PSEG(US:PEG)2023-05-02 14:14Financial Performance - PSEG reported Non-GAAP Operating Earnings of $1.39 per share for Q1 2023[8] - PSEG reaffirmed its full-year 2023 Non-GAAP Operating Earnings guidance of $3.40 - $3.50 per share[51] - PSEG Power & Other 2023 non-GAAP Operating Earnings guidance remains unchanged at $200 million - $225 million[63] - PSEG expects PSE&G to contribute approximately 90% of the 2023 non-GAAP Operating Earnings[30] - The indicative annual common dividend for 2023 is $2.28 per share, representing a 5.6% increase over 2022[17, 30] Capital Investments and Growth - PSE&G invested approximately $0.8 billion in Q1 2023 as part of its full-year $3.5 billion capital investment program[8] - PSE&G is implementing a 5-year capital program of $15.5 billion - $18 billion, supporting a 6% - 7.5% compound annual growth in rate base over the 2023–2027 period[18, 23] - PSE&G's Clean Energy Future programs are approved to invest $2 billion to decarbonize the New Jersey economy[75] Regulatory and Policy - PSE&G is expected to file an Electric and Gas Distribution Base Rate Case by year-end 2023[28] - Gas System Modernization Program III filing proposes a $2.5 billion, three-year investment to update infrastructure and reduce greenhouse gas emissions[28] Operations - Nuclear operations achieved a high average capacity factor for Q1 2023[8] - For the trailing 12 months ended March 31, weather-normalized Electric sales increased by approximately 2%[39] - For the trailing 12 months ended March 31, weather-normalized Gas sales increased by approximately 4%[61]