Public Service Enterprise Group Nuclear Decommissioning Trust

The trust is mandated by the Nuclear Regulatory Commission and state utility regulators to pre-fund the eventual shutdown, dismantlement, and site restoration of PSEG's nuclear generating stations. Its purpose is to ensure that the substantial costs of decommissioning are paid by current ratepayers rather than deferred to future generations. PSEG Power LLC acts as the sponsor, collecting contributions through utility rates and directing them into the trust, which is overseen by PSEG's senior leadership team.

No. PSEG does not publicly itemize the trust's specific holdings or exact manager roster. Investment disclosures appear in aggregate within PSEG's annual financial statements, which confirm funding status relative to decommissioning liability estimates. Regulatory filings with the Nuclear Regulatory Commission and New Jersey Board of Public Utilities provide periodic funding adequacy assessments but not granular portfolio composition.

While the trust holds real estate and private credit alongside fixed income and public equities, its mandate is tied to decommissioning existing nuclear facilities rather than building new energy assets. Any alternative investment exposure is incidental to the liability-matching mission, not a proactive energy-transition strategy. PSEG's broader corporate and foundation activities engage in sustainability efforts separately from the trust.

The PSEG Foundation is a separate philanthropic entity entirely walled off from the decommissioning trust. Foundation assets fund community and charitable programs and cannot be tapped to cover nuclear decommissioning obligations. This structural separation ensures that ratepayer-contributed funds remain ring-fenced for their regulatory purpose.