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PSE&G Appreciates FERC's Protective Decision

In a significant victory for customers in New Jersey, Public Service Enterprise Group, commonly known as PSE&G, has expressed its satisfaction with the recent decision from the Federal Energy Regulatory Commission (FERC). On March 6, 2026, FERC rejected a proposed settlement that would have unfairly allocated transmission costs, thus protecting PSE&G's customers from an unjust financial burden.

This decision marks a crucial turning point, as the settlement proposal had the potential to shift substantial costs onto customers. PSE&G was the sole electric utility within the PJM (a regional transmission organization) to oppose this settlement, which is indicative of its commitment to its customer base. By rejecting this proposal, FERC has ensured that the financial implications for families and businesses will be significantly mitigated.

PSE&G's leadership, including President and COO Kim Hanemann, emphasized the importance of their ongoing efforts to advocate for fair energy costs. The utility argued that the settlement was not only unreasonable but also discriminatory and lacking substantial evidence to support its claims. Hanemann stated, “PSEG fights for our customers every single day, and this decision shows what that commitment means in real terms.” This sentiment echoes PSE&G's mission to ensure that energy remains affordable while maintaining high reliability standards.

In terms of financial impact, the rejection of the proposed settlement is projected to lead to substantial savings for PSE&G customers—potentially amounting to hundreds of millions of dollars in refunds over a three-year span, specifically for the years 2020, 2021, and 2022. The total savings may surpass initial estimates due to the directive from FERC for recalculating cost assignments dating back to 2015.

These refunds stem from the utility's continuous efforts to ensure that consumers aren’t overcharged for energy. With a reputation built over 24 consecutive years of receiving the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region, PSE&G has positioned itself as a leader in the utility sector, focusing on both customer satisfaction and sustainable energy practices.

Moreover, this ruling reinforces PSE&G's long-standing dedication to maintaining not only the reliability of New Jersey's energy system but also affirms their commitment to responsible cost management. The collaboration with the New Jersey Board of Public Utilities and the New Jersey Division of Rate Counsel in opposing the settlement illustrates a united front in fighting for the rights of consumers.

As PSE&G looks toward the future, it remains vigilant in its efforts to navigate the complexities of energy regulation, ensuring that its customers benefit from fair pricing. The utility’s proactive stance against the settlement highlights a broader drive to keep energy costs low, enhance system reliability, and advocate for the financial welfare of its customer base.

In a landscape where energy prices frequently shift, PSE&G’s commitment to its customers is clear: the aim is to protect not just the financial interests of households and businesses in New Jersey, but also to embody a forward-thinking approach to energy management.

For more information about PSE&G and its services, visit PSEG's Official Website.