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Related-Party Transactions (Tables) - Public Service Electric and Gas Company [Member]
 9 Months Ended
Sep. 30, 2025
Related Party Transaction [Line Items]  
Schedule of Related Party Transactions, Revenue

The financial statements for PSE&G include transactions with related parties presented as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

 

 

September 30,

 

 

September 30,

 

 

 

Related-Party Transactions

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

Millions

 

 

 

Net Billings from PSEG Power (A)

 

$

58

 

 

$

78

 

 

$

734

 

 

$

645

 

 

 

Administrative Billings from Services (B)

 

 

139

 

 

 

122

 

 

 

382

 

 

 

375

 

 

 

Total Billings from Affiliates

 

$

197

 

 

$

200

 

 

$

1,116

 

 

$

1,020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Schedule of Related Party Transactions, Payables

 

 

 

 

 

 

 

 

 

 

 

 

As of

 

 

As of

 

 

 

Related-Party Transactions

 

September 30, 2025

 

 

December 31, 2024

 

 

 

 

 

Millions

 

 

 

Net Payable to PSEG Power (A)

 

$

28

 

 

$

209

 

 

 

Net Payable to Services (B)

 

 

98

 

 

 

116

 

 

 

Net Payable to PSEG (C)

 

 

214

 

 

 

37

 

 

 

Accounts Payable—Affiliated Companies

 

$

340

 

 

$

362

 

 

 

Working Capital Advances to Services (D)

 

$

33

 

 

$

33

 

 

 

Long-Term Accrued Taxes Payable (Receivable) (C)

 

$

5

 

 

$

(2

)

 

 

 

 

 

 

 

 

 

 

 

(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. In addition, PSEG Power sold ZECs to PSE&G from its nuclear units under the ZEC program as approved by the BPU. The rates in the BGSS contract and for the ZEC sales were prescribed by the BPU. BGSS sales were billed and settled on a monthly basis. ZEC sales were billed on a monthly basis and settled annually following completion of each energy year. The ZEC program ended effective June 1, 2025, with the final ZEC payment from PSE&G to PSEG Power settled in August 2025. 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 pays net wages and payroll taxes and receives reimbursement from its affiliated companies for their respective portions. PSEG and its subsidiaries file a consolidated federal income tax return and PSEG and PSE&G file state income tax returns, some of which are combined or unitary. Income taxes are allocated to PSEG’s subsidiaries in accordance with a tax allocation agreement whereby each PSEG subsidiary’s current and deferred tax expense is computed on a stand-alone basis. Each subsidiary is allocated an amount of tax similar to that which would be paid if it filed a separate income tax return, except for certain tax attributes and state apportionment results. 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. Long-Term Accrued Taxes Receivable and Payable are included in Other Noncurrent Assets and Liabilities, respectively, on PSE&G’s Consolidated Balance Sheets.
(D)
PSE&G has advanced working capital to Services. The amount is included in Other Noncurrent Assets on PSE&G’s Consolidated Balance Sheets.