Public Service Enterprise Group Plans $24–28B Investment to Drive 6–7.5% Growth
Public Service Enterprise Group posted Q4 2025 non-GAAP operating EPS of $0.72, down from $0.84 year-over-year, and net income of $0.63 per share, lifting full-year EPS to $4.22. It unveiled a $24–28 billion 2026–2030 capital plan targeting a 6–7.5% rate base CAGR and is about 95% hedged for 2026.
1. Fourth Quarter and Full-Year Earnings
Public Service Enterprise Group reported non-GAAP operating earnings of $0.72 per share for Q4 2025, down from $0.84 in Q4 2024, and net income of $0.63 per share, contributing to full-year EPS of $4.22.
2. Capital Investment Plan and Growth Outlook
The company outlined a $24–28 billion investment plan for 2026–2030 focused on regulated assets, aiming for a 6–7.5% compounded annual rate base growth to support infrastructure upgrades and reliability.
3. Hedging Strategy and Regulatory Environment
Management said roughly 95% of 2026 power requirements are hedged and highlighted ongoing legislative discussions on gas and nuclear projects, with timing contingent on turbine backlogs, air permits and policy decisions.