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Financing Receivables | 12 Months Ended
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Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items] |
Financing Receivables | Financing Receivables PSE&G PSE&G sponsors a solar loan program designed to help finance the installation of solar power systems throughout its electric service area. The loans are generally paid back with solar renewable energy certificates (SRECs) generated from the installed solar electric system. The following table reflects the outstanding loans, including the noncurrent portion reported in Note 6. Long-Term Investments, by class of customer, none of which would be considered “non-performing.”
| Credit Risk Profile Based on Payment Activity |
|  |  | As of December 31, |
| Consumer Loans |  | 2015 |  | 2014 |
|  |  | Millions |
| Commercial/Industrial |  | $ | 177 |  |  | $ | 188 |  |
| Residential |  | 12 |  |  | 13 |  |
|  |  | $ | 189 |  |  | $ | 201 |  |
Energy Holdings Energy Holdings had a net investment in domestic energy and real estate assets subject to leveraged lease accounting of $60 million as of December 31, 2015 and $98 million as of December 31, 2014 (See Note 6. Long-Term Investments). The corresponding receivables associated with the lease portfolio are reflected below, 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 Non-Recourse Debt |
| Counterparties’ Credit Rating Standard and Poor's (S&P) as of December 31, 2015 |  | As of December 31, 2015 |
|  |  | Millions |
| AA |  | $ | 17 |  |
| BBB+ - BBB- |  | 316 |  |
| BB- |  | 134 |  |
| CCC+ |  | 164 |  |
|  |  | $ | 631 |  |
The “BB-” and the "CCC+" ratings in the preceding table represent lease receivables related to coal-fired assets in Illinois and Pennsylvania, respectively. As of December 31, 2015, the gross investment in the leases of such assets, net of non-recourse debt, was $573 million, ($(30) million, net of deferred taxes). A more detailed description of such assets under lease is presented in the following table.
| Asset |  | Location |  | Gross Investment |  | % Owned |  | Total MW |  | Fuel Type |  | Counterparties’ S&P Credit Ratings |  | Counterparty |
|  |  |  |  | Millions |  |  |  |  |  |  |  |  |  |  |
| Powerton Station Units 5 and 6 |  | IL |  | $ | 134 |  |  | 64 | % |  | 1,538 |  |  | Coal |  | BB- |  | NRG Energy, Inc. |
| Joliet Station Units 7 and 8 |  | IL |  | $ | 84 |  |  | 64 | % |  | 1,044 |  |  | Coal |  | BB- |  | NRG Energy, Inc. |
| Keystone Station Units 1 and 2 |  | PA |  | $ | 121 |  |  | 17 | % |  | 1,711 |  |  | Coal |  | CCC+ |  | NRG REMA, LLC |
| Conemaugh Station Units 1 and 2 |  | PA |  | $ | 121 |  |  | 17 | % |  | 1,711 |  |  | Coal |  | CCC+ |  | NRG REMA, LLC |
| Shawville Station Units 1, 2, 3 and 4 |  | PA |  | $ | 113 |  |  | 100 | % |  | 603 |  |  | Coal |  | CCC+ |  | NRG REMA, LLC |
The credit exposure for lessors is partially mitigated through various credit enhancement mechanisms within the lease transactions. These credit enhancement features vary from lease to lease and may include letters of credit or affiliate guarantees. Upon the occurrence of certain defaults, indirect subsidiary companies of Energy Holdings would exercise their rights and attempt to seek recovery of their investment, 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 investments and trigger certain material tax obligations. A bankruptcy of a lessee would likely delay any efforts on the part of the lessors to assert their rights upon default and could delay the monetization of claims. Failure to recover adequate value could ultimately lead to a foreclosure on the assets under lease by the lenders. If foreclosures were to occur, Energy Holdings could potentially record a pre-tax write-off up to its gross investment in these facilities and may also be required to pay significant cash tax liabilities to the Internal Revenue Service (IRS). Although all lease payments are current, no assurances can be given that future payments in accordance with the lease contracts will continue. Factors which may impact future lease cash flows include, but are not limited to, new environmental legislation and regulation regarding air quality, water and other discharges in the process of generating electricity, market prices for fuel, electricity and capacity, overall financial condition of lease counterparties and the quality and condition of assets under lease. NRG REMA, LLC (NRG) notified PJM that it deactivated the coal-fired units at the Shawville generating facility in June 2015 and has disclosed that it expects to return the Shawville units to service in the summer of 2016 with the ability to use natural gas.
PSE&G [Member] |
Financing Receivable, Recorded Investment [Line Items] |
Financing Receivables | Financing Receivables PSE&G PSE&G sponsors a solar loan program designed to help finance the installation of solar power systems throughout its electric service area. The loans are generally paid back with solar renewable energy certificates (SRECs) generated from the installed solar electric system. The following table reflects the outstanding loans, including the noncurrent portion reported in Note 6. Long-Term Investments, by class of customer, none of which would be considered “non-performing.”
| Credit Risk Profile Based on Payment Activity |
|  |  | As of December 31, |
| Consumer Loans |  | 2015 |  | 2014 |
|  |  | Millions |
| Commercial/Industrial |  | $ | 177 |  |  | $ | 188 |  |
| Residential |  | 12 |  |  | 13 |  |
|  |  | $ | 189 |  |  | $ | 201 |  |
Energy Holdings Energy Holdings had a net investment in domestic energy and real estate assets subject to leveraged lease accounting of $60 million as of December 31, 2015 and $98 million as of December 31, 2014 (See Note 6. Long-Term Investments). The corresponding receivables associated with the lease portfolio are reflected below, 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 Non-Recourse Debt |
| Counterparties’ Credit Rating Standard and Poor's (S&P) as of December 31, 2015 |  | As of December 31, 2015 |
|  |  | Millions |
| AA |  | $ | 17 |  |
| BBB+ - BBB- |  | 316 |  |
| BB- |  | 134 |  |
| CCC+ |  | 164 |  |
|  |  | $ | 631 |  |
The “BB-” and the "CCC+" ratings in the preceding table represent lease receivables related to coal-fired assets in Illinois and Pennsylvania, respectively. As of December 31, 2015, the gross investment in the leases of such assets, net of non-recourse debt, was $573 million, ($(30) million, net of deferred taxes). A more detailed description of such assets under lease is presented in the following table.
| Asset |  | Location |  | Gross Investment |  | % Owned |  | Total MW |  | Fuel Type |  | Counterparties’ S&P Credit Ratings |  | Counterparty |
|  |  |  |  | Millions |  |  |  |  |  |  |  |  |  |  |
| Powerton Station Units 5 and 6 |  | IL |  | $ | 134 |  |  | 64 | % |  | 1,538 |  |  | Coal |  | BB- |  | NRG Energy, Inc. |
| Joliet Station Units 7 and 8 |  | IL |  | $ | 84 |  |  | 64 | % |  | 1,044 |  |  | Coal |  | BB- |  | NRG Energy, Inc. |
| Keystone Station Units 1 and 2 |  | PA |  | $ | 121 |  |  | 17 | % |  | 1,711 |  |  | Coal |  | CCC+ |  | NRG REMA, LLC |
| Conemaugh Station Units 1 and 2 |  | PA |  | $ | 121 |  |  | 17 | % |  | 1,711 |  |  | Coal |  | CCC+ |  | NRG REMA, LLC |
| Shawville Station Units 1, 2, 3 and 4 |  | PA |  | $ | 113 |  |  | 100 | % |  | 603 |  |  | Coal |  | CCC+ |  | NRG REMA, LLC |
The credit exposure for lessors is partially mitigated through various credit enhancement mechanisms within the lease transactions. These credit enhancement features vary from lease to lease and may include letters of credit or affiliate guarantees. Upon the occurrence of certain defaults, indirect subsidiary companies of Energy Holdings would exercise their rights and attempt to seek recovery of their investment, 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 investments and trigger certain material tax obligations. A bankruptcy of a lessee would likely delay any efforts on the part of the lessors to assert their rights upon default and could delay the monetization of claims. Failure to recover adequate value could ultimately lead to a foreclosure on the assets under lease by the lenders. If foreclosures were to occur, Energy Holdings could potentially record a pre-tax write-off up to its gross investment in these facilities and may also be required to pay significant cash tax liabilities to the Internal Revenue Service (IRS). Although all lease payments are current, no assurances can be given that future payments in accordance with the lease contracts will continue. Factors which may impact future lease cash flows include, but are not limited to, new environmental legislation and regulation regarding air quality, water and other discharges in the process of generating electricity, market prices for fuel, electricity and capacity, overall financial condition of lease counterparties and the quality and condition of assets under lease. NRG REMA, LLC (NRG) notified PJM that it deactivated the coal-fired units at the Shawville generating facility in June 2015 and has disclosed that it expects to return the Shawville units to service in the summer of 2016 with the ability to use natural gas.

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- Definition The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953791-111525 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e4975-111524 + Details
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