Changes in Capitalization

The following capital transactions occurred in the first nine months of 2012:

Power


•	paid $66 million of 5.00% Pollution Control Revenue Refunding bond at maturity, and


•	paid cash dividends of $600 million to PSEG.

PSE&G


•	paid $300 million of 5.13% Secured Medium-Term Notes at maturity,


•	issued $350 million of 3.65% Secured Medium-Term Notes, Series H due September 2042,

•

refinanced at par $50 million of 5.45% fixed rate Pollution Control Financing Authority of Salem County Authority Bonds due February 1, 2032, which were serviced and secured by PSE&G’s First and Refunding Mortgage Bonds of like tenor, with $50 million of weekly-reset variable rate demand bonds due April 1, 2046, which are serviced and secured by PSE&G’s First and Refunding Mortgage Bonds of like tenor,


•	redeemed and retired at par $23 million of 5.20% fixed rate Pollution Control Financing Authority of Salem County Authority Bonds due March 1, 2025, which were serviced and secured by PSE&G’s First and Refunding Mortgage Bonds of like tenor,


•	issued $450 million of 3.95% Secured Medium-Term Notes, Series H due May 2042,


•	paid $149 million of Transition Funding’s securitization debt, and


•	paid $5 million of Transition Funding II’s securitization debt.

Energy Holdings


•	was released from $50 million of nonrecourse project debt related to the Dynegy Leases.

Changes in Capitalization

The following capital transactions occurred in the first nine months of 2012:

Power


•	paid $66 million of 5.00% Pollution Control Revenue Refunding bond at maturity, and


•	paid cash dividends of $600 million to PSEG.

PSE&G


•	paid $300 million of 5.13% Secured Medium-Term Notes at maturity,


•	issued $350 million of 3.65% Secured Medium-Term Notes, Series H due September 2042,

•

refinanced at par $50 million of 5.45% fixed rate Pollution Control Financing Authority of Salem County Authority Bonds due February 1, 2032, which were serviced and secured by PSE&G’s First and Refunding Mortgage Bonds of like tenor, with $50 million of weekly-reset variable rate demand bonds due April 1, 2046, which are serviced and secured by PSE&G’s First and Refunding Mortgage Bonds of like tenor,


•	redeemed and retired at par $23 million of 5.20% fixed rate Pollution Control Financing Authority of Salem County Authority Bonds due March 1, 2025, which were serviced and secured by PSE&G’s First and Refunding Mortgage Bonds of like tenor,


•	issued $450 million of 3.95% Secured Medium-Term Notes, Series H due May 2042,


•	paid $149 million of Transition Funding’s securitization debt, and


•	paid $5 million of Transition Funding II’s securitization debt.

Energy Holdings


•	was released from $50 million of nonrecourse project debt related to the Dynegy Leases.

Changes in Capitalization

The following capital transactions occurred in the first nine months of 2012:

Power


•	paid $66 million of 5.00% Pollution Control Revenue Refunding bond at maturity, and


•	paid cash dividends of $600 million to PSEG.

PSE&G


•	paid $300 million of 5.13% Secured Medium-Term Notes at maturity,


•	issued $350 million of 3.65% Secured Medium-Term Notes, Series H due September 2042,

•

refinanced at par $50 million of 5.45% fixed rate Pollution Control Financing Authority of Salem County Authority Bonds due February 1, 2032, which were serviced and secured by PSE&G’s First and Refunding Mortgage Bonds of like tenor, with $50 million of weekly-reset variable rate demand bonds due April 1, 2046, which are serviced and secured by PSE&G’s First and Refunding Mortgage Bonds of like tenor,


•	redeemed and retired at par $23 million of 5.20% fixed rate Pollution Control Financing Authority of Salem County Authority Bonds due March 1, 2025, which were serviced and secured by PSE&G’s First and Refunding Mortgage Bonds of like tenor,


•	issued $450 million of 3.95% Secured Medium-Term Notes, Series H due May 2042,


•	paid $149 million of Transition Funding’s securitization debt, and


•	paid $5 million of Transition Funding II’s securitization debt.

Energy Holdings


•	was released from $50 million of nonrecourse project debt related to the Dynegy Leases.