(A) The following Financial Statements are filed as a part of this report:
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| a. | Public Service Enterprise Group Incorporated’s Consolidated Balance Sheets as of December 31, 2016 and 2015 and the related Consolidated Statements of Operations, Comprehensive Income, Cash Flows and Stockholders’ Equity for the three years ended December 31, 2016 on pages 78 through 83. |
| |
|---|
| b. | Public Service Electric and Gas Company’s Consolidated Balance Sheets as of December 31, 2016 and 2015 and the related Consolidated Statements of Operations, Comprehensive Income, Cash Flows and Common Stockholder’s Equity for the three years ended December 31, 2016 on pages 84 through 89. |
| |
|---|
| c. | PSEG Power LLC’s Consolidated Balance Sheets as of December 31, 2016 and 2015 and the related Consolidated Statements of Operations, Comprehensive Income, Cash Flows and Capitalization and Member’s Equity for the three years ended December 31, 2016 on pages 90 through 95. |
(B) The following documents are filed as a part of this report:
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|---|
| a. | PSEG’s Financial Statement Schedules: |
Schedule II—Valuation and Qualifying Accounts for each of the three years in the period ended December 31, 2016 (page 192).
| |
|---|
| b. | PSE&G’s Financial Statement Schedules: |
Schedule II—Valuation and Qualifying Accounts for each of the three years in the period ended December 31, 2016 (page 192).
| |
|---|
| c. | Power’s Financial Statement Schedules: |
Schedule II—Valuation and Qualifying Accounts for each of the three years in the period ended December 31, 2016 (page 192).
Schedules other than those listed above are omitted for the reason that they are not required or are not applicable, or the required information is shown in the consolidated financial statements or notes thereto.
(C) The following documents are filed as part of this report:
| LIST OF EXHIBITS: | | |
|---|
| | |
| a. | | PSEG: |
| 3a | | Certificate of Incorporation Public Service Enterprise Group Incorporated(1) |
| 3b | | Certificate of Amendment of Certificate of Incorporation of Public Service Enterprise Group Incorporated, effective April 23, 1987(2) |
| 3c | | Certificate of Amendment of Certificate of Incorporation of Public Service Enterprise Group Incorporated, effective April 20, 2007(3) |
| 3d | | By-Laws of Public Service Enterprise Group Incorporated effective December 15, 2015(4) |
| LIST OF EXHIBITS: | | |
|---|
| | |
| 4a | | Indenture between Public Service Enterprise Group Incorporated and First Union National Bank (U.S. Bank National Association, successor), as Trustee, dated January 1, 1998 providing for Deferrable Interest Subordinated Debentures in Series (relating to Quarterly Preferred Securities)(5) |
| 4b | | Indenture between Public Service Enterprise Group Incorporated and U.S. Bank National Association (as successor to First Union National Bank), as Trustee, dated November 1, 1998 providing for Senior Debt Securities(6) |
| 10a(1) | | Supplemental Executive Retirement Income Plan, effective as of May 31, 2011(7) |
| 10a(2) | | Retirement Income Reinstatement Plan for Non-Represented Employees as amended May 31, 2011(8) |
| 10a(3) | | Employment Agreement with William Levis dated December 8, 2006(9) |
| 10a(4) | | Amended and Restated 2007 Equity Compensation Plan for Outside Directors, effective July 19, 2011(10) |
| 10a(5) | | Deferred Compensation Plan for Directors, amended July 19, 2011(11) |
| 10a(6) | | Deferred Compensation Plan for Certain Employees, amended November 1, 2011(12) |
| 10a(7) | | 1989 Long-Term Incentive Plan, as amended(13) |
| 10a(8) | | 2001 Long-Term Incentive Plan(14) |
| 10a(9) | | Senior Management Incentive Compensation Plan(15) |
| 10a(10) | | Key Executive Severance Plan of Public Service Enterprise Group Incorporated, Amended effective February 20, 2017 |
| 10a(11) | | Severance Agreement with Ralph Izzo dated December 16, 2008(16) |
| 10a(12) | | Stock Plan for Outside Directors, as amended(17) |
| 10a(13) | | Compensation Plan for Outside Directors(18) |
| 10a(14) | | 2004 Long-Term Incentive Plan, amended and restated as of April 16, 2013(19) |
| 10a(15) | | Form of Agreement for Advancement of Expenses with Outside Directors(20) |
| 10a(16) | | Equity Deferral Plan, effective November 1, 2011, amended December 9, 2011(21) |
| 10a(17) | | Amendment to Employment Agreement with William Levis, dated September 19, 2011(22) |
| 10a(18) | | Agreement with Tamara L. Linde dated June 18, 2014(23) |
| 10a(19) | | Agreement with Daniel J. Cregg dated September 22, 2015(24) |
| 10a(20) | | Clawback Practice, effective December 15, 2015(25) |
| 12 | | Computation of Ratios of Earnings to Fixed Charges |
| 21 | | Subsidiaries of the Registrant |
| 23 | | Consent of Independent Registered Public Accounting Firm |
| 31 | | Certification by Ralph Izzo, pursuant to Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934 (1934 Act) |
| 31a | | Certification by Daniel J. Cregg, pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| 32 | | Certification by Ralph Izzo, pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| 32a | | Certification by Daniel J. Cregg, pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| 101.INS | | XBRL Instance Document |
| 101.SCH | | XBRL Taxonomy Extension Schema |
| 101.CAL | | XBRL Taxonomy Calculation Linkbase |
| 101.LAB | | XBRL Taxonomy Extension Labels Linkbase |
| 101.PRE | | XBRL Taxonomy Extension Presentation Linkbase |
| 101.DEF | | XBRL Taxonomy Extension Definition Document |
| b. | | Power: |
| 3a | | Certificate of Formation of PSEG Power LLC(26) |
| 3b | | PSEG Power LLC Limited Liability Company Agreement(27) |
| 4a | | Indenture dated April 16, 2001 between and among PSEG Power, PSEG Fossil, PSEG Nuclear, PSEG Energy Resources & Trade and The Bank of New York Mellon and form of Subsidiary Guaranty included therein(28) |
| 4b | | First Supplemental Indenture, supplemental to Exhibit 4a, dated as of March 13, 2002(29) |
| 10a(1) | | Supplemental Executive Retirement Income Plan, effective as of May 31, 2011(7) |
| LIST OF EXHIBITS: | | |
|---|
| | |
| 10a(2) | | Retirement Income Reinstatement Plan for Non-Represented Employees, as amended May 31, 2011(8) |
| 10a(3) | | Employment Agreement with William Levis dated December 8, 2006(9) |
| 10a(4) | | Deferred Compensation Plan for Certain Employees, amended November 1, 2011(12) |
| 10a(5) | | 1989 Long-Term Incentive Plan, as amended(13) |
| 10a(6) | | 2001 Long-Term Incentive Plan(14) |
| 10a(7) | | Senior Management Incentive Compensation Plan(15) |
| 10a(8) | | Key Executive Severance Plan of Public Service Enterprise Group Incorporated, Amended effective February 20, 2017 |
| 10a(9) | | Severance Agreement with Ralph Izzo dated December 16, 2008(16) |
| 10a(10) | | 2004 Long-Term Incentive Plan, amended and restated as of April 16, 2013(19) |
| 10a(11) | | Equity Deferral Plan, effective November 1, 2011, amended December 9, 2011(21) |
| 10a(12) | | Amendment to Employment Agreement with William Levis, dated September 19, 2011(22) |
| 10a(13) | | Agreement with Tamara L. Linde dated June 18, 2014(23) |
| 10a(14) | | Agreement with Daniel J. Cregg dated September 22, 2015(24) |
| 10a(15) | | Clawback Practice, effective December 15, 2015(26) |
| 12a | | Computation of Ratio of Earnings to Fixed Charges |
| 23a | | Consent of Independent Registered Public Accounting Firm |
| 31b | | Certification by Ralph Izzo, pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| 31c | | Certification by Daniel J. Cregg, pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| 32b | | Certification by Ralph Izzo, pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| 32c | | Certification by Daniel J. Cregg, pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| 101.INS | | XBRL Instance Document |
| 101.SCH | | XBRL Taxonomy Extension Schema |
| 101.CAL | | XBRL Taxonomy Calculation Linkbase |
| 101.LAB | | XBRL Taxonomy Extension Labels Linkbase |
| 101.PRE | | XBRL Taxonomy Extension Presentation Linkbase |
| 101.DEF | | XBRL Taxonomy Extension Definition Document |
| c. | | PSE&G |
| 3a(1) | | Restated Certificate of Incorporation of PSE&G(30) |
| 3a(2) | | Certificate of Amendment of Certificate of Restated Certificate of Incorporation of PSE&G filed February 18, 1987 with the State of New Jersey adopting limitations of liability provisions in accordance with an amendment to New Jersey Business Corporation Act(31) |
| 3a(3) | | Certificate of Amendment of Restated Certificate of Incorporation of PSE&G filed June 17, 1992 with the State of New Jersey, establishing the 7.44% Cumulative Preferred Stock ($100 Par) as a series of Preferred Stock(32) |
| 3a(4) | | Certificate of Amendment of Restated Certificate of Incorporation of PSE&G filed March 11, 1993 with the State of New Jersey, establishing the 5.97% Cumulative Preferred Stock ($100 Par) as a series of Preferred Stock(33) |
| 3a(5) | | Certificate of Amendment of Restated Certificate of Incorporation of PSE&G filed January 27, 1994 with the State of New Jersey, establishing the 6.92% Cumulative Preferred Stock ($100 Par) and the 6.75% Cumulative Preferred Stock ($25 Par) as a series of Preferred Stock(34) |
| 3b(1) | | By-Laws of PSE&G as in effect April 17, 2007(35) |
| 4a(1) | | Indenture between PSE&G and Fidelity Union Trust Company (now, Wachovia Bank, National Association), as Trustee, dated August 1, 1924(36), securing First and Refunding Mortgage Bond and Supplemental Indentures between PSE&G and U.S. Bank National Association, successor, as Trustee, supplemental to Exhibit 4a(1), dated as follows: |
| 4a(2) | | June 1, 1937(37) |
| 4a(3) | | July 1, 1937(38) |
| 4a(4) | | March 1, 1942(39) |
| 4a(5) | | June 1, 1991 (No. 1)(40) |
| LIST OF EXHIBITS: | | |
|---|
| | |
| 4a(6) | | July 1, 1993(41) |
| 4a(7) | | August 1, 2004 (No. 4)(42) |
| 4a(8) | | April 1, 2007(43) |
| 4a(9) | | May 1, 2012(44) |
| 4a(10) | | June 1, 2012(45) |
| 4a(11) | | May 1, 2013(46) |
| 4a(12) | | August 1, 2014(47) |
| 4a(13) | | May 1, 2015(48) |
| 4a(14) | | September 1, 2016 |
| 4b | | Indenture of Trust between PSE&G and Chase Manhattan Bank (National Association) (The Bank of New York Mellon, successor), as Trustee, providing for Secured Medium-Term Notes dated July 1, 1993(49) |
| 4c | | Indenture dated as of December 1, 2000 between Public Service Electric and Gas Company and First Union National Bank (U.S. Bank National Association, successor), as Trustee, providing for Senior Debt Securities(50) |
| 10a(1) | | Supplemental Executive Retirement Income Plan, effective as of May 31, 2011(7) |
| 10a(2) | | Retirement Income Reinstatement Plan for Non-Represented Employees as amended May 31, 2011(8) |
| 10a(3) | | Amended and Restated 2007 Equity Compensation Plan for Outside Directors, effective July 19, 2011(10) |
| 10a(4) | | Deferred Compensation Plan for Directors, amended July 19, 2011(11) |
| 10a(5) | | Deferred Compensation Plan for Certain Employees, amended November 1, 2011(12) |
| 10a(6) | | 1989 Long-Term Incentive Plan, as amended(13) |
| 10a(7) | | 2001 Long-Term Incentive Plan(14) |
| 10a(8) | | Senior Management Incentive Compensation Plan(15) |
| 10a(9) | | Key Executive Severance Plan of Public Service Enterprise Group Incorporated, Amended effective February 20, 2017 |
| 10a(10) | | Severance Agreement with Ralph Izzo dated December 16, 2008(16) |
| 10a(11) | | Stock Plan for Outside Directors, as amended(17) |
| 10a(12) | | Compensation Plan for Outside Directors(18) |
| 10a(13) | | 2004 Long-Term Incentive Plan, amended and restated as of April 16, 2013(19) |
| 10a(14) | | Form of Agreement for Advancement of Expenses with Outside Directors(51) |
| 10a(15) | | Equity Deferral Plan, effective November 1, 2011, amended December 9, 2011(21) |
| 10a(16) | | Agreement with Tamara L. Linde dated June 18, 2014(23) |
| 10a(17) | | Agreement with Daniel J. Cregg dated September 22, 2015(24) |
| 10a(18) | | Clawback Practice, effective December 15, 2015(25) |
| 12b | | Computation of Ratios of Earnings to Fixed Charges Plus Preferred Stock Dividend Requirements |
| 23b | | Consent of Independent Registered Public Accounting Firm |
| 31d | | Certification by Ralph Izzo, pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| 31e | | Certification by Daniel J. Cregg, pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| 32d | | Certification by Ralph Izzo, pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| 32e | | Certification by Daniel J. Cregg, pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| 101.INS | | XBRL Instance Document |
| 101.SCH | | XBRL Taxonomy Extension Schema |
| 101.CAL | | XBRL Taxonomy Calculation Linkbase |
| 101.LAB | | XBRL Taxonomy Extension Labels Linkbase |
| 101.PRE | | XBRL Taxonomy Extension Presentation Linkbase |
| 101.DEF | | XBRL Taxonomy Extension Definition Document |
| |
|---|
| (1) | Filed as Exhibit 3.1a with Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, File No. 001-09120, on May 4, 2007 and incorporated herein by this reference. |
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| (2) | Filed as Exhibit 3.1b with Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, File No. 001-09120, on May 4, 2007 and incorporated herein by this reference. |
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| (3) | Filed as Exhibit 3.1c with Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, File No. 001-09120, on May 4, 2007 and incorporated herein by this reference. |
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| (4) | Filed as Exhibit 99.1 with Current Report on Form 8-K, File No. 001-09120, on December 16, 2015 and incorporated herein by this reference. |
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| (5) | Filed as Exhibit 4(f) with Quarterly Report on Form 10-Q for the quarter ended March 31, 1998, File No. 001-09120, on May 13, 1998 and incorporated herein by this reference. |
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| (6) | Filed as Exhibit 4(f) to the Annual Report on Form 10-K for the year ended December 31, 1998, File No. 001-09120, on February 23, 1999 and incorporated herein by this reference |
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| (7) | Filed as Exhibit 10.1 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, File No. 001-09120, on November 1, 2011 and incorporated herein by this reference. |
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| (8) | Filed as Exhibit 10.2 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, File No. 001-09120, on November 1, 2011 and incorporated herein by this reference. |
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| (9) | Filed as Exhibit 10a (4) with Annual Report on Form 10-K for the year ended December 31, 2007, File Nos. 001-09120 on February 28, 2008 and 000-49614, and incorporated herein by reference. |
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| (10) | Filed as Exhibit 10.5 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, File No. 001-09120, on November 1, 2011 and incorporated herein by this reference. |
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| (11) | Filed as Exhibit 10.6 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, File No. 001-09120, on November 1, 2011 and incorporated herein by this reference. |
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| (12) | Filed as Exhibit 10a(7) with Annual Report on Form 10-K for the quarter ended December 31, 2011, File No. 001-09120, on February 27, 2012 and incorporated herein by this reference. |
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| (13) | Filed as Exhibit 10 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2002, File No. 001-09120, on November 4, 2002 and incorporated herein by this reference. |
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| (14) | Filed as Exhibit 10a(7) with Annual Report on Form 10-K for the year ended December 31, 2000, File No. 001-09120, on March 6, 2001 and incorporated herein by this reference. |
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| (15) | Filed as Exhibit 10a(11) with Annual Report on Form 10-K for the year ended December 31, 2008, File No. 001-09120, on February 26, 2009 and incorporated herein by this reference. |
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| (16) | Filed as Exhibit 99 with Current Report on Form 8-K, File Nos. 001-09120, 000-49614 and 001-00973, on December 22, 2008 and incorporated herein by this reference. |
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| (17) | Filed as Exhibit 10a(17) with Annual Report on Form 10-K for the year ended December 31, 2002, File No. 001-09120, on February 26, 2003 and incorporated herein by this reference. |
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| (18) | Filed as Exhibit 10a(20) with Annual Report on Form 10-K for the year ended December 31, 2002, File No. 001-09120, on February 26, 2003 and incorporated herein by this reference. |
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| (19) | Filed as Exhibit 10 with Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, File No. 001-09120, on May 1, 2013 and incorporated herein by reference. |
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| (20) | Filed as Exhibit 10.1 with Current Report on Form 8-K, File No. 001-09120, on February 19, 2009 and incorporated herein by this reference. |
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| (21) | Filed as Exhibit 10a(19) with Annual Report on Form 10-K for the year ended December 31, 2011, File No. 001-09120, on February 27, 2012. |
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| (22) | Filed as Exhibit 10 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, File No. 001-09120, on November 1, 2011 and incorporated herein by reference. |
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| (23) | Filed as Exhibit 10a with Annual Report on Form 10-K for the year ended December 31, 2014, File No. 001-09120, on February 26, 2015. |
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| (24) | Filed as Exhibit 10 with Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, File No. 001-09120, on October 30, 2015. |
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| (25) | Filed as Exhibit 10a(20) with Annual Report on Form 10-K for the year ended December 31, 2015, File No. 001-09120, on February 26, 2016 and incorporated herein by this reference. |
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| (26) | Filed as Exhibit 3.1 to Registration Statement on Form S-4, No. 333-69228, filed on September 10, 2001 and incorporated herein by this reference. |
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| (27) | Filed as Exhibit 3.2 to Registration Statement on Form S-4, No. 333-69228, filed on September 10, 2001 and incorporated herein by this reference. |
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| (28) | Filed as Exhibit 4.1 to Registration Statement on Form S-4, No. 333-69228, filed on September 10, 2001 and incorporated herein by this reference. |
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| (29) | Filed as Exhibit 4.7 with Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, File No. 000-49614, on May 15, 2002 and incorporated herein by this reference. |
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| (30) | Filed as Exhibit 3(a) with Quarterly Report on Form 10-Q for the quarter ended June 30, 1986, File No. 001-00973, on August 28, 1986 and incorporated herein by this reference. |
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| (31) | Filed as Exhibit 3a(2) with Annual Report on Form 10-K for the year ended December 31, 1987, File No. 001-00973, on March 28, 1988 and incorporated herein by this reference. |
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| (32) | Filed as Exhibit 3a(3) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference. |
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| (33) | Filed as Exhibit 3a(4) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference. |
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| (34) | Filed as Exhibit 3a(5) on Form 8-A, File No. 001-00973, on February 4, 1994 and incorporated herein by this reference. |
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| (35) | Filed as Exhibit 3.3 with Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, File No. 001-00973, on May 4, 2007 and incorporated herein by this reference. |
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| (36) | Filed as Exhibit 4b(1) with Annual Report on Form 10-K for the year ended December 31, 1980, File No. 001-00973, on February 18, 1981 and incorporated herein by this reference. |
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| (37) | Filed as Exhibit 4b(3) with Annual Report on Form 10-K for the year ended December 31, 1980, File No. 001-00973, on February 18, 1981 and incorporated herein by this reference. |
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| (38) | Filed as Exhibit 4b(4) with Annual Report on Form 10-K for the year ended December 31, 1980, File No. 001-00973, on February 18, 1981 and incorporated herein by this reference. |
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| (39) | Filed as Exhibit 4b(6) with Annual Report on Form 10-K for the year ended December 31, 1980, File No. 001-00973, on February 18, 1981 and incorporated herein by this reference. |
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| (40) | Filed as Exhibit 4 on Form 8-A, File No. 001-00973, on June 1, 1991 and incorporated herein by this reference. |
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| (41) | Filed as Exhibit 4(i) on Form 8-A, File No. 001-00973, on December 1, 1993 and incorporated herein by this reference. |
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| (42) | Filed as Exhibit 4a(28) with Annual Report on Form 10-K for the year ended December 31, 2004, File No. 001-00973, on March 1, 2005 and incorporated herein by this reference. |
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| (43) | Filed as Exhibit 4a(28) with Annual Report on Form 10-K for the year ended December 31, 2007, File No. 001-00973, on February 28, 2008 and incorporated herein by this reference. |
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| (44) | Filed as Exhibit 4a(32) with Annual Report on Form 10-K for the year ended December 31, 2012, File No. 001-00973, on February 26, 2013. |
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| (45) | Filed as Exhibit 4a(33) with Annual Report on Form 10-K for the year ended December 31, 2012, File No. 001-00973, on February 26, 2013. |
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| (46) | Filed as Exhibit 4 with Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, File No. 001-00973, on July 30, 2013. |
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| (47) | Filed as Exhibit 4a(22) with Quarterly Report on Form 10-Q for the quarter ended September 30, 2014, File No. 001-09120, on October 30, 2014 and incorporated herein by reference. |
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| (48) | Filed as Exhibit 4a(23) with Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, File No. 001-09120, on July 31, 2015 and incorporated herein by reference. |
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| (49) | Filed as Exhibit 4 with Current Report on Form 8-K, File No. 001-00973, on December 1, 1993 and incorporated herein by reference. |
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| (50) | Filed as Exhibit 4.6 to Registration Statement on Form S-3, File No. 333-76020, filed on December 27, 2001 and incorporated herein by reference. |
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| (51) | Filed as Exhibit 10.2 with Current Report on Form 8-K, File No. 001-00973, on February 19, 2009 and incorporated herein by reference. |
Schedule II—Valuation and Qualifying Accounts Years Ended December 31, 2016—December 31, 2014
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED
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| | | | | | | | | | | | | | | | | | | | | | | | |
| Column A | | Column B | | | | Column C Additions | | | | | | | | Column D | | | | | | Column E | | | |
| Description | | Balance at Beginning of Period | | | | Charged to cost and expenses | | | | Charged to other accounts- describe | | | | Deductions- describe | | | | | | Balance at End of Period | | | |
| | | Millions | | | | | | | | | | | | | | | | | | | | | |
| 2016 | | | | | | | | | | | | | | | | | | | | | | | |
| Allowance for Doubtful Accounts | | $ | 67 | | | $ | 85 | | | $ | — | | | $ | 84 | | | (A) | | $ | 68 | | |
| Materials and Supplies Valuation Reserve | | 11 | | | | 32 | | | | — | | | | 6 | | | | (B) | | 37 | | | |
| 2015 | | | | | | | | | | | | | | | | | | | | | | | |
| Allowance for Doubtful Accounts | | $ | 52 | | | $ | 101 | | | $ | — | | | $ | 86 | | | (A) | | $ | 67 | | |
| Materials and Supplies Valuation Reserve | | 15 | | | | 2 | | | | — | | | | 6 | | | | (B) | | 11 | | | |
| 2014 | | | | | | | | | | | | | | | | | | | | | | | |
| Allowance for Doubtful Accounts | | $ | 56 | | | $ | 86 | | | $ | — | | | $ | 90 | | | (A) | | $ | 52 | | |
| Materials and Supplies Valuation Reserve | | 8 | | | | 9 | | | | — | | | | 2 | | | | (B) | | 15 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
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| (A) | Accounts Receivable written off. |
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| (B) | Reduced reserve to appropriate level and to remove obsolete inventory. |
PUBLIC SERVICE ELECTRIC AND GAS COMPANY
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| | | | | | | | | | | | | | | | | | | | | | | | |
| Column A | | Column B | | | | Column C Additions | | | | | | | | Column D | | | | | | Column E | | | |
| Description | | Balance at Beginning of Period | | | | Charged to cost and expenses | | | | Charged to other accounts- describe | | | | Deductions- describe | | | | | | Balance at End of Period | | | |
| | | Millions | | | | | | | | | | | | | | | | | | | | | |
| 2016 | | | | | | | | | | | | | | | | | | | | | | | |
| Allowance for Doubtful Accounts | | $ | 67 | | | $ | 85 | | | $ | — | | | $ | 84 | | | (A) | | $ | 68 | | |
| Materials and Supplies Valuation Reserve | | 1 | | | | — | | | | — | | | | 1 | | | | (B) | | — | | | |
| 2015 | | | | | | | | | | | | | | | | | | | | | | | |
| Allowance for Doubtful Accounts | | $ | 52 | | | $ | 101 | | | $ | — | | | $ | 86 | | | (A) | | $ | 67 | | |
| Materials and Supplies Valuation Reserve | | 2 | | | | — | | | | — | | | | 1 | | | | (B) | | 1 | | | |
| 2014 | | | | | | | | | | | | | | | | | | | | | | | |
| Allowance for Doubtful Accounts | | $ | 56 | | | $ | 86 | | | $ | — | | | $ | 90 | | | (A) | | $ | 52 | | |
| Materials and Supplies Valuation Reserve | | — | | | | 2 | | | | — | | | | — | | | | | | 2 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| |
|---|
| (A) | Accounts Receivable written off. |
| |
|---|
| (B) | Reduced reserve to appropriate level and to remove obsolete inventory. |
PSEG POWER LLC
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| Column A | | Column B | | | | Column C Additions | | | | | | | | Column D | | | | | | Column E | | | |
| Description | | Balance at Beginning of Period | | | | Charged to cost and expenses | | | | Charged to other accounts- describe | | | | Deductions- describe | | | | | | Balance at End of Period | | | |
| | | | | | | | | | | Millions | | | | | | | | | | | | | |
| 2016 | | | | | | | | | | | | | | | | | | | | | | | |
| Materials and Supplies Valuation Reserve | | $ | 10 | | | $ | 32 | | | $ | — | | | $ | 5 | | | (A) | | $ | 37 | | |
| 2015 | | | | | | | | | | | | | | | | | | | | | | | |
| Materials and Supplies Valuation Reserve | | $ | 13 | | | $ | 2 | | | $ | — | | | $ | 5 | | | (A) | | $ | 10 | | |
| 2014 | | | | | | | | | | | | | | | | | | | | | | | |
| Materials and Supplies Valuation Reserve | | $ | 8 | | | $ | 7 | | | $ | — | | | $ | 2 | | | (A) | | $ | 13 | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| |
|---|
| (A) | Reduced reserve to appropriate level and to remove obsolete inventory. |
GLOSSARY OF TERMS
When the following terms and abbreviations appear in the text of this report, they have the meanings indicated below:
| Term Phrase/Description | | |
|---|
| | |
| Base load | | Minimum amount of electric power delivered or required over a given period of time at a constant rate, this is the level of demand that is seen as a minimum during a 24-hour day |
| BGS | | Basic Generation Service |
| | PSE&G is required to provide BGS for all customers in New Jersey who are not supplied by a third-party supplier. |
| BGS-RSCP | | Basic Generation Service-Residential Small Commercial Product |
| | Seasonally adjusted fixed prices charged for a three-year term for electric supply service to smaller industrial and commercial customers and residential customers who are not supplied by a TPS |
| BGSS | | Basic Gas Supply Service |
| | Mechanism approved by the BPU for NJ utilities to recover all commodity costs related to supplying gas to residential customers |
| BPU | | New Jersey Board of Public Utilities |
| | Agency responsible for regulating public utilities doing business in New Jersey |
| Capacity | | Amount of electricity that can be produced by a specific generating facility |
| Combined Cycle | | A method of generation whereby electricity and process steam are produced from otherwise lost waste heat exiting from one or more combustion turbines. The exiting heat is routed to a conventional boiler or to a heat recovery steam generator for use by a steam turbine in the production of electricity |
| Congestion | | Condition when the available capacity of a transmission line is being closely approached (or exceeded) by the electric power trying to go through it; at such times, alternative power line pathways (or local generators near the load) must be used instead |
| Distribution | | The delivery of electricity to the retail customer’s home, business or industrial facility through low voltage distribution lines |
| EPA | | U.S. Environmental Protection Agency |
| FASB | | Financial Accounting Standards Board |
| | A private, not-for-profit organization whose primary purpose, as designated by the SEC, is to develop accounting standards for public companies in the U.S. |
| FERC | | U.S. Federal Energy Regulatory Commission |
| Forward contracts | | A customized, non-exchange traded contract in which the buyer is obligated to deliver a specified amount of a commodity with a predetermined price formula on a specified future date, at which time payment is due in full |
| GAAP | | Generally Accepted Accounting Principles |
| | Standard framework of guidelines issued by the FASB for financial accounting used in the U.S. |
| GHG | | Greenhouse gas emissions (including carbon dioxide, methane, nitrous oxide, ozone, and chlorofluorocarbon) that trap the heat of the sun in the Earth’s atmosphere, increasing the mean global surface temperature of the earth |
| Hedging | | Entering into a contract or transaction designed to reduce exposure to various risks, such as changes in market prices |
| ISO | | Independent System Operator |
| | An independent, regulated entity established to manage a regional electric transmission system in a non-discriminatory manner and to help ensure the safety and reliability of the bulk of the power system |
| ITC | | Investment Tax Credit |
| | A credit against income taxes, usually computed as a percent of the cost of investment in certain types of assets |
| Term Phrase/Description | | |
|---|
| | |
| Load | | Amount of electric power delivered or required at any specific point or points on a system. The requirement originates at the energy-consuming equipment of consumers. |
| MBR | | Market Based Rates |
| | Electric service prices determined in an open market system of supply and demand under which the price is set solely by agreement as to what a buyer will pay and a seller will accept |
| MGP | | Manufactured Gas Plant |
| ISO-NE | | New England Power Pool |
| | An ISO comprised of an alliance of approximately 100 utility companies who manage and direct all major energy production and transmission in the New England states |
| NJDEP | | New Jersey Department of Environmental Protection |
| NRC | | U.S. Nuclear Regulatory Commission |
| NUG | | Non-Utility Generation |
| | Power produced by independent power producers, exempt wholesale generators and other companies that have been exempted from traditional utility regulation |
| OPEB | | Other Postretirement Benefits |
| | Benefits other than pensions payable to former employees |
| Outage | | The period during which a generating unit, transmission line, or other facility is out of service due to scheduled (planned) or unscheduled maintenance |
| PJM | | PJM Interconnection, L.L.C. |
| | A regional transmission organization that coordinates the movement of wholesale electricity in all or parts of 13 northeastern states and the District of Columbia |
| Power | | PSEG Power LLC |
| Power Pool | | An association of two or more interconnected electric systems having an agreement to coordinate operations and planning for improved reliability and efficiencies |
| PSE&G | | Public Service Electric and Gas Company |
| PSEG | | Public Service Enterprise Group Incorporated |
| Renewable Energy | | Energy derived from resources that are regenerative or that cannot be depleted (i.e. moving water (hydro, tidal and wave power), thermal gradients in ocean water, biomass, geothermal energy, solar energy, and wind energy) |
| Regulatory Asset | | Costs deferred by a regulated utility company in accordance with Accounting Standard Codification Topic 980: Regulated operations (ASC 980) |
| Regulatory Liability | | Costs recognized by a regulated utility company in accordance with ASC 980 |
| RPM | | Reliability Pricing Model (PJM market) |
| | A process for pricing generation capacity based on overall system reliability requirements; using multi-year forward auctions, participants could bid capacity in the form of generation, demand response, or transmission to meet reliability needs by location and/or an ISO market |
| SBC | | Societal Benefits Charge |
| SEC | | U.S. Securities and Exchange Commission |
| Transmission | | The high-voltage wires and networks that move electricity through states and regions in large quantities - from power plants where it is produced, to the distribution networks that deliver it to homes and businesses |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
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| | | |
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| | | PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED |
| | | |
| | By: | /s/ RALPH IZZO |
| | | Ralph Izzo |
| | | Chairman of the Board, President and |
| | | Chief Executive Officer |
Date: February 27, 2017
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. The signatures of the undersigned shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
| | | | |
|---|
| | | | |
| | | | |
| Signature | | Title | | Date |
| | | | |
| /s/ RALPH IZZO | | Chairman of the Board, President, Chief Executive Officer and | | February 27, 2017 |
| Ralph Izzo | | Director (Principal Executive Officer) | | |
| | | | |
| /s/ DANIEL J. CREGG | | Executive Vice President and Chief Financial Officer | | February 27, 2017 |
| Daniel J. Cregg | | (Principal Financial Officer) | | |
| | | | |
| /s/ STUART J. BLACK | | Vice President and Controller | | February 27, 2017 |
| Stuart J. Black | | (Principal Accounting Officer) | | |
| | | | |
| /s/ WILLIE A. DEESE | | Director | | February 27, 2017 |
| Willie A. Deese | | | | |
| | | | |
| /s/ ALBERT R. GAMPER, JR. | | Director | | February 27, 2017 |
| Albert R. Gamper, Jr. | | | | |
| | | | |
| /s/ WILLIAM V. HICKEY | | Director | | February 27, 2017 |
| William V. Hickey | | | | |
| | | | |
| /s/ SHIRLEY ANN JACKSON | | Director | | February 27, 2017 |
| Shirley Ann Jackson | | | | |
| | | | |
| /s/ DAVID LILLEY | | Director | | February 27, 2017 |
| David Lilley | | | | |
| | | | |
| /s/ THOMAS A. RENYI | | Director | | February 27, 2017 |
| Thomas A. Renyi | | | | |
| | | | |
| /s/ HAK CHEOL SHIN | | Director | | February 27, 2017 |
| Hak Cheol Shin | | | | |
| | | | |
| /s/ RICHARD J. SWIFT | | Director | | February 27, 2017 |
| Richard J. Swift | | | | |
| | | | |
| /s/ SUSAN TOMASKY | | Director | | February 27, 2017 |
| Susan Tomasky | | | | |
| | | | |
| /s/ ALFRED W. ZOLLAR | | Director | | February 27, 2017 |
| Alfred W. Zollar | | | | |
| | | | |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
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| | | PUBLIC SERVICE ELECTRIC AND GAS COMPANY |
| | | |
| | By: | /s/ RALPH LAROSSA |
| | | Ralph LaRossa |
| | | President and Chief Operating Officer |
Date: February 27, 2017
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. The signatures of the undersigned shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
| | | | |
|---|
| | | | |
| | | | |
| Signature | | Title | | Date |
| | | | |
| /s/ RALPH IZZO | | Chairman of the Board and Chief Executive Officer and | | February 27, 2017 |
| Ralph Izzo | | Director (Principal Executive Officer) | | |
| | | | |
| /s/ DANIEL J. CREGG | | Executive Vice President and Chief Financial Officer | | February 27, 2017 |
| Daniel J. Cregg | | (Principal Financial Officer) | | |
| | | | |
| /s/ STUART J. BLACK | | Vice President and Controller | | February 27, 2017 |
| Stuart J. Black | | (Principal Accounting Officer) | | |
| | | | |
| /s/ ALBERT R. GAMPER, JR. | | Director | | February 27, 2017 |
| Albert R. Gamper Jr. | | | | |
| | | | |
| /s/ SHIRLEY ANN JACKSON | | Director | | February 27, 2017 |
| Shirley Ann Jackson | | | | |
| | | | |
| /s/ RICHARD J. SWIFT | | Director | | February 27, 2017 |
| Richard J. Swift | | | | |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
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| | | PSEG POWER LLC |
| | | |
| | By: | /s/ WILLIAM LEVIS |
| | | William Levis |
| | | President and |
| | | Chief Operating Officer |
Date: February 27, 2017
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. The signatures of the undersigned shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
| | | | |
|---|
| | | | |
| | | | |
| Signature | | Title | | Date |
| | | | |
| /s/ RALPH IZZO | | Chairman of the Board and Chief Executive Officer and | | February 27, 2017 |
| Ralph Izzo | | Director (Principal Executive Officer) | | |
| | | | |
| /s/ DANIEL J. CREGG | | Executive Vice President and Chief Financial Officer and | | February 27, 2017 |
| Daniel J. Cregg | | Director (Principal Financial Officer) | | |
| | | | |
| /s/ STUART J. BLACK | | Vice President and Controller | | February 27, 2017 |
| Stuart J. Black | | (Principal Accounting Officer) | | |
| | | | |
| /s/ DEREK M. DIRISIO | | Director | | February 27, 2017 |
| Derek M. DiRisio | | | | |
| | | | |
| /s/ WILLIAM LEVIS | | Director | | February 27, 2017 |
| William Levis | | | | |
| | | | |
| /s/ TAMARA L. LINDE | | Director | | February 27, 2017 |
| Tamara L. Linde | | | | |
| | | | |
| /s/ MARGARET M. PEGO | | Director | | February 27, 2017 |
| Margaret M. Pego | | | | |
EXHIBIT INDEX
The following documents are filed as a part of this report:
| | |
|---|
| | |
| a. PSEG: | | |
| Exhibit 10a(10) | | Key Executive Severance Plan of Public Service Enterprise Group Incorporated, Amended effective February 20, 2017 |
| Exhibit 12: | | Computation of Ratios of Earnings to Fixed Charges |
| Exhibit 21: | | Subsidiaries of the Registrant |
| Exhibit 23: | | Consent of Independent Registered Public Accounting Firm |
| Exhibit 31: | | Certification by Ralph Izzo Pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| Exhibit 31a: | | Certification by Daniel J. Cregg Pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| Exhibit 32: | | Certification by Ralph Izzo Pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| Exhibit 32a: | | Certification by Daniel J. Cregg Pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| Exhibit 101.INS: | | XBRL Instance Document |
| Exhibit 101.SCH: | | XBRL Taxonomy Extension Schema |
| Exhibit 101.CAL: | | XBRL Taxonomy Calculation Linkbase |
| Exhibit 101.LAB: | | XBRL Taxonomy Extension Labels Linkbase |
| Exhibit 101.PRE: | | XBRL Taxonomy Extension Presentation Linkbase |
| Exhibit 101.DEF: | | XBRL Taxonomy Extension Definition Document |
| b. Power: | | |
| Exhibit 10a(8) | | Key Executive Severance Plan of Public Service Enterprise Group Incorporated, Amended effective February 20, 2017 |
| Exhibit 12a: | | Computation of Ratios of Earnings to Fixed Charges |
| Exhibit 23a: | | Consent of Independent Registered Public Accounting Firm |
| Exhibit 31b: | | Certification by Ralph Izzo Pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| Exhibit 31c: | | Certification by Daniel J. Cregg Pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| Exhibit 32b: | | Certification by Ralph Izzo Pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| Exhibit 32c: | | Certification by Daniel J. Cregg Pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| Exhibit 101.INS: | | XBRL Instance Document |
| Exhibit 101.SCH: | | XBRL Taxonomy Extension Schema |
| Exhibit 101.CAL: | | XBRL Taxonomy Calculation Linkbase |
| Exhibit 101.LAB: | | XBRL Taxonomy Extension Labels Linkbase |
| Exhibit 101.PRE: | | XBRL Taxonomy Extension Presentation Linkbase |
| Exhibit 101.DEF: | | XBRL Taxonomy Extension Definition Document |
| c. PSE&G: | | |
| Exhibit 4a(14) | | Supplemental Indenture dated September 1, 2016 |
| Exhibit 10(a)9 | | Key Executive Severance Plan of Public Service Enterprise Group Incorporated, Amended effective February 20, 2017 |
| Exhibit 12b: | | Computation of Ratios of Earnings to Fixed Charges Plus Preferred Stock Dividend Requirements |
| Exhibit 23b: | | Consent of Independent Registered Public Accounting Firm |
| Exhibit 31d: | | Certification by Ralph Izzo Pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| Exhibit 31e: | | Certification by Daniel J. Cregg Pursuant to Rules 13a-14 and 15d-14 of the 1934 Act |
| Exhibit 32d: | | Certification by Ralph Izzo Pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| Exhibit 32e: | | Certification by Daniel J. Cregg Pursuant to Section 1350 of Chapter 63 of Title 18 of the U.S. Code |
| Exhibit 101.INS: | | XBRL Instance Document |
| Exhibit 101.SCH: | | XBRL Taxonomy Extension Schema |
| Exhibit 101.CAL: | | XBRL Taxonomy Calculation Linkbase |
| Exhibit 101.LAB: | | XBRL Taxonomy Extension Labels Linkbase |
| Exhibit 101.PRE: | | XBRL Taxonomy Extension Presentation Linkbase |
| Exhibit 101.DEF: | | XBRL Taxonomy Extension Definition Document |
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