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Pension and Other Postretirement Benefits (OPEB) (Tables)
9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Benefit Cost

The following table provides the components of net periodic benefit costs (credits) relating to all qualified and nonqualified pension and OPEB plans on an aggregate basis for PSEG, excluding Servco. Amounts shown do not reflect the impacts of capitalization, co-owner allocations and certain regulatory orders. Only the service cost component is eligible for capitalization, when applicable.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension Benefits

 

 

OPEB

 

 

Pension Benefits

 

 

OPEB

 

 

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

Nine Months Ended

 

 

 

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

Millions

 

 

 

Components of Net Periodic Benefit Costs (Credits)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service Cost (included in O&M Expense)

 

$

22

 

 

$

24

 

 

$

 

 

$

1

 

 

$

66

 

 

$

71

 

 

$

1

 

 

$

2

 

 

 

Non-Service Components of Pension and OPEB Costs (Credits)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Cost

 

 

57

 

 

 

57

 

 

 

9

 

 

 

9

 

 

 

173

 

 

 

169

 

 

 

27

 

 

 

28

 

 

 

Expected Return on Plan Assets

 

 

(77

)

 

 

(80

)

 

 

(8

)

 

 

(9

)

 

 

(231

)

 

 

(241

)

 

 

(25

)

 

 

(26

)

 

 

Amortization of Net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior Service Costs

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

 

 

 

 

 

 

2

 

 

 

1

 

 

 

Actuarial Loss (Gain)

 

 

16

 

 

 

17

 

 

 

(1

)

 

 

 

 

 

47

 

 

 

53

 

 

 

(3

)

 

 

(1

)

 

 

Non-Service Components of Pension and OPEB Costs (Credits)

 

 

(4

)

 

 

(6

)

 

 

1

 

 

 

 

 

 

(11

)

 

 

(19

)

 

 

1

 

 

 

2

 

 

 

Total Net Periodic Benefit Costs (Credits)

 

$

18

 

 

$

18

 

 

$

1

 

 

$

1

 

 

$

55

 

 

$

52

 

 

$

2

 

 

$

4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Pension and OPEB Costs

Pension and OPEB costs (credits) for PSE&G and PSEG Power & Other are detailed as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension Benefits

 

 

OPEB

 

 

Pension Benefits

 

 

OPEB

 

 

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

Nine Months Ended

 

 

 

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

Millions

 

 

 

PSE&G

 

$

11

 

 

$

11

 

 

$

(1

)

 

$

 

 

$

35

 

 

$

32

 

 

$

(3

)

 

$

(1

)

 

 

PSEG Power & Other

 

 

7

 

 

 

7

 

 

 

2

 

 

 

1

 

 

 

20

 

 

 

20

 

 

 

5

 

 

 

5

 

 

 

Total Net Periodic Benefit Costs (Credits)

 

$

18

 

 

$

18

 

 

$

1

 

 

$

1

 

 

$

55

 

 

$

52

 

 

$

2

 

 

$

4