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Financing Receivables | 12 Months Ended
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Dec. 31, 2017
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. Interest income on the loans is recorded on an accrual basis. The loans are generally paid back with solar renewable energy certificates (SRECs) generated from the installed solar electric system. In the event of a loan default, the basis of the solar loan would be recovered through a regulatory recovery mechanism. None of the solar loans are impaired; however, in the event a loan becomes impaired, the basis of the loan would be recovered through a regulatory recovery mechanism. The following table reflects the outstanding loans, including the noncurrent portion reported in Note 7. Long-Term Investments, by class of customer, none of which would be considered “non-performing.”
| Outstanding Loans by Class of Customer |
|  |  | As of December 31, |
| Consumer Loans |  | 2017 |  | 2016 |
|  |  | Millions |
| Commercial/Industrial |  | $ | 158 |  |  | $ | 164 |  |
| Residential |  | 10 |  |  | 11 |  |
| Total |  | $ | 168 |  |  | $ | 175 |  |
Energy Holdings Energy Holdings had a net investment in domestic energy and real estate assets subject to leveraged lease accounting of $85 million as of December 31, 2017 and $(25) million as of December 31, 2016 (See Note 7. Long-Term Investments). The corresponding receivables associated with the lease portfolio are reflected as follows, 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 & Poor’s (S&P) as of December 31, 2017 |  | As of December 31, 2017 |
|  |  | Millions |
| AA |  | $ | 15 |  |
| BBB+, BBB, BBB- |  | 316 |  |
| BB- |  | 133 |  |
| CCC- |  | 82 |  |
| Total |  | $ | 546 |  |
The “BB-” and the “CCC-” ratings in the preceding table represent lease receivables related to coal and gas-fired assets in Illinois and Pennsylvania, respectively. As of December 31, 2017, the gross investment in the leases of such assets, net of non-recourse debt, was $335 million, ($(67) 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 |  | $ | 132 |  |  | 64 | % |  | 1,538 |  |  | Coal |  | BB- |  | NRG Energy, Inc. |
| Joliet Station Units 7 and 8 |  | IL |  | $ | 85 |  |  | 64 | % |  | 1,036 |  |  | Gas |  | BB- |  | NRG Energy, Inc. |
| Keystone Station Units 1 and 2 |  | PA |  | $ | 20 |  |  | 17 | % |  | 1,711 |  |  | Coal |  | CCC- |  | REMA (A) |
| Conemaugh Station Units 1 and 2 |  | PA |  | $ | 20 |  |  | 17 | % |  | 1,711 |  |  | Coal |  | CCC- |  | REMA (A) |
| Shawville Station Units 1, 2, 3 and 4 |  | PA |  | $ | 78 |  |  | 100 | % |  | 596 |  |  | Gas |  | CCC- |  | REMA (A) |
(A) | GenOn Energy Inc. (GenOn), and certain of its subsidiaries (which did not include REMA) filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code. GenOn is currently engaged in a balance sheet restructuring, which will take an undetermined time to complete. Certain subsidiaries of Energy Holdings, REMA, consenting holders of the pass-through certificates and other parties entered into a Forbearance relating to the Conemaugh facility. For additional information, see Note 7. Long-Term Investments.
The credit exposure for lessors is partially mitigated through various credit enhancement mechanisms within the lease structures. These credit enhancement features vary from lease to lease. Upon the occurrence of certain defaults, indirect subsidiary companies of Energy Holdings would exercise their rights and 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 and trigger certain material tax obligations which could wholly or partially be mitigated by tax indemnification claims against the counterparty. A bankruptcy of a lessee would likely delay and potentially limit 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. Additional factors that 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 their affiliates and the quality and condition of assets under lease.
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. Interest income on the loans is recorded on an accrual basis. The loans are generally paid back with solar renewable energy certificates (SRECs) generated from the installed solar electric system. In the event of a loan default, the basis of the solar loan would be recovered through a regulatory recovery mechanism. None of the solar loans are impaired; however, in the event a loan becomes impaired, the basis of the loan would be recovered through a regulatory recovery mechanism. The following table reflects the outstanding loans, including the noncurrent portion reported in Note 7. Long-Term Investments, by class of customer, none of which would be considered “non-performing.”
| Outstanding Loans by Class of Customer |
|  |  | As of December 31, |
| Consumer Loans |  | 2017 |  | 2016 |
|  |  | Millions |
| Commercial/Industrial |  | $ | 158 |  |  | $ | 164 |  |
| Residential |  | 10 |  |  | 11 |  |
| Total |  | $ | 168 |  |  | $ | 175 |  |
Energy Holdings Energy Holdings had a net investment in domestic energy and real estate assets subject to leveraged lease accounting of $85 million as of December 31, 2017 and $(25) million as of December 31, 2016 (See Note 7. Long-Term Investments). The corresponding receivables associated with the lease portfolio are reflected as follows, 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 & Poor’s (S&P) as of December 31, 2017 |  | As of December 31, 2017 |
|  |  | Millions |
| AA |  | $ | 15 |  |
| BBB+, BBB, BBB- |  | 316 |  |
| BB- |  | 133 |  |
| CCC- |  | 82 |  |
| Total |  | $ | 546 |  |
The “BB-” and the “CCC-” ratings in the preceding table represent lease receivables related to coal and gas-fired assets in Illinois and Pennsylvania, respectively. As of December 31, 2017, the gross investment in the leases of such assets, net of non-recourse debt, was $335 million, ($(67) 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 |  | $ | 132 |  |  | 64 | % |  | 1,538 |  |  | Coal |  | BB- |  | NRG Energy, Inc. |
| Joliet Station Units 7 and 8 |  | IL |  | $ | 85 |  |  | 64 | % |  | 1,036 |  |  | Gas |  | BB- |  | NRG Energy, Inc. |
| Keystone Station Units 1 and 2 |  | PA |  | $ | 20 |  |  | 17 | % |  | 1,711 |  |  | Coal |  | CCC- |  | REMA (A) |
| Conemaugh Station Units 1 and 2 |  | PA |  | $ | 20 |  |  | 17 | % |  | 1,711 |  |  | Coal |  | CCC- |  | REMA (A) |
| Shawville Station Units 1, 2, 3 and 4 |  | PA |  | $ | 78 |  |  | 100 | % |  | 596 |  |  | Gas |  | CCC- |  | REMA (A) |
(A) | GenOn Energy Inc. (GenOn), and certain of its subsidiaries (which did not include REMA) filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code. GenOn is currently engaged in a balance sheet restructuring, which will take an undetermined time to complete. Certain subsidiaries of Energy Holdings, REMA, consenting holders of the pass-through certificates and other parties entered into a Forbearance relating to the Conemaugh facility. For additional information, see Note 7. Long-Term Investments.
The credit exposure for lessors is partially mitigated through various credit enhancement mechanisms within the lease structures. These credit enhancement features vary from lease to lease. Upon the occurrence of certain defaults, indirect subsidiary companies of Energy Holdings would exercise their rights and 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 and trigger certain material tax obligations which could wholly or partially be mitigated by tax indemnification claims against the counterparty. A bankruptcy of a lessee would likely delay and potentially limit 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. Additional factors that 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 their affiliates and the quality and condition of assets under lease.

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
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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 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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