#Electric Utility #Public Service Enterprise Group #PSEG

Innovation in Clean Energy Strategies

One of PSEG's key operational achievements lies within its Clean Energy Future programs, which have generated over $1 billion in annual savings for approximately 525,000 customers since the program's inception in 2020. LaRossa emphasized the importance of these initiatives for both consumers and the state's economy, stating that energy efficiency investments have supported approximately 9,300 jobs throughout New Jersey.

In line with the company's commitment to affordability, PSEG announced its intention to lower residential gas bills by 5% starting October 1, 2026. This move further solidifies PSEG's standing as a provider of the lowest gas utility bills within New Jersey and the Mid-Atlantic region.

Robust Nuclear Performance

PSEG Nuclear also achieved noteworthy results, contributing 7.8 TWh of carbon-free energy, achieving a remarkable capacity factor of 92%. This performance was marked by a second consecutive breaker to breaker run at the Salem Unit 2, reinforcing PSEG’s role in delivering sustainable energy solutions.

The comprehensive financial and operational successes reported by PSEG allow the company to maintain its non-GAAP Operating Earnings guidance for the fiscal year 2026 at between $4.28 to $4.40 per share. Furthermore, PSEG reaffirmed its growth outlook, anticipating a 6% to 8% increase in non-GAAP Operating Earnings through 2030.

LaRossa concluded, "Our healthy balance sheet not only supports a robust capital investment strategy—projected between $24 billion to $28 billion over the next five years—but also ensures sustainable dividend growth without the necessity to issue new equity or liquidate assets. Our strategy and operational discipline continue to position PSEG for consistent, long-term growth."

Summary

PSEG's second-quarter results underscore its commitment to delivering reliable energy services and sustainable solutions. By focusing on customer needs and operational efficiency, PSEG is prepared to navigate future challenges while supporting both its customers and the local economy. As always, investors and stakeholders are encouraged to stay updated through the company’s investor relations communications and upcoming events.