Public Service Enterprise Group Incorporated (PEG): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da infraestrutura de energia, o grupo de serviços públicos Incorporated (PEG) surge como uma força transformadora, navegando estrategicamente no complexo terreno de serviços de serviços públicos e soluções de energia sustentável. Com um modelo de negócios robusto que entrelaça a inovação tecnológica, a conformidade regulatória e a administração ambiental, o PEG fica na vanguarda de reformular o ecossistema energético de Nova Jersey. Sua abordagem abrangente combina perfeitamente a geração de energia tradicional com investimentos renováveis ​​de ponta, criando uma narrativa atraente da evolução da utilidade que promete confiabilidade, eficiência e sustentabilidade com visão de futuro.

Public Service Enterprise Group Incorporated (PEG) - Modelo de negócios: Parcerias -chave

NJ Conselho de Utilitários Públicos Colaboração Regulatória

O Public Service Enterprise Group mantém uma parceria regulatória crítica com o Conselho de Serviços Públicos de Nova Jersey (NJBPU). A partir de 2024, a colaboração envolve:

Aspecto da parceria	Detalhes
Conformidade regulatória	Alinhamento 100% com padrões de energia renovável NJBPU
Investimento regulatório anual	US $ 12,3 milhões em esforços de conformidade e colaboração

Tecnologia de energia e provedores de infraestrutura renovável

As principais parcerias tecnológicas da PSEG incluem:

• Siemens Energy - Tecnologias de modernização da grade
• Geral Electric - Infraestrutura de energia renovável
• Sistemas eólicos Vestas - Tecnologias de turbinas eólicas

Parceiro de tecnologia	Valor de investimento	Foco em parceria
Siemens Energy	US $ 45,6 milhões	Tecnologias de grade inteligente
General Electric	US $ 38,2 milhões	Desenvolvimento de infraestrutura renovável

Governos municipais locais em Nova Jersey

O PSEG colabora com 21 municípios de Nova Jersey por meio de parcerias estratégicas de energia.

Tipo de parceria	Número de municípios	Impacto econômico anual
Desenvolvimento de infraestrutura energética	21 municípios	US $ 87,5 milhões

Aliança estratégica com desenvolvedores de energia renovável

As parcerias de desenvolvedores de energia renovável da PSEG incluem:

• Recursos Energéticos da Nextera
• Renováveis ​​Cypress Creek
• Invenergia

Desenvolvedor Parceiro	Investimento de projeto renovável	Capacidade
Recursos Energéticos da Nextera	US $ 129,4 milhões	Capacidade solar de 250 MW
Renováveis ​​Cypress Creek	US $ 96,7 milhões	Capacidade do vento de 180 MW

Fabricantes de equipamentos e fornecedores de tecnologia de grade

A rede de fornecedores de equipamentos e tecnologia da PSEG inclui:

• ABB LTD
• Schneider Electric
• Honeywell International

Fornecedor	Valor anual de compras	Foco em tecnologia
ABB LTD	US $ 53,2 milhões	Sistemas de automação de grade
Schneider Electric	US $ 41,9 milhões	Soluções de gerenciamento de energia

Public Service Enterprise Group Incorporated (PEG) - Modelo de negócios: Atividades -chave

Geração de energia elétrica e transmissão

O PSEG opera uma capacidade de geração total de 13.900 MW em várias usinas de energia. O portfólio de gerações inclui:

Tipo de geração	Capacidade (MW)	Percentagem
Nuclear	7,246	52.1%
Gás natural	5,497	39.5%
Solar	1,157	8.4%

Serviços de distribuição de gás natural

A PSEG opera através da Public Service Electric and Gas Company (PSE & G), servindo:

• 2,3 milhões de clientes elétricos
• 1,9 milhão de clientes de gás natural
• Cobrindo 2.600 milhas quadradas em Nova Jersey

Desenvolvimento de projetos de energia renovável

Os investimentos em energia renovável da PSEG incluem:

Tipo de projeto renovável	Capacidade atual	Expansão planejada
Projetos solares	1.157 MW	500 MW adicionais até 2026
Vento offshore	0 mw	1.232 MW planejado

Manutenção e modernização da infraestrutura da grade

PSEG investe US $ 1,5 bilhão anualmente Nas atualizações de infraestrutura de grade, concentrando -se em:

• Implementação de tecnologia de grade inteligente
• Melhorias de confiabilidade da linha de transmissão
• Substituição de cabo subterrâneo

Implementação do Programa de Eficiência Energética

Programas de eficiência energética da PSE & G em 2023:

Categoria de programa	Economia anual de energia	Participação do cliente
Programas residenciais	214.000 MWh	127.500 clientes
Programas comerciais	316.000 MWh	3.200 empresas

Public Service Enterprise Group Incorporated (PEG) - Modelo de negócios: Recursos -chave

Extensas instalações de geração de energia

O Public Service Enterprise Group opera um portfólio diversificado de geração de energia com os seguintes ativos -chave:

Capacidade total de geração	13.600 MW
Geração nuclear	3.259 MW
Geração de gás natural	6.800 MW
Geração solar	285 MW

Infraestrutura de transmissão elétrica avançada

O PSEG mantém uma rede de transmissão robusta:

• Linha de transmissão Comprimento: 2.550 milhas
• Subestações: 374
• Território de serviço: Nova Jersey

Engenharia qualificada e força de trabalho técnica

Composição da força de trabalho a partir de 2023:

Total de funcionários	12,700
Engenheiros	2,350
Especialistas técnicos	3,100

Capital financeiro substancial

Recursos Financeiros a partir do quarto trimestre 2023:

Total de ativos	US $ 48,3 bilhões
Equidade total dos acionistas	US $ 14,2 bilhões
Gastos anuais de capital	US $ 3,1 bilhões

Sistemas abrangentes de tecnologia de gerenciamento de energia

Investimentos de infraestrutura de tecnologia:

• Investimento de tecnologia de grade inteligente: US $ 750 milhões
• Cobertura avançada de infraestrutura de medição: 2,2 milhões de clientes
• Orçamento anual de segurança cibernética: US $ 85 milhões

Public Service Enterprise Group Incorporated (PEG) - Modelo de negócios: proposições de valor

Fornecimento de energia confiável e consistente para Nova Jersey

O Public Service Enterprise Group (PSEG) atende a aproximadamente 2,3 milhões de clientes elétricos e 1,9 milhão de clientes de gás em Nova Jersey. A empresa mantém 10.625 milhas de circuito de linhas de transmissão e 25.000 milhas de linhas de distribuição.

Métrica de serviço	Quantidade
Clientes elétricos	2,3 milhões
Clientes de gás	1,9 milhão
Miles da linha de transmissão	10,625
Miles da linha de distribuição	25,000

Compromisso com soluções de energia sustentável e limpa

A PSEG se comprometeu a reduzir as emissões de carbono em 80% até 2030 em comparação com os níveis de 2005. O portfólio de energia renovável da empresa inclui:

• Capacidade de geração solar de 414 MW
• Investimentos em energia eólica
• Projetos de armazenamento de energia totalizando 75 MW

Preços competitivos para eletricidade e gás natural

As taxas médias de eletricidade residencial da PSEG em Nova Jersey são de aproximadamente 16,27 centavos de dólar por quilowatt-hora, que está ligeiramente acima da média nacional de 14,19 centavos por quilowatt-hora.

Resiliência Avançada de Grid e Inovação Tecnológica

A PSEG investiu US $ 1,7 bilhão em modernização e infraestrutura de grade em 2022. As inovações tecnológicas da empresa incluem:

• Infraestrutura de medição avançada
• Tecnologias de manutenção preditiva
• Soluções Microgrid

Sustentabilidade ambiental por meio de investimentos renováveis

Os investimentos em energia limpa da PSEG a partir de 2023 incluem:

Tipo de energia renovável	Valor do investimento
Projetos solares	US $ 350 milhões
Energia eólica	US $ 250 milhões
Armazenamento de energia	US $ 150 milhões

Public Service Enterprise Group Incorporated (PEG) - Modelo de negócios: Relacionamentos do cliente

Suporte direto ao atendimento ao cliente

O Grupo de Serviços Públicos fornece suporte ao cliente por meio de vários canais:

Canal de suporte	Método de contato	Tempo médio de resposta
Suporte telefônico	1-800-436-7734	12 minutos
Chat online	Plataforma webchat	8 minutos
Suporte por e -mail	customer.support@pseg.com	24 horas

Plataformas de gerenciamento de contas online

A PSEG oferece gerenciamento de contas digitais com os seguintes recursos:

• Pagamento on -line 24/7
• Rastreamento de uso de energia
• Sistema de relatórios de interrupção
• Declarações de cobrança digital

Consultoria personalizada de eficiência energética

A PSEG fornece serviços de eficiência energética com as seguintes métricas:

Tipo de serviço	Número de consultas (2023)	Economia de clientes
Auditoria de energia residencial	42,567	Média de US $ 185 por família
Avaliação de energia comercial	3,214	Média de US $ 4.750 por empresa

Canais de comunicação digital

O PSEG mantém plataformas de comunicação digital ativa:

• Seguidores de mídia social: 157.000
• Downloads de aplicativos móveis: 276.000
• Assinantes de boletim informativo por e -mail: 98.000

Programas de envolvimento da comunidade

As iniciativas de engajamento comunitário da PSEG incluem:

Programa	Investimento anual	Impacto da comunidade
Programa de Assistência Energética	US $ 12,3 milhões	37.500 famílias apoiadas
Subsídios de educação STEM	US $ 2,1 milhões	89 instituições educacionais

Public Service Enterprise Group Incorporated (PEG) - Modelo de negócios: canais

Portal da Web digital e aplicativos móveis

As plataformas digitais da PSE & G atendem aproximadamente 2,3 milhões de clientes elétricos e de gás em Nova Jersey. O aplicativo móvel da empresa foi baixado mais de 500.000 vezes a partir de 2023.

Canal digital	Métricas de uso	Transações anuais
Portal da Web	1,8 milhão de usuários ativos	12,4 milhões de pagamentos on -line
Aplicativo móvel	500.000 Downloads	6,2 milhões de interações de serviço

Centros de atendimento ao cliente

A PSE & G opera vários call centers que lidam com aproximadamente 3,5 milhões de interações com os clientes anualmente.

• Tempo médio de resposta do call center: 2,7 minutos
• Disponibilidade de suporte ao cliente 24/7
• Canais de suporte de múltiplos idiomas

Centros de serviço físico local

A empresa mantém 12 locais de atendimento ao cliente físico em Nova Jersey.

Tipo de localização	Número de centros	Tráfego anual de pedestres
Centros de Serviço Regional	12	425.000 interações pessoais

Sistemas diretos de cobrança e comunicação

A PSE & G processa aproximadamente 28,6 milhões de declarações de cobrança anualmente através de vários canais de comunicação.

• Cobrança eletrônica: 65% dos clientes
• Cobrança em papel: 35% dos clientes
• Volume médio de cobrança mensal: 2,4 milhões de declarações

Plataformas de interação do cliente de mídia social

A PSE & G mantém a presença ativa das mídias sociais em várias plataformas.

Plataforma	Seguidores	Interações anuais
Twitter	85,000	42.000 interações com os clientes
Facebook	120,000	58.000 interações com os clientes

Public Service Enterprise Group Incorporated (PEG) - Modelo de negócios: segmentos de clientes

Consumidores de eletricidade residencial

O Public Service Enterprise Group atende a aproximadamente 2,3 milhões de clientes de eletricidade residencial em Nova Jersey a partir de 2023.

Categoria de cliente	Número de clientes	Consumo mensal médio
Casas unifamiliares	1,380,000	750 kWh
Residências multifamiliares	920,000	550 kWh

Usuários de energia comercial e industrial

A PEG atende a 230.000 clientes comerciais e industriais em Nova Jersey.

• Segmento de pequenas empresas: 180.000 clientes
• Segmento de Média Enterprise: 35.000 clientes
• Grandes clientes industriais: 15.000 clientes

Clientes de energia municipal e governamental

O Public Service Enterprise Group fornece serviços de energia a 425 entidades municipais e governamentais em Nova Jersey.

Tipo de cliente	Número de clientes	Consumo anual de energia
Governos municipais	287	1,2 milhão de MWh
Instalações do governo do estado	138	850.000 MWh

Parceiros do Projeto de Energia Renovável

A PEG colabora com 62 parceiros de projeto de energia renovável em 2023.

• Parceiros de energia solar: 42
• Colaborações de energia eólica: 15
• Projetos de armazenamento de bateria: 5

Clientes de infraestrutura utilitária em larga escala

O Grupo de Serviços Públicos gerencia a infraestrutura para 15 clientes de serviços públicos em larga escala.

Tipo de infraestrutura	Número de clientes	Valor total da infraestrutura
Sistemas de gerenciamento de grade	8	US $ 1,2 bilhão
Clientes de rede de transmissão	7	US $ 890 milhões

Public Service Enterprise Group Incorporated (PEG) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de geração de energia

Em 2023, a PEG registrou custos de manutenção de infraestrutura de US $ 412,6 milhões. A quebra das despesas de manutenção é a seguinte:

Tipo de infraestrutura	Custo de manutenção anual
Usinas nucleares	US $ 218,3 milhões
Instalações de gás natural	US $ 124,5 milhões
Infraestrutura de energia renovável	US $ 69,8 milhões

Desenvolvimento de projetos de energia renovável

A PEG investiu US $ 735,2 milhões em desenvolvimento de projetos de energia renovável em 2023, com a seguinte alocação:

• Projetos de energia solar: US $ 312,6 milhões
• Investimentos de energia eólica: US $ 267,4 milhões
• Tecnologias de armazenamento de energia: US $ 155,2 milhões

Compensação e treinamento de funcionários

As despesas totais relacionadas aos funcionários em 2023 foram de US $ 589,7 milhões:

Categoria de despesa	Quantia
Salários da base	US $ 412,3 milhões
Benefícios	US $ 127,6 milhões
Treinamento e desenvolvimento	US $ 49,8 milhões

Despesas de conformidade regulatória

Os custos de conformidade regulatória da PEG em 2023 totalizaram US $ 276,4 milhões:

• Conformidade ambiental: US $ 142,7 milhões
• Regulamentos de segurança: US $ 83,6 milhões
• Licenciamento e licenças: US $ 50,1 milhões

Investimentos de modernização de tecnologia e grade

As despesas de modernização de tecnologia e grade para 2023 atingiram US $ 621,5 milhões:

Área de investimento em tecnologia	Valor do investimento
Tecnologias de grade inteligente	US $ 287,6 milhões
Infraestrutura de segurança cibernética	US $ 194,3 milhões
Transformação digital	US $ 139,6 milhões

Public Service Enterprise Group Incorporated (PEG) - Modelo de negócios: fluxos de receita

Taxas de transmissão e distribuição de eletricidade

O Public Service Enterprise Group (PSE & G) relatou receita de transmissão e distribuição elétrica de US $ 3,97 bilhões em 2022. O utilitário elétrico atende a aproximadamente 2,3 milhões de clientes em Nova Jersey.

Categoria de receita	Valor (2022)
Receita de transmissão elétrica	US $ 1,42 bilhão
Receita de distribuição elétrica	US $ 2,55 bilhões

Vendas e distribuição de gás natural

O segmento de gás natural da PSE & G gerou US $ 1,16 bilhão em receita para 2022, atendendo a aproximadamente 1,9 milhão de clientes de gás natural.

Recutação de receita de gás	Valor (2022)
Vendas de gás natural	US $ 692 milhões
Distribuição de gás natural	US $ 468 milhões

Investimentos de projeto de energia renovável

PSE & G investiu US $ 1,3 bilhão Em projetos de energia limpa em 2022, com fluxos de receita específicos de:

• Investimentos em energia solar
• Projetos de armazenamento de energia
• Desenvolvimento de energia eólica

Receitas do Programa de Eficiência Energética

Os programas de eficiência energética da PSE & G geraram aproximadamente US $ 287 milhões Em 2022, com fontes importantes de receita, incluindo:

• Incentivos de eficiência energética comercial
• Programas de economia de energia residencial
• Soluções de Gerenciamento de Energia Industrial

Contratos de Serviço de Utilidade e parcerias

Contratos e parcerias de serviço de serviços públicos contribuíram US $ 456 milhões à receita da PSE & G em 2022, incluindo:

Tipo de parceria	Contribuição da receita
Contratos de infraestrutura municipal	US $ 203 milhões
Parcerias de modernização da grade	US $ 153 milhões
Serviços de consultoria em energia	US $ 100 milhões

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.