PSE&G's efforts protect its customers, delivering potentially millions of dollars in real savings to families and businesses

NEWARK, N.J., March 17, 2026 /PRNewswire/ -- PSE&G announced today that the Federal Energy Regulatory Commission (FERC) has issued a major decision rejecting a proposed settlement that would have disproportionately allocated transmission costs to customers—delivering a significant win for PSE&G customers. FERC's March 6 order (FERC Order number 20260306-3001) found that the proposed settlement would have disproportionately and unfairly shifted transmission project costs.

PSE&G was the only electric utility in PJM that opposed the settlement, which has now been rejected by FERC. Had the settlement been approved, it would have imposed significant and unfair cost burdens on PSE&G customers.

PSE&G argued that the proposal was unjust, unreasonable, unduly discriminatory, and unsupported by the evidence—arguments FERC ultimately adopted in its order. Along with the NJ BPU and the NJ Division of Rate Counsel, PSE&G filed multiple rounds of pleadings opposing the settlement.

"PSE&G fights for our customers every single day, and this decision shows what that commitment means in real terms," said PSE&G President and Chief Operating Officer, Public Service Electric and Gas Company, Kim Hanemann. "We strongly opposed this proposed settlement because it unfairly raised costs for families and businesses. We're grateful that FERC agreed, and we're proud to stand with NJ BPU and the NJ Division of Rate Counsel in protecting the people we serve."

Hanemann added: "We work hard to keep energy costs as low as possible. We deliver industry leading reliability, but we also work tirelessly behind the scenes to make sure customers aren't paying more than they should. The FERC decision will save our customers hundreds of millions of dollars—money that will be returned to PSE&G customers.

PSE&G estimates that its customers will receive refunds in the amount of approximately $100 million for a three-year period (2020, 2021, and 2022) alone as a result of the order rejecting the proposed settlement. Because FERC has directed PJM to recalculate cost assignments dating back to 2015, the actual savings figure is expected to be higher.

PSE&G works hard every day to strengthen the reliability and resilience of New Jersey's energy system. Our efforts in the proceeding also demonstrate our longstanding commitment to ensure fair, responsible energy costs.

About PSE&G

Public Service Electric & Gas Co. is New Jersey's oldest and largest gas and electric delivery public utility, as well as one of the nation's largest utilities. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 24 consecutive years. In 2025, for the fourth consecutive year, J.D. Power named PSE&G number one in customer satisfaction for residential electric service in the East among large utilities. PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG) (NYSE: PEG), a predominantly regulated infrastructure company named to the Dow Jones Sustainability Index for North America for 17 consecutive years (www.pseg.com).

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SOURCE PSEG