PEG: revenue $2.55B, net income $334.0M. PEG Q2 net income falls 43% on mark-to-market losses; new NJ law may cut annually

Filed August 4, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 5, 2025 · ~2 min read

Key Changes

• high

  Q2 2026 net income fell 43% to $334M from $585M, driven by $185M after-tax MTM losses (vs. $136M gains in Q2 2025), partially offset by higher PSE&G T&D earnings and PSEG Power capacity revenues.

  MD&A: Net Income Q2 YoY verify on EDGAR →
• high

  New Jersey legislation enacted June 2026 mandates RTO membership effective Jan 2027, potentially eliminating PSE&G's 50-bp voluntary-participation ROE adder and reducing annual net income by ~$40M.

  MD&A: Mandatory RTO membership legislation verify on EDGAR →
• high

  Five-year capital program increased to $24B-$28B (2026-2030) from $22.5B-$26B (2025-2029), with regulated capex rising to $22.5B-$25.5B, reflecting demand growth and clean energy infrastructure needs.

  MD&A: Five-year capital investment program verify on EDGAR →