PSE&G Energy Efficiency Programs Help Customers Save Nearly $960 Million a Year

Approximately 500,000 customers and nearly 22,000 businesses have made energy-saving upgrades that reduce costs, contribute to local economic activity and deliver long-term value across New Jersey communities

NEWARK, N.J., April 30, 2026 /PRNewswire/ -- PSE&G's latest energy efficiency update shows continued progress in helping customers use energy more efficiently and manage utility bills. Since the launch of the current energy efficiency program in October 2020, approximately 500,000 customers have participated in PSE&G's programs through December 2025.

PSE&G programs are now delivering nearly $960 million in annual customer bill savingsⁱ. The company has also provided approximately $1.4 billion in rebatesⁱⁱ to help reduce the upfront cost of energy-saving upgrades and products for residential and business customers. This represents real, tangible savings to participating customers, while also contributing to broader energy efficiency benefits that support the state as a whole.

Helping Customers Manage Energy Use and Costs

Customers continue using energy efficiency tools to better manage their energy use and help keep energy costs as low as possible. Recent milestones include:

• More than 108,000 home energy assessments completed
• Nearly 364,000 smart thermostats purchased through the PSE&G Marketplace
• Approximately 154,000 rebates provided for energy efficient electric appliances and equipment
• More than 34,000 appliances responsibly recycled

In addition, more than 32,000 customers are enrolled in our Demand Response programsⁱⁱⁱ, receiving an upfront reward and helping to reduce strain on the electric grid a few times per year during peak demand periods, such as the hottest days of the year.

Overall, these programs offer simple, practical ways to manage energy use, improve comfort and make informed decisions about lowering energy bills.

Supporting New Jersey Businesses, Jobs and Local Economic Activity

Approximately 22,000 businesses, including small businesses, schools, municipalities and hospitals have completed nearly 35,000 energy-saving projects with PSE&G support. This includes work with more than 2,100 small businesses across the state. These projects help manage operating costs and free up resources that organizations can reinvest back into their operations and the communities they serve.

Facing ongoing maintenance challenges and rising operating costs, the New Jersey Chamber of Commerce upgraded its historic headquarters through PSE&G's Direct Install Program, one of the many offerings within our broader business energy efficiency portfolio.

"Participating in the program allowed us to modernize our historic headquarters in a way that made sense for our operations and our budget," said Christine Lee, facilities manager for the New Jersey Chamber of Commerce. "Before the upgrades, we were dealing with ongoing repairs and inefficiencies that created real uncertainty, especially during the winter months. Today, the building is more comfortable, more reliable and more efficient, and we're able to focus our time and resources on serving our members. Over time, the savings from these upgrades will allow us to reinvest more back into our organization."

These upgrades, and the ongoing work to deliver them, are supported by a network of more than 1,000 trade allies, including more than 100 union-affiliated contractors who help implement energy efficiency improvements for customers, supporting jobs and sustaining economic activity across New Jersey. To date, union labor has directly worked on more than $130 million in energy efficiency investments.

Additionally, our energy efficiency programs have supported more than 9,300 clean energy careers^iv, helping to build and sustain a skilled local workforce.

Community and Environmental Impact

Customer actions are also driving measurable environmental gains across communities. Current results show approximately 3.3 million MWh in annual electric savings and 83 million therms in annual natural gas savings. Together, these efforts help avoid more than 2.4 million metric tons of carbon emissions each year, equivalent to removing more than 530,000 gasoline-powered‑ cars from the road annually^v. Electric savings alone are enough to power approximately 475,000 homes for one year^vi, a clear demonstration of the scale of impact.

"With nearly 500,000 customers participating and about $960 million in yearly savings, our energy efficiency programs are making a real difference for households and businesses across New Jersey," said Lauren Thomas, vice president, Clean Energy Solutions – Customer Solutions, PSE&G. "We're focused on maintaining a stable, consistent program framework that supports the workforce, encourages continued investment and allows us to build on this progress."

Keeping Bills as Low as Possible

As energy needs continue to evolve, energy efficiency remains one of the most effective tools available to help customers better manage their energy use and keep their bills as low as possible.

PSE&G will continue working with stakeholders across the state to support this shared goal and maintain a stable, accessible framework that delivers long-term value for customers and communities.

Customers can explore available programs at homeenergy.pseg.com for residential offerings or bizenergy.pseg.com for business programs.

PSE&G

Public Service Electric & Gas Co. is New Jersey's oldest and largest gas and electric delivery public utility, as well as one of the nation's largest utilities. PSE&G has won the ReliabilityOne^® Award for superior electric system reliability in the Mid-Atlantic region for 24 consecutive years. In 2025, for the fourth consecutive year, J.D. Power named PSE&G number one in customer satisfaction for residential electric service in the East among large utilities. PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG) (NYSE:PEG), a predominantly regulated infrastructure company named to the Dow Jones Sustainability Index for North America for 17 consecutive years (www.pseg.com).

Forward-Looking Statements

This release includes forward-looking statements, including but not limited to statements regarding anticipated or expected energy savings, cost saving and greenhouse gas emissions avoidance. There can be no assurance that such energy and costs savings and greenhouse gas emissions avoidance will be realized in the amounts described and / or in the timeframes anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to management but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Factors that may cause actual results to differ include, without limitation: the ability to implement our energy efficiency business strategy, and customer adoption of our energy efficiency offerings. All forward-looking statements made in this release are qualified by these cautionary statements and readers are cautioned not to place undue reliance on these forward-looking statements The forward-looking statements contained in this Report are intended to qualify for the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

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ⁱ Retail bill savings are based on rate class averages for residential and small commercial customers.

ⁱⁱ The figure reflects one-time rebates provided to help offset the upfront costs of energy-saving upgrades and products for residential and business customers. The rebate amount is not included in the annual customer savings.

ⁱⁱⁱ The Demand Response program enrollment numbers are reported through March 2026 to reflect the most current available data.

^iv The Clean Energy Jobs Program placement numbers are reported through March 2026 to reflect the most current available data.

^v Vehicle equivalency is based on EPA conversion factors.

^vi Based on the median annual consumption of PSE&G's residential customers.

CONTACT:

Media Relations

Anide Eustache

862-370-5500

anide.eustache@pseg.com 

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SOURCE Public Service Electric & Gas Company (PSE&G)