PSEG(PEG), Due to Expected 140 Billion Won Tax Refund and 15 Consecutive Years of Dividend Increases......Even Fraud Warnings Emerge, Highlighting "Three-Axis Strategy"

PSEG (PEG) is enhancing its presence by simultaneously emphasizing “customer protection” along with financial performance, regulatory responses, and expanded environmental investments. From warnings about scams impersonating utility companies, to refund expectations following regulatory victories, and to dividend increases and performance growth, the company attracts both investors and consumers by releasing comprehensive information.

Recently, PSEG’s Long Island subsidiary warned that scams demanding immediate payment under the guise of power or gas outages are rapidly increasing. These scams have become more sophisticated, including fake caller IDs, counterfeit identification, fake websites, and QR code stickers on electric vehicle chargers. The company emphasizes: “Official employees only request account and ‘customer name’ verification and will never ask for PINs or personal sensitive information,” urging customers to verify directly through customer service (1-800-490-0025).

On the regulatory front, positive progress has also been made. The U.S. Federal Energy Regulatory Commission (FERC) rejected the PJM grid transmission cost reallocation agreement on March 6. PSE&G has opposed this agreement, arguing it improperly shifts costs onto its customers. The company states that this decision is expected to result in approximately $100 million (about 1.44 trillion KRW) in refunds from 2020 to 2022. If recalculated retroactively to 2015, the savings could be even larger. Industry analysts describe this as a “rare case of turning regulatory risk into actual cost savings.”

Financial performance remains solid. PSEG expects a net profit of $2.111 billion (about 3.0392 trillion KRW) in 2025, with earnings per share (EPS) of $4.22; non-GAAP operating profit is projected at $2.029 billion (about 2.9218 trillion KRW), with EPS of $4.05. The 2026 performance guidance is set at EPS of $4.28 to $4.40. Additionally, the company has increased its annual dividend to $2.68 per share, a roughly 6% increase from the previous year, marking 15 consecutive years of dividend increases and maintaining a 119-year dividend payout history.

Long-term investment plans have also expanded. The regulatory capital investment plan from 2026 to 2030 has been raised to $22.5 billion to $25.5 billion (about 32.4 trillion to 36.7 trillion KRW). PSE&G’s rate base asset growth rate (CAGR) target is set at 6% to 7.5% by 2030. This is interpreted as a strategic move to promote grid stability and investments in environmental infrastructure simultaneously.

ESG (Environmental, Social, and Governance) performance is also highlighted. PSEG was named a “Fair Capital” leader in the utility sector in 2026 and ranked 9th among the most responsible companies in the U.S. by Newsweek and Statista. The company was also listed among “America’s Top Donors.” Between 2018 and 2025, it reduced methane emissions by approximately 245,000 tons, and in 2025 alone, completed 15,000 hours of employee volunteer service and donated $12.8 million (about 184 billion KRW).

Achievements in energy efficiency projects are notable as well. Since 2020, about 480,000 customers have participated, resulting in over $900 million (about 1.296 trillion KRW) in annual electricity savings, along with 3.1 million MWh of electricity conserved and 80 million therms of natural gas saved. This equates to roughly 2.3 million tons of CO2 emissions reduced annually.

Organizationally, former PG&E CEO Gessa J. Williams has joined the board, bringing 35 years of energy industry experience. The Long Island operational contract has been extended to 2030, strengthening a stable revenue base. Power outage frequency and duration metrics in the region have improved by 26% and 47%, respectively, and customer satisfaction has received high praise.

Commentators note that PSEG is demonstrating a strategic shift beyond traditional utility limits by addressing regulatory issues, stabilizing dividends, and expanding environmental investments. Particularly, the cost refunds resulting from regulatory decisions and the expansion of long-term investments are likely to become key variables in future stock valuation reassessments.