Public Service Enterprise Group
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| Type | Public |
|---|---|
| Traded as | NYSE: PEG S&P 500 Component |
| Industry | Utilities |
| Founded | 1903 |
| Headquarters | Newark, New Jersey, U.S. |
| Key people | Ralph Izzo (Pres., CEO) Caroline Dorsa (EVP, CFO) |
| Revenue | 12.406 billion USD (2009),  6.9% from 2008[1] |
| Operating income | 3.121 billion USD (2009), 19% from 2008 |
| Net income | 1.592 billion USD (2009), 34% from 2008 |
| Total assets | 28.730 billion USD (2009), 1.1% from 2008 |
| Employees | 10,352 (2009)[2] |
| Subsidiaries | PSE&G, PSEG Power, PSEG Energy Holdings |
| Website | http://www.pseg.com |
| 80 Park Plaza | |
|---|---|
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| General information | |
| Type | Office |
| Location | Park Plaza Newark, New Jersey |
| Completed | 1980 |
| Height | |
| Roof | 110 m (360 ft) |
| Technical details | |
| Floor count | 26 |
| Design and construction | |
| Owner | Public Service Enterprise Group |
| References | |
| [3][4][5] | |
Public Service Enterprise Group, commonly known as PSE&G,[6] and originally known as the Public Service Corporation of New Jersey and then as the Public Service Electric and Gas Company, is a regulated, publicly owned gas and electric utility company in the state of New Jersey, United States. It is New Jersey's oldest and largest investor owned utility. The company's headquarters is in Newark.
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History [edit]
The Public Service Corporation was formed in 1903 by amalgamating more than 400 gas, electric and transportation companies in New Jersey. It was renamed Public Service Electric and Gas Company in 1948. The transportation operations of today's PSE&G were purchased by New Jersey in 1980, leaving PSE&G exclusively in the utility business. In 1985, The Board of Directors created the Public Service Enterprise Group (PSEG) as a holding company, and formed Enterprise Diversified Holdings Inc. (EDHI) in 1989 (now PSEG Energy Holdings), to begin consolidation of its unregulated businesses.
In June 2005, the acquisition of PSEG by Exelon, a Chicago and Philadelphia based utility conglomerate, was approved by the Federal Energy Regulatory Commission; however, the deal was never consummated and eventually dissolved after it became clear that it would not win state regulatory approval.[7]
In 2009, PSEG announced plans to install solar panels on 200,000 utility poles in its service area in a project costing $773 million, the largest such project in the world.[8][9] The Solar 4 All project intends to increase the capacity for renewable energy in New Jersey and is expected to be completed in 2013.[10] In addition, PSEG is building four solar farms in Edison, Hamilton, Linden, and Trenton.[11]
Operations [edit]
PSEG currently serves nearly three quarters of New Jersey's population in a service area consisting of a 2,600-square-mile (6,700 km2) diagonal corridor across the state from Bergen to Gloucester 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.
Beginning in 2014, PSEG will begin operating the transmission and distribution system of the Long Island Power Authority under contract,[12] replacing National Grid plc.
System information [edit]
PSEG's transmission line voltages are 500,000 volts, 345,000 volts, 230,000 volts and 138,000 volts with interconnections to utilities in Pennsylvania, Delaware, and New York. The company's subtransmission voltages are 69,000 volts and 26,000 volts. PSEG's distribution voltages are 13,000 volts and 4,160 volts.
Environmental record [edit]
In 2001, PSEG received The Walter B. Jones Memorial and NOAA Excellence Awards in Coastal and Ocean Resource Management[13] in the category of Excellence in Business Leadership for its Estuary Enhancement Program.[14]
Researchers at the University of Massachusetts Amherst have identified PSEG as the 48th-largest corporate producer of air pollution in the United States, with roughly five million pounds of toxic chemicals released annually into the air.[15] Major pollutants indicated by the study include manganese, chromium and nickel compounds; sulfuric and hydrochloric acid.[16]
See also [edit]
References [edit]
- ^ "PEG: Income Statement for Public Service Enterprise Group - Yahoo! Finance". Finance.yahoo.com. Retrieved 2010-04-26.
- ^ "PEG: Profile for Public Service Enterprise Group - Yahoo! Finance". Finance.yahoo.com. 2009-12-31. Retrieved 2010-04-26.
- ^ "80 Park Plaza". Emporis.com. Retrieved 2010-07-30.
- ^ "80 Park Plaza". SkyscraperPage.com. Retrieved 2009-07-30.
- ^ http://bcdcnewark.org/building-and-sites/commercial-office/pseg-tower/
- ^ "pse&g - Google Search". Google. Retrieved 2012-11-02.
- ^ "Press Releases". Pseg.com. Archived from the original on December 24, 2007. Retrieved 2010-03-12.
- ^ "PSE&G plans $773M for solar panels on 200K utility poles". The Star-Ledger. February 10, 2009. Retrieved January 19, 2011.
- ^ "PSE&G To Install 105 Pole Mounted Solar Panels in the Borough of Magnolia". Borough of Magnolia. March 6, 2010. Retrieved January 19, 2011.
- ^ Sroka-Holzmann, Pamela (July 27, 2010). "PSE&G installing solar panels in Hillsborough". Courier News. Retrieved January 19, 2011.[dead link]
- ^ "PSE&G Selects Sites and Developers for 4 NJ Solar Projects Totaling 12 MW". PSEG. January 6, 2010. Retrieved January 19, 2011.
- ^ LIPA Press Release. "LIPA Board Selects PSEG to Operate the Long Island Electric Grid". LIPA, December 15, 2011.
- ^ "NOAA Awards details page". Oceanservice.noaa.gov. 2009-01-09. Retrieved 2010-03-24.
- ^ "Overview of the PSEG EPP program". Pseg.com. Archived from the original on June 19, 2008. Retrieved 2010-03-24.
- ^ Political Economy Research Institute Toxic 100 (Study released May 11, 2006). Retrieved 15 August 2007.
- ^ Toxics Release Inventory courtesy rtknet.org[dead link]
External links [edit]
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Wikimedia Commons has media related to: PSE&G headquarters |
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