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v3.23.1

Revenues Revenues (Tables) | 3 Months Ended
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Mar. 31, 2023
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue [Table Text Block] | Disaggregation of Revenues
|  | PSE&G |  | PSEG Power & Other (A) |  | Eliminations |  | Consolidated |
|  | Millions |
| Three Months Ended March 31, 2023 |  |  |  |  |  |  |  |
| Revenues from Contracts with Customers |  |  |  |  |  |  |  |
| Electric Distribution | $ | 730 |  |  | $ | — |  |  | $ | — |  |  | $ | 730 |  |
| Gas Distribution | 959 |  |  | — |  |  | (1) |  |  | 958 |  |
| Transmission | 425 |  |  | — |  |  | — |  |  | 425 |  |
| Electricity and Related Product Sales |  |  |  |  |  |  |  |
| PJM |  |  |  |  |  |  |  |
| Third-Party Sales | — |  |  | 276 |  |  | — |  |  | 276 |  |
| Sales to Affiliates | — |  |  | 31 |  |  | (31) |  |  | — |  |
| NYISO | — |  |  | — |  |  | — |  |  | — |  |
| ISO-NE | — |  |  | 3 |  |  | — |  |  | 3 |  |
| Gas Sales |  |  |  |  |  |  |  |
| Third-Party Sales | — |  |  | 86 |  |  | — |  |  | 86 |  |
| Sales to Affiliates | — |  |  | 533 |  |  | (533) |  |  | — |  |
| Other Revenues from Contracts with Customers (B) | 78 |  |  | 153 |  |  | — |  |  | 231 |  |
| Total Revenues from Contracts with Customers | 2,192 |  |  | 1,082 |  |  | (565) |  |  | 2,709 |  |
| Revenues Unrelated to Contracts with Customers (C) | 101 |  |  | 945 |  |  | — |  |  | 1,046 |  |
| Total Operating Revenues | $ | 2,293 |  |  | $ | 2,027 |  |  | $ | (565) |  |  | $ | 3,755 |  |
|  | PSE&G |  | PSEG Power & Other (A) |  | Eliminations |  | Consolidated |
|  | Millions |
| Three Months Ended March 31, 2022 |  |  |  |  |  |  |  |
| Revenues from Contracts with Customers |  |  |  |  |  |  |  |
| Electric Distribution | $ | 720 |  |  | $ | — |  |  | $ | — |  |  | $ | 720 |  |
| Gas Distribution | 1,047 |  |  | — |  |  | (1) |  |  | 1,046 |  |
| Transmission | 392 |  |  | — |  |  | — |  |  | 392 |  |
| Electricity and Related Product Sales |  |  |  |  |  |  |  |
| PJM |  |  |  |  |  |  |  |
| Third-Party Sales | — |  |  | 582 |  |  | — |  |  | 582 |  |
| Sales to Affiliates | — |  |  | 56 |  |  | (56) |  |  | — |  |
| NYISO | — |  |  | 88 |  |  | — |  |  | 88 |  |
| ISO-NE | — |  |  | 86 |  |  | — |  |  | 86 |  |
| Gas Sales |  |  |  |  |  |  |  |
| Third-Party Sales | — |  |  | 136 |  |  | — |  |  | 136 |  |
| Sales to Affiliates | — |  |  | 526 |  |  | (526) |  |  | — |  |
| Other Revenues from Contracts with Customers (B) | 85 |  |  | 146 |  |  | (1) |  |  | 230 |  |
| Total Revenues from Contracts with Customers | 2,244 |  |  | 1,620 |  |  | (584) |  |  | 3,280 |  |
| Revenues Unrelated to Contracts with Customers (C) | 40 |  |  | (1,007) |  |  | — |  |  | (967) |  |
| Total Operating Revenues | $ | 2,284 |  |  | $ | 613 |  |  | $ | (584) |  |  | $ | 2,313 |  |
(A)Includes revenues applicable to PSEG Power, PSEG LI and Energy Holdings. (B)Includes primarily revenues from appliance repair services and the sale of solar renewable energy credits (SRECs) at auction at PSE&G. PSEG Power & Other includes PSEG LI’s OSA with LIPA and PSEG Power’s energy management fee with LIPA. (C)Includes primarily alternative revenues at PSE&G principally from the CIP program and derivative contracts and lease contracts at PSEG Power & Other.
Accounts Receivable, Allowance for Credit Loss [Table Text Block] | The following provides a reconciliation of PSE&G’s allowance for credit losses for the three months ended March 31, 2023 and 2022:
|  |  | 2023 |  | 2022 |
|  |  | Millions |
| Balance as of Beginning of Year | $ | 339 |  |  | $ | 337 |  |
| Utility Customer and Other Accounts |  |  |  |
|  | Provision | 9 |  |  | 33 |  |
|  | Write-offs, net of Recoveries of $7 million and $8 million in 2023 and 2022, respectively | (29) |  |  | (19) |  |
| Balance as of End of Period | $ | 319 |  |  | $ | 351 |  |
Revenue, Capacity Auction Obligations [Table Text Block] | Capacity Revenues from the PJM Annual Base Residual and Incremental Auctions—The Base Residual Auction is generally conducted annually three years in advance of the operating period. The 2022/2023 auction was held in June 2021 and the 2023/2024 auction was held in June 2022. In February 2023, the results of the 2024/2025 auction held in December 2022 were released. PSEG Power expects to realize the following average capacity prices resulting from the base and incremental auctions, including unit specific bilateral contracts for previously cleared capacity obligations.
| Delivery Year |  | $ per MW-Day |  | MW Cleared |  |
| June 2022 to May 2023 |  | $97 |  | 3,300 |  |  |
| June 2023 to May 2024 |  | $49 |  | 3,700 |  |  |
| June 2024 to May 2025 |  | $55 |  | 3,500 |  |  |
Capacity transactions with the PJM Regional Transmission Organization are reported on a net basis dependent on PSEG Power’s monthly net sale or purchase position.

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