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Debt and Credit Facilities | 9 Months Ended
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Sep. 30, 2017
Debt Instrument [Line Items] |
Debt and Credit Facilities | Debt and Credit Facilities Long-Term Debt Financing Transactions The following long-term debt transactions occurred in the nine months ended September 30, 2017: PSEG
• | entered into an agreement for a new term loan maturing June 2019. The term loan has a balance of $700 million at an interest rate of 1 month LIBOR + 0.80% and can be terminated at any time without penalty.
PSE&G
• | issued $425 million of 3.00% Secured Medium-Term Notes, Series L due May 2027.
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. In March 2017, PSEG, Power and PSE&G amended their credit agreements, extending the expiration dates to March 2022. Concurrently, PSEG increased its existing $1 billion in credit facilities to $1.5 billion and Power decreased its existing $2.6 billion in credit facilities to $2.1 billion, which includes two new 3-year $100 million letter of credit facilities that expire in March 2020. The commitments under the $4.2 billion credit facilities are provided by a diverse bank group. As of September 30, 2017, the total available credit capacity was $3.8 billion. As of September 30, 2017, no single institution represented more than 8% of the total commitments in the credit facilities. As of September 30, 2017, total credit capacity was in excess of the total anticipated maximum liquidity requirements of PSEG, PSE&G and Power. 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 September 30, 2017 were as follows:
|  |  | As of September 30, 2017 |  |  |  |  |
| Company/Facility |  | Total Facility |  | Usage |  | Available Liquidity |  | Expiration Date |  | Primary Purpose |
|  |  | Millions |  |  |  |  |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facilities (A) |  | $ | 1,500 |  |  | $ | 215 |  |  | $ | 1,285 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSEG |  | $ | 1,500 |  |  | $ | 215 |  |  | $ | 1,285 |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility (A) |  | $ | 600 |  |  | $ | 15 |  |  | $ | 585 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSE&G |  | $ | 600 |  |  | $ | 15 |  |  | $ | 585 |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |
| 3-year LC Facilities |  | $ | 200 |  |  | $ | 112 |  |  | $ | 88 |  |  | Mar 2020 |  | Letters of Credit |
| 5-year Credit Facilities |  | 1,900 |  |  | 70 |  |  | 1,830 |  |  | Mar 2022 |  | Funding/Letters of Credit |
| Total Power |  | $ | 2,100 |  |  | $ | 182 |  |  | $ | 1,918 |  |  |  |  |  |
| Total |  | $ | 4,200 |  |  | $ | 412 |  |  | $ | 3,788 |  |  |  |  |  |
(A) | The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs, under which as of September 30, 2017, PSEG had $202 million outstanding at a weighted average interest rate of 1.37%. PSE&G had no amounts outstanding under its Commercial Paper Program as of September 30, 2017.
PSE And G [Member] |
Debt Instrument [Line Items] |
Debt and Credit Facilities | Debt and Credit Facilities Long-Term Debt Financing Transactions The following long-term debt transactions occurred in the nine months ended September 30, 2017: PSEG
• | entered into an agreement for a new term loan maturing June 2019. The term loan has a balance of $700 million at an interest rate of 1 month LIBOR + 0.80% and can be terminated at any time without penalty.
PSE&G
• | issued $425 million of 3.00% Secured Medium-Term Notes, Series L due May 2027.
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. In March 2017, PSEG, Power and PSE&G amended their credit agreements, extending the expiration dates to March 2022. Concurrently, PSEG increased its existing $1 billion in credit facilities to $1.5 billion and Power decreased its existing $2.6 billion in credit facilities to $2.1 billion, which includes two new 3-year $100 million letter of credit facilities that expire in March 2020. The commitments under the $4.2 billion credit facilities are provided by a diverse bank group. As of September 30, 2017, the total available credit capacity was $3.8 billion. As of September 30, 2017, no single institution represented more than 8% of the total commitments in the credit facilities. As of September 30, 2017, total credit capacity was in excess of the total anticipated maximum liquidity requirements of PSEG, PSE&G and Power. 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 September 30, 2017 were as follows:
|  |  | As of September 30, 2017 |  |  |  |  |
| Company/Facility |  | Total Facility |  | Usage |  | Available Liquidity |  | Expiration Date |  | Primary Purpose |
|  |  | Millions |  |  |  |  |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facilities (A) |  | $ | 1,500 |  |  | $ | 215 |  |  | $ | 1,285 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSEG |  | $ | 1,500 |  |  | $ | 215 |  |  | $ | 1,285 |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility (A) |  | $ | 600 |  |  | $ | 15 |  |  | $ | 585 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSE&G |  | $ | 600 |  |  | $ | 15 |  |  | $ | 585 |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |
| 3-year LC Facilities |  | $ | 200 |  |  | $ | 112 |  |  | $ | 88 |  |  | Mar 2020 |  | Letters of Credit |
| 5-year Credit Facilities |  | 1,900 |  |  | 70 |  |  | 1,830 |  |  | Mar 2022 |  | Funding/Letters of Credit |
| Total Power |  | $ | 2,100 |  |  | $ | 182 |  |  | $ | 1,918 |  |  |  |  |  |
| Total |  | $ | 4,200 |  |  | $ | 412 |  |  | $ | 3,788 |  |  |  |  |  |
(A) | The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs, under which as of September 30, 2017, PSEG had $202 million outstanding at a weighted average interest rate of 1.37%. PSE&G had no amounts outstanding under its Commercial Paper Program as of September 30, 2017.
Power [Member] |
Debt Instrument [Line Items] |
Debt and Credit Facilities | Debt and Credit Facilities Long-Term Debt Financing Transactions The following long-term debt transactions occurred in the nine months ended September 30, 2017: PSEG
• | entered into an agreement for a new term loan maturing June 2019. The term loan has a balance of $700 million at an interest rate of 1 month LIBOR + 0.80% and can be terminated at any time without penalty.
PSE&G
• | issued $425 million of 3.00% Secured Medium-Term Notes, Series L due May 2027.
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. In March 2017, PSEG, Power and PSE&G amended their credit agreements, extending the expiration dates to March 2022. Concurrently, PSEG increased its existing $1 billion in credit facilities to $1.5 billion and Power decreased its existing $2.6 billion in credit facilities to $2.1 billion, which includes two new 3-year $100 million letter of credit facilities that expire in March 2020. The commitments under the $4.2 billion credit facilities are provided by a diverse bank group. As of September 30, 2017, the total available credit capacity was $3.8 billion. As of September 30, 2017, no single institution represented more than 8% of the total commitments in the credit facilities. As of September 30, 2017, total credit capacity was in excess of the total anticipated maximum liquidity requirements of PSEG, PSE&G and Power. 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 September 30, 2017 were as follows:
|  |  | As of September 30, 2017 |  |  |  |  |
| Company/Facility |  | Total Facility |  | Usage |  | Available Liquidity |  | Expiration Date |  | Primary Purpose |
|  |  | Millions |  |  |  |  |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facilities (A) |  | $ | 1,500 |  |  | $ | 215 |  |  | $ | 1,285 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSEG |  | $ | 1,500 |  |  | $ | 215 |  |  | $ | 1,285 |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility (A) |  | $ | 600 |  |  | $ | 15 |  |  | $ | 585 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSE&G |  | $ | 600 |  |  | $ | 15 |  |  | $ | 585 |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |
| 3-year LC Facilities |  | $ | 200 |  |  | $ | 112 |  |  | $ | 88 |  |  | Mar 2020 |  | Letters of Credit |
| 5-year Credit Facilities |  | 1,900 |  |  | 70 |  |  | 1,830 |  |  | Mar 2022 |  | Funding/Letters of Credit |
| Total Power |  | $ | 2,100 |  |  | $ | 182 |  |  | $ | 1,918 |  |  |  |  |  |
| Total |  | $ | 4,200 |  |  | $ | 412 |  |  | $ | 3,788 |  |  |  |  |  |
(A) | The primary use of PSEG’s and PSE&G’s credit facilities is to support their respective Commercial Paper Programs, under which as of September 30, 2017, PSEG had $202 million outstanding at a weighted average interest rate of 1.37%. PSE&G had no amounts outstanding under its Commercial Paper Program as of September 30, 2017.

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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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