In 2025, PSEG continued its focused on doing the work necessary to power the lives of 2.4 million electric and 1.9 million gas customers in New Jersey, along with 1.1 million electric customers on Long Island, while safely delivering 24/7 carbon-free energy with our nuclear generating fleet.
The year also focused on how we can meet customers’ where they are because we understand that 2025 was a challenging year for many in the state.
Throughout the year, our focus remained on being ready to meet customers’ changing energy needs, providing bill management support and energy efficiency solutions while strengthening the support we provide to our communities.
It’s critical we prepare responsibly for the future so we can deliver greater stability, predictability and reliability in the years ahead.
Ready for today, ready for the future
Our focus is simple: making sure customers have access to energy that is safe, reliable, affordable and ready for the future. In 2025, we continued our work to strengthen substations, upgrade transmission lines and modernize equipment. In the decade since Superstorm Sandy, we’ve raised 42 substations, dramatically reducing flood risk during major weather events and installed technology that allows for faster outage detection, diagnosis and restoration during outages.
These efforts have made the grid more resilient and reliable for millions of customers. We are also investing to modernize our gas distribution system, replacing aging cast iron and steel pipes with state‑of‑the‑art lines. These upgrades reduce leaks, improve safety and strengthen resiliency during storm events.
This work is about more than preventing outages or service disruptions. We know many customers have felt the impact of rising energy costs, and we take seriously our responsibility to deliver value and reliability wherever we can. By combining long‑term planning with ongoing upgrades, we’re working to ensure that the system remains strong, dependable and prepared for severe weather—so families and businesses can count on safe, high‑quality service when they need it most.
Recognition for our reliability efforts
In 2025, we earned national recognition for our customer service. We received three ReliabilityOne awards: Outstanding Metropolitan Service Area Reliability Performance for the 24th year in a row, the Customer Engagement Award for the third consecutive year and the award for Outstanding System Resilience.
In mid-December, J.D. Power also named PSE&G number one in customer satisfaction with residential electric service in the east among large utilities. PSEG Long Island and PSE&G were the #1 and #2 ranked utilities in customer satisfaction among large electric utility business customers in the East, according to the J.D. Power 2025 Electric Utility Business Customer Satisfaction Study. PSEG Long Island took the #1 spot, capping off an 11-year climb from the bottom of the rankings in 2014 to the top spot today, making it the most improved electric service provider in the nation.
In late September, the board of the Long Island Power Authority (LIPA) awarded PSEG a 5-year contract extension to continue operating the electric grid on Long Island and the Rockaways. The extension—which is subject to New York Comptroller approval—is a testament to the hard work of our PSEG Long Island employees, and we look forward to the next five years and beyond.
These honors reflect our ongoing efforts to provide dependable service and put customers at the center of everything we do.
Responding to New Jersey’s growing energy demands
New Jersey’s energy demand is growing, while supply is tightening. Today, New Jersey imports 40% to 50% of its electricity, and that is expected to increase. We estimate that the state may need as much as 6,000 megawatts of new generation to close the gap.
PSEG has been advocating that the state develop an integrated resource plan and open a process to procure in-state generation. We welcome and support opening opportunities for utilities to compete to build new generation. We are ready to do our part to address the state’s future energy needs and help deliver solutions that strengthen reliability and help manage customer costs.
A focus on keeping bills as low as possible
We work hard to keep costs as low as possible, but we know our customers faced some bill increases due to higher costs of energy from the regional grid. While we don’t control these costs, we know this has been challenging for many of our customers.
Through Energy Assistance Days and nonprofit partnerships, we helped thousands access payment assistance programs and learn about energy efficiency, rebates and other ways to reduce costs. We hosted or participated in more than 400 community and business outreach events to promote and drive participation in these programs, as well as other affordability solutions, to help our customers save energy and manage bills. More than 206,000 customers received $155 million through payment assistance programs from January through October 2025.
We also launched a Summer Relief Initiative, expanding protections like our Winter Termination Program to give customers extra breathing room during the hottest months. And through March 2025, nearly 465,000 customers participated in PSE&G’s energy efficiency initiatives, collectively saving over $720 million annually on their utility bills.
Additionally, in early December PSE&G and the PSEG Foundation launched $1.5 million Community Relief Initiative to provide support in times of need to over 25 local organizations that provide critical assistance to households facing economic hardship.
Empowering communities and employees
The dedication of our 13,000 employees is the backbone of our success. The PSEG Foundation, a separate 501(c)(3) entity, aims to support initiatives that drive toward achieving tangible, lasting results and constantly evolve to bring innovative solutions to the social challenges facing our world. The Foundation’s strategic priorities focus on environmental sustainability, social justice and equity and economic empowerment.
In 2025, the Foundation focused its support on addressing an aspect of the overall affordability crisis with support to organizations that address food insecurity and provide comprehensive wrap-around services. Estimated giving is around $8 million which includes matching approximately $1 million in employee donations to support hundreds of nonprofit organizations.
As we close 2025, we remain focused on our customers and on delivering energy they can depend on. We are ready for tomorrow, and delivering for our communities today.
