PEG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-05

• For the years 2026-2030, our regulated capital investment program is estimated to be in a range of $22.5 billion to $25.5 billion. We expect these capital investments to result in a compound annual growth rate in our regulated rate base in a range of 6.0% to 7.5% from year-end 2025 to year-end 2030.…

• Modernization Program (GSMP) and Clean Energy Future (CEF)-EE program, as these programs are expected to continue beyond their currently approved time frames. The upper end of our capital investment range includes potential incremental investments to address continued demand growth and other investm…

• In November 2025, the BPU issued an Order approving PSE&G’s GSMP III program, authorizing $1.05 billion of capital investment to replace 525 miles of high pressure cast iron gas mains and unprotected steel mains, with cost recovery through three periodic rate adjustments as portions of the investmen…

• At PSEG Power, we seek to produce low-cost electricity by efficiently operating our nuclear generation assets, mitigate earnings volatility through hedging and the PTC mechanism, and support public policies that preserve these existing carbon-free base load nuclear generating plants. During the firs…

• Our hedging strategy continues to incorporate an estimated range of risk reduction impacts from the PTCs on our nuclear generation portfolio while retaining the ability to benefit when market pricing exceeds the level at which we would receive PTCs. As of December 31, 2025, we expect that our curren…

Text removed vs the prior filing · source: 10-Q · 2025-11-03

• For the years 2025-2029, our regulated capital investment program is estimated to be in a range of $21 billion to $24 billion. We expect these capital investments to result in a compound annual growth rate in our regulated rate base in a range of 6% to 7.5%. The regulated capital investments represe…

• In 2023, the BPU approved a two-year extension of our current GSMP II program to replace at least 400 miles of cast iron and unprotected steel mains and services in our gas system. The GSMP II program extension provides for main replacement through December 2025 plus trailing services replacement an…

• In October 2024, the BPU issued an Order approving the settlement of PSE&G's distribution rate case with new rates effective October 15, 2024. The Order provided for a $17.8 billion rate base, a 9.6% return on equity for PSE&G’s distribution business and a 55% equity component of its capitalization …

• At PSEG Power, we seek to produce low-cost electricity by efficiently operating our nuclear generation assets, mitigate earnings volatility through the PTC mechanism and hedging, and support public policies that preserve these existing carbon-free base load nuclear generating plants. During the firs…

• Our hedging strategy continues to incorporate an estimated range of risk reduction impacts from the PTCs on our nuclear generation portfolio while retaining the ability to benefit when market pricing exceeds the phase out threshold. As of September 30, 2025, we expect that our hedged position for 20…

Text added vs the prior filing · source: 10-Q · 2026-05-05

• During the three months ended March 31, 2026, certain of our officers and directors adopted, terminated or modified trading plans for the sale of PSEG common stock which are intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act, as shown in the following table:

• (A) Expires on the date shown or such earlier date upon the completion of all trades under the plan or the occurrence of such other termination events as specified in the plan, including but not limited to termination of the plan.

• December 31, 2025 Form 10-K page 11. In March 2026, FERC issued an order addressing a longstanding dispute about the methodology used in PJM to calculate and assign transmission project costs. The FERC order, among other things, rejected a proposed settlement agreement that would have shifted signif…

• December 31, 2025 Form 10-K page 12. PJM operates a capacity market called the Reliability Pricing Model (RPM), the rules for which are approved by FERC. Over the past few years, RPM has been under considerable scrutiny at both the federal and state level as clearing prices in the capacity auctions …

• In April 2026, FERC commenced an audit of PSE&G regarding its transmission formula rate. The audit will examine PSE&G’s compliance with (i) FERC accounting, record-keeping and record preservation rules, (ii) FERC Form No. 1 and related quarterly reporting requirements and (iii) the company’s formula…

Text removed vs the prior filing · source: 10-Q · 2025-11-03

• During the three months ended September 30, 2025, none of PSEG's officers or directors adopted, terminated or modified a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K of the Securities Act of 1933).

• Regulation of Wholesale Sales—Generation/Market Issues/Market Power

• There are several ongoing proceedings at FERC that may impact future large load customer arrangements, such as data centers, including whether certain data center customers, depending on their configuration, will pay transmission service charges. FERC is also broadly examining issues concerning whet…