Changes in Capitalization

6 Months Ended

Jun. 30, 2015

The following capital transactions occurred in the six months ended June 30, 2015:

PSE&G


•	issued $350 million of 3.00% Secured Medium-Term Notes, Series K due May 2025,


•	issued $250 million of 4.05% Secured Medium-Term Notes, Series K due May 2045,


•	paid $300 million of 2.70% Secured Medium-Term Notes at maturity,


•	paid $117 million of Transition Funding's securitization debt, and


•	paid the final $8 million of Transition Funding II's securitization debt.

Power


•	paid cash dividends of $400 million to PSEG.

The following capital transactions occurred in the six months ended June 30, 2015:

PSE&G


•	issued $350 million of 3.00% Secured Medium-Term Notes, Series K due May 2025,


•	issued $250 million of 4.05% Secured Medium-Term Notes, Series K due May 2045,


•	paid $300 million of 2.70% Secured Medium-Term Notes at maturity,


•	paid $117 million of Transition Funding's securitization debt, and


•	paid the final $8 million of Transition Funding II's securitization debt.

Power


•	paid cash dividends of $400 million to PSEG.

The following capital transactions occurred in the six months ended June 30, 2015:

PSE&G


•	issued $350 million of 3.00% Secured Medium-Term Notes, Series K due May 2025,


•	issued $250 million of 4.05% Secured Medium-Term Notes, Series K due May 2045,


•	paid $300 million of 2.70% Secured Medium-Term Notes at maturity,


•	paid $117 million of Transition Funding's securitization debt, and


•	paid the final $8 million of Transition Funding II's securitization debt.

Power


•	paid cash dividends of $400 million to PSEG.