Publ Svc Enter (PEG) Stock News

PSE&G (PEG) has announced its preparedness for expected extreme heat conditions, with temperatures forecasted to reach over 100 degrees this weekend and throughout the summer. The utility company emphasizes its year-round system strengthening and modernization efforts to handle increased power demands. PSE&G highlights that cooling a house to 75 degrees requires 300% more electricity when outside temperatures reach 95 degrees compared to 85 degrees. The company reports significant customer participation in energy efficiency programs, with over 80,000 home energy assessments completed, 107,000 energy-efficient appliance rebates issued, and 320,000 smart thermostats sold. PSE&G offers various customer support programs, including payment assistance options and energy-saving tips, while maintaining its award-winning reliability record with 23 consecutive ReliabilityOne® Awards.

PSE&G announced BPU approval of its Summer Relief Initiative to help residential customers manage higher electricity costs. The program includes a $30 monthly credit for July-August 2025, followed by a $10 monthly repayment from September 2025 through February 2026. Additional measures include waiving reconnection fees from July-September 2025 and implementing a Summer Moratorium protection against utility shut-offs. The initiative addresses rising costs from PJM's capacity price auction while PSE&G works on long-term solutions for New Jersey's power supply-demand imbalance. The company emphasizes the need for in-state power generation development and offers various assistance programs including LIHEAP and Equal Payment Plans to help customers manage energy costs.

PSE&G announced a Summer Relief Initiative to protect residential electric customers from a 17% rate increase starting June 1, 2025. The initiative includes a Summer Moratorium from July 1 to September 30, 2025, providing utility shut-off protection for low-income customers, and suspension of reconnection fees. The company filed with the New Jersey Board of Public Utilities to defer the supply increase effects over summer months. PSE&G will continue paying electricity suppliers the full cost during this period. The rate increase stems from PJM's capacity price auction, reflecting a regional power supply-demand imbalance. Despite challenges, PSE&G maintains customer bills are near 2008 levels when adjusted for inflation. The company offers various assistance programs including LIHEAP, SHARES, Equal Payment Plan, and Deferred Payment Arrangements to help customers manage costs.

PSE&G (PEG) has filed an amended proposal with the New Jersey Board of Public Utilities to provide additional relief for customers facing significant electric supply cost increases due to PJM's high capacity market prices. The company proposed three key short-term solutions: expanding the Winter Termination Program, suspending reconnection fees, and removing carrying charges for temporary credits starting July 1, 2025. PSE&G's current customer assistance programs have helped 226,000 customers receive over $265 million in support, with their energy efficiency initiatives saving participants nearly $640 million annually. The company maintains that bills remain nearly equivalent to 2008 levels when adjusted for inflation and emphasizes its commitment to working on long-term solutions, including encouraging new generation development to address supply-demand imbalances in the PJM region.

PSEG reported strong Q1 2025 results with net income of $1.18 per share and non-GAAP operating earnings of $1.43 per share. The company maintained its 2025 non-GAAP operating earnings guidance of $3.94-$4.06 per share.

During Q1, PSE&G faced record winter peak loads for both gas and electric due to extreme cold weather, maintaining high reliability levels. The company's nuclear fleet generated 8.4 terawatt hours with a 99.9% capacity factor, providing carbon-free power.

Key highlights include:

• Over 6,400 MW of new service connection inquiries
• Implementation of Clean Energy Future - Energy Efficiency II program
• 5% increase in quarterly dividend to $0.63 per share
• Continued 5-7% compound annual growth outlook for 2025-2029

PSE&G's improved Q1 performance reflects new base rates and seasonal gas revenue, while PSEG Power & Other benefited from reliable nuclear generation and higher realized prices during cold weather.

Public Service Enterprise Group (NYSE: PEG) has announced its quarterly dividend declaration for Q2 2025. The company's Board of Directors has approved a dividend payment of $0.63 per share on its outstanding common stock. The dividend will be distributed to shareholders of record as of June 9, 2025, with payment to be completed by June 30, 2025.

PSEG (NYSE: PEG) has scheduled its first quarter 2025 earnings conference call for April 30, 2025, at 11:00 a.m. ET. During the call, management will discuss Q1 financial results, guidance, capital investments, and regulatory activities.

The company operates as a predominantly regulated infrastructure entity, managing New Jersey's largest transmission and distribution utility. PSEG serves approximately 2.4 million electric and 1.9 million natural gas customers. Additionally, the company owns 3,758 MW of carbon-free, baseload nuclear power generating units in New Jersey and Pennsylvania.

PSEG, a member of the S&P 500 Index, has maintained its position in the Dow Jones Sustainability North America Index for 17 consecutive years. The company operates through its subsidiaries: Public Service Electric and Gas Co. (PSE&G), PSEG Power, and PSEG Long Island.

PSEG Long Island announces continued availability of financial assistance programs as heating season concludes. The company's Household Assistance Program offers a monthly bill discount of $45 to eligible households, currently serving nearly 40,000 residential customers.

The utility provides multiple support channels including the Residential Energy Affordability Partnership Program, offering free home energy surveys and installations of energy-saving measures for income-eligible customers. Additionally, customers can access New York State's Home Energy Assistance Program (HEAP), which provides heating fuel grants to families with a maximum gross monthly income of $6,390 for a family of four.

The company also offers comprehensive energy-saving tips and rebates for smart thermostats, LED bulbs, and high-efficiency air source heat pumps through their Home Comfort Program.

PSEG Long Island is raising awareness about utility scams during National Consumer Protection Week (March 2-8). The company warns customers about fraudulent calls threatening immediate power shutoffs and demanding instant payment. Lou DeBrino, VP of Customer Operations, emphasizes verifying any suspicious contacts through the official customer service number.

Key scam tactics include phone spoofing, demands for specific payment methods like Bitcoin or prepaid cards, fake websites mimicking psegliny.com, and in-person imposters. PSEG Long Island confirms it doesn't accept external web-based payments outside their official channels, and legitimate representatives always verify account details with the Customer of Record.

The company, a member of Utilities United Against Scams, has helped disable over 14,830 fraudulent toll-free numbers targeting utility customers.