Item 1A. RISK FACTORS

The discussion of our business and operations in this Quarterly Report on Form 10-Q should be read together with the risk factors contained in Part I, Item 1A of our Form 10-K which describes various risks and uncertainties that could have a material adverse impact on our business, prospects, financial position, results of operations or cash flows and could cause results to differ materially from those expressed elsewhere in this report.

The following is an addition to the Risk Factor that appeared in our 2022 Form 10-K entitled “We are subject to numerous federal, state and local environmental laws and regulations that may significantly limit or affect our businesses, adversely impact our business plans or expose us to significant environmental fines and liabilities.”

The Environmental Protection Agency and certain other regulators are investigating the potential public health risks associated with lead-covered cables in the fixed-line telecommunications industry. In the electric utility industry, lead-covered electric cables have historically been used to protect conducting wires from exposure to the elements. PSE&G’s electric utility system has a small percentage of lead-covered cables. The vast majority is within a vault and conduit system not directly exposed to the public or the ground and some are directly buried or strung in the air between poles. PSE&G is unable to predict the impact on it, if any, resulting from potential developments to legal or public policy doctrines regarding lead-covered cables.