Improving the Resiliency of the Electric Grid is Central to PSEG's Sustainability Strategy

Company's report shows infrastructure improvements also drive economic growth in New Jersey

News provided by

Public Service Enterprise Group (PSEG)

Nov 04, 2014, 10:00 ET

NEWARK, N.J., Nov. 4, 2014 /PRNewswire/ -- PSEG (NYSE:PEG) today released its 2014 sustainability report, offering a critical look at how the company's investments in infrastructure, solar energy and energy efficiency projects are improving the reliability and resilience of its electric and gas systems, while creating countless business opportunities and thousands of well-paying jobs.

The report reaffirms PSEG's standing as a leader in providing safe, reliable, economic and greener energy. It includes an analysis from Rutgers University that concluded that the company's 10-year, $8.1 billion transmission investment program will support 6,000 jobs annually – generating more than $4.3 billion in salaries and benefits to workers and more than $640 million in state and local government revenue.

"We recognize that economic development in the communities we serve is not only important to our customers, but to the growth of our company," said Ralph Izzo, Chairman and CEO, PSEG. "We continue to invest in large scale projects in New Jersey that are improving the electric grid, creating thousands of good paying jobs for residents and providing business for many local firms. A reliable, resilient electric and gas system makes NJ a better place to live and do business."

The report, the company's sixth, also emphasizes PSEG's success in expanding its communication and support to its customers through social media, with the largest Twitter following of any utility, helping New Jersey meet its renewables goals through its solar development program turning landfills and brownfields green, and reducing its carbon footprint through its electric car program providing "smart" charging stations to business in New Jersey for approximately 150 cars.

"As a company, we continually look for ways to improve how we provide energy in terms of increased reliability and less cost and impact on the environment," added Izzo. "That's how we've been operating our business for more than a hundred years and will continue to do so."

In 2014, PSEG was named to the Dow Jones Sustainability North America Index, for the seventh consecutive year. The company was also prominently featured again on Public Utilities Fortnightly's magazine's list of Best Energy Companies, ranking second among all "Top 40" companies for the third consecutive year.

PSEG's 2014 Corporate Sustainability Report is available online at www.pseg.com/sustainability.

Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of $10 billion. Its operating subsidiaries are: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Long Island.

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SOURCE Public Service Enterprise Group (PSEG)