Public Service Enterprise Group Incorporated (PEG): Business Model Canvas

In der dynamischen Landschaft der Energieinfrastruktur erweist sich die Public Service Enterprise Group Incorporated (PEG) als transformative Kraft, die sich strategisch durch das komplexe Terrain der Versorgungsdienstleistungen und nachhaltigen Energielösungen bewegt. Mit einem robusten Geschäftsmodell, das technologische Innovation, Einhaltung gesetzlicher Vorschriften und Umweltschutz miteinander verbindet, steht PEG an der Spitze der Neugestaltung des Energieökosystems von New Jersey. Ihr umfassender Ansatz verbindet die traditionelle Stromerzeugung nahtlos mit hochmodernen Investitionen in erneuerbare Energien und schafft so ein überzeugendes Narrativ der Versorgungsentwicklung, das Zuverlässigkeit, Effizienz und zukunftsweisende Nachhaltigkeit verspricht.

Public Service Enterprise Group Incorporated (PEG) – Geschäftsmodell: Wichtige Partnerschaften

Regulatorische Zusammenarbeit des NJ Board of Public Utilities

Die Public Service Enterprise Group unterhält eine wichtige Regulierungspartnerschaft mit dem New Jersey Board of Public Utilities (NJBPU). Ab 2024 umfasst die Zusammenarbeit:

Partnerschaftlicher Aspekt	Details
Einhaltung gesetzlicher Vorschriften	100 % Übereinstimmung mit den NJBPU-Standards für erneuerbare Energien
Jährliche regulatorische Investition	12,3 Millionen US-Dollar für Compliance- und Zusammenarbeitsbemühungen

Anbieter von Energietechnologie und erneuerbarer Infrastruktur

Zu den wichtigsten Technologiepartnerschaften von PSEG gehören:

• Siemens Energy – Technologien zur Netzmodernisierung
• General Electric – Infrastruktur für erneuerbare Energien
• Vestas Wind Systems – Windkraftanlagentechnologien

Technologiepartner	Investitionswert	Partnerschaftsfokus
Siemens Energy	45,6 Millionen US-Dollar	Smart-Grid-Technologien
General Electric	38,2 Millionen US-Dollar	Entwicklung erneuerbarer Infrastruktur

Lokale Kommunalverwaltungen in New Jersey

PSEG arbeitet im Rahmen strategischer Energiepartnerschaften mit 21 Gemeinden in New Jersey zusammen.

Partnerschaftstyp	Anzahl der Gemeinden	Jährliche wirtschaftliche Auswirkungen
Entwicklung der Energieinfrastruktur	21 Gemeinden	87,5 Millionen US-Dollar

Strategische Allianz mit Entwicklern erneuerbarer Energien

Zu den PSEG-Entwicklerpartnerschaften für erneuerbare Energien gehören:

• NextEra-Energieressourcen
• Erneuerbare Energien von Cypress Creek
• Invenergy

Entwicklerpartner	Investitionen in erneuerbare Projekte	Kapazität
NextEra-Energieressourcen	129,4 Millionen US-Dollar	250 MW Solarkapazität
Erneuerbare Energien von Cypress Creek	96,7 Millionen US-Dollar	180 MW Windkapazität

Gerätehersteller und Netztechnologielieferanten

Das Ausrüstungs- und Technologielieferantennetzwerk von PSEG umfasst:

• ABB Ltd
• Schneider Electric
• Honeywell International

Lieferant	Jährlicher Beschaffungswert	Technologiefokus
ABB Ltd	53,2 Millionen US-Dollar	Netzautomatisierungssysteme
Schneider Electric	41,9 Millionen US-Dollar	Energiemanagementlösungen

Public Service Enterprise Group Incorporated (PEG) – Geschäftsmodell: Hauptaktivitäten

Stromerzeugung und -übertragung

PSEG betreibt in mehreren Kraftwerken eine Gesamterzeugungskapazität von 13.900 MW. Das Erzeugungsportfolio umfasst:

Generationstyp	Kapazität (MW)	Prozentsatz
Nuklear	7,246	52.1%
Erdgas	5,497	39.5%
Solar	1,157	8.4%

Erdgasverteilungsdienste

PSEG ist über die Public Service Electric and Gas Company (PSE&G) tätig und bedient:

• 2,3 Millionen Stromkunden
• 1,9 Millionen Erdgaskunden
• Abdeckung von 2.600 Quadratmeilen in New Jersey

Projektentwicklung für erneuerbare Energien

Zu den Investitionen von PSEG in erneuerbare Energien gehören:

Erneuerbarer Projekttyp	Aktuelle Kapazität	Geplante Erweiterung
Solarprojekte	1.157 MW	Weitere 500 MW bis 2026
Offshore-Wind	0 MW	1.232 MW geplant

Wartung und Modernisierung der Netzinfrastruktur

PSEG investiert 1,5 Milliarden US-Dollar pro Jahr bei der Modernisierung der Netzinfrastruktur mit Schwerpunkt auf:

• Implementierung der Smart-Grid-Technologie
• Verbesserungen der Übertragungsleitungszuverlässigkeit
• Austausch von Erdkabeln

Umsetzung des Energieeffizienzprogramms

Die Energieeffizienzprogramme von PSE&G im Jahr 2023:

Programmkategorie	Jährliche Energieeinsparungen	Kundenbeteiligung
Wohnprogramme	214.000 MWh	127.500 Kunden
Kommerzielle Programme	316.000 MWh	3.200 Unternehmen

Public Service Enterprise Group Incorporated (PEG) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Energieerzeugungsanlagen

Die Public Service Enterprise Group betreibt ein vielfältiges Stromerzeugungsportfolio mit den folgenden Schlüsselanlagen:

Gesamterzeugungskapazität	13.600 MW
Kernenergieerzeugung	3.259 MW
Erdgaserzeugung	6.800 MW
Solarenergieerzeugung	285 MW

Fortschrittliche elektrische Übertragungsinfrastruktur

PSEG unterhält ein robustes Übertragungsnetz:

• Länge der Übertragungsleitung: 2.550 Meilen
• Unterstationen: 374
• Servicegebiet: New Jersey

Qualifizierte Ingenieure und technische Arbeitskräfte

Zusammensetzung der Belegschaft ab 2023:

Gesamtzahl der Mitarbeiter	12,700
Ingenieure	2,350
Technische Spezialisten	3,100

Erhebliches Finanzkapital

Finanzielle Ausstattung ab Q4 2023:

Gesamtvermögen	48,3 Milliarden US-Dollar
Gesamteigenkapital	14,2 Milliarden US-Dollar
Jährliche Kapitalausgaben	3,1 Milliarden US-Dollar

Umfassende Energiemanagement-Technologiesysteme

Investitionen in die Technologieinfrastruktur:

• Investition in Smart-Grid-Technologie: 750 Millionen US-Dollar
• Abdeckung der Advanced-Metering-Infrastruktur: 2,2 Millionen Kunden
• Jahresbudget für Cybersicherheit: 85 Millionen US-Dollar

Public Service Enterprise Group Incorporated (PEG) – Geschäftsmodell: Wertversprechen

Zuverlässige und konsistente Energieversorgung für New Jersey

Die Public Service Enterprise Group (PSEG) betreut rund 2,3 Millionen Stromkunden und 1,9 Millionen Gaskunden in New Jersey. Das Unternehmen unterhält Übertragungsleitungen mit einer Gesamtlänge von 10.625 Meilen und Verteilungsleitungen mit einer Gesamtlänge von 25.000 Meilen.

Servicemetrik	Menge
Stromkunden	2,3 Millionen
Gaskunden	1,9 Millionen
Übertragungsleitungsmeilen	10,625
Meilen der Vertriebslinie	25,000

Engagement für nachhaltige und saubere Energielösungen

PSEG hat sich verpflichtet, die CO2-Emissionen bis 2030 um 80 % im Vergleich zu 2005 zu reduzieren. Das Portfolio des Unternehmens im Bereich erneuerbare Energien umfasst:

• Solarstromerzeugungskapazität von 414 MW
• Investitionen in Windenergie
• Energiespeicherprojekte mit insgesamt 75 MW

Wettbewerbsfähige Preise für Strom und Erdgas

Die durchschnittlichen Stromtarife für Privathaushalte von PSEG in New Jersey liegen bei etwa 16,27 Cent pro Kilowattstunde, was leicht über dem Landesdurchschnitt von 14,19 Cent pro Kilowattstunde liegt.

Erweiterte Netzstabilität und technologische Innovation

PSEG investierte im Jahr 2022 1,7 Milliarden US-Dollar in die Modernisierung des Netzes und die Verbesserung der Infrastruktur. Zu den technologischen Innovationen des Unternehmens gehören:

• Fortschrittliche Messinfrastruktur
• Vorausschauende Wartungstechnologien
• Microgrid-Lösungen

Umweltverträglichkeit durch erneuerbare Investitionen

Zu den Investitionen von PSEG in saubere Energie ab 2023 gehören:

Art der erneuerbaren Energie	Investitionsbetrag
Solarprojekte	350 Millionen Dollar
Windenergie	250 Millionen Dollar
Energiespeicher	150 Millionen Dollar

Public Service Enterprise Group Incorporated (PEG) – Geschäftsmodell: Kundenbeziehungen

Direkter Kundendienst-Support

Die Public Service Enterprise Group bietet Kundensupport über mehrere Kanäle:

Support-Kanal	Kontaktmethode	Durchschnittliche Reaktionszeit
Telefonsupport	1-800-436-7734	12 Minuten
Online-Chat	WebChat-Plattform	8 Minuten
E-Mail-Support	customer.support@pseg.com	24 Stunden

Online-Kontoverwaltungsplattformen

PSEG bietet eine digitale Kontoverwaltung mit folgenden Funktionen:

• Online-Rechnungszahlung rund um die Uhr
• Verfolgung des Energieverbrauchs
• Ausfallmeldesystem
• Digitale Abrechnungen

Personalisierte Energieeffizienzberatung

PSEG bietet Energieeffizienzdienstleistungen mit den folgenden Kennzahlen an:

Servicetyp	Anzahl der Konsultationen (2023)	Kundeneinsparungen
Energieaudit für Wohngebäude	42,567	Durchschnittlich 185 $ pro Haushalt
Kommerzielle Energiebewertung	3,214	Durchschnittlich 4.750 $ pro Unternehmen

Digitale Kommunikationskanäle

PSEG unterhält aktive digitale Kommunikationsplattformen:

• Social-Media-Follower: 157.000
• Mobile App-Downloads: 276.000
• E-Mail-Newsletter-Abonnenten: 98.000

Community-Engagement-Programme

Zu den Initiativen zum gesellschaftlichen Engagement von PSEG gehören:

Programm	Jährliche Investition	Auswirkungen auf die Gemeinschaft
Energiehilfeprogramm	12,3 Millionen US-Dollar	37.500 Haushalte unterstützt
MINT-Ausbildungsstipendien	2,1 Millionen US-Dollar	89 Bildungseinrichtungen

Public Service Enterprise Group Incorporated (PEG) – Geschäftsmodell: Kanäle

Digitales Webportal und mobile Anwendungen

Die digitalen Plattformen von PSE&G bedienen rund 2,3 Millionen Strom- und Gaskunden in ganz New Jersey. Die mobile App des Unternehmens wurde bis 2023 über 500.000 Mal heruntergeladen.

Digitaler Kanal	Nutzungsmetriken	Jährliche Transaktionen
Webportal	1,8 Millionen aktive Benutzer	12,4 Millionen Online-Rechnungszahlungen
Mobile Anwendung	500.000 Downloads	6,2 Millionen Service-Interaktionen

Kundendienst-Callcenter

PSE&G betreibt mehrere Callcenter, die jährlich etwa 3,5 Millionen Kundeninteraktionen abwickeln.

• Durchschnittliche Reaktionszeit im Callcenter: 2,7 Minuten
• Kundensupport rund um die Uhr verfügbar
• Mehrere Sprachunterstützungskanäle

Lokale physische Servicezentren

Das Unternehmen unterhält 12 physische Kundendienststandorte in ganz New Jersey.

Standorttyp	Anzahl der Zentren	Jährlicher Fußgängerverkehr
Regionale Servicezentren	12	425.000 persönliche Interaktionen

Direktabrechnungs- und Kommunikationssysteme

PSE&G verarbeitet jährlich etwa 28,6 Millionen Abrechnungen über mehrere Kommunikationskanäle.

• Elektronische Rechnung: 65 % der Kunden
• Papierrechnung: 35 % der Kunden
• Durchschnittliches monatliches Abrechnungsvolumen: 2,4 Millionen Kontoauszüge

Kundeninteraktionsplattformen für soziale Medien

PSE&G unterhält eine aktive Social-Media-Präsenz auf mehreren Plattformen.

Plattform	Anhänger	Jährliche Interaktionen
Twitter	85,000	42.000 Kundeninteraktionen
Facebook	120,000	58.000 Kundeninteraktionen

Public Service Enterprise Group Incorporated (PEG) – Geschäftsmodell: Kundensegmente

Stromverbraucher für Privathaushalte

Die Public Service Enterprise Group beliefert ab 2023 etwa 2,3 Millionen private Stromkunden in New Jersey.

Kundenkategorie	Anzahl der Kunden	Durchschnittlicher monatlicher Verbrauch
Einfamilienhäuser	1,380,000	750 kWh
Mehrfamilienhäuser	920,000	550 kWh

Gewerbliche und industrielle Energieverbraucher

PEG bedient 230.000 Gewerbe- und Industriekunden in ganz New Jersey.

• Kleinunternehmenssegment: 180.000 Kunden
• Mittleres Unternehmenssegment: 35.000 Kunden
• Große Industriekunden: 15.000 Kunden

Kommunale und staatliche Energiekunden

Die Public Service Enterprise Group bietet Energiedienstleistungen für 425 kommunale und staatliche Einrichtungen in New Jersey.

Clienttyp	Anzahl der Kunden	Jährlicher Energieverbrauch
Kommunalverwaltungen	287	1,2 Millionen MWh
Einrichtungen der Landesregierung	138	850.000 MWh

Projektpartner für erneuerbare Energien

PEG arbeitet im Jahr 2023 mit 62 Projektpartnern für erneuerbare Energien zusammen.

• Solarenergiepartner: 42
• Kooperationen im Bereich Windenergie: 15
• Batteriespeicherprojekte: 5

Kunden großer Versorgungsinfrastruktur

Die Public Service Enterprise Group verwaltet die Infrastruktur für 15 große Versorgungskunden.

Infrastrukturtyp	Anzahl der Kunden	Gesamtwert der Infrastruktur
Netzmanagementsysteme	8	1,2 Milliarden US-Dollar
Übertragungsnetzwerk-Clients	7	890 Millionen Dollar

Public Service Enterprise Group Incorporated (PEG) – Geschäftsmodell: Kostenstruktur

Wartung der Stromerzeugungsinfrastruktur

Im Jahr 2023 meldete PEG Infrastrukturwartungskosten in Höhe von 412,6 Millionen US-Dollar. Die Wartungsaufwendungen gliedern sich wie folgt:

Infrastrukturtyp	Jährliche Wartungskosten
Kernkraftwerke	218,3 Millionen US-Dollar
Erdgasanlagen	124,5 Millionen US-Dollar
Infrastruktur für erneuerbare Energien	69,8 Millionen US-Dollar

Projektentwicklung für erneuerbare Energien

PEG investierte im Jahr 2023 735,2 Millionen US-Dollar in die Entwicklung von Projekten für erneuerbare Energien, mit folgender Zuteilung:

• Solarenergieprojekte: 312,6 Millionen US-Dollar
• Windenergieinvestitionen: 267,4 Millionen US-Dollar
• Energiespeichertechnologien: 155,2 Millionen US-Dollar

Vergütung und Schulung der Mitarbeiter

Die gesamten mitarbeiterbezogenen Ausgaben beliefen sich im Jahr 2023 auf 589,7 Millionen US-Dollar:

Ausgabenkategorie	Betrag
Grundgehälter	412,3 Millionen US-Dollar
Vorteile	127,6 Millionen US-Dollar
Schulung und Entwicklung	49,8 Millionen US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Kosten für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf insgesamt 276,4 Millionen US-Dollar:

• Umweltkonformität: 142,7 Millionen US-Dollar
• Sicherheitsvorschriften: 83,6 Millionen US-Dollar
• Lizenzen und Genehmigungen: 50,1 Millionen US-Dollar

Investitionen in Technologie und Netzmodernisierung

Die Ausgaben für Technologie und Netzmodernisierung beliefen sich im Jahr 2023 auf 621,5 Millionen US-Dollar:

Technologie-Investitionsbereich	Investitionsbetrag
Smart-Grid-Technologien	287,6 Millionen US-Dollar
Cybersicherheitsinfrastruktur	194,3 Millionen US-Dollar
Digitale Transformation	139,6 Millionen US-Dollar

Public Service Enterprise Group Incorporated (PEG) – Geschäftsmodell: Einnahmequellen

Gebühren für die Stromübertragung und -verteilung

Die Public Service Enterprise Group (PSE&G) meldete im Jahr 2022 einen Stromübertragungs- und -verteilungsumsatz von 3,97 Milliarden US-Dollar. Der Stromversorger beliefert rund 2,3 Millionen Kunden in ganz New Jersey.

Umsatzkategorie	Betrag (2022)
Umsatz mit elektrischer Übertragung	1,42 Milliarden US-Dollar
Einnahmen aus der Stromverteilung	2,55 Milliarden US-Dollar

Erdgasverkauf und -verteilung

Das Erdgassegment von PSE&G erwirtschaftete im Jahr 2022 einen Umsatz von 1,16 Milliarden US-Dollar und belieferte etwa 1,9 Millionen Erdgaskunden.

Aufschlüsselung der Gaseinnahmen	Betrag (2022)
Erdgasverkauf	692 Millionen US-Dollar
Erdgasverteilung	468 Millionen US-Dollar

Investitionen in Projekte für erneuerbare Energien

PSE&G investierte 1,3 Milliarden US-Dollar in saubere Energieprojekte im Jahr 2022, mit spezifischen Einnahmequellen aus:

• Investitionen in Solarenergie
• Energiespeicherprojekte
• Entwicklung der Windenergie

Einnahmen aus dem Energieeffizienzprogramm

Die Energieeffizienzprogramme von PSE&G erwirtschafteten ca 287 Millionen Dollar im Jahr 2022, mit wichtigen Einnahmequellen, darunter:

• Anreize für kommerzielle Energieeffizienz
• Energiesparprogramme für Privathaushalte
• Lösungen für das industrielle Energiemanagement

Versorgungsdienstleistungsverträge und Partnerschaften

Versorgungsdienstleistungsverträge und Partnerschaften trugen dazu bei 456 Millionen US-Dollar zum Umsatz von PSE&G im Jahr 2022, einschließlich:

Partnerschaftstyp	Umsatzbeitrag
Kommunale Infrastrukturverträge	203 Millionen Dollar
Partnerschaften zur Netzmodernisierung	153 Millionen Dollar
Energieberatungsdienste	100 Millionen Dollar

Public Service Enterprise Group Incorporated (PEG) - Canvas Business Model: Value Propositions

You're looking at the core promises Public Service Enterprise Group Incorporated (PEG) makes to its customers and the market right now, late in 2025. It's all about reliable delivery and predictable financial footing.

Highly reliable, regulated electric and gas service for 4.3 million total customers

Public Service Electric and Gas Co. (PSE&G), the utility arm, is the backbone here, delivering essential services across New Jersey. The scale of this operation is significant, providing a foundational value proposition of consistent service delivery.

Service Component	Customer Count (as of Q1 2025)
Electric Customers (PSE&G)	2.4 million
Natural Gas Customers (PSE&G)	1.9 million
Total PSE&G Customers	4.3 million

Stable, predictable returns driven by a predominantly regulated business model

The financial structure is intentionally weighted toward regulated operations, which means earnings are more visible and less subject to volatile wholesale power markets. This stability is a key proposition for investors seeking lower-risk returns. For the full year 2024, the company reported Non-GAAP Operating Earnings of $3.68 per share. Looking ahead, the business mix is expected to be ~90% regulated over the next five years.

Carbon-free baseload power generation with a Q1 2025 capacity factor of 99.9%

Public Service Enterprise Group (PEG) Power maintains a critical, clean energy asset base. The nuclear fleet provides essential 24/7 power, which is a major value driver in the current energy landscape. This reliability is quantified by operational metrics that are frankly best-in-class.

• Nuclear Fleet Owned Capacity: 3,758 MW
• Q1 2025 Nuclear Capacity Factor: 99.9%
• Q1 2025 Baseload Generation: Approximately 8.4 terawatt hours

Energy efficiency programs that help customers save energy and lower their bills

PEG actively invests in programs designed to manage energy demand and help customers control costs, which supports the regulated utility's mission and regulatory standing. The commitment here is backed by substantial, approved capital.

• Clean Energy Future - Energy Efficiency II Program (CEF-EE II) approved spending: Approximately $2.9 billion over a six-year period.
• The Conservation Incentive Program (CIP) helps decouple margin from sales volume volatility.

Grid modernization and resilience to support growing demand from electrification and data centers

The utility is investing heavily to ensure the physical infrastructure can handle future load growth, especially from emerging sectors like data centers and electric vehicle adoption. This forward-looking capital deployment is a direct value proposition to future customers and the state's economic development goals. If onboarding takes 14+ days, churn risk rises, so speed in connecting new load is key.

The company's 2025 regulated capital spending plan is set at ~$3.8 billion. Furthermore, the pipeline for new service connections, driven by large load inquiries, exceeded 6,400 megawatts of requested capacity as of March 31, 2025. The total projected regulated investment from 2025 to 2029 is in the $21 billion to $24 billion range.

Finance: draft 13-week cash view by Friday.

Public Service Enterprise Group Incorporated (PEG) - Canvas Business Model: Customer Relationships

You're looking at how Public Service Enterprise Group Incorporated (PEG) manages the direct connection with its ~2.4 million electric and ~1.9 million natural gas customers in New Jersey. It's a relationship heavily defined by regulation, but with clear efforts to drive satisfaction and manage future demand spikes. Public Service Enterprise Group Incorporated (PEG) serves approximately 2.4 million electric and 1.9 million natural gas customers.

Regulated Service Agreements and Stability

The core relationship is built on regulated service agreements, which is how Public Service Enterprise Group Incorporated (PEG) minimizes direct exposure to volatile energy tariffs and aims for stable returns. The recent electric and gas distribution base rate case settlement in 2024, effective for a full quarter starting October 15, 2024, helps recover prudent investments. To further stabilize distribution margin and customer rates, the Conservation Incentive Program (CIP) decouples revenues, which allows for broad energy efficiency adoption. This focus on cost control supports customer affordability, with Public Service Enterprise Group Incorporated (PEG) reporting the lowest gas bills and average electric bills versus regional peers. This predictability is key to their financial outlook, targeting a 2025 non-GAAP Operating Earnings guidance of $3.94 to $4.06 per share, up 9% at the midpoint over 2024 results.

The utility is also managing rate changes carefully; for instance, Public Service Enterprise Group Incorporated (PEG) filed for a change in the basic gas supply commodity charge to ~$0.36 per therm (up from ~$0.33 per therm) effective December 1, 2025.

High-Touch Service for Large Load Inquiries

For your largest customers, especially those driving massive demand like data centers, Public Service Enterprise Group Incorporated (PEG) shifts to a high-touch service model. The pipeline of potential large load customers seeking new service connections saw a dramatic surge. As of the end of June 2025, this pipeline jumped to 9.4 GW, a 47% increase from just three months prior. This is a significant increase from the 4,700 MW in total inquiries seen over the past year, compared to about 400 MW in 2023. Still, the utility manages expectations, only expecting roughly 10% to 20% of these interconnection inquiries to actually materialize.

Here's a quick look at the scale of these inquiries and the utility's expectation management:

Metric	Value as of Late 2025 Data	Context
Total Large Load Inquiry Pipeline (End of June 2025)	9,400 MW (or 9.4 GW)	Represents potential new service connections, mostly data centers
Pipeline Growth (Q1 2025 to Q2 2025)	47% increase	Jump from 6.4 GW three months earlier
Expected Conversion Rate	10% to 20%	Public Service Enterprise Group Incorporated (PEG) expectation for realized connections
Peak Load Hit (June 2025 Heat Wave)	10,229 MW	Highest level since 2013

This high-volume engagement requires dedicated resources, including a team of Major Accounts employees liaising with key personnel at these large businesses.

Customer Satisfaction and Digital Engagement

For the residential base, Public Service Enterprise Group Incorporated (PEG) has seen tangible results from its customer focus efforts. In 2024, J.D. Power recognized Public Service Electric & Gas (PSE&G) as the #1 utility for residential customer satisfaction with both electric and gas service in the East among large utilities. Furthermore, in a 2025 J.D. Power Study, customers rated PSE&G the Most Appealing Brand among Residential Electric and Gas Utilities in the East.

The company also supports customer self-service through technology investments:

• Completed the Advanced Metering Infrastructure (AMI) program.
• Installed approximately 2.2 million PSE&G smart meters.
• These systems enable digital self-service options for customers.

The dividend policy also reflects commitment to stakeholders, with the first-quarter common stock dividend at an indicative annual rate of $2.52 per share, a 5% increase for 2025.

Public Service Enterprise Group Incorporated (PEG) - Canvas Business Model: Channels

Public Service Enterprise Group Incorporated (PEG) utilizes a multi-faceted channel strategy to interact with its customer base and regulatory bodies, primarily through its Public Service Electric and Gas Co. (PSE&G) subsidiary.

Physical electric and gas transmission and distribution network

The physical network is the core channel for service delivery, connecting the utility to its customer base across New Jersey. As of late 2025, the scale of this infrastructure supports millions of customers.

Metric	Value (as of late 2025/YE 2024)
Electric Customers Served (PSE&G)	2.4 million
Natural Gas Customers Served (PSE&G)	1.9 million
Total Electric & Gas Customers (PSE&G)	~4.3 million
Electric & Gas Transmission and Distribution Lines	25,000 circuit miles (as of December 31, 2024)

Customer service centers and call centers for billing and outage reporting

Direct customer interaction for support, billing inquiries, and immediate outage reporting relies on established service centers and call center operations. PSE&G is recognized for its business customer service performance.

• PSE&G received the #2 ranking in the J.D. Power 2025 Electric Utility Business Customer Satisfaction Study for the East Large Segment.
• The industry standard for Average Handle Time (AHT) in customer service call centers is around 7 to 10 minutes.
• The industry standard call center occupancy rate ranges from 75% to 85%.
• The industry standard call transfer rate benchmark is 15% or less.

Digital channels including website and mobile apps for account management and energy data

Digital engagement is supported by infrastructure upgrades and specific program rollouts that provide customers with usage data and management tools.

• The Advanced Metering Infrastructure (AMI) program is completed, with approximately 2.2 million smart meters in-service.
• The AMI implementation provides a foundation for better service, including granular usage information and faster outage detection.
• Through March 2025, nearly 465,000 customers actively participated in PSEG's energy efficiency initiatives.
• The Electric Vehicle (EV) program has approximately 28,000 chargers energized to date (as of November 2025), with an additional ~12,000 in the application queue.

Direct engagement with state regulators (BPU) for rate and program approvals

Rate and program approvals from the New Jersey Board of Public Utilities (BPU) are a critical channel for authorizing investment recovery and new customer offerings. This involves formal filings and participation in hearings.

Regulatory Action/Program	Key Financial/Approval Detail
CEF-EE II Program Approval (Effective Jan 1, 2025)	Totaling approximately $2.9 billion investment.
2025 Electric & Gas Tax Adjustment Credit Filing	BPU Docket Nos. ER25100577 and GR25100578 (Filed October 2025).
GSMP II Extension Filing	BPU Docket No. GR25080463 (Filed August 2025).
2024 Distribution Base Rate Case Settlement	Resulted in a typical combined residential bill increase of 7% (or $15 per month), with new rates effective October 15, 2024.

On-bill repayment options for energy efficiency equipment financing

On-bill repayment (OBR) is a specific financing channel integrated into customer bills, supporting the Clean Energy Future programs. This helps customers finance energy-saving upgrades.

• The BPU approved total energy efficiency programs since inception of approximately $3.2 billion investment plus approximately $1 billion for on-bill repayment financing.
• The CEF-EE II program, effective January 1, 2025, includes approximately $1 billion of on-bill repayment options to help finance energy efficiency equipment and appliances over a six-year period.
• Through March 2025, customers actively participating in efficiency initiatives collectively saved over $720 million annually on their utility bills.
• Since the start of the program, customers received approximately $740 million in rebates.

Public Service Enterprise Group Incorporated (PEG) - Canvas Business Model: Customer Segments

Public Service Enterprise Group Incorporated (PEG) serves distinct customer segments across its regulated utility operations in New Jersey and its power generation business.

The core utility customer base for Public Service Electric and Gas Company (PSE&G) in New Jersey is substantial, covering both electric and gas services.

Customer Type	Service	Customer Count (as of Feb 2025)
Residential	Electric	2.4 million
Residential	Natural Gas	1.9 million

The PSEG Long Island segment, operating under the operations service provider contract for the Long Island Power Authority, serves a separate electric customer base.

• Electric customers served by PSEG Long Island: 1.2 million as of November 2025.
• Commercial customers served by PSEG Long Island: more than 130,000 as of November 2025.

The Commercial and Industrial (C&I) segment for PSE&G is currently characterized by significant interest from large energy users, particularly data centers, which are not captured by the standard econometric load forecast model.

The pipeline for large load inquiries, heavily driven by data centers, shows rapid growth:

• Total large load inquiries as of June 30, 2025: over 9,400 megawatts (MW).
• This represents a 47% jump from the 6,400 MW reported at the end of March 2025.
• Approximately 90% of the 9,400 MW in large load projects is attributed to planned data centers.

For context on the existing data center footprint, as of Summer 2024, PSE&G served 39 data centers sites with a forecasted summer peak demand of 343 MW.

Public Service Enterprise Group Incorporated, through PSEG Power, also serves the wholesale energy markets, primarily through its nuclear fleet capacity in the PJM Interconnection.

Market Activity	Metric	Value/Amount	Date/Period
PJM Capacity Auction	Cleared Nuclear Capacity (2026/2027)	3,500 MW	July 2025 notification
PJM Capacity Auction	Market Clearing Price	$329/MW-day	2026/2027 auction
PSEG Power Ownership	Salem and Hope Creek Nuclear Capacity	2,483 MW	As of early 2025

The nuclear segment is focused on optimizing output, such as extending the Hope Creek fuel cycle to produce more megawatt hours moving forward.

Public Service Enterprise Group Incorporated (PEG) - Canvas Business Model: Cost Structure

You're looking at the core expenses that Public Service Enterprise Group Incorporated (PEG) faces to keep the lights on and the gas flowing across New Jersey. This cost structure is heavily weighted toward regulated asset maintenance and debt obligations, which is typical for a large, capital-intensive utility.

The commitment to infrastructure renewal is a major line item. Public Service Enterprise Group Incorporated planned capital expenditures for regulated infrastructure at $3.8 billion for 2025. This investment fuels the rate base growth, targeting a compound annual growth rate of 6% to 7.5% for the PSE&G Rate Base through 2029.

Servicing the capital base requires significant cash flow dedicated to debt. As of the third quarter of 2025, the total long-term debt outstanding across the consolidated entity was substantial. You can see the breakdown below, but the total debt service costs are directly related to the aggregate long-term debt, which totaled $22.54 billion as of Q3 2025, calculated from the segment debt figures.

Operating costs are also substantial, reflecting the day-to-day running of the utility and the nuclear fleet. We can look at the third quarter of 2025 results to get a snapshot of these recurring expenses, which include fuel, purchased power, and the labor/materials for maintenance. The company demonstrated an ability to control these costs, which helps provide headroom for capital investment recovery.

Depreciation and amortization expenses are a direct consequence of that large, growing asset base. As you invest billions in regulated infrastructure, the non-cash charge for wearing out those assets increases, which is a key component of the overall cost structure that regulators allow Public Service Enterprise Group Incorporated to recover through rates.

Here's a quick look at some of the key financial figures from the third quarter of 2025 for context on the scale of these costs:

Cost Category (Q3 2025, $ Millions)	Public Service Enterprise Group Consolidated	PSE&G	PSEG Power & Other
Fuel and Purchased Power Costs (Energy Costs)	$1,133	$1,013	$178
Operating and Maintenance (O&M) Expenses	$927	$543	$384
Depreciation and Amortization	$311	$277	$34

The long-term debt structure as of September 30, 2025, shows where the financing obligations lie:

• PSEG Parent Long-Term Debt Outstanding: $5.31 billion
• Public Service Electric & Gas (PSE&G) Long-Term Debt Outstanding: $15.99 billion
• PSEG Power Long-Term Debt Outstanding: $1.24 billion
• Total Long-Term Debt (Sum of above): $22.54 billion

Furthermore, the company's regulated capital spending plan for 2025 is set at approximately $3.8 billion. This heavy investment in infrastructure modernization, energy efficiency, and load growth is the primary driver of future depreciation expenses, which are necessary to maintain and grow the rate base.

You should also note the O&M expenses reflect the company's focus on cost control to mitigate inflationary impacts, which is key to preserving customer affordability.

Finance: draft 13-week cash view by Friday.

Public Service Enterprise Group Incorporated (PEG) - Canvas Business Model: Revenue Streams

You're looking at the core ways Public Service Enterprise Group Incorporated (PEG) brings in cash, which is heavily weighted toward its regulated utility operations in New Jersey. Honestly, the stability here is what anchors the whole model, but the wholesale power sales add a layer of market exposure.

The biggest chunk of revenue comes from the regulated side through Public Service Electric and Gas Company (PSE&G). This is the bread and butter, covering the delivery of electricity and gas to their customer base. The recent rate case settlement from late 2024 is a big driver here. For instance, in the third quarter of 2025, PSE&G alone reported net income of $622 million and non-GAAP Operating Earnings of $565 million, up from $520 million and $448 million, respectively, in the third quarter of 2024. This reflects a full quarter of the new electric and gas base distribution rates that kicked in on October 15, 2024, which are designed to recover over $3 billion in prior system investments.

Here's a quick look at how the regulated utility segment performed in the first three quarters of 2025:

Period Ending	PSE&G Net Income (Millions USD)	PSE&G Non-GAAP Operating Earnings (Millions USD)
Q1 2025	546	546
Q2 2025	332	332
Q3 2025	622	565

Next, we have regulated transmission revenue, which Public Service Enterprise Group Incorporated (PEG) collects under Federal Energy Regulatory Commission (FERC) formula rates. These rates are key because they allow for timely recovery of capital investments in transmission infrastructure. While the specific $64 million figure you mentioned for January 1, 2025, isn't explicitly confirmed in the latest filings, we do see forward-looking indications of similar mechanisms. For example, a major transmission project awarded in late 2023 is set to recover costs via FERC regulated rate base formula rate recovery, with a filing indicating potential for $65 million in increased annual transmission revenue effective January 1, 2026, subject to true-up. That formulaic recovery provides a predictable revenue stream.

The wholesale market revenue stream comes from PSEG Power, primarily through the sales of carbon-free nuclear energy and capacity. This revenue benefits significantly from federal incentives. The positive contribution from the estimated federal nuclear Production Tax Credit (PTC) is a major factor supporting earnings, which is expected to be in effect through 2032. The performance here shows up in the PSEG Power & Other segment's non-GAAP Operating Earnings:

• First Half of 2025 Non-GAAP Operating Earnings: $224 million compared to $180 million for the first half of 2024.
• Second Quarter 2025 Non-GAAP Operating Earnings: $52 million, a substantial jump from $11 million in the second quarter of 2024.

When you aggregate all these sources, the overall financial picture for Public Service Enterprise Group Incorporated (PEG) as of late 2025 is substantial. The Total revenue for 2025 (TTM) is approximately $11.71 Billion USD. This reflects a strong year-over-year increase, especially compared to the $10.29 Billion USD reported for full-year 2024. Furthermore, management's outlook for profitability remains solid, with the Non-GAAP Operating Earnings guidance for 2025 narrowed to $4.00 to $4.06 per share, which is up about 9% at the midpoint over 2024 results. This guidance sets the base for their reiterated long-term 5% to 7% compound annual growth rate in non-GAAP Operating Earnings through 2029. Finance: draft 13-week cash view by Friday.