PUBLIC SERVICE ELECTRIC & GAS CO

For the period ended Sep 30, 2026. Filed Nov 2, 2026.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Nov 2, 2026

PEG$74.68-0.5%Stored close · as of Nov 10, 2026

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Public Service Electric and Gas Company

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended · Nine Months Ended
September 30, · September 30,
2026 · 2025 · 2026 · 2025
OPERATING REVENUES	$2,526	$2,535	$7,748	$7,230
OPERATING EXPENSES
Energy Costs	966	1,013	3,100	2,867
Operation and Maintenance	573	543	1,755	1,623
Depreciation and Amortization	291	277	872	832
Total Operating Expenses	1,830	1,833	5,727	5,322
OPERATING INCOME	696	702	2,021	1,908
Net Other Income (Deductions)	23	16	59	48
Net Non-Operating Pension and OPEB Credits (Costs)	19	17	56	52
Interest Expense	(183)	(162)	(532)	(480)
INCOME BEFORE INCOME TAXES	555	573	1,604	1,528
Income Tax Expense	(49)	(58)	(179)	(135)
NET INCOME	$506	$515	$1,425	$1,393

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Three Months Ended · Nine Months Ended
September 30, · September 30,
2026 · 2025 · 2026 · 2025
NET INCOME	$506	$515	$1,425	$1,393
Unrealized Gains (Losses) on Available-for-Sale Securities, net of tax (expense) benefit of $0 for the three and nine months ended 2026 and 2025	(1)	1	(1)	1
COMPREHENSIVE INCOME	$505	$516	$1,424	$1,394

September 30,2026 · December 31,2025
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	$793	$97
Accounts Receivable, net of allowance of $236 in 2026 and $248 in 2025	1,466	1,431
Unbilled Revenues, net of allowance of $4 in 2026 and $6 in 2025	260	381
Accounts Receivable - Affiliated Companies	96	—
Materials and Supplies, net	588	613
Prepayments	167	17
Regulatory Assets	385	537
Other	18	11
Total Current Assets	3,773	3,087
PROPERTY, PLANT AND EQUIPMENT	50,677	48,752
Less: Accumulated Depreciation and Amortization	(10,262)	(9,767)
Net Property, Plant and Equipment	40,415	38,985
NONCURRENT ASSETS
Regulatory Assets	6,838	6,431
Operating Lease Right-of-Use Assets	98	84
Long-Term Investments	329	199
Rabbi Trust Fund	27	29
Other	323	209
Total Noncurrent Assets	7,615	6,952
TOTAL ASSETS	$51,803	$49,024

September 30,2026 · December 31,2025
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES
Long-Term Debt Due Within One Year	$425	$875
Commercial Paper and Loans	—	325
Accounts Payable	989	866
Accounts Payable—Affiliated Companies	158	472
Accrued Interest	156	197
New Jersey Clean Energy Program	189	145
Obligation to Return Cash Collateral	236	106
Regulatory Liabilities	606	484
Other	325	324
Total Current Liabilities	3,084	3,794
NONCURRENT LIABILITIES
Deferred Income Taxes and ITC	7,559	7,074
Regulatory Liabilities	1,914	2,048
Operating Leases	85	73
Asset Retirement Obligations	456	457
OPEB Costs	123	126
Accrued Pension Costs	142	164
Environmental Costs	167	160
Long-Term Accrued Taxes	194	7
Other	232	188
Total Noncurrent Liabilities	10,872	10,297
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 8)
CAPITALIZATION
LONG-TERM DEBT	16,682	15,117
STOCKHOLDER’S EQUITY
Common Stock; 150 shares authorized; issued and outstanding, 2026 and 2025—132 shares	892	892
Contributed Capital	2,156	2,156
Retained Earnings	18,121	16,771
Accumulated Other Comprehensive Loss	(4)	(3)
Total Stockholder’s Equity	21,165	19,816
Total Capitalization	37,847	34,933
TOTAL LIABILITIES AND CAPITALIZATION	$51,803	$49,024

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine Months Ended
September 30,
2026 · 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$1,425	$1,393
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:
Depreciation and Amortization	872	832
Provision for Deferred Income Taxes and ITC	106	(60)
Non-Cash Long-Term Accrued Taxes	187	6
Non-Cash Employee Benefit Plan (Credits) Costs	2	32
Cost of Removal	(118)	(117)
Energy Efficiency Programs Regulatory Expenditures	(473)	(504)
Amortization of Energy Efficiency Programs Regulatory Expenditures	158	122
Net Change in Other Regulatory Assets and Liabilities	447	148
Net Change in Certain Current Assets and Liabilities:
Accounts Receivable and Unbilled Revenues	83	(62)
Materials and Supplies	25	24
Prepayments	(150)	(122)
Accounts Payable	(58)	26
Accounts Receivable/Payable—Affiliated Companies, net	(432)	(54)
Obligation to Return Cash Collateral	130	6
Other Current Assets and Liabilities	(47)	(101)
Employee Benefit Plan Funding and Related Payments	(25)	(23)
Other	(76)	(18)
Net Cash Provided By (Used In) Operating Activities	2,056	1,528
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant and Equipment	(1,947)	(1,893)
Proceeds from Sales of Trust Investments	5	4
Purchases of Trust Investments	(3)	(3)
Other	(121)	15
Net Cash Provided By (Used In) Investing Activities	(2,066)	(1,877)
CASH FLOWS FROM FINANCING ACTIVITIES
Net Change in Commercial Paper and Loans	(325)	(444)
Issuance of Long-Term Debt	2,000	1,350
Redemption of Long-Term Debt	(875)	(350)
Cash Dividends Paid	(75)	—
Other	(19)	(16)
Net Cash Provided By (Used In) Financing Activities	706	540
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash	696	191
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	121	108
Cash, Cash Equivalents and Restricted Cash at End of Period	$817	$299
Supplemental Disclosure of Cash Flow Information:
Net Income Taxes Paid (Received)	$101	$(7)
Interest Paid, Net of Amounts Capitalized	$566	$505
Accrued Property, Plant and Equipment Expenditures	$516	$373

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDER’S EQUITY

CommonStock · ContributedCapital · RetainedEarnings · AccumulatedOtherComprehensiveIncome (Loss) · Total
Balance as of June 30, 2026	$892	$2,156	$17,690	$(3)	$20,735
Net Income	—	—	506	—	506
Other Comprehensive Income (Loss), net of tax (expense) benefit of $0	—	—	—	(1)	(1)
Comprehensive Income				505
Cash Dividend Paid	—	—	(75)	—	(75)
Balance as of September 30, 2026	$892	$2,156	$18,121	$(4)	$21,165
Balance as of June 30, 2025	$892	$2,156	$16,279	$(4)	$19,323
Net Income	—	—	515	—	515
Other Comprehensive Income (Loss), net of tax (expense) benefit of $0	—	—	—	1	1
Comprehensive Income				516
Balance as of September 30, 2025	$892	$2,156	$16,794	$(3)	$19,839

CommonStock · ContributedCapital · RetainedEarnings · AccumulatedOtherComprehensiveIncome (Loss) · Total
Balance as of December 31, 2025	$892	$2,156	$16,771	$(3)	$19,816
Net Income	—	—	1,425	—	1,425
Other Comprehensive Income (Loss), net of tax (expense) benefit of $0	—	—	—	(1)	(1)
Comprehensive Income				1,424
Cash Dividend Paid	—	—	(75)	—	(75)
Balance as of September 30, 2026	$892	$2,156	$18,121	$(4)	$21,165
Balance as of December 31, 2024	$892	$2,156	$15,401	$(4)	$18,445
Net Income	—	—	1,393	—	1,393
Other Comprehensive Income (Loss), net of tax (expense) benefit of $0	—	—	—	1	1
Comprehensive Income				1,394
Balance as of September 30, 2025	$892	$2,156	$16,794	$(3)	$19,839

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