PEG · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
PUBLIC SERVICE ENTERPRISE GROUP INC · 2026-08-04 · Importance 58 · Surprise 42 · From source text
In March 2026, PSEG, PSEG Power and PSE&G extended their existing $3.75 billion revolving credit facilities by two years through March 2031, while PSEG Power extended its $75 million letter-of-credit facility through March 2028. PSEG entered into a $500 million 364-day variable-rate term loan in February 2026 and prepaid it in June 2026; PSEG Power increased an existing term loan to $500 million and extended its maturity to December 2026. As of June 30, 2026, total committed credit facilities were $3.825 billion, with $3.210 billion of available liquidity. Potential additional collateral requirements if PSEG Power lost its investment-grade rating were approximately $705 million at June 30, 2026, compared with $703 million at December 31, 2025, and PSE&G had $850 million of secured medium-term notes due in September 2026 and May 2027.
Key facts
- In December 2025, PSEG Power amended its existing $400 million 364-day variable rate term loan, which increased the balance to $500 million and extended the maturity to December 2026. source
- In March 2026, PSEG, PSEG Power and PSE&G executed a two-year extension to their existing $3.75 billion revolving credit facilities, extending the maturity through March 2031. source
- During the next twelve months, PSE&G has $425 million of 2.25% Secured Medium-Term Notes Series L due September 2026. source
- During the next twelve months, PSE&G has $425 million of 3.00% Secured Medium-Term Notes Series L due May 2027. source
- As of June 30, 2026, PSEG’s liquidity position, including credit facilities and access to external financing, was expected to be sufficient to meet its projected stressed requirements over a 12-month planning horizon. source
- In June 2026, PSEG prepaid the $500 million term loan. source
- The potential additional collateral required if PSEG Power were to lose its investment grade credit rating was approximately $705 million as of June 30, 2026. source
- In February 2026, PSEG entered into a 364-day variable rate term loan agreement for $500 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -0.8% | In June 2026, PSEG prepaid the $500 million term loan. |
| liability | positive | realized | +0.8% | In June 2026, PSEG prepaid the $500 million term loan. |
| liability | negative | committed | -0.6% | During the next twelve months, PSE&G has $425 million of 2.25% Secured Medium-Term Notes Series L due September 2026. |
| liability | negative | contingent | -0.2% | The potential additional collateral required if PSEG Power were to lose its investment grade credit rating was approximately $705 million… |
| liability | negative | realized | -0.2% | In December 2025, PSEG Power amended its existing $400 million 364-day variable rate term loan, which increased the balance to $500… |
| liability | negative | contingent | -0.1% | The potential additional collateral required if PSEG Power were to lose its investment grade credit rating was approximately $703 million… |
| liability | negative | realized | — | As of June 30, 2026, PSEG Power total committed facility was $1,325 million and usage was $1,207 million. |
| liability | negative | realized | — | As of June 30, 2026, PSEG Power had $305 million in letters of credit outstanding under these uncommitted credit facilities. |