Certain of the matters discussed in this website about our and our subsidiaries’ future performance, including,
without limitation, future revenues, earnings, strategies, prospects, consequences and all other statements that
are not purely historical constitute “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward- looking statements are subject to risks and
uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are
based on management’s beliefs as well as assumptions made by and information currently available to
management. When used herein, the words “anticipate,” “intend,” “estimate,”
“believe,” “expect,” “plan,” “should,”
“hypothetical,” “potential,” “forecast,” “project,” variations
of such words and similar expressions are intended to identify forward-looking statements. Factors that may
cause actual results to differ are often presented with the forward-looking statements themselves. Other factors
that could cause actual results to differ materially from those contemplated in any forward- looking statements
made by us herein are discussed in filings we make with the United States Securities and Exchange Commission
(SEC), including our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K. These factors
include, but are not limited to:
- any inability to successfully develop, obtain regulatory approval for, or construct transmission and
distribution, and our nuclear generation projects;
- the physical, financial and transition risks related to climate change, including risks relating to
potentially increased legislative and regulatory burdens, changing customer preferences and lawsuits;
- any equipment failures, accidents, critical operating technology or business system failures, natural
disasters, severe weather events, acts of war, terrorism or other acts of violence, sabotage, physical
attacks or security breaches, cyberattacks or other incidents that may impact our ability to provide
safe and reliable service to our customers;
- any inability to recover the carrying amount of our long-lived assets;
- disruptions or cost increases in our supply chain, including labor shortages;
- any inability to maintain sufficient liquidity or access sufficient capital on commercially reasonable
terms;
- the impact of cybersecurity attacks or intrusions or other disruptions to our information technology,
operational or other systems;
- a material shift away from natural gas toward increased electrification and a reduction in the use of
natural gas;
- failure to attract and retain a qualified workforce;
- increases in the costs of equipment, materials, fuel, services and labor;
- the impact of our covenants in our debt instruments and credit agreements on our business;
- adverse performance of our defined benefit plan trust funds and Nuclear Decommissioning Trust Fund and
increases in funding requirements;
- any inability to extend certain significant contracts on terms acceptable to us;
- development, adoption and use of Artificial Intelligence by us and our third-party vendors;
- fluctuations in, or third-party default risk in wholesale power and natural gas markets, including the
potential impacts on the economic viability of our generation units;
- our ability to obtain adequate nuclear fuel supply;
- changes in technology related to energy generation, distribution and consumption and changes in customer
usage patterns;
- third-party credit risk relating to our sale of nuclear generation output and purchase of nuclear fuel;
- any inability to meet our commitments under forward sale obligations and Regional Transmission Organization
rules;
- the impact of changes in state and federal legislation and regulations on our business, including
PSE&G’s ability to recover costs and earn returns on authorized investments;
- PSE&G’s proposed investment projects or programs may not be fully approved by regulators and its
capital investment may be lower than planned;
- our ability to receive sufficient financial support for our New Jersey nuclear plants from the markets,
production tax credit and/or zero emission certificates program;
- adverse changes in and non-compliance with energy industry laws, policies, regulations and standards,
including market structures and transmission planning and transmission returns;
- risks associated with our ownership and operation of nuclear facilities, including increased nuclear fuel
storage costs, regulatory risks, such as compliance with the Atomic Energy Act and trade control,
environmental and other regulations, as well as operational, financial, environmental and health and
safety risks;
- changes in federal and state environmental laws and regulations and enforcement;
- delays in receipt of, or an inability to receive, necessary licenses and permits and siting approvals; and
- changes in tax laws and regulations.
All of the forward-looking statements made in this report are qualified by these cautionary statements and we cannot
assure you that the results or developments anticipated by management will be realized or even if realized, will
have the expected consequences to, or effects on, us or our business, prospects, financial condition, results of
operations or cash flows. Readers are cautioned not to place undue reliance on these forward-looking statements
in making any investment decision. Forward-looking statements made in this report apply only as of the date of
this report. While we may elect to update forward-looking statements from time to time, we specifically disclaim
any obligation to do so, even in light of new information or future events, unless otherwise required by
applicable securities laws.
The forward-looking statements contained in this report are intended to qualify for the safe harbor provisions of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended.