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Debt and Credit Facilities | 9 Months Ended
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Sep. 30, 2018
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, 2018: PSE&G
• | issued $375 million of 3.70% Secured Medium-Term Notes, Series M, due May 2028,
• | issued $325 million of 4.05% Secured Medium-Term Notes, Series M, due May 2048,
• | issued $325 million of 3.25% Secured Medium-Term Notes, Series M, due September 2023,
• | issued $325 million of 3.65% Secured Medium-Term Notes, Series M, due September 2028,
• | retired $400 million of 5.30% Medium-Term Notes at maturity, and
• | retired $350 million of 2.30% Medium-Term Notes at maturity.
Power
• | issued $700 million of 3.85% Senior Notes due June 2023.
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 the $4.3 billion credit facilities are provided by a diverse bank group. As of September 30, 2018, the total available credit capacity was $3.6 billion. As of September 30, 2018, no single institution represented more than 9% of the total commitments in the credit facilities. As of September 30, 2018, total credit capacity was in excess of the total anticipated maximum liquidity requirements over PSEG’s 12-month planning horizon. In September 2018, Power amended an existing 3-year $100 million letter of credit facility, extending the expiration date to September 2021. The second letter of credit facility, which is scheduled to expire in March 2020, will be terminated during the fourth quarter of 2018. Power also executed a new 3-year $100 million letter of credit facility that expires in September 2021. 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, 2018 were as follows:
|  |  | As of September 30, 2018 |  |  |  |  |
| Company/Facility |  | Total Facility |  | Usage |  | Available Liquidity |  | Expiration Date |  | Primary Purpose |
|  |  | Millions |  |  |  |  |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facilities (A) |  | $ | 1,500 |  |  | $ | 393 |  |  | $ | 1,107 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSEG |  | $ | 1,500 |  |  | $ | 393 |  |  | $ | 1,107 |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility (A) |  | $ | 600 |  |  | $ | 56 |  |  | $ | 544 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSE&G |  | $ | 600 |  |  | $ | 56 |  |  | $ | 544 |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |
| 3-year Letter of Credit Facility |  | $ | 100 |  |  | $ | 62 |  |  | $ | 38 |  |  | Mar 2020 |  | Letters of Credit |
| 3-year Letter of Credit Facilities |  | 200 |  |  | 100 |  |  | $ | 100 |  |  | Sept 2021 |  | Letters of Credit |
| 5-year Credit Facilities |  | 1,900 |  |  | 51 |  |  | 1,849 |  |  | Mar 2022 |  | Funding/Letters of Credit |
| Total Power |  | $ | 2,200 |  |  | $ | 213 |  |  | $ | 1,987 |  |  |  |  |  |
| Total |  | $ | 4,300 |  |  | $ | 662 |  |  | $ | 3,638 |  |  |  |  |  |
(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, 2018, PSEG had $379 million outstanding at a weighted average interest rate of 2.54%. PSE&G had $40 million outstanding at a weighted average interest rate of 2.35% under its Commercial Paper Program as of September 30, 2018.
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, 2018: PSE&G
• | issued $375 million of 3.70% Secured Medium-Term Notes, Series M, due May 2028,
• | issued $325 million of 4.05% Secured Medium-Term Notes, Series M, due May 2048,
• | issued $325 million of 3.25% Secured Medium-Term Notes, Series M, due September 2023,
• | issued $325 million of 3.65% Secured Medium-Term Notes, Series M, due September 2028,
• | retired $400 million of 5.30% Medium-Term Notes at maturity, and
• | retired $350 million of 2.30% Medium-Term Notes at maturity.
Power
• | issued $700 million of 3.85% Senior Notes due June 2023.
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 the $4.3 billion credit facilities are provided by a diverse bank group. As of September 30, 2018, the total available credit capacity was $3.6 billion. As of September 30, 2018, no single institution represented more than 9% of the total commitments in the credit facilities. As of September 30, 2018, total credit capacity was in excess of the total anticipated maximum liquidity requirements over PSEG’s 12-month planning horizon. In September 2018, Power amended an existing 3-year $100 million letter of credit facility, extending the expiration date to September 2021. The second letter of credit facility, which is scheduled to expire in March 2020, will be terminated during the fourth quarter of 2018. Power also executed a new 3-year $100 million letter of credit facility that expires in September 2021. 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, 2018 were as follows:
|  |  | As of September 30, 2018 |  |  |  |  |
| Company/Facility |  | Total Facility |  | Usage |  | Available Liquidity |  | Expiration Date |  | Primary Purpose |
|  |  | Millions |  |  |  |  |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facilities (A) |  | $ | 1,500 |  |  | $ | 393 |  |  | $ | 1,107 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSEG |  | $ | 1,500 |  |  | $ | 393 |  |  | $ | 1,107 |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility (A) |  | $ | 600 |  |  | $ | 56 |  |  | $ | 544 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSE&G |  | $ | 600 |  |  | $ | 56 |  |  | $ | 544 |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |
| 3-year Letter of Credit Facility |  | $ | 100 |  |  | $ | 62 |  |  | $ | 38 |  |  | Mar 2020 |  | Letters of Credit |
| 3-year Letter of Credit Facilities |  | 200 |  |  | 100 |  |  | $ | 100 |  |  | Sept 2021 |  | Letters of Credit |
| 5-year Credit Facilities |  | 1,900 |  |  | 51 |  |  | 1,849 |  |  | Mar 2022 |  | Funding/Letters of Credit |
| Total Power |  | $ | 2,200 |  |  | $ | 213 |  |  | $ | 1,987 |  |  |  |  |  |
| Total |  | $ | 4,300 |  |  | $ | 662 |  |  | $ | 3,638 |  |  |  |  |  |
(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, 2018, PSEG had $379 million outstanding at a weighted average interest rate of 2.54%. PSE&G had $40 million outstanding at a weighted average interest rate of 2.35% under its Commercial Paper Program as of September 30, 2018.
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, 2018: PSE&G
• | issued $375 million of 3.70% Secured Medium-Term Notes, Series M, due May 2028,
• | issued $325 million of 4.05% Secured Medium-Term Notes, Series M, due May 2048,
• | issued $325 million of 3.25% Secured Medium-Term Notes, Series M, due September 2023,
• | issued $325 million of 3.65% Secured Medium-Term Notes, Series M, due September 2028,
• | retired $400 million of 5.30% Medium-Term Notes at maturity, and
• | retired $350 million of 2.30% Medium-Term Notes at maturity.
Power
• | issued $700 million of 3.85% Senior Notes due June 2023.
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 the $4.3 billion credit facilities are provided by a diverse bank group. As of September 30, 2018, the total available credit capacity was $3.6 billion. As of September 30, 2018, no single institution represented more than 9% of the total commitments in the credit facilities. As of September 30, 2018, total credit capacity was in excess of the total anticipated maximum liquidity requirements over PSEG’s 12-month planning horizon. In September 2018, Power amended an existing 3-year $100 million letter of credit facility, extending the expiration date to September 2021. The second letter of credit facility, which is scheduled to expire in March 2020, will be terminated during the fourth quarter of 2018. Power also executed a new 3-year $100 million letter of credit facility that expires in September 2021. 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, 2018 were as follows:
|  |  | As of September 30, 2018 |  |  |  |  |
| Company/Facility |  | Total Facility |  | Usage |  | Available Liquidity |  | Expiration Date |  | Primary Purpose |
|  |  | Millions |  |  |  |  |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facilities (A) |  | $ | 1,500 |  |  | $ | 393 |  |  | $ | 1,107 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSEG |  | $ | 1,500 |  |  | $ | 393 |  |  | $ | 1,107 |  |  |  |  |  |
| PSE&G |  |  |  |  |  |  |  |  |  |  |
| 5-year Credit Facility (A) |  | $ | 600 |  |  | $ | 56 |  |  | $ | 544 |  |  | Mar 2022 |  | Commercial Paper Support/Funding/Letters of Credit |
| Total PSE&G |  | $ | 600 |  |  | $ | 56 |  |  | $ | 544 |  |  |  |  |  |
| Power |  |  |  |  |  |  |  |  |  |  |
| 3-year Letter of Credit Facility |  | $ | 100 |  |  | $ | 62 |  |  | $ | 38 |  |  | Mar 2020 |  | Letters of Credit |
| 3-year Letter of Credit Facilities |  | 200 |  |  | 100 |  |  | $ | 100 |  |  | Sept 2021 |  | Letters of Credit |
| 5-year Credit Facilities |  | 1,900 |  |  | 51 |  |  | 1,849 |  |  | Mar 2022 |  | Funding/Letters of Credit |
| Total Power |  | $ | 2,200 |  |  | $ | 213 |  |  | $ | 1,987 |  |  |  |  |  |
| Total |  | $ | 4,300 |  |  | $ | 662 |  |  | $ | 3,638 |  |  |  |  |  |
(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, 2018, PSEG had $379 million outstanding at a weighted average interest rate of 2.54%. PSE&G had $40 million outstanding at a weighted average interest rate of 2.35% under its Commercial Paper Program as of September 30, 2018.

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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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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