Newark, New Jersey, May 1, 2026, 07:21 (ET)
- PSE&G reports its energy-efficiency programs are now delivering close to $960 million in annual savings for customers.
- PSEG’s latest update comes on the heels of its Earth Day disclosure, which detailed emissions reductions, habitat initiatives, and savings for customers.
- PSEG is set to deliver its first-quarter results on May 5, giving investors a more complete picture.
PSE&G says its energy-efficiency efforts are saving New Jersey customers close to $960 million annually—a figure the company is spotlighting as PSEG leans into Earth Day themes. Lower bills, fewer emissions, more community impact: that’s the pitch, arriving just before the parent utility’s quarterly report. Since launching the existing program in October 2020, roughly 500,000 households and almost 22,000 businesses have opted for energy-saving upgrades, according to the company.
Timing’s key here. Public Service Enterprise Group is set to release first-quarter numbers on May 5, and management will be on the hook to talk about guidance, capex, and regulatory questions—the very topics that shape how much room there is for both customer-bill relief and clean-energy investment.
PSEG is guiding for 2026 non-GAAP operating earnings between $4.28 and $4.40 per share. The company also bumped up its capital spending plan for 2026 through 2030, now targeting $24 billion to $28 billion—mainly for regulated projects. Non-GAAP figures strip out certain items the company says aren’t part of its usual business results.
The company’s April 30 update followed its Earth Day release, which reported PSEG had planted 775 trees, maintained 51 pollinator habitats across roughly 325 acres, and assisted close to 480,000 customers in joining Clean Energy Future energy-efficiency programs in 2025.
PSEG noted it had already slashed its Scope 1 and Scope 2 operational emissions by 95% compared to 2005 levels. Scope 1 refers to direct emissions from its own operations, while Scope 2 includes emissions from the electricity and energy it buys.
Lauren Thomas, vice president for Clean Energy Solutions – Customer Solutions at PSE&G, pointed out that the programs are delivering results for New Jersey, with close to 500,000 customers involved and annual savings reaching roughly $960 million.
PSEG’s Rick Thigpen, senior vice president for corporate citizenship, drew a direct line between the company’s environmental efforts and its day-to-day operations. “Caring for the environment is core,” Thigpen said on Earth Day. He pointed to emissions cuts, wildlife habitat programs, and energy-efficiency as elements of PSEG’s public-service role. PR Newswire
The utility reports its efficiency programs are driving around 3.3 million megawatt-hours of electricity savings yearly, along with 83 million therms of natural-gas savings. That translates to more than 2.4 million metric tons of carbon emissions avoided on an annual basis, using company estimates tied to EPA conversion factors.
There’s no shortage of competition. JUST Capital tapped both Constellation Energy and PSEG as 2026 utilities industry leaders. Newsweek and Statista, for their part, put PSEG ninth across all companies, and gave it the top spot in the energy and utilities group, on the America’s Most Responsible Companies 2026 list.
Nuclear is still front and center for PSEG. The firm points out its reactors account for over 80% of New Jersey’s carbon-free electricity, and supply 40% of the state’s total output. That adds up to a much cleaner mix than rival utilities tied more closely to fossil fuels.
The plan’s not set in stone. PSE&G flagged that actual energy and cost savings—and emissions cuts—are projections, hinging on successful rollout and whether customers stick with the utility’s energy-efficiency options.
Shareholder payouts are still in focus. PSEG’s board set a $0.67 per share dividend for the second quarter, to be paid by June 30 to investors on record as of June 9. Earlier, the company noted that its planned 2026 annual dividend hike would make it 15 consecutive years of increases.
