PSEG: Poised for the Next 110 Years

Photo credit: NYSE

This year, PSEG joined a very small, elite circle of publicly traded companies by providing a dividend to its shareholders for the 110th consecutive year.

That milestone, which members of PSEG’s finance team and I were proud to commemorate during a bell-ringing ceremony at the New York Stock Exchange, reflects our company’s long record of reliability – to our customers, to our employees and, of course, to our shareholders.

For more than a century, Public Service has embodied a standard of reliability by meeting our customers’ needs for a universal, 24/7 supply of affordable energy. At the same time, we have provided shareholders with sustainable, long-term value built on operational excellence, financial strength and disciplined investment.

Our commitment to those values will guide us over the next 110 years, as well – even as the world’s relationship with energy continues to evolve.

  • We will accomplish this by continuing to invest in our electric and natural gas infrastructure – improving our transmission and distribution system to be cleaner, more efficient, more reliable and more resilient to extreme weather.In the short-term, we plan to invest $12 billion in PSE&G’s energy infrastructure over the next five years.Those investments – such as our Energy Strong program, implemented after Superstorm Sandy – will fortify our systems against flooding and other extreme weather conditions by raising substations and strengthening our grid. They also will modernize an aging system of cast-iron and unprotected steel gas mains to reduce leaks that disrupt service and release greenhouse gases.
  •  We will accomplish this by increasing efficiency and streamlining operations at our fleet of power plants.We are investing $2 billion in new generation – with the development and construction of new plants in Sewaren, N.J., Bridgeport, Conn., and Prince George’s County, Md., that will improve the efficiency of our fleet.
  • In the future, we expect to invest in an even more diverse portfolio that includes renewables, such as solar energy; increased access to energy efficient technology for customers at all income levels; and a greater ability for customers to interact directly with our energy grid.

For more than a century, PSEG’s success has been built upon a foundation of reliability and a commitment to serve our customers and the public good.

Moving forward, PSEG will continue to provide reliability for both customers and shareholders by finding creative ways to meet customers’ needs – and demands – for a more modern electric grid.

Our commitment to providing customers with universal access to a reliable, resilient grid and a 24/7 supply of safe, clean and affordable energy is a common thread linking our company’s past success with our commitments to the future.

 Dan Cregg, Executive Vice President And Chief Financial Officer, PSEG

Dan Cregg, Executive Vice President and Chief Financial Officer, PSEG

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