Public Service : Fixed Income Fact Sheet Q1 2025
PEG
Published on 06/06/2025 at 04:09
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, offshore wind lease area, competitively bid regulated transmission investments, potential hydrogen investments, Parent and other.
PSEG had ~$4.6 billion of total available liquidity and a 59% consolidated debt to capitalization ratio at March 31, 2025.
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's predictable cash flow, strong business mix, and solid balance sheet are expected to enable funding of its $21 billion to $24 billion regulated capital investment program over the 2025 to 2029 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 Medium-Term Notes (Green Bonds) since March 2022.
PSEG sub-limit of the PSEG/PSEG Power master credit facility includes a sustainability-linked pricing mechanism related to targeted methane emission reductions.
Our Impact Report and Independent Accountant's Attestation Report for our Green Bonds can be viewed on our Sustainability and ESG Disclosures.
PSEG Consolidated Assets
$55.58B
PSEG Parent Long-Term Debt Outstanding
$5.86*
Senior Unsecured Rating
Baa2 / BBB **
Assets
$47.40B
Long-Term Debt Outstanding
$15.89B*
Senior Secured Rating
A1 / A **
Long-Term Debt Outstanding
$1.25B*
Issuer Rating
Baa2 / BBB **
Regulated Electric & Gas Transmission and Distribution
Power LLC
Wholesale Energy
All Balance Sheet data is as of March 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. In December 2024, PSEG Power amended its existing $1.25 billion variable rate 3-year term loan agreement to extend from March 2025 through June 2025.
**A credit rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time. Each credit rating should be evaluated independently of any other credit rating.
Note: Total long-term debt outstanding amounts may not add to PSEG Consolidated total long-term debt outstanding due to rounding. Amounts are rounded up to two decimal places.
9,000
8,000
Principal Maturing ($ Millions)
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
2025 2026 2027 2028 2029 2030-2039 2040-2055
PSE&G PSEG Power PSEG
($ Billions)
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: [email protected] 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 April 30, 2025. Any forward-looking statements included herein represent our estimates as of this date and we disclaim any obligation to update the information provided.
Disclaimer
PSEG - Public Service Enterprise Group Inc. published this content on June 06, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 06, 2025 at 08:08 UTC.