Public Service Enterprise Group (PEG) presents at 2022 EEI Financial Conference - Slideshow

Financial Performance and Guidance - PSEG narrowed its 2022 Operating EPS Guidance to $3.40 – $3.50 per share[15] - PSEG reaffirmed its 2022 – 2025 Operating EPS CAGR of 5% – 7%[15] - PSEG initiated 2023 Operating EPS Guidance of $3.35 – $3.55 per share[15] - PSEG established a 2023 – 2027 Operating EPS CAGR of 5% – 7%, driven by PSE&G Rate Base growth and Nuclear at PTC value[15] Capital Investment and Rate Base - PSE&G's capital spending plan is now $15.5 billion – $18 billion from 2023 – 2027[15] - PSE&G Rate Base CAGR to 2027 is now 6% – 7.5%[15] - PSE&G will begin to recover a return "of and on" approximately $3.3 billion of capital when new rates go into effect, representing an approximately $0.30 per share benefit in 2025[30] Factors Affecting Earnings - The net effect of 2022 asset returns on 2023 headwinds is estimated to be PSE&G ~$0.20 per share and CFIO ~$0.05 to ~$0.10 per share[18] - PSEG has approximately $3.4 billion of available liquidity plus cash and short-term investments of $0.4 billion (inclusive of $0.3 billion at PSE&G) at 9/30/2022[52] Nuclear and Regulatory - PSEG qualifies for the initial PTC of up to $15/MWh subject to adjustment based on gross receipts[41] - Nuclear contracted energy sales are projected at 30-32 TWh in 2023E and 29-31 TWh in 2024E[62]