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Debt and Credit Facilities | 9 Months Ended
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Sep. 30, 2016
Debt Instrument [Line Items] |
Debt and Credit Facilities | Long-Term Debt Financing Transactions The following long-term debt transactions occurred in the nine months ended September 30, 2016: PSE&G
• | issued $300 million of 1.90% Secured Medium-Term Notes, Series K due March 2021,
• | issued $550 million of 3.80% Secured Medium-Term Notes, Series K due March 2046,
• | issued $425 million of 2.25% Secured Medium-Term Notes, Series L due September 2026,
• | retired $171 million of 6.75% Secured First and Refunding Mortgage Bonds, Series VV at maturity, and
• | repurchased at par $100 million of Pollution Control Financing Authority of Salem County Bonds (Salem Bonds) and retired a like aggregate principal amount of its First and Refunding Mortgage Bonds which serviced and secured the Salem Bonds.
Power
• | issued $700 million of 3.00% Senior Notes due June 2021,
• | retired $303 million of 5.32% Senior Notes due September 2016 and
• | retired $250 million of 2.75% Senior Notes due September 2016.
Short-Term Liquidity PSEG meets its short-term liquidity requirements, as well as those of Power, primarily with cash and through the issuance of commercial paper. 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. The commitments under PSEG’s $4.2 billion credit facilities are provided by a diverse bank group with no single institution representing more than 7% of the total commitments in PSEG’s credit facilities. As of September 30, 2016, PSEG’s total available credit capacity of $3.7 billion was in excess of its anticipated maximum liquidity requirements. Each of PSEG’s 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. PSEG’s total credit facilities and available liquidity as of September 30, 2016 were as follows:
|  |  | As of September 30, 2016 |  |  |  |  |
| Company/Facility |  | Total Facility |  | Usage (D) |  | Available Liquidity |  | Expiration Date |  | Primary Purpose |
|  |  | Millions |  |  |  |  |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility |  | $ | 500 |  |  | $ | 10 |  |  | $ | 490 |  |  | Apr 2019 |  | Commercial Paper (CP) Support/Funding/Letters of Credit |
| 5-year Credit Facility (A) |  | 500 |  |  | 255 |  |  | 245 |  |  | Apr 2020 |  | CP Support/Funding/Letters of Credit |
| Total PSEG |  | $ | 1,000 |  |  | $ | 265 |  |  | $ | 735 |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility (B) |  | $ | 600 |  |  | $ | 14 |  |  | $ | 586 |  |  | Apr 2020 |  | CP Support/Funding/Letters of Credit |
| Total PSE&G |  | $ | 600 |  |  | $ | 14 |  |  | $ | 586 |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility |  | $ | 1,600 |  |  | $ | 194 |  |  | $ | 1,406 |  |  | Apr 2019 |  | Funding/Letters of Credit |
| 5-year Credit Facility (C) |  | 953 |  |  | 11 |  |  | 942 |  |  | Apr 2020 |  | Funding/Letters of Credit |
| Total Power |  | $ | 2,553 |  |  | $ | 205 |  |  | $ | 2,348 |  |  |  |  |  |
| Total |  | $ | 4,153 |  |  | $ | 484 |  |  | $ | 3,669 |  |  |  |  |  |
(A) | PSEG facility will be reduced by $12 million in March 2018.
(B) | PSE&G facility will be reduced by $14 million in March 2018.
(C) | Power facility will be reduced by $24 million in March 2018.
(D) | The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective CP Programs. As of September 30, 2016, PSEG had $255 million outstanding under its CP Program at a weighted average interest rate of 0.79%. As of September 30, 2016, PSE&G had no amounts outstanding under its CP Program.
PSE And G [Member] |
Debt Instrument [Line Items] |
Debt and Credit Facilities | Long-Term Debt Financing Transactions The following long-term debt transactions occurred in the nine months ended September 30, 2016: PSE&G
• | issued $300 million of 1.90% Secured Medium-Term Notes, Series K due March 2021,
• | issued $550 million of 3.80% Secured Medium-Term Notes, Series K due March 2046,
• | issued $425 million of 2.25% Secured Medium-Term Notes, Series L due September 2026,
• | retired $171 million of 6.75% Secured First and Refunding Mortgage Bonds, Series VV at maturity, and
• | repurchased at par $100 million of Pollution Control Financing Authority of Salem County Bonds (Salem Bonds) and retired a like aggregate principal amount of its First and Refunding Mortgage Bonds which serviced and secured the Salem Bonds.
Power
• | issued $700 million of 3.00% Senior Notes due June 2021,
• | retired $303 million of 5.32% Senior Notes due September 2016 and
• | retired $250 million of 2.75% Senior Notes due September 2016.
Short-Term Liquidity PSEG meets its short-term liquidity requirements, as well as those of Power, primarily with cash and through the issuance of commercial paper. 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. The commitments under PSEG’s $4.2 billion credit facilities are provided by a diverse bank group with no single institution representing more than 7% of the total commitments in PSEG’s credit facilities. As of September 30, 2016, PSEG’s total available credit capacity of $3.7 billion was in excess of its anticipated maximum liquidity requirements. Each of PSEG’s 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. PSEG’s total credit facilities and available liquidity as of September 30, 2016 were as follows:
|  |  | As of September 30, 2016 |  |  |  |  |
| Company/Facility |  | Total Facility |  | Usage (D) |  | Available Liquidity |  | Expiration Date |  | Primary Purpose |
|  |  | Millions |  |  |  |  |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility |  | $ | 500 |  |  | $ | 10 |  |  | $ | 490 |  |  | Apr 2019 |  | Commercial Paper (CP) Support/Funding/Letters of Credit |
| 5-year Credit Facility (A) |  | 500 |  |  | 255 |  |  | 245 |  |  | Apr 2020 |  | CP Support/Funding/Letters of Credit |
| Total PSEG |  | $ | 1,000 |  |  | $ | 265 |  |  | $ | 735 |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility (B) |  | $ | 600 |  |  | $ | 14 |  |  | $ | 586 |  |  | Apr 2020 |  | CP Support/Funding/Letters of Credit |
| Total PSE&G |  | $ | 600 |  |  | $ | 14 |  |  | $ | 586 |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility |  | $ | 1,600 |  |  | $ | 194 |  |  | $ | 1,406 |  |  | Apr 2019 |  | Funding/Letters of Credit |
| 5-year Credit Facility (C) |  | 953 |  |  | 11 |  |  | 942 |  |  | Apr 2020 |  | Funding/Letters of Credit |
| Total Power |  | $ | 2,553 |  |  | $ | 205 |  |  | $ | 2,348 |  |  |  |  |  |
| Total |  | $ | 4,153 |  |  | $ | 484 |  |  | $ | 3,669 |  |  |  |  |  |
(A) | PSEG facility will be reduced by $12 million in March 2018.
(B) | PSE&G facility will be reduced by $14 million in March 2018.
(C) | Power facility will be reduced by $24 million in March 2018.
(D) | The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective CP Programs. As of September 30, 2016, PSEG had $255 million outstanding under its CP Program at a weighted average interest rate of 0.79%. As of September 30, 2016, PSE&G had no amounts outstanding under its CP Program.
Power [Member] |
Debt Instrument [Line Items] |
Debt and Credit Facilities | Long-Term Debt Financing Transactions The following long-term debt transactions occurred in the nine months ended September 30, 2016: PSE&G
• | issued $300 million of 1.90% Secured Medium-Term Notes, Series K due March 2021,
• | issued $550 million of 3.80% Secured Medium-Term Notes, Series K due March 2046,
• | issued $425 million of 2.25% Secured Medium-Term Notes, Series L due September 2026,
• | retired $171 million of 6.75% Secured First and Refunding Mortgage Bonds, Series VV at maturity, and
• | repurchased at par $100 million of Pollution Control Financing Authority of Salem County Bonds (Salem Bonds) and retired a like aggregate principal amount of its First and Refunding Mortgage Bonds which serviced and secured the Salem Bonds.
Power
• | issued $700 million of 3.00% Senior Notes due June 2021,
• | retired $303 million of 5.32% Senior Notes due September 2016 and
• | retired $250 million of 2.75% Senior Notes due September 2016.
Short-Term Liquidity PSEG meets its short-term liquidity requirements, as well as those of Power, primarily with cash and through the issuance of commercial paper. 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. The commitments under PSEG’s $4.2 billion credit facilities are provided by a diverse bank group with no single institution representing more than 7% of the total commitments in PSEG’s credit facilities. As of September 30, 2016, PSEG’s total available credit capacity of $3.7 billion was in excess of its anticipated maximum liquidity requirements. Each of PSEG’s 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. PSEG’s total credit facilities and available liquidity as of September 30, 2016 were as follows:
|  |  | As of September 30, 2016 |  |  |  |  |
| Company/Facility |  | Total Facility |  | Usage (D) |  | Available Liquidity |  | Expiration Date |  | Primary Purpose |
|  |  | Millions |  |  |  |  |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility |  | $ | 500 |  |  | $ | 10 |  |  | $ | 490 |  |  | Apr 2019 |  | Commercial Paper (CP) Support/Funding/Letters of Credit |
| 5-year Credit Facility (A) |  | 500 |  |  | 255 |  |  | 245 |  |  | Apr 2020 |  | CP Support/Funding/Letters of Credit |
| Total PSEG |  | $ | 1,000 |  |  | $ | 265 |  |  | $ | 735 |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility (B) |  | $ | 600 |  |  | $ | 14 |  |  | $ | 586 |  |  | Apr 2020 |  | CP Support/Funding/Letters of Credit |
| Total PSE&G |  | $ | 600 |  |  | $ | 14 |  |  | $ | 586 |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility |  | $ | 1,600 |  |  | $ | 194 |  |  | $ | 1,406 |  |  | Apr 2019 |  | Funding/Letters of Credit |
| 5-year Credit Facility (C) |  | 953 |  |  | 11 |  |  | 942 |  |  | Apr 2020 |  | Funding/Letters of Credit |
| Total Power |  | $ | 2,553 |  |  | $ | 205 |  |  | $ | 2,348 |  |  |  |  |  |
| Total |  | $ | 4,153 |  |  | $ | 484 |  |  | $ | 3,669 |  |  |  |  |  |
(A) | PSEG facility will be reduced by $12 million in March 2018.
(B) | PSE&G facility will be reduced by $14 million in March 2018.
(C) | Power facility will be reduced by $24 million in March 2018.
(D) | The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective CP Programs. As of September 30, 2016, PSEG had $255 million outstanding under its CP Program at a weighted average interest rate of 0.79%. As of September 30, 2016, PSE&G had no amounts outstanding under its CP Program.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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