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Related-Party Transactions | 3 Months Ended
--- | ---
Mar. 31, 2022
Related Party Transaction [Line Items] |
Related-Party Transactions | Related-Party Transactions The following discussion relates to intercompany transactions, which are eliminated during the PSEG consolidation process in accordance with GAAP. PSE&G The financial statements for PSE&G include transactions with related parties presented as follows:
|  |  |  | Three Months Ended |
|  |  |  | March 31, |
| Related-Party Transactions |  |  |  |  | 2022 |  | 2021 |
|  |  |  |  | Millions |
| Billings from Affiliates: |  |  |  |  |  |  |  |
| Net Billings from PSEG Power (A) |  |  |  |  | $ | 580 |  |  | $ | 495 |  |
| Administrative Billings from Services (B) |  |  |  |  | 99 |  |  | 87 |  |
| Total Billings from Affiliates |  |  |  |  | $ | 679 |  |  | $ | 582 |  |
|  | As of |  | As of |
| Related-Party Transactions | March 31, 2022 |  | December 31, 2021 |
|  | Millions |
| Payable to PSEG Power (A) | $ | 195 |  |  | $ | 244 |  |
| Payable to Services (B) | 87 |  |  | 111 |  |
| Payable to PSEG (C) | 138 |  |  | 63 |  |
| Accounts Payable—Affiliated Companies | $ | 420 |  |  | $ | 418 |  |
| Working Capital Advances to Services (D) | $ | 33 |  |  | $ | 33 |  |
| Long-Term Accrued Taxes Payable | $ | 6 |  |  | $ | 6 |  |
(A)PSE&G has entered into a requirements contract with PSEG Power under which PSEG Power provides the gas supply services needed to meet PSE&G’s BGSS and other contractual requirements. PSEG Power has also entered into contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process and sells ZECs to PSE&G under the ZEC program. The rates in the BGS and BGSS contracts and for the ZEC sales are prescribed by the BPU. BGS and BGSS sales are billed and settled on a monthly basis. ZEC sales are billed on a monthly basis and settled annually following completion of each energy year. In addition, PSEG Power and PSE&G provide certain technical services for each other generally at cost in compliance with FERC and BPU affiliate rules. (B)Services provides and bills administrative services to PSE&G at cost. In addition, PSE&G has other payables to Services, including amounts related to certain common costs, which Services pays on behalf of PSE&G. (C)PSEG files a consolidated federal income tax return with its affiliated companies. A tax allocation agreement exists between PSEG and each of its affiliated companies. The general operation of these agreements is that the subsidiary company will compute its taxable income on a stand-alone basis. If the result is a net tax liability, such amount shall be paid to PSEG. If there are NOLs and/or tax credits, the subsidiary shall receive payment for the tax savings from PSEG to the extent that PSEG is able to utilize those benefits. (D)PSE&G has advanced working capital to Services. The amount is included in Other Noncurrent Assets on PSE&G’s Condensed Consolidated Balance Sheets.
Public Service Electric and Gas Company [Member] |
Related Party Transaction [Line Items] |
Related-Party Transactions | Related-Party Transactions The following discussion relates to intercompany transactions, which are eliminated during the PSEG consolidation process in accordance with GAAP. PSE&G The financial statements for PSE&G include transactions with related parties presented as follows:
|  |  |  | Three Months Ended |
|  |  |  | March 31, |
| Related-Party Transactions |  |  |  |  | 2022 |  | 2021 |
|  |  |  |  | Millions |
| Billings from Affiliates: |  |  |  |  |  |  |  |
| Net Billings from PSEG Power (A) |  |  |  |  | $ | 580 |  |  | $ | 495 |  |
| Administrative Billings from Services (B) |  |  |  |  | 99 |  |  | 87 |  |
| Total Billings from Affiliates |  |  |  |  | $ | 679 |  |  | $ | 582 |  |
|  | As of |  | As of |
| Related-Party Transactions | March 31, 2022 |  | December 31, 2021 |
|  | Millions |
| Payable to PSEG Power (A) | $ | 195 |  |  | $ | 244 |  |
| Payable to Services (B) | 87 |  |  | 111 |  |
| Payable to PSEG (C) | 138 |  |  | 63 |  |
| Accounts Payable—Affiliated Companies | $ | 420 |  |  | $ | 418 |  |
| Working Capital Advances to Services (D) | $ | 33 |  |  | $ | 33 |  |
| Long-Term Accrued Taxes Payable | $ | 6 |  |  | $ | 6 |  |
(A)PSE&G has entered into a requirements contract with PSEG Power under which PSEG Power provides the gas supply services needed to meet PSE&G’s BGSS and other contractual requirements. PSEG Power has also entered into contracts to supply energy, capacity and ancillary services to PSE&G through the BGS auction process and sells ZECs to PSE&G under the ZEC program. The rates in the BGS and BGSS contracts and for the ZEC sales are prescribed by the BPU. BGS and BGSS sales are billed and settled on a monthly basis. ZEC sales are billed on a monthly basis and settled annually following completion of each energy year. In addition, PSEG Power and PSE&G provide certain technical services for each other generally at cost in compliance with FERC and BPU affiliate rules. (B)Services provides and bills administrative services to PSE&G at cost. In addition, PSE&G has other payables to Services, including amounts related to certain common costs, which Services pays on behalf of PSE&G. (C)PSEG files a consolidated federal income tax return with its affiliated companies. A tax allocation agreement exists between PSEG and each of its affiliated companies. The general operation of these agreements is that the subsidiary company will compute its taxable income on a stand-alone basis. If the result is a net tax liability, such amount shall be paid to PSEG. If there are NOLs and/or tax credits, the subsidiary shall receive payment for the tax savings from PSEG to the extent that PSEG is able to utilize those benefits. (D)PSE&G has advanced working capital to Services. The amount is included in Other Noncurrent Assets on PSE&G’s Condensed Consolidated Balance Sheets.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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