The Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company headquartered in Newark,

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delawa ...

and was established in 1985 with a legacy dating back to 1903. The company's largest subsidiary is Public Service Electric and Gas Company (PSE&G). The Public Service Electric and Gas Company is a regulated gas and electric utility company established in 1928 serving the state of New Jersey and it is New Jersey's oldest and largest investor owned utility company; it was originally a subsidiary of the New-Jersey-based

Public Service Corporation The Public Service Corporation (PSC) was an energy and transportation company in New Jersey. It was formed to shore up financing and development of New Jersey's streetcar and power companies at a time when they were growing but exhausting capital. ...

History

PSE&G/PSEG origins date back to 1903 with the defunct

Public Service Electric and Gas Company

The Public Service Electric and Gas Company, commonly referred to as PSE&G, is the primary subsidiary of the Public Service Enterprise Group (PSEG) and was established in 1928. The

was formed in 1903 by combining more than 400 gas, electric and transportation companies in New Jersey. In 1928, the corporation merged its electric and gas utilities into a single company, PSE&G. Also in 1928, Public Service Coordinated Transport was formed as an umbrella for the transit businesses. The parent Public Service Corporation was dissolved in 1948 and PSE&G became an independent company, with Public Service Coordinated Transport as a subsidiary. PSCT was renamed Transport of New Jersey in 1971, and sold to

New Jersey Transit New Jersey Transit Corporation, branded as NJ Transit, and often shortened to NJT, is a state-owned public transportation system that serves the U.S. state of New Jersey, along with portions of New York State and Pennsylvania. It operates bu ...

in 1980, leaving PSE&G exclusively in the utility business.

Public Service Enterprise Group

The Public Service Enterprise Group (PSEG) was established in 1985 to take control of the Public Service Electric and Gas Company (PSE&G). In 1989, Public Service Enterprise Group established the Enterprise Diversified Holdings Inc. (now PSEG Energy Holdings) to begin consolidation of unregulated businesses. In 2000, Public Service Enterprise Group split off the PSE&G subsidiary's unregulated national power generation assets to form PSEG Power, while the PSE&G subsidiary continued operating in New Jersey as a regulated gas and electric delivery company. In June 2005, the acquisition of PSEG by

Exelon Exelon Corporation is an American Fortune 100 energy company headquartered in Chicago, Illinois and incorporated in Pennsylvania. It generates revenues of approximately $33.5 billion and employs approximately 33,400 people. Exelon is the largest ...

, a

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = List of sovereign states, Count ...

and

Philadelphia Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Since ...

based utility conglomerate, was approved by the

Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency that regulates the transmission and wholesale sale of electricity and natural gas in interstate commerce and regulates the transportation of oil by pipeline in ...

; however, the deal was never consummated and eventually dissolved after it became clear that it would not win state regulatory approval from the

New Jersey Board of Public Utilities The New Jersey Board of Public Utilities (NJBPU) is a regulatory authority in New Jersey "with authority to oversee the regulated utilities, which in turn provide critical services such as natural gas, electricity, water, telecommunications and c ...

. In 2009, PSEG began installing

solar panel A solar cell panel, solar electric panel, photo-voltaic (PV) module, PV panel or solar panel is an assembly of photovoltaic solar cells mounted in a (usually rectangular) frame, and a neatly organised collection of PV panels is called a photo ...

s on 200,000 utility poles in its service area in a project costing $773 million, the largest such project in the world. The Solar 4 All project increased the capacity for renewable energy in New Jersey and was completed in 2013. In addition, PSEG is building four solar farms in Edison,

Hamilton Hamilton may refer to: People * Hamilton (name), a common British surname and occasional given name, usually of Scottish origin, including a list of persons with the surname ** The Duke of Hamilton, the premier peer of Scotland ** Lord Hamilto ...

, Linden, and Trenton. In August 2020, about 400,000 customers on Long Island and 490,000 customers in New Jersey under the jurisdiction of PSEG were left without power as a result of

Hurricane Isaias Hurricane Isaias () was a destructive Category 1 hurricane that caused extensive damage across the Caribbean and the East Coast of the United States while also spawning a large tropical tornado outbreak that generated the strongest tropical c ...

. Although some got power back within hours of Isaias, some had to wait days for power to be restored. As of August 10, 2020, around 42,000 Long Island customers were still without power, while around 20,000 New Jersey customers were without power. State and local officials have called for more accountability from PSEG after the storm passed. Governor

Andrew Cuomo Andrew Mark Cuomo ( ; ; born December 6, 1957) is an American lawyer and politician who served as the 56th governor of New York from 2011 to 2021. A member of the Democratic Party, he was elected to the same position that his father, Mario Cuo ...

threatened to take away operating licenses from PSEG and ConEdison, while Nassau County Executive

Laura Curran Laura Curran (born December 31, 1967) is a Canadian-born American politician who served as the county executive of Nassau County from 2018 to 2021. She was the ninth county executive in Nassau County history and the first woman to hold the offi ...

along with several state senators called for reimbursement to customers for their failure to respond quickly.

Operations

Public Service Enterprise Group has three operating subsidiaries: * Public Service Electric and Gas (PSE&G) * PSEG Long Island * PSEG Power

Public Service Electric and Gas

PSE&G serves the population in an area consisting of a diagonal corridor across the state from

Bergen Bergen (), historically Bjørgvin, is a city and municipalities of Norway, municipality in Vestland county on the Western Norway, west coast of Norway. , its population is roughly 285,900. Bergen is the list of towns and cities in Norway, secon ...

Gloucester Gloucester ( ) is a cathedral city and the county town of Gloucestershire in the South West of England. Gloucester lies on the River Severn, between the Cotswolds to the east and the Forest of Dean to the west, east of Monmouth and east o ...

Counties. PSE&G is the largest provider of gas and electric service, servicing 1.8 million gas customers and 2.2 million electric customers in more than 300 urban, suburban and rural communities, including New Jersey's six largest cities. PSEG's transmission line voltages are 500 kilovolts (kV), 345 kV, 230 kV and 138 kV with interconnections to utilities in

Pennsylvania Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, ...

Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent ...

, and

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

. The company's subtransmission voltages are 69 kV and 26 kV. PSEG's distribution voltages are 13.2 kV and 4.16 kV.

PSEG Power

PSEG Power has four main subsidiaries: PSEG Nuclear, PSEG Fossil, PSEG Energy Resources & Trade, and PSEG Power Ventures. PSEG Nuclear operates three

nuclear reactor A nuclear reactor is a device used to initiate and control a fission nuclear chain reaction or nuclear fusion reactions. Nuclear reactors are used at nuclear power plants for electricity generation and in nuclear marine propulsion. Heat fr ...

s at two facilities in Lower Alloways Creek Township. PSEG owns one reactor at Hope Creek Nuclear Generating Station and operates two reactors at

Salem Nuclear Power Plant The Salem Nuclear Power Plant is a two unit pressurized water reactor nuclear power plant located in Lower Alloways Creek Township, in Salem County, New Jersey, in the United States. It is owned by PSEG Nuclear LLC and Constellation Energy. L ...

where PSEG Nuclear holds a 57 percent stake (in partnership with Exelon Corporation). The three plants receive $300 million per year in subsidies. Exelon also operates two reactors at

Peach Bottom Nuclear Generating Station Peach Bottom Atomic Power Station, a nuclear power plant, is located southeast of Harrisburg in Peach Bottom Township, York County, Pennsylvania, on the Susquehanna River three miles north of the Maryland border. The Philadelphia Electric Comp ...

in a 50/50 joint venture with PSEG.

PSEG Long Island

PSEG Long Island provides electricity to 1.1 million customers in Nassau and Suffolk counties, and the Rockaway Peninsula of

Queens Queens is a borough of New York City, coextensive with Queens County, in the U.S. state of New York. Located on Long Island, it is the largest New York City borough by area. It is bordered by the borough of Brooklyn at the western tip of Long ...

, part of

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

. This system operates under an agreement with the

Long Island Power Authority Long Island Power Authority (LIPA, "lie-pah") is a municipal subdivision of the State of New York that owns the electric transmission and electric distribution system serving all of Long Island and a portion of New York City known as the Rocka ...

, the state agency that owns the system, that went into effect January 1, 2014. PSEG was selected to essentially privatize LIPA after the controversies surrounding

Hurricane Sandy Hurricane Sandy (unofficially referred to as ''Superstorm Sandy'') was an extremely destructive and strong Atlantic hurricane, as well as the largest Atlantic hurricane on record as measured by diameter, with tropical-storm-force winds spann ...

, taking over near complete control of the system including its brand name, whereas before this agreement only a number of functions were performed by the private sector and the system was operated under the LIPA name.

Environmental record

In 2001,

NOAA The National Oceanic and Atmospheric Administration (abbreviated as NOAA ) is an United States scientific and regulatory agency within the United States Department of Commerce that forecasts weather, monitors oceanic and atmospheric conditio ...

presented PSEG with The Walter B. Jones Memorial and NOAA Excellence Awards in Coastal and Ocean Resource Management in the category of Excellence in Business Leadership for its Estuary Enhancement Program.

References

External links

* {{DEFAULTSORT:Public Service Electric And Gas Company Electric power companies of the United States Non-renewable resource companies established in 1903 Companies based in Newark, New Jersey Companies listed on the New York Stock Exchange Companies in the Dow Jones Utility Average 1903 establishments in New Jersey American companies established in 1903