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Financial Risk Management Activities (Tables) | 12 Months Ended
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Dec. 31, 2015
Disclosure Financial Risk Management Activities [Abstract] |
Schedule Of Derivative Transactions Designated And Effective As Cash Flow Hedges | As of December 31, 2015 and 2014, the fair value and the impact on Accumulated Other Comprehensive Income (Loss) associated with accounting hedge activity was as follows:
|  | As of December 31, |
|  | 2015 |  | 2014 |
|  | Millions |
| Fair Value of Cash Flow Hedges | $ | — |  |  | $ | 18 |  |
| Impact on Accumulated Other Comprehensive Income (Loss) (after tax) | $ | — |  |  | $ | 10 |  |
Schedule Of Derivative Instruments Fair Value In Balance Sheets | The following tabular disclosure does not include the offsetting of trade receivables and payables.
|  | As of December 31, 2015 |
|  | Power (A) |  | PSE&G (A) |  | PSEG (A) |  | Consolidated |
|  | Cash Flow Hedges |  | Not Designated |  |  |  |  |  | Not Designated |  | Fair Value Hedges |  |  |
| Balance Sheet Location | Energy- Related Contracts |  | Energy- Related Contracts |  | Netting (B) |  | Total Power |  | Energy- Related Contracts |  | Interest Rate Swaps |  | Total Derivatives |
|  | Millions |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Current Assets | $ | — |  |  | $ | 700 |  |  | $ | (477 | ) |  | $ | 223 |  |  | $ | 13 |  |  | $ | 6 |  |  | $ | 242 |  |
| Noncurrent Assets | — |  |  | 208 |  |  | (131 | ) |  | 77 |  |  | — |  |  | — |  |  | 77 |  |
| Total Mark-to-Market Derivative Assets | $ | — |  |  | $ | 908 |  |  | $ | (608 | ) |  | $ | 300 |  |  | $ | 13 |  |  | $ | 6 |  |  | $ | 319 |  |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Current Liabilities | $ | — |  |  | $ | (513 | ) |  | $ | 437 |  |  | $ | (76 | ) |  | $ | — |  |  | $ | — |  |  | $ | (76 | ) |
| Noncurrent Liabilities | — |  |  | (132 | ) |  | 116 |  |  | (16 | ) |  | (11 | ) |  | — |  |  | (27 | ) |
| Total Mark-to-Market Derivative (Liabilities) | $ | — |  |  | $ | (645 | ) |  | $ | 553 |  |  | $ | (92 | ) |  | $ | (11 | ) |  | $ | — |  |  | $ | (103 | ) |
| Total Net Mark-to-Market Derivative Assets (Liabilities) | $ | — |  |  | $ | 263 |  |  | $ | (55 | ) |  | $ | 208 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 216 |  |
|  | As of December 31, 2014 |
|  | Power (A) |  | PSE&G (A) |  | PSEG (A) |  | Consolidated |
|  | Cash Flow Hedges |  | Not Designated |  |  |  |  |  | Not Designated |  | Fair Value Hedges |  |  |
| Balance Sheet Location | Energy- Related Contracts |  | Energy- Related Contracts |  | Netting (B) |  | Total Power |  | Energy- Related Contracts |  | Interest Rate Swaps |  | Total Derivatives |
|  | Millions |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Current Assets | $ | 18 |  |  | $ | 597 |  |  | $ | (408 | ) |  | $ | 207 |  |  | $ | 18 |  |  | $ | 15 |  |  | $ | 240 |  |
| Noncurrent Assets | — |  |  | 171 |  |  | (109 | ) |  | 62 |  |  | 8 |  |  | 7 |  |  | 77 |  |
| Total Mark-to-Market Derivative Assets | $ | 18 |  |  | $ | 768 |  |  | $ | (517 | ) |  | $ | 269 |  |  | $ | 26 |  |  | $ | 22 |  |  | $ | 317 |  |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Current Liabilities | $ | — |  |  | $ | (568 | ) |  | $ | 436 |  |  | $ | (132 | ) |  | $ | — |  |  | $ | — |  |  | $ | (132 | ) |
| Noncurrent Liabilities | — |  |  | (138 | ) |  | 105 |  |  | (33 | ) |  | — |  |  | — |  |  | (33 | ) |
| Total Mark-to-Market Derivative (Liabilities) | $ | — |  |  | $ | (706 | ) |  | $ | 541 |  |  | $ | (165 | ) |  | $ | — |  |  | $ | — |  |  | $ | (165 | ) |
| Total Net Mark-to-Market Derivative Assets (Liabilities) | $ | 18 |  |  | $ | 62 |  |  | $ | 24 |  |  | $ | 104 |  |  | $ | 26 |  |  | $ | 22 |  |  | $ | 152 |  |
(A) | Substantially all of Power's and PSEG's 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, 2015 and 2014. PSE&G does not have any derivative contracts subject to master netting or similar agreements.
(B) | Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. All cash collateral received or posted that has been allocated to derivative positions, where the right of offset exists, has been offset in the Consolidated Balance Sheets. As of December 31, 2015 and 2014, net cash collateral (received) paid of $(55) million and $24 million, respectively, were netted against the corresponding net derivative contract positions. Of the $(55) million as of December 31, 2015, $(53) million and $(16) million were netted against current assets and noncurrent assets, respectively, and $12 million and $2 million were netted against current liabilities and noncurrent liabilities, respectively. Of the $24 million as of December 31, 2014, cash collateral of $(4) million and $(8) million were netted against current assets and noncurrent assets, respectively, and $32 million and $4 million were netted against current liabilities and noncurrent liabilities, respectivel
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 Income (AOCI) of derivative instruments designated as cash flow hedges for the years ended December 31, 2015, 2014 and 2013:
|  |  | Amount of Pre-Tax Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) |  | Location of Pre-Tax Gain (Loss) Reclassified from AOCI into Income |  | Amount of Pre-Tax Gain (Loss) Reclassified from AOCI into Income (Effective Portion) |  | Amount of Pre-Tax Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion) |
| Derivatives in Cash Flow Hedging Relationships | Years Ended December 31, |  |  |  | Years Ended December 31, |  | Years Ended December 31, |
|  |  | 2015 |  | 2014 |  | 2013 |  |  |  | 2015 |  | 2014 |  | 2013 |  | 2015 |  | 2014 |  | 2013 |
|  |  | Millions |  |  |  | Millions |
| PSEG |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts |  | $ | 3 |  |  | $ | 12 |  |  | $ | (4 | ) |  | Operating Revenues |  | $ | 20 |  |  | $ | (9 | ) |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | (1 | ) |
| Interest Rate Swaps (A) |  | — |  |  | — |  |  | — |  |  | Interest Expense |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |
| Total PSEG |  | $ | 3 |  |  | $ | 12 |  |  | $ | (4 | ) |  |  |  | $ | 20 |  |  | $ | (9 | ) |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | (1 | ) |
| Power |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts |  | $ | 3 |  |  | $ | 12 |  |  | $ | (4 | ) |  | Operating Revenues |  | $ | 20 |  |  | $ | (9 | ) |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | (1 | ) |
| Total Power |  | $ | 3 |  |  | $ | 12 |  |  | $ | (4 | ) |  |  |  | $ | 20 |  |  | $ | (9 | ) |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | (1 | ) |
(A) | Includes amounts for PSEG parent.
Schedule Of Reconciliation For Derivative Activity Included In Accumulated Other Comprehensive Loss | The following reconciles the AOCI for derivative activity included in the Accumulated Other Comprehensive Loss of PSEG on a pre-tax and after-tax basis:
| Accumulated Other Comprehensive Income |  | Pre-Tax |  | After-Tax |
|  |  | Millions |
| Balance as of December 31, 2013 |  | $ | (4 | ) |  | $ | (2 | ) |
| Gain Recognized in AOCI |  | 12 |  |  | 7 |  |
| Plus: Loss Reclassified into Income |  | 9 |  |  | 5 |  |
| Balance as of December 31, 2014 |  | $ | 17 |  |  | $ | 10 |  |
| Gain Recognized in AOCI |  | 3 |  |  | 2 |  |
| Less: Gain Reclassified into Income |  | (20 | ) |  | (12 | ) |
| Balance as of December 31, 2015 |  | $ | — |  |  | $ | — |  |
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 normal purchases and sales for the years ended December 31, 2015, 2014 and 2013:
| Derivatives Not Designated as Hedges |  | Location of Pre-Tax Gain (Loss) Recognized in Income on Derivatives |  | Pre-Tax Gain (Loss) Recognized in Income on Derivatives |
|  |  |  |  | Years Ended December 31, |
|  |  |  |  | 2015 |  | 2014 |  | 2013 |
|  |  |  |  | Millions |
| PSEG and Power |  |  |  |  |  |  |  |  |
| Energy-Related Contracts |  | Operating Revenues |  | $ | 412 |  |  | $ | (348 | ) |  | $ | (128 | ) |
| Energy-Related Contracts |  | Energy Costs |  | (8 | ) |  | 32 |  |  | 106 |  |
| Total PSEG and Power |  |  |  | $ | 404 |  |  | $ | (316 | ) |  | $ | (22 | ) |
Schedule Of Gross Volume, On Absolute Value Basis For Derivative Contracts | The following reflects the gross volume, on an absolute value basis, of derivatives as of December 31, 2015 and 2014:
| Type |  | Notional |  | Total |  | PSEG |  | Power |  | PSE&G |
|  |  | Millions |
| As of December 31, 2015 |  |  |  |  |  |  |  |  |  |  |
| Natural Gas |  | Dth |  | 201 |  |  | — |  |  | 168 |  |  | 33 |  |
| Electricity |  | MWh |  | 299 |  |  | — |  |  | 299 |  |  | — |  |
| Financial Transmission Rights (FTRs) |  | MWh |  | 23 |  |  | — |  |  | 23 |  |  | — |  |
| Interest Rate Swaps |  | U.S. Dollars |  | 550 |  |  | 550 |  |  | — |  |  | — |  |
| As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |
| Natural Gas |  | Dth |  | 274 |  |  | — |  |  | 216 |  |  | 58 |  |
| Electricity |  | MWh |  | 310 |  |  | — |  |  | 310 |  |  | — |  |
| FTRs |  | MWh |  | 15 |  |  | — |  |  | 15 |  |  | — |  |
| Interest Rate Swaps |  | U.S. Dollars |  | 850 |  |  | 850 |  |  | — |  |  | — |  |
Schedule Providing Credit Risk From Others, Net Of Collateral | . The following table provides information on Power’s credit risk from others, net of cash collateral, as of December 31, 2015. It further delineates that exposure by the credit rating of the counterparties and provides guidance on the concentration of credit risk to individual counterparties and an indication of the quality of Power’s credit risk by credit rating of the counterparties.
| Rating |  | Current Exposure |  | Securities held as Collateral |  | Net Exposure |  | Number of Counterparties >10% |  | Net Exposure of Counterparties >10% |  |
|  |  | Millions |  |  |  | Millions |  |
| Investment Grade—External Rating |  | $ | 451 |  |  | $ | 175 |  |  | $ | 276 |  |  | 1 |  |  | $ | 160 |  | (A) |
| Non-Investment Grade—External Rating |  | 24 |  |  | — |  |  | 24 |  |  | — |  |  | — |  |  |
| Investment Grade—No External Rating |  | 12 |  |  | 1 |  |  | 11 |  |  | — |  |  | — |  |  |
| Non-Investment Grade—No External Rating |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  |
| Total |  | $ | 488 |  |  | $ | 176 |  |  | $ | 312 |  |  | 1 |  |  | $ | 160 |  |  |
(A) | Represents net exposure with PSE&G.

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- Definition Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Credit Derivative -URI http://asc.fasb.org/extlink&oid=6854095 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4L -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708777-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708775-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708773-113959 + Details
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