Public Service Enterprise Group Inc. (PSEG) is a leading energy company headquartered in Newark, New Jersey. PSEG is listed on the New York stock exchange under the ticker symbol 'PEG'. It has been fulfilling the energy needs of its customers, having built a reputation for reliability and resilience.
The company has three primary subsidiaries known as Public Service Electric and Gas Company (PSE&G), PSEG Power LLC, and PSEG Enterprise Holdings LLC. PSE&G is the largest subsidiary and serves over 2.3 million electric customers and around 1.8 million gas customers, making it the largest utility provider in New Jersey. PSEG Power, on the other hand, is a major unregulated US power generator with four primary operating subsidiaries of its own, with about 12,000 mega-watts of generating capacity.
PSEG has positioned itself as a leader in clean energy. Its vision for sustainability focuses on protecting the environment, promoting safety, supporting local communities, and providing reliable and low-cost energy solutions. The company has substantially reduced its emissions over the years and aims to become fully net-zero (carbon-free) by 2050, aligning with the global efforts to combat climate change.
Notwithstanding its environmental commitments, PSEG offers innovative services in the power generation sector. This includes installing custom energy solutions like solar panels and cogeneration units, providing power supply for industrial and commercial facilities, and managing energy projects and services for federal, state, and local governments. PSEG also continues to make significant investments in grid modernization and resilient infrastructure to enhance system reliability and withstand natural disasters.
PSEG, in 2020, celebrated its 117th year of service. It's a testament to its prudent business operations, yielding sound economic returns while maintaining fiscal discipline. Despite challenging business environments, such as the COVID-19 pandemic, PSEG maintained its commitment to delivering safe and reliable energy, protecting the health of employees and customers, and supporting the communities in which they operate.
In line with their commitment to corporate responsibility and to ensure fair and balanced growth for all stakeholders, PSEG emphasizes a diverse and inclusive workforce. The company strives for transparency and strong governance practices and has been recognized for its efforts, including being listed among Forbes' "America's Best Employers for Diversity."
In summary, Public Service Enterprise Group Inc. is not just an energy company; it's an institution that provides critical services to millions, emphasizing sustainability, inclusion, and corporate responsibility.