UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 9, 2017
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED
(Exact name of registrant as specified in its charter)
| | | | |
| New Jersey | | 001-09120 | | 22-2625848 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
80 Park Plaza
Newark, New Jersey 07102
(Address of principal executive offices) (Zip Code)
973-430-7000
(Registrant’s telephone number, including area code)
http://www.pseg.com
PUBLIC SERVICE ELECTRIC AND
GAS COMPANY
(Exact name of registrant as specified in its charter)
| | | | |
| New Jersey | | 001-00973 | | 22-1212800 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
80 Park Plaza
Newark, New Jersey 07102
(Address of principal executive offices) (Zip Code)
973-430-7000
(Registrant’s telephone number, including area code)
http://www.pseg.com
Check the appropriate box below if the Form8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| | ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | ☐ | Soliciting material pursuant to Rule14a-12 under the Exchange Act (17 CFR240.14a-12) |
| | ☐ | Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17 CFR240.14d-2(b)) |
| | ☐ | Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17 CFR240.13e-4(c)) |
Indicate by check mark whether any of the registrants is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule12b-2 of the Securities Exchange Act of 1934(§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if such registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
The information contained in Item 8.01. Other Events in this Form8-K is separately filed, as noted, by Public Service Enterprise Group Incorporated (PSEG) and Public Service Electric and Gas Company (PSE&G). Information contained herein relating to any individual company is provided by such company on its own behalf and in connection with its respective Form8-K. PSE&G makes representations only as to itself and makes no other representations whatsoever as to any other company.
Item 8.01. Other Events
On May 9, 2017, the New Jersey Boroughs of Milltown, Park Ridge and South River submitted a joint complaint to the Federal Energy Regulatory Commission (FERC) against PSE&G alleging that the current base return on equity (ROE) of 11.18% used in PSE&G’s transmission formula rates is unjust and unreasonable and should be reduced to 8.3%. As an alternative request, the complaint asks FERC to set the matter for hearing and settlement procedures. Finally, the complaint requests that FERC establish May 9, 2017 as the refund effective date for the relief sought.
Since the complaint was filed under section 206 of the Federal Power Act, there is no prescribed timeframe in which FERC must act. We cannot predict the timing or final outcome of this matter, but the ultimate resolution of this matter could be material to the results of operations and financial condition of PSEG and PSE&G.
Forward-Looking Statements
The statements contained in this Current Report on Form8-K that are not purely historical, are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on management’s beliefs as well as assumptions made by and information currently available to management. When used herein, the words “anticipate,” “intend,” “estimate,” “believe,” “expect,” “plan,” “should,” “hypothetical,” “potential,” “forecast,” “project,” variations of such words and similar expressions are intended to identify forward-looking statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Other factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are discussed in our Annual Report on Form10-K and subsequent reports on Form10-Q and Form8-K filed with the Securities and Exchange Commission (SEC), and available on our website:http://investor.pseg.com/sec-filings. All of the forward-looking statements made in this Current Report are qualified by these cautionary statements and we cannot assure you that the results or developments anticipated by management will be realized or even if realized, will have the expected consequences to, or effects on, us or our business, prospects, financial condition, results of operations or cash flows. Readers are cautioned not to place undue reliance on these forward-looking statements in making any investment decision. Forward-looking statements made in this Current Report apply only as of the date hereof. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even in light of new information or future events, unless otherwise required by applicable securities laws.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
| | |
| PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED |
| (Registrant) |
| |
| By: | | /s/ Stuart J. Black |
| | Stuart J. Black Vice President and Controller (Principal Accounting Officer) |
Date: May 10, 2017
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
| | |
PUBLIC SERVICE ELECTRIC AND GAS COMPANY |
| (Registrant) |
| |
| By: | | /s/ Stuart J. Black |
| | Stuart J. Black Vice President and Controller (Principal Accounting Officer) |
Date: May 10, 2017
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