PEG · 10-Q · 2026Q2 · Full report

Operating Expense Trends

PUBLIC SERVICE ENTERPRISE GROUP INC · 2026-08-04 · Importance 25 · Surprise 6 · Matches filing data

PSE&G’s six-month O&M expense increased $102 million, including $80 million of higher clause and renewable expenditures, $4 million of higher distribution and transmission operating expenditures, and $18 million of higher other operating and Services expenses. PSE&G’s six-month energy costs increased $280 million and depreciation and amortization increased $26 million, primarily because of higher gas and electric program activity, plant placed in service, software amortization, and regulatory-asset amortization. PSEG Power & Other’s six-month O&M expense decreased $32 million because of an indirect-tax adjustment and lower nuclear and other operating expenses. Consolidated interest expense also increased as PSE&G reported a $31 million increase and PSEG Power & Other reported a $19 million increase due to incremental debt and refinancing maturities at higher rates.

Key facts

• PSE&G’s O&M includes amortization of EE programs regulatory expenditures of $53 million and $41 million for the three months ended June 30, 2026 and 2025, respectively, and $103 million and $79 million for the six months ended June 30, 2026 and 2025, respectively. source
• For the six months ended June 30, 2026 PSE&G Operation and Maintenance increased $102 million due primarily to $80 million in higher clause and renewable expenditures, $4 million in higher distribution and transmission operational expenditures and $18 million in higher other operating and Services expenses. source
• Operation and Maintenance at PSE&G increased $41 million for the three months ended June 30, 2026 due primarily to $28 million in higher clause and renewable expenditures and $13 million in higher other operating and Services expenses. source
• PSE&G had cost of removal, net of salvage, of $74 million associated with capital replacements during the six months ended June 30, 2026. source

Impact estimates