PSEG reaffirms 2023 guidance, retains nuclear fleet, exits offshore wind via sale to Ørsted

PUBLIC SERVICE ENTERPRISE GROUP INC

Reaffirms 2023 non-GAAP Operating EPS guidance $3.40-$3.50; 5%-7% long-term growth rate 2023-2027.
Decision to retain 3,766 MW nuclear fleet due to Inflation Reduction Act production tax credit.
Plans to sell 25% interest in Ocean Wind 1 to Ørsted; expected closing first-half 2023.
PSE&G 2023-2027 capital plan $15.5B-$18B; rate base CAGR 6%-7.5%.
No new equity to fund capex through 2027.

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