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Rate Filings | 6 Months Ended
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Jun. 30, 2019
Regulatory Assets [Line Items] |
Rate Filings | Rate Filings This Note should be read in conjunction with Note 7. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2018. In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with FERC and the BPU by PSE&G are as follows: Transmission Formula Rate Filings—In June 2019, PSE&G filed its 2018 true-up adjustment pertaining to its transmission formula rates in effect for 2018. This filing resulted in an additional revenue requirement adjustment of $52 million more than the 2018 originally filed revenue requirement. PSE&G had previously recognized the majority of the additional revenue requirement in its 2018 Consolidated Statement of Operations. Green Program Recovery Charges (GPRC)—In June 2019, PSE&G filed its 2019 GPRC cost recovery petition requesting recovery of approximately $52 million and $11 million in electric and gas revenues, respectively, on an annual basis. This matter is pending. Gas System Modernization Program II (GSMP II)—In June 2019, PSE&G filed its first GSMP II cost recovery petition seeking BPU approval to recover in gas base rates an estimated annual revenue increase of $20 million effective December 1, 2019. This increase represents the return on and of GSMP II investments expected to be in service through August 31, 2019. This request will be updated in September 2019 for actual costs. Gas System Modernization Program I (GSMP I)—In July 2019, PSE&G updated its final GSMP I cost recovery petition to include GSMP I investments in service as of June 30, 2019. The petition seeks BPU approval to recover in gas base rates an estimated annual revenue increase of $11 million effective October 1, 2019. Zero Emission Certificate (ZEC) Program—In April 2019, the BPU authorized the New Jersey EDCs, including PSE&G, to purchase ZECs from eligible nuclear plants selected by the BPU. In conjunction with this Order, the BPU authorized tariffs to collect a non-bypassable distribution charge in the amount of $0.004 per kilowatt-hour from each EDC’s retail distribution customers to be used to purchase ZECs from the selected plants. Each EDC purchases ZECs on a monthly basis with payment to be made annually following completion of each energy year. Under the program, any revenue collected in excess of the purchase price will be refunded to customers in the following year. Weather Normalization Clause (WNC)—In March 2019, the BPU gave final approval to PSE&G’s 2017-2018 WNC petition allowing a net recovery of $14 million to be collected over the 2018-2019 Winter Period with the new rate effective November 1, 2018. The $14 million net recovery is the result of $9 million of excess revenues from the colder-than-normal 2017-2018 Winter Period offset by $23 million of remaining prior Winter Period undercollection. In June 2019, PSE&G filed its 2018-2019 WNC petition seeking to return to customers an overcollection of $8 million to be refunded to customers over the 2019-2020 Winter Period. The $8 million overcollection is the result of excess revenues from the colder-than-normal 2018-2019 Winter Period. BGSS—In March 2019, the BPU approved the final BGSS rates which were effective October 1, 2018. In May 2019, PSE&G made its annual BGSS filing with the BPU requesting a decrease in the annual BGSS revenues of $13 million. If approved, the BGSS rate would be decreased from approximately 35 cents to 34 cents per therm for residential gas customers to be effective October 1, 2019. This matter is pending.
Public Service Electric and Gas Company [Member] |
Regulatory Assets [Line Items] |
Rate Filings | Rate Filings This Note should be read in conjunction with Note 7. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2018. In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with FERC and the BPU by PSE&G are as follows: Transmission Formula Rate Filings—In June 2019, PSE&G filed its 2018 true-up adjustment pertaining to its transmission formula rates in effect for 2018. This filing resulted in an additional revenue requirement adjustment of $52 million more than the 2018 originally filed revenue requirement. PSE&G had previously recognized the majority of the additional revenue requirement in its 2018 Consolidated Statement of Operations. Green Program Recovery Charges (GPRC)—In June 2019, PSE&G filed its 2019 GPRC cost recovery petition requesting recovery of approximately $52 million and $11 million in electric and gas revenues, respectively, on an annual basis. This matter is pending. Gas System Modernization Program II (GSMP II)—In June 2019, PSE&G filed its first GSMP II cost recovery petition seeking BPU approval to recover in gas base rates an estimated annual revenue increase of $20 million effective December 1, 2019. This increase represents the return on and of GSMP II investments expected to be in service through August 31, 2019. This request will be updated in September 2019 for actual costs. Gas System Modernization Program I (GSMP I)—In July 2019, PSE&G updated its final GSMP I cost recovery petition to include GSMP I investments in service as of June 30, 2019. The petition seeks BPU approval to recover in gas base rates an estimated annual revenue increase of $11 million effective October 1, 2019. Zero Emission Certificate (ZEC) Program—In April 2019, the BPU authorized the New Jersey EDCs, including PSE&G, to purchase ZECs from eligible nuclear plants selected by the BPU. In conjunction with this Order, the BPU authorized tariffs to collect a non-bypassable distribution charge in the amount of $0.004 per kilowatt-hour from each EDC’s retail distribution customers to be used to purchase ZECs from the selected plants. Each EDC purchases ZECs on a monthly basis with payment to be made annually following completion of each energy year. Under the program, any revenue collected in excess of the purchase price will be refunded to customers in the following year. Weather Normalization Clause (WNC)—In March 2019, the BPU gave final approval to PSE&G’s 2017-2018 WNC petition allowing a net recovery of $14 million to be collected over the 2018-2019 Winter Period with the new rate effective November 1, 2018. The $14 million net recovery is the result of $9 million of excess revenues from the colder-than-normal 2017-2018 Winter Period offset by $23 million of remaining prior Winter Period undercollection. In June 2019, PSE&G filed its 2018-2019 WNC petition seeking to return to customers an overcollection of $8 million to be refunded to customers over the 2019-2020 Winter Period. The $8 million overcollection is the result of excess revenues from the colder-than-normal 2018-2019 Winter Period. BGSS—In March 2019, the BPU approved the final BGSS rates which were effective October 1, 2018. In May 2019, PSE&G made its annual BGSS filing with the BPU requesting a decrease in the annual BGSS revenues of $13 million. If approved, the BGSS rate would be decreased from approximately 35 cents to 34 cents per therm for residential gas customers to be effective October 1, 2019. This matter is pending.

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