Each company should be in control to assure succes. We serve midsized enterprises to install control. With our parttime effort you achieve a permanent control. We navigate you r business to succes.
웹 사이트 벤치마킹은 웹 기획의 기본스킬입니다. 그리고 웹 사이트 벤치마킹은 웹 기획자에게 웹 사이트의 트렌드를 읽을수 있는 눈을 키워줄 뿐만아니라 경쟁 사이트 혹은 유명 사이트의 벤치마킹을 통하여 웹의 문제점과 개선방안에 실질적인 도움을 받을 수 있습니다.
웹 사이트 벤치마킹은 웹의 콘셉이나 우수한 서비스를 발견하는 것이 전부가 아니라 사용자의 사고, 사이트 이용패턴, 이용경험까지 벤치마킹해야합니다
Each company should be in control to assure succes. We serve midsized enterprises to install control. With our parttime effort you achieve a permanent control. We navigate you r business to succes.
웹 사이트 벤치마킹은 웹 기획의 기본스킬입니다. 그리고 웹 사이트 벤치마킹은 웹 기획자에게 웹 사이트의 트렌드를 읽을수 있는 눈을 키워줄 뿐만아니라 경쟁 사이트 혹은 유명 사이트의 벤치마킹을 통하여 웹의 문제점과 개선방안에 실질적인 도움을 받을 수 있습니다.
웹 사이트 벤치마킹은 웹의 콘셉이나 우수한 서비스를 발견하는 것이 전부가 아니라 사용자의 사고, 사이트 이용패턴, 이용경험까지 벤치마킹해야합니다
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
2. Forward-Looking Statement
Readers are cautioned that statements contained in this presentation about our and our subsidiaries' future performance, including future
revenues, earnings, strategies, prospects and all other statements that are not purely historical, are forward-looking statements for purposes of
the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Although we believe that our expectations are based on
reasonable assumptions, we can give no assurance they will be achieved. The results or events predicted in these statements may differ
materially from actual results or events. Factors which could cause results or events to differ from current expectations include, but are not
limited to:
• Adverse Changes in energy industry, policies and regulation, including market rules that may adversely affect our operating results.
• Any inability of our energy transmission and distribution businesses to obtain adequate and timely rate relief and/or regulatory approvals from
federal and/or state regulators.
• Changes in federal and/or state environmental regulations that could increase our costs or limit operations of our generating units.
• Changes in nuclear regulation and/or developments in the nuclear power industry generally, that could limit operations of our nuclear
generating units.
• Actions or activities at one of our nuclear units that might adversely affect our ability to continue to operate that unit or other units at the same
site.
• Any inability to balance our energy obligations, available supply and trading risks.
• Any deterioration in our credit quality.
• Any inability to realize anticipated tax benefits or retain tax credits.
• Increases in the cost of or interruption in the supply of fuel and other commodities necessary to the operation of our generating units.
• Delays or cost escalations in our construction and development activities.
• Adverse capital market performance of our decommissioning and defined benefit plan trust funds.
• Changes in technology and/or increased customer conservation.
For further information, please refer to our Annual Report on Form 10-K, including Item 1A. Risk Factors, and subsequent reports on Form 10-
Q and Form 8-K filed with the Securities and Exchange Commission. These documents address in further detail our business, industry issues
and other factors that could cause actual results to differ materially from those indicated in this presentation. In addition, any forward-looking
statements included herein represent our estimates only as of today and should not be relied upon as representing our estimates as of any
subsequent date. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so,
even if our estimates change, unless otherwise required by applicable securities laws.
2
3. GAAP Disclaimer
PSEG presents Operating Earnings in addition to its Net Income reported
in accordance with accounting principles generally accepted in the United
States (GAAP). Operating Earnings is a non-GAAP financial measure that
differs from Net Income because it excludes the impact of the sale of
certain non-core domestic and international assets and costs stemming
from the terminated merger agreement with Exelon Corporation. PSEG
presents Operating Earnings because management believes that it is
appropriate for investors to consider results excluding these items in
addition to the results reported in accordance with GAAP. PSEG believes
that the non-GAAP financial measure of Operating Earnings provides a
consistent and comparable measure of performance of its businesses to
help shareholders understand performance trends. This information is
not intended to be viewed as an alternative to GAAP information. The last
slide in this presentation includes a list of items excluded from Net Income
to reconcile to Operating Earnings, with a reference to that slide included
on each of the slides where the non-GAAP information appears. These
slides are intended to be reviewed in conjunction with the oral
presentation to which they relate.
3
4. PSEG Overview
Tom O’Flynn
Executive Vice President and Chief Financial Officer – PSEG
President and Chief Operating Officer – PSEG Energy Holdings
5. Our platform …
Stable electric and gas Redeployment of capital
Major electric generation
distribution and through the sale of
company with 13,300
transmission company international assets.
MW of base-load,
rated top quartile for Focused on managing
intermediate and load
reliability providing lease portfolio and
following capability
service in mature potential investment in
operating in attractive
service territory in New renewables.
markets in the Northeast
Jersey.
with operating control of
additional 2,000 MW of
capacity in Texas.
2007 Operating
$949M* $376M* $115M*
Earnings:
2008 Guidance: $1,040M - $1,140M $350M – $370M $45M – $60M
… provides earnings stability and multiple sources of revenue for
growth. 5
* See page 24 for Items excluded from Net Income to reconcile to Operating Earnings
6. Our focus is to maximize benefits from existing assets …
Operational Regulatory and Growth with
Excellence Market Environment Manageable Risk
Maintain strong
Regulatory
Processes embedded balance sheet
mechanisms in place
throughout the providing
supporting best-in-
organization on how opportunity to
class reliability
to manage, operate deploy capital to
enhanced by market
and invest with meet shareholder
dynamics
excellence as the objectives for
encouraging
goal growth with
investment
reasonable risk
… and build a substantial platform for ongoing growth.
6
7. Major influences on business environment remain:
Infrastructure
Climate Change Capacity Needs
Requirements
• Capital investment in
coal fleet to meet
• PSEG Power’s base- • Significant new
environmental
load nuclear assets transmission capital
requirements
well situated in carbon program to improve
maintains critical
constrained reliability
infrastructure and
environment
expands capability
• PSE&G pursuing
• New peaking capacity
investments in energy
leverages existing
efficiency and
brownfield sites;
renewables
potential for new
nuclear
PSEG assets are well positioned to meet the needs of customers
and shareholders in a challenging environment. 7
8. We are continuing to improve operational practices and participate
in market design discussions …
Fossil fleet adopted operating model based on
Operational Nuclear’s success
Excellence Goal is to maintain (at a minimum) operating
capability of nuclear fleet at 90% capacity factor
PSE&G pursuing pilot programs in advanced metering
and back office technology
NJ enacted Regional Greenhouse Gas Initiative
Regulatory and (RGGI)
Market Environment Draft NJ Energy Master Plan released
PSEG Power exposed to heat rate expansion, gas
prices and carbon
Bid for new peaking capacity not accepted
Growth with Pursuing RFPs in CT
Manageable Risk Awaiting RTEP decision on additional transmission
PSE&G pursuing pilot programs to test energy
efficiency and conservation
Hope Creek uprate and Salem steam generator adding
140MW
… to support long-term growth and reliability. 8
9. Power’s open EBITDA is approximately $2.6 - $2.8 billion …
$3.0
EBITDA
Assumption Sensitivity
Impact
$2.5
Capacity ~ $60 - $65/KW-yr
$10/KW-yr ~ $120M
(~ $165 - $178/MW-day)
~ $69 - 73/MWh
Energy ~ $40M
$1/MWh
(PJM-West)
$2.0
Fuel Gas ~$8.50 to $9.00/MB
$ Billions
Coal ~ $2.85 to $3.15/MB
O&M ~ $1.0 – 1.05B
$1.5
2008 Forecasted EBITDA $2.05B - $2.25B
$1.0
… which will vary depending upon market drivers.
9
* Open EBITDA reflects unhedged results of Power at market prices shown above
10. PSE&G’s base investment plan …
• Regulated electric transmission, electric and gas distribution system
• Characteristics
• FERC regulation for electric transmission (formula rates)
• NJ BPU regulation for electric and gas distribution
• Managing recovery lag on electric and gas distribution investments
PSE&G Rate Base
2012 Base Plan
2007 Actual
Rate Base = $10.2 B
Rate Base = $6.4 B Gas
Distribution
Gas 30%
Electric
Distribution
Transmission Electric
35%
13%
Transmission
22%
Electric
Distribution
52%
Electric
Distribution
Equity Ratio ~ 48% 48%
… coupled with fair regulatory treatment provides a solid
foundation for future earnings growth from 2008 – 2012 of 7 - 8%.
10
11. Improved processes, markets and well-positioned assets …
+ 8 - 9%
+ 8 - 9%
$3.05 - $3.35
$2.80 - $3.05
$2.71
$1.73
2008 2009
2006 Operating 2007 Operating 2010E 2011E
Guidance Guidance
Earnings* Earnings*
… should continue to drive annual earnings guidance growth
of 8 - 9%. 11
* See page 24 for Items excluded from Net Income to reconcile to Operating Earnings
12. Our recent 10% dividend increase continues 100-year
history of paying common dividends.
$1.50
Dividend per Share
?
$1.29 *
%
10
$1.25 +
$1.17
$1.14
$1.12
$1.00
2005 2006 2007 2008 2009E
Payout
63% 66% 43% 44% 40 – 50%
Ratio
Payout objective of 40 – 50% provides opportunity for growth with
earnings. 12
* Indicated annual dividend rate
13. At PSEG, we forecast $3.0B of discretionary cash through
2011.
Parent Sources and Uses
(2008 – 2011 Forecast)
$6.0 Holdings
Dividend
PSE&G
Discretionary
Dividend $3.0B Cash*
$4.0
$ Billions
Power
Dividend
$2.0
Shareholder
Dividend
$0.0
Sources Uses
Cash flow from Power is the primary driver of discretionary cash.
*Forecast includes some use of cash to meet potential IRS tax liability.
13
14. Cash flow projection
During Q1 2008, cash from operations improved by approximately
$100 million over the same period last year. Excluding changes in
working capital, cash from operations is approximately $140 million
higher than the first quarter of 2007.
PSEG expects that it could have up to $3 billion of cash available
through the end of 2011 to pursue disciplined growth of its
businesses or to repurchase common stock.
Our forecast of cash available over 2008-2011 assumed some
financing costs associated with meeting potential tax claims related
to Holdings’ leveraged lease investments.
Our ultimate liability could exceed our forecast and may be met
sooner than anticipated. However, management believes that the
impact of any financing activity would have a manageable impact
on its key credit metrics.
14
16. Fitting the pieces together - PSEG value proposition
PSEG well positioned in current business environment
Process improvement programs support efforts to:
- maintain reliability
- control costs
- provide value to the customer
Asset mix provides opportunities in attractive markets
Strengthened balance sheet supports capital investment
Return of cash to shareholders through dividends
provides discipline to investment process
Earnings growth and yield offer opportunity for double
digit shareholder returns of 10 – 13%
16
19. Right set of assets, right markets at the right time …
Fuel Diversity – 2007
• Low-cost portfolio
Total MW: 13,300
• Strong cash generator Oil Nuclear
8%
• Regional focus in competitive, 26 %
Pumped
liquid markets Storage
1%
18%
47 %
• Assets favorably located
Coal
Gas
– Many units east of PJM constraints
– Southern NEPOOL/ Connecticut
Energy Produced - 2007
– Near customers/load centers
Total GWh: 53,200
• 80% of Fossil capacity has dual
Nuclear
fuel capabilities
54% Pumped
• Integrated generation and portfolio Storage
1%
19%
management optimizes asset- Gas
25%
based revenues Oil 1%
Coal
… we continue to like the assets we have and their location.
19
20. CO2 Emissions (lbs/MWh)
0
500
1,000
1,500
2,000
2,500
3,000
Big Rivers Electric Corp
NiSource Inc
restrictions.
Vectren Corporation
Ameren
Edison International
E.ON U.S.
Dynegy Inc
Hoosier Energy
East Kentucky Power Coop
Source: Energy Information Administration (2006)
Reliant
AES Corp
Allegheny Energy Inc
DPL Inc
Mirant Corp
Buckeye Power Inc
Tennessee Valley Authority
American Electric Power (AEP)
CMS Energy
DTE Energy
(Companies in PJM States)
Duke Energy
Old Dominion Electric Coop
FirstEnergy
Progress Energy
2006 CO2 Emissions Rate Ranking
Dominion
Power’s assets have a low carbon profile …
PPL
Constellation Energy Group, Inc
U S Bank National Assoc
Cogen Technologies Linden Vent
… which is well positioned for virtually any form of carbon
PSEG
Exelon Corporation
20
21. The implementation of carbon legislation will address
the critical issue of global warming …
By Fuel Type
Coal CTs CC
PSEG Power Generation by Fuel
Carbon tons/MWh 1.0 0.6 0.4
Price ($/MWh) 2007 Total GWh: 53,200
@$10/ton $10.0 $6.0 $4.0
Nuclear
@$20/ton $20.0 $12.0 $8.0
@$30/ton $30.0 $18.0 $12.0 54%
Pumped
Storage
Dispatch curve implication @ $20/ton*
1%
19%
25%
On margin $/MWh Impact
(Illustrative) Gas
($/MWh) Coal
Coal 50% $20.0 $10.00
Oil 1%
CTs 10% $12.0 $1.20
Gas CC 40% $8.0 $3.20
Nuclear 0% $0.0 $0.00
Total 100% $14.40
… and will put additional upward pressure on energy prices.
21
* For illustration purposes – potential impact of CO2 on power prices with current dispatch – not an indication of net effect on income.
22. Rising coal and natural gas prices have driven LMPs ...
Central Appalachian Coal ($/Ton) Natural Gas Henry Hub ($/MMbtu)
$90 $10.0
$9.5
$80
$9.0
$70
$8.5
$8.0
$60
$7.5
$50
$7.0
$40 $6.5
07
7
7
8
07
07
08
07
07
7
7
8
07
07
08
l-0
07
-0
-0
l-0
-0
-0
-
v-
p-
n-
n-
ay
ar
ar
-
v-
p-
n-
n-
Ju
ay
ar
ar
No
Ju
Ja
Ja
Se
M
M
No
Ja
Ja
Se
M
M
M
M
2009 2010 2011 2009 2010 2011
On Peak Heat Rate Expansion (MMbtu/MWh)
Electric PJM Western Hub RTC Price ($/MWh)
10.5
$80
$75
10.0
$70
9.5
$65
9.0
$60
8.5
$55
07
7
7
8
07
07
08
07
07
7
7
8
07
07
08
07
l-0
-0
-0
l-0
-0
-0
-
v-
n-
p-
n-
-
ay
v-
ar
ar
n-
p-
n-
Ju
ay
ar
ar
Ju
No
Ja
Ja
Se
No
M
M
Ja
Ja
Se
M
M
M
M
2009 2010 2011
2009 2010 2011
… and this trend may continue.
22
Note: Forward prices as of 4/28/08
23. Power’s hedging program provides near-term stability from
market volatility …
Contracted Energy Power has
100% $80
contracted for a
nuclear output
% of coal and % sold
considerable
(left
75% Price
$/MWh
scale)
percent of its
(right
50% $70
scale)
output over the
next three years
25%
at increasing
0% $60
prices.
2008 2009 2010 2011
Estimated impact of
$10/MWh PJM West
around the clock $0.01 - $0.02 $0.04 - $0.10 $0.15 - $0.45 $0.30 - $0.70
price change*
($/share)
Contracted Capacity
The pricing for
100% $200
most of Power’s
% of capacity
$/MW-day
75% $150
capacity has been
Price
(right
fixed through May
scale)
50% $100
of 2011, by virtue
% sold
(left
of the completed
25% $50
scale)
auctions in PJM
0% $0
Estimated impact of and NE.
2008 2009 2010 2011
$30/MW-day capacity
price change* $0.00 - $0.01 $0.00 - $0.01 $0.00 - $0.01 $0.05 - $0.15
($/share)
… while remaining open to long-term market forces. 23
* Assuming normal market commodity correlations
24. Items Excluded from Net Income to Reconcile to Operating Earnings
($ millions) (EPS)
Years Ended Dec. 31, Years Ended Dec. 31,
2007 2006 2007 2006
Merger related Costs:
PSE&G $ - $ (1) $ -
Enterprise - (7) (0.02)
Total Merger related Costs $ - $ (8) $ - $ (0.02)
Impact of Asset Sales:
Loss on Sale of RGE - (178) $ - $ (0.35)
Chilquinta & Luz Del Sur (23) - (0.05) -
Write down of Turboven (7) - (0.01) -
Premium on bond redemption (28) (7) (0.06) (0.02)
Total Impact of Asset Sales $ (58) $ (185) $ (0.12) $ (0.37)
Discontinued Operations:
Power - Lawrenceburg $ (8) $ (239) $ (0.02) $ (0.47)
Holdings:
SAESA (33) 57 (0.06) 0.11
Electroandes 57 16 0.11 0.03
Elcho and Skawina - 226 - 0.45
$ 24 $ 299 $ 0.05 $ 0.59
Total Holdings
Total Discontinued Operations $ 16 $ 60 $ 0.03 $ 0.12
Please see Slide 3 for an explanation of PSEG’s use of Operating Earnings as a non-GAAP financial measure and how
it differs from Net Income.
24