April 6, 2026

PSE&G Supports Continued Customer and Community Benefits in Energy Efficiency Triennium 2.5

PSE&G filed comments with the New Jersey Board of Public Utilities in response to the Staff’s proposed framework to extend Energy Efficiency (EE) and Peak Demand Reduction programs.  Below is a summary of the company’s position.

Executive Summary:

Overview
Public Service Electric and Gas Company (PSE&G) supports the New Jersey Board of Public Utilities Staff’s proposal to extend current Energy Efficiency (EE) and Peak Demand Reduction programs through June 2028 to continue delivering programs that help customers manage energy use and utility costs, plus stimulate local jobs.

To date, nearly 480,000 customers have participated in PSE&G’s EE programs. PSE&G has meanwhile had a special focus on growing the local workforce, particularly in the communities we serve, and has created over 7,300 clean energy careers since 2020.

Cost Saving Measures
Building on this progress, PSE&G agrees that reducing program costs is important and supports Staff’s recommendation to use gross savings, rather than net savings, to measure program impact. The Company will also propose additional cost-saving measures in its formal filing, including:

• adjustments to its administrative budgets
• expanding demand response offerings
• adjustments to the penalty and incentive structure that align the BPU’s objective to reduce costs to customers, while continuing to provide customers with energy savings options.

Program Impact and Continuity
Maintaining EE program delivery is important to avoid disruption for customers, contractors, and implementation partners. These programs continue to provide measurable benefits, including nearly $900 million in annual customer bill savings, while also delivering benefits beyond individual participation by reducing overall energy use, which helps manage system costs over time.

Position on the Final Framework
PSE&G agrees with the overall direction of the proposal and looks forward to a collaborative approach to achieving cost savings. Instead of mandating specific elements in the final framework, PSE&G recommends that cost-saving mechanisms should be evaluated through the established filing process, rather than being set through predetermined financial outcomes without an evidentiary process, such as a set return on equity (ROE).

PSE&G also offers comments on proposed changes to cost recovery and decoupling mechanisms, which could affect the ability to sustain investment levels and support the existing workforce.

The Company recommends that the final framework allow utilities to propose cost-saving measures, without requiring adherence to predefined thresholds, to enable timely establishment of an extension that reduces costs, maintains program continuity and ensures consistent delivery of benefits to customers.

The Company also seeks additional clarity in the final T2.5 framework regarding budget flexibility, filing model workbooks, expectations for quantitative performance indicators (QPIs), data requirements, filing timelines, and the status of related initiatives, including building decarbonization, demand response, and workforce development.

Achieving these objectives will require a clear and consistent regulatory framework that allows for appropriate review and supports continued investment.

August 21, 2025

PSEG supports NJUA’s statement in response to Mikie Sherrill’s Energy Platform

NJUA Statement - Mikie Sherrill's Energy Platform - on behalf of NJ’s Investor-Owned Electric Utilities:

We share New Jersey residents’ frustration with the significant bill increases from higher energy supply costs. It’s important to remember that New Jersey electric companies don’t control or earn any profit from electric supply prices. We have been sounding the alarm on the power supply-demand imbalance and advocating for market reforms for years.

Electric companies work hard to provide safe and reliable energy while protecting our customers’ interests. Electric supply cost increases and subsequent customer bill increases are driven by higher PJM capacity prices caused by declining power generation and exponentially increasing energy demand. Because electric companies themselves don’t control these costs, we are unable to reduce them. And we report our financial details regularly to the BPU by way of rate cases, where utility expenses are reviewed in a highly detailed and transparent fashion. This is how our regulators ensure that recovered expenses by utilities are “just and reasonable.”

Electric companies don’t control energy supply costs, don’t keep money collected from customers to cover those costs, and don’t benefit from them.

New Jersey imports more than 40% of its electricity – almost half – from the PJM market. Per a 1999 state law, electric companies in our state are not allowed to build and own power generation, which has precluded all New Jersey electric companies from developing or offering new sources of power supply to meet rising demand and reduce prices.

It’s clear that the state needs to take control of its energy destiny and develop and construct new power generation to meet currently increasing and anticipated future demand and we are encouraged by the discourse around options to achieve these goals in the short term to address our current crisis. The New Jersey electric companies stand ready to work with lawmakers to be a meaningful part of a solution to maintain long-term reliability and affordability for customers, including continued energy efficiency, additional power generation capabilities, and transmission to lower energy costs.

June 5, 2025

PSE&G applauds the Governor’s announcement to provide direct economic relief to lower monthly energy costs for New Jerseyans

PSE&G applauds the Governor’s announcement today. We are pleased to see continued support from the Governor’s office, leadership from the Senate and Assembly, the BPU and utilities for customer relief in response to the recent significant increase in the energy supply price. It takes a combined effort to address the affordability of electric bills as many costs continue to rise. 

Today’s announcement from the Governor’s office follows PSE&G’s Summer Relief Initiative announced earlier this week. We’re pleased to add to the breadth of solutions we have to help customers today and for the long-term. As we deliver immediate support for customers, now is also the time to turn our collective attention to long-term solutions to address the power generation supply imbalance in the state, and we remain committed to working with policymakers on long-term solutions. 

Learn more: https://www.nj.gov/governor/news/news/562025/approved/20250605a.shtml 

February 2025

NJ’s energy future is challenged; PJM generation queue is backlogged; PSE&G has solutions

PSE&G processes customer and generator interconnection requests in a timely manner to support customer reliability and affordability and align with NJ’s clean energy and other public policy goals.

PSE&G leads the way in the state in addressing customer requests to connect to the grid whether that’s solar requests, interconnecting generators connecting to the high voltage system or large and complicated customer connections. A lack of electric generation in the state poses a risk to NJ customers, PSE&G delivers solutions. Read our extended statement.

[PDF version]

May 17, 2024

PSEG Statement on FERC’s Regional Transmission and Cost Allocation Rule

PSEG supports FERC’s efforts in Order 1920 to facilitate the investment in transmission that is needed to maintain reliability and resilience for customers at this time of rapidly changing system conditions. PSEG has a long track record of making investments in transmission infrastructure, and doing so cost effectively, to maintain reliability for customers. We commend FERC for recognizing that robust, long-term transmission planning is foundational to planning the grid of the future. We look forward to continued engagement with FERC and other stakeholders to ensure customers receive reliable, resilient and affordable electricity for decades to come.

Please reach out to William Smith, PSE&G Communications, William.SmithJr@pseg.com, 862-296-3299 for further information.

August 21, 2025

PSEG supports NJUA’s statement in response to Mikie Sherrill’s Energy Platform

NJUA Statement - Mikie Sherrill's Energy Platform - on behalf of NJ’s Investor-Owned Electric Utilities:

We share New Jersey residents’ frustration with the significant bill increases from higher energy supply costs. It’s important to remember that New Jersey electric companies don’t control or earn any profit from electric supply prices. We have been sounding the alarm on the power supply-demand imbalance and advocating for market reforms for years.

Electric companies work hard to provide safe and reliable energy while protecting our customers’ interests. Electric supply cost increases and subsequent customer bill increases are driven by higher PJM capacity prices caused by declining power generation and exponentially increasing energy demand. Because electric companies themselves don’t control these costs, we are unable to reduce them. And we report our financial details regularly to the BPU by way of rate cases, where utility expenses are reviewed in a highly detailed and transparent fashion. This is how our regulators ensure that recovered expenses by utilities are “just and reasonable.”

Electric companies don’t control energy supply costs, don’t keep money collected from customers to cover those costs, and don’t benefit from them.

New Jersey imports more than 40% of its electricity – almost half – from the PJM market. Per a 1999 state law, electric companies in our state are not allowed to build and own power generation, which has precluded all New Jersey electric companies from developing or offering new sources of power supply to meet rising demand and reduce prices.

It’s clear that the state needs to take control of its energy destiny and develop and construct new power generation to meet currently increasing and anticipated future demand and we are encouraged by the discourse around options to achieve these goals in the short term to address our current crisis. The New Jersey electric companies stand ready to work with lawmakers to be a meaningful part of a solution to maintain long-term reliability and affordability for customers, including continued energy efficiency, additional power generation capabilities, and transmission to lower energy costs.

June 5, 2025

PSE&G applauds the Governor’s announcement to provide direct economic relief to lower monthly energy costs for New Jerseyans

PSE&G applauds the Governor’s announcement today. We are pleased to see continued support from the Governor’s office, leadership from the Senate and Assembly, the BPU and utilities for customer relief in response to the recent significant increase in the energy supply price. It takes a combined effort to address the affordability of electric bills as many costs continue to rise. 

Today’s announcement from the Governor’s office follows PSE&G’s Summer Relief Initiative announced earlier this week. We’re pleased to add to the breadth of solutions we have to help customers today and for the long-term. As we deliver immediate support for customers, now is also the time to turn our collective attention to long-term solutions to address the power generation supply imbalance in the state, and we remain committed to working with policymakers on long-term solutions. 

Learn more: https://www.nj.gov/governor/news/news/562025/approved/20250605a.shtml 

February 2025

NJ’s energy future is challenged; PJM generation queue is backlogged; PSE&G has solutions

PSE&G processes customer and generator interconnection requests in a timely manner to support customer reliability and affordability and align with NJ’s clean energy and other public policy goals.

PSE&G leads the way in the state in addressing customer requests to connect to the grid whether that’s solar requests, interconnecting generators connecting to the high voltage system or large and complicated customer connections. A lack of electric generation in the state poses a risk to NJ customers, PSE&G delivers solutions. Read our extended statement.

[PDF version]

May 17, 2024

PSEG Statement on FERC’s Regional Transmission and Cost Allocation Rule

PSEG supports FERC’s efforts in Order 1920 to facilitate the investment in transmission that is needed to maintain reliability and resilience for customers at this time of rapidly changing system conditions. PSEG has a long track record of making investments in transmission infrastructure, and doing so cost effectively, to maintain reliability for customers. We commend FERC for recognizing that robust, long-term transmission planning is foundational to planning the grid of the future. We look forward to continued engagement with FERC and other stakeholders to ensure customers receive reliable, resilient and affordable electricity for decades to come.

Please reach out to William Smith, PSE&G Communications, William.SmithJr@pseg.com, 862-296-3299 for further information.