market Derivative Assets (Liabilities) $ 1 $ (1,236) $ 1,111 $ (125) $ (124) As of December 31, 2021 PSEG Power Consolidated 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 cash collateral. All cash collateral (received) posted that has been allocated to derivative positions, where the right of offset exists, has been offset on the Consolidated Balance Sheets. As of December 31, 2022 and 2021, PSEG Power had net cash collateral payments to counterparties of $1,521 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,111 million as of December 31, 2022 and $615 million as of December 31, 2021 were netted against the corresponding net derivative contract positions. Of the $1,111 million as of December 31, 2022, $616 million was netted against current liabilities and $495 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 non-current 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 $190 million and $75 million as of December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, PSEG Power had the contractual right of offset of $41 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 $149 million and $46 million as of December 31, 2022 and 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 Consolidated Statements of Operations and on Accumulated Other Comprehensive Loss (AOCL) of derivative instruments designated as cash flow hedges for the years ended December 31, 2022, 2021 and 2020. Amount of Pre-Tax Location of Amount of Pre-Tax Derivatives in Cash Flow Hedging Relationships Years Ended Years Ended 2022 2021 2020 2022 2021 2020 Millions Millions Interest Rate Swaps $ — $ — $ (6) Interest Expense $ (5) $ (4) $ (14) Total $ — $ — $ (6) $ (5) $ (4) $ (14) The effect of interest rate cash flow hedges is recorded in Interest Expense in PSEG’s Consolidated Statement of Operations. For the year ended December 31, 2022, the amount of loss on interest rate hedges reclassified from Accumulated Other Comprehensive Income (Loss) into income was $3 million, $3 million and $10 million after tax as of December 31, 2022, 2021 and 2020, 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 AOCI — — Less: Loss Reclassified into Income 4 3 Balance as of December 31, 2021 $ (9) $ (6) Loss Recognized in AOCI — — Less: Loss Reclassified into Income 5 3 Balance as of December 31, 2022 $ (4) $ (3) The following shows the effect on the Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as NPNS for the years ended December 31, 2022, 2021 and 2020. 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) Years Ended December 31, 2022 2021 2020 Millions Energy-Related Contracts Operating Revenues $ (1,748) $ (993) $ 279 Energy-Related Contracts Energy Costs 2 126 (142) Total $ (1,746) $ (867) $ 137 The amounts for the year ended December 31, 2021 in the above table have been revised from amounts reported in our December 31, 2021 Form 10-K to correct a typographical error for which Operating Revenues were inadvertently presented as a gain and Operating Expenses as a loss. This correction has no impact on the previously reported consolidated financial statements as of and for the year ended December 31, 2021. The following table summarizes the net notional volume purchases/(sales) of open derivative transactions by commodity as of December 31, 2022 and 2021. As of December 31, Type Notional 2022 2021 Millions Natural Gas Dekatherm (Dth) 49 47 Electricity MWh (60) (76) Financial Transmission Rights (FTRs) MWh 24 27 Interest Rate Swaps U.S. Dollars 1,050 — 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. As of December 31, 2022, nearly 100% of the net credit exposure for PSEG Power’s wholesale operations was with investment grade counterparties and there was only one counterparty with credit exposure that was greater than 10% of the total. This credit exposure was with PSE&G, which eliminates in consolidation. See Note 26. Related-Party Transactions for additional information. 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 guarantee 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 December 31, 2022, PSEG held parental guarantees, letters of credit and cash as security. PSE&G’s BGS suppliers’ credit exposure is calculated each business day. As of December 31, 2022, PSE&G had unsecured credit exposure of $102 million with its suppliers. As of December 31, 2022, PSE&G had no net 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
Derivative [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 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 15. Commitments and Contingent Liabilities. In December 2022, PSEG sold seven tranches of a physical load transaction that previously had qualified for NPNS resulting in a taint of our physical load portfolio since it was determined that the transaction no longer met the scope exception. As such, the fair value of the remaining open positions resulted in a loss of $38 million recorded in earnings. Additionally, prospective 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, interest rate swaps and interest rate lock agreements. 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. As of December 31, 2022, PSEG had interest rate hedges outstanding totaling $1.05 billion that were executed during the latter half of 2022. PSEG executed these interest rate swaps to convert PSEG Parent’s $500 million variable rate term loan due May 2023 and a portion of PSEG Power’s $1.25 billion variable rate term loan due March 2025 into fixed rate loans. The fair value of these hedges was $1 million as of December 31, 2022 and there were no outstanding interest rate hedges as of December 31, 2021. In October 2022, PSEG also entered into three Treasury lock agreements with a notional amount of $350 million to fix the Treasury yield component of the interest cost of financing associated with a then anticipated long-term debt issuance. The associated long-term debt of $700 million was priced on November 4, 2022, and PSEG elected, in accordance with the terms of the Treasury lock agreements, to settle these agreements with an immaterial cash payment to the counterparties which PSEG expensed. The Accumulated Other Comprehensive Income (Loss) (after tax) related to outstanding and terminated interest rate derivatives designated as cash flow hedges was $(3) million and $(6) million as of December 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 immaterial. Fair Values of Derivative Instruments The following are the fair values of derivative instruments on the 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 Consolidated Balance Sheets of PSEG. For additional information see Note 19. 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 December 31, 2022 and 2021. The following tabular disclosure does not include the offsetting of trade receivables and payables. As of December 31, 2022 PSEG PSEG Power Consolidated Cash Flow Not Designated Balance Sheet Location Interest Energy- Netting ( A ) Total Total Millions Derivative Contracts Current Assets $ 4 $ 1,721 $ (1,707) $ 14 $ 18 Noncurrent Assets — 629 (614) 15 15 Total Mark-to-Market Derivative Assets $ 4 $ 2,350 $ (2,321) $ 29 $ 33 Derivative Contracts Current Liabilities $ — $ (2,447) $ 2,323 $ (124) $ (124) Noncurrent Liabilities (3) (1,139) 1,109 (30) (33) Total Mark-to-Market Derivative (Liabilities) $ (3) $ (3,586) $ 3,432 $ (154) $ (157) Total Net Mark-to-Market Derivative Assets (Liabilities) $ 1 $ (1,236) $ 1,111 $ (125) $ (124) As of December 31, 2021 PSEG Power Consolidated 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 cash collateral. All cash collateral (received) posted that has been allocated to derivative positions, where the right of offset exists, has been offset on the Consolidated Balance Sheets. As of December 31, 2022 and 2021, PSEG Power had net cash collateral payments to counterparties of $1,521 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,111 million as of December 31, 2022 and $615 million as of December 31, 2021 were netted against the corresponding net derivative contract positions. Of the $1,111 million as of December 31, 2022, $616 million was netted against current liabilities and $495 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 non-current 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 $190 million and $75 million as of December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, PSEG Power had the contractual right of offset of $41 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 $149 million and $46 million as of December 31, 2022 and 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 Consolidated Statements of Operations and on Accumulated Other Comprehensive Loss (AOCL) of derivative instruments designated as cash flow hedges for the years ended December 31, 2022, 2021 and 2020. Amount of Pre-Tax Location of Amount of Pre-Tax Derivatives in Cash Flow Hedging Relationships Years Ended Years Ended 2022 2021 2020 2022 2021 2020 Millions Millions Interest Rate Swaps $ — $ — $ (6) Interest Expense $ (5) $ (4) $ (14) Total $ — $ — $ (6) $ (5) $ (4) $ (14) The effect of interest rate cash flow hedges is recorded in Interest Expense in PSEG’s Consolidated Statement of Operations. For the year ended December 31, 2022, the amount of loss on interest rate hedges reclassified from Accumulated Other Comprehensive Income (Loss) into income was $3 million, $3 million and $10 million after tax as of December 31, 2022, 2021 and 2020, 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 AOCI — — Less: Loss Reclassified into Income 4 3 Balance as of December 31, 2021 $ (9) $ (6) Loss Recognized in AOCI — — Less: Loss Reclassified into Income 5 3 Balance as of December 31, 2022 $ (4) $ (3) The following shows the effect on the Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as NPNS for the years ended December 31, 2022, 2021 and 2020. 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) Years Ended December 31, 2022 2021 2020 Millions Energy-Related Contracts Operating Revenues $ (1,748) $ (993) $ 279 Energy-Related Contracts Energy Costs 2 126 (142) Total $ (1,746) $ (867) $ 137 The amounts for the year ended December 31, 2021 in the above table have been revised from amounts reported in our December 31, 2021 Form 10-K to correct a typographical error for which Operating Revenues were inadvertently presented as a gain and Operating Expenses as a loss. This correction has no impact on the previously reported consolidated financial statements as of and for the year ended December 31, 2021. The following table summarizes the net notional volume purchases/(sales) of open derivative transactions by commodity as of December 31, 2022 and 2021. As of December 31, Type Notional 2022 2021 Millions Natural Gas Dekatherm (Dth) 49 47 Electricity MWh (60) (76) Financial Transmission Rights (FTRs) MWh 24 27 Interest Rate Swaps U.S. Dollars 1,050 — 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. As of December 31, 2022, nearly 100% of the net credit exposure for PSEG Power’s wholesale operations was with investment grade counterparties and there was only one counterparty with credit exposure that was greater than 10% of the total. This credit exposure was with PSE&G, which eliminates in consolidation. See Note 26. Related-Party Transactions for additional information. 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 guarantee 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 December 31, 2022, PSEG held parental guarantees, letters of credit and cash as security. PSE&G’s BGS suppliers’ credit exposure is calculated each business day. As of December 31, 2022, PSE&G had unsecured credit exposure of $102 million with its suppliers. As of December 31, 2022, PSE&G had no net 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	12 Months Ended
	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [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 December 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 December 31, 2022 Description Total Netting (E) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Millions PSEG Assets: Cash Equivalents (A) $ 385 $ — $ 385 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 29 $ (2,321) $ 42 $ 2,307 $ 1 Interest Rate Swaps (C) $ 4 $ — $ — $ 4 $ — NDT Fund (D) Equity Securities $ 1,072 $ — $ 1,072 $ — $ — Debt Securities—U.S. Treasury $ 288 $ — $ — $ 288 $ — Debt Securities—Govt Other $ 339 $ — $ — $ 339 $ — Debt Securities—Corporate $ 529 $ — $ — $ 529 $ — Rabbi Trust (D) Equity Securities $ 20 $ — $ 20 $ — $ — Debt Securities—U.S. Treasury $ 57 $ — $ — $ 57 $ — Debt Securities—Govt Other $ 32 $ — $ — $ 32 $ — Debt Securities—Corporate $ 74 $ — $ — $ 74 $ — Liabilities: Derivative Contracts: Energy-Related Contracts (B) $ (154) $ 3,432 $ (3) $ (3,537) $ (46) Interest Rate Swaps (C) $ (3) $ — $ — $ (3) $ — PSE&G Assets: Cash Equivalents (A) $ 165 $ — $ 165 $ — $ — Rabbi Trust (D) Equity Securities $ 3 $ — $ 3 $ — $ — Debt Securities—U.S. Treasury $ 10 $ — $ — $ 10 $ — Debt Securities—Govt Other $ 6 $ — $ — $ 6 $ — Debt Securities—Corporate $ 13 $ — $ — $ 13 $ — Recurring Fair Value Measurements as of December 31, 2021 Description Total Netting (E) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Millions PSEG Assets: Cash Equivalents (A) $ 615 $ — $ 615 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 100 $ (1,262) $ 25 $ 1,336 $ 1 NDT Fund (D) 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 (D) 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 (D) 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) Interest rate swaps are valued using quoted prices on commonly quoted intervals, which are interpolated for periods different than the quoted intervals, as inputs to a market valuation model. Market inputs can generally be verified and model selection does not involve significant management judgement . (D) As of December 31, 2022 and 2021, the fair value measurement table excludes cash and foreign currency of $2 million in the NDT Fund. 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. (E) Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. See Note 18. 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 December 31, 2022, PSEG carried $2.7 billion of net assets that were measured at fair value on a recurring basis, of which $45 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 December 31, 2021, PSEG carried $3.6 billion of net assets that were measured at fair value on a recurring basis, of which $4 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 in 2022 and 2021 to or from Level 3.
Public Service Electric and Gas Company
Fair Value, Balance Sheet Grouping, Financial Statement Captions [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 December 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 December 31, 2022 Description Total Netting (E) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Millions PSEG Assets: Cash Equivalents (A) $ 385 $ — $ 385 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 29 $ (2,321) $ 42 $ 2,307 $ 1 Interest Rate Swaps (C) $ 4 $ — $ — $ 4 $ — NDT Fund (D) Equity Securities $ 1,072 $ — $ 1,072 $ — $ — Debt Securities—U.S. Treasury $ 288 $ — $ — $ 288 $ — Debt Securities—Govt Other $ 339 $ — $ — $ 339 $ — Debt Securities—Corporate $ 529 $ — $ — $ 529 $ — Rabbi Trust (D) Equity Securities $ 20 $ — $ 20 $ — $ — Debt Securities—U.S. Treasury $ 57 $ — $ — $ 57 $ — Debt Securities—Govt Other $ 32 $ — $ — $ 32 $ — Debt Securities—Corporate $ 74 $ — $ — $ 74 $ — Liabilities: Derivative Contracts: Energy-Related Contracts (B) $ (154) $ 3,432 $ (3) $ (3,537) $ (46) Interest Rate Swaps (C) $ (3) $ — $ — $ (3) $ — PSE&G Assets: Cash Equivalents (A) $ 165 $ — $ 165 $ — $ — Rabbi Trust (D) Equity Securities $ 3 $ — $ 3 $ — $ — Debt Securities—U.S. Treasury $ 10 $ — $ — $ 10 $ — Debt Securities—Govt Other $ 6 $ — $ — $ 6 $ — Debt Securities—Corporate $ 13 $ — $ — $ 13 $ — Recurring Fair Value Measurements as of December 31, 2021 Description Total Netting (E) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Millions PSEG Assets: Cash Equivalents (A) $ 615 $ — $ 615 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 100 $ (1,262) $ 25 $ 1,336 $ 1 NDT Fund (D) 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 (D) 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 (D) 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) Interest rate swaps are valued using quoted prices on commonly quoted intervals, which are interpolated for periods different than the quoted intervals, as inputs to a market valuation model. Market inputs can generally be verified and model selection does not involve significant management judgement . (D) As of December 31, 2022 and 2021, the fair value measurement table excludes cash and foreign currency of $2 million in the NDT Fund. 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. (E) Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. See Note 18. 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 December 31, 2022, PSEG carried $2.7 billion of net assets that were measured at fair value on a recurring basis, of which $45 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 December 31, 2021, PSEG carried $3.6 billion of net assets that were measured at fair value on a recurring basis, of which $4 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 in 2022 and 2021 to or from Level 3.

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Based Compensation	Stock Based Compensation PSEG’s 2021 Long-Term Incentive Plan (2021 LTIP), approved by shareholders on April 20, 2021 and the Amended and Restated 2004 Long-Term Incentive Plan ((LTIP 2004) under which no new grants have been made effective April 20, 2021), are broad-based equity compensation programs that provide for grants of various long-term incentive compensation awards, such as stock options, stock appreciation rights, performance share units (PSUs), restricted stock, restricted stock units (RSUs), cash awards or any combination thereof. The types of long-term incentive awards that have been granted under the LTIP are non-qualified options to purchase shares of PSEG’s common stock, restricted stock unit awards and performance share unit awards. The type of equity award that is granted and the details of that award may vary from time to time and is subject to the approval of the Organization and Compensation Committee of PSEG’s Board of Directors (O&CC), the LTIP’s administrative committee. The 2021 LTIP currently provides for the issuance of equity awards with respect to 8 million shares of common stock. As of December 31, 2022, approximately 7 million shares were available for future awards under the 2021 LTIP. In addition, on April 20, 2021 shareholders approved the PSEG 2021 Equity Compensation Plan for Outside Directors (2021 BOD Plan) and the PSEG 2007 Equity Compensation Plan for Outside Directors (2007 BOD Plan) was closed to new awards. Under the 2021 BOD Plan, the only equity instrument which may be granted are Restricted Stock Units (RSUs) and the Board member must defer the award until they have achieved their stock ownership requirement. Stock Options Under the 2021 LTIP, non-qualified options to acquire shares of PSEG common stock may be granted to officers and other key employees selected by the O&CC. Option awards are granted with an exercise price equal to the market price of PSEG’s common stock at the grant date. The options generally vest over four years of continuous service. Vesting schedules may be accelerated upon the occurrence of certain events, such as a change-in-control (unless substituted with an equity award of equal value), retirement, death or disability. Options are exercisable over a period of time designated by the O&CC (but not prior to one year or longer than ten years from the date of grant) and are subject to such other terms and conditions as the O&CC determines. Payment by option holders upon exercise of an option may be made in cash or, with the consent of the O&CC, by delivering previously acquired shares of PSEG common stock. No options have been granted since 2009. RSUs Under both the 2021 LTIP and 2004 LTIP (LTIPs), PSEG has granted RSU awards to officers and other key employees. These awards, which are bookkeeping entries only, are subject to risk of forfeiture until vested by continued employment. Until distributed, the units are credited with dividend equivalent units (DEUs) proportionate to the dividends paid on PSEG common stock. Distributions are made in shares of common stock. The RSU grants for 2022 and 2021 generally vest at the end of three years. Vesting may be accelerated (pro-rated basis or full vesting) upon certain events such as change-in-control, retirement, disability or death. PSUs Under the LTIPs, PSEG has granted PSUs to officers and other key employees. These provide for distribution in shares of PSEG common stock based on achievement of certain financial goals over a performance period of three years. Following the end of the performance period, the payout varies from 0% to 200% of the number of PSUs granted depending on PSEG’s performance with respect to certain financial targets, including targets related to comparative performance against other companies in a peer group of energy companies. The PSUs are credited with DEUs proportionate to the dividends paid on PSEG common stock. Distributions are made in shares of common stock. Vesting may be accelerated on a pro-rated basis for the period of the employee’s service during the performance period as a result of certain events, such as change-in-control, retirement, death or disability. Stock-Based Compensation PSEG recognizes compensation expense for stock options based on their grant date fair values, which are determined using the Black-Scholes option-pricing model. Stock option awards are expensed on a tranche-specific basis over the requisite service period of the award. Ultimately, compensation expense for stock options is recognized for awards that vest. PSEG recognizes compensation expense for RSUs over the vesting period based on the grant date fair value of the shares, which is equal to the closing market price of PSEG’s common stock on the date of the grant. PSEG recognizes compensation expense for the total shareholder return (TSR) target for its PSU awards based on the grant date fair values of the award, which are determined using the Monte Carlo model. The following table provides the assumptions used to calculate the grant date fair value of the TSR portion of the PSU awards for 2022, 2021 and 2020: Grant Date Risk-Free Interest Rate Volatility February 15, 2022 1.76% 27.34% February 16, 2021 0.22% 27.31% February 18, 2020 1.36% 15.00% The accrual of compensation cost is based on the probable achievement of the performance conditions, which result in a payout from 0% to 200% of the initial grant. PSEG recognizes compensation expense for the return on invested capital target for its PSUs based on the grant date fair value of the awards, which is equal to the market price of PSEG’s common stock on the date of the grant. The accrual during the year of grant is estimated at 100% of the original grant. Such accrual may be adjusted to reflect the actual outcome. 2022 2021 2020 Millions Compensation Cost included in O&M Expense $ 29 $ 28 $ 35 Income Tax Benefit Recognized in Consolidated Statement of Operations $ 8 $ 8 $ 10 For each of the years 2022, 2021 and 2020, PSEG also recorded excess tax benefits of $2 million. PSEG recognizes compensation cost of awards issued over the shorter of the original vesting period or the period beginning on the date of grant and ending on the date an individual is eligible for retirement and the award vests. Stock Options There were no stock options granted or vested in 2022, 2021 and 2020. RSUs Changes in RSUs for the year ended December 31, 2022 are summarized as follows: Shares Weighted Weighted Average Aggregate Non-vested as of January 1, 2022 179,831 $ 57.83 Granted 265,359 $ 64.44 Vested 220,825 $ 62.54 Canceled/Forfeited 8,125 $ 60.85 Non-vested as of December 31, 2022 216,240 $ 61.02 1.2 $ 13,249,024 The weighted average grant date fair value per share for RSUs during the years ended December 31, 2022, 2021 and 2020 was $64.44, $58.02 and $58.85 per share, respectively. The total intrinsic value of RSUs distributed during the years ended December 31, 2022, 2021 and 2020 was $19 million, $17 million and $11 million, respectively. As of December 31, 2022, there was approximately $6 million of unrecognized compensation cost related to the RSUs, which is expected to be recognized over a weighted average period of 1.1 years. DEUs of 26,904 accrued on the RSUs during the year. PSUs Changes in PSUs for the year ended December 31, 2022 are summarized as follows: Shares Weighted Weighted Average Aggregate Non-vested as of January 1, 2022 476,354 $ 59.76 Granted 433,860 $ 68.90 Vested 467,510 $ 61.31 Canceled/Forfeited 45,694 $ 62.08 Non-vested as of December 31, 2022 397,010 $ 67.65 1.7 $ 24,324,782 The weighted average grant date fair value per share for PSUs during the years ended December 31, 2022, 2021 and 2020 was $68.90, $65.57 and $51.79 per share, respectively. The total intrinsic value of PSUs distributed during the years ended December 31, 2022, 2021 and 2020 was $18 million, $28 million and $19 million, respectively. As of December 31, 2022, there was approximately $27 million of unrecognized compensation cost related to the PSUs, which is expected to be recognized over a weighted average period of 1.7 years. DEUs of 41,862 accrued on the PSUs during the year. Outside Directors Under the closed 2007 BOD Plan and the new 2021 BOD Plan, annually, on the first business day of May, each non-employee member of the Board of Directors is awarded stock units based on the amount of annual compensation to be paid at the closing price of PSEG common stock on that date. DEUs are credited quarterly and distributions will occur as specified by their election in accordance with the provisions of the BOD Plan. The fair value of these awards is recorded as compensation expense in the Consolidated Statements of Operations. Compensation expense for the plan was $2 million for the year ended December 31, 2022, and immaterial for each of the years ended December 31, 2021 and 2020. ESPP PSEG maintains an ESPP for all eligible employees of PSEG and its subsidiaries. Under the ESPP, shares of PSEG common stock may be purchased at 95% of the fair market value for represented employees and 90% for non-represented employees through payroll deductions. Dividends are to be paid out in cash unless the participant elects the dividends to be reinvested at fair market price. All employees are required to hold the shares purchased under the ESPP for at least three months from the purchase date. In any year, employees may purchase shares having a value not exceeding 10% of their base pay. Compensation expense recognized under this program was $2 million for each of the years ended December 31, 2022 and 2021 and $1 million for the year ended December 31, 2020. During the years ended December 31, 2022, 2021 and 2020, employees purchased 321,429 shares, 326,634 shares and 373,682 shares, respectively, at an average price of $57.72, $56.87 and $47.26 per share, respectively. As of December 31, 2022, 1.6 million shares were available for future issuance under this plan.
Public Service Electric and Gas Company
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Based Compensation	Stock Based Compensation PSEG’s 2021 Long-Term Incentive Plan (2021 LTIP), approved by shareholders on April 20, 2021 and the Amended and Restated 2004 Long-Term Incentive Plan ((LTIP 2004) under which no new grants have been made effective April 20, 2021), are broad-based equity compensation programs that provide for grants of various long-term incentive compensation awards, such as stock options, stock appreciation rights, performance share units (PSUs), restricted stock, restricted stock units (RSUs), cash awards or any combination thereof. The types of long-term incentive awards that have been granted under the LTIP are non-qualified options to purchase shares of PSEG’s common stock, restricted stock unit awards and performance share unit awards. The type of equity award that is granted and the details of that award may vary from time to time and is subject to the approval of the Organization and Compensation Committee of PSEG’s Board of Directors (O&CC), the LTIP’s administrative committee. The 2021 LTIP currently provides for the issuance of equity awards with respect to 8 million shares of common stock. As of December 31, 2022, approximately 7 million shares were available for future awards under the 2021 LTIP. In addition, on April 20, 2021 shareholders approved the PSEG 2021 Equity Compensation Plan for Outside Directors (2021 BOD Plan) and the PSEG 2007 Equity Compensation Plan for Outside Directors (2007 BOD Plan) was closed to new awards. Under the 2021 BOD Plan, the only equity instrument which may be granted are Restricted Stock Units (RSUs) and the Board member must defer the award until they have achieved their stock ownership requirement. Stock Options Under the 2021 LTIP, non-qualified options to acquire shares of PSEG common stock may be granted to officers and other key employees selected by the O&CC. Option awards are granted with an exercise price equal to the market price of PSEG’s common stock at the grant date. The options generally vest over four years of continuous service. Vesting schedules may be accelerated upon the occurrence of certain events, such as a change-in-control (unless substituted with an equity award of equal value), retirement, death or disability. Options are exercisable over a period of time designated by the O&CC (but not prior to one year or longer than ten years from the date of grant) and are subject to such other terms and conditions as the O&CC determines. Payment by option holders upon exercise of an option may be made in cash or, with the consent of the O&CC, by delivering previously acquired shares of PSEG common stock. No options have been granted since 2009. RSUs Under both the 2021 LTIP and 2004 LTIP (LTIPs), PSEG has granted RSU awards to officers and other key employees. These awards, which are bookkeeping entries only, are subject to risk of forfeiture until vested by continued employment. Until distributed, the units are credited with dividend equivalent units (DEUs) proportionate to the dividends paid on PSEG common stock. Distributions are made in shares of common stock. The RSU grants for 2022 and 2021 generally vest at the end of three years. Vesting may be accelerated (pro-rated basis or full vesting) upon certain events such as change-in-control, retirement, disability or death. PSUs Under the LTIPs, PSEG has granted PSUs to officers and other key employees. These provide for distribution in shares of PSEG common stock based on achievement of certain financial goals over a performance period of three years. Following the end of the performance period, the payout varies from 0% to 200% of the number of PSUs granted depending on PSEG’s performance with respect to certain financial targets, including targets related to comparative performance against other companies in a peer group of energy companies. The PSUs are credited with DEUs proportionate to the dividends paid on PSEG common stock. Distributions are made in shares of common stock. Vesting may be accelerated on a pro-rated basis for the period of the employee’s service during the performance period as a result of certain events, such as change-in-control, retirement, death or disability. Stock-Based Compensation PSEG recognizes compensation expense for stock options based on their grant date fair values, which are determined using the Black-Scholes option-pricing model. Stock option awards are expensed on a tranche-specific basis over the requisite service period of the award. Ultimately, compensation expense for stock options is recognized for awards that vest. PSEG recognizes compensation expense for RSUs over the vesting period based on the grant date fair value of the shares, which is equal to the closing market price of PSEG’s common stock on the date of the grant. PSEG recognizes compensation expense for the total shareholder return (TSR) target for its PSU awards based on the grant date fair values of the award, which are determined using the Monte Carlo model. The following table provides the assumptions used to calculate the grant date fair value of the TSR portion of the PSU awards for 2022, 2021 and 2020: Grant Date Risk-Free Interest Rate Volatility February 15, 2022 1.76% 27.34% February 16, 2021 0.22% 27.31% February 18, 2020 1.36% 15.00% The accrual of compensation cost is based on the probable achievement of the performance conditions, which result in a payout from 0% to 200% of the initial grant. PSEG recognizes compensation expense for the return on invested capital target for its PSUs based on the grant date fair value of the awards, which is equal to the market price of PSEG’s common stock on the date of the grant. The accrual during the year of grant is estimated at 100% of the original grant. Such accrual may be adjusted to reflect the actual outcome. 2022 2021 2020 Millions Compensation Cost included in O&M Expense $ 29 $ 28 $ 35 Income Tax Benefit Recognized in Consolidated Statement of Operations $ 8 $ 8 $ 10 For each of the years 2022, 2021 and 2020, PSEG also recorded excess tax benefits of $2 million. PSEG recognizes compensation cost of awards issued over the shorter of the original vesting period or the period beginning on the date of grant and ending on the date an individual is eligible for retirement and the award vests. Stock Options There were no stock options granted or vested in 2022, 2021 and 2020. RSUs Changes in RSUs for the year ended December 31, 2022 are summarized as follows: Shares Weighted Weighted Average Aggregate Non-vested as of January 1, 2022 179,831 $ 57.83 Granted 265,359 $ 64.44 Vested 220,825 $ 62.54 Canceled/Forfeited 8,125 $ 60.85 Non-vested as of December 31, 2022 216,240 $ 61.02 1.2 $ 13,249,024 The weighted average grant date fair value per share for RSUs during the years ended December 31, 2022, 2021 and 2020 was $64.44, $58.02 and $58.85 per share, respectively. The total intrinsic value of RSUs distributed during the years ended December 31, 2022, 2021 and 2020 was $19 million, $17 million and $11 million, respectively. As of December 31, 2022, there was approximately $6 million of unrecognized compensation cost related to the RSUs, which is expected to be recognized over a weighted average period of 1.1 years. DEUs of 26,904 accrued on the RSUs during the year. PSUs Changes in PSUs for the year ended December 31, 2022 are summarized as follows: Shares Weighted Weighted Average Aggregate Non-vested as of January 1, 2022 476,354 $ 59.76 Granted 433,860 $ 68.90 Vested 467,510 $ 61.31 Canceled/Forfeited 45,694 $ 62.08 Non-vested as of December 31, 2022 397,010 $ 67.65 1.7 $ 24,324,782 The weighted average grant date fair value per share for PSUs during the years ended December 31, 2022, 2021 and 2020 was $68.90, $65.57 and $51.79 per share, respectively. The total intrinsic value of PSUs distributed during the years ended December 31, 2022, 2021 and 2020 was $18 million, $28 million and $19 million, respectively. As of December 31, 2022, there was approximately $27 million of unrecognized compensation cost related to the PSUs, which is expected to be recognized over a weighted average period of 1.7 years. DEUs of 41,862 accrued on the PSUs during the year. Outside Directors Under the closed 2007 BOD Plan and the new 2021 BOD Plan, annually, on the first business day of May, each non-employee member of the Board of Directors is awarded stock units based on the amount of annual compensation to be paid at the closing price of PSEG common stock on that date. DEUs are credited quarterly and distributions will occur as specified by their election in accordance with the provisions of the BOD Plan. The fair value of these awards is recorded as compensation expense in the Consolidated Statements of Operations. Compensation expense for the plan was $2 million for the year ended December 31, 2022, and immaterial for each of the years ended December 31, 2021 and 2020. ESPP PSEG maintains an ESPP for all eligible employees of PSEG and its subsidiaries. Under the ESPP, shares of PSEG common stock may be purchased at 95% of the fair market value for represented employees and 90% for non-represented employees through payroll deductions. Dividends are to be paid out in cash unless the participant elects the dividends to be reinvested at fair market price. All employees are required to hold the shares purchased under the ESPP for at least three months from the purchase date. In any year, employees may purchase shares having a value not exceeding 10% of their base pay. Compensation expense recognized under this program was $2 million for each of the years ended December 31, 2022 and 2021 and $1 million for the year ended December 31, 2020. During the years ended December 31, 2022, 2021 and 2020, employees purchased 321,429 shares, 326,634 shares and 373,682 shares, respectively, at an average price of $57.72, $56.87 and $47.26 per share, respectively. As of December 31, 2022, 1.6 million shares were available for future issuance under this plan.

Other Income and Deductions

Other Income and Deductions	12 Months Ended
	Dec. 31, 2022
Component of Other Income [Line Items]
Other Income and Deductions	Other Income (Deductions) PSE&G PSEG Power & Other (A) Consolidated Millions Year Ended December 31, 2022 NDT Fund Interest and Dividends $ — $ 62 $ 62 AFUDC 65 — 65 Solar Loan Interest 10 — 10 Donations — (1) (1) Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (27) (27) Other 13 2 15 Total Other Income (Deductions) $ 88 $ 36 $ 124 Year Ended December 31, 2021 NDT Fund Interest and Dividends $ — $ 59 $ 59 AFUDC 71 — 71 Solar Loan Interest 13 — 13 Donations (1) (21) (22) Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (19) (19) Other 5 (9) (4) Total Other Income (Deductions) $ 88 $ 10 $ 98 Year Ended December 31, 2020 NDT Fund Interest and Dividends $ — $ 52 $ 52 AFUDC 87 — 87 Solar Loan Interest 15 — 15 Donations — (3) (3) Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (36) (36) Other 6 (6) — Total Other Income (Deductions) $ 108 $ 7 $ 115 (A) PSEG Power & Other consists of activity at PSEG Power, Energy Holdings, PSEG LI, Services, PSEG (as parent company) and intercompany eliminations.
Public Service Electric and Gas Company
Component of Other Income [Line Items]
Other Income and Deductions	Other Income (Deductions) PSE&G PSEG Power & Other (A) Consolidated Millions Year Ended December 31, 2022 NDT Fund Interest and Dividends $ — $ 62 $ 62 AFUDC 65 — 65 Solar Loan Interest 10 — 10 Donations — (1) (1) Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (27) (27) Other 13 2 15 Total Other Income (Deductions) $ 88 $ 36 $ 124 Year Ended December 31, 2021 NDT Fund Interest and Dividends $ — $ 59 $ 59 AFUDC 71 — 71 Solar Loan Interest 13 — 13 Donations (1) (21) (22) Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (19) (19) Other 5 (9) (4) Total Other Income (Deductions) $ 88 $ 10 $ 98 Year Ended December 31, 2020 NDT Fund Interest and Dividends $ — $ 52 $ 52 AFUDC 87 — 87 Solar Loan Interest 15 — 15 Donations — (3) (3) Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (36) (36) Other 6 (6) — Total Other Income (Deductions) $ 108 $ 7 $ 115 (A) PSEG Power & Other consists of activity at PSEG Power, Energy Holdings, PSEG LI, Services, PSEG (as parent company) and intercompany eliminations.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 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: Years Ended December 31, PSEG 2022 2021 2020 Millions Net Income (Loss) $ 1,031 $ (648) $ 1,905 Income Taxes: Operating Income: Current (Benefit) Expense: Federal $ 262 $ 407 $ 385 State (30) (3) 48 Total Current 232 404 433 Deferred Expense (Benefit): Federal (335) (700) (164) State 80 (136) 141 Total Deferred (255) (836) (23) ITC (6) (9) (14) Total Income Tax Expense (Benefit) $ (29) $ (441) $ 396 Pre-Tax Income (Loss) $ 1,002 $ (1,089) $ 2,301 Tax Computed at Statutory Rate 21% $ 210 $ (229) $ 483 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) 41 (109) 147 Uncertain Tax Positions (22) 19 3 NDT Fund (22) 23 32 Plant-Related Items (6) (7) (9) Tax Credits (10) 29 (18) Audit Settlement — (8) (27) Leasing Activities — (1) (35) GPRC-CEF-EE (37) (13) — TAC (193) (171) (205) Bad Debt Flow-Through (1) 27 28 Other 11 (1) (3) Subtotal (239) (212) (87) Total Income Tax Expense (Benefit) $ (29) $ (441) $ 396 Effective Income Tax Rate (2.9) % 40.5 % 17.2 % The following is an analysis of deferred income taxes for PSEG: As of December 31, PSEG 2022 2021 Millions Deferred Income Taxes Assets: Noncurrent: Regulatory Liability Excess Deferred Tax $ 390 $ 439 OPEB 74 107 Bad Debt 66 67 Related to Uncertain Tax Positions 1 30 Operating Leases 42 48 Other 378 253 Total Noncurrent Assets $ 951 $ 944 Liabilities: Noncurrent: Plant-Related Items $ 4,663 $ 4,701 New Jersey Corporate Business Tax 1,009 939 Leasing Activities 99 113 AROs and NDT Fund 161 270 Taxes Recoverable Through Future Rates (net) 149 120 Pension Costs 164 169 Operating Leases 37 43 Other 324 271 Total Noncurrent Liabilities $ 6,606 $ 6,626 Summary of Accumulated Deferred Income Taxes: Net Noncurrent Deferred Income Tax Liabilities $ 5,655 $ 5,682 ITC 70 77 Net Total Noncurrent Deferred Income Taxes and ITC $ 5,725 $ 5,759 The deferred tax effect of certain assets and liabilities is presented in the table above net of the deferred tax effect associated with the respective regulatory deferrals. 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: Years Ended December 31, PSE&G 2022 2021 2020 Millions Net Income $ 1,565 $ 1,446 $ 1,327 Income Taxes: Operating Income: Current (Benefit) Expense: Federal $ 130 $ 208 $ 179 State — 1 8 Total Current 130 209 187 Deferred Expense (Benefit): Federal (17) (33) (71) State 159 153 128 Total Deferred 142 120 57 ITC (5) (5) (4) Total Income Tax Expense $ 267 $ 324 $ 240 Pre-Tax Income $ 1,832 $ 1,770 $ 1,567 Tax Computed at Statutory Rate 21% $ 385 $ 372 $ 329 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) 126 122 106 Uncertain Tax Positions 2 2 4 Plant-Related Items (6) (7) (9) Tax Credits (9) (8) (9) Audit Settlement — (1) (2) GPRC-CEF-EE (37) (13) — TAC (193) (171) (205) Bad Debt Flow-Through (1) 27 28 Other — 1 (2) Subtotal (118) (48) (89) Total Income Tax Expense $ 267 $ 324 $ 240 Effective Income Tax Rate 14.6 % 18.3 % 15.3 % The following is an analysis of deferred income taxes for PSE&G: As of December 31, PSE&G 2022 2021 Millions Deferred Income Taxes Assets: Noncurrent: Regulatory Liability Excess Deferred Tax $ 390 $ 439 OPEB 42 61 Related to Uncertain Tax Positions 3 — Bad Debt 66 67 Operating Leases 19 20 Other 53 57 Total Noncurrent Assets $ 573 $ 644 Liabilities: Noncurrent: Plant-Related Items $ 4,174 $ 4,006 New Jersey Corporate Business Tax 1,011 863 Pension Costs 195 180 Taxes Recoverable Through Future Rates (net) 149 120 Conservation Costs 81 75 Operating Leases 18 19 Related to Uncertain Tax Positions — 1 Other 223 178 Total Noncurrent Liabilities $ 5,851 $ 5,442 Summary of Accumulated Deferred Income Taxes: Net Noncurrent Deferred Income Tax Liabilities $ 5,278 $ 4,798 ITC 70 76 Net Total Noncurrent Deferred Income Taxes and ITC $ 5,348 $ 4,874 The deferred tax effect of certain assets and liabilities is presented in the table above net of the deferred tax effect associated with the respective regulatory deferrals. PSEG and PSE&G each provide deferred taxes at the enacted statutory tax rate for all temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities irrespective of the treatment for rate-making purposes. Management believes that it is probable that the accumulated tax benefits that previously have been treated as a flow-through item to PSE&G customers will be recovered from or refunded to PSE&G’s customers in the future. See Note 7. Regulatory Assets and Liabilities. The 2018 decrease in the federal tax rate resulted in PSE&G recording excess deferred income taxes. As of December 31, 2022, the balance was approximately $1.5 billion with a Regulatory Liability of approximately $2.0 billion. In 2022, PSE&G returned approximately $269 million of excess deferred income taxes and previously realized and current period deferred income taxes related to tax repair deductions to its customers with a reduction to tax expense of approximately $193 million. The flowback to customers of the excess deferred income taxes and previously realized tax repair deductions resulted in a decrease of approximately $234 million in the Regulatory Liability. The current period tax repair deduction reduces tax expense and revenue and recognizes a Regulatory Asset as PSE&G believes it is probable that the current period tax repair deductions flowed through to the customers will be recovered from customers in the future. See Note 7. Regulatory Assets and Liabilities for additional information. In March 2020, the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted. Among other provisions, the CARES Act allows a five-year carryback of any net operating loss (NOL) generated in a taxable year beginning after December 31, 2017, and before January 1, 2021. In April 2020, the IRS issued a private letter ruling to PSE&G concluding that certain excess deferred taxes previously classified as protected should be classified as unprotected. Unprotected excess deferred income taxes are not subject to the normalization rules allowing them to be refunded to customers sooner as agreed to with FERC and the BPU. In July 2020, FERC and the BPU approved PSE&G’s requests to refund these unprotected excess deferred income taxes to customers. FERC approved the refund of these unprotected excess deferred income taxes within the 2019 true-up filing. The BPU approved the refund of these unprotected excess deferred income taxes beginning in July 2020 through December 31, 2024. In July 2020, the IRS issued final and proposed regulations addressing the limitation on deductible business interest expense contained in the Tax Act. These regulations retroactively allow depreciation to be added back in computing the 30% adjusted taxable income (ATI) cap, increasing the amount of interest that can be deducted by unregulated businesses in years before 2022. For 2022 and after, the regulations continue to disallow the addback of depreciation in the computation of ATI, effectively lowering the cap on the amount of deductible business interest and contain special rules in allocating interest between regulated and non-regulated businesses. The portion of PSEG’s and PSEG Power’s business interest expense that was disallowed in 2018 and 2019 under the previously issued proposed regulations will now be deductible in those respective years. In March 2021, PSEG amended its 2018 federal income tax return to deduct the previously disallowed business interest expense in accordance with the final and proposed regulations issued in July 2020. The 2018 amended return generated a NOL that was carried back to 2013 as provided by the CARES Act. In December 2022, the carryback claim was approved by the IRS, which resulted in a $28 million income statement benefit and the closure of PSEG’s federal tax years through 2018. In August 2022, the IRA was signed into law. The IRA made certain changes to existing energy tax credit laws and enacted a new 15% corporate alternative minimum tax, effective in 2023. Changes to the energy tax credit laws include: increases to the PTC rate, a new PTC for electricity generation using nuclear energy, expanded technologies that are eligible for energy tax credits, and the transferability of the energy tax credits. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information on the nuclear PTC. Since the enactment of the IRA, the U.S. Treasury issued various Notices that provide interim guidance on several provisions of the IRA. The Notices state that the U.S. Treasury anticipates issuing additional guidance and proposed and final regulations. Until the U.S. Treasury issues additional clarity to many of the provisions, the impact that the IRA will have on PSEG’s and PSE&G’s financial statements is not determinable. The enactment of additional federal or state tax legislation and clarification of previously enacted tax laws could impact PSEG’s and PSE&G’s financial statements. As of December 31, 2022, PSEG had a $60 million state NOL and PSE&G had a $29 million New Jersey Corporate Business Tax NOL that are both expected to be fully realized in the future. PSEG recorded the following amounts related to its unrecognized tax benefits, which were primarily comprised of amounts recorded for PSE&G and PSEG’s other subsidiaries: 2022 PSEG PSE&G Millions Total Amount of Unrecognized Tax Benefits as of January 1, 2022 $ 192 $ 27 Increases as a Result of Positions Taken in a Prior Period 9 2 Decreases as a Result of Positions Taken in a Prior Period (40) (2) Increases as a Result of Positions Taken during the Current Period 1 1 Decreases as a Result of Positions Taken during the Current Period — — Decreases as a Result of Settlements with Taxing Authorities (28) — Decreases due to Lapses of Applicable Statute of Limitations (4) 1 Total Amount of Unrecognized Tax Benefits as of December 31, 2022 $ 130 $ 29 Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits (37) (15) Regulatory Asset—Unrecognized Tax Benefits (8) (8) Total Amount of Unrecognized Tax Benefits that if Recognized, would Impact the Effective Tax Rate (including Interest and Penalties) $ 85 $ 6 2021 PSEG PSE&G Millions Total Amount of Unrecognized Tax Benefits as of January 1, 2021 $ 147 $ 30 Increases as a Result of Positions Taken in a Prior Period 58 8 Decreases as a Result of Positions Taken in a Prior Period (19) (12) Increases as a Result of Positions Taken during the Current Period 6 1 Decreases as a Result of Positions Taken during the Current Period — — Decreases as a Result of Settlements with Taxing Authorities — — Decreases due to Lapses of Applicable Statute of Limitations — — Total Amount of Unrecognized Tax Benefits as of December 31, 2021 $ 192 $ 27 Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits (76) (15) Regulatory Asset—Unrecognized Tax Benefits (7) (7) Total Amount of Unrecognized Tax Benefits that if Recognized, would Impact the Effective Tax Rate (including Interest and Penalties) $ 109 $ 5 2020 PSEG PSE&G Millions Total Amount of Unrecognized Tax Benefits as of January 1, 2020 $ 321 $ 124 Increases as a Result of Positions Taken in a Prior Period 33 21 Decreases as a Result of Positions Taken in a Prior Period (91) (51) Increases as a Result of Positions Taken during the Current Period — — Decreases as a Result of Positions Taken during the Current Period — — Decreases as a Result of Settlements with Taxing Authorities (116) (64) Decreases due to Lapses of Applicable Statute of Limitations — — Total Amount of Unrecognized Tax Benefits as of December 31, 2020 $ 147 $ 30 Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits (69) (12) Regulatory Asset—Unrecognized Tax Benefits (15) (15) Total Amount of Unrecognized Tax Benefits that if Recognized, would Impact the Effective Tax Rate (including Interest and Penalties) $ 63 $ 3 In 2020, the IRS approved PSEG’s nuclear carryback claim and federal tax returns for the years 2011 through 2016. In 2022, the IRS approved PSEG’s 2018 carryback claim, which resulted in the closure of PSEG’s federal tax years through 2018. PSEG and its subsidiaries include accrued interest and penalties related to uncertain tax positions required to be recorded as Income Tax Expense in the Consolidated Statements of Operations. Accumulated interest and penalties that are recorded on the Consolidated Balance Sheets on uncertain tax positions were as follows: Accumulated Interest and Penalties 2022 2021 2020 Millions PSEG $ 38 $ 31 $ 29 PSE&G $ 8 $ 9 $ 9 It is reasonably possible that total unrecognized tax benefits will significantly increase or decrease within the next twelve months due to either agreements with various taxing authorities upon audit, the expiration of the Statute of Limitations, or other pending tax matters. These potential increases or decreases are as follows: Possible Decrease in Total Unrecognized Tax Benefits Over the next Millions PSEG $ 12 PSE&G $ 11 A description of income tax years that remain subject to examination by material jurisdictions, where an examination has not already concluded are: PSEG PSE&G United States Federal 2019-2021 N/A New Jersey 2011-2021 2011-2021 Pennsylvania 2017-2021 2019-2021 Connecticut 2019-2021 N/A Maryland 2019-2021 N/A New York 2017-2021 N/A

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated Other Comprehensive Income (Loss), Net of Tax	12 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	Accumulated Other Comprehensive Income (Loss), Net of Tax PSEG Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) Cash Flow Hedges Pension and OPEB Plans Available-for -Sale Securities Total Millions Balance as of December 31, 2019 $ (15) $ (499) $ 25 $ (489) Current Period Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) before Reclassifications (4) (58) 51 (11) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 10 12 (26) (4) Net Current Period Other Comprehensive Income (Loss) 6 (46) 25 (15) Balance as of December 31, 2020 $ (9) $ (545) $ 50 $ (504) Other Comprehensive Income (Loss) before Reclassifications — 176 (33) 143 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 3 14 (6) 11 Net Current Period Other Comprehensive Income (Loss) 3 190 (39) 154 Balance as of December 31, 2021 $ (6) $ (355) $ 11 $ (350) Other Comprehensive Income (Loss) before Reclassifications — (72) (158) (230) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 3 1 26 30 Net Current Period Other Comprehensive Income (Loss) 3 (71) (132) (200) Balance as of December 31, 2022 $ (3) $ (426) $ (121) $ (550) PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Year Ended December 31, 2020 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 $ (14) $ 4 $ (10) Total Cash Flow Hedges (14) 4 (10) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 24 (7) 17 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (40) 11 (29) Total Pension and OPEB Plans (16) 4 (12) Available-for-Sale Securities Realized Gains (Losses) and Impairments Net Gains (Losses) on Trust Investments 42 (16) 26 Total Available-for-Sale Securities 42 (16) 26 Total $ 12 $ (8) $ 4 PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Year Ended December 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 $ (4) $ 1 $ (3) Total Cash Flow Hedges (4) 1 (3) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 21 (6) 15 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (41) 12 (29) Total Pension and OPEB Plans (20) 6 (14) Available-for-Sale Securities Realized Gains (Losses) Net Gains (Losses) on Trust Investments 9 (3) 6 Total Available-for-Sale Securities 9 (3) 6 Total $ (15) $ 4 $ (11) PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Year Ended December 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 $ (5) $ 2 $ (3) Total Cash Flow Hedges (5) 2 (3) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 21 (6) 15 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (22) 6 (16) Total Pension and OPEB Plans (1) — (1) Available-for-Sale Securities Realized Gains (Losses) Net Gains (Losses) on Trust Investments (43) 17 (26) Total Available-for-Sale Securities (43) 17 (26) Total $ (49) $ 19 $ (30)

Earnings Per Share (EPS) and Di

Earnings Per Share (EPS) and Dividends	12 Months Ended
	Dec. 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. For additional information on PSEG’s stock compensation plans see Note 20. 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: Years Ended December 31, 2022 2021 2020 Basic Diluted Basic Diluted Basic Diluted EPS Numerator: (Millions) Net Income (Loss) $ 1,031 $ 1,031 $ (648) $ (648) $ 1,905 $ 1,905 EPS Denominator: (Millions) Weighted Average Common Shares Outstanding 498 498 504 504 504 504 Effect of Stock Based Compensation Awards — 3 — — — 3 Total Shares 498 501 504 504 504 507 EPS: Net Income (Loss) $ 2.07 $ 2.06 $ (1.29) $ (1.29) $ 3.78 $ 3.76 Approximately 3 million potentially dilutive shares were excluded from total shares used to calculate the diluted loss per share for the year ended December 31, 2021, as their impact was antidilutive. For additional information on all the types of long-term incentive awards, see Note 20. Stock Based Compensation. From time to time, PSEG may repurchase shares to satisfy obligations under equity compensation awards and repurchase shares to satisfy purchases by employees under the ESPP. In December 2022, for such purposes, PSEG entered into a share repurchase plan that complies with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. There were no common share repurchases in the open market during the fourth quarter of 2022. In September 2021, PSEG announced a $500 million share repurchase program, authorized by the Board of Directors. In December 2021, under this authorization PSEG entered into an open market share repurchase plan for $250 million of its common shares. During January and through mid-February 2022, PSEG purchased the full $250 million of common stock under the open market share repurchase plan, representing approximately 3.8 million shares. In March 2022, under this same authorization, PSEG entered into a Master Confirmation and Supplemental Confirmation with an investment banking firm to effect an accelerated share repurchase agreement (ASR Agreement) for the remaining authorized $250 million of shares of PSEG’s outstanding common stock. 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. In mid-May 2022, the investment banking firm exercised its right to accelerate the termination of the contract pursuant to the terms of the ASR Agreement and PSEG received approximately 0.6 million shares, representing the balance of the shares owed to PSEG under the ASR Agreement. Through the open market share repurchase plan and an accelerated share repurchase program, the $500 million share repurchase program authorized in September 2021 was completed, resulting in an aggregate repurchase of approximately 7.4 million shares. Dividends Years Ended December 31, Dividend Payments on Common Stock 2022 2021 2020 Per Share $ 2.16 $ 2.04 $ 1.96 in Millions $ 1,079 $ 1,031 $ 991 On February 14, 2023, PSEG’s Board of Directors approved a $0.57 per share common stock dividend for the first quarter of 2023.

Financial Information By Busine

Financial Information By Business Segments	12 Months Ended
	Dec. 31, 2022
Segment Reporting Information [Line Items]
Financial Information By Business Segments	Financial Information by Business Segment Basis of Organization PSEG’s and PSE&G’s operating segments were determined by management in accordance with GAAP. These segments were determined based on how the Chief Operating Decision Maker (CODM) (the Chief Executive Officer (CEO) for PSEG and PSE&G), measures performance based on segment Net Income and how resources are allocated to each business. Following completion of the sale of the PSEG Power Fossil portfolio in February 2022 and as a result of the transition to a new CEO, our designated CODM, effective September 1, 2022, various changes have been made to the content and manner in which the new CEO reviews financial information for purposes of assessing business performance and allocating resources. Based on management’s analysis, PSE&G and PSEG Power were determined to remain operating segments of PSEG. However, PSEG has revised its reportable segments for the year ended December 31, 2022 to PSE&G and PSEG Power & Other. PSE&G continues to be PSEG’s principal reportable segment. The PSEG Power & Other reportable segment includes amounts related to the PSEG Power operating segment as well as amounts applicable to Energy Holdings, PSEG LI, PSEG (parent corporation) and Services, which do not meet the definition of operating segments individually or in the aggregate and are immaterial to PSEG’s consolidated assets and results. All prior period comparative information has been restated to reflect the change in segment presentation. PSE&G PSE&G earns revenues from its tariffs, under which it provides electric transmission and electric and gas distribution services to residential, commercial and industrial customers in New Jersey. The rates charged for electric transmission are regulated by FERC while the rates charged for electric and gas distribution are regulated by the BPU. Revenues are also earned from several other activities such as investments in EE equipment on customers’ premises, solar investments, the appliance service business and other miscellaneous services. PSEG Power & Other This reportable segment is comprised primarily of PSEG Power which earns revenues primarily by bidding energy, capacity and ancillary services into the markets for these products and by selling energy, capacity and ancillary services on a wholesale basis under contract to power marketers and to load-serving entities. PSEG Power also enters into bilateral contracts for energy, capacity, FTRs, gas, emission allowances and other energy-related contracts to optimize the value of its portfolio of generating assets and its electric and gas supply obligations. In addition, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants receive ZEC revenue from the EDCs in New Jersey including PSE&G. This reportable segment also includes amounts applicable to PSEG LI, which generates revenues under its contract with LIPA, primarily for the recovery of costs when Servco is a principal in the transaction (see Note 5. Variable Interest Entities for additional information) as well as fixed and variable fee components under the contract, and Energy Holdings which holds an immaterial portfolio of remaining lease investments. Other also includes amounts applicable to PSEG (parent corporation) and Services. PSE&G PSEG Power & Other Eliminations (A) Consolidated Millions Year Ended December 31, 2022 Operating Revenues $ 7,935 $ 3,266 $ (1,401) $ 9,800 Depreciation and Amortization 935 165 — 1,100 Operating Income (Loss) 1,892 (511) — 1,381 Income from Equity Method Investments — 14 — 14 Interest Income 19 13 (1) 31 Interest Expense 427 202 (1) 628 Income (Loss) before Income Taxes 1,832 (830) — 1,002 Income Tax Expense (Benefit) 267 (296) — (29) Net Income (Loss) (B) (C) $ 1,565 $ (534) $ — $ 1,031 Gross Additions to Long-Lived Assets $ 2,590 $ 298 $ — $ 2,888 As of December 31, 2022 Total Assets $ 39,960 $ 9,285 $ (527) $ 48,718 Investments in Equity Method Subsidiaries $ — $ 306 $ — $ 306 PSE&G PSEG Power & Other Eliminations (A) Consolidated Millions Year Ended December 31, 2021 Operating Revenues $ 7,122 $ 3,767 $ (1,167) $ 9,722 Depreciation and Amortization 928 288 — 1,216 Operating Income (Loss) 1,818 (2,674) — (856) Income from Equity Method Investments — 16 — 16 Interest Income 14 6 — 20 Interest Expense 402 169 — 571 Income (Loss) before Income Taxes 1,770 (2,859) — (1,089) Income Tax Expense (Benefit) 324 (765) — (441) Net Income (Loss) (B) (C) $ 1,446 $ (2,094) $ — $ (648) Gross Additions to Long-Lived Assets $ 2,447 $ 272 $ — $ 2,719 As of December 31, 2021 Total Assets $ 37,198 $ 12,258 $ (457) $ 48,999 Investments in Equity Method Subsidiaries $ — $ 173 $ — $ 173 PSE&G PSEG Power & Other Eliminations (A) Consolidated Millions Year Ended December 31, 2020 Operating Revenues $ 6,608 $ 4,229 $ (1,234) $ 9,603 Depreciation and Amortization 887 398 — 1,285 Operating Income (Loss) 1,639 631 — 2,270 Income from Equity Method Investments — 14 — 14 Interest Income 17 10 (2) 25 Interest Expense 388 214 (2) 600 Income (Loss) before Income Taxes 1,567 734 — 2,301 Income Tax Expense (Benefit) 240 156 — 396 Net Income (Loss) (B) (C) $ 1,327 $ 578 $ — $ 1,905 Gross Additions to Long-Lived Assets $ 2,507 $ 416 $ — $ 2,923 As of December 31, 2020 Total Assets $ 35,581 $ 14,988 $ (519) $ 50,050 Investments in Equity Method Subsidiaries $ — $ 64 $ — $ 64 (A) 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 26. Related-Party Transactions. (B) Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.
Public Service Electric and Gas Company
Segment Reporting Information [Line Items]
Financial Information By Business Segments	Financial Information by Business Segment Basis of Organization PSEG’s and PSE&G’s operating segments were determined by management in accordance with GAAP. These segments were determined based on how the Chief Operating Decision Maker (CODM) (the Chief Executive Officer (CEO) for PSEG and PSE&G), measures performance based on segment Net Income and how resources are allocated to each business. Following completion of the sale of the PSEG Power Fossil portfolio in February 2022 and as a result of the transition to a new CEO, our designated CODM, effective September 1, 2022, various changes have been made to the content and manner in which the new CEO reviews financial information for purposes of assessing business performance and allocating resources. Based on management’s analysis, PSE&G and PSEG Power were determined to remain operating segments of PSEG. However, PSEG has revised its reportable segments for the year ended December 31, 2022 to PSE&G and PSEG Power & Other. PSE&G continues to be PSEG’s principal reportable segment. The PSEG Power & Other reportable segment includes amounts related to the PSEG Power operating segment as well as amounts applicable to Energy Holdings, PSEG LI, PSEG (parent corporation) and Services, which do not meet the definition of operating segments individually or in the aggregate and are immaterial to PSEG’s consolidated assets and results. All prior period comparative information has been restated to reflect the change in segment presentation. PSE&G PSE&G earns revenues from its tariffs, under which it provides electric transmission and electric and gas distribution services to residential, commercial and industrial customers in New Jersey. The rates charged for electric transmission are regulated by FERC while the rates charged for electric and gas distribution are regulated by the BPU. Revenues are also earned from several other activities such as investments in EE equipment on customers’ premises, solar investments, the appliance service business and other miscellaneous services. PSEG Power & Other This reportable segment is comprised primarily of PSEG Power which earns revenues primarily by bidding energy, capacity and ancillary services into the markets for these products and by selling energy, capacity and ancillary services on a wholesale basis under contract to power marketers and to load-serving entities. PSEG Power also enters into bilateral contracts for energy, capacity, FTRs, gas, emission allowances and other energy-related contracts to optimize the value of its portfolio of generating assets and its electric and gas supply obligations. In addition, PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants receive ZEC revenue from the EDCs in New Jersey including PSE&G. This reportable segment also includes amounts applicable to PSEG LI, which generates revenues under its contract with LIPA, primarily for the recovery of costs when Servco is a principal in the transaction (see Note 5. Variable Interest Entities for additional information) as well as fixed and variable fee components under the contract, and Energy Holdings which holds an immaterial portfolio of remaining lease investments. Other also includes amounts applicable to PSEG (parent corporation) and Services. PSE&G PSEG Power & Other Eliminations (A) Consolidated Millions Year Ended December 31, 2022 Operating Revenues $ 7,935 $ 3,266 $ (1,401) $ 9,800 Depreciation and Amortization 935 165 — 1,100 Operating Income (Loss) 1,892 (511) — 1,381 Income from Equity Method Investments — 14 — 14 Interest Income 19 13 (1) 31 Interest Expense 427 202 (1) 628 Income (Loss) before Income Taxes 1,832 (830) — 1,002 Income Tax Expense (Benefit) 267 (296) — (29) Net Income (Loss) (B) (C) $ 1,565 $ (534) $ — $ 1,031 Gross Additions to Long-Lived Assets $ 2,590 $ 298 $ — $ 2,888 As of December 31, 2022 Total Assets $ 39,960 $ 9,285 $ (527) $ 48,718 Investments in Equity Method Subsidiaries $ — $ 306 $ — $ 306 PSE&G PSEG Power & Other Eliminations (A) Consolidated Millions Year Ended December 31, 2021 Operating Revenues $ 7,122 $ 3,767 $ (1,167) $ 9,722 Depreciation and Amortization 928 288 — 1,216 Operating Income (Loss) 1,818 (2,674) — (856) Income from Equity Method Investments — 16 — 16 Interest Income 14 6 — 20 Interest Expense 402 169 — 571 Income (Loss) before Income Taxes 1,770 (2,859) — (1,089) Income Tax Expense (Benefit) 324 (765) — (441) Net Income (Loss) (B) (C) $ 1,446 $ (2,094) $ — $ (648) Gross Additions to Long-Lived Assets $ 2,447 $ 272 $ — $ 2,719 As of December 31, 2021 Total Assets $ 37,198 $ 12,258 $ (457) $ 48,999 Investments in Equity Method Subsidiaries $ — $ 173 $ — $ 173 PSE&G PSEG Power & Other Eliminations (A) Consolidated Millions Year Ended December 31, 2020 Operating Revenues $ 6,608 $ 4,229 $ (1,234) $ 9,603 Depreciation and Amortization 887 398 — 1,285 Operating Income (Loss) 1,639 631 — 2,270 Income from Equity Method Investments — 14 — 14 Interest Income 17 10 (2) 25 Interest Expense 388 214 (2) 600 Income (Loss) before Income Taxes 1,567 734 — 2,301 Income Tax Expense (Benefit) 240 156 — 396 Net Income (Loss) (B) (C) $ 1,327 $ 578 $ — $ 1,905 Gross Additions to Long-Lived Assets $ 2,507 $ 416 $ — $ 2,923 As of December 31, 2020 Total Assets $ 35,581 $ 14,988 $ (519) $ 50,050 Investments in Equity Method Subsidiaries $ — $ 64 $ — $ 64 (A) 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 26. Related-Party Transactions. (B) Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.

Related-Party Transactions

Related-Party Transactions	12 Months Ended
	Dec. 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: Years Ended December 31, Related Party Transactions 2022 2021 2020 Millions Billings from Affiliates: Net Billings from PSEG Power (A) $ 1,388 $ 1,144 $ 1,207 Administrative Billings from Services (B) 445 394 337 Total Billings from Affiliates $ 1,833 $ 1,538 $ 1,544 Years Ended December 31, Related Party Transactions 2022 2021 Millions Payable to PSEG Power (A) $ 313 $ 244 Payable to Services (B) 98 111 Payable to PSEG (C) 74 63 Accounts Payable—Affiliated Companies $ 485 $ 418 Working Capital Advances to Services (D) $ 33 $ 33 Long-Term Accrued Taxes Payable $ 9 $ 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. As of June 1, 2022, PSEG Power had no contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process. In addition, PSEG Power sells ZECs to PSE&G from its nuclear units under the ZEC program as approved by the BPU. 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 pays all payroll taxes and receives reimbursement from its affiliated companies for their respective portions. In addition, 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
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: Years Ended December 31, Related Party Transactions 2022 2021 2020 Millions Billings from Affiliates: Net Billings from PSEG Power (A) $ 1,388 $ 1,144 $ 1,207 Administrative Billings from Services (B) 445 394 337 Total Billings from Affiliates $ 1,833 $ 1,538 $ 1,544 Years Ended December 31, Related Party Transactions 2022 2021 Millions Payable to PSEG Power (A) $ 313 $ 244 Payable to Services (B) 98 111 Payable to PSEG (C) 74 63 Accounts Payable—Affiliated Companies $ 485 $ 418 Working Capital Advances to Services (D) $ 33 $ 33 Long-Term Accrued Taxes Payable $ 9 $ 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. As of June 1, 2022, PSEG Power had no contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process. In addition, PSEG Power sells ZECs to PSE&G from its nuclear units under the ZEC program as approved by the BPU. 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 pays all payroll taxes and receives reimbursement from its affiliated companies for their respective portions. In addition, 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.

Valuation And Qualifying Accoun

Valuation And Qualifying Accounts	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation And Qualifying Accounts	Schedule II—Valuation and Qualifying Accounts Years Ended December 31, 2022—December 31, 2020 PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED Column A Column B Column C Additions Column D Column E Description Balance at Charged to Charged to Deductions- Balance at Millions 2022 Allowance for Credit Losses $ 337 $ 114 (A) $ — $ 112 (B) $ 339 Materials and Supplies Valuation Reserve 12 1 — 3 (C) 10 2021 Allowance for Credit Losses $ 206 $ 195 (A) $ — $ 64 (B) $ 337 Materials and Supplies Valuation Reserve 10 3 — 1 (C) 12 2020 Allowance for Credit Losses $ 68 (D) $ 175 (A) $ — $ 37 (B) $ 206 Materials and Supplies Valuation Reserve 11 1 — 2 (C) 10 (A) For a discussion of bad debt recoveries, see Item 8. Note 1. Organization, Basis of Presentation and Significant Accounting Policies. (B) Accounts Receivable written off. (C) Reserve reduced to appropriate level as a result of asset dispositions and to remove obsolete inventory. (D) Includes $8 million due to the adoption of ASU 2016-13. PUBLIC SERVICE ELECTRIC AND GAS COMPANY Column A Column B Column C Additions Column D Column E Description Balance at Charged to Charged to Deductions- Balance at Millions 2022 Allowance for Credit Losses $ 337 $ 114 (A) $ — $ 112 (B) $ 339 Materials and Supplies Valuation Reserve 3 1 — — 4 2021 Allowance for Credit Losses $ 206 $ 195 (A) $ — $ 64 (B) $ 337 Materials and Supplies Valuation Reserve 2 2 — 1 (C) 3 2020 Allowance for Credit Losses $ 68 (D) $ 175 (A) $ — $ 37 (B) $ 206 Materials and Supplies Valuation Reserve 2 — — — 2 (A) For a discussion of bad debt recoveries, see Item 8. Note 1. Organization, Basis of Presentation and Significant Accounting Policies. (B) Accounts Receivable written off. (C) Reserve reduced to appropriate level and to remove obsolete inventory. (D) Includes $8 million due to the adoption of ASU 2016-13.

Organization, Basis Of Presen_2

Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies
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 Annual Reports on Form 10-K and in accordance with accounting guidance generally accepted in the United States (GAAP).
Principles Of Consolidation	Principles of Consolidation Each company consolidates those entities in which it has a controlling interest or is the primary beneficiary. See Note 5. Variable Interest Entities. Entities over which the companies exhibit significant influence, but do not have a controlling interest and/or are not the primary beneficiary, are accounted for under the equity method of accounting. For investments in which significant influence does not exist and the investor is not the primary beneficiary, the cost method of accounting is applied. All significant intercompany accounts and transactions are eliminated in consolidation. PSE&G and PSEG Power also have undivided interests in certain jointly-owned facilities, with each responsible for paying its respective ownership share of construction costs, fuel purchases and operating expenses. PSE&G and PSEG Power consolidate their portion of any revenues and expenses related to their respective jointly-owned facilities in the appropriate revenue and expense categories.
Accounting For The Effects Of Regulation	Accounting for the Effects of Regulation In accordance with accounting guidance for rate-regulated entities, PSE&G’s financial statements reflect the economic effects of regulation. PSE&G defers the recognition of costs (a Regulatory Asset) or records the recognition of obligations (a Regulatory Liability) if it is probable that, through the rate-making process, there will be a corresponding increase or decrease in future rates. Accordingly, PSE&G has deferred certain costs and recoveries, which are being amortized over various future
Cash And Cash Equivalents	Cash, Cash Equivalents and Restricted Cash The following provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the years ended December 31, 2021 and 2022. Restricted cash consists primarily of deposits received related to a construction project at PSE&G. PSE&G PSEG Power & 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 December 31, 2022 Cash and Cash Equivalents $ 220 $ 245 $ 465 Restricted Cash in Other Current Assets 27 — 27 Restricted Cash in Other Noncurrent Assets 19 — 19 Cash, Cash Equivalents and Restricted Cash $ 266 $ 245 $ 511 (A) Includes amounts applicable to PSEG Power, Energy Holdings, Services and PSEG (parent company).
Derivative Financial Instruments	Derivative Instruments Each company uses derivative instruments to manage risk pursuant to its business plans and prudent practices. 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, fossil fuels 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. Changes in the fair market value of the derivative contracts are recorded in earnings. Determining whether a contract qualifies as a derivative requires that management exercise significant judgment, including assessing the contract’s market liquidity. PSEG has determined that contracts to purchase and sell certain products do not meet the definition of a derivative under the current authoritative guidance since they do not provide for net settlement, or the markets are not sufficiently liquid to conclude that physical forward contracts are readily convertible to cash. Under current authoritative guidance, all derivatives are recognized on the balance sheet at their fair value, except for derivatives that are designated as normal purchases and normal sales (NPNS). Further, derivatives that qualify for hedge accounting can be designated as fair value or cash flow hedges. For fair value hedges, changes in fair values for both the derivative and the underlying hedged exposure are recognized in earnings each period. Certain offsetting derivative assets and liabilities 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, these positions are offset on the Consolidated Balance Sheets of PSEG. For cash flow hedges, the gain or loss on a derivative instrument designated and qualifying as a cash flow hedge is deferred in Accumulated Other Comprehensive Income (Loss) until earnings are affected by the variability of cash flows of the hedged transaction. For derivative contracts that do not qualify or are not designated as cash flow or fair value hedges or as NPNS, changes in fair value are recorded in current period earnings. PSEG does not currently elect fair value or cash flow hedge accounting on its commodity derivative positions. Contracts that qualify for, and are designated, as NPNS are accounted for upon settlement. Contracts which qualify for NPNS are contracts for which physical delivery is probable, they will not be financially settled, and the quantities under contract are expected to be used or sold in the normal course of business over a reasonable period of time. If a contract no longer meets the requirements for NPNS designation, the changes in fair value since inception, and ongoing changes, of the contract and similar contracts in that portfolio, are recorded in current period earnings. For additional information regarding derivative financial instruments, see Note 18. Financial Risk Management Activities.
Revenue Recognition	Revenue Recognition PSE&G’s regulated electric and gas revenues are recorded primarily based on services rendered to customers. PSE&G records unbilled revenues for the estimated amount customers will be billed for services rendered from the time meters were last read to the end of the respective accounting period. The unbilled revenue is estimated each month based on usage per day, the number of unbilled days in the period, estimated seasonal loads based upon the time of year and the variance of actual degree-days and temperature-humidity-index hours of the unbilled period from expected norms. Regulated revenues from the transmission of electricity are recognized as services are provided based on a FERC-approved annual formula rate mechanism. This mechanism provides for an annual filing of estimated revenue requirement with rates effective January 1 of each year. After completion of the annual period ending December 31, PSE&G files a true-up whereby it compares its actual revenue requirement to the original estimate to determine any over or under collection of revenue. PSE&G records the estimated financial statement impact of the difference between the actual and the filed revenue requirement as a refund or deferral for future recovery when such amounts are probable and can be reasonably estimated in accordance with accounting guidance for rate-regulated entities. The majority of PSEG Power’s revenues relate to bilateral contracts, which are accounted for on the accrual basis as the energy is delivered. PSEG Power’s revenue also includes changes in the value of energy derivative contracts that are not designated as NPNS. See Note 18. Financial Risk Management Activities for further discussion. As of December 31, 2022, PSEG Power owns generation within PJM Interconnection, L.L.C. (PJM), which facilitates the dispatch of energy and energy-related products. Prior to the sale of the fossil generation assets, PSEG Power also had significant sales in the New York Independent System Operator (NYISO) and the New England Independent System Operator (ISO-NE) regions. PSEG generally reports electricity sales and purchases conducted with the Independent System Operators (ISOs) at PSEG Power on a net hourly basis in either Revenues or Energy Costs in its Consolidated Statement of Operations, the classification of which depends on the net hourly activity. Capacity revenue and expense are also reported net based on PSEG Power’s monthly net sale or purchase position in the individual ISOs. PSEG LI is the primary beneficiary of Long Island Electric Utility Servco, LLC (Servco). For transactions in which Servco acts as principal, Servco records revenues and the related pass-through expenditures separately in Operating Revenues and Operation and Maintenance (O&M) Expense, respectively. See Note 5. Variable Interest Entities for further information. For additional information regarding Revenues, see Note 3. Revenues.
Depreciation And Amortization	Depreciation and Amortization (D&A) PSE&G calculates depreciation under the straight-line method based on estimated average remaining lives of the several classes of property. These estimates are reviewed on a periodic basis and necessary adjustments are made as approved by the BPU or FERC. The average depreciation rate stated as a percentage of original cost of depreciable property was as follows: 2022 2021 2020 Avg Rate Avg Rate Avg Rate Electric Transmission 2.18 % 2.29 % 2.41 % Electric Distribution 2.56 % 2.56 % 2.55 % Gas Distribution 1.93 % 1.84 % 1.84 %
Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized During Construction	Allowance for Funds Used During Construction (AFUDC) and Interest Capitalized During Construction (IDC) AFUDC represents the cost of debt and equity funds used to finance the construction of new utility assets at PSE&G. IDC represents the cost of debt used to finance construction at PSEG’s other subsidiaries. The amount of AFUDC or IDC capitalized as Property, Plant and Equipment is included as a reduction of interest charges or other income for the equity portion. The amounts and average rates used to calculate AFUDC or IDC for the years ended December 31, 2022, 2021 and 2020 were as follows: AFUDC/IDC Capitalized 2022 2021 2020 Millions Avg Rate Millions Avg Rate Millions Avg Rate PSE&G $ 84 7.39 % $ 93 7.37 % $ 112 7.86 % Other $ 4 2.24 % $ 9 4.90 % $ 10 4.60 %
Income Taxes	Income Taxes PSEG and its subsidiaries file a consolidated federal income tax return and income taxes are allocated to PSEG’s subsidiaries based on the taxable income or loss of each subsidiary on a separate return basis in accordance with a tax-sharing agreement between PSEG and each of its affiliated subsidiaries. Allocations between PSEG and its subsidiaries are recorded through intercompany accounts. Investment tax credits (ITC) deferred in prior years are being amortized over the useful lives of the related property. Uncertain income tax positions are accounted for using a benefit recognition model with a two-step approach, a more-likely-than-not recognition criterion and a measurement attribute that measures the position as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement. If it is not more-likely-than-not that the benefit will be sustained on its technical merits, no benefit will be recorded. Uncertain tax positions that relate only to timing of when an item is included on a tax return are considered to have met the recognition threshold. See Note 22. Income Taxes for further discussion.
Impairment Of Long-Lived Assets	Impairment of Long-Lived Assets Management evaluates long-lived assets for impairment whenever events or changes in circumstances, such as significant adverse changes in regulation, business climate, counterparty credit worthiness or market conditions, including prolonged periods of adverse commodity and capacity prices or a current expectation that a long-lived asset will be sold or disposed of significantly before the end of its previously estimated useful life, could potentially indicate an asset’s or asset group’s carrying amount may not be recoverable. In such an event, an undiscounted cash flow analysis is performed to determine if an impairment exists. When a long-lived asset’s or asset group’s carrying amount exceeds the associated undiscounted estimated future cash flows, the asset/asset group is considered impaired to the extent that its fair value is less than its carrying amount. An impairment would result in a reduction of the value of the long-lived asset/asset group through a non-cash charge to earnings. For PSEG, cash flows for long-lived assets and asset groups are determined at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The cash flows from the nuclear generation units are evaluated at the portfolio level. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for more information on impairment assessments performed on PSEG’s long-lived assets.
Accounts Receivable-Allowance for Doubtful Accounts	Accounts Receivable—Allowance for Credit Losses PSE&G’s accounts receivable, including unbilled revenues, are 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 coronavirus pandemic on the outstanding balances as of December 31, 2022. PSE&G’s electric bad debt expense is recovered through the Societal Benefits Clause (SBC) mechanism and incremental gas bad debt has been deferred for future recovery through the coronavirus (COVID-19) Regulatory Asset. See Note 3. Revenues and Note 7. Regulatory Assets and Liabilities. Accounts receivable are charged off in the period in which the receivable is deemed uncollectible. Recoveries of accounts receivable are recorded when it is known they will be received.
Materials And Supplies And Fuel	Materials and Supplies and Fuel PSEG and PSE&G’s materials and supplies are carried at average cost and charged to inventory when purchased and expensed or capitalized to Property, Plant and Equipment, as appropriate, when installed or used. Fuel inventory at PSEG is valued at the lower of average cost or market and includes stored natural gas and propane used to generate power and to satisfy obligations under PSEG Power’s gas supply contracts with PSE&G. The costs of fuel, including initial transportation costs, are included in inventory when purchased and charged to Energy Costs when used or sold. The cost of nuclear fuel is capitalized within Property, Plant and Equipment and amortized to fuel expense using the units-of-production method.
Property, Plant And Equipment	Property, Plant and Equipment PSE&G’s additions to and replacements of existing property, plant and equipment are capitalized at cost. The cost of maintenance, repair and replacement of minor items of property is charged to expense as incurred. At the time units of depreciable property are retired or otherwise disposed of, the original cost, adjusted for net salvage value, is charged to accumulated depreciation. PSEG capitalizes costs related to its generating assets, including those related to its jointly-owned facilities that increase the capacity, improve or extend the life of an existing asset; represent a newly acquired or constructed asset; or represent the replacement of a retired asset. The cost of maintenance, repair and replacement of minor items of property is charged to appropriate expense accounts as incurred. Environmental costs are capitalized if the costs mitigate or prevent future environmental contamination or if the costs improve existing assets’ environmental safety or efficiency. All other environmental expenditures are expensed as incurred. PSEG also capitalizes spare parts for its generating assets that meet specific criteria. Capitalized spare parts are depreciated over the remaining lives of their associated assets.
Lessee, Leases	Leases PSEG and its subsidiaries, when acting as lessee or lessor, determine if an arrangement is a lease at inception. PSEG assesses contracts to determine if the arrangement conveys (i) the right to control the use of the identified property, (ii) the right to obtain substantially all of the economic benefits from the use of the property, and (iii) the right to direct the use of the property. PSEG and its subsidiaries are neither the lessee nor the lessor in any material leases that are not classified as operating leases. Lessee —Operating Lease Right-of-Use Assets represent the right to use an underlying asset for the lease term and Operating Lease Liabilities represent the obligation to make lease payments arising from the lease. Operating Lease Right-of-Use Assets and Operating Lease Liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The current portion of Operating Lease Liabilities is included in Other Current Liabilities. Operating Lease Right-of-Use Assets and noncurrent Operating Lease Liabilities are included as separate captions in Noncurrent Assets and Noncurrent Liabilities, respectively, on the Consolidated Balance Sheets of PSEG and PSE&G. PSEG and its subsidiaries do not recognize Operating Lease Right-of-Use Assets and Operating Lease Liabilities for leases where the term is twelve months or less. PSEG and its subsidiaries recognize the lease payments on a straight-line basis over the term of the leases and variable lease payments in the period in which the obligations for those payments are incurred. As lessee, most of the operating leases of PSEG and its subsidiaries do not provide an implicit rate; therefore, incremental borrowing rates are used based on the information available at commencement date in determining the present value of lease payments. The implicit rate is used when readily determinable. PSE&G’s incremental borrowing rates are based on secured borrowing rates. PSEG’s incremental borrowing rates are generally unsecured rates. Having calculated simulated secured rates for each of PSEG and PSEG Power, it was determined that the difference between the unsecured borrowing rates and the simulated secured rates had an immaterial effect on their recorded Operating Lease Right-of-Use Assets and Operating Lease Liabilities. Services, PSEG LI and other subsidiaries of PSEG that do not borrow funds or issue debt may enter into leases. Since these companies do not have credit ratings and related incremental borrowing rates, PSEG has determined that it is appropriate for these companies to use the incremental borrowing rate of PSEG, the parent company. Lease terms may include options to extend or terminate the lease when it is reasonably certain that such options will be exercised. PSEG and its subsidiaries have lease agreements with lease and non-lease components. For real estate, equipment and vehicle leases, the lease and non-lease components are accounted for as a single lease component.
Lessor, Leases	Lessor —Property subject to operating leases, where PSEG or one of its subsidiaries is the lessor, is included in Property, Plant and Equipment and rental income from these leases is included in Operating Revenues. PSEG and its subsidiaries have lease agreements with lease and non-lease components, which are primarily related to domestic energy generation, real estate assets and land. PSEG and subsidiaries account for the lease and non-lease components as a single lease component. See Note 8. Leases for detailed information on leases. Energy Holdings is the lessor in leveraged leases. Leveraged lease accounting guidance is grandfathered for existing leveraged leases. Energy Holdings’ leveraged leases are accounted for in Operating Revenues and in Noncurrent Long-Term Investments. If modified after January 1, 2019, those leveraged leases will be accounted for as operating or financing leases. See Note 9. Long-Term Investments and Note 10. Financing Receivables.
Trust Investments	Trust Investments These securities comprise the Nuclear Decommissioning Trust (NDT) Fund, a master independent external trust account maintained to provide for the costs of decommissioning upon termination of operations of PSEG’s nuclear facilities and amounts that are deposited to fund a Rabbi Trust which was established to meet the obligations related to non-qualified pension plans and deferred compensation plans. Unrealized gains and losses on equity security investments are recorded in Net Income. The debt securities are classified as available-for-sale with the unrealized gains and losses recorded as a component of Accumulated Other Comprehensive Income (Loss). Realized gains and losses on both equity and available-for-sale debt security investments are recorded in earnings and are included with the unrealized gains and losses on equity securities in Net Gains (Losses) on Trust Investments. Other-than-temporary impairments on NDT and Rabbi Trust debt securities are also included in Net Gains (Losses) on Trust Investments. See Note 11. Trust Investments for further discussion.
Pension And Other Postretirement Benefits (OPEB) Plan Assets	Pension and Other Postretirement Benefits (OPEB) Plans The market-related value of plan assets held for the qualified pension and OPEB plans is equal to the fair value of those assets as of year-end. Fair value is determined using quoted market prices and independent pricing services based upon the security type as reported by the trustee at the measurement date (December 31) as well as investments in unlisted real estate which are valued via third-party appraisals. PSEG recognizes a long-term receivable primarily related to future funding by LIPA of Servco’s recognized pension and OPEB liabilities. This receivable is presented separately on the Consolidated Balance Sheet of PSEG as a noncurrent asset. Pursuant to the OSA, Servco records expense for contributions to its pension plan trusts and for OPEB payments made to retirees. See Note 14. Pension and Other Postretirement Benefits (OPEB) and Savings Plans for further discussion.
Basis Adjustment	Basis Adjustment PSE&G has recorded a Basis Adjustment in its Consolidated Balance Sheet related to the generation assets that were transferred from PSE&G to PSEG Power in August 2000 at the price specified by the BPU. Because the transfer was between affiliates, the transaction was recorded at the net book value of the assets and liabilities rather than the transfer price. The difference between the total transfer price and the net book value of the generation-related assets and liabilities, $986 million, net of tax, was recorded as a Basis Adjustment on PSE&G’s and PSEG Power’s Consolidated Balance Sheets. The $986 million is an addition to PSE&G’s Common Stockholder’s Equity and a reduction of PSEG Power’s Member’s Equity. These amounts are eliminated on PSEG’s consolidated financial statements.
Use Of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Public Service Electric and Gas Company
Accounting Policies
Revenue Recognition	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.
Other [Member]
Accounting Policies
Revenue Recognition	Revenues from Contracts with Customers Electricity and Related Products —PSEG Power 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. In addition, wholesale load contracts have been executed in the different ISO regions for the bundled supply of energy, capacity, renewable energy credits (RECs) 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 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 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. In December 2022, PJM called its first ISO-wide Maximum Generation Emergency Action, which triggered a Performance Assessment Interval (PAI) event. During the PAI, PSEG Power’s Salem 2 nuclear plant incurred penalties due to an unplanned outage during the second day of the event. Our remaining nuclear plants earned bonus payments during the entire event. The estimated net impact of Salem 2’s penalties and bonuses earned by the other units was not material to PSEG’s financial results. 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. 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 is primarily the delivery of gas which is satisfied over time. Revenue is recognized as gas is delivered or pipeline capacity is released. PSEG LI Contract —PSEG LI has a contract with LIPA which generates revenues. PSEG LI’s subsidiary, 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. These performance obligations were transferred as part of the sale of Solar Source. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments.

Organization, Basis Of Presen_3

Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The following provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows for the years ended December 31, 2021 and 2022. Restricted cash consists primarily of deposits received related to a construction project at PSE&G. PSE&G PSEG Power & 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 December 31, 2022 Cash and Cash Equivalents $ 220 $ 245 $ 465 Restricted Cash in Other Current Assets 27 — 27 Restricted Cash in Other Noncurrent Assets 19 — 19 Cash, Cash Equivalents and Restricted Cash $ 266 $ 245 $ 511 (A) Includes amounts applicable to PSEG Power, Energy Holdings, Services and PSEG (parent company).
Depreciation Rate Stated Percentage	The average depreciation rate stated as a percentage of original cost of depreciable property was as follows: 2022 2021 2020 Avg Rate Avg Rate Avg Rate Electric Transmission 2.18 % 2.29 % 2.41 % Electric Distribution 2.56 % 2.56 % 2.55 % Gas Distribution 1.93 % 1.84 % 1.84 %
Amounts And Average Rates Used To Calculate IDC Or AFUDC	The amounts and average rates used to calculate AFUDC or IDC for the years ended December 31, 2022, 2021 and 2020 were as follows: AFUDC/IDC Capitalized 2022 2021 2020 Millions Avg Rate Millions Avg Rate Millions Avg Rate PSE&G $ 84 7.39 % $ 93 7.37 % $ 112 7.86 % Other $ 4 2.24 % $ 9 4.90 % $ 10 4.60 %

Revenues Revenues (Tables)

Revenues Revenues (Tables)	12 Months Ended
	Dec. 31, 2022
Revenues [Abstract]
Disaggregation of Revenue [Table Text Block]	Disaggregation of Revenues PSE&G PSEG Power & Other (A) Eliminations Consolidated Millions Year Ended December 31, 2022 Revenues from Contracts with Customers Electric Distribution $ 3,503 $ — $ — $ 3,503 Gas Distribution 2,357 — (1) 2,356 Transmission 1,589 — — 1,589 Electricity and Related Product Sales PJM Third-Party Sales — 2,152 — 2,152 Sales to Affiliates — 151 (151) — NYISO — 88 — 88 ISO-NE — 96 — 96 Gas Sales Third-Party Sales — 458 — 458 Sales to Affiliates — 1,243 (1,243) — Other Revenues from Contracts with Customers (B) 390 605 (6) 989 Total Revenues from Contracts with Customers 7,839 4,793 (1,401) 11,231 Revenues Unrelated to Contracts with Customers (C) 96 (1,527) — (1,431) Total Operating Revenues $ 7,935 $ 3,266 $ (1,401) $ 9,800 PSE&G PSEG Power & Other (A) Eliminations Consolidated Millions Year Ended December 31, 2021 Revenues from Contracts with Customers Electric Distribution $ 3,279 $ — $ — $ 3,279 Gas Distribution 1,875 — (13) 1,862 Transmission 1,611 — — 1,611 Electricity and Related Product Sales PJM Third-Party Sales — 2,003 — 2,003 Sales to Affiliates — 265 (265) — NYISO — 247 — 247 ISO-NE — 172 — 172 Gas Sales Third-Party Sales — 181 — 181 Sales to Affiliates — 886 (886) — Other Revenues from Contracts with Customers (B) 343 620 (3) 960 Total Revenues from Contracts with Customers 7,108 4,374 (1,167) 10,315 Revenues Unrelated to Contracts with Customers (C) 14 (607) — (593) Total Operating Revenues $ 7,122 $ 3,767 $ (1,167) $ 9,722 PSE&G PSEG Power & Other (A) Eliminations Consolidated Millions Year Ended December 31, 2020 Revenues from Contracts with Customers Electric Distribution $ 3,130 $ — $ — $ 3,130 Gas Distribution 1,646 — (12) 1,634 Transmission 1,485 — — 1,485 Electricity and Related Product Sales PJM Third-Party Sales — 1,551 — 1,551 Sales to Affiliates — 447 (447) — NYISO — 124 — 124 ISO-NE — 126 — 126 Gas Sales Third-Party Sales — 83 — 83 Sales to Affiliates — 771 (771) — Other Revenues from Contracts with Customers (B) 338 632 (4) 966 Total Revenues from Contracts with Customers 6,599 3,734 (1,234) 9,099 Revenues Unrelated to Contracts with Customers (C) 9 495 — 504 Total Operating Revenues $ 6,608 $ 4,229 $ (1,234) $ 9,603 (A) Includes revenues applicable to PSEG Power, PSEG LI and Energy Holdings. (B) Includes primarily revenues from appliance repair services and the sale of SRECs at auction at PSE&G. PSEG Power & Other includes PSEG Power’s energy management fee with LIPA and PSEG LI’s OSA with LIPA. PSEG Power & Other also includes PSEG Power’s solar power projects in 2021 and 2020.
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 was 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 Megawatt (MW)-Day MW Cleared June 2022 to May 2023 $97 3,300 June 2023 to May 2024 $49 3,700 Capacity transactions with the PJM Regional Transmission Organization are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position. Bilateral capacity contracts —Capacity obligations pursuant to contract terms through 2028 are anticipated to result in revenues totaling $36 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 2023 is approximately $42 million and is updated each year based on the change in the Consumer Price Index (CPI).
Accounts Receivable, Allowance for Credit Loss	The following provides a reconciliation of PSE&G’s allowance for credit losses for the years ended December 31, 2022 and 2021. Years Ended December 31, 2022 2021 Millions Balance at Beginning of Year $ 337 $ 206 Utility Customer and Other Accounts Provision 114 195 Write-offs, net of Recoveries of $46 million and $17 million for 2022 and 2021, respectively (112) (64) Balance at End of Year $ 339 $ 337

Early Plant Retirements Early_2

Early Plant Retirements Early Plant Retirements (Tables)	12 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Disclosure of Long Lived Assets Held-for-sale	As of December 31, 2021, PSEG Power’s fossil generation assets and liabilities Held for Sale, including anticipated working capital, were $2,060 million and $144 million, respectively, as follows: As of December 31, 2021 Millions Current Assets (A) $ 264 Property, Plant and Equipment 1,742 Noncurrent Assets 54 Total Assets Held for Sale $ 2,060 Current Liabilities (B) $ 57 Noncurrent Liabilities (C) 87 Total Liabilities Held for Sale $ 144 (A) Primarily includes Fuel, Materials and Supplies, Prepayments and Other Current Assets. (B) Primarily includes Accounts Payable and Other Current Liabilities. (C) Primarily includes Asset Retirement Obligations (AROs), Accrued Pension Costs and Other Noncurrent Liabilities.

Property, Plant And Equipment_2

Property, Plant And Equipment And Jointly-Owned Facilities (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule Of Property, Plant And Equipment	Information related to Property, Plant and Equipment as of December 31, 2022 and 2021 is detailed below: 2022 2021 Millions PSE&G Electric Transmission $ 16,393 $ 15,544 Electric Distribution 10,785 10,223 Gas Distribution and Transmission 10,616 9,818 Construction Work in Progress 1,336 1,196 Other 1,915 1,807 Total PSE&G 41,045 38,588 Nuclear Production 3,567 3,656 Nuclear Fuel in Service 758 762 Construction Work in Progress 177 177 Other 377 501 Total $ 45,924 $ 43,684
Schedule Of Jointly-Owned Facilities	As of December 31, 2022 2021 Ownership Accumulated Accumulated Interest Plant Depreciation Plant Depreciation Millions PSE&G: Transmission Facilities Various $ 164 $ 67 $ 165 $ 66 PSEG Power: Nuclear Generating: Peach Bottom 50 % $ 1,444 $ 506 $ 1,452 $ 481 Salem 57 % $ 1,455 $ 516 $ 1,468 $ 449 Nuclear Support Facilities Various $ 228 $ 119 $ 226 $ 107 Other 14 % $ 1 $ — $ 1 $ —

Regulatory Assets And Liabili_2

Regulatory Assets And Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Regulatory Assets and Liabilities Disclosure [Abstract]
Schedule of Regulatory Assets	PSE&G had the following Regulatory Assets and Liabilities: As of December 31, 2022 2021 Millions Regulatory Assets Current New Jersey Clean Energy Program $ 145 $ 146 Electric Energy Costs—Basic Generation Service (BGS) 54 67 Tax Adjustment Credit (TAC) 52 44 Conservation Incentive Program (CIP) 51 36 2018 Distribution Base Rate Case Regulatory Assets (BRC) 47 56 Societal Benefits Clause (SBC) 20 — Other — 15 Total Current Regulatory Assets 369 364 Noncurrent Pension and OPEB Costs $ 1,405 $ 1,043 Deferred Income Tax Regulatory Assets 1,168 1,064 Green Program Recovery Charges (GPRC) 447 211 Manufactured Gas Plant (MGP) Remediation Costs 206 220 Asset Retirement Obligation (ARO) 200 191 Electric Transmission and Gas Cost of Removal 156 174 SBC (Electric Bad Debt) 145 139 COVID-19 Deferral 137 116 Remediation Adjustment Charge (RAC) (Other SBC) 134 156 Deferred Storm Costs 109 109 Clean Energy Future-Energy Cloud (CEF-EC) (Advanced Metering Infrastructure (AMI)) 80 5 CIP 72 12 BRC — 47 Other 145 118 Total Noncurrent Regulatory Assets 4,404 3,605 Total Regulatory Assets $ 4,773 $ 3,969
Schedule of Regulatory Liabilities	As of December 31, 2022 2021 Millions Regulatory Liabilities Current Deferred Income Tax Regulatory Liabilities $ 302 $ 288 Gas Costs—Basic Gas Supply Service (BGSS) 35 5 GPRC 24 19 Formula Rate True-up 1 42 Other 22 34 Total Current Regulatory Liabilities 384 388 Noncurrent Deferred Income Tax Regulatory Liabilities $ 2,196 $ 2,443 Formula Rate True-up 31 9 Other 13 45 Total Noncurrent Regulatory Liabilities 2,240 2,497 Total Regulatory Liabilities $ 2,624 $ 2,885

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lease, Cost	The following amounts relate to total operating lease costs, including both amounts recognized in the Consolidated Statements of Operations during the years ended December 31, 2022, 2021 and 2020 and any amounts capitalized as part of the cost of another asset, and the cash flows arising from lease transactions. PSE&G PSEG Power & Other Total Millions Operating Lease Costs Year Ended December 31, 2022 Long-term Lease Costs $ 31 $ 25 $ 56 Short-term Lease Costs 21 5 26 Variable Lease Costs 2 11 13 Total Operating Lease Costs $ 54 $ 41 $ 95 Year Ended December 31, 2022 Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities $ 17 $ 25 $ 42 Weighted Average Remaining Lease Term in Years 11 7 9 Weighted Average Discount Rate 3.5 % 4.1 % 3.9 % PSE&G PSEG Power & Other Total Millions Operating Lease Costs Year Ended December 31, 2021 Long-term Lease Costs $ 24 $ 26 $ 50 Short-term Lease Costs 36 6 42 Variable Lease Costs 2 18 20 Total Operating Lease Costs $ 62 $ 50 $ 112 Year Ended December 31, 2021 Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities $ 17 $ 26 $ 43 Weighted Average Remaining Lease Term in Years 12 8 9 Weighted Average Discount Rate 3.4 % 4.1 % 3.8 % PSE&G PSEG Power & Other Total Millions Operating Lease Costs Year Ended December 31, 2020 Long-term Lease Costs $ 26 $ 28 $ 54 Short-term Lease Costs 38 7 45 Variable Lease Costs 2 29 31 Total Operating Lease Costs $ 66 $ 64 $ 130 Year Ended December 31, 2020 Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities $ 17 $ 28 $ 45 Weighted Average Remaining Lease Term in Years 12 11 11 Weighted Average Discount Rate 3.5 % 4.3 % 4.0 %
Lessee, Operating Lease, Liability, Maturity	Operating lease liabilities as of December 31, 2022 had the following maturities on an undiscounted basis: PSE&G PSEG Power & Other Total Millions 2023 $ 15 $ 20 $ 35 2024 12 16 28 2025 10 15 25 2026 8 15 23 2027 8 16 24 Thereafter 56 44 100 Total Minimum Lease Payments $ 109 $ 126 $ 235 The following is a reconciliation of the undiscounted cash flows to the discounted Operating Lease Liabilities recognized on the Consolidated Balance Sheets: As of December 31, 2022 PSE&G PSEG Power & Other Total Millions Undiscounted Cash Flows $ 109 $ 126 $ 235 Reconciling Amount due to Discount Rate (20) (18) (38) Total Discounted Operating Lease Liabilities $ 89 $ 108 $ 197 As of December 31, 2021 PSE&G PSEG Power & Other Total Millions Undiscounted Cash Flows $ 117 $ 152 $ 269 Reconciling Amount due to Discount Rate (22) (23) (45) Total Discounted Operating Lease Liabilities $ 95 $ 129 $ 224
Operating Lease, Lease Income	The following is the operating lease income for the years ended December 31, 2022, 2021 and 2020: Operating Lease Income Millions Year Ended December 31, 2022 Fixed Lease Income $ 31 Variable Lease Income — Total Operating Lease Income $ 31 Year Ended December 31, 2021 Fixed Lease Income $ 23 Variable Lease Income 12 Total Operating Lease Income $ 35 Year Ended December 31, 2020 Fixed Lease Income $ 15 Variable Lease Income 26 Total Operating Lease Income $ 41
Lessor, Operating Lease, Payments to be Received, Maturity	Operating leases had the following minimum future fixed lease receipts as of December 31, 2022: Millions 2023 $ 19 2024 19 2025 19 2026 19 2027 14 Thereafter 124 Total Minimum Future Lease Receipts $ 214

Long-Term Investments (Tables)

Long-Term Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Long-Term Investments [Abstract]
Schedule of Long Term Investments	Long-Term Investments as of December 31, 2022 and 2021 included the following: As of December 31, 2022 2021 Millions PSE&G Life Insurance and Supplemental Benefits $ 81 $ 89 Solar Loans 62 92 PSEG Power & Other Lease Investments 175 187 Equity Method Investments (A) 306 173 Total Long-Term Investments $ 624 $ 541
Schedule Of Net Investment In Leveraged Leases	The following table shows Energy Holdings’ gross and net lease investment as of December 31, 2022 and 2021. As of December 31, 2022 2021 Millions Lease Receivables (net of Non-Recourse Debt) $ 249 $ 274 Estimated Residual Value of Leased Assets — — Total Investment in Rental Receivables 249 274 Unearned and Deferred Income (74) (87) Gross Investments in Leases 175 187 Deferred Tax Liabilities (39) (42) Net Investments in Leases $ 136 $ 145
Schedule Of Pre-Tax Income And Income Tax Effects Related To Investments In Leveraged Leases	The pre-tax income and income tax effects related to investments in leases, excluding gains and losses on sales and the impacts of the Tax Act, were as follows: Years Ended December 31, 2022 2021 2020 Millions Pre-Tax Income from Leases $ 13 $ 13 $ 18 Income Tax Expense on Income from Leases $ 3 $ 3 $ 2

Financing Receivables (Tables)

Financing Receivables (Tables)	12 Months Ended
	Dec. 31, 2022
Financing Receivable, Recorded Investment [Line Items]
Schedule Of Credit Risk Profile Based On Payment Activity	As of December 31, Outstanding Loans by Class of Customer 2022 2021 Millions Commercial/Industrial $ 85 $ 116 Residential 4 5 Total 89 121 Current Portion (included in Accounts Receivable) (27) (29) Noncurrent Portion (included in Long-Term Investments) $ 62 $ 92 The solar loans originated under three Solar Loan Programs are comprised as follows: Programs Balance as of December 31, 2022 Funding Provided Residential Loan Term Non-Residential Loan Term Millions Solar Loan I $ 9 prior to 2013 10 years 15 years Solar Loan II 42 prior to 2015 10 years 15 years Solar Loan III 38 largely funded as of December 31, 2022 10 years 10 years Total $ 89 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 December 31, 2022 and have an average remaining life of approximately three years. There are no remaining residential loans outstanding under the Solar Loan I program.
Energy Holdings [Member]
Financing Receivable, Recorded Investment [Line Items]
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’ Credit Rating Standard & Poor’s (S&P) as of December 31, 2022 As of December 31, 2022 Millions AA $ 8 A- 47 BBB+ to BBB 194 Total $ 249

Trust Investments (Tables)

Trust Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Schedule of Securities Reconciliation	The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund. As of December 31, 2022 Cost Gross Gross Fair Millions Equity Securities Domestic $ 476 $ 232 $ (12) $ 696 International 336 68 (28) 376 Total Equity Securities 812 300 (40) 1,072 Available-for-Sale Debt Securities Government 721 — (94) 627 Corporate 597 1 (69) 529 Total Available-for-Sale Debt Securities 1,318 1 (163) 1,156 Total NDT Fund Investments (A) $ 2,130 $ 301 $ (203) $ 2,228 (A) The NDT Fund Investments table excludes cash and foreign currency of $2 million as of December 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 cash and foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund.
Schedule Of Accounts Receivable And Accounts Payable	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 Consolidated Balance Sheets as shown in the following table. As of December 31, 2022 2021 Millions Accounts Receivable $ 14 $ 11 Accounts Payable $ 6 $ 11
Fair Value of Securities, Unrealized Loss Position	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 December 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 $ 90 $ (10) $ 9 $ (2) $ 69 $ (3) $ — $ — International 88 (12) 38 (16) 76 (13) 9 (2) Total Equity Securities 178 (22) 47 (18) 145 (16) 9 (2) Available-for-Sale Debt Securities Government (B) 301 (27) 292 (67) 332 (5) 67 (3) Corporate (C) 221 (21) 249 (48) 306 (4) 30 (2) Total Available-for-Sale Debt Securities 522 (48) 541 (115) 638 (9) 97 (5) NDT Trust Investments $ 700 $ (70) $ 588 $ (133) $ 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 corporate bonds because they are primarily investment grade securities.
Schedule of Realized Gain (Loss)	The proceeds from the sales of and the net gains (losses) on securities in the NDT Fund were: Years Ended December 31, 2022 2021 2020 Millions Proceeds from Sales (A) $ 1,521 $ 1,930 $ 2,031 Net Realized Gains (Losses): Gross Realized Gains $ 86 $ 236 $ 214 Gross Realized Losses (136) (70) (94) Net Realized Gains (Losses) on NDT Fund (B) (50) 166 120 Net Unrealized Gains (Losses) on Equity Securities (205) 19 120 Impairment of Available-for-Sale Debt Securities (C) — — (3) Net Gains (Losses) on NDT Fund Investments $ (255) $ 185 $ 237 (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. (C) PSEG Power recognized an impairment of available-for-sale debt securities in 2020. PSEG Power’s policy is to sell all securities that are rated below investment grade.
Amount Of Available-For-Sale Debt Securities By Maturity Periods	The NDT Fund debt securities held as of December 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ 12 1 - 5 years 319 6 - 10 years 221 11 - 15 years 62 16 - 20 years 96 Over 20 years 446 Total NDT Available-for-Sale Debt Securities $ 1,156
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Schedule of Securities Reconciliation	As of December 31, 2022 Cost Gross Gross Fair Millions Domestic Equity Securities $ 14 $ 6 $ — $ 20 Available-for-Sale Debt Securities Government 110 — (21) 89 Corporate 89 — (15) 74 Total Available-for-Sale Debt Securities 199 — (36) 163 Total Rabbi Trust Investments $ 213 $ 6 $ (36) $ 183 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	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 Consolidated Balance Sheets as shown in the following table. As of December 31, 2022 2021 Millions Accounts Receivable $ 1 $ 1 Accounts Payable $ — $ —
Fair Value of Securities, Unrealized Loss Position	The following table shows the value of securities in the Rabbi Trust Fund that have been in an unrealized loss position for less than and greater than 12 months: As of December 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) $ 32 $ (5) $ 57 $ (16) $ 57 $ — $ 16 $ (1) Corporate (B) 35 (5) 39 (10) 40 (1) 5 — Total Available-for-Sale Debt Securities 67 (10) 96 (26) 97 (1) 21 (1) Rabbi Trust Investments $ 67 $ (10) $ 96 $ (26) $ 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.
Schedule of Realized Gain (Loss)	The proceeds from the sales of and the net gains (losses) on securities in the Rabbi Trust Fund were: Years Ended December 31, 2022 2021 2020 Millions Proceeds from Rabbi Trust Sales $ 65 $ 170 $ 203 Net Realized Gains (Losses): Gross Realized Gains $ 5 $ 16 $ 19 Gross Realized Losses (9) (8) (6) Net Realized Gains (Losses) on Rabbi Trust (A) (4) 8 13 Net Unrealized Gains (Losses) on Equity Securities (6) 1 3 Net Gains (Losses) on Rabbi Trust Investments $ (10) $ 9 $ 16 (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 December 31, 2022 had the following maturities: Time Frame Fair Value Millions Less than one year $ — 1 - 5 years 29 6 - 10 years 23 11 - 15 years 7 16 - 20 years 16 Over 20 years 88 Total Rabbi Trust Available-for-Sale Debt Securities $ 163
Rabbi Trust Fair Value by Company	The fair value of the Rabbi Trust related to PSEG and PSE&G are detailed as follows: As of December 31, As of December 31, 2022 2021 Millions PSE&G $ 32 $ 43 PSEG Power & Other 151 199 Total Rabbi Trust Investments $ 183 $ 242

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill [Line Items]
Schedule of Intangibles	The changes to PSEG’s intangible assets during 2021 and 2022 are as follows: Emissions Allowances RECs Total Intangibles Millions Balance as of January 1, 2021 $ 112 $ 46 $ 158 Retirements (58) (114) (172) Purchases 9 89 98 Sales and Transfers (A) (62) (1) (63) Impairments (1) — (1) Balance as of December 31, 2021 $ — $ 20 $ 20 Retirements — (76) (76) Purchases — 70 70 Balance as of December 31, 2022 $ — $ 14 $ 14 (A) Includes $52 million classified as Assets Held for Sale. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments.

Asset Retirement Obligations _2

Asset Retirement Obligations (AROs) (Tables)	12 Months Ended
	Dec. 31, 2022
Asset Retirement Obligation [Abstract]
Impact Of The Revisions On Asset Retirement Obligation	The changes to the ARO liabilities for PSEG and PSE&G during 2021 and 2022 are presented in the following table: PSEG PSE&G PSEG Power & Other Millions ARO Liability as of January 1, 2021 $ 1,212 $ 314 $ 898 Liabilities Settled (15) (14) (1) Adjustments (B) (37) — (37) Accretion Expense 44 — 44 Accretion Expense Deferred and Recovered in Rate Base (A) 16 16 — Revision to Present Values of Estimated Cash Flows 353 47 306 ARO Liability as of December 31, 2021 $ 1,573 $ 363 $ 1,210 Liabilities Settled $ (15) $ (15) $ — Accretion Expense 50 — 50 Accretion Expense Deferred and Recovered in Rate Base (A) 17 17 — Revision to Present Values of Estimated Cash Flows (126) 19 (145) ARO Liability as of December 31, 2022 $ 1,499 $ 384 $ 1,115 (A) Not reflected as expense in Consolidated Statements of Operations. (B) Represents amounts related to the sale of the solar plants and the fossil generating assets classified as Held for Sale.

Pension, OPEB and Savings Pla_2

Pension, OPEB and Savings Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Defined Benefit Plans Disclosures	The following table provides a roll-forward of the changes in the benefit obligation and the fair value of plan assets during each of the two years in the periods ended December 31, 2022 and 2021. It also provides the funded status of the plans and the amounts recognized and amounts not recognized on the Consolidated Balance Sheets at the end of both years. Pension Benefits Other Benefits 2022 2021 2022 2021 Millions Change in Benefit Obligation Benefit Obligation at Beginning of Year (A) $ 7,240 $ 7,507 $ 1,197 $ 1,306 Service Cost 142 151 6 9 Interest Cost 167 140 26 22 Actuarial (Gain) Loss (B) (1,517) (199) (314) (90) Gross Benefits Paid (382) (359) (61) (50) Other (22) — (3) — Benefit Obligation at End of Year (A) $ 5,628 $ 7,240 $ 851 $ 1,197 Change in Plan Assets Fair Value of Assets at Beginning of Year $ 6,906 $ 6,368 $ 606 $ 564 Actual Return on Plan Assets (1,606) 886 (139) 79 Employer Contributions 11 11 23 13 Gross Benefits Paid (382) (359) (61) (50) Other (18) — — — Fair Value of Assets at End of Year $ 4,911 $ 6,906 $ 429 $ 606 Funded Status Funded Status (Plan Assets less Benefit Obligation) $ (717) $ (334) $ (422) $ (591) Additional Amounts Recognized in the Consolidated Balance Sheets Current Accrued Benefit Cost (C) $ (12) $ (16) $ (12) $ (19) Noncurrent Accrued Benefit Cost (705) (318) (410) (572) Amounts Recognized $ (717) $ (334) $ (422) $ (591) Additional Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Regulated Assets and Deferred Assets (D) Prior Service Credit $ — $ — $ (52) $ (181) Net Actuarial Loss 2,151 1,643 41 193 Total $ 2,151 $ 1,643 $ (11) $ 12 (A) Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits. The vested benefit obligation is the actuarial present value of the vested benefits to which the employee is currently entitled but based on the employee’s expected date of separation or retirement. (B) For pension benefits, the net actuarial gains in 2022 and 2021 were due primarily to an increase in the discount rate. For OPEB, the net actuarial gain in 2022 was due primarily to an increase in the discount rate and other assumption updates. For OPEB, the net actuarial gain in 2021 was due primarily to an increase in the discount rate coupled with lower than expected claims experience. (C) Includes ($5) million and ($7) million for pension benefits and other benefits, respectively, as of December 31, 2021 classified as Held for Sale. For additional information, see Note 4. Early Plant Retirements/Asset Dispositions and Impairments. (D) Includes $594 million ($426 million, after-tax) and $495 million ($355 million, after-tax) in Accumulated Other Comprehensive Loss related to Pension and OPEB as of December 31, 2022 and 2021, respectively. Also includes Regulatory Assets of $1,405 million and Deferred Assets of $141 million as of December 31, 2022 and Regulatory Assets of $1,043 million and Deferred Assets of $117 million as of December 31, 2021. Pension Benefits Other Benefits 2022 2021 2022 2021 Millions Change in Benefit Obligation Benefit Obligation at Beginning of Year (A) $ 596 $ 569 $ 640 $ 699 Service Cost 38 38 21 23 Interest Cost 17 14 19 18 Actuarial (Gain) Loss (B) (189) (18) (215) (89) Gross Benefits Paid (10) (7) (10) (11) Benefit Obligation at End of Year (A) $ 452 $ 596 $ 455 $ 640 Change in Plan Assets Fair Value of Assets at Beginning of Year $ 422 $ 343 $ — $ — Actual Return on Plan Assets (72) 49 — — Employer Contributions 30 37 10 11 Gross Benefits Paid (10) (7) (10) (11) Fair Value of Assets at End of Year $ 370 $ 422 $ — $ — Funded Status Funded Status (Plan Assets less Benefit Obligation) $ (82) $ (174) $ (455) $ (640) Additional Amounts Recognized in the Consolidated Balance Sheets Accrued Pension Costs of Servco $ (82) $ (174) N/A N/A OPEB Costs of Servco N/A N/A (455) (640) Amounts Recognized (C) $ (82) $ (174) $ (455) $ (640) (A) Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits. The vested benefit obligation is the actuarial present value of the vested benefits to which the employee is currently entitled but based on the employee’s expected date of separation or retirement. (B) For pension benefits and OPEB, the net actuarial gains in 2022 were due primarily to an increase in the discount rate. For pension benefits, the net actuarial gain in 2021 was due primarily to an increase in the discount rate. For OPEB, the net actuarial gain in 2021 was due primarily to updated assumptions. (C) Amounts equal to the accrued pension and OPEB costs of Servco are offset in Long-Term Receivable of VIE on PSEG’s Consolidated Balance Sheets.
Components Of Net Periodic Benefit Cost	The following table provides the components of net periodic benefit relating to all qualified and nonqualified pension and OPEB plans on an aggregate basis for PSEG, excluding Servco for the years ended December 31, 2022, 2021 and 2020. 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 Years Ended December 31, Other Benefits Years Ended December 31, 2022 2021 2020 2022 2021 2020 Millions Components of Net Periodic Benefit (Credits) Costs Service Cost (included in O&M Expense) $ 142 $ 151 $ 141 $ 6 $ 9 $ 9 Non-Service Components of Pension and OPEB (Credits) Costs Interest Cost 167 140 192 26 22 34 Expected Return on Plan Assets (484) (476) (443) (42) (42) (39) Amortization of Net Prior Service Credit — — (10) (129) (129) (128) Actuarial Loss 60 103 92 15 44 47 Non-Service Components of Pension and OPEB (Credits) Costs (257) (233) (169) (130) (105) (86) Total Benefit (Credits) Costs $ (115) $ (82) $ (28) $ (124) $ (96) $ (77)
Schedule Of Pension And OPEB Costs	Pension costs and OPEB costs for PSEG and PSE&G are detailed as follows: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Millions PSE&G $ (70) $ (64) $ (27) $ (109) $ (92) $ (76) PSEG Power & Other (45) (18) (1) (15) (4) (1) Total Benefit (Credits) Costs $ (115) $ (82) $ (28) $ (124) $ (96) $ (77)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	The following table provides the pre-tax changes recognized in Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Deferred Assets: Pension Other Benefits 2022 2021 2022 2021 Millions Net Actuarial (Gain) Loss in Current Period $ 568 $ (608) $ (138) $ (127) Amortization of Net Actuarial Gain (Loss) (60) (103) (14) (44) Prior Service Cost (Credit) in Current Period — — — — Amortization of Prior Service Credit — — 129 129 Total $ 508 $ (711) $ (23) $ (42)
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
Schedule of Assumptions Used	The following assumptions were used to determine the benefit obligations and net periodic benefit costs: Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31 Discount Rate 5.20 % 2.94 % 2.61 % 5.16 % 2.82 % 2.46 % Rate of Compensation Increase 4.40 % 4.40 % 4.40 % 4.40 % 4.40 % 4.40 % Cash Balance Interest Crediting Rate 6.00 % 6.00 % 6.00 % N/A N/A N/A Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Years Ended December 31 Discount Rate 2.94 % 2.61 % 3.30 % 2.82 % 2.46 % 3.20 % Service Cost Interest Rate 3.19 % 2.94 % 3.49 % 3.06 % 2.76 % 3.50 % Interest Cost Interest Rate 2.37 % 1.91 % 2.87 % 2.21 % 1.70 % 2.87 % Expected Return on Plan Assets 7.20 % 7.70 % 7.70 % 7.20 % 7.69 % 7.70 % Rate of Compensation Increase 4.40 % 4.40 % 3.90 % 4.40 % 4.40 % 3.90 % Cash Balance Interest Crediting Rate 6.00 % 6.00 % 6.00 % N/A N/A N/A Assumed Health Care Cost Trend Rates as of December 31 Health Care Costs Immediate Rate 6.98 % 6.14 % 6.37 % Ultimate Rate 4.75 % 4.75 % 4.75 % Year Ultimate Rate Reached 2032 2029 2029 Pension Benefits Other Benefits 2022 2021 2020 2022 2021 2020 Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31 Discount Rate 5.30 % 3.21 % 2.98 % 5.34 % 3.28 % 3.08 % Rate of Compensation Increase 3.95 % 3.95 % 3.95 % 3.95 % 3.95 % 3.95 % Cash Balance Interest Crediting Rate 4.30 % 3.75 % 3.75 % N/A N/A N/A Assumed Health Care Cost Trend Rates as of December 31 Health Care Costs Immediate Rate 6.71 % 6.48 % 6.70 % Ultimate Rate 4.75 % 4.75 % 4.75 % Year Ultimate Rate Reached 2032 2029 2029
Schedule of Allocation of Plan Assets	The following tables present information about the investments measured at fair value on a recurring basis as of December 31, 2022 and 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Recurring Fair Value Measurements as of December 31, 2022 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents (A) $ 36 $ 36 $ — Equity Securities Common Stock (B) 1,231 1,231 — Commingled (C) 1,346 — 1,346 Debt Securities (D) U.S. Treasury 1,351 — 1,351 Commingled 4 4 — Subtotal Fair Value $ 3,968 $ 1,271 $ 2,697 Measured at net asset value practical expedient Commingled—Equities (E) 965 Real Estate Investment (F) 395 Private Equity (G) 3 Total Fair Value (H) $ 5,331 Recurring Fair Value Measurements as of December 31, 2021 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents (A) $ 45 $ 45 $ — Equity Securities Common Stock (B) 1,959 1,959 — Commingled (C) 1,948 1,085 863 Preferred Stock (B) 2 2 — Other (I) 2 2 — Debt Securities (D) U.S. Treasury 1,761 — 1,761 Commingled 4 4 — Subtotal Fair Value $ 5,721 $ 3,097 $ 2,624 Measured at net asset value practical expedient Commingled—Equities (E) 1,403 Real Estate Investment (F) 372 Private Equity (G) 3 Total Fair Value (H) $ 7,499 (A) The Collective Investment Fund publishes a daily net asset value (NAV) which participants may use for daily redemptions without restrictions (Level 1). (B) Common stocks and preferred stocks are measured using observable data in active markets and considered Level 1. (C) Commingled Funds that allow daily redemption at their daily published NAV without restrictions are classified as Level 1. Commingled Funds that publish daily NAV but with certain near-term redemption restrictions which prevent redemption at the published daily NAV are classified as Level 2. (D) Debt securities include mainly U.S. Treasury obligations. These investments are valued using an evaluated pricing approach 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 or the most recent quotes for similar securities which are a Level 2 measure. (E) Certain commingled equity funds are not included in the fair value hierarchy as they are measured at fair value using the NAV per share (or its equivalent) practical expedient. These funds do not meet the definition of readily determinable fair value due to the frequency of publishing NAV (monthly). The objectives of these funds are mainly tracking the S&P Index or achieving long-term growth through investment in foreign equity securities and the Morgan Stanley Capital International Index. (F) The unlisted real estate fund invests in office, apartment, industrial and retail space. The fund is valued using the NAV per unit of funds. The investment value of the real estate properties is determined on a quarterly basis by independent market appraisers engaged by the board of directors of the fund. The ability to redeem funds is subject to the availability of cash arising from net investment income, allocations and the sale of investments in the normal course of business. The fund’s NAV is published quarterly. In addition, redemptions require one quarter advance notice prior to redemption and are fulfilled quarterly. The fund, therefore, does not meet the definition of readily determinable fair value. The purpose of the fund is to acquire, own, hold for investment and ultimately dispose of investments in real estate and real estate-related assets with the intention of achieving current income, capital appreciation or both. (G) Private equity investments primarily include various limited partnerships that invest in either operating companies through acquisitions or developing a portfolio of non-U.S. distressed investments to maximize total return on capital. These investments are valued at NAV (or its equivalent) on a quarterly basis and have significant redemption restrictions preventing redemption until fund liquidation and limited ability to sell these investments. Fund liquidation is not expected to occur for several more years. These investments are not included in the fair value hierarchy in accordance with the guidance on NAV practical expedient. (H) Excludes net receivables of $7 million and $11 million as of December 31, 2022 and 2021, respectively, which consist of interest, dividends and receivables and payables related to pending securities sales and purchases. In addition, the table excludes cash and foreign currency of $2 million as of each of December 31, 2022 and 2021. (I) Investment in a publicly traded limited partnership. The following tables present information about Servco’s investments measured at fair value on a recurring basis as of December 31, 2022 and 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Recurring Fair Value Measurements as of December 31, 2022 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents $ 1 $ 1 $ — Equity Securities Common Stock (A) 25 25 — Commingled (B) 251 — 251 Commingled Bonds (B) 93 — 93 Total $ 370 $ 26 $ 344 Recurring Fair Value Measurements as of December 31, 2021 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents $ 1 $ 1 $ — Equity Securities Common Stock (A) 34 34 — Commingled (B) 285 — 285 Commingled Bonds (B) 102 — 102 Total $ 422 $ 35 $ 387 (A) Common stocks are measured using observable data in active markets and considered Level 1.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets	The following tables present information about the investments measured at fair value on a recurring basis as of December 31, 2022 and 2021, including the fair value measurements and the levels of inputs used in determining those fair values. Recurring Fair Value Measurements as of December 31, 2022 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents (A) $ 36 $ 36 $ — Equity Securities Common Stock (B) 1,231 1,231 — Commingled (C) 1,346 — 1,346 Debt Securities (D) U.S. Treasury 1,351 — 1,351 Commingled 4 4 — Subtotal Fair Value $ 3,968 $ 1,271 $ 2,697 Measured at net asset value practical expedient Commingled—Equities (E) 965 Real Estate Investment (F) 395 Private Equity (G) 3 Total Fair Value (H) $ 5,331 Recurring Fair Value Measurements as of December 31, 2021 Quoted Market Prices Significant Other Description Total (Level 1) (Level 2) Millions Cash Equivalents (A) $ 45 $ 45 $ — Equity Securities Common Stock (B) 1,959 1,959 — Commingled (C) 1,948 1,085 863 Preferred Stock (B) 2 2 — Other (I) 2 2 — Debt Securities (D) U.S. Treasury 1,761 — 1,761 Commingled 4 4 — Subtotal Fair Value $ 5,721 $ 3,097 $ 2,624 Measured at net asset value practical expedient Commingled—Equities (E) 1,403 Real Estate Investment (F) 372 Private Equity (G) 3 Total Fair Value (H) $ 7,499 (A) The Collective Investment Fund publishes a daily net asset value (NAV) which participants may use for daily redemptions without restrictions (Level 1). (B) Common stocks and preferred stocks are measured using observable data in active markets and considered Level 1. (C) Commingled Funds that allow daily redemption at their daily published NAV without restrictions are classified as Level 1. Commingled Funds that publish daily NAV but with certain near-term redemption restrictions which prevent redemption at the published daily NAV are classified as Level 2. (D) Debt securities include mainly U.S. Treasury obligations. These investments are valued using an evaluated pricing approach 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 or the most recent quotes for similar securities which are a Level 2 measure. (E) Certain commingled equity funds are not included in the fair value hierarchy as they are measured at fair value using the NAV per share (or its equivalent) practical expedient. These funds do not meet the definition of readily determinable fair value due to the frequency of publishing NAV (monthly). The objectives of these funds are mainly tracking the S&P Index or achieving long-term growth through investment in foreign equity securities and the Morgan Stanley Capital International Index. (F) The unlisted real estate fund invests in office, apartment, industrial and retail space. The fund is valued using the NAV per unit of funds. The investment value of the real estate properties is determined on a quarterly basis by independent market appraisers engaged by the board of directors of the fund. The ability to redeem funds is subject to the availability of cash arising from net investment income, allocations and the sale of investments in the normal course of business. The fund’s NAV is published quarterly. In addition, redemptions require one quarter advance notice prior to redemption and are fulfilled quarterly. The fund, therefore, does not meet the definition of readily determinable fair value. The purpose of the fund is to acquire, own, hold for investment and ultimately dispose of investments in real estate and real estate-related assets with the intention of achieving current income, capital appreciation or both. (G) Private equity investments primarily include various limited partnerships that invest in either operating companies through acquisitions or developing a portfolio of non-U.S. distressed investments to maximize total return on capital. These investments are valued at NAV (or its equivalent) on a quarterly basis and have significant redemption restrictions preventing redemption until fund liquidation and limited ability to sell these investments. Fund liquidation is not expected to occur for several more years. These investments are not included in the fair value hierarchy in accordance with the guidance on NAV practical expedient. (H) Excludes net receivables of $7 million and $11 million as of December 31, 2022 and 2021, respectively, which consist of interest, dividends and receivables and payables related to pending securities sales and purchases. In addition, the table excludes cash and foreign currency of $2 million as of each of December 31, 2022 and 2021. (I) Investment in a publicly traded limited partnership.
Schedule Of Percentage Of Fair Value Of Total Plan Assets	The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans as of the measurement date, December 31: As of December 31, Investments 2022 2021 Equity Securities 67 % 71 % Debt Securities 25 23 Other Investments 8 6 Total Percentage 100 % 100 % The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans of Servco as of the measurement date, December 31: As of December 31, Investments 2022 2021 Equity Securities 75 % 76 % Debt Securities 25 24 Total Percentage 100 % 100 %
Schedule of Expected Benefit Payments	The following pension benefit and postretirement benefit payments are expected to be paid to plan participants. Year Pension Other Benefits Millions 2023 $ 424 $ 77 2024 400 75 2025 405 74 2026 411 72 2027 418 70 2028-2032 2,124 309 Total $ 4,182 $ 677 The following pension benefit and postretirement benefit payments are expected to be paid to Servco’s plan participants: Year Pension Other Benefits Millions 2023 $ 12 $ 10 2024 14 12 2025 17 14 2026 19 15 2027 22 17 2028-2032 149 112 Total $ 233 $ 180
Schedule Of Amount Paid For Employer Matching Contributions	The amounts paid for employer matching contributions to the plans for PSEG and PSE&G are detailed as follows: Thrift Plan and Savings Plan Years Ended December 31, 2022 2021 2020 Millions PSE&G $ 28 $ 28 $ 27 PSEG Power & Other 14 16 16 Total Employer Matching Contributions $ 42 $ 44 $ 43

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Other Commitments [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 December 31, 2022 and 2021. As of December 31, 2022 As of December 31, 2021 Millions Face Value of Outstanding Guarantees $ 1,601 $ 1,959 Exposure under Current Guarantees $ 198 $ 176 Letters of Credit Margin Posted $ 87 $ 80 Letters of Credit Margin Received $ 38 $ 242 Cash Deposited and Received Counterparty Cash Collateral Deposited $ — $ 60 Counterparty Cash Collateral Received $ (1) $ (1) Net Broker Balance Deposited (Received) $ 1,522 $ 785 Additional Amounts Posted Other Letters of Credit $ 156 $ 67
Total Minimum Purchase Commitments	As of December 31, 2022, the total minimum purchase requirements included in these commitments were as follows: Fuel Type PSEG Power’s Share of Commitments through 2027 Millions Nuclear Fuel Uranium $ 390 Enrichment $ 327 Fabrication $ 189 Natural Gas $ 1,310
Public Service Electric and Gas Company
Other Commitments [Line Items]
Contract For Anticipated BGS-Fixed Price Eligible Load	Auction Year 2020 2021 2022 2023 36-Month Terms Ending May 2023 May 2024 May 2025 May 2026 (A) Load (MW) 2,800 2,900 2,800 2,800 $ per MWh $102.16 $64.80 $76.30 $93.11 (A) Prices set in the 2023 BGS auction will become effective on June 1, 2023 when the 2020 BGS auction agreements expire.

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt As of December 31, Maturity 2022 2021 Millions PSEG Senior Notes: 2.65% 2022 $ — $ 700 0.84% 2023 750 750 2.88% 2024 750 750 0.80% 2025 550 550 5.85% 2027 700 — 1.60% 2030 550 550 2.45% 2031 750 750 8.63% (A) 2031 96 96 Total Senior Notes 4,146 4,146 Principal Amount Outstanding 4,146 4,146 Amounts Due Within One Year (750) (700) Net Unamortized Discount and Debt Issuance Costs (22) (22) Total Long-Term Debt of PSEG $ 3,374 $ 3,424 As of December 31, Maturity 2022 2021 Millions PSE&G First and Refunding Mortgage Bonds (B): 8.00% 2037 $ 7 $ 7 5.00% 2037 8 8 Total First and Refunding Mortgage Bonds 15 15 Medium-Term Notes (B): 2.38% 2023 500 500 3.25% 2023 325 325 3.75% 2024 250 250 3.15% 2024 250 250 3.05% 2024 250 250 3.00% 2025 350 350 0.95% 2026 450 450 2.25% 2026 425 425 3.00% 2027 425 425 3.70% 2028 375 375 3.65% 2028 325 325 3.20% 2029 375 375 2.45% 2030 300 300 1.90% 2031 425 425 3.10% 2032 500 — 4.90% 2032 400 — 5.25% 2035 250 250 5.70% 2036 250 250 5.80% 2037 350 350 5.38% 2039 250 250 5.50% 2040 300 300 3.95% 2042 450 450 3.65% 2042 350 350 3.80% 2043 400 400 4.00% 2044 250 250 4.05% 2045 250 250 4.15% 2045 250 250 3.80% 2046 550 550 3.60% 2047 350 350 4.05% 2048 325 325 3.85% 2049 375 375 3.20% 2049 400 400 3.15% 2050 300 300 2.70% 2050 375 375 2.05% 2050 375 375 3.00% 2051 450 450 Total MTNs 12,775 11,875 Principal Amount Outstanding 12,790 11,890 Amounts Due Within One Year (825) — Net Unamortized Discount and Selling Expense (94) (95) Total Long-Term Debt of PSE&G $ 11,871 $ 11,795 As of December 31, Maturity 2022 2021 Millions PSEG Power Term Loan: Variable Rate 2025 $ 1,250 $ — Total Term Loan 1,250 — Total Long-Term Debt of PSEG Power $ 1,250 $ — (A) In December 2020, PSEG issued $96 million principal amount of 8.63% Senior Notes due 2031 to holders of a like principal amount of 8.63% Senior Notes due 2031 originally issued by PSEG Power who validly tendered their notes pursuant to an offer to exchange. Upon consummation of the offer to exchange, the PSEG Power notes accepted in the exchange were cancelled. The transaction resulted in a non-cash financing activity for both PSEG and PSEG Power. (B) Secured by essentially all property of PSE&G pursuant to its First and Refunding Mortgage.
Aggregate Principal Amounts Of Maturities	The aggregate principal amounts of maturities for each of the five years following December 31, 2022 are as follows: Year PSEG PSE&G PSEG Power Total Millions 2023 $ 750 $ 825 $ — $ 1,575 2024 750 750 — 1,500 2025 550 350 1,250 2,150 2026 — 875 — 875 2027 700 425 — 1,125 Thereafter 1,396 9,565 — 10,961 Total $ 4,146 $ 12,790 $ 1,250 $ 18,186
Short-Term Liquidity	The total credit facilities and available liquidity as of December 31, 2022 were as follows: As of December 31, 2022 Company/Facility Total Usage (B) Available Expiration Primary Purpose Millions PSEG Revolving Credit Facility (A) $ 1,500 $ 202 $ 1,298 Mar 2027 Commercial Paper Support/Funding/Letters of Credit Total PSEG $ 1,500 $ 202 $ 1,298 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 $ 63 $ 1,187 Mar 2027 Funding/Letters of Credit Letter of Credit Facility 100 32 $ 68 Apr 2024 Letters of Credit Letter of Credit Facility 200 120 $ 80 Sept 2024 Letters of Credit Letter of Credit Facility 100 26 $ 74 Apr 2025 Letters of Credit Total PSEG Power $ 1,650 $ 241 $ 1,409 Total (C) $ 4,150 $ 461 $ 3,689 (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 December 31, 2022, PSEG had $200 million outstanding at a weighted average interest rate of 4.4%. PSE&G had no Commercial Paper outstanding as of December 31, 2022. (C) Amounts do not include uncommitted credit facilities.
Estimated Fair Values	Fair Value of Debt The estimated fair values, carrying amounts and methods used to determine the fair values of long-term debt as of December 31, 2022 and 2021 are included in the following table and accompanying notes as of December 31, 2022 and 2021. See Note 19. Fair Value Measurements for more information on fair value guidance and the hierarchy that prioritizes the inputs to fair value measurements into three levels. December 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Millions Long-Term Debt: PSEG (A) $ 4,124 $ 3,808 $ 4,124 $ 4,172 PSE&G (A) 12,696 11,106 11,795 13,374 PSEG Power (B) 1,250 1,250 — — Total Long-Term Debt $ 18,070 $ 16,164 $ 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.

Schedule Of Consolidated Capi_2

Schedule Of Consolidated Capital Stock (Tables)	12 Months Ended
	Dec. 31, 2022
Class of Stock Disclosures [Abstract]
Schedule Of Consolidated Capital Stock	As of December 31, Outstanding Shares Book Value 2022 2021 2022 2021 Millions PSEG Common Stock (no par value) (A) Authorized 1,000 shares 497 504 $ 3,688 $ 4,149

Financial Risk Management Act_2

Financial Risk Management Activities (Tables)	12 Months Ended
	Dec. 31, 2022
Disclosure Financial Risk Management Activities [Abstract]
Schedule Of Derivative Instruments Fair Value In Balance Sheets	As of December 31, 2022 PSEG PSEG Power Consolidated Cash Flow Not Designated Balance Sheet Location Interest Energy- Netting ( A ) Total Total Millions Derivative Contracts Current Assets $ 4 $ 1,721 $ (1,707) $ 14 $ 18 Noncurrent Assets — 629 (614) 15 15 Total Mark-to-Market Derivative Assets $ 4 $ 2,350 $ (2,321) $ 29 $ 33 Derivative Contracts Current Liabilities $ — $ (2,447) $ 2,323 $ (124) $ (124) Noncurrent Liabilities (3) (1,139) 1,109 (30) (33) Total Mark-to-Market Derivative (Liabilities) $ (3) $ (3,586) $ 3,432 $ (154) $ (157) Total Net Mark-to-Market Derivative Assets (Liabilities) $ 1 $ (1,236) $ 1,111 $ (125) $ (124) As of December 31, 2021 PSEG Power Consolidated 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
Schedule Of Derivative Instruments Designated As Cash Flow Hedges	The following shows the effect on the Consolidated Statements of Operations and on Accumulated Other Comprehensive Loss (AOCL) of derivative instruments designated as cash flow hedges for the years ended December 31, 2022, 2021 and 2020. Amount of Pre-Tax Location of Amount of Pre-Tax Derivatives in Cash Flow Hedging Relationships Years Ended Years Ended 2022 2021 2020 2022 2021 2020 Millions Millions Interest Rate Swaps $ — $ — $ (6) Interest Expense $ (5) $ (4) $ (14) Total $ — $ — $ (6) $ (5) $ (4) $ (14)
Schedule Of Reconciliation For Derivative Activity Included In Accumulated Other Comprehensive Loss	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 AOCI — — Less: Loss Reclassified into Income 4 3 Balance as of December 31, 2021 $ (9) $ (6) Loss Recognized in AOCI — — Less: Loss Reclassified into Income 5 3 Balance as of December 31, 2022 $ (4) $ (3)
Schedule Of Derivative Instruments Not Designated As Hedging Instruments And Impact On Results Of Operations	The following shows the effect on the Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as NPNS for the years ended December 31, 2022, 2021 and 2020. 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) Years Ended December 31, 2022 2021 2020 Millions Energy-Related Contracts Operating Revenues $ (1,748) $ (993) $ 279 Energy-Related Contracts Energy Costs 2 126 (142) Total $ (1,746) $ (867) $ 137
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 December 31, 2022 and 2021. As of December 31, Type Notional 2022 2021 Millions Natural Gas Dekatherm (Dth) 49 47 Electricity MWh (60) (76) Financial Transmission Rights (FTRs) MWh 24 27 Interest Rate Swaps U.S. Dollars 1,050 —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on 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 December 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 December 31, 2022 Description Total Netting (E) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Millions PSEG Assets: Cash Equivalents (A) $ 385 $ — $ 385 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 29 $ (2,321) $ 42 $ 2,307 $ 1 Interest Rate Swaps (C) $ 4 $ — $ — $ 4 $ — NDT Fund (D) Equity Securities $ 1,072 $ — $ 1,072 $ — $ — Debt Securities—U.S. Treasury $ 288 $ — $ — $ 288 $ — Debt Securities—Govt Other $ 339 $ — $ — $ 339 $ — Debt Securities—Corporate $ 529 $ — $ — $ 529 $ — Rabbi Trust (D) Equity Securities $ 20 $ — $ 20 $ — $ — Debt Securities—U.S. Treasury $ 57 $ — $ — $ 57 $ — Debt Securities—Govt Other $ 32 $ — $ — $ 32 $ — Debt Securities—Corporate $ 74 $ — $ — $ 74 $ — Liabilities: Derivative Contracts: Energy-Related Contracts (B) $ (154) $ 3,432 $ (3) $ (3,537) $ (46) Interest Rate Swaps (C) $ (3) $ — $ — $ (3) $ — PSE&G Assets: Cash Equivalents (A) $ 165 $ — $ 165 $ — $ — Rabbi Trust (D) Equity Securities $ 3 $ — $ 3 $ — $ — Debt Securities—U.S. Treasury $ 10 $ — $ — $ 10 $ — Debt Securities—Govt Other $ 6 $ — $ — $ 6 $ — Debt Securities—Corporate $ 13 $ — $ — $ 13 $ — Recurring Fair Value Measurements as of December 31, 2021 Description Total Netting (E) Quoted Market Prices for Identical Assets Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Millions PSEG Assets: Cash Equivalents (A) $ 615 $ — $ 615 $ — $ — Derivative Contracts: Energy-Related Contracts (B) $ 100 $ (1,262) $ 25 $ 1,336 $ 1 NDT Fund (D) 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 (D) 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 (D) 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) Interest rate swaps are valued using quoted prices on commonly quoted intervals, which are interpolated for periods different than the quoted intervals, as inputs to a market valuation model. Market inputs can generally be verified and model selection does not involve significant management judgement . (D) As of December 31, 2022 and 2021, the fair value measurement table excludes cash and foreign currency of $2 million in the NDT Fund. 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. (E) Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. See Note 18. Financial Risk Management Activities for additional detail.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Valuation Assumptions [Table Text Block]	The following table provides the assumptions used to calculate the grant date fair value of the TSR portion of the PSU awards for 2022, 2021 and 2020: Grant Date Risk-Free Interest Rate Volatility February 15, 2022 1.76% 27.34% February 16, 2021 0.22% 27.31% February 18, 2020 1.36% 15.00%
Stock Compensation expense and tax impacts	2022 2021 2020 Millions Compensation Cost included in O&M Expense $ 29 $ 28 $ 35 Income Tax Benefit Recognized in Consolidated Statement of Operations $ 8 $ 8 $ 10
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	Changes in RSUs for the year ended December 31, 2022 are summarized as follows: Shares Weighted Weighted Average Aggregate Non-vested as of January 1, 2022 179,831 $ 57.83 Granted 265,359 $ 64.44 Vested 220,825 $ 62.54 Canceled/Forfeited 8,125 $ 60.85 Non-vested as of December 31, 2022 216,240 $ 61.02 1.2 $ 13,249,024
Share-based Payment Arrangement, Performance Shares, Outstanding Activity	Changes in PSUs for the year ended December 31, 2022 are summarized as follows: Shares Weighted Weighted Average Aggregate Non-vested as of January 1, 2022 476,354 $ 59.76 Granted 433,860 $ 68.90 Vested 467,510 $ 61.31 Canceled/Forfeited 45,694 $ 62.08 Non-vested as of December 31, 2022 397,010 $ 67.65 1.7 $ 24,324,782

Other Income and Deductions (Ta

Other Income and Deductions (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Deductions Disclosure [Abstract]
Schedule Of Other Income	PSE&G PSEG Power & Other (A) Consolidated Millions Year Ended December 31, 2022 NDT Fund Interest and Dividends $ — $ 62 $ 62 AFUDC 65 — 65 Solar Loan Interest 10 — 10 Donations — (1) (1) Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (27) (27) Other 13 2 15 Total Other Income (Deductions) $ 88 $ 36 $ 124 Year Ended December 31, 2021 NDT Fund Interest and Dividends $ — $ 59 $ 59 AFUDC 71 — 71 Solar Loan Interest 13 — 13 Donations (1) (21) (22) Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (19) (19) Other 5 (9) (4) Total Other Income (Deductions) $ 88 $ 10 $ 98 Year Ended December 31, 2020 NDT Fund Interest and Dividends $ — $ 52 $ 52 AFUDC 87 — 87 Solar Loan Interest 15 — 15 Donations — (3) (3) Purchases of Tax Losses under New Jersey Technology Tax Benefit Transfer Program — (36) (36) Other 6 (6) — Total Other Income (Deductions) $ 108 $ 7 $ 115 (A) PSEG Power & Other consists of activity at PSEG Power, Energy Holdings, PSEG LI, Services, PSEG (as parent company) and intercompany eliminations.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes [Line Items]
Unrecognized Tax Benefits	2022 PSEG PSE&G Millions Total Amount of Unrecognized Tax Benefits as of January 1, 2022 $ 192 $ 27 Increases as a Result of Positions Taken in a Prior Period 9 2 Decreases as a Result of Positions Taken in a Prior Period (40) (2) Increases as a Result of Positions Taken during the Current Period 1 1 Decreases as a Result of Positions Taken during the Current Period — — Decreases as a Result of Settlements with Taxing Authorities (28) — Decreases due to Lapses of Applicable Statute of Limitations (4) 1 Total Amount of Unrecognized Tax Benefits as of December 31, 2022 $ 130 $ 29 Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits (37) (15) Regulatory Asset—Unrecognized Tax Benefits (8) (8) Total Amount of Unrecognized Tax Benefits that if Recognized, would Impact the Effective Tax Rate (including Interest and Penalties) $ 85 $ 6 2021 PSEG PSE&G Millions Total Amount of Unrecognized Tax Benefits as of January 1, 2021 $ 147 $ 30 Increases as a Result of Positions Taken in a Prior Period 58 8 Decreases as a Result of Positions Taken in a Prior Period (19) (12) Increases as a Result of Positions Taken during the Current Period 6 1 Decreases as a Result of Positions Taken during the Current Period — — Decreases as a Result of Settlements with Taxing Authorities — — Decreases due to Lapses of Applicable Statute of Limitations — — Total Amount of Unrecognized Tax Benefits as of December 31, 2021 $ 192 $ 27 Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits (76) (15) Regulatory Asset—Unrecognized Tax Benefits (7) (7) Total Amount of Unrecognized Tax Benefits that if Recognized, would Impact the Effective Tax Rate (including Interest and Penalties) $ 109 $ 5 2020 PSEG PSE&G Millions Total Amount of Unrecognized Tax Benefits as of January 1, 2020 $ 321 $ 124 Increases as a Result of Positions Taken in a Prior Period 33 21 Decreases as a Result of Positions Taken in a Prior Period (91) (51) Increases as a Result of Positions Taken during the Current Period — — Decreases as a Result of Positions Taken during the Current Period — — Decreases as a Result of Settlements with Taxing Authorities (116) (64) Decreases due to Lapses of Applicable Statute of Limitations — — Total Amount of Unrecognized Tax Benefits as of December 31, 2020 $ 147 $ 30 Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits (69) (12) Regulatory Asset—Unrecognized Tax Benefits (15) (15) Total Amount of Unrecognized Tax Benefits that if Recognized, would Impact the Effective Tax Rate (including Interest and Penalties) $ 63 $ 3
Interest And Penalties Related To Uncertain Tax Positions	PSEG and its subsidiaries include accrued interest and penalties related to uncertain tax positions required to be recorded as Income Tax Expense in the Consolidated Statements of Operations. Accumulated interest and penalties that are recorded on the Consolidated Balance Sheets on uncertain tax positions were as follows: Accumulated Interest and Penalties 2022 2021 2020 Millions PSEG $ 38 $ 31 $ 29 PSE&G $ 8 $ 9 $ 9
Possible Decrease In Total Unrecognized Tax Benefits Including Interest	It is reasonably possible that total unrecognized tax benefits will significantly increase or decrease within the next twelve months due to either agreements with various taxing authorities upon audit, the expiration of the Statute of Limitations, or other pending tax matters. These potential increases or decreases are as follows: Possible Decrease in Total Unrecognized Tax Benefits Over the next Millions PSEG $ 12 PSE&G $ 11
Description Of Income Tax Years By Material Jurisdictions	A description of income tax years that remain subject to examination by material jurisdictions, where an examination has not already concluded are: PSEG PSE&G United States Federal 2019-2021 N/A New Jersey 2011-2021 2011-2021 Pennsylvania 2017-2021 2019-2021 Connecticut 2019-2021 N/A Maryland 2019-2021 N/A New York 2017-2021 N/A
PSEG [Member]
Income Taxes [Line Items]
Schedule of Effective Income Tax Rate Reconciliation	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: Years Ended December 31, PSEG 2022 2021 2020 Millions Net Income (Loss) $ 1,031 $ (648) $ 1,905 Income Taxes: Operating Income: Current (Benefit) Expense: Federal $ 262 $ 407 $ 385 State (30) (3) 48 Total Current 232 404 433 Deferred Expense (Benefit): Federal (335) (700) (164) State 80 (136) 141 Total Deferred (255) (836) (23) ITC (6) (9) (14) Total Income Tax Expense (Benefit) $ (29) $ (441) $ 396 Pre-Tax Income (Loss) $ 1,002 $ (1,089) $ 2,301 Tax Computed at Statutory Rate 21% $ 210 $ (229) $ 483 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) 41 (109) 147 Uncertain Tax Positions (22) 19 3 NDT Fund (22) 23 32 Plant-Related Items (6) (7) (9) Tax Credits (10) 29 (18) Audit Settlement — (8) (27) Leasing Activities — (1) (35) GPRC-CEF-EE (37) (13) — TAC (193) (171) (205) Bad Debt Flow-Through (1) 27 28 Other 11 (1) (3) Subtotal (239) (212) (87) Total Income Tax Expense (Benefit) $ (29) $ (441) $ 396 Effective Income Tax Rate (2.9) % 40.5 % 17.2 %
Deferred Income Taxes	The following is an analysis of deferred income taxes for PSEG: As of December 31, PSEG 2022 2021 Millions Deferred Income Taxes Assets: Noncurrent: Regulatory Liability Excess Deferred Tax $ 390 $ 439 OPEB 74 107 Bad Debt 66 67 Related to Uncertain Tax Positions 1 30 Operating Leases 42 48 Other 378 253 Total Noncurrent Assets $ 951 $ 944 Liabilities: Noncurrent: Plant-Related Items $ 4,663 $ 4,701 New Jersey Corporate Business Tax 1,009 939 Leasing Activities 99 113 AROs and NDT Fund 161 270 Taxes Recoverable Through Future Rates (net) 149 120 Pension Costs 164 169 Operating Leases 37 43 Other 324 271 Total Noncurrent Liabilities $ 6,606 $ 6,626 Summary of Accumulated Deferred Income Taxes: Net Noncurrent Deferred Income Tax Liabilities $ 5,655 $ 5,682 ITC 70 77 Net Total Noncurrent Deferred Income Taxes and ITC $ 5,725 $ 5,759
Public Service Electric and Gas Company
Income Taxes [Line Items]
Schedule of Effective Income Tax Rate Reconciliation	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: Years Ended December 31, PSE&G 2022 2021 2020 Millions Net Income $ 1,565 $ 1,446 $ 1,327 Income Taxes: Operating Income: Current (Benefit) Expense: Federal $ 130 $ 208 $ 179 State — 1 8 Total Current 130 209 187 Deferred Expense (Benefit): Federal (17) (33) (71) State 159 153 128 Total Deferred 142 120 57 ITC (5) (5) (4) Total Income Tax Expense $ 267 $ 324 $ 240 Pre-Tax Income $ 1,832 $ 1,770 $ 1,567 Tax Computed at Statutory Rate 21% $ 385 $ 372 $ 329 Increase (Decrease) Attributable to Flow-Through of Certain Tax Adjustments: State Income Taxes (net of federal income tax) 126 122 106 Uncertain Tax Positions 2 2 4 Plant-Related Items (6) (7) (9) Tax Credits (9) (8) (9) Audit Settlement — (1) (2) GPRC-CEF-EE (37) (13) — TAC (193) (171) (205) Bad Debt Flow-Through (1) 27 28 Other — 1 (2) Subtotal (118) (48) (89) Total Income Tax Expense $ 267 $ 324 $ 240 Effective Income Tax Rate 14.6 % 18.3 % 15.3 %
Deferred Income Taxes	he following is an analysis of deferred income taxes for PSE&G: As of December 31, PSE&G 2022 2021 Millions Deferred Income Taxes Assets: Noncurrent: Regulatory Liability Excess Deferred Tax $ 390 $ 439 OPEB 42 61 Related to Uncertain Tax Positions 3 — Bad Debt 66 67 Operating Leases 19 20 Other 53 57 Total Noncurrent Assets $ 573 $ 644 Liabilities: Noncurrent: Plant-Related Items $ 4,174 $ 4,006 New Jersey Corporate Business Tax 1,011 863 Pension Costs 195 180 Taxes Recoverable Through Future Rates (net) 149 120 Conservation Costs 81 75 Operating Leases 18 19 Related to Uncertain Tax Positions — 1 Other 223 178 Total Noncurrent Liabilities $ 5,851 $ 5,442 Summary of Accumulated Deferred Income Taxes: Net Noncurrent Deferred Income Tax Liabilities $ 5,278 $ 4,798 ITC 70 76 Net Total Noncurrent Deferred Income Taxes and ITC $ 5,348 $ 4,874

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated Other Comprehensive Income (Loss), Net of Tax (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	PSEG Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) Cash Flow Hedges Pension and OPEB Plans Available-for -Sale Securities Total Millions Balance as of December 31, 2019 $ (15) $ (499) $ 25 $ (489) Current Period Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) before Reclassifications (4) (58) 51 (11) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 10 12 (26) (4) Net Current Period Other Comprehensive Income (Loss) 6 (46) 25 (15) Balance as of December 31, 2020 $ (9) $ (545) $ 50 $ (504) Other Comprehensive Income (Loss) before Reclassifications — 176 (33) 143 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 3 14 (6) 11 Net Current Period Other Comprehensive Income (Loss) 3 190 (39) 154 Balance as of December 31, 2021 $ (6) $ (355) $ 11 $ (350) Other Comprehensive Income (Loss) before Reclassifications — (72) (158) (230) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) 3 1 26 30 Net Current Period Other Comprehensive Income (Loss) 3 (71) (132) (200) Balance as of December 31, 2022 $ (3) $ (426) $ (121) $ (550)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Year Ended December 31, 2020 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 $ (14) $ 4 $ (10) Total Cash Flow Hedges (14) 4 (10) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 24 (7) 17 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (40) 11 (29) Total Pension and OPEB Plans (16) 4 (12) Available-for-Sale Securities Realized Gains (Losses) and Impairments Net Gains (Losses) on Trust Investments 42 (16) 26 Total Available-for-Sale Securities 42 (16) 26 Total $ 12 $ (8) $ 4 PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Year Ended December 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 $ (4) $ 1 $ (3) Total Cash Flow Hedges (4) 1 (3) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 21 (6) 15 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (41) 12 (29) Total Pension and OPEB Plans (20) 6 (14) Available-for-Sale Securities Realized Gains (Losses) Net Gains (Losses) on Trust Investments 9 (3) 6 Total Available-for-Sale Securities 9 (3) 6 Total $ (15) $ 4 $ (11) PSEG Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Income Statement Year Ended December 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 $ (5) $ 2 $ (3) Total Cash Flow Hedges (5) 2 (3) Pension and OPEB Plans Amortization of Prior Service (Cost) Credit Non-Operating Pension and OPEB Credits (Costs) 21 (6) 15 Amortization of Actuarial Loss Non-Operating Pension and OPEB Credits (Costs) (22) 6 (16) Total Pension and OPEB Plans (1) — (1) Available-for-Sale Securities Realized Gains (Losses) Net Gains (Losses) on Trust Investments (43) 17 (26) Total Available-for-Sale Securities (43) 17 (26) Total $ (49) $ 19 $ (30)

Earnings Per Share (EPS) and _2

Earnings Per Share (EPS) and Dividends (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Basic And Diluted Earnings Per Share Computation	Years Ended December 31, 2022 2021 2020 Basic Diluted Basic Diluted Basic Diluted EPS Numerator: (Millions) Net Income (Loss) $ 1,031 $ 1,031 $ (648) $ (648) $ 1,905 $ 1,905 EPS Denominator: (Millions) Weighted Average Common Shares Outstanding 498 498 504 504 504 504 Effect of Stock Based Compensation Awards — 3 — — — 3 Total Shares 498 501 504 504 504 507 EPS: Net Income (Loss) $ 2.07 $ 2.06 $ (1.29) $ (1.29) $ 3.78 $ 3.76
Dividend Payments On Common Stock	Years Ended December 31, Dividend Payments on Common Stock 2022 2021 2020 Per Share $ 2.16 $ 2.04 $ 1.96 in Millions $ 1,079 $ 1,031 $ 991

Financial Information By Busi_2

Financial Information By Business Segments (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Financial Information By Business Segments	PSE&G PSEG Power & Other Eliminations (A) Consolidated Millions Year Ended December 31, 2022 Operating Revenues $ 7,935 $ 3,266 $ (1,401) $ 9,800 Depreciation and Amortization 935 165 — 1,100 Operating Income (Loss) 1,892 (511) — 1,381 Income from Equity Method Investments — 14 — 14 Interest Income 19 13 (1) 31 Interest Expense 427 202 (1) 628 Income (Loss) before Income Taxes 1,832 (830) — 1,002 Income Tax Expense (Benefit) 267 (296) — (29) Net Income (Loss) (B) (C) $ 1,565 $ (534) $ — $ 1,031 Gross Additions to Long-Lived Assets $ 2,590 $ 298 $ — $ 2,888 As of December 31, 2022 Total Assets $ 39,960 $ 9,285 $ (527) $ 48,718 Investments in Equity Method Subsidiaries $ — $ 306 $ — $ 306 PSE&G PSEG Power & Other Eliminations (A) Consolidated Millions Year Ended December 31, 2021 Operating Revenues $ 7,122 $ 3,767 $ (1,167) $ 9,722 Depreciation and Amortization 928 288 — 1,216 Operating Income (Loss) 1,818 (2,674) — (856) Income from Equity Method Investments — 16 — 16 Interest Income 14 6 — 20 Interest Expense 402 169 — 571 Income (Loss) before Income Taxes 1,770 (2,859) — (1,089) Income Tax Expense (Benefit) 324 (765) — (441) Net Income (Loss) (B) (C) $ 1,446 $ (2,094) $ — $ (648) Gross Additions to Long-Lived Assets $ 2,447 $ 272 $ — $ 2,719 As of December 31, 2021 Total Assets $ 37,198 $ 12,258 $ (457) $ 48,999 Investments in Equity Method Subsidiaries $ — $ 173 $ — $ 173 PSE&G PSEG Power & Other Eliminations (A) Consolidated Millions Year Ended December 31, 2020 Operating Revenues $ 6,608 $ 4,229 $ (1,234) $ 9,603 Depreciation and Amortization 887 398 — 1,285 Operating Income (Loss) 1,639 631 — 2,270 Income from Equity Method Investments — 14 — 14 Interest Income 17 10 (2) 25 Interest Expense 388 214 (2) 600 Income (Loss) before Income Taxes 1,567 734 — 2,301 Income Tax Expense (Benefit) 240 156 — 396 Net Income (Loss) (B) (C) $ 1,327 $ 578 $ — $ 1,905 Gross Additions to Long-Lived Assets $ 2,507 $ 416 $ — $ 2,923 As of December 31, 2020 Total Assets $ 35,581 $ 14,988 $ (519) $ 50,050 Investments in Equity Method Subsidiaries $ — $ 64 $ — $ 64 (A) 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 26. Related-Party Transactions. (B) Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.

Related-Party Transactions (Tab

Related-Party Transactions (Tables) - Public Service Electric and Gas Company	12 Months Ended
	Dec. 31, 2022
Related Party Transaction [Line Items]
Schedule Of Related Party Transactions, Revenue	The financial statements for PSE&G include transactions with related parties presented as follows: Years Ended December 31, Related Party Transactions 2022 2021 2020 Millions Billings from Affiliates: Net Billings from PSEG Power (A) $ 1,388 $ 1,144 $ 1,207 Administrative Billings from Services (B) 445 394 337 Total Billings from Affiliates $ 1,833 $ 1,538 $ 1,544
Schedule Of Related Party Transactions, Payables	Years Ended December 31, Related Party Transactions 2022 2021 Millions Payable to PSEG Power (A) $ 313 $ 244 Payable to Services (B) 98 111 Payable to PSEG (C) 74 63 Accounts Payable—Affiliated Companies $ 485 $ 418 Working Capital Advances to Services (D) $ 33 $ 33 Long-Term Accrued Taxes Payable $ 9 $ 6

Organization, Basis Of Presen_4

Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Public Service Electric and Gas Company
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Basis Adjustment	$ 986	$ 986

Organization, Basis Of Presen_5

Organization, Basis Of Presentation And Summary Of Significant Accounting Policies Organization, Basic of Presentation And Summary Of Significant Accounting Policies (Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash and Cash Equivalents		$ 465	$ 818
Restricted Cash and Investments, Noncurrent		19	17
Restricted Cash and Investments, Current		27	28
Cash, Cash Equivalents and Restricted Cash		511	863	$ 572	$ 176
Public Service Electric and Gas Company
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash and Cash Equivalents		220	294
Restricted Cash and Investments, Noncurrent		19	17
Restricted Cash and Investments, Current		27	28
Cash, Cash Equivalents and Restricted Cash		266	339	$ 233	$ 50
Other [Member]
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash and Cash Equivalents		245	524
Restricted Cash and Investments, Noncurrent		0	0
Restricted Cash and Investments, Current		0	0
Cash, Cash Equivalents and Restricted Cash	[1]	$ 245	$ 524
[1]Includes amounts applicable to PSEG Power, Energy Holdings, Services and PSEG (parent company).

Organization, Basis Of Presen_6

Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Depreciation Rate Stated Percentage) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Nuclear Production [Member] | Minimum
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives	60 years
Nuclear Production [Member] | Maximum [Member]
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives	80 years
Electric Transmission [Member] | Public Service Electric and Gas Company
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Depreciation Rate	2.18%	2.29%	2.41%
Electric Distribution [Member] | Public Service Electric and Gas Company
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Depreciation Rate	2.56%	2.56%	2.55%
Gas Distribution [Member] | Public Service Electric and Gas Company
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Depreciation Rate	1.93%	1.84%	1.84%

Organization, Basis Of Presen_7

Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Amounts And Average Rates Used To Calculate IDC Or AFUDC) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Public Service Electric and Gas Company
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
IDC/AFUDC	$ 84	$ 93	$ 112
Average Rate	7.39%	7.37%	7.86%
Other [Member]
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
IDC/AFUDC	$ 4	$ 9	$ 10
Average Rate	2.24%	4.90%	4.60%

Revenues (Details)

Revenues (Details) $ in Millions		12 Months Ended
		Dec. 31, 2022 USD ($) $ / mwd MW	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Lease losses included in Revenues			$ 9	$ 26
Revenue from Contract with Customer, Including Assessed Tax		$ 11,231	10,315	9,099
Revenues Unrelated to Contracts with Customers	[1]	(1,431)	(593)	504
Operating Revenues		9,800	9,722	9,603
Regulatory Assets		4,404	3,605
Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		(1,401)	(1,167)	(1,234)
Revenues Unrelated to Contracts with Customers	[1]	0	0	0
Operating Revenues	[2]	(1,401)	(1,167)	(1,234)
Public Service Electric and Gas Company
Operating Revenues		7,935	7,122	6,608
Accounts Receivable and Unbilled Revenues, Allowance for Credit Losses		339
Provision for Other Credit Losses		114	195
Accounts Receivable, Allowance for Credit Loss, Writeoff		(112)	(64)
Accounts Receivable, Allowance for Credit Loss, Recovery		46	17
Accounts Receivable, Allowance for Credit Loss		337
Regulatory Assets		4,773	3,969
Regulatory Assets		4,404	3,605
Public Service Electric and Gas Company | Societal Benefits Charges Sbc [Member]
Regulatory Assets		145	139
Public Service Electric and Gas Company | COVID-19 Deferral - Bad Debt portion [Member]
Regulatory Assets		68
Public Service Electric and Gas Company | Electric Bad Debt Deferral | Societal Benefits Charges Sbc [Member]
Regulatory Assets		145
Public Service Electric and Gas Company | Cumulative Effect, Period of Adoption, Adjusted Balance
Accounts Receivable and Unbilled Revenues, Allowance for Credit Losses			337	206
Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		7,839	7,108	6,599
Revenues Unrelated to Contracts with Customers	[1]	96	14	9
Operating Revenues		$ 7,935	$ 7,122	6,608
Allowances percentage of accounts receivable		20%	21%
PSEG Power LLC [Member]
Revenue, remaining performance obligation, amount		$ 36
PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	4,793	$ 4,374	3,734
Revenues Unrelated to Contracts with Customers	[1],[3]	(1,527)	(607)	495
Operating Revenues	[3]	3,266	3,767	4,229
LIPA OSA contract fixed component [Member] | Other [Member]
Revenue, remaining performance obligation, amount		42
Electric Distribution Contracts [Member]
Revenue from Contract with Customer, Including Assessed Tax		3,503	3,279	3,130
Electric Distribution Contracts [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Electric Distribution Contracts [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		3,503	3,279	3,130
Electric Distribution Contracts [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	0	0	0
Gas Distribution Contracts [Member]
Revenue from Contract with Customer, Including Assessed Tax		2,356	1,862	1,634
Gas Distribution Contracts [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		(1)	(13)	(12)
Gas Distribution Contracts [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		2,357	1,875	1,646
Gas Distribution Contracts [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	0	0	0
Transmission [Member]
Revenue from Contract with Customer, Including Assessed Tax		1,589	1,611	1,485
Transmission [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Transmission [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		1,589	1,611	1,485
Transmission [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	0	0	0
Other Contract Revenues [Member]
Revenue from Contract with Customer, Including Assessed Tax	[4]	989	960	966
Other Contract Revenues [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax	[4]	(6)	(3)	(4)
Other Contract Revenues [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax	[4]	390	343	338
Other Contract Revenues [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3],[4]	605	620	632
ISO New England [Member] | Electricity and Related Products [Member]
Revenue from Contract with Customer, Including Assessed Tax		96	172	126
ISO New England [Member] | Electricity and Related Products [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
ISO New England [Member] | Electricity and Related Products [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
ISO New England [Member] | Electricity and Related Products [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	96	172	126
NY ISO [Member] | Electricity and Related Products [Member]
Revenue from Contract with Customer, Including Assessed Tax		88	247	124
NY ISO [Member] | Electricity and Related Products [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
NY ISO [Member] | Electricity and Related Products [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
NY ISO [Member] | Electricity and Related Products [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	88	247	124
Third Party Sales [Member] | Natural Gas [Member]
Revenue from Contract with Customer, Including Assessed Tax		458	181	83
Third Party Sales [Member] | Natural Gas [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Third Party Sales [Member] | Natural Gas [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Third Party Sales [Member] | Natural Gas [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	458	181	83
Third Party Sales [Member] | PJM [Member] | Electricity and Related Products [Member]
Revenue from Contract with Customer, Including Assessed Tax		2,152	2,003	1,551
Third Party Sales [Member] | PJM [Member] | Electricity and Related Products [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Third Party Sales [Member] | PJM [Member] | Electricity and Related Products [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Third Party Sales [Member] | PJM [Member] | Electricity and Related Products [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	2,152	2,003	1,551
Sales to Affiliates [Member] | Natural Gas [Member]
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Sales to Affiliates [Member] | Natural Gas [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		(1,243)	(886)	(771)
Sales to Affiliates [Member] | Natural Gas [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Sales to Affiliates [Member] | Natural Gas [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	1,243	886	771
Sales to Affiliates [Member] | PJM [Member] | Electricity and Related Products [Member]
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Sales to Affiliates [Member] | PJM [Member] | Electricity and Related Products [Member] | Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax		(151)	(265)	(447)
Sales to Affiliates [Member] | PJM [Member] | Electricity and Related Products [Member] | Public Service Electric and Gas Company
Revenue from Contract with Customer, Including Assessed Tax		0	0	0
Sales to Affiliates [Member] | PJM [Member] | Electricity and Related Products [Member] | PSEG Power & Other
Revenue from Contract with Customer, Including Assessed Tax	[3]	$ 151	$ 265	$ 447
June 2022 to May 2023 [Member] | PJM [Member]
Dollars Per Megawatt-Day | $ / mwd		97
Load (MW) | MW		3,300
June 2023 to May 2024 [Member] | PJM [Member] | PSEG Power LLC [Member]
Dollars Per Megawatt-Day | $ / mwd		49
Load (MW) | MW		3,700
[1]Includes primarily alternative revenues at PSE&G principally from the CIP program in 2022 and derivative contracts and lease contracts at PSEG Power & Other. For the years ended December 31, 2021 and 2020, PSEG Power & Other includes losses of $9 million and $26 million, respectively, related to Energy Holdings’ investments in leases. For additional information, see Note 9. Long-Term Investments.[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 26. Related-Party Transactions.[3]Includes revenues applicable to PSEG Power, PSEG LI and Energy Holdings.[4]Includes primarily revenues from appliance repair services and the sale of SRECs at auction at PSE&G. PSEG Power & Other includes PSEG Power’s energy management fee with LIPA and PSEG LI’s OSA with LIPA. PSEG Power & Other also includes PSEG Power’s solar power projects in 2021 and 2020.

Early Plant Retirements Early_3

Early Plant Retirements Early Plant Retirements (Details) - USD ($)		1 Months Ended	3 Months Ended	12 Months Ended
		Oct. 31, 2021	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
ZEC Charge per kwh				$ 0.004
ZEC Charge per MWh				10
Gain (Loss) on Asset Disposition						$ 122,000,000
Liabilities Held for Sale				0	$ 144,000,000
Loss on Extinguishment of Debt				0	(298,000,000)	$ 0
Expected Production Tax Credit per MWh				15
Energy Holdings [Member]
Restructuring Cost and Reserve [Line Items]
Assets Held-for-sale, Not Part of Disposal Group				20,000,000
Impairment of Long-Lived Assets to be Disposed of				78,000,000
Noncurrent Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Liabilities Held for Sale	[1]				87,000,000
Other Production-Solar [Member]
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Asset Disposition					63,000,000
Deferred ITC previously recognized					185,000,000
Disposal group, gain (loss) on sale tax impact					62,000,000
Fossil Production [Member]
Restructuring Cost and Reserve [Line Items]
Assets Held-for-sale, Not Part of Disposal Group					2,060,000,000
Liabilities Held for Sale					144,000,000
Proceeds from Divestiture of Businesses			$ 1,920,000,000
Impairment of Long-Lived Assets to be Disposed of				$ 50,000,000	2,691,000,000
Loss on Extinguishment of Debt		$ 298,000,000
Severance Costs					13,000,000
Fossil Production [Member] | Current Assets [Member]
Restructuring Cost and Reserve [Line Items]
Assets Held-for-sale, Not Part of Disposal Group	[2]				264,000,000
Fossil Production [Member] | Property, Plant and Equipment
Restructuring Cost and Reserve [Line Items]
Assets Held-for-sale, Not Part of Disposal Group					1,742,000,000
Fossil Production [Member] | Noncurrent Assets [Member]
Restructuring Cost and Reserve [Line Items]
Assets Held-for-sale, Not Part of Disposal Group					54,000,000
Fossil Production [Member] | Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Liabilities Held for Sale	[3]				$ 57,000,000
[1]Primarily includes Asset Retirement Obligations (AROs), Accrued Pension Costs and Other Noncurrent Liabilities[2]Primarily includes Fuel, Materials and Supplies, Prepayments and Other Current Assets.[3]Primarily includes Accounts Payable and Other Current Liabilities.

Variable Interest Entities (V_2

Variable Interest Entities (VIEs) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Operating Revenues	$ 9,800	$ 9,722	$ 9,603
Operation and Maintenance	3,178	3,226	3,115
Long Island ServCo [Member]
Variable Interest Entity [Line Items]
Operating Revenues	516	511	520
Operation and Maintenance	516	511	$ 520
Ocean Wind JV Holdco
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	225	111
Ocean Wind JV Holdco | Carrying Value
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	$ 225	$ 111

Property, Plant And Equipment_3

Property, Plant And Equipment And Jointly-Owned Facilities (Schedule Of Property, Plant And Equipment) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Public Utility, Property, Plant and Equipment [Line Items]
Other	$ 377	$ 501
Total	45,924	43,684
Public Service Electric and Gas Company
Public Utility, Property, Plant and Equipment [Line Items]
Other	1,915	1,807
Total	41,045	38,588
Electric Transmission [Member] | Public Service Electric and Gas Company
Public Utility, Property, Plant and Equipment [Line Items]
Total Transmission and Distribution	16,393	15,544
Electric Distribution [Member] | Public Service Electric and Gas Company
Public Utility, Property, Plant and Equipment [Line Items]
Total Transmission and Distribution	10,785	10,223
Gas Distribution [Member] | Public Service Electric and Gas Company
Public Utility, Property, Plant and Equipment [Line Items]
Total Transmission and Distribution	10,616	9,818
Construction Work In Progress [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Total Generation	177	177
Construction Work In Progress [Member] | Public Service Electric and Gas Company
Public Utility, Property, Plant and Equipment [Line Items]
Total Transmission and Distribution	1,336	1,196
Nuclear Production [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Total Generation	3,567	3,656
Nuclear Fuel [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Total Generation	$ 758	$ 762

Property, Plant And Equipment_4

Property, Plant And Equipment And Jointly-Owned Facilities (Schedule Of Jointly-Owned Facilities) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Peach Bottom [Member] | PSEG Power LLC [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Ownership Interest	50%	50%
Plant	$ 1,444	$ 1,452
Accumulated Depreciation	$ 506	$ 481
Salem [Member] | PSEG Power LLC [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Ownership Interest	57%	57%
Plant	$ 1,455	$ 1,468
Accumulated Depreciation	516	449
Nuclear Support Facilities [Member] | PSEG Power LLC [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Plant	228	226
Accumulated Depreciation	$ 119	$ 107
Merrill Creek Reservoir [Member] | PSEG Power LLC [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Ownership Interest	14%	14%
Plant	$ 1	$ 1
Accumulated Depreciation	0	0
Transmission Facilities [Member] | Public Service Electric and Gas Company
Public Utility, Property, Plant and Equipment [Line Items]
Plant	164	165
Accumulated Depreciation	$ 67	$ 66

Regulatory Assets And Liabili_3

Regulatory Assets And Liabilities (Schedule Of Regulatory Assets and Liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2018
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Current	$ 369	$ 364
Regulatory Assets, Noncurrent	4,404	3,605
Regulatory Liability, Current	384	388
Regulatory Liabilities, Noncurrent	2,240	2,497
Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Current	369	364
Regulatory Assets, Noncurrent	4,404	3,605
Total Regulatory Assets	4,773	3,969
Regulatory Liability, Current	384	388
Regulatory Liabilities, Noncurrent	2,240	2,497
Total Regulatory Liabilities	2,624	2,885
Flowback of tax benefits	35	22	$ 31
Public Service Electric and Gas Company | Electric meters to be retired
Regulatory Assets And Liabilities [Line Items]
Total Transmission and Distribution	168	192
Excess Deferred Income Taxes [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Liability, Current	302	288
Regulatory Liabilities, Noncurrent	2,196	2,443
Other [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Liability, Current	22	34
Regulatory Liabilities, Noncurrent	13	45
Gas Costs - BGSS | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Liability, Current	35	5
Green Program Recovery Charge [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Liability, Current	24	19
Formula Rate True up | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Liability, Current	1	42
Regulatory Liabilities, Noncurrent	31	9
Tax Adjustment Credit [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Current	52	44
Total Regulatory Assets				$ 581
Total Regulatory Liabilities				$ 581
New Jersey Clean Energy Program [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Current	145	146
Green Program Recovery Charge [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	447	211
Pension and Other Postretirement Benefit Costs [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	1,405	1,043
Deferred Income Taxes [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	1,168	1,064
Manufactured Gas Plant (MGP) Remediation Costs [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	206	220
Base Rate Case [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Current	47	56
Regulatory Assets, Noncurrent	0	47
Remediation Adjustment Charge (Other SBC) [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	134	156
Conditional Asset Retirement Obligation [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	200	191
Electric and Gas Cost Of Removal [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	156	174
Other [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Current	0	15
Regulatory Assets, Noncurrent	145	118
Underrecovered Electric Costs Basic Generation Service [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Current	54	67
Societal Benefits Charges Sbc [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Current	20	0
Regulatory Assets, Noncurrent	145	139
Deferred Storm Costs | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	109	109
COVID-19 Deferral | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	137	116
Conservation Incentive Program | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Current	51	36
Regulatory Assets, Noncurrent	72	12
Clean Energy Future - Energy Cloud [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Regulatory Assets, Noncurrent	80	$ 5
Transmission related over remaining useful life [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Excess Deferred income taxes to be refunded	933
unprotected distribution related over remaining useful life [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Excess Deferred income taxes to be refunded	203
protected distribution related over remaining useful life [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Excess Deferred income taxes to be refunded	882
distributed related repair deductions [Member] | Public Service Electric and Gas Company
Regulatory Assets And Liabilities [Line Items]
Excess Deferred income taxes to be refunded	$ 425

Regulatory Assets And Liabili_4

Regulatory Assets And Liabilities (Significant Orders and Pending Filings) (Details)

1 Months Ended

12 Months Ended

Feb. 28, 2023 USD ($)

Jan. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Nov. 30, 2022 USD ($)

Oct. 31, 2022 USD ($)

Sep. 30, 2022 USD ($)

Jul. 31, 2022 USD ($)

Jun. 30, 2022 USD ($)

May 31, 2022 USD ($)

Apr. 30, 2022 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Sep. 30, 2018 USD ($)

Regulatory Assets And Liabilities [Line Items]

ZEC Charge per kwh

$ 0.004

Regulatory Assets

$ 4,404,000,000

4,404,000,000

$ 3,605,000,000

Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

ZEC Charge per kwh

0.004

Regulatory Assets

4,773,000,000

4,773,000,000

3,969,000,000

Regulatory Assets

4,404,000,000

4,404,000,000

3,605,000,000

Public Service Electric and Gas Company | ZEC Liability

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

$ (4,000,000)

Public Utilities, Requested Rate Increase (Decrease), Amount

$ (1,300,000)

ZEC purchases

161,000,000

Tax Adjustment Credits Electric Distribution [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

$ 15,000,000

Public Utilities, Requested Rate Increase (Decrease), Amount

17,000,000

Tax Adjustment Credits Gas Distribution [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

31,000,000

Public Utilities, Requested Rate Increase (Decrease), Amount

(70,000,000)

Remediation Adjustment Clause [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

$ 44,000,000

Subsequent Event [Member] | Remediation Adjustment Clause [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Requested Rate Increase (Decrease), Amount

$ 44,000,000

Subsequent Event [Member] | Electric Societal Benefits Clause | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Requested Rate Increase (Decrease), Amount

52,000,000

Subsequent Event [Member] | Gas Societal Benefit Clause | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Requested Rate Increase (Decrease), Amount

$ 32,000,000

Solar or EE Recovery Charge (RRC) [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Regulatory Assets

447,000,000

447,000,000

211,000,000

Societal Benefits Charges Sbc [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Regulatory Assets

145,000,000

145,000,000

139,000,000

Societal Benefits Charges Sbc [Member] | Electric Bad Debt Deferral | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Regulatory Assets

145,000,000

145,000,000

Tax Adjustment Credit [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Regulatory Assets

$ 581,000,000

COVID-19 Deferral | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Regulatory Assets

137,000,000

137,000,000

116,000,000

COVID-19 Deferral - Bad Debt portion [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Regulatory Assets

68,000,000

68,000,000

Gas System Modernization Program II [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

$ 23,000,000

$ 25,000,000

Public Utilities, Requested Rate Increase (Decrease), Amount

11,000,000

Formula Rate True up | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

(1,000,000)

Public Utilities, Requested Rate Increase (Decrease), Amount

$ 69,000,000

Green Program Recovery electric portion [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

400,000

Basic Gas Supply Service | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Proposed BGSS rate per therm

0.50

Approved BGSS rate per therm

0.65

0.41

Basic Gas Supply Service | Subsequent Event [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

BGSS self implementing increase (decrease)

0.15

Gas Green Program Recovery [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

1,000,000

Public Utilities, Requested Rate Increase (Decrease), Amount

$ 8,000,000

Electric Green Program Recovery [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

4,000,000

Public Utilities, Requested Rate Increase (Decrease), Amount

$ 110,000,000

Public Utilities, Requested Program extension amount

$ 320,000,000

Conservation Incentive Program | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

$ 53,000,000

52,000,000

Regulatory Assets

$ 72,000,000

$ 72,000,000

$ 12,000,000

Conservation Incentive Program | Subsequent Event [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Requested Rate Increase (Decrease), Amount

$ 54,000,000

Energy Strong II Electric | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

17,000,000

Energy Strong II Electric | Subsequent Event [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Requested Rate Increase (Decrease), Amount

16,000,000

Energy Strong II Gas | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

$ 1,000,000

Energy Strong II Gas | Subsequent Event [Member] | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Requested Rate Increase (Decrease), Amount

$ 4,000,000

Solar Successor Incentive | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

38,000,000

Conservation Incentive Program First Twelve Months | Public Service Electric and Gas Company

Regulatory Assets And Liabilities [Line Items]

Public Utilities, Approved Rate Increase (Decrease), Amount

$ 18,000,000

Leases (Details)

Leases (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) renewals	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Lessor leases carrying value	$ 214
Energy Holdings [Member]
Lessee, Lease, Description [Line Items]
Assets Held-for-sale, Not Part of Disposal Group	20
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation	51
Impairment of Long-Lived Assets to be Disposed of	$ 78
Public Service Electric and Gas Company
Lessee, Lease, Description [Line Items]
Number of lease renewal terms	4
Operating lease liabilities, current	$ 12	$ 12
PSEG Power LLC [Member]
Lessee, Lease, Description [Line Items]
Number of lease renewal terms | renewals	1
PSEG
Lessee, Lease, Description [Line Items]
Operating lease liabilities, current	$ 28	$ 33
Services | Subsidiaries
Lessee, Lease, Description [Line Items]
Number of lease renewal terms	2

Leases Operating Lease Costs (D

Leases Operating Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Lease Costs
Long-term Lease Costs	$ 56	$ 50	$ 54
Short-term Lease Costs	26	42	45
Variable Lease Costs	13	20	31
Total Operating Lease Costs	95	112	130
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$ 42	$ 43	$ 45
Weighted Average Remaining Lease Term in Years	9 years	9 years	11 years
Weighted Average Discount Rate	3.90%	3.80%	4%
Public Service Electric and Gas Company
Operating Lease Costs
Long-term Lease Costs	$ 31	$ 24	$ 26
Short-term Lease Costs	21	36	38
Variable Lease Costs	2	2	2
Total Operating Lease Costs	54	62	66
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$ 17	$ 17	$ 17
Weighted Average Remaining Lease Term in Years	11 years	12 years	12 years
Weighted Average Discount Rate	3.50%	3.40%	3.50%
Other Segments
Operating Lease Costs
Long-term Lease Costs	$ 25	$ 26	$ 28
Short-term Lease Costs	5	6	7
Variable Lease Costs	11	18	29
Total Operating Lease Costs	41	50	64
Cash Paid for Amounts Included in the Measurement of Operating Lease Liabilities	$ 25	$ 26	$ 28
Weighted Average Remaining Lease Term in Years	7 years	8 years	11 years
Weighted Average Discount Rate	4.10%	4.10%	4.30%

Leases Operating Lease Liabilit

Leases Operating Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 35
Lessee, Operating Lease, Liability, to be Paid, Year Two	28
Lessee, Operating Lease, Liability, to be Paid, Year Three	25
Lessee, Operating Lease, Liability, to be Paid, Year Four	23
Lessee, Operating Lease, Liability, to be Paid, Year Five	24
Lessee, Operating Lease, Liability, to be Paid, after Year Five	100
Total Minimum Lease Payments	235	$ 269
Public Service Electric and Gas Company
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Year One	15
Lessee, Operating Lease, Liability, to be Paid, Year Two	12
Lessee, Operating Lease, Liability, to be Paid, Year Three	10
Lessee, Operating Lease, Liability, to be Paid, Year Four	8
Lessee, Operating Lease, Liability, to be Paid, Year Five	8
Lessee, Operating Lease, Liability, to be Paid, after Year Five	56
Total Minimum Lease Payments	109	117
Other Segments
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Year One	20
Lessee, Operating Lease, Liability, to be Paid, Year Two	16
Lessee, Operating Lease, Liability, to be Paid, Year Three	15
Lessee, Operating Lease, Liability, to be Paid, Year Four	15
Lessee, Operating Lease, Liability, to be Paid, Year Five	16
Lessee, Operating Lease, Liability, to be Paid, after Year Five	44
Total Minimum Lease Payments	$ 126	$ 152

Leases Reconciliation of Undisc

Leases Reconciliation of Undiscounted Cash Flows (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Total Minimum Lease Payments	$ 235	$ 269
Reconciling Amount due to Discount Rate	(38)	(45)
Total Discounted Operating Lease Liabilities	197	224
Public Service Electric and Gas Company
Lessee, Lease, Description [Line Items]
Total Minimum Lease Payments	109	117
Reconciling Amount due to Discount Rate	(20)	(22)
Total Discounted Operating Lease Liabilities	89	95
Other Segments
Lessee, Lease, Description [Line Items]
Total Minimum Lease Payments	126	152
Reconciling Amount due to Discount Rate	(18)	(23)
Total Discounted Operating Lease Liabilities	$ 108	$ 129

Leases Operating Lease Income (

Leases Operating Lease Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Lease Income
Fixed Lease Income	$ 31	$ 23	$ 15
Variable Lease Income	0	12	26
Total Operating Lease Income	$ 31	$ 35	$ 41
Operating Lease Income Comprehensive Income Extensible List Not Disclosed Flag			true

Leases Operating Lease Right-Of

Leases Operating Lease Right-Of-Use Assets (Details) $ in Millions	Dec. 31, 2022 USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Lessor, Operating Lease, Payment to be Received, Year One	$ 19
Lessor, Operating Lease, Payment to be Received, Year Two	19
Lessor, Operating Lease, Payment to be Received, Year Three	19
Lessor, Operating Lease, Payment to be Received, Year Four	19
Lessor, Operating Lease, Payment to be Received, Year Five	14
Lessor, Operating Lease, Payment to be Received, after Year Five	124
Total Minimum Future Lease Receipts	$ 214

Long-Term Investments (Schedule

Long-Term Investments (Schedule Of Long Term Investments) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Long-Term Investments [Line Items]
Total Long-Term Investments		$ 624	$ 541
Dividends in equity method investments		8	17	$ 15
Provision for Loan and Lease Losses			9	$ 26
Public Service Electric and Gas Company
Long-Term Investments [Line Items]
Total Long-Term Investments		143	181
Life Insurance And Supplemental Benefits [Member] | Public Service Electric and Gas Company
Long-Term Investments [Line Items]
Total Long-Term Investments		81	89
Solar Loan Investment [Member] | Public Service Electric and Gas Company
Long-Term Investments [Line Items]
Total Long-Term Investments		62	92
Partnerships And Corporate Joint Ventures [Member]
Long-Term Investments [Line Items]
Total Long-Term Investments	[1]	306	173
Leases [Member]
Long-Term Investments [Line Items]
Total Long-Term Investments		$ 175	$ 187
[1]During the three years ended December 31, 2022, 2021 and 2020, dividends from these investments were $8 million, $17 million and $15 million, respectively.

Long-Term Investments (Schedu_2

Long-Term Investments (Schedule Of Net Investment In Leveraged Leases) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Investments [Line Items]
Provision for Loan and Lease Losses		$ 9	$ 26
Assets Held for Sale	$ 20	2,060
Maximum U.S. Corporate Income Tax Rate	21%
Lease Receivables (net of Non-Recourse Debt)	$ 249	274
Estimated Residual Value of Leased Assets	0	0
Total Investment in Rental Receivables	249	274
Unearned and Deferred Income	(74)	(87)
Gross Investment in Leases	175	187
Deferred Tax Liabilities	(39)	(42)
Net Investments in Leases	$ 136	$ 145

Long-Term Investments (Schedu_3

Long-Term Investments (Schedule Of Pre-Tax Income And Income Tax Effects Related To Investments In Leveraged Leases) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Long-Term Investments [Abstract]
Pre-Tax Income (Loss) from Leases	$ 13	$ 13	$ 18
Income Tax Expense (Benefit) on Income from Leases	$ 3	$ 3	$ 2

Long-Term Investments (Equity M

Long-Term Investments (Equity Method Investments) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Long-Term Investments [Line Items]
Long-Term Investments		$ 624	$ 541
Kalaeloa [Member]
Long-Term Investments [Line Items]
Owned percentage		50%
Ocean Wind JV Holdco
Long-Term Investments [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount		$ 225	111
Partnerships And Corporate Joint Ventures [Member]
Long-Term Investments [Line Items]
Long-Term Investments	[1]	306	173
Partnerships And Corporate Joint Ventures [Member] | Kalaeloa [Member]
Long-Term Investments [Line Items]
Long-Term Investments		71	$ 62
Partnerships And Corporate Joint Ventures [Member] | Energy Impact Partners
Long-Term Investments [Line Items]
Long-Term Investments		$ 10
[1]During the three years ended December 31, 2022, 2021 and 2020, dividends from these investments were $8 million, $17 million and $15 million, respectively.

Financing Receivables (Schedule

Financing Receivables (Schedule Of Credit Risk Profile Based On Payment Activity) (Detail) - Public Service Electric and Gas Company - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Solar Loans	$ 89	$ 121
Current Portion of Solar Loans	(27)	(29)
Noncurrent Portion of Solar Loans	$ 62	92
Average loan repayment period	8 years
Solar Loan I
Concentration Risk [Line Items]
Solar Loans	$ 9
Solar Loan II
Concentration Risk [Line Items]
Solar Loans	42
Solar Loan III
Concentration Risk [Line Items]
Solar Loans	$ 38
Minimum
Concentration Risk [Line Items]
Loan Receivable, term	10 years
Maximum [Member]
Concentration Risk [Line Items]
Loan Receivable, term	15 years
Commercial/Industrial [Member]
Concentration Risk [Line Items]
Solar Loans	$ 85	116
Commercial/Industrial [Member] | Solar Loan I
Concentration Risk [Line Items]
Loan Receivable, term	15 years
Commercial/Industrial [Member] | Solar Loan II
Concentration Risk [Line Items]
Loan Receivable, term	15 years
Commercial/Industrial [Member] | Solar Loan III
Concentration Risk [Line Items]
Loan Receivable, term	10 years
Residential [Member]
Concentration Risk [Line Items]
Solar Loans	$ 4	$ 5
Residential [Member] | Solar Loan I
Concentration Risk [Line Items]
Loan Receivable, term	10 years
Residential [Member] | Solar Loan II
Concentration Risk [Line Items]
Loan Receivable, term	10 years
Residential [Member] | Solar Loan III
Concentration Risk [Line Items]
Loan Receivable, term	10 years

Financing Receivables (Schedu_2

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

Financing Receivables (Narrativ

Financing Receivables (Narrative) (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment [Line Items]
Net Investments in Leases	$ 136	$ 145

Trust Investments (Fair Values

Trust Investments (Fair Values And Gross Unrealized Gains And Losses For The Securities) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Cost	$ 2,130		$ 2,157
Gross Unrealized Gains	301		510
Gross Unrealized Losses	203		32
Fair Value	2,228	[1]	2,635	[2]
Nuclear Decommissioning Trust (NDT) Fund [Member] | Domestic Equity Securities [Member]
Schedule of Trust Investments [Line Items]
Cost	476		491
Equity Securities, FV-NI, Unrealized Gain	232		363
Gross Unrealized Losses	(12)		(3)
Fair Value	696		851
Nuclear Decommissioning Trust (NDT) Fund [Member] | International Equity Securities [Member]
Schedule of Trust Investments [Line Items]
Cost	336		346
Equity Securities, FV-NI, Unrealized Gain	68		119
Gross Unrealized Losses	(28)		(15)
Fair Value	376		450
Nuclear Decommissioning Trust (NDT) Fund [Member] | Equity Securities [Member]
Schedule of Trust Investments [Line Items]
Cost	812		837
Equity Securities, FV-NI, Unrealized Gain	300		482
Gross Unrealized Losses	(40)		(18)
Fair Value	1,072		1,301
Unrealized Gains (Losses) on Equity Securities still held	(163)
Nuclear Decommissioning Trust (NDT) Fund [Member] | Government Obligations [Member]
Schedule of Trust Investments [Line Items]
Cost	721		683
Gross Unrealized Gains	0		12
Gross Unrealized Losses	(94)		(8)
Fair Value	627		687
Nuclear Decommissioning Trust (NDT) Fund [Member] | Corporate Debt Securities [Member]
Schedule of Trust Investments [Line Items]
Cost	597		637
Gross Unrealized Gains	1		16
Gross Unrealized Losses	(69)		(6)
Fair Value	529		647
Nuclear Decommissioning Trust (NDT) Fund [Member] | Debt Securities [Member]
Schedule of Trust Investments [Line Items]
Cost	1,318		1,320
Gross Unrealized Gains	1		28
Gross Unrealized Losses	(163)		(14)
Fair Value	1,156		1,334
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent	(95)
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Cost	213		226
Gross Unrealized Gains	6		18
Gross Unrealized Losses	36		2
Fair Value	183		242
Rabbi Trust [Member] | Domestic Equity Securities [Member]
Schedule of Trust Investments [Line Items]
Cost	14		14
Equity Securities, FV-NI, Unrealized Gain	6		12
Gross Unrealized Losses	0		0
Fair Value	20		26
Rabbi Trust [Member] | Equity Securities [Member]
Schedule of Trust Investments [Line Items]
Unrealized Gains (Losses) on Equity Securities still held	(6)
Rabbi Trust [Member] | Government Obligations [Member]
Schedule of Trust Investments [Line Items]
Cost	110		107
Gross Unrealized Gains	0		1
Gross Unrealized Losses	(21)		(1)
Fair Value	89		107
Rabbi Trust [Member] | Corporate Debt Securities [Member]
Schedule of Trust Investments [Line Items]
Cost	89		105
Gross Unrealized Gains	0		5
Gross Unrealized Losses	(15)		(1)
Fair Value	74		109
Rabbi Trust [Member] | Debt Securities [Member]
Schedule of Trust Investments [Line Items]
Cost	199		212
Gross Unrealized Gains	0		6
Gross Unrealized Losses	(36)		(2)
Fair Value	163		$ 216
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent	$ (26)
[1]The NDT Fund Investments table excludes cash and foreign currency of $2 million as of December 31, 2022, 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	Dec. 31, 2022	Dec. 31, 2021
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Accounts Receivable	$ 1	$ 1
Accounts Payable	0	0
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Accounts Receivable	14	11
Accounts Payable	$ 6	$ 11

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		Dec. 31, 2022	Dec. 31, 2021
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less than 12 Months		$ 700	$ 783
Gross Unrealized Losses, Less than 12 Months		(70)	(25)
Fair Value, Greater than 12 Months		588	106
Gross Unrealized Losses, Greater than 12 Months		(133)	(7)
Nuclear Decommissioning Trust (NDT) Fund [Member] | Domestic Equity Securities [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less Than 12 Months	[1]	90	69
Gross Unrealized Losses, Less than 12 Months	[1]	(10)	(3)
Fair Value, Greater than 12 Months	[1]	9	0
Gross Unrealized Losses, Greater than 12 Months	[1]	(2)	0
Nuclear Decommissioning Trust (NDT) Fund [Member] | International Equity Securities [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less Than 12 Months	[1]	88	76
Gross Unrealized Losses, Less than 12 Months	[1]	(12)	(13)
Fair Value, Greater than 12 Months	[1]	38	9
Gross Unrealized Losses, Greater than 12 Months	[1]	(16)	(2)
Nuclear Decommissioning Trust (NDT) Fund [Member] | Equity Securities [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less Than 12 Months	[1]	178	145
Gross Unrealized Losses, Less than 12 Months	[1]	(22)	(16)
Fair Value, Greater than 12 Months	[1]	47	9
Gross Unrealized Losses, Greater than 12 Months	[1]	(18)	(2)
Nuclear Decommissioning Trust (NDT) Fund [Member] | Government Obligations [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less Than 12 Months	[2]	301	332
Gross Unrealized Losses, Less than 12 Months	[2]	(27)	(5)
Fair Value, Greater Than 12 Months	[2]	292	67
Gross Unrealized Losses, Greater Than 12 Months	[2]	(67)	(3)
Nuclear Decommissioning Trust (NDT) Fund [Member] | Corporate Debt Securities [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less Than 12 Months	[3]	221	306
Gross Unrealized Losses, Less than 12 Months	[3]	(21)	(4)
Fair Value, Greater Than 12 Months	[3]	249	30
Gross Unrealized Losses, Greater Than 12 Months	[3]	(48)	(2)
Nuclear Decommissioning Trust (NDT) Fund [Member] | Debt Securities [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less Than 12 Months		522	638
Gross Unrealized Losses, Less than 12 Months		(48)	(9)
Fair Value, Greater Than 12 Months		541	97
Gross Unrealized Losses, Greater Than 12 Months		(115)	(5)
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less than 12 Months		67	97
Gross Unrealized Losses, Less than 12 Months		(10)	(1)
Fair Value, Greater than 12 Months		96	21
Gross Unrealized Losses, Greater than 12 Months		(26)	(1)
Rabbi Trust [Member] | Government Obligations [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less Than 12 Months	[4]	32	57
Gross Unrealized Losses, Less than 12 Months	[4]	(5)	0
Fair Value, Greater Than 12 Months	[4]	57	16
Gross Unrealized Losses, Greater Than 12 Months	[4]	(16)	(1)
Rabbi Trust [Member] | Corporate Debt Securities [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less Than 12 Months	[5]	35	40
Gross Unrealized Losses, Less than 12 Months	[5]	(5)	(1)
Fair Value, Greater Than 12 Months	[5]	39	5
Gross Unrealized Losses, Greater Than 12 Months	[5]	(10)	0
Rabbi Trust [Member] | Debt Securities [Member]
Schedule of Trust Investments [Line Items]
Fair Value, Less Than 12 Months		67	97
Gross Unrealized Losses, Less than 12 Months		(10)	(1)
Fair Value, Greater Than 12 Months		96	21
Gross Unrealized Losses, Greater Than 12 Months		$ (26)	$ (1)
[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 corporate bonds because they are primarily investment grade securities.[4]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.[5]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 corporate bonds because they are primarily investment grade.

Trust Investments (Proceeds Fro

Trust Investments (Proceeds From The Sales Of And The Net Realized Gains On Securities) (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Trust Investments [Line Items]
Net Gains (Losses) on NDT Fund Investments		$ (265)	$ 194	$ 253
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Proceeds from sales	[1]	1,521	1,930	2,031
Gross Realized Gains		86	236	214
Gross Realized Losses		136	70	94
Net Realized Gains (Losses) on NDT Fund	[2]	(50)	166	120
Net Unrealized Gains (Losses) on Equity Securities		(205)	19	120
Impairment of Available-for-Sale Debt Securities	[3]	0	0	(3)
Net Gains (Losses) on NDT Fund Investments		(255)	185	237
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Proceeds from sales		65	170	203
Gross Realized Gains		5	16	19
Gross Realized Losses		9	8	6
Net Realized Gains (Losses) on NDT Fund	[4]	(4)	8	13
Net Unrealized Gains (Losses) on Equity Securities		(6)	1	3
Net Gains (Losses) on NDT Fund Investments		$ (10)	$ 9	$ 16
[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.[3]PSEG Power recognized an impairment of available-for-sale debt securities in 2020. PSEG Power’s policy is to sell all securities that are rated below investment grade.[4]The cost of these securities was determined on the basis of specific identification.

Trust Investments (Narrative) (

Trust Investments (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
NDT Fund Foreign Currency	$ 2	$ 2
Decommissioning Liability, Noncurrent	1,100
Nuclear Decommissioning Trust (NDT) Fund [Member] | Minimum
Schedule of Trust Investments [Line Items]
Decommissioning Costs Including Contingencies	3,000
Nuclear Decommissioning Trust (NDT) Fund [Member] | Maximum [Member]
Schedule of Trust Investments [Line Items]
Decommissioning Costs Including Contingencies	3,400
Debt Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent	(95)
Debt Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent	(26)
Equity Securities [Member] | Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Unrealized Gains (Losses) on Equity Securities still held	(163)
Equity Securities [Member] | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Unrealized Gains (Losses) on Equity Securities still held	$ (6)

Trust Investments (Amount Of Av

Trust Investments (Amount Of Available-For-Sale Debt Securities By Maturity Periods) (Detail) - Debt Securities [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Nuclear Decommissioning Trust (NDT) Fund [Member]
Schedule of Trust Investments [Line Items]
Available-for-sale debt securities, Less than one year	$ 12
Available-for-sale debt securities, 1-5 years	319
Available-for-sale debt securities, 6-10 years	221
Available-for-sale debt securities, 11-15 years	62
Available-for-sale debt securities, 16-20 years	96
Available-for-sale debt securities, Over 20 years	446
Total Available-for-Sale Debt Securities	1,156	$ 1,334
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Available-for-sale debt securities, Less than one year	0
Available-for-sale debt securities, 1-5 years	29
Available-for-sale debt securities, 6-10 years	23
Available-for-sale debt securities, 11-15 years	7
Available-for-sale debt securities, 16-20 years	16
Available-for-sale debt securities, Over 20 years	88
Total Available-for-Sale Debt Securities	$ 163	$ 216

Trust Investments (Fair Value O

Trust Investments (Fair Value Of Rabbi Trust) (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Schedule of Trust Investments [Line Items]
Rabbi Trust	$ 183	$ 242
Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Rabbi Trust	183	242
Public Service Electric and Gas Company
Schedule of Trust Investments [Line Items]
Rabbi Trust	32	43
Public Service Electric and Gas Company | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Rabbi Trust	32	43
PSEG Power & Other | Rabbi Trust [Member]
Schedule of Trust Investments [Line Items]
Rabbi Trust	$ 151	$ 199

Intangibles (Narrative) (Detail

Intangibles (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Intangible Assets	$ 14	$ 20	$ 158

Intangibles (Schedule of Intang

Intangibles (Schedule of Intangibles) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Retirement of Intangibles		$ (76)	$ (172)
Purchases of Intangible Assets		70	98
Sales and Transfers of Intangible Assets	[1]		(63)
Impairments			(1)
Intangible Assets		14	20	$ 158
Renewable Energy Credits [Member]
Goodwill [Line Items]
Retirement of Intangibles		(76)	(114)
Purchases of Intangible Assets		70	89
Sales and Transfers of Intangible Assets	[1]		(1)
Impairments			0
Intangible Assets		14	20	46
Emissions Allowances [Member]
Goodwill [Line Items]
Retirement of Intangibles		0	(58)
Purchases of Intangible Assets		0	9
Sales and Transfers of Intangible Assets	[1]		(62)
Impairments			(1)
Intangible Assets		$ 0	0	$ 112
Transfer to Assets Held for Sale			$ 52
[1]Includes $52 million classified as Assets Held for Sale. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments.

Asset Retirement Obligations _3

Asset Retirement Obligations (AROs) (Impact Of The Revisions On Asset Retirement Obligation) (Details) - USD ($) $ in Millions		3 Months Ended			12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO Liability, Beginning Balance					$ 1,573	$ 1,212
Liabilities Settled					(15)	(15)
Adjustments	[1]					(37)
Accretion Expense					50	44
Accretion Expense Deferred and Recovered in Rate Base	[2]				17	16
Revision to Present Value of Future Cash Flows					(126)	353
ARO Liability, Ending Balance			$ 1,573		1,499	1,573
Public Service Electric and Gas Company
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO Liability, Beginning Balance					363	314
Liabilities Settled					(15)	(14)
Adjustments	[1]					0
Accretion Expense					0	0
Accretion Expense Deferred and Recovered in Rate Base	[2]				17	16
Revision to Present Value of Future Cash Flows					19	47
ARO Liability, Ending Balance			363		384	363
Other [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Revision to Present Value of Future Cash Flows			255	$ 51
PSEG Power & Other
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
ARO Liability, Beginning Balance					1,210	898
Liabilities Settled					0	(1)
Adjustments	[1]					(37)
Accretion Expense					50	44
Accretion Expense Deferred and Recovered in Rate Base	[2]				0	0
Revision to Present Value of Future Cash Flows					(145)	306
ARO Liability, Ending Balance			$ 1,210		$ 1,115	$ 1,210
PSEG Power LLC [Member]
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Revision to Present Value of Future Cash Flows		$ 145
[1]Represents amounts related to the sale of the solar plants and the fossil generating assets classified as Held for Sale.[2]Not reflected as expense in Consolidated Statements of Operations.

Pension, OPEB and Savings Pla_3

Pension, OPEB and Savings Plans (Narrative) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2023	Dec. 31, 2022 USD ($) plan	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of PSEG's defined contribution plans | plan			2
Defined benefit plan funded status of plan percentage			87%
Defined benefit plans, projected benefit and accumulated benefit obligations			$ 5,500	$ 7,100
Maximum annual 401(k) contribution per employee, percent			50%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match			50%
Total Employer Matching Contributions			$ 42	44	$ 43
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax			426	355
Accumulated Other Comprehensive Income (Loss), Defined Benefit Pension and Other Postretirement Plans, Before Tax			594	495
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)			$ (115)	$ (82)	$ (28)
Discount Rate	2.61%		5.20%	2.94%	2.61%
Expected long-term rate of return on plan assets			7.20%	7.70%	7.70%
Interest in Master Trust assets percentage			92%
Other Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation			$ 137
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)			$ (124)	$ (96)	$ (77)
Discount Rate	2.46%		5.16%	2.82%	2.46%
Expected long-term rate of return on plan assets			7.20%	7.69%	7.70%
Interest in Master Trust assets percentage			8%
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			54%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			28%
Other Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			18%
Real asset through equity securities percentage at year end			0.12
Thrift Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent			8%
Savings Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent			7%
Long Island Electric Utility Servco LLC Pension and OPEB [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of PSEG's defined contribution plans | plan			2
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year			$ 18
Maximum annual 401(k) contribution per employee, percent			50%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match			50%
Employer matching contribution, percent			8%
Total Employer Matching Contributions			$ 9
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 30		$ 30	$ 37
Discount Rate	2.98%		5.30%	3.21%	2.98%
Expected long-term rate of return on plan assets			7.60%
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)			$ 10	$ 11	$ 9
Discount Rate	3.08%		5.34%	3.28%	3.08%
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			60%
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			25%
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Other Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets			15%
Real asset through equity securities percentage at year end			0.15
Subsequent Event [Member] | Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets		8.10%
Subsequent Event [Member] | Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets		8%

Pension, OPEB and Savings Pla_4

Pension, OPEB and Savings Plans (Changes In The Benefit Obligation And The Fair Value Of Plan Assets) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Deferred Costs and Other Assets		$ 8,473	$ 8,383
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Year	[1]	7,499
Fair Value of Assets at End of Year	[1]	5,331	7,499
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated Other Comprehensive Income (Loss), Defined Benefit Pension and Other Postretirement Plans, Before Tax		594	495
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax		426	355
Regulatory Assets		1,405	1,043
Deferred Costs and Other Assets		141	117
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Year	[2]	7,240	7,507
Service Cost		142	151	$ 141
Interest Cost		167	140	192
Actuarial (Gain) Loss	[3]	(1,517)	(199)
Gross Benefits Paid		(382)	(359)
Defined Benefit Plan, Benefit Obligation, Other		22	0
Benefit Obligation at End of Year	[2]	5,628	7,240	7,507
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Year		6,906	6,368
Actual Return on Plan Assets		(1,606)	886
Employer Contributions		11	11
Gross Benefits Paid		(382)	(359)
Defined Benefit Plan, Plan Assets, Other		18	0
Fair Value of Assets at End of Year		4,911	6,906	6,368
Funded Status (Plan Assets less Benefit Obligation)		(717)	(334)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Current Accrued Benefit Cost	[4]	(12)	(16)
Accrued Benefit Cost		(705)	(318)
Amounts Recognized		(717)	(334)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Prior Service Cost		0	0
Net Actuarial Loss		2,151	1,643
Total	[5]	(2,151)	(1,643)
Liability, Defined Benefit Plan, Current portion held for sale			5
Other Benefits [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Year	[2]	1,197	1,306
Service Cost		6	9	9
Interest Cost		26	22	34
Actuarial (Gain) Loss	[3]	(314)	(90)
Gross Benefits Paid		(61)	(50)
Defined Benefit Plan, Benefit Obligation, Other		3	0
Benefit Obligation at End of Year	[2]	851	1,197	1,306
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Year		606	564
Actual Return on Plan Assets		(139)	79
Employer Contributions		23	13
Gross Benefits Paid		(61)	(50)
Defined Benefit Plan, Plan Assets, Other		0	0
Fair Value of Assets at End of Year		429	606	564
Funded Status (Plan Assets less Benefit Obligation)		(422)	(591)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Current Accrued Benefit Cost	[4]	(12)	(19)
Accrued Benefit Cost		(410)	(572)
Amounts Recognized		(422)	(591)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Prior Service Cost		(52)	(181)
Net Actuarial Loss		41	193
Total	[5]	11	(12)
Liability, Defined Benefit Plan, Current portion held for sale			7
Long Island Electric Utility Servco LLC Pension and OPEB [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Year		422
Fair Value of Assets at End of Year		370	422
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Pension Benefits [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Year	[6]	596	569
Service Cost		38	38
Interest Cost		17	14
Actuarial (Gain) Loss	[7]	(189)	(18)
Gross Benefits Paid		(10)	(7)
Benefit Obligation at End of Year	[6]	452	596	569
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Year		422	343
Actual Return on Plan Assets		(72)	49
Employer Contributions		30	37
Gross Benefits Paid		(10)	(7)
Fair Value of Assets at End of Year		370	422	343
Funded Status (Plan Assets less Benefit Obligation)		(82)	(174)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Accrued Benefit Cost		(82)	(174)
Amounts Recognized	[8]	(82)	(174)
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Other Benefits [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit Obligation at Beginning of Year	[6]	640	699
Service Cost		21	23
Interest Cost		19	18
Actuarial (Gain) Loss	[7]	(215)	(89)
Gross Benefits Paid		(10)	(11)
Benefit Obligation at End of Year	[6]	455	640	699
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair Value of Assets at Beginning of Year		0	0
Actual Return on Plan Assets		0	0
Employer Contributions		10	11
Gross Benefits Paid		(10)	(11)
Fair Value of Assets at End of Year		0	0	$ 0
Funded Status (Plan Assets less Benefit Obligation)		(455)	(640)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Accrued Benefit Cost		(455)	(640)
Amounts Recognized	[8]	$ (455)	$ (640)
[1]Excludes net receivables of $7 million and $11 million as of December 31, 2022 and 2021, respectively, which consist of interest, dividends and receivables and payables related to pending securities sales and purchases. In addition, the table excludes cash and foreign currency of $2 million as of each of December 31, 2022 and 2021.[2]Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits. The vested benefit obligation is the actuarial present value of the vested benefits to which the employee is currently entitled but based on the employee’s expected date of separation or retirement.[3]For pension benefits, the net actuarial gains in 2022 and 2021 were due primarily to an increase in the discount rate. For OPEB, the net actuarial gain in 2022 was due primarily to an increase in the discount rate and other assumption updates. For OPEB, the net actuarial gain in 2021 was due primarily to an increase in the discount rate coupled with lower than expected claims experience.[4]Includes ($5) million and ($7) million for pension benefits and other benefits, respectively, as of December 31, 2021 classified as Held for Sale. For additional information, see Note 4. Early Plant Retirements/Asset Dispositions and Impairments.[5]Includes $594 million ($426 million, after-tax) and $495 million ($355 million, after-tax) in Accumulated Other Comprehensive Loss related to Pension and OPEB as of December 31, 2022 and 2021, respectively. Also includes Regulatory Assets of $1,405 million and Deferred Assets of $141 million as of December 31, 2022 and Regulatory Assets of $1,043 million and Deferred Assets of $117 million as of December 31, 2021[6]Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits. The vested benefit obligation is the actuarial present value of the vested benefits to which the employee is currently entitled but based on the employee’s expected date of separation or retirement.[7]For pension benefits and OPEB, the net actuarial gains in 2022 were due primarily to an increase in the discount rate. For pension benefits, the net actuarial gain in 2021 was due primarily to an increase in the discount rate. For OPEB, the net actuarial gain in 2021 was due primarily to updated assumptions.[8]Amounts equal to the accrued pension and OPEB costs of Servco are offset in Long-Term Receivable of VIE on PSEG’s Consolidated Balance Sheets.

Pension, OPEB and Savings Pla_5

Pension, OPEB and Savings Plans (Components Of Net Periodic Benefit Cost) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost	$ 142	$ 151	$ 141
Interest Cost	167	140	192
Expected Return on Plan Assets	(484)	(476)	(443)
Amortization of Prior Service Cost	0	0	(10)
Amortization of Net Actuarial Gain (Loss)	60	103	92
Non-Operating Pension and Other Postretirement Plan (Credits) Costs	(257)	(233)	(169)
Net Periodic Benefit Cost	(115)	(82)	(28)
Total Benefit Costs, Including Effect of Regulatory Asset	(115)	(82)	(28)
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost	6	9	9
Interest Cost	26	22	34
Expected Return on Plan Assets	(42)	(42)	(39)
Amortization of Prior Service Cost	(129)	(129)	(128)
Amortization of Net Actuarial Gain (Loss)	15	44	47
Non-Operating Pension and Other Postretirement Plan (Credits) Costs	(130)	(105)	(86)
Net Periodic Benefit Cost	(124)	(96)	(77)
Total Benefit Costs, Including Effect of Regulatory Asset	$ (124)	$ (96)	$ (77)

Pension, OPEB and Savings Pla_6

Pension, OPEB and Savings Plans (Schedule Of Pension And OPEB Costs) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ (115)	$ (82)	$ (28)
Total Benefit Costs	(115)	(82)	(28)
Pension Benefits [Member] | Public Service Electric and Gas Company
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(70)	(64)	(27)
Pension Benefits [Member] | PSEG Power & Other
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(45)	(18)	(1)
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(124)	(96)	(77)
Total Benefit Costs	(124)	(96)	(77)
Other Benefits [Member] | Public Service Electric and Gas Company
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(109)	(92)	(76)
Other Benefits [Member] | PSEG Power & Other
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ (15)	$ (4)	$ (1)

Pension, OPEB and Savings Pla_7

Pension, OPEB and Savings Plans (Pre-Tax Changes Recognized In Accumulated Other Comprehensive Income (Loss), Regulatory Assets And Deferred Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Actuarial (Gain) Loss in Current Period	$ 568	$ (608)
Amortization of Net Actuarial Gain (Loss)	(60)	(103)
Prior Service Cost (Credit) in Current Period	0	0
Amortization of Prior Service Credit	0	0
Total	508	(711)
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Actuarial (Gain) Loss in Current Period	(138)	(127)
Amortization of Net Actuarial Gain (Loss)	(14)	(44)
Prior Service Cost (Credit) in Current Period	0	0
Amortization of Prior Service Credit	129	129
Total	$ (23)	$ (42)

Pension, OPEB and Savings Pla_8

Pension, OPEB and Savings Plans (Assumptions Used To Determine The Benefit Obligations And Net Periodic Benefit Costs) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	5.20%	2.94%	2.61%
Expected Return on Plan Assets	7.20%	7.70%	7.70%
Rate of Compensation Increase	4.40%	4.40%	4.40%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate	6%	6%	6%
Service Cost Interest Rate	3.19%	2.94%	3.49%
Interest Cost Interest Rate	2.37%	1.91%	2.87%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase	4.40%	4.40%	3.90%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Weighted-Average Interest Crediting Rate	6%	6%	6%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.94%	2.61%	3.30%
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	5.16%	2.82%	2.46%
Expected Return on Plan Assets	7.20%	7.69%	7.70%
Rate of Compensation Increase	4.40%	4.40%	4.40%
Service Cost Interest Rate	3.06%	2.76%	3.50%
Interest Cost Interest Rate	2.21%	1.70%	2.87%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase	4.40%	4.40%	3.90%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.82%	2.46%	3.20%
Immediate Rate	6.98%	6.14%	6.37%
Ultimate Rate	4.75%	4.75%	4.75%
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	5.30%	3.21%	2.98%
Expected Return on Plan Assets	7.60%
Rate of Compensation Increase	3.95%	3.95%	3.95%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate	4.30%	3.75%	3.75%
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate	5.34%	3.28%	3.08%
Rate of Compensation Increase	3.95%	3.95%	3.95%
Immediate Rate	6.71%	6.48%	6.70%
Ultimate Rate	4.75%	4.75%	4.75%

Pension, OPEB and Savings Pla_9

Pension, OPEB and Savings Plans (Fair Value Measurements And The Levels Of Inputs Used In Determining Fair Values) (Details) - USD ($) $ in Millions		Dec. 31, 2022		Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[1]	$ 5,331		$ 7,499
Net receivables excluded from Fair Value		7		11
Cash and foreign currency excluded from Fair Value		2		2
Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	36		45
Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	1,231		1,959
Commingled Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	1,346		1,948
Preferred Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]			2
Other Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]			2
Commingled Equities at NAV [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[6]	965		1,403
Private Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[7]	3		3
US Treasury Obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[8]	1,351		1,761
Commingled Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[8]	4		4
Subtotal before Measured at Net Asset Value Practical Expedient [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[8]	3,968		5,721
Real Estate Investment [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[9]	395		372
Quoted Market Prices for Identical Assets (Level 1) [Member] | Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	36		45
Quoted Market Prices for Identical Assets (Level 1) [Member] | Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	1,231		1,959
Quoted Market Prices for Identical Assets (Level 1) [Member] | Commingled Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	0		1,085
Quoted Market Prices for Identical Assets (Level 1) [Member] | Preferred Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]			2
Quoted Market Prices for Identical Assets (Level 1) [Member] | Other Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]			2
Quoted Market Prices for Identical Assets (Level 1) [Member] | US Treasury Obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[8]	0		0
Quoted Market Prices for Identical Assets (Level 1) [Member] | Commingled Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[8]	4		4
Quoted Market Prices for Identical Assets (Level 1) [Member] | Subtotal before Measured at Net Asset Value Practical Expedient [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[8]	1,271		3,097
Significant Other Observable Inputs (Level 2) [Member] | Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[2]	0		0
Significant Other Observable Inputs (Level 2) [Member] | Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[3]	0		0
Significant Other Observable Inputs (Level 2) [Member] | Commingled Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[4]	1,346		863
Significant Other Observable Inputs (Level 2) [Member] | Preferred Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets				0
Significant Other Observable Inputs (Level 2) [Member] | Other Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[5]			0
Significant Other Observable Inputs (Level 2) [Member] | US Treasury Obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[8]	1,351		1,761
Significant Other Observable Inputs (Level 2) [Member] | Commingled Debt [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[8]	0		0
Significant Other Observable Inputs (Level 2) [Member] | Subtotal before Measured at Net Asset Value Practical Expedient [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[8]	2,697		2,624
Long Island Electric Utility Servco LLC Pension and OPEB [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		370		422
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1		1
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		25	[10]	34
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Commingled Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[11]	251		285
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Fixed Income Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[11]	93		102
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		26		35
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1		1
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		25	[10]	34	[11]
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Commingled Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	[11]	0
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Fixed Income Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[11]	0		0
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		344		387
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Significant Other Observable Inputs (Level 2) [Member] | Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0		0
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Significant Other Observable Inputs (Level 2) [Member] | Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0	[10]	0	[11]
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Significant Other Observable Inputs (Level 2) [Member] | Commingled Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		251	[11]	285
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Significant Other Observable Inputs (Level 2) [Member] | Fixed Income Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	[11]	$ 93		$ 102
[1]Excludes net receivables of $7 million and $11 million as of December 31, 2022 and 2021, respectively, which consist of interest, dividends and receivables and payables related to pending securities sales and purchases. In addition, the table excludes cash and foreign currency of $2 million as of each of December 31, 2022 and 2021.[2]The Collective Investment Fund publishes a daily net asset value (NAV) which participants may use for daily redemptions without restrictions (Level 1).[3]Common stocks and preferred stocks are measured using observable data in active markets and considered Level 1.[4]Commingled Funds that allow daily redemption at their daily published NAV without restrictions are classified as Level 1. Commingled Funds that publish daily NAV but with certain near-term redemption restrictions which prevent redemption at the published daily NAV are classified as Level 2.[5]Investment in a publicly traded limited partnership.[6]Certain commingled equity funds are not included in the fair value hierarchy as they are measured at fair value using the NAV per share (or its equivalent) practical expedient. These funds do not meet the definition of readily determinable fair value due to the frequency of publishing NAV (monthly). The objectives of these funds are mainly tracking the S&P Index or achieving long-term growth through investment in foreign equity securities and the Morgan Stanley Capital International Index.[7]Private equity investments primarily include various limited partnerships that invest in either operating companies through acquisitions or developing a portfolio of non-U.S. distressed investments to maximize total return on capital. These investments are valued at NAV (or its equivalent) on a quarterly basis and have significant redemption restrictions preventing redemption until fund liquidation and limited ability to sell these investments. Fund liquidation is not expected to occur for several more years. These investments are not included in the fair value hierarchy in accordance with the guidance on NAV practical expedient.[8]Debt securities include mainly U.S. Treasury obligations. These investments are valued using an evaluated pricing approach 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 or the most recent quotes for similar securities which are a Level 2 measure.[9]The unlisted real estate fund invests in office, apartment, industrial and retail space. The fund is valued using the NAV per unit of funds. The investment value of the real estate properties is determined on a quarterly basis by independent market appraisers engaged by the board of directors of the fund. The ability to redeem funds is subject to the availability of cash arising from net investment income, allocations and the sale of investments in the normal course of business. The fund’s NAV is published quarterly. In addition, redemptions require one quarter advance notice prior to redemption and are fulfilled quarterly. The fund, therefore, does not meet the definition of readily determinable fair value. The purpose of the fund is to acquire, own, hold for investment and ultimately dispose of investments in real estate and real estate-related assets with the intention of achieving current income, capital appreciation or both.[10]Common stocks are measured using observable data in active markets and considered Level 1.[11]Investments in commingled equity and bond funds have a readily determinable fair value as they publish a daily NAV available to investors which is the basis for current transactions and contain certain redemption restrictions requiring advance notice of one to two days for withdrawals (Level 2).

Pension, OPEB and Savings Pl_10

Pension, OPEB and Savings Plans (Reconciliations Of The Beginning And Ending Balances Of Pension And OPEB Plans' Level 3 Assets) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Assets at Beginning of Year	$ 7,499	[1]
Fair Value of Assets at End of Year	5,331	[1]
Private Equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Assets at Beginning of Year	3	[2]
Fair Value of Assets at End of Year	$ 3	[2]
[1]Excludes net receivables of $7 million and $11 million as of December 31, 2022 and 2021, respectively, which consist of interest, dividends and receivables and payables related to pending securities sales and purchases. In addition, the table excludes cash and foreign currency of $2 million as of each of December 31, 2022 and 2021.[2]Private equity investments primarily include various limited partnerships that invest in either operating companies through acquisitions or developing a portfolio of non-U.S. distressed investments to maximize total return on capital. These investments are valued at NAV (or its equivalent) on a quarterly basis and have significant redemption restrictions preventing redemption until fund liquidation and limited ability to sell these investments. Fund liquidation is not expected to occur for several more years. These investments are not included in the fair value hierarchy in accordance with the guidance on NAV practical expedient.

Pension, OPEB and Savings Pl_11

Pension, OPEB and Savings Plans (Schedule Of Percentage Of Fair Value Of Total Plan Assets) (Details)	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocation, percent	100%	100%
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets	54%
Actual plan asset allocation, percent	67%	71%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets	28%
Actual plan asset allocation, percent	25%	23%
Other Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets	18%
Actual plan asset allocation, percent	8%	6%
Long Island Electric Utility Servco LLC Pension and OPEB [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocation, percent	100%	100%
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets	60%
Actual plan asset allocation, percent	75%	76%
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets	25%
Actual plan asset allocation, percent	25%	24%
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Other Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation percentage of assets	15%

Pension, OPEB and Savings Pl_12

Pension, OPEB and Savings Plans (Estimated Future Benefit Payments) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Payments Expected Next Twelve Months	$ 424
Payments Expected Year Two	400
Payments Expected Year Three	405
Payments Expected Year Four	411
Payments Expected Year Five	418
Payments Expected Thereafter	2,124
Total Estimated Future Benefit Payments	4,182
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Payments Expected Next Twelve Months	77
Payments Expected Year Two	75
Payments Expected Year Three	74
Payments Expected Year Four	72
Payments Expected Year Five	70
Payments Expected Thereafter	309
Total Estimated Future Benefit Payments	677
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Payments Expected Next Twelve Months	12
Payments Expected Year Two	14
Payments Expected Year Three	17
Payments Expected Year Four	19
Payments Expected Year Five	22
Payments Expected Thereafter	149
Total Estimated Future Benefit Payments	233
Long Island Electric Utility Servco LLC Pension and OPEB [Member] | Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Payments Expected Next Twelve Months	10
Payments Expected Year Two	12
Payments Expected Year Three	14
Payments Expected Year Four	15
Payments Expected Year Five	17
Payments Expected Thereafter	112
Total Estimated Future Benefit Payments	$ 180

Pension, OPEB and Savings Pl_13

Pension, OPEB and Savings Plans (Schedule Of Amount Paid For Employer Matching Contributions) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Employer Matching Contributions	$ 42	$ 44	$ 43
Public Service Electric and Gas Company
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Employer Matching Contributions	28	28	27
Other [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Employer Matching Contributions	$ 14	$ 16	$ 16

Commitments And Contingent Li_3

Commitments And Contingent Liabilities (Face Value Of Outstanding Guarantees, Current Exposure And Margin Positions) (Detail) - PSEG Power LLC [Member] - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Face Value of Outstanding Guarantees	$ 1,601	$ 1,959
Exposure under Current Guarantees	198	176
Letters of Credit Margin Posted	87	80
Letters of Credit Margin Received	38	242
Counterparty Cash Margin Deposited	0	60
Counterparty Cash Margin Received	(1)	(1)
Net Broker Balance Deposited (Received)	1,522	785
Other Letters of Credit	$ 156	$ 67

Commitments And Contingent Li_4

Commitments And Contingent Liabilities (Environmental Matters) (Detail) $ in Millions	Dec. 31, 2022 USD ($) Plant mi	Dec. 31, 2021 USD ($)
Site Contingency [Line Items]
Percentage of residential gas supply permitted to be recovered in gas hedging by BPU	80%
Number of miles related to the Passaic River constituting a facility as determined by the US Environmental Protection Agency | mi	17
Number of legal entities contacted by EPA in conjunction with Newark Bay study area contamination	21
Accrued environmental costs	$ 231	$ 245
Public Service Electric and Gas Company
Site Contingency [Line Items]
Accrued environmental costs	173	191
Regulatory Assets	4,773	$ 3,969
MGP Remediation Site Contingency [Member] | Public Service Electric and Gas Company
Site Contingency [Line Items]
Remediation liability recorded as other current liabilities	35
Remediation liability recorded as environmental costs in noncurrent liabilities	171
Regulatory Assets	$ 206
PSE&G's Former MGP Sites [Member]
Site Contingency [Line Items]
Number of MGP sites identified by registrant and the NJDEP requiring some level of remedial action	38
Passaic River Site Contingency [Member]
Site Contingency [Line Items]
Estimated Cleanup Costs EPA Preferred Method	$ 2,300
Aggregate number of PRPs directed by the NJDEP to arrange for natural resource damage assessment and interim compensatory restoration along the lower Passaic River	56
Accrual for Environmental Loss Contingencies	$ 66
Passaic River Site Contingency [Member] | Public Service Electric and Gas Company
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 LLC [Member]
Site Contingency [Line Items]
Accrual for Environmental Loss Contingencies	13
Passaic River Site Upper 9 Miles
Site Contingency [Line Items]
Estimated Cleanup Costs EPA Preferred Method	550
Passaic River proposed settlement other PRPs	150
Minimum | MGP Remediation Site Contingency [Member] | Public Service Electric and Gas Company
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	206
Accrual for Environmental Loss Contingencies	206
Maximum [Member] | MGP Remediation Site Contingency [Member] | Public Service Electric and Gas Company
Site Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 226

Commitments And Contingent Li_5

Commitments And Contingent Liabilities (Basic Generation Service (BGS) And Basic Gas Supply Service (BGSS)) (Detail) cf in Billions	12 Months Ended
	Dec. 31, 2022 USD ($) cf $ / MWh $ / mwd MW
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%
Percentage of annual residential gas supply requirements to be hedged	50%
Number of cubic feet to be hedged | cf	70
ZEC Charge per kwh | $	$ 0.004
Public Service Electric and Gas Company
Long-term Purchase Commitment [Line Items]
ZEC Charge per kwh | $	$ 0.004
Public Service Electric and Gas Company | Auction Year 2019 [Member]
Long-term Purchase Commitment [Line Items]
$ per kWh | $ / mwd	330.72
Public Service Electric and Gas Company | Auction Year 2020 [Member]
Long-term Purchase Commitment [Line Items]
Load (MW) | MW	2,800
$ per kWh | $ / mwd	276.26
Dollars Per Megawatt Hour | $ / MWh	102.16
Public Service Electric and Gas Company | Auction Year 2021
Long-term Purchase Commitment [Line Items]
Load (MW) | MW	2,900
Dollars Per Megawatt Hour | $ / MWh	64.80
Public Service Electric and Gas Company | Auction Year 2022
Long-term Purchase Commitment [Line Items]
Load (MW) | MW	2,800
Dollars Per Megawatt Hour | $ / MWh	76.30
Public Service Electric and Gas Company | Auction Year 2023
Long-term Purchase Commitment [Line Items]
Load (MW) | MW	2,800
Dollars Per Megawatt Hour | $ / MWh	93.11

Commitments And Contingent Li_6

Commitments And Contingent Liabilities (Minimum Fuel Purchase Requirements) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Nuclear Fuel [Member]
Long-term Purchase Commitment [Line Items]
Total minimum purchase requirements	$ 390
Nuclear Fuel Enrichment [Member]
Long-term Purchase Commitment [Line Items]
Total minimum purchase requirements	327
Nuclear Fuel Fabrication [Member]
Long-term Purchase Commitment [Line Items]
Total minimum purchase requirements	189
Natural Gas [Member]
Long-term Purchase Commitment [Line Items]
Total minimum purchase requirements	$ 1,310
PSEG Power LLC [Member]
Long-term Purchase Commitment [Line Items]
Coverage percentage of nuclear fuel commitments of uranium, enrichment, and fabrication requirements	100%

Commitments And Contingent Li_7

Commitments And Contingent Liabilities (Regulatory Proceedings) (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Jan. 31, 2021
Maximum [Member] | Sewaren 7 Claim [Member]
Loss Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 93	$ 68

Commitments And Contingent Li_8

Commitments And Contingent Liabilities (Nuclear Insurance Coverages and Assessments) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Other Commitments [Line Items]
Maximum Aggregate Assessment Per Incident	$ 433
Maximum Aggregate Annual Assessment	65
Nuclear Insurance Aggregate Limit	3,200
Total Site Coverage for Nuclear Event [Member]
Other Commitments [Line Items]
Nuclear Liability Total	13,200
Total Site Coverage for Nuclear Event [Member] | American Nuclear Insurers [Member]
Other Commitments [Line Items]
Public And Nuclear Worker Liability Primary Layer	450
Retrospective Assessments [Member]
Other Commitments [Line Items]
Replacement Power Total	$ 46

Debt and Credit Facilties (Long

Debt and Credit Facilties (Long-Term Debt) (Details) - USD ($) $ in Millions		Dec. 31, 2022		Dec. 31, 2021
Debt Instrument [Line Items]
Long-term Debt		$ 18,186
Long-term Debt, Current Maturities		(1,575)		$ (700)
Total Long-Term Debt		16,495		15,219
PSEG [Member]
Debt Instrument [Line Items]
Long-term Debt		4,146		4,146
Long-term Debt, Current Maturities		(750)		(700)
Net Unamortized Discount and Debt Issuance Costs		(22)		(22)
Total Long-Term Debt		3,374		3,424
PSEG [Member] | Senior Notes Two Point Six Five Percent Due In Two Thousand Twenty Two [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 0		700
Stated interest rate of debt instrument		2.65%
PSEG [Member] | Senior Notes Two Point Eight Eight Percent Due In Two Thousand Twenty Four [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 750		750
Stated interest rate of debt instrument		2.88%
PSEG [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 4,146		4,146
PSEG [Member] | Senior Notes Zero Point Eight Zero Percent Due In Two Thousand Twenty Five
Debt Instrument [Line Items]
Long-term Debt		$ 550		550
Stated interest rate of debt instrument		0.80%
PSEG [Member] | Senior Notes One Point Six Zero Percent Due In Two Thousand Thirty
Debt Instrument [Line Items]
Long-term Debt		$ 550		550
Stated interest rate of debt instrument		1.60%
PSEG [Member] | Senior Notes Eight Point Six Two Five Percent Due In Two Thousand Thirty One
Debt Instrument [Line Items]
Long-term Debt		$ 96	[1]	96
Stated interest rate of debt instrument		8.63%
PSEG [Member] | Senior Notes Zero Point Eight Four Percent Due In Two Thousand Twenty Three
Debt Instrument [Line Items]
Long-term Debt		$ 750		750
Stated interest rate of debt instrument		0.84%
PSEG [Member] | Senior Notes Two Point Four Five Percent Due In Two Thousand Thirty One
Debt Instrument [Line Items]
Long-term Debt		$ 750		750
Stated interest rate of debt instrument		2.45%
PSEG [Member] | Senior Notes Five Point Eight Five Percent Due In Two Thousand Twenty Seven
Debt Instrument [Line Items]
Long-term Debt		$ 700		0
Stated interest rate of debt instrument		5.85%
PSEG Power LLC [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 1,250		0
Total Long-Term Debt		1,250		0
PSEG Power LLC [Member] | Senior Notes Three Point Eight Five Percent due Two Thousand Twenty Three [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 1,250		0
PSEG Power LLC [Member] | Senior Notes Eight Point Six Three Percent Due Two Thousand Thirty One [Member]
Debt Instrument [Line Items]
Stated interest rate of debt instrument		8.63%
Public Service Electric and Gas Company
Debt Instrument [Line Items]
Long-term Debt		$ 12,790		11,890
Long-term Debt, Current Maturities		(825)		0
Net Unamortized Discount and Debt Issuance Costs		(94)		(95)
Total Long-Term Debt		11,871		11,795
Public Service Electric and Gas Company | First And Refunding Mortgage Bonds Eight Point Zero Zero Percentage Due On Two Thirty Seven [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 7		7
Stated interest rate of debt instrument		8%
Public Service Electric and Gas Company | First And Refunding Mortgage Bonds Five Point Zero Zero Percentage Due On Two Thirty Seven [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 8		8
Stated interest rate of debt instrument		5%
Public Service Electric and Gas Company | First And Refunding Mortgage Bonds [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 15		15
Public Service Electric and Gas Company | Medium Term Notes Two Point Three Eight Percent Due In Two Thousand Twenty Three [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 500		500
Stated interest rate of debt instrument		2.38%
Public Service Electric and Gas Company | Medium Term Notes Three Point Two Five Percent due Two Thousand Twenty Three [Member]
Debt Instrument [Line Items]
Stated interest rate of debt instrument		3.25%
Debt Instrument, Face Amount	[2]	$ 325		325
Public Service Electric and Gas Company | Medium Term Notes Three Point Seven Five Percent Due In Two Thousand Twenty Four [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 250		250
Stated interest rate of debt instrument		3.75%
Public Service Electric and Gas Company | Medium Term Notes Three Point One Five Percent Due In Two Thousand Twenty Four [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 250		250
Stated interest rate of debt instrument		3.15%
Public Service Electric and Gas Company | Medium Term Notes Three Point Zero Five Percent Due In Two Thousand Twenty Four [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 250		250
Stated interest rate of debt instrument		3.05%
Public Service Electric and Gas Company | Medium Term Notes Three Point Zero Percent Due In Two Thousand Twenty Five [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 350		350
Stated interest rate of debt instrument		3%
Public Service Electric and Gas Company | Medium Term Notes Two Point Two Five Percent due Two Thousand Twenty Six [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 425		425
Stated interest rate of debt instrument		2.25%
Public Service Electric and Gas Company | Medium Term Notes Three Point Zero Percent due Two Thousand Twenty Seven [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 425		425
Stated interest rate of debt instrument		3%
Public Service Electric and Gas Company | Medium Term Notes Three Point Seven Zero Percent due Two Thousand Twenty Eight [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 375		375
Stated interest rate of debt instrument		3.70%
Public Service Electric and Gas Company | Medium Term Notes Three Point Six Five Percent due Two Thousand Twenty Eight [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 325		325
Stated interest rate of debt instrument		3.65%
Public Service Electric and Gas Company | Medium Term Notes Three Point Two Zero Percent due Two Thousand Twenty NIne [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 375		375
Stated interest rate of debt instrument		3.20%
Public Service Electric and Gas Company | Medium Term Notes Five Point Two Five Percentage Due On Two Thousand Thirty Five [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 250		250
Stated interest rate of debt instrument		5.25%
Public Service Electric and Gas Company | Medium Term Notes Five Point Seven Zero Percentage Due On Two Thousand Thirty Six [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 250		250
Stated interest rate of debt instrument		5.70%
Public Service Electric and Gas Company | Medium Term Notes Five Point Eight Zero Percentage Due On Two Thousand Thirty Seven [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 350		350
Stated interest rate of debt instrument		5.80%
Public Service Electric and Gas Company | Medium Term Notes Five Point Three Eight Percentage Due On Two Thousand Thirty Nine [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 250		250
Stated interest rate of debt instrument		5.38%
Public Service Electric and Gas Company | Medium Term Notes Five Point Five Zero Percentage Due On Two Thousand Forty [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 300		300
Stated interest rate of debt instrument		5.50%
Public Service Electric and Gas Company | Medium-Term Notes 3.95% Due On 2042 [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 450		450
Stated interest rate of debt instrument		3.95%
Public Service Electric and Gas Company | Medium-Term Notes 3.65% Due On 2042 [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 350		350
Stated interest rate of debt instrument		3.65%
Public Service Electric and Gas Company | Medium Term Notes Three Point Eight Zero Percent Due In Two Thousand Forty Three [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 400		400
Stated interest rate of debt instrument		3.80%
Public Service Electric and Gas Company | Medium Term Notes Four Point Zero Percent Due In Two Thousand Forty Four [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 250		250
Stated interest rate of debt instrument		4%
Public Service Electric and Gas Company | Medium Term Notes Four Point Zero Five Percent due Two Thousand Forty Five [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 250	[2]	250
Stated interest rate of debt instrument		4.05%
Public Service Electric and Gas Company | Medium Term Notes Four Point One Five Percent Due In Two Thousand Forty Five [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 250		250
Stated interest rate of debt instrument		4.15%
Public Service Electric and Gas Company | Medium Term Notes Three Point Eight Zero Percent due Two Thousand Forty Six [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 550		550
Stated interest rate of debt instrument		3.80%
Public Service Electric and Gas Company | Medium Term Notes Three Point Six Zero Percent due Two Thousand Forty Seven [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 350		350
Stated interest rate of debt instrument		3.60%
Public Service Electric and Gas Company | Medium Term Notes Four Point Zero Five Percent due Two Thousand Forty Eight [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 325		325
Stated interest rate of debt instrument		4.05%
Public Service Electric and Gas Company | Medium Term Notes Three Point Eight Five Percent due Two Thousand Forty Nine [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 375		375
Stated interest rate of debt instrument		3.85%
Public Service Electric and Gas Company | Medium Term Notes Three Point Two Zero Percent due Two Thousand Forty NIne [Member]
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 400		400
Stated interest rate of debt instrument		3.20%
Public Service Electric and Gas Company | Total Medium Term Notes [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 12,775		11,875
Public Service Electric and Gas Company | Medium Term Notes Two Point Four Five due Two Thousand Thirty
Debt Instrument [Line Items]
Long-term Debt		$ 300		300
Stated interest rate of debt instrument		2.45%
Public Service Electric and Gas Company | Medium Term Notes 3.15% due 2050
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 300		300
Stated interest rate of debt instrument		3.15%
Public Service Electric and Gas Company | Medium Term Notes 2.70% due 2050
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 375		375
Stated interest rate of debt instrument		2.70%
Public Service Electric and Gas Company | Medium Term Notes 2.05% due 2050
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 375		375
Stated interest rate of debt instrument		2.05%
Public Service Electric and Gas Company | Medium Term Notes Zero Point Nine Five Percent due Two Thousand Twenty Six
Debt Instrument [Line Items]
Long-term Debt		$ 450		450
Stated interest rate of debt instrument		0.95%
Public Service Electric and Gas Company | Medium Term Notes One Point Nine Zero due Two Thousand Thirty One
Debt Instrument [Line Items]
Long-term Debt		$ 425		425
Stated interest rate of debt instrument		1.90%
Public Service Electric and Gas Company | Medium Term Notes Three Point Zero due Two Thousand Fifty One
Debt Instrument [Line Items]
Long-term Debt	[2]	$ 450		450
Stated interest rate of debt instrument		3%
Public Service Electric and Gas Company | Medium Term Notes Green Bond Three Point One Zero due Two Thousand Thirty Two
Debt Instrument [Line Items]
Long-term Debt		$ 500		0
Stated interest rate of debt instrument		3.10%
Public Service Electric and Gas Company | Medium Term Notes Four Point Nine Zero due Two Thousand Thirty Two
Debt Instrument [Line Items]
Long-term Debt		$ 400		$ 0
Stated interest rate of debt instrument		4.90%
[1]In December 2020, PSEG issued $96 million principal amount of 8.63% Senior Notes due 2031 to holders of a like principal amount of 8.63% Senior Notes due 2031 originally issued by PSEG Power who validly tendered their notes pursuant to an offer to exchange. Upon consummation of the offer to exchange, the PSEG Power notes accepted in the exchange were cancelled. The transaction resulted in a non-cash financing activity for both PSEG and PSEG Power.[2]Secured by essentially all property of PSE&G pursuant to its First and Refunding Mortgage.

Debt and Credit Facilities (Lon

Debt and Credit Facilities (Long-Term Debt Maturities) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Repayments in Next Twelve Months	$ 1,575
Repayments in Year Two	1,500
Repayments in Year Three	2,150
Repayments in Year Four	875
Repayments in Year Five	1,125
Thereafter	10,961
Long-term Debt	18,186
Public Service Electric and Gas Company
Debt Instrument [Line Items]
Long-term Debt	12,790	$ 11,890
PSEG Power LLC [Member]
Debt Instrument [Line Items]
Long-term Debt	1,250	0
PSEG [Member]
Debt Instrument [Line Items]
Repayments in Next Twelve Months	750
Repayments in Year Two	750
Repayments in Year Three	550
Repayments in Year Four	0
Repayments in Year Five	700
Thereafter	1,396
Long-term Debt	4,146	$ 4,146
Public Service Electric and Gas Company
Debt Instrument [Line Items]
Repayments in Next Twelve Months	825
Repayments in Year Two	750
Repayments in Year Three	350
Repayments in Year Four	875
Repayments in Year Five	425
Thereafter	9,565
Long-term Debt	12,790
PSEG Power LLC [Member]
Debt Instrument [Line Items]
Repayments in Next Twelve Months	0
Repayments in Year Two	0
Repayments in Year Three	1,250
Repayments in Year Four	0
Repayments in Year Five	0
Thereafter	0
Long-term Debt	$ 1,250

Debt and Credit Facilities (L_2

Debt and Credit Facilities (Long-Term Debt Financing Transactions) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Commercial Paper		$ 2,200	$ 3,519
Issuance of Long-Term Debt		2,850	2,825	$ 2,450
Long-term Debt		18,186
Premium Paid on Early Extinguishment of Debt		0	294	0
PSEG [Member]
Debt Instrument [Line Items]
Long-term Debt		4,146	4,146
PSEG [Member] | Senior Notes Two Point Four Five Percent Due In Two Thousand Thirty One
Debt Instrument [Line Items]
Long-term Debt		$ 750	750
Stated interest rate of debt instrument		2.45%
PSEG [Member] | Senior Notes Zero Point Eight Four Percent Due In Two Thousand Twenty Three
Debt Instrument [Line Items]
Long-term Debt		$ 750	750
Stated interest rate of debt instrument		0.84%
PSEG [Member] | Senior Notes Two Point Six Five Percent Due In Two Thousand Twenty Two [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 0	700
Stated interest rate of debt instrument		2.65%
Repayments of Long-term Debt		$ 700
PSEG [Member] | Senior Notes Five Point Eight Five Percent Due In Two Thousand Twenty Seven
Debt Instrument [Line Items]
Issuance of Long-Term Debt		700
Long-term Debt		$ 700	0
Stated interest rate of debt instrument		5.85%
Public Service Electric and Gas Company
Debt Instrument [Line Items]
Issuance of Long-Term Debt		$ 900	1,325	$ 1,350
Long-term Debt		12,790	11,890
Public Service Electric and Gas Company | Medium Term Notes Three Point Zero due Two Thousand Fifty One
Debt Instrument [Line Items]
Long-term Debt	[1]	$ 450	450
Stated interest rate of debt instrument		3%
Public Service Electric and Gas Company | Medium Term Notes One Point Nine Zero due Two Thousand Thirty One
Debt Instrument [Line Items]
Long-term Debt		$ 425	425
Stated interest rate of debt instrument		1.90%
Public Service Electric and Gas Company | Medium Term Notes Green Bond Three Point One Zero due Two Thousand Thirty Two
Debt Instrument [Line Items]
Issuance of Long-Term Debt		$ 500
Long-term Debt		$ 500	0
Stated interest rate of debt instrument		3.10%
Public Service Electric and Gas Company | Medium Term Notes Four Point Nine Zero due Two Thousand Thirty Two
Debt Instrument [Line Items]
Issuance of Long-Term Debt		$ 400
Long-term Debt		$ 400	0
Stated interest rate of debt instrument		4.90%
PSEG Power LLC [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 1,250	0
PSEG Power LLC [Member] | Senior Notes Three Point Eight Five Percent due Two Thousand Twenty Three [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 1,250	$ 0
PSEG Power LLC [Member] | Senior Notes Eight Point Six Three Percent Due Two Thousand Thirty One [Member]
Debt Instrument [Line Items]
Stated interest rate of debt instrument		8.63%
PSEG Power LLC [Member] | Three Year Variable rate term loan
Debt Instrument [Line Items]
Issuance of Long-Term Debt		$ 1,250
[1]Secured by essentially all property of PSE&G pursuant to its First and Refunding Mortgage.

Debt and Credit Facilities (Sho

Debt and Credit Facilities (Short-Term Liquidity) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	[1]	$ 4,150
Line of Credit Facility, Amount Outstanding	[1],[2]	461
Available Liquidity	[1]	3,689
Commercial Paper and Loans		$ 2,200	$ 3,519
Commitments of single institution as percentage of total commitments		10%
Proceeds from Short-term Debt		$ 2,000	2,500	$ 800
Repayments of Short-term Debt		2,500	300	500
Issuance of Long-Term Debt		2,850	2,825	2,450
Collateral Already Posted, Aggregate Fair Value		1,521	844		$ 343
PSEG [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		1,500
Line of Credit Facility, Amount Outstanding	[2]	202
Available Liquidity		1,298
Public Service Electric and Gas Company
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		1,000
Line of Credit Facility, Amount Outstanding	[2]	18
Available Liquidity		982
Issuance of Long-Term Debt		900	1,325	$ 1,350
PSEG Power LLC [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		1,650
Line of Credit Facility, Amount Outstanding	[2]	241
Available Liquidity		1,409
Revolving Credit Facility [Member] | PSEG [Member]
Short-term Debt [Line Items]
Commercial Paper and Loans		$ 200
Short-term Debt, Weighted Average Interest Rate, at Point in Time		4.40%
Power credit facility
Short-term Debt [Line Items]
Proceeds from Short-term Debt		$ 700
Repayments of Short-term Debt		1,250
March 2021 Term Loan
Short-term Debt [Line Items]
Proceeds from Short-term Debt			500
Repayments of Short-term Debt		500
May 2021 Term Loan
Short-term Debt [Line Items]
Proceeds from Short-term Debt			750
Repayments of Short-term Debt		750
August 2021 Term Loan
Short-term Debt [Line Items]
Repayments of Short-term Debt		1,250
April 2022 Term Loan
Short-term Debt [Line Items]
Proceeds from Short-term Debt		1,500
Repayments of Short-term Debt		750
May 2022 Term Loan
Short-term Debt [Line Items]
Proceeds from Short-term Debt		500
Revolving Credit Facility [Member] | PSEG [Member]
Short-term Debt [Line Items]
Credit Facility Reduction		1,500
Line of Credit Facility, Maximum Borrowing Capacity	[3]	1,500
Line of Credit Facility, Amount Outstanding	[2],[3]	202
Available Liquidity	[3]	$ 1,298
Expiration Date		Mar 2027
Revolving Credit Facility [Member] | Public Service Electric and Gas Company
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	[3]	$ 1,000
Line of Credit Facility, Amount Outstanding	[2],[3]	18
Available Liquidity	[3]	$ 982
Expiration Date		Mar 2027
Revolving Credit Facility [Member] | PSEG Power LLC [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,250
Expiration Date		Mar 2027
Revolving Credit Facility [Member] | Parent and PSEG Power
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 2,750	$ 3,400
Letter of Credit Facilities expiring September 2022 | PSEG Power LLC [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	[3]	1,250
Line of Credit Facility, Amount Outstanding	[2],[3]	63
Available Liquidity	[3]	1,187
Letter of Credit Facilities expiring September 2024 | PSEG Power LLC [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		200
Letter of Credit Facilities expiring September 2023 | PSEG Power LLC [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Amount Outstanding	[2]	120
Available Liquidity		$ 80
Expiration Date		Sept 2024
Letter of Credit Facilities expiring April 2024 | PSEG Power LLC [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 100
Line of Credit Facility, Amount Outstanding	[2]	32
Available Liquidity		$ 68
Expiration Date		Apr 2024
Letter of Credit Facilities expiring April 2025 | PSEG Power LLC [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 100
Line of Credit Facility, Amount Outstanding	[2]	26
Available Liquidity		$ 74
Expiration Date		Apr 2025
Uncommitted Letter of Credit Facility | PSEG Power LLC [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 200
[1]Amounts do not include uncommitted credit facilities.[2]The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs, under which as of December 31, 2022, PSEG had $200 million outstanding at a weighted average interest rate of 4.4%. PSE&G had no Commercial Paper outstanding as of December 31, 2022.[3]Master Credit Facility with sub-limits of $1.5 billion for PSEG and $1.25 billion for PSEG Power.

Debt and Credit Facilities (Fai

Debt and Credit Facilities (Fair Value of Debt) (Details) - USD ($) $ in Millions		Dec. 31, 2022		Dec. 31, 2021
Debt Instrument [Line Items]
Long-term Debt		$ 18,186
Long-term Debt, Carrying Value		18,070		$ 15,919
Long-term Debt, Fair Value	[1]	16,164		17,546
PSEG [Member]
Debt Instrument [Line Items]
Long-term Debt		4,146		4,146
Long-term Debt, Carrying Value	[1]	4,124		4,124
Long-term Debt, Fair Value	[1]	3,808		4,172
Public Service Electric and Gas Company
Debt Instrument [Line Items]
Long-term Debt		12,790		11,890
Long-term Debt, Carrying Value	[1]	12,696		11,795
Long-term Debt, Fair Value	[1]	11,106		13,374
PSEG Power LLC [Member]
Debt Instrument [Line Items]
Long-term Debt		1,250		0
Long-term Debt, Carrying Value		1,250	[2]	0
Long-term Debt, Fair Value		$ 1,250	[2]	$ 0
[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)

Schedule Of Consolidated Capi_3

Schedule Of Consolidated Capital Stock (Consolidated Capital Stock) (Details) - USD ($) $ / shares in Units, $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common Stock, authorized		1,000,000,000	1,000,000,000
Common Stock, Shares, outstanding		497,000,000	504,000,000	[1]
Common Stock, Value, Outstanding	[1]	$ 3,688	$ 4,149
Common Stock		$ 5,065	$ 5,045
Public Service Electric and Gas Company
Class of Stock [Line Items]
Common Stock, authorized		150,000,000	150,000,000
Common Stock		$ 892	$ 892
Public Service Electric and Gas Company | Preferred Stock [Member]
Class of Stock [Line Items]
Common Stock, authorized		7,500,000
Preferred stock, par value		$ 100
Public Service Electric and Gas Company | Cumulative Preferred Stock [Member]
Class of Stock [Line Items]
Common Stock, authorized		10,000,000
Preferred stock, par value		$ 25
[1]PSEG did not issue any new shares under the Dividend Reinvestment and Stock Purchase Plan or the Employee Stock Purchase Plan (ESPP) in 2022 or 2021.

Financial Risk Management Act_3

Financial Risk Management Activities (Narrative) (Detail) $ / Derivative in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2022 $ / Derivative	Dec. 31, 2022 USD ($) $ / Derivative	Dec. 31, 2021 USD ($) $ / Derivative	Dec. 31, 2020 USD ($)
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Net		$ (124)	$ 66
Credit Risk Derivative Liabilities, at Fair Value		190	75
Aggregate fair value of derivative contracts in a liability position that contains triggers for additional collateral		41	29
Additional collateral aggregate fair value		149	46
Loss on physical load sales		38
Proceeds from Short-term Debt		2,000	2,500	$ 800
Long-term Debt		18,186
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax		(3)	(6)
PSEG [Member]
Derivatives, Fair Value [Line Items]
Long-term Debt		4,146	4,146
PSEG Power LLC [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Net		(125)
Long-term Debt		1,250	0
Senior Notes Three Point Eight Five Percent due Two Thousand Twenty Three [Member] | PSEG Power LLC [Member]
Derivatives, Fair Value [Line Items]
Long-term Debt		1,250	0
Senior Notes Five Point Eight Five Percent Due In Two Thousand Twenty Seven | PSEG [Member]
Derivatives, Fair Value [Line Items]
Long-term Debt		700	$ 0
May 2022 Term Loan
Derivatives, Fair Value [Line Items]
Proceeds from Short-term Debt		500
Short-Term Bank Loans and Notes Payable		$ 500
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Underlying, Derivative | $ / Derivative		1,050	0
Treasury Lock
Derivatives, Fair Value [Line Items]
Underlying, Derivative | $ / Derivative	350

Financial Risk Management Act_4

Financial Risk Management Activities (Schedule Of Derivative Instruments Fair Value In Balance Sheets) (Detail) - USD ($) $ in Millions		Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Net Cash Collateral/Margin Postings to Counterparties		$ 1,521	$ 343	$ 844
Derivative Contracts, Current Assets		18		72
Derivative Contracts, Noncurrent Assets		15		28
Total Mark-to-Market Derivative Assets		33		100
Derivative Contracts, Current Liabilities		(124)		(17)
Derivative Contracts, Noncurrent Liabilities		(33)		(17)
Total Mark-to-Market Derivative (Liabilities)		(157)		(34)
Net Mark-to-Market Derivative Assets (Liabilities)		(124)		66
PSEG Power LLC [Member]
Derivatives, Fair Value [Line Items]
Derivative Contracts, Current Assets		14
Derivative Contracts, Noncurrent Assets		15
Total Mark-to-Market Derivative Assets		29
Derivative Contracts, Current Liabilities		(124)
Derivative Contracts, Noncurrent Liabilities		(30)
Total Mark-to-Market Derivative (Liabilities)		(154)
Net Mark-to-Market Derivative Assets (Liabilities)		(125)
Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net				(30)
Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net		616
Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net		495		335
Interest Rate Swaps [Member] | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Contracts, Current Assets		4
Derivative Contracts, Noncurrent Assets		0
Total Mark-to-Market Derivative Assets		4
Derivative Contracts, Current Liabilities		0
Derivative Contracts, Noncurrent Liabilities		(3)
Total Mark-to-Market Derivative (Liabilities)		(3)
Net Mark-to-Market Derivative Assets (Liabilities)		1
Energy-Related Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	1,111		615
Energy-Related Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Contracts, Current Assets		1,721		816
Derivative Contracts, Noncurrent Assets		629		546
Total Mark-to-Market Derivative Assets		2,350		1,362
Derivative Contracts, Current Liabilities		(2,447)		(1,055)
Derivative Contracts, Noncurrent Liabilities		(1,139)		(856)
Total Mark-to-Market Derivative (Liabilities)		(3,586)		(1,911)
Net Mark-to-Market Derivative Assets (Liabilities)		(1,236)		(549)
Energy-Related Contracts [Member] | Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	(1,707)		(744)
Energy-Related Contracts [Member] | Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	2,323		1,038
Energy-Related Contracts [Member] | Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	1,109		839
Energy-Related Contracts [Member] | Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	(614)		(518)
Energy-Related Contracts [Member] | Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1],[2]	(2,321)		(1,262)
Energy-Related Contracts [Member] | Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1],[2]	$ 3,432		$ 1,877
[1]Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of cash collateral. All cash collateral (received) posted that has been allocated to derivative positions, where the right of offset exists, has been offset on the Consolidated Balance Sheets. As of December 31, 2022 and 2021, PSEG Power had net cash collateral payments to counterparties of $1,521 million and $844 million, respectively. Of these net cash collateral (receipts) payments, $1,111 million as of December 31, 2022 and $615 million as of December 31, 2021 were netted against the corresponding net derivative contract positions. Of the $1,111 million as of December 31, 2022, $616 million was netted against current liabilities and $495 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 non-current assets, $323 million was netted against current liabilities and $335 million was netted against noncurrent liabilities.[2]Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. See Note 18. Financial Risk Management Activities for additional detail.

Financial Risk Management Act_5

Financial Risk Management Activities (Schedule Of Derivative Instruments Designated As Cash Flow Hedges) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Pre-Tax Gain (Loss) attributed to Cash Flow Hedges Recognized in AOCI on Derivatives (Effective Portion)	$ 0	$ 0	$ (6)
Amount of Pre-Tax Loss Reclassified from AOCL into Income, Effective Portion	(5)	(4)	(14)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	30	11	(4)
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Pre-Tax Gain (Loss) attributed to Cash Flow Hedges Recognized in AOCI on Derivatives (Effective Portion)	0	0	(6)
Amount of Pre-Tax Loss Reclassified from AOCL into Income, Effective Portion	(5)	(4)	(14)
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	3	3	10
Cash Flow Hedges | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	$ 3	$ 3	$ 10

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	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Gain (Loss) Recognized in AOCI, After-Tax	$ (230)	$ 143	$ (11)
Less: Loss Reclassified to Income, After-Tax	30	11	(4)
Pre-Tax Amount	(49)	(15)	12
Cash Flow Hedges
Derivative [Line Items]
Balance as of Beginning of Year	(9)	(13)
Balance as of End of Year	(4)	(9)	(13)
Balance as of Beginning of Year	(6)	(9)
Gain (Loss) Recognized in AOCI, After-Tax	0	0	(4)
Less: Loss Reclassified to Income, After-Tax	3	3	10
Balance as of End of Year	(3)	(6)	(9)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	0	0
Pre-Tax Amount	$ (5)	$ (4)	$ (14)

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) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Pre-Tax Gain (Loss) Recognized in Income on Derivatives	$ (1,746)	$ (867)	$ 137
Operating Revenues [Member] | Energy-Related Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Pre-Tax Gain (Loss) Recognized in Income on Derivatives	(1,748)	(993)	279
Energy Costs [Member] | Energy-Related Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Pre-Tax Gain (Loss) Recognized in Income on Derivatives	$ 2	$ 126	$ (142)

Financial Risk Management Act_8

Financial Risk Management Activities (Schedule Of Gross Volume, On Absolute Basis For Derivative Contracts) (Detail) $ / mwh in Millions, $ / Derivative in Millions, $ / DTH in Millions	12 Months Ended
	Dec. 31, 2022 $ / Derivative $ / mwh $ / DTH	Dec. 31, 2021 $ / mwh $ / DTH $ / Derivative
Natural Gas Dth [Member]
Derivative [Line Items]
Gross volume of derivative on absolute value basis | $ / DTH	49	47
Electricity MWh [Member]
Derivative [Line Items]
Gross volume of derivative on absolute value basis	(60)	(76)
FTRs MWh [Member]
Derivative [Line Items]
Gross volume of derivative on absolute value basis	24	27
Interest Rate Swaps [Member]
Derivative [Line Items]
Gross volume of derivative on absolute value basis | $ / Derivative	1,050	0

Financial Risk Management Act_9

Financial Risk Management Activities (Schedule Providing Credit Risk From Others, Net Of Collateral) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Investment Grade External Rating [Member]
Derivative [Line Items]
Credit exposure, percentage	100%
Public Service Electric and Gas Company
Derivative [Line Items]
Current Exposure	$ 102

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		Dec. 31, 2022		Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral Already Posted, Aggregate Fair Value		$ 1,521		$ 343	$ 844
Total Mark-to-Market Derivative Assets		33			100
Total Mark-to-Market Derivative (Liabilities)		(157)			(34)
Cash and foreign currency excluded from Fair Value		2			2
Quoted Market Prices for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	[1]	385			615
Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	[1]	165			250
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	[1]	0			0
Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	[1]	0			0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	[1]	0			0
Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	[1]	0			0
Interest Rate Swaps [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Mark-to-Market Derivative Assets	[2]	0
Interest Rate Swaps [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	[2]	(4)
Total Mark-to-Market Derivative (Liabilities)	[2]	(3)
Interest Rate Swaps [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 (Liabilities)	[2]	0
Energy-Related Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[3]	1,111			615
Energy-Related Contracts [Member] | Quoted Market Prices for 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]	42			25
Total Mark-to-Market Derivative (Liabilities)	[4]	(3)			(26)
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]	2,307			1,336
Total Mark-to-Market Derivative (Liabilities)	[4]	(3,537)			(1,880)
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)	[4]	(46)			(5)
Cash and Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5]	0			0
Cash and Cash Equivalents [Member] | Public Service Electric and Gas Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net		0	[5]		0
Assets [Member] | Energy-Related Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[3],[5]	(2,321)			(1,262)
Other Liabilities [Member] | Energy-Related Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[3],[5]	3,432			1,877
Other Assets | Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[2]	0
Total Estimate Of Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	[1]	385			615
Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents	[1]	165			250
Total Estimate Of Fair Value [Member] | Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Mark-to-Market Derivative Assets	[2]	(4)
Total Mark-to-Market Derivative (Liabilities)	[2]	(3)
Total Estimate Of Fair Value [Member] | Energy-Related Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Mark-to-Market Derivative Assets	[4]	29			100
Total Mark-to-Market Derivative (Liabilities)	[4]	(154)			(34)
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
Cash and foreign currency excluded from Fair Value		2			2
Nuclear Decommissioning Trust (NDT) Fund [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Cost		812			837
Nuclear Decommissioning Trust (NDT) Fund [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Domestic Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost		476			491
Nuclear Decommissioning Trust (NDT) Fund [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	1,072			1,301
Nuclear Decommissioning Trust (NDT) Fund [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Other Observable Inputs (Level 2) [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	339			373
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Other Observable Inputs (Level 2) [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	288			314
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	529			647
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Unobservable Inputs (Level 3) [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Unobservable Inputs (Level 3) [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Nuclear Decommissioning Trust (NDT) Fund [Member] | Total Estimate Of Fair Value [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	1,072			1,301
Nuclear Decommissioning Trust (NDT) Fund [Member] | Total Estimate Of Fair Value [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	339			373
Nuclear Decommissioning Trust (NDT) Fund [Member] | Total Estimate Of Fair Value [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	288			314
Nuclear Decommissioning Trust (NDT) Fund [Member] | Total Estimate Of Fair Value [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	529			647
Rabbi Trust [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Rabbi Trust [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Rabbi Trust [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Rabbi Trust [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Rabbi Trust [Member] | Domestic Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost		14			14
Rabbi Trust [Member] | Public Service Electric and Gas Company | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Rabbi Trust [Member] | Public Service Electric and Gas Company | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Rabbi Trust [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Rabbi Trust [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value, Amount Offset Against Collateral, Net	[5],[6]	0			0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	20			26
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	3			5
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Quoted Market Prices for Identical Assets (Level 1) [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	32			34
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	57			73
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	74			109
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	6			6
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	10			13
Rabbi Trust [Member] | Significant Other Observable Inputs (Level 2) [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	13			19
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Significant Unobservable Inputs (Level 3) [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	0			0
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	20			26
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	32			34
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	57			73
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	74			109
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	3			5
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company | Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	6			6
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company | US Treasury Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	10			13
Rabbi Trust [Member] | Total Estimate Of Fair Value [Member] | Public Service Electric and Gas Company | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measured on Recurring Basis, Investments	[6]	$ 13			$ 19
[1]Represents money market mutual funds.[2] Interest rate swaps are valued using quoted prices on commonly quoted intervals, which are interpolated for periods different than the quoted intervals, as inputs to a market valuation model. Market inputs can generally be verified and model selection does not involve significant management judgement . 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. 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) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net Assets Measured At Fair Value On A Recurring Basis	$ 2,700	$ 3,600
Net Assets Measured At Fair Value On A Recurring Basis Measured Using Unobservable Input And Classified As Level3	$ 45	$ 4

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Net Assets Measured At Fair Value On A Recurring Basis	$ 2,700	$ 3,600
Net Assets Measured At Fair Value On A Recurring Basis Measured Using Unobservable Input And Classified As Level3	$ 45	$ 4

Stock Based Compensation (Accru

Stock Based Compensation (Accrual Adjustments) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Compensation Costs included in O&M Expense	$ 29	$ 28	$ 35
Income Tax Benefit Recognized in Consolidated Statement of Operations	$ 8	$ 8	$ 10

Stock Based Compensation (Restr

Stock Based Compensation (Restricted Stock Units Activity) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares, Outstanding at Beginning of Year	179,831
Shares, Granted	265,359
Shares, Vested	(220,825)
Shares, Canceled	(8,125)
Shares, Outstanding at End of Year	216,240	179,831
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Shares, Outstanding at Beginning of Year, Weighted Average Grant Date Fair Value	$ 57.83
Shares, Granted, Weighted Average Grant Date Fair Value	64.44	$ 58.02	$ 58.85
Shares, Vested, Weighted Average Grant Date Fair Value	62.54
Shares, Canceled, Weighted Average Grant Date Fair Value	60.85
Shares, Outstanding at End of Year, Weighted Average Grant Date Fair Value	$ 61.02	$ 57.83
Shares, Outstanding at End of Year, Weighted Average Remaining Years Contractual Term	1 year 2 months 12 days
Shares, Outstanding at End of Year, Aggregate Intrinsic Value	$ 13,249,024

Stock Based Compensation (Perfo

Stock Based Compensation (Performance Units Information) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Performance Share Risk Free Rate Assumption	1.76%	0.22%	1.36%
Performance Share Volatility Rate Assumption	27.34%	27.31%	15%
Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period for recognizing unrecognized compensation cost	1 year 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares, Outstanding at Beginning of Year	476,354
Shares, Granted	433,860
Shares, Vested	(467,510)
Shares, Canceled	(45,694)
Shares, Outstanding at End of Year	397,010	476,354
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Shares, Outstanding at Beginning of Year, Weighted Average Grant Date Fair Value	$ 59.76
Shares, Granted, Weighted Average Grant Date Fair Value	68.90	$ 65.57	$ 51.79
Shares, Vested, Weighted Average Grant Date Fair Value	61.31
Shares, Cancelled, Weighted Average Grant Date Fair Value	62.08
Shares, Outstanding at End of Year, Weighted Average Grant Date Fair Value	$ 67.65	$ 59.76
Shares, Outstanding at End of Year, Weighted Average Remaining Years Contractual Term	1 year 8 months 12 days
Shares, Outstanding at End of Year, Aggregate Intrinsic Value	$ 24,324,782
Performance Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Options vesting period	3 years

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other Tax Expense (Benefit)	$ 2	$ 2	$ 2
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	8,000,000
Percentage Of Fair Market Value Being Expected Purchase Price Of Employee Stock Purchase Plan	95%
Minimum Holding Period for Stock Purchased through Employee Stock Purchase Plan	3 months
Percentage Of Fair Market Value Being Expected Purchase Price Of Employee Stock Purchase Plan Non Represented	90%
Maximum Percentage Limit Of Base Pay For Employees For Purchasing Shares	10%
Employee Stock Ownership Plan (ESOP), Compensation Expense	$ 2	$ 2	$ 1
Shares issued under employee stock purchase plan	321,429	326,634	373,682
Shares issued under employee purchase plan, Average price per share	$ 57.72	$ 56.87	$ 47.26
Performance Share Risk Free Rate Assumption	1.76%	0.22%	1.36%
Performance Share Volatility Rate Assumption	27.34%	27.31%	15%
Compensation Costs included in O&M Expense	$ 29	$ 28	$ 35
Various [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	7,000,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of granted shares	$ 64.44	$ 58.02	$ 58.85
Unrecognized compensation cost related to stock options expected to be recognized	$ 6
Weighted average period for recognizing unrecognized compensation cost	1 year 1 month 6 days
Total intrinsic value of restricted stock units vested	$ 19	$ 17	$ 11
Dividend equivalents accrued on stock units	26,904
Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of granted shares	$ 68.90	$ 65.57	$ 51.79
Total intrinsic value of performance units vested	$ 18	$ 28	$ 19
Unrecognized compensation cost related to stock options expected to be recognized	$ 27
Weighted average period for recognizing unrecognized compensation cost	1 year 8 months 12 days
Dividend equivalents accrued on stock units	41,862
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	100%
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,600,000
Outside Directors Stock Compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation Costs included in O&M Expense	$ 2
Minimum | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	1 year
Minimum | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period	3 years
Minimum | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	0%
Maximum [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Maximum [Member] | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	200%

Other Income And Deductions (Sc

Other Income And Deductions (Schedule Of Other Income) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Component of Other Income [Line Items]
Investment Income, Interest and Dividend	$ 62		$ 59		$ 52
Components of Other Income [Roll Forward]
Allowance for Funds Used During Construction	65		71		87
Solar Loan Interest	10		13		15
Donations	(1)		(22)		(3)
Purchase of Tax Losses	(27)		(19)		(36)
Other	15		(4)		0
Total Other Income and Deductions	124		98		115
Public Service Electric and Gas Company
Component of Other Income [Line Items]
Investment Income, Interest and Dividend	0		0		0
Components of Other Income [Roll Forward]
Allowance for Funds Used During Construction	65		71		87
Solar Loan Interest	10		13		15
Donations	0		(1)		0
Purchase of Tax Losses	0		0		0
Other	13		5		6
Total Other Income and Deductions	88		88		108
PSEG Power & Other
Component of Other Income [Line Items]
Investment Income, Interest and Dividend	62		59		52
Components of Other Income [Roll Forward]
Allowance for Funds Used During Construction	0		0		0
Solar Loan Interest	0		0		0
Donations	(1)		(21)		(3)
Purchase of Tax Losses	(27)		(19)		(36)
Other	2		(9)		(6)
Total Other Income and Deductions	$ 36	[1]	$ 10	[1]	$ 7
[1]PSEG Power & Other consists of activity at PSEG Power, Energy Holdings, PSEG LI, Services, PSEG (as parent company) and intercompany eliminations.

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of Reported Income Tax Expense) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Net Income (Loss)	[1]	$ 1,031	$ (648)	$ 1,905
Federal		262	407	385
State		(30)	(3)	48
Total Current		232	404	433
Federal		(335)	(700)	(164)
State		80	(136)	141
Total Deferred		(255)	(836)	(23)
Investment tax credit		(6)	(9)	(14)
Total Income Tax		(29)	(441)	396
Pre-Tax Income		1,002	(1,089)	2,301
Tax Computed at Statutory Rate		210	(229)	483
State Income Taxes (net of federal income tax)		41	(109)	147
Uncertain Tax Positions		(22)	19	3
Nuclear Decommissioning Trust		(22)	23	32
Plant-Related Items		(6)	(7)	(9)
Effective Income Tax Rate Reconciliation, Tax Credit adjustment			29
Tax Credits		(10)		(18)
Effective Income Tax Rate Reconciliation, Tax Settlement, Domestic, Amount		0	(8)	(27)
Effective Income Tax Rate Reconciliation, Leasing Activities, Amount		0	(1)	(35)
Effective Income Tax Rate Reconciliation, GPRC		(37)	(13)	0
Tax Adjustment Credit		(193)	(171)	(205)
Effective Income Tax Rate Reconciliation, Bad Debt Flow Through, Amount		(1)	27	28
Other		11	(1)	(3)
Sub-Total		(239)	(212)	(87)
Income Tax Provision		$ (29)	$ (441)	$ 396
Effective income tax rate		(2.90%)	40.50%	17.20%
Public Service Electric and Gas Company
Income Taxes [Line Items]
Net Income (Loss)		$ 1,565	$ 1,446	$ 1,327
Federal		130	208	179
State		0	1	8
Total Current		130	209	187
Federal		(17)	(33)	(71)
State		159	153	128
Total Deferred		142	120	57
Investment tax credit		(5)	(5)	(4)
Total Income Tax		267	324	240
Pre-Tax Income		1,832	1,770	1,567
Tax Computed at Statutory Rate		385	372	329
State Income Taxes (net of federal income tax)		126	122	106
Uncertain Tax Positions		2	2	4
Plant-Related Items		(6)	(7)	(9)
Tax Credits		(9)	(8)	(9)
Effective Income Tax Rate Reconciliation, Tax Settlement, Domestic, Amount		0	(1)	(2)
Effective Income Tax Rate Reconciliation, GPRC		(37)	(13)	0
Tax Adjustment Credit		(193)	(171)	(205)
Effective Income Tax Rate Reconciliation, Bad Debt Flow Through, Amount		(1)	27	28
Other		0	1	(2)
Sub-Total		(118)	(48)	(89)
Income Tax Provision		$ 267	$ 324	$ 240
Effective income tax rate		14.60%	18.30%	15.30%
[1]Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.

Income Taxes (Deferred Income T

Income Taxes (Deferred Income Tax) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Regulatory Liability Excess Deferred Tax	$ 390	$ 439
OPEB	74	107
Deferred Tax Asset, Bad Debt	66	67
Deferred Tax Asset, Uncertain Tax Positions	1	30
Deferred Tax Asset, Operating Leases	42	48
Other	378	253
Total Noncurrent Assets	951	944
Plant-Related Items	4,663	4,701
New Jersey Corporate Business Tax	1,009	939
Leasing Activities	99	113
Pension Costs	164	169
Deferred Tax Liabilities, Operating Leases	37	43
AROs and NDT Fund	161	270
Taxes Recoverable Through Future Rate (net)	149	120
Deferred Tax Liabilities, Other	324	271
Total Noncurrent Liabilities	6,606	6,626
Net Noncurrent Deferred Income Tax Liabilities	5,655	5,682
Accumulated Deferred Investment Tax Credit	70	77
Net Total Noncurrent Deferred Income Taxes and ITC	5,725	5,759
Public Service Electric and Gas Company
Income Taxes [Line Items]
Regulatory Liability Excess Deferred Tax	390	439
OPEB	42	61
Deferred Tax Asset, Bad Debt	66	67
Deferred Tax Asset, Uncertain Tax Positions	3	0
Deferred Tax Asset, Operating Leases	19	20
Other	53	57
Total Noncurrent Assets	573	644
Plant-Related Items	4,174	4,006
New Jersey Corporate Business Tax	1,011	863
Conservation Costs	81	75
Pension Costs	195	180
Deferred Tax Liabilities, Operating Leases	18	19
Deferred Tax Liabilities, Uncertain Tax Positions	0	1
Taxes Recoverable Through Future Rate (net)	149	120
Deferred Tax Liabilities, Other	223	178
Total Noncurrent Liabilities	5,851	5,442
Net Noncurrent Deferred Income Tax Liabilities	5,278	4,798
Accumulated Deferred Investment Tax Credit	70	76
Net Total Noncurrent Deferred Income Taxes and ITC	$ 5,348	$ 4,874

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Federal income tax rate	21%
Regulatory Liabilities	$ 2,240	$ 2,497
NOL Carryforwards	60
Tax Adjustment Credit	(193)	(171)	$ (205)
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	28	0	116
Public Service Electric and Gas Company
Income Taxes [Line Items]
Regulatory Liabilities	2,240	2,497
NOL Carryforwards	29
Excess deferred income tax flowback	269
Tax Adjustment Credit	(193)	(171)	(205)
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	0	$ 0	$ 64
Excess Deferred Income Taxes excluding amounts from previously realized repair deductions [Member] | Public Service Electric and Gas Company
Income Taxes [Line Items]
Reduction in Regulatory Liability	234
Reduction in Deferred Tax Liabilities	1,500
Regulatory Liabilities	$ 2,000

Income Taxes (Unrecognized Tax

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Total Amount of Unrecognized Tax Benefits at January	$ 192	$ 147	$ 321
Increases as a Result of Positions Taken in a Prior Period	9	58	33
Decreases as a Result of Positions Taken in a Prior Period	(40)	(19)	(91)
Increases as a Result of Positions Taken during the Current Period	1	6	0
Decreases as a Result of Positions Taken during the Current Period	0	0	0
Decreases as a Result of Settlements with Taxing Authorities	(28)	0	(116)
Decreases due to Lapses of Applicable Statute of Limitations	(4)	0	0
Total Amount of Unrecognized Tax Benefits at December	130	192	147
Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits	(37)	(76)	(69)
Regulatory Asset-Unrecognized Tax Benefits	(8)	(7)	(15)
Amount of unrecognized tax benefits that would affect the effective tax rate	85	109	63
Public Service Electric and Gas Company
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Total Amount of Unrecognized Tax Benefits at January	27	30	124
Increases as a Result of Positions Taken in a Prior Period	2	8	21
Decreases as a Result of Positions Taken in a Prior Period	(2)	(12)	(51)
Increases as a Result of Positions Taken during the Current Period	1	1	0
Decreases as a Result of Positions Taken during the Current Period	0	0	0
Decreases as a Result of Settlements with Taxing Authorities	0	0	(64)
Decreases due to Lapses of Applicable Statute of Limitations		0	0
Increases due to Lapses of Applicable Statute of Limitations	1
Total Amount of Unrecognized Tax Benefits at December	29	27	30
Accumulated Deferred Income Taxes Associated with Unrecognized Tax Benefits	(15)	(15)	(12)
Regulatory Asset-Unrecognized Tax Benefits	(8)	(7)	(15)
Amount of unrecognized tax benefits that would affect the effective tax rate	$ 6	$ 5	$ 3

Income Taxes (Interest And Pena

Income Taxes (Interest And Penalties Related To Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Accumulated Interest and Penalties on Uncertain Tax Positions	$ 38	$ 31	$ 29
Public Service Electric and Gas Company
Income Taxes [Line Items]
Accumulated Interest and Penalties on Uncertain Tax Positions	$ 8	$ 9	$ 9

Income Taxes (Possible Decrease

Income Taxes (Possible Decrease In Total Unrecognized Tax Benefits Including Interest) (Details) $ in Millions	Dec. 31, 2022 USD ($)
Income Taxes [Line Items]
Possible Decrease in Total Unrecognized Tax Benefits including Interest in next twelve months	$ 12
Public Service Electric and Gas Company
Income Taxes [Line Items]
Possible Decrease in Total Unrecognized Tax Benefits including Interest in next twelve months	$ 11

Income Taxes (Description Of In

Income Taxes (Description Of Income Tax Years By Material Jurisdictions) (Details)	12 Months Ended
	Dec. 31, 2022
Federal [Member] | PSEG [Member]
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	2019-2021
Federal [Member] | Public Service Electric and Gas Company
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	N/A
NEW JERSEY | PSEG [Member]
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	2011-2021
NEW JERSEY | Public Service Electric and Gas Company
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	2011-2021
PENNSYLVANIA | PSEG [Member]
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	2017-2021
PENNSYLVANIA | Public Service Electric and Gas Company
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	2019-2021
CONNECTICUT | PSEG [Member]
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	2019-2021
CONNECTICUT | Public Service Electric and Gas Company
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	N/A
MARYLAND | PSEG [Member]
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	2019-2021
MARYLAND | Public Service Electric and Gas Company
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	N/A
NEW YORK | PSEG [Member]
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	2017-2021
NEW YORK | Public Service Electric and Gas Company
Income Taxes [Line Items]
Income Tax Year Subject to Examination by Material Jurisdictions	N/A

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated Other Comprehensive Income (Loss), Net of Tax (Changes in AOCI) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (350)	$ (504)	$ (489)
Other Comprehensive Income (Loss) before Reclassifications	(230)	143	(11)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	30	11	(4)
Net Current Period Other Comprehensive Income (Loss)	(200)	154	(15)
Ending Balance	(550)	(350)	(504)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(6)	(9)	(15)
Other Comprehensive Income (Loss) before Reclassifications	0	0	(4)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	3	3	10
Net Current Period Other Comprehensive Income (Loss)	3	3	6
Ending Balance	(3)	(6)	(9)
Pension and OPEB Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(355)	(545)	(499)
Other Comprehensive Income (Loss) before Reclassifications	(72)	176	(58)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	1	14	12
Net Current Period Other Comprehensive Income (Loss)	(71)	190	(46)
Ending Balance	(426)	(355)	(545)
Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	11	50	25
Other Comprehensive Income (Loss) before Reclassifications	(158)	(33)	51
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	26	(6)	(26)
Net Current Period Other Comprehensive Income (Loss)	(132)	(39)	25
Ending Balance	$ (121)	$ 11	$ 50

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated Other Comprehensive Income (Loss), Net of Tax (Reclassifications out of AOCI) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax Amount	$ (49)	$ (15)	$ 12
Tax (Expense) Benefit	19	(4)	8
After-Tax Amount	(30)	(11)	4
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax Amount	(5)	(4)	(14)
Tax (Expense) Benefit	2	(1)	(4)
After-Tax Amount	(3)	(3)	(10)
Pension and OPEB Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax Amount	(1)	(20)	(16)
Tax (Expense) Benefit	0	(6)	(4)
After-Tax Amount	(1)	(14)	(12)
Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax Amount	(43)	9	42
Tax (Expense) Benefit	17	3	16
After-Tax Amount	(26)	6	26
Interest Expense | Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax Amount	(5)	(4)	(14)
Tax (Expense) Benefit	2	(1)	(4)
After-Tax Amount	(3)	(3)	(10)
Amortization of Prior Service (Cost) Credit | Pension and OPEB Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax Amount	21	(21)	(24)
Tax (Expense) Benefit	(6)	(6)	(7)
After-Tax Amount	15	(15)	(17)
Amortization of Actuarial Loss | Pension and OPEB Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax Amount	(22)	41	40
Tax (Expense) Benefit	6	12	11
After-Tax Amount	(16)	29	29
Net Gains (Losses) on Trust Investments | Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-Tax Amount	(43)	9	42
Tax (Expense) Benefit	17	3	16
After-Tax Amount	$ (26)	$ 6	$ 26

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	12 Months Ended
		May 31, 2022	Mar. 31, 2022	Feb. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share, Diluted [Line Items]
Net Income (Loss)	[1]				$ 1,031	$ (648)	$ 1,905
Effect of Stock Based Compensation Awards, Basic					0	0	0
Total Shares, Basic					498,000	504,000	504,000
Effect of Stock Based Compensation Awards, Diluted					3,000	0	3,000
Total Shares, Diluted					501,000	504,000	507,000
Weighted Average Common Shares Outstanding Before Various Effects Basic					498,000	504,000	504,000
Weighted Average Common Shares Outstanding Before Various Effects Diluted					498,000	504,000	504,000
Earnings Per Share, Basic					$ 2.07	$ (1.29)	$ 3.78
Earnings Per Share, Diluted					$ 2.06	$ (1.29)	$ 3.76
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount					3,000
Stock Repurchase Program, Authorized Amount						$ 500
Payments for Repurchase of Common Stock			$ 250	$ 250	$ 500	$ 0	$ 0
Accelerated Share Repurchase percentage of initial shares received			80%
Treasury Stock, Shares, Acquired		600	3,000	3,800	7,400
[1]Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.

Earnings Per Share (EPS) And _4

Earnings Per Share (EPS) And Dividends (Dividend Payments On Common Stock) (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share, Diluted [Line Items]
Dividend Payments on Common Stock, Per Share		$ 2.16	$ 2.04	$ 1.96
Dividend Payments on Common Stock		$ 1,079	$ 1,031	$ 991
Subsequent Event [Member]
Earnings Per Share, Diluted [Line Items]
Common stock dividends per share	$ 0.57

Financial Information By Busi_3

Financial Information By Business Segments (Financial Information By Business Segments) (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Operating Revenues		$ 9,800		$ 9,722	$ 9,603
Depreciation and Amortization		1,100		1,216	1,285
Operating Income (Loss)		1,381		(856)	2,270
Income from Equity Method Investments		14		16	14
Interest Income		31		20	25
Interest Expense		(628)		(571)	(600)
Income (Loss) before Income Taxes		1,002		(1,089)	2,301
Income Tax Expense (Benefit)		(29)		(441)	396
Net Income (Loss)	[1]	1,031		(648)	1,905
Gross Additions to Long-Lived Assets		2,888		2,719	2,923
Total Assets		48,718		48,999	50,050
Investments in Equity Method Subsidiaries		306		173	64
Public Service Electric and Gas Company
Segment Reporting Information [Line Items]
Operating Revenues		7,935		7,122	6,608
PSEG Power & Other
Segment Reporting Information [Line Items]
Operating Revenues	[2]	3,266		3,767	4,229
Gain (loss) on sale, net of tax		(92)		(2,158)	86
Retained Earnings [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)		1,031		(648)	1,905
Operating Segments [Member] | Public Service Electric and Gas Company
Segment Reporting Information [Line Items]
Operating Revenues		7,935		7,122	6,608
Depreciation and Amortization		935		928	887
Operating Income (Loss)		1,892		1,818	1,639
Income from Equity Method Investments		0		0	0
Interest Income		19		14	17
Interest Expense		(427)		(402)	(388)
Income (Loss) before Income Taxes		1,832		1,770	1,567
Income Tax Expense (Benefit)		267		324	240
Net Income (Loss)		1,565		1,446	1,327
Gross Additions to Long-Lived Assets		2,590		2,447	2,507
Total Assets		39,960		37,198	35,581
Investments in Equity Method Subsidiaries		0		0	0
Operating Segments [Member] | PSEG Power & Other
Segment Reporting Information [Line Items]
Operating Revenues		3,266		3,767	4,229
Depreciation and Amortization		165		288	398
Operating Income (Loss)		(511)		(2,674)	631
Income from Equity Method Investments		14		16	14
Interest Income		13		6	10
Interest Expense		(202)		(169)	(214)
Income (Loss) before Income Taxes		(830)		(2,859)	734
Income Tax Expense (Benefit)		(296)		(765)	156
Net Income (Loss)	[1]	(534)		(2,094)	578
Gross Additions to Long-Lived Assets		298		272	416
Total Assets		9,285		12,258	14,988
Investments in Equity Method Subsidiaries		306		173	64
non trading commodity mark to market gains (losses), net of tax		(457)		(446)	(58)
Eliminations [Member]
Segment Reporting Information [Line Items]
Operating Revenues	[3]	(1,401)		(1,167)	(1,234)
Depreciation and Amortization	[3]	0		0	0
Operating Income (Loss)	[3]	0		0	0
Income from Equity Method Investments	[3]	0		0	0
Interest Income	[3]	(1)		0	(2)
Interest Expense	[3]	1		0	2
Income (Loss) before Income Taxes	[3]	0		0	0
Income Tax Expense (Benefit)	[3]	0		0	0
Net Income (Loss)	[3]	0		0	0
Gross Additions to Long-Lived Assets		0	[3]	0	0	[3]
Total Assets	[3]	(527)		(457)	(519)
Investments in Equity Method Subsidiaries	[3]	$ 0		$ 0	$ 0
[1]Include after-tax impairments of $92 million related to certain Energy Holdings investments and additional adjustments related to the sale of PSEG Power’s fossil generation assets in the year ended December 31, 2022. Includes after-tax impairment losses and other charges, including debt extinguishment costs, related to the sale of the fossil generating assets at PSEG Power of $2,158 million in the year ended December 31, 2021. Includes an after-tax gain of $86 million in the year ended December 31, 2020 related to the sale of PSEG Power’s interest in the Yards Creek generation facility. See Note 4. Early Plant Retirements/Asset Dispositions and Impairments for additional information. (C) Includes net after-tax losses of $457 million, $446 million and $58 million in the years ended December 31, 2022, 2021 and 2020, respectively at PSEG Power related to the impacts of non-trading commodity mark-to-market activity, which consists of the financial impact from positions with future delivery dates.

Related-Party Transactions (Sch

Related-Party Transactions (Schedule Of Related Party Transactions, Revenue) (Detail) - Public Service Electric and Gas Company - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Billings from Power through BGSS and BGS	[1]	$ 1,388	$ 1,144	$ 1,207
Administrative Billings from Services	[2]	445	394	337
Total Expense Billings from Affiliates		$ 1,833	$ 1,538	$ 1,544
[1]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. As of June 1, 2022, PSEG Power had no contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process. In addition, PSEG Power sells ZECs to PSE&G from its nuclear units under the ZEC program as approved by the BPU. 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[2]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.

Related-Party Transactions (S_2

Related-Party Transactions (Schedule Of Related Party Transactions, Payables) (Detail) - Public Service Electric and Gas Company - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Payable To Affiliate Through Bgs And Bgss Contracts	[1]	$ 313	$ 244
Payable to Services	[2]	98	111
Payable to Parent	[3]	74	63
Accounts Payable-Affiliated Companies		485	418
Working Capital Advances to Services	[4]	33	33
Long-Term Accrued Taxes Payable		$ 9	$ 6
[1]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. As of June 1, 2022, PSEG Power had no contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process. In addition, PSEG Power sells ZECs to PSE&G from its nuclear units under the ZEC program as approved by the BPU. 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[2]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.[3]PSEG pays all payroll taxes and receives reimbursement from its affiliated companies for their respective portions. In addition, 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.[4]PSE&G has advanced working capital to Services. The amount is included in Other Noncurrent Assets on PSE&G’s Consolidated Balance Sheets.

Valuation And Qualifying Acco_2

Valuation And Qualifying Accounts (Schedule Of Valuation And Qualifying Accounts) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Allowance For Doubtful Accounts [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period		$ 337	[1]	$ 206		$ 68	[1]
Additions, Charged to cost and expenses	[2]	114		195		175
Additions, Charged to other accounts-describe		0		0		0
Deductions-describe	[3]	112		64		37
Balance at End of Period		339		337	[1]	206
Allowance For Doubtful Accounts [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period				206
Balance at End of Period						206
Materials And Supplies Valuation Reserve [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period		12		10		11
Additions, Charged to cost and expenses		1		3		1
Additions, Charged to other accounts-describe		0		0		0
Deductions-describe	[4]	3		1		2
Balance at End of Period		10		12		10
Public Service Electric and Gas Company | Allowance For Doubtful Accounts [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period		337	[5]	206		68	[1]
Additions, Charged to cost and expenses	[6]	114		195		175
Additions, Charged to other accounts-describe		0		0		0
Deductions-describe	[7]	112		64		37
Balance at End of Period		339		337	[5]	206
Public Service Electric and Gas Company | Allowance For Doubtful Accounts [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period				206
Balance at End of Period						206
Public Service Electric and Gas Company | Materials And Supplies Valuation Reserve [Member]
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period		3		2		2
Additions, Charged to cost and expenses		1		2		0
Additions, Charged to other accounts-describe		0		0		0
Deductions-describe		0		1	[8]	0
Balance at End of Period		$ 4		$ 3		$ 2
[1]Includes $8 million due to the adoption of ASU 2016-13.[2]For a discussion of bad debt recoveries, see Item 8. Note 1. Organization, Basis of Presentation and Significant Accounting Policies.[3]Accounts Receivable written off.[4]Reserve reduced to appropriate level as a result of asset dispositions and to remove obsolete inventory.[5]Includes $8 million due to the adoption of ASU 2016-13.[6]For a discussion of bad debt recoveries, see Item 8. Note 1. Organization, Basis of Presentation and Significant Accounting Policies.[7]Accounts Receivable written off.[8]Reserve reduced to appropriate level and to remove obsolete inventory.