-- Public Service Enterprise Group (PEG) reported Q1 earnings on Tuesday, with nuclear generation slipping while electricity and gas sales volumes increased from a year earlier.
PSEG produced about 7,989 gigawatt-hours of nuclear energy in Q1, down from 8,355 GWh a year earlier.
The company's New Jersey nuclear fleet generated 5,092 GWh for the quarter ended March 31, compared with 5,464 GWh a year earlier, while Pennsylvania output rose slightly to 2,897 GWh from 2,891 GWh in the year-ago period.
PSEG delivered total electricity sales of 10.371 terawatt-hours in Q1, up 4% from a year earlier, including 3.49 TWh from residential customers and 6.78 TWh from commercial and industrial users.
Total natural gas sales and transported volumes reached 1,464 million therms in the quarter, up 7% from the year-ago period.
In the firm sales segment, residential gas sales were 792 million therms for the quarter, up 6% from a year earlier, while commercial and industrial firm sales were up 3% at 511 million therms.
Non-firm gas sales climbed to 161 million therms for the quarter, up 24% from a year earlier.
The company is advancing a capital spending plan of about $4.2 billion for 2026, focusing on infrastructure modernization, energy efficiency programs and electrification initiatives across its regulated operations.
PSEG has launched its GSMP III program, representing about $1.4 billion in planned investment over three years.
The company replaced about 165 miles of gas mains and 30,400 associated services over the trailing 12 months, compared with prior system levels, as it continued reducing methane emissions across its network.
Price: $80.87, Change: $+0.42, Percent Change: +0.52%