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Financial Risk Management Activities (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure Financial Risk Management Activities [Abstract] |
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, 2017 |
|  | Power (A) |  | PSE&G (A) |  | PSEG (A) |  | Consolidated |
|  |  | Not Designated |  |  |  |  |  | Not Designated |  | Cash Flow Hedges |  |  |
| Balance Sheet Location |  | Energy- Related Contracts |  | Netting (B) |  | Total Power |  | Energy- Related Contracts |  | Interest Rate Swaps |  | Total Derivatives |
|  | Millions |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |  |  |
| Current Assets |  | $ | 391 |  |  | $ | (362 | ) |  | $ | 29 |  |  | $ | — |  |  | $ | — |  |  | $ | 29 |  |
| Noncurrent Assets |  | 78 |  |  | (71 | ) |  | 7 |  |  | — |  |  | — |  |  | 7 |  |
| Total Mark-to-Market Derivative Assets |  | $ | 469 |  |  | $ | (433 | ) |  | $ | 36 |  |  | $ | — |  |  | $ | — |  |  | $ | 36 |  |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |  |  |
| Current Liabilities |  | $ | (403 | ) |  | $ | 387 |  |  | $ | (16 | ) |  | $ | — |  |  | $ | — |  |  | $ | (16 | ) |
| Noncurrent Liabilities |  | (95 | ) |  | 90 |  |  | (5 | ) |  | — |  |  | — |  |  | (5 | ) |
| Total Mark-to-Market Derivative (Liabilities) |  | $ | (498 | ) |  | $ | 477 |  |  | $ | (21 | ) |  | $ | — |  |  | $ | — |  |  | $ | (21 | ) |
| Total Net Mark-to-Market Derivative Assets (Liabilities) |  | $ | (29 | ) |  | $ | 44 |  |  | $ | 15 |  |  | $ | — |  |  | $ | — |  |  | $ | 15 |  |
|  | As of December 31, 2016 |
|  | Power (A) |  | PSE&G (A) |  | PSEG (A) |  | Consolidated |
|  |  | Not Designated |  |  |  |  |  | Not Designated |  | Fair Value Hedges |  |  |
| Balance Sheet Location |  | Energy- Related Contracts |  | Netting (B) |  | Total Power |  | Energy- Related Contracts |  | Interest Rate Swaps |  | Total Derivatives |
|  | Millions |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |  |  |
| Current Assets |  | $ | 435 |  |  | $ | (273 | ) |  | $ | 162 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 163 |  |
| Noncurrent Assets |  | 122 |  |  | (98 | ) |  | 24 |  |  | — |  |  | — |  |  | 24 |  |
| Total Mark-to-Market Derivative Assets |  | $ | 557 |  |  | $ | (371 | ) |  | $ | 186 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 187 |  |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |  |  |
| Current Liabilities |  | $ | (285 | ) |  | $ | 277 |  |  | $ | (8 | ) |  | $ | (5 | ) |  | $ | — |  |  | $ | (13 | ) |
| Noncurrent Liabilities |  | (98 | ) |  | 95 |  |  | (3 | ) |  | — |  |  | — |  |  | (3 | ) |
| Total Mark-to-Market Derivative (Liabilities) |  | $ | (383 | ) |  | $ | 372 |  |  | $ | (11 | ) |  | $ | (5 | ) |  | $ | — |  |  | $ | (16 | ) |
| Total Net Mark-to-Market Derivative Assets (Liabilities) |  | $ | 174 |  |  | $ | 1 |  |  | $ | 175 |  |  | $ | (5 | ) |  | $ | 1 |  |  | $ | 171 |  |
(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, 2017 and 2016. 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 on the Consolidated Balance Sheets. As of December 31, 2017, and 2016, Power had net cash collateral/margin payments to counterparties of $146 million and $56 million, respectively. Of these net cash collateral/margin payments, $44 million as of December 31, 2017 and $1 million as of December 31, 2016 were netted against the corresponding net derivative contract positions. Of the $44 million as of December 31, 2017, $(3) million was netted against current assets, $28 million was netted against current liabilities and $19 million was netted against noncurrent liabilities. Of the $1 million as of December 31, 2016, $(3) million was netted against noncurrent assets and $4 million was netted against current liabilities.
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, 2017, 2016 and 2015.
|  |  | 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) |
| Derivatives in Cash Flow Hedging Relationships | Years Ended December 31, |  |  |  | Years Ended December 31, |
|  |  | 2017 |  | 2016 |  | 2015 |  |  |  | 2017 |  | 2016 |  | 2015 |
|  |  | Millions |  |  |  | Millions |
| PSEG |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | Operating Revenues |  | $ | — |  |  | $ | — |  |  | $ | 20 |  |
| Interest Rate Swaps |  | — |  |  | 3 |  |  | — |  |  | Interest Expense |  | 3 |  |  | — |  |  | — |  |
| Total PSEG |  | $ | — |  |  | $ | 3 |  |  | $ | 3 |  |  |  |  | $ | 3 |  |  | $ | — |  |  | $ | 20 |  |
| Power |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Energy-Related Contracts |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | Operating Revenues |  | $ | — |  |  | $ | — |  |  | $ | 20 |  |
| Total Power |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 20 |  |
There were no pre-tax gain (loss) recognized in income on derivatives (ineffective portion) as of December 31, 2017, 2016 and 2015.
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, 2015 |  | $ | — |  |  | $ | — |  |
| Gain Recognized in AOCI |  | 3 |  |  | 2 |  |
| Less: Gain Reclassified into Income |  | — |  |  | — |  |
| Balance as of December 31, 2016 |  | $ | 3 |  |  | $ | 2 |  |
| Gain Recognized in AOCI |  | — |  |  | — |  |
| Less: Gain Reclassified into Income |  | (3 | ) |  | (2 | ) |
| Balance as of December 31, 2017 |  | $ | — |  |  | $ | — |  |
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, 2017, 2016 and 2015. 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 which 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 Gain (Loss) Recognized in Income on Derivatives |  | Pre-Tax Gain (Loss) Recognized in Income on Derivatives |
|  |  |  |  | Years Ended December 31, |
|  |  |  |  | 2017 |  | 2016 |  | 2015 |
|  |  |  |  | Millions |
| PSEG and Power |  |  |  |  |  |  |  |  |
| Energy-Related Contracts |  | Operating Revenues |  | $ | 72 |  |  | $ | 230 |  |  | $ | 412 |  |
| Energy-Related Contracts |  | Energy Costs |  | (17 | ) |  | (8 | ) |  | (8 | ) |
| Total PSEG and Power |  |  |  | $ | 55 |  |  | $ | 222 |  |  | $ | 404 |  |
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, 2017 and 2016.
| Type |  | Notional |  | Total |  | PSEG |  | Power |  | PSE&G |
|  |  | Millions |
| As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |
| Natural Gas |  | Dth |  | 154 |  |  | — |  |  | 154 |  |  | — |  |
| Electricity |  | MWh |  | (63 | ) |  | — |  |  | (63 | ) |  | — |  |
| Financial Transmission Rights (FTRs) |  | MWh |  | 6 |  |  | — |  |  | 6 |  |  | — |  |
| As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |
| Natural Gas |  | Dth |  | 122 |  |  | — |  |  | 113 |  |  | 9 |  |
| Electricity |  | MWh |  | (44 | ) |  | — |  |  | (44 | ) |  | — |  |
| FTRs |  | MWh |  | 9 |  |  | — |  |  | 9 |  |  | — |  |
| Interest Rate Swaps |  | U.S. Dollars |  | 500 |  |  | 500 |  |  | — |  |  | — |  |
Schedule Providing Credit Risk From Others, Net Of Collateral | . The following table provides information on Power’s credit risk from others, net of collateral, as of December 31, 2017. It further delineates that exposure by the credit rating of the counterparties, which is determined by the lowest rating from S&P, Moody’s or an internal scoring model. In addition, it 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 |  | $ | 329 |  |  | $ | 25 |  |  | $ | 304 |  |  | 1 |  |  | $ | 204 |  | (A) |
| Non-Investment Grade |  | 3 |  |  | 1 |  |  | 2 |  |  | — |  |  | — |  |  |
| Total |  | $ | 332 |  |  | $ | 26 |  |  | $ | 306 |  |  | 1 |  |  | $ | 204 |  |  |
(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 -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4L -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5708777-113959 Reference 2: 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=84234895&loc=SL5708775-113959 Reference 3: 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=84234895&loc=SL5708773-113959 + Details
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