公务集团 2025年度报告

FORM 11-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the fiscal year ended December 31, 2025 OR TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 Commission File Number 001-09120 A.Full title of the plan and the address of the plan, if different from that of the issuer named below: LONG ISLAND ELECTRIC UTILITY SERVCO LLCINCENTIVE THRIFT PLAN II B.Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED80 PARK PLAZANEWARK, NEW JERSEY 07102 Page(s)REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM1FINANCIAL STATEMENTSStatements of Net Assets Available for Benefits (Modified Cash Basis) as of December 31, 2025 and 20242Statement of Changes in Net Assets Available for Benefits (Modified Cash Basis) for the Year Ended December 31,20253NOTES TO FINANCIAL STATEMENTS (Modified Cash Basis)As of December 31, 2025 and 2024 and for the Year Ended December 31, 20254-11SUPPLEMENTAL SCHEDULESchedule H, Line 4i - Schedule of Assets (Held at End of Year) (Modified Cash Basis) as of December 31, 202512SIGNATURE13EXHIBIT INDEX14 All other schedules required by Section 2520.103.10 of the Department of Labor’s Rules and Regulations for Reporting andDisclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable. REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Employee Benefits Committee, Plan Administrator, and Participants of Long Island Electric Utility ServCo LLC IncentiveThrift Plan II: Opinion on the Financial Statements We have audited the accompanying statements of net assets available for benefits (modified cash basis) of Long Island ElectricUtility ServCo LLC Incentive Thrift Plan II (the “Plan”) as of December 31, 2025 and 2024, the related statement of changes in netassets available for benefits (modified cash basis) for the year ended December 31, 2025, and the related notes (collectively referredto as, the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assetsavailable for benefits (modified cash basis) of the Plan as of December 31, 2025 and 2024 and the changes in net assets availablefor benefits (modified cash basis) for the year ended December 31, 2025, in conformity with the modified cash basis of accountingdescribed in Note 2. Basis for Opinion These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan’sfinancial statements based on our audits. We are a public accounting firm registered with the Public Company AccountingOversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with theU.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to erroror fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.As part of our audits we are required to obtain an understanding of internal control over financial reporting, but not for the purposeof expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express nosuch opinion. Our audits included performing procedures to assess the risk of material misstatement of the financial statements, whether due toerror or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidenceregarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principlesused and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Webelieve that our audits provide a reasonable basis for our opinion. Modified Cash Basis of Accounting As described in Note 2, these financial statements and supplemental schedule were prepared on a modified cash basis ofaccounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America. Ouropinion is not modified with respect to this matter. Supplemental Information The supplemental information in the accompanying Schedule H, Line 4i - Schedule of Assets (held at end of year) (modified cashbasis) as of December 31, 2025 has been subjected to audit procedures performed in conjunction with the audit of the Plan’sfinancial statements. The supplemental information is the responsibility of the Plan’s management. Our audi