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v3.23.3

Financial Risk Management Activities (Tables) | 9 Months Ended
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Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items] |
Schedule Of Derivative Instruments Fair Value In Balance Sheets | The following tabular disclosure does not include the offsetting of trade receivables and payables.
|  |  | As of September 30, 2023 |
|  |  | PSEG |  | PSEG Power |  | Consolidated |
|  |  | Cash Flow Hedges |  | Not Designated |  |  |  |  |  |  |
| Balance Sheet Location |  | Interest Rate Swaps |  | Energy- Related Contracts |  | Netting (A) |  | Total PSEG Power |  | Total Derivatives |
|  |  | Millions |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |
| Current Assets |  | $ | 25 |  |  | $ | 739 |  |  | $ | (694) |  |  | $ | 45 |  |  | $ | 70 |  |
| Noncurrent Assets |  | 3 |  |  | 482 |  |  | (449) |  |  | 33 |  |  | 36 |  |
| Total Mark-to-Market Derivative Assets |  | $ | 28 |  |  | $ | 1,221 |  |  | $ | (1,143) |  |  | $ | 78 |  |  | $ | 106 |  |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |
| Current Liabilities |  | $ | — |  |  | $ | (906) |  |  | $ | 846 |  |  | $ | (60) |  |  | $ | (60) |  |
| Noncurrent Liabilities |  | — |  |  | (545) |  |  | 540 |  |  | (5) |  |  | (5) |  |
| Total Mark-to-Market Derivative (Liabilities) |  | $ | — |  |  | $ | (1,451) |  |  | $ | 1,386 |  |  | $ | (65) |  |  | $ | (65) |  |
| Total Net Mark-to-Market Derivative Assets (Liabilities) |  | $ | 28 |  |  | $ | (230) |  |  | $ | 243 |  |  | $ | 13 |  |  | $ | 41 |  |
|  |  | As of December 31, 2022 |
|  |  | PSEG |  | PSEG Power |  | Consolidated |
|  |  | Cash Flow Hedges |  | Not Designated |  |  |  |  |  |  |
| Balance Sheet Location |  | Interest Rate Swaps |  | Energy- Related Contracts |  | Netting (A) |  | Total PSEG Power |  | Total Derivatives |
|  |  | Millions |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |
| Current Assets |  | $ | 4 |  |  | $ | 1,721 |  |  | $ | (1,707) |  |  | $ | 14 |  |  | $ | 18 |  |
| Noncurrent Assets |  | — |  |  | 629 |  |  | (614) |  |  | 15 |  |  | 15 |  |
| Total Mark-to-Market Derivative Assets |  | $ | 4 |  |  | $ | 2,350 |  |  | $ | (2,321) |  |  | $ | 29 |  |  | $ | 33 |  |
| Derivative Contracts |  |  |  |  |  |  |  |  |  |  |
| Current Liabilities |  | $ | — |  |  | $ | (2,447) |  |  | $ | 2,323 |  |  | $ | (124) |  |  | $ | (124) |  |
| Noncurrent Liabilities |  | (3) |  |  | (1,139) |  |  | 1,109 |  |  | (30) |  |  | (33) |  |
| Total Mark-to-Market Derivative (Liabilities) |  | $ | (3) |  |  | $ | (3,586) |  |  | $ | 3,432 |  |  | $ | (154) |  |  | $ | (157) |  |
| Total Net Mark-to-Market Derivative Assets (Liabilities) |  | $ | 1 |  |  | $ | (1,236) |  |  | $ | 1,111 |  |  | $ | (125) |  |  | $ | (124) |  |
(A) Represents the netting of fair value balances with the same counterparty (where the right of offset exists) and the application of collateral. All cash collateral (received) posted that has been allocated to derivative positions, where the right of offset exists, has been offset on the Condensed Consolidated Balance Sheets. As of September 30, 2023 and December 31, 2022, PSEG Power had net cash collateral (receipts) payments to counterparties of $346 million and $1,521 million, respectively. Of these net cash collateral (receipts) payments, $243 million and $1,111 million as of September 30, 2023 and December 31, 2022, respectively, were netted against the corresponding net derivative contract positions. Of the $243 million as of September 30, 2023, $152 million was netted against current liabilities and $91 million against noncurrent liabilities. Of the $1,111 million as of December 31, 2022, $616 million was netted against current liabilities and $495 million against noncurrent liabilities.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following shows the effect on the Condensed Consolidated Statements of Operations and on Accumulated Other Comprehensive Loss (AOCL) of derivative instruments designated as cash flow hedges for the three months and nine months ended September 30, 2023 and 2022:
| Derivatives in Cash Flow Hedging Relationships |  | Amount of Pre-Tax Gain (Loss) Recognized in AOCL on Derivatives |  | Location of Pre-Tax Gain (Loss) Reclassified from AOCL into Income |  | Amount of Pre-Tax Gain (Loss) Reclassified from AOCL into Income |
|  | Three Months Ended |  |  |  | Three Months Ended |
|  | September 30, |  |  |  | September 30, |
|  | 2023 |  | 2022 |  |  |  | 2023 |  | 2022 |
|  |  | Millions |  |  |  | Millions |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| Interest Rate Swaps |  | $ | 18 |  |  | $ | — |  |  | Interest Expense |  | $ | 3 |  |  | $ | (1) |  |
| Total PSEG |  | $ | 18 |  |  | $ | — |  |  |  |  | $ | 3 |  |  | $ | (1) |  |
| Derivatives in Cash Flow Hedging Relationships |  | Amount of Pre-Tax Gain (Loss) Recognized in AOCL on Derivatives |  | Location of Pre-Tax Gain (Loss) Reclassified from AOCL into Income |  | Amount of Pre-Tax Gain (Loss) Reclassified from AOCL into Income |
|  | Nine Months Ended |  |  |  | Nine Months Ended |
|  | September 30, |  |  |  | September 30, |
|  | 2023 |  | 2022 |  |  |  | 2023 |  | 2022 |
|  |  | Millions |  |  |  | Millions |
| PSEG |  |  |  |  |  |  |  |  |  |  |
| Interest Rate Swaps |  | $ | 32 |  |  | $ | — |  |  | Interest Expense |  | $ | 3 |  |  | $ | (3) |  |
| Total PSEG |  | $ | 32 |  |  | $ | — |  |  |  |  | $ | 3 |  |  | $ | (3) |  |
The effect of interest rate cash flow hedges is recorded in Interest Expense in PSEG’s Condensed Consolidated Statement of Operations. For each of the three months and nine months ended September 30, 2023, the amount of gain (loss) on interest rate hedges reclassified from Accumulated Other Comprehensive Loss into income was $2 million after-tax. For the three months and nine months ended September 30, 2022, the amount of gain (loss) on interest rate hedges reclassified from Accumulated Other Comprehensive Loss into income was $(1) million and $(2) million after-tax, respectively.
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | The following reconciles the Accumulated Other Comprehensive Income (Loss) for derivative activity included in AOCL of PSEG on a pre-tax and after-tax basis.
| Accumulated Other Comprehensive Income (Loss) |  | Pre-Tax |  | After-Tax |
|  |  | Millions |
| Balance as of December 31, 2021 |  | $ | (9) |  |  | $ | (6) |  |
| Loss Recognized in AOCL |  | — |  |  | — |  |
| Less: Loss Reclassified into Income |  | 5 |  |  | 3 |  |
| Balance as of December 31, 2022 |  | $ | (4) |  |  | $ | (3) |  |
| Gain Recognized in AOCL |  | 32 |  |  | 23 |  |
| Less: Gain Reclassified into Income |  | (3) |  |  | (2) |  |
| Balance as of September 30, 2023 |  | $ | 25 |  |  | $ | 18 |  |
Schedule Of Derivative Instruments Not Designated As Hedging Instruments And Impact On Results Of Operations | The following shows the effect on the Condensed Consolidated Statements of Operations of derivative instruments not designated as hedging instruments or as NPNS for the three months and nine months ended September 30, 2023 and 2022, respectively. PSEG Power’s derivative contracts reflected in this table include contracts to hedge the purchase and sale of electricity and natural gas, and the purchase of fuel.
| Derivatives Not Designated as Hedges |  | Location of Pre-Tax Gain (Loss) Recognized in Income on Derivatives |  | Pre-Tax Gain (Loss) Recognized in Income on Derivatives |
|  |  |  |  | Three Months Ended |  | Nine Months Ended |
|  |  |  |  | September 30, |  | September 30, |
|  |  |  |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
|  |  |  |  | Millions |  | Millions |
| Energy-Related Contracts |  | Operating Revenues |  | $ | 3 |  |  | $ | (696) |  |  | $ | 1,244 |  |  | $ | (2,094) |  |
| Energy-Related Contracts |  | Energy Costs |  | — |  |  | 2 |  |  | — |  |  | 1 |  |
| Total |  |  |  | $ | 3 |  |  | $ | (694) |  |  | $ | 1,244 |  |  | $ | (2,093) |  |
Schedule Of Gross Volume, On Absolute Value Basis For Derivative Contracts | The following table summarizes the net notional volume purchases/(sales) of open derivative transactions by commodity as of September 30, 2023 and December 31, 2022.
|  |  |  |  | As of |  | As of |
| Type |  | Notional |  | September 30, 2023 |  | December 31, 2022 |
|  |  |  |  | Millions |
| Natural Gas |  | Dekatherm (Dth) |  | 59 |  |  | 49 |  |
| Electricity |  | MWh |  | (60) |  |  | (60) |  |
| Financial Transmission Rights (FTRs) |  | MWh |  | 23 |  |  | 24 |  |
| Interest Rate Swaps |  | U.S. Dollars |  | 1,700 |  |  | 1,050 |  |

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