v3.25.1
Pension and Other Postretirement Benefits (OPEB) (Tables)
3 Months Ended
Mar. 31, 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

 

 

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

 

 

 

March 31,

 

 

March 31,

 

 

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

Millions

 

 

 

Components of Net Periodic Benefit (Credits) Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service Cost (included in O&M Expense)

 

$

22

 

 

$

23

 

 

$

 

 

$

1

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Cost

 

 

58

 

 

 

56

 

 

 

9

 

 

 

9

 

 

 

Expected Return on Plan Assets

 

 

(77

)

 

 

(80

)

 

 

(8

)

 

 

(9

)

 

 

Amortization of Net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior Service Credit

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

Actuarial Loss (Gain)

 

 

15

 

 

 

18

 

 

 

(1

)

 

 

 

 

 

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

 

 

(4

)

 

 

(6

)

 

 

1

 

 

 

 

 

 

Total Net Benefit (Credits) Costs

 

$

18

 

 

$

17

 

 

$

1

 

 

$

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Pension and OPEB Costs

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension Benefits

 

 

OPEB

 

 

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

 

 

 

March 31,

 

 

March 31,

 

 

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

Millions

 

 

 

PSE&G

 

$

12

 

 

$

11

 

 

$

(1

)

 

$

 

 

 

PSEG Power & Other

 

 

6

 

 

 

6

 

 

 

2

 

 

 

1

 

 

 

Total Net Benefit (Credits) Costs

 

$

18

 

 

$

17

 

 

$

1

 

 

$

1