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Public Service Enterprise Group

PSEG is a public utility holding company that, acting through its wholly owned subsidiaries, is a predominantly regulated electric and gas utility and a nuclear generation business

  • PSE&G is NJ’s largest electric and gas utility, serving 2.4 million electric customers and 1.9 million gas customers.
  • PSEG Power & Other includes our nuclear generation business (3,758 megawatt fleet), gas supply operations, PSEG Long Island, competitively bid regulated transmission, Parent and other.
  • PSEG had ~$2.8 billion of total available liquidity and a 59% consolidated debt to capitalization ratio at December 31, 2025.
  • PSEG’s predictable cash flow, strong business mix, and solid balance sheet are expected to enable funding of its $22.5 billion to $25.5 billion regulated capital investment program over the 2026 to 2030 period without the need to issue equity or sell assets.
  • PSEG finances at the PSEG level and at its subsidiaries, PSE&G and PSEG Power.
  • PSE&G has issued a total of $1.4 billion of Secured MediumTerm Notes (Green Bonds) since March 2022.
  • PSEG has been recognized with top-tier Sustainability and Governance scores. To learn more and to view our latest Sustainability and Climate reports, click here.

PSEG Consolidated Assets: $57.58B

PSEG Parent Long-Term Debt Outstanding: $5.31B *

Senior Unsecured Rating (Moody’s / S&P): Baa2 / BBB **

Regulated Electric & Gas Transmission and Distribution

Assets: $49.02B

Long-Term Debt Outstanding: $15.99B *

Senior Secured Rating: A1 / A **

Wholesale Energy

Long-Term Debt Outstanding: $1.24B *

Issuer Rating: Baa2 / BBB **

All Balance Sheet data is as of December 31, 2025.
*Long-Term Debt outstanding includes Long-Term Debt due within one year and is adjusted for net unamortized discount and debt issuance costs; subsidiary debt may not add to consolidated debt due to rounding.
**A credit 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.
Note: Total long-term debt outstanding amounts may not add to PSEG Consolidated total long-term debt outstanding due to rounding. Amounts are rounded up to two decimal places.

Debt Maturity Profile
PSEG’s Capital Spending

Includes AFUDC. CEF-EC/AMI is included in Electric Distribution.
Note: The Maryland Piedmont Reliability Project that was awarded to PSEG by PJM in December 2023 will be managed and owned outside of PSE&G but is included here given FERC regulated rate base formula rate recovery.
The low end of the range includes extensions of GSMP and CEF-EE. The hashed portion of the chart represents incremental PSE&G investment that may occur for programs related to gas and electric modernization, energy efficiency, energy storage, electric vehicles, load growth and solar.
E=Estimate; ESG=Environmental, Social & Governance; AFUDC=Allowance for Funds Used During Construction; CEF-EC/AMI=Clean Energy Future-Energy Cloud/Advanced Metering Infrastructure; FERC=Federal Energy Regulatory Commission; GSMP=Gas System Modernization Program; CEF-EE=Clean Energy Future-Energy Efficiency

Public Service Enterprise Group (PSEG)
80 Park Plaza, Newark, NJ 07102
Investor Relations: PSEG-IR-GeneralInquiry@pseg.com
https://investor.pseg.com

This document 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 https://investor.pseg.com. Unless otherwise noted, information provided is as of February 26, 2026. Any forward-looking statements included herein represent our estimates as of this date and we disclaim any obligation to update the information provided.