Fixed Income

Select One

The presentations contained within this section of are presented for general information purposes only and include forward-looking statements that are subject to various risks and uncertainties. Actual results may differ from those anticipated. Information provided is as of the date specified on each presentation. Although we may elect to update this information from time to time, we specifically disclaim any obligation to do so unless required to do so. These materials may also contain non-GAAP financial information. For additional information about PSEG, please refer to our SEC Forms 10-K, 10-Q, 8-K, and other filings for a discussion of factors that may cause results to differ from management's projections, forecasts and expectations, and for a reconciliation of non-GAAP financial information to GAAP results. View PSEG's Forward Looking Statement and GAAP disclaimer and Privacy Policy.


Public Service Enterprise Group (NYSE: PEG) is a publicly traded, diversified energy holding company headquartered in Newark, New Jersey. With total assets as of year-end 2018 of approximately $45 billion, PSEG operates reliable electric and gas transmission and distribution utilities and is among the nation's leading wholesale energy producers. PSEG's three operating subsidiaries are Public Service Electric & Gas (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company and included in the S&P 500 Index, and was named to the Dow Jones Sustainability North American Index for the 12th year in a row in 2019.

PSE&G provides electric transmission and electric and gas distribution service to approximately 2.3 million electric and 1.8 million gas customers in a 2,600 square mile service territory in New Jersey, covering approximately 70% of the state's population. In 2019, PSE&G was recognized as the "Most Reliable Utility" in the Mid-Atlantic region for the 18th year in a row by ReliabilityOne; and in 2019, achieved top quartile performance among large utilities in the East in JD Power's 2019 Electric Utility Residential Customer Satisfaction Study. PSEG Power owns an 11,167 megawatt (MW) fleet of increasingly efficient generating assets predominantly in the Northeast and Mid-Atlantic regions of the United States that are geographically well positioned and environmentally responsible. PSEG Long Island operates the Long Island Power Authority's electric distribution system serving 1.1 million customers under a 12-year management contract that began in January 2014.

Our business model is designed to be sustainable: Operational excellence is producing the financial strength that allows us to invest in a disciplined way for growth. PSEG's robust 5-year, $13 to $15.5 billion capital spending forecast will be mainly directed at PSE&G's capital program. PSEG Power has completed its ~1,800 MW combined cycle construction program with the last unit, Bridgeport Harbor 5, entering commercial operation this June. We are executing well on our capital investments, and continue to expect to fully fund our existing capital investment program over the 2019 to 2023 period without the need to issue equity. This past February, we increased our 2019 indicative annual dividend by $0.08 to $1.88 per share, which marks our 15th increase in the last 16 years and PSEG's 112th consecutive year of paying a dividend to our shareholders.

Assets (as of 9/30/19): $46.8B

Long-Term Debt Outstanding (as of 9/30/19): $2.8B*

Sr. Unsecured Issuer Rating: Baa1 / BBB **

Regulated Electric & Gas T&D

Assets (as of 9/30/19): $32.7B

Long-Term Debt Outstanding (as of 9/30/19): $9.8B*

Sr. Secured Issuer Rating: Aa3 / A **

Wholesale Energy

Assets (as of 9/30/19): $12.6B

Long-Term Debt Outstanding (as of 9/30/19): $2.8B*

Sr. Unsecured Issuer Rating: Baa1 / BBB+ **

*Long-Term Debt Outstanding includes Long-Term Debt due within one year and is adjusted for net unamortized discount and debt issuance costs.

**Issuer Credit Ratings are as of October 31, 2019 and for Moody's/S&P. A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time. Each credit rating should be evaluated independently of any other credit rating.

PSEG - Capital Spending Forecast

PSEG Power

2019E - 2023E Capital Spending1


Note: Keystone and Conemaugh have been excluded from Q4 2019 and beyond.


2019E - 2023E Capital Spending1


Hashed portion of the chart represents CEF filings. CEF filings updated to reflect the extension of the Energy Efficiency procedural schedule into 2020. No change to total filing position. Chart Updated July 30, 2019.

(1) Capital spending includes AFUDC and IDC, excludes nuclear fuel. E = estimate.

Debt Maturity Profile

As of September 30, 2019

Debt Maturity Profile

Note: PSEG Power PEDFA bonds are classified as maturing in 2022 for accounting purposes; profile shows their final maturity in 2042.


this webpage contains forward-looking information. actual results may differ from those anticipated. information describing the significant factors that could cause results to differ from those anticipated are described in public service enterprise group’s filings with the sec, which are available on our website information provided is as of october 31, 2019. any forward-looking statements included herein represent our estimates as of this date, and we disclaim any obligation to update the information provided. all future decisions regarding dividends on the common stock are subject to approval by the board of directors.