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Business Summary: Public Service Enterprise Group Incorporated is a regulated infrastructure company operating New Jersey’s transmission and distribution utility, serving approximately 2.4 million electric and 1.9 million natural gas customers. The Company also owns an independent fleet of 3,758 MW of carbon-free, baseload nuclear power-generating units. The Company principally conducts its business through two wholly owned subsidiaries, Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (PSEG Power). The Company’s segments include PSE&G and PSEG Power. PSE&G is a public utility engaged principally in the transmission of electricity and distribution of electricity and natural gas in certain areas of New Jersey. PSEG Power is an energy supply company that consists of the operations of merchant nuclear generating assets and fuel supply functions engaged in competitive energy sales via its principal direct wholly owned subsidiaries. The Company also has other wholly owned subsidiaries.
Financial Summary: BRIEF: For the three months ended 31 March 2025, Public Service Enterprise Group Inc revenues increased 17% to $3.22B. Net income increased 11% to $589M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income was partially offset by Energy Costs increase of 19% to $1.19B (expense), Operation and Maintenance increase of 17% to $919M (expense).