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Trust Investments (Tables) | 12 Months Ended
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Dec. 31, 2021
Nuclear Decommissioning Trust (NDT) Fund [Member] |
Schedule of Trust Investments [Line Items] |
Schedule of Available-for-sale Securities Reconciliation | The following tables show the fair values and gross unrealized gains and losses for the securities held in the NDT Fund.
|  |  | As of December 31, 2021 |
|  |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
|  |  | Millions |
| Equity Securities |  |  |  |  |  |  |  |  |
| Domestic |  | $ | 491 |  |  | $ | 363 |  |  | $ | (3) |  |  | $ | 851 |  |
| International |  | 346 |  |  | 119 |  |  | (15) |  |  | 450 |  |
| Total Equity Securities |  | 837 |  |  | 482 |  |  | (18) |  |  | 1,301 |  |
| Available-for-Sale Debt Securities |  |  |  |  |  |  |  |  |
| Government |  | 683 |  |  | 12 |  |  | (8) |  |  | 687 |  |
| Corporate |  | 637 |  |  | 16 |  |  | (6) |  |  | 647 |  |
| Total Available-for-Sale Debt Securities |  | 1,320 |  |  | 28 |  |  | (14) |  |  | 1,334 |  |
| Total NDT Fund Investments (A) |  | $ | 2,157 |  |  | $ | 510 |  |  | $ | (32) |  |  | $ | 2,635 |  |
(A) The NDT Fund Investments table excludes foreign currency of $2 million as of December 31, 2021, which is part of the NDT Fund.
|  |  | As of December 31, 2020 |
|  |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
|  |  | Millions |
| Equity Securities |  |  |  |  |  |  |  |  |
| Domestic |  | $ | 519 |  |  | $ | 305 |  |  | $ | (3) |  |  | $ | 821 |  |
| International |  | 388 |  |  | 152 |  |  | (9) |  |  | 531 |  |
| Total Equity Securities |  | 907 |  |  | 457 |  |  | (12) |  |  | 1,352 |  |
| Available-for-Sale Debt Securities |  |  |  |  |  |  |  |  |
| Government |  | 555 |  |  | 27 |  |  | (1) |  |  | 581 |  |
| Corporate |  | 528 |  |  | 39 |  |  | (1) |  |  | 566 |  |
| Total Available-for-Sale Debt Securities |  | 1,083 |  |  | 66 |  |  | (2) |  |  | 1,147 |  |
| Total NDT Fund Investments (A) |  | $ | 1,990 |  |  | $ | 523 |  |  | $ | (14) |  |  | $ | 2,499 |  |
(A) The NDT Fund Investments table excludes foreign currency of $2 million as of December 31, 2020, which is part of the NDT Fund.
Schedule Of Accounts Receivable And Accounts Payable | The amounts in the preceding tables do not include receivables and payables for NDT Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Consolidated Balance Sheets as shown in the following table.
|  |  | As of December 31, |
|  |  | 2021 |  | 2020 |
|  |  | Millions |
| Accounts Receivable |  | $ | 11 |  |  | $ | 11 |  |
| Accounts Payable |  | $ | 11 |  |  | $ | 12 |  |
Value Of Securities That Have Been In An Unrealized Loss Position For Less Than And Greater Than 12 Months | The following table shows the value of securities in the NDT Fund that have been in an unrealized loss position for less than and greater than 12 months.
|  |  | As of December 31, 2021 |  | As of December 31, 2020 |
|  |  | Less Than 12 Months |  | Greater Than 12 Months |  | Less Than 12 Months |  | Greater Than 12 Months |
|  |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |
|  |  | Millions |
| Equity Securities (A) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Domestic |  | $ | 69 |  |  | $ | (3) |  |  | $ | — |  |  | $ | — |  |  | $ | 23 |  |  | $ | (2) |  |  | $ | 6 |  |  | $ | (1) |  |
| International |  | 76 |  |  | (13) |  |  | 9 |  |  | (2) |  |  | 26 |  |  | (2) |  |  | 27 |  |  | (7) |  |
| Total Equity Securities |  | 145 |  |  | (16) |  |  | 9 |  |  | (2) |  |  | 49 |  |  | (4) |  |  | 33 |  |  | (8) |  |
| Available-for-Sale Debt Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Government (B) |  | 332 |  |  | (5) |  |  | 67 |  |  | (3) |  |  | 72 |  |  | (1) |  |  | — |  |  | — |  |
| Corporate (C) |  | 306 |  |  | (4) |  |  | 30 |  |  | (2) |  |  | 31 |  |  | (1) |  |  | 7 |  |  | — |  |
| Total Available-for-Sale Debt Securities |  | 638 |  |  | (9) |  |  | 97 |  |  | (5) |  |  | 103 |  |  | (2) |  |  | 7 |  |  | — |  |
| NDT Trust Investments |  | $ | 783 |  |  | $ | (25) |  |  | $ | 106 |  |  | $ | (7) |  |  | $ | 152 |  |  | $ | (6) |  |  | $ | 40 |  |  | $ | (8) |  |
(A)Equity Securities—Investments in marketable equity securities within the NDT Fund are primarily in common stocks within a broad range of industries and sectors. Unrealized gains and losses on these securities are recorded in Net Income. (B)Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG Power’s NDT investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG Power also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG Power did not recognize credit losses for municipal bonds because they are primarily investment grade securities. (C)Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG Power does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG Power did not recognize credit losses for these corporate bonds because they are primarily investment grade securities.
Amount Of Available-For-Sale Debt Securities By Maturity Periods | The NDT Fund debt securities held as of December 31, 2021 had the following maturities:
| Time Frame |  | Fair Value |
|  |  | Millions |
| Less than one year |  | $ | 24 |  |
| 1 - 5 years |  | 335 |  |
| 6 - 10 years |  | 234 |  |
| 11 - 15 years |  | 84 |  |
| 16 - 20 years |  | 113 |  |
| Over 20 years |  | 544 |  |
| Total NDT Available-for-Sale Debt Securities |  | $ | 1,334 |  |
Schedule of Realized Gain (Loss) | The proceeds from the sales of and the net gains on securities in the NDT Fund were:
|  |  | Years Ended December 31, |
|  |  | 2021 |  | 2020 |  | 2019 |
|  |  | Millions |
| Proceeds from Sales (A) |  | $ | 1,930 |  |  | $ | 2,031 |  |  | $ | 1,614 |  |
| Net Realized Gains (Losses): |  |  |  |  |  |  |
| Gross Realized Gains |  | $ | 236 |  |  | $ | 214 |  |  | $ | 107 |  |
| Gross Realized Losses |  | (70) |  |  | (94) |  |  | (53) |  |
| Net Realized Gains (Losses) on NDT Fund (B) |  | 166 |  |  | 120 |  |  | 54 |  |
| Net Unrealized Gains (Losses) on Equity Securities |  | 19 |  |  | 120 |  |  | 196 |  |
| Impairment of Available-for-Sale Debt Securities (C) |  | — |  |  | (3) |  |  | — |  |
| Net Gains (Losses) on NDT Fund Investments |  | $ | 185 |  |  | $ | 237 |  |  | $ | 250 |  |
(A)Includes activity in accounts related to the liquidation of funds being transitioned within the trust. (B)The cost of these securities was determined on the basis of specific identification. (C)PSEG Power recognized an impairment of available-for-sale debt securities in 2020. PSEG Power’s policy is to sell all securities that are rated below investment grade.
Rabbi Trust [Member] |
Schedule of Trust Investments [Line Items] |
Schedule of Available-for-sale Securities Reconciliation |
|  |  | As of December 31, 2021 |
|  |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
|  |  | Millions |
| Domestic Equity Securities |  | $ | 14 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 26 |  |
| Available-for-Sale Debt Securities |  |  |  |  |  |  |  |  |
| Government |  | 107 |  |  | 1 |  |  | (1) |  |  | 107 |  |
| Corporate |  | 105 |  |  | 5 |  |  | (1) |  |  | 109 |  |
| Total Available-for-Sale Debt Securities |  | 212 |  |  | 6 |  |  | (2) |  |  | 216 |  |
| Total Rabbi Trust Investments |  | $ | 226 |  |  | $ | 18 |  |  | $ | (2) |  |  | $ | 242 |  |
|  |  | As of December 31, 2020 |
|  |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
|  |  | Millions |
| Domestic Equity Securities |  | $ | 21 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 31 |  |
| Available-for-Sale Debt Securities |  |  |  |  |  |  |  |  |
| Government |  | 94 |  |  | 6 |  |  | — |  |  | 100 |  |
| Corporate |  | 123 |  |  | 12 |  |  | — |  |  | 135 |  |
| Total Available-for-Sale Debt Securities |  | 217 |  |  | 18 |  |  | — |  |  | 235 |  |
| Total Rabbi Trust Investments |  | $ | 238 |  |  | $ | 28 |  |  | $ | — |  |  | $ | 266 |  |
Schedule Of Accounts Receivable And Accounts Payable | The amounts in the preceding tables do not include receivables and payables for Rabbi Trust Fund transactions which have not settled at the end of each period. Such amounts are included in Accounts Receivable and Accounts Payable on the Consolidated Balance Sheets as shown in the following table.
|  |  | As of December 31, |
|  |  | 2021 |  | 2020 |
|  |  | Millions |
| Accounts Receivable |  | $ | 1 |  |  | $ | 1 |  |
| Accounts Payable |  | $ | — |  |  | $ | 1 |  |
Value Of Securities That Have Been In An Unrealized Loss Position For Less Than And Greater Than 12 Months | The following table shows the value of securities in the Rabbi Trust Fund that have been in an unrealized loss position for less than and greater than 12 months:
|  |  | As of December 31, 2021 |  | As of December 31, 2020 |
|  |  | Less Than 12 Months |  | Greater Than 12 Months |  | Less Than 12 Months |  | Greater Than 12 Months |
|  |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |
|  |  | Millions |
| Available-for-Sale Debt Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Government (A) |  | $ | 57 |  |  | $ | — |  |  | $ | 16 |  |  | $ | (1) |  |  | $ | 19 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
| Corporate (B) |  | 40 |  |  | (1) |  |  | 5 |  |  | — |  |  | 2 |  |  | — |  |  | 1 |  |  | — |  |
| Total Available-for-Sale Debt Securities |  | 97 |  |  | (1) |  |  | 21 |  |  | (1) |  |  | 21 |  |  | — |  |  | 1 |  |  | — |  |
| Rabbi Trust Investments |  | $ | 97 |  |  | $ | (1) |  |  | $ | 21 |  |  | $ | (1) |  |  | $ | 21 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |
(A)Debt Securities (Government)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). The unrealized losses on PSEG’s Rabbi Trust investments in U.S. Treasury obligations and Federal Agency mortgage-backed securities were caused by interest rate changes. PSEG also has investments in municipal bonds. It is not expected that these securities will settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for U.S. Treasury obligations and Federal Agency mortgage-backed securities because these investments are guaranteed by the U.S. government or an agency of the U.S. government. PSEG did not recognize credit losses for municipal bonds because they are primarily investment grade securities. (B)Debt Securities (Corporate)—Unrealized gains and losses on these securities are recorded in Accumulated Other Comprehensive Income (Loss). Unrealized losses were due to market declines. It is not expected that these securities would settle for less than their amortized cost. PSEG does not intend to sell these securities nor will it be more-likely-than-not required to sell before recovery of their amortized cost. PSEG did not recognize credit losses for these corporate bonds because they are primarily investment grade.
Amount Of Available-For-Sale Debt Securities By Maturity Periods | he Rabbi Trust debt securities held as of December 31, 2021 had the following maturities:
| Time Frame |  | Fair Value |
|  |  | Millions |
| Less than one year |  | $ | — |  |
| 1 - 5 years |  | 40 |  |
| 6 - 10 years |  | 24 |  |
| 11 - 15 years |  | 10 |  |
| 16 - 20 years |  | 25 |  |
| Over 20 years |  | 117 |  |
| Total Rabbi Trust Available-for-Sale Debt Securities |  | $ | 216 |  |
Schedule of Realized Gain (Loss) | The proceeds from the sales of and the net gains on securities in the Rabbi Trust Fund were:
|  |  | Years Ended December 31, |
|  |  | 2021 |  | 2020 |  | 2019 |
|  |  | Millions |
| Proceeds from Rabbi Trust Sales |  | $ | 170 |  |  | $ | 203 |  |  | $ | 173 |  |
| Net Realized Gains (Losses): |  |  |  |  |  |  |
| Gross Realized Gains |  | $ | 16 |  |  | $ | 19 |  |  | $ | 7 |  |
| Gross Realized Losses |  | (8) |  |  | (6) |  |  | (3) |  |
| Net Realized Gains (Losses) on Rabbi Trust (A) |  | 8 |  |  | 13 |  |  | 4 |  |
| Net Unrealized Gains (Losses) on Equity Securities |  | 1 |  |  | 3 |  |  | 6 |  |
| Net Gains (Losses) on Rabbi Trust Investments |  | $ | 9 |  |  | $ | 16 |  |  | $ | 10 |  |
(A)The cost of these securities was determined on the basis of specific identification.
Rabbi Trust Fair Value by Company | The fair value of the Rabbi Trust related to PSEG and PSE&G are detailed as follows:
|  |  | As of December 31, |  | As of December 31, |
|  |  | 2021 |  | 2020 |
|  |  | Millions |
| PSE&G |  | $ | 43 |  |  | $ | 51 |  |
| Other |  | 199 |  |  | 215 |  |
| Total Rabbi Trust Investments |  | $ | 242 |  |  | $ | 266 |  |

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