Rate Filings

3 Months Ended

Mar. 31, 2019

Regulatory Assets [Line Items]

Rate Filings

Rate Filings

This Note should be read in conjunction with Note 7. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2018.

In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with the BPU by PSE&G are as follows:

BGSS—In March 2019, the BPU approved the final BGSS rates which were effective October 1, 2018.

Weather Normalization Clause (WNC)—In March 2019, the BPU gave final approval to PSE&G’s 2017-2018 WNC petition allowing a net recovery of $14 million to be collected over the 2018-2019 Winter Period with the new rate effective November 1, 2018. The $14 million net recovery is the result of $9 million of excess revenues from the colder than normal 2017-2018 Winter Period offset by $23 million of remaining prior Winter Period undercollection.

Gas System Modernization Program I (GSMP I)—In April 2019, PSE&G filed its final GSMP I cost recovery petition seeking BPU approval to recover in gas base rates an estimated annual revenue increase of $12 million effective October 1, 2019. This increase represents the return on and of GSMP I investments expected to be in service through June 30, 2019. This request will be updated in July 2019 for actual costs.

PSE And G [Member]

Regulatory Assets [Line Items]

Rate Filings

Rate Filings

This Note should be read in conjunction with Note 7. Regulatory Assets and Liabilities to the Consolidated Financial Statements in the Annual Report on Form 10-K for the year ended December 31, 2018.

In addition to items previously reported in the Annual Report on Form 10-K, significant regulatory orders received and currently pending rate filings with the BPU by PSE&G are as follows:

BGSS—In March 2019, the BPU approved the final BGSS rates which were effective October 1, 2018.

Weather Normalization Clause (WNC)—In March 2019, the BPU gave final approval to PSE&G’s 2017-2018 WNC petition allowing a net recovery of $14 million to be collected over the 2018-2019 Winter Period with the new rate effective November 1, 2018. The $14 million net recovery is the result of $9 million of excess revenues from the colder than normal 2017-2018 Winter Period offset by $23 million of remaining prior Winter Period undercollection.

Gas System Modernization Program I (GSMP I)—In April 2019, PSE&G filed its final GSMP I cost recovery petition seeking BPU approval to recover in gas base rates an estimated annual revenue increase of $12 million effective October 1, 2019. This increase represents the return on and of GSMP I investments expected to be in service through June 30, 2019. This request will be updated in July 2019 for actual costs.