PEG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• PSE&G currently anticipates filing by year end 2026 to update base rates.

• 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 June 30, 2026, we expect that our current po…

• We continue to assess physical risks of climate change and adapt our capital investment program to improve the reliability and resiliency of our system in an environment of increasing frequency and severity of weather events. PSE&G is committed to the safe and reliable delivery of natural gas to app…

• The decreases in Net Income for the three and six months ended June 30, 2026 versus the comparable periods in 2025 was driven primarily by MTM losses in 2026 compared to gains in the prior year, as shown in the table above. These impacts were partially offset by increases from continued investment i…

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

• 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…

• We continue to assess physical risks of climate change and adapt our capital investment program to improve the reliability and resiliency of our system in an environment of increasing frequency and severity of weather events. PSE&G is committed to the safe and reliable delivery of natural gas to app…

• committed to reducing GHG emissions associated with such operations. The GSMP is designed to improve safety and reliability and significantly reduce natural gas leaks in our distribution system, which would reduce the release of methane, a potent GHG, into the air. From 2018 through 2025 we reduced …

• Our increase in Net Income for the three months ended March 31, 2026 versus the comparable period in 2025 was driven primarily by continued investment in T&D clause programs at PSE&G and higher gas sales and capacity revenues at PSEG Power, combined with MTM and NDT activity, as shown in the table a…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• During the three months ended June 30, 2026, none of the Company’s directors or officers 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).

• Transmission Regulation—Transmission Rate Proceedings and ROE

• December 31, 2025 Form 10-K page 10. Under current FERC rules, PSE&G continues to earn a 50 basis point adder to its base ROE for its voluntary membership in PJM as a transmission owner. In June 2026, legislation was passed in New Jersey that requires transmission owners that own and operate transmi…

• December 31, 2025 Form 10-K page 11 and March 31, 2026 Form 10-Q page 66. 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 agr…

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

Text removed 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…