The company said its regulated rate base increased from approximately $30 billion as of December 31, 2023 to approximately $34 billion as of December 31, 2024. It cited higher working capital recovery approved in the distribution rate case along with the investments.

1. 01

   The company said its regulated rate base increased from approximately $30 billion as of December 31, 2023 to approximately $34 billion as of December 31, 2024. It cited higher working capital recovery approved in the distribution rate case along with the investments.

2. 02

   The company said its regulated capital investment program for 2025 through 2029 is estimated to be in a range of $21 billion to $24 billion, and it expects a compound annual growth rate in its regulated rate base in a range of 6% to 7.5% from year-end 2024 to year-end 2029. Its total capital investment program is $22.5 billion to $26 billion.

3. 03

   The company cited changes in mark-to-market gains and losses as the primary driver of its decrease in net income for 2024 compared with 2023. It also cited higher earnings from continued investments in transmission and distribution clause programs and settlement of the distribution base rate case at PSE&G, production tax credits beginning in 2024 at PSEG Power, and a pension settlement charge in 2023.

4. 04

   The company said operating cash flow for 2024 decreased $1,673 million compared with 2023. It cited net cash collateral postings of $131 million outflow at PSEG Power in 2023 compared with $1,408 million inflow as the primary factor.

Key figures

Fiscal year ended December 31, 2024

Revenue

$10.3B

Operating income

$2.4B

Net income

$1.8B

EPS

$3.54

Operating cash flow

$2.1B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.