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Public Service Enterprise Group Incorporated (PSEG) (NYSE: PEG) generates frequent news as a predominantly regulated infrastructure company operating in the utilities sector. Through its subsidiaries Public Service Electric & Gas Co. (PSE&G), PSEG Power and PSEG Long Island, the company reports on developments in electric and gas delivery, nuclear generation, customer programs and regulatory matters.
News about PSEG often includes financial results and earnings guidance, as reflected in quarterly announcements furnished on Form 8-K. These updates cover segment performance for PSE&G and PSEG Power & Other, capital investment in New Jersey’s energy infrastructure, and commentary on regulatory and market conditions that affect customers and operations.
Another major theme in PSEG news is customer satisfaction and reliability. PSE&G has been recognized by J.D. Power for residential customer satisfaction among large electric utilities in the East Region, and for gas service, while also earning the ReliabilityOne Award for superior electric system reliability in the Mid-Atlantic region. PSEG Long Island has reported top rankings in the J.D. Power Electric Utility Business Customer Satisfaction Study in the East Large Segment, highlighting improvements in customer experience for business customers on Long Island and in the Rockaways.
PSEG news releases also highlight contract developments and operational milestones, such as the Long Island Power Authority Board of Trustees’ approval of a five-year contract extension for PSEG Long Island as operations service provider through 2030, and the New York State comptroller’s approval of the associated operations services agreement extension.
In addition, PSEG and the PSEG Foundation issue news about community and affordability initiatives, including grant programs that support food banks, housing assistance, and energy assistance organizations. PSE&G and PSEG Long Island also publicize customer assistance events and energy efficiency programs aimed at helping households and businesses manage energy use and costs.
Investors and observers can use this news feed to follow PSEG’s earnings announcements, regulatory and contract updates, customer satisfaction recognition, and community-focused initiatives across New Jersey and Long Island.
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The Board of Directors of Public Service Enterprise Group (NYSE:PEG) has declared a $0.57 per share dividend for common stock for the second quarter of 2023. This dividend is payable on or before June 30, 2023, to shareholders of record as of June 9, 2023. The announcement reflects the company's commitment to returning value to its shareholders. PSEG is a diversified energy company with several operating subsidiaries, including Public Service Electric and Gas Company and PSEG Power.
Public Service Enterprise Group (PSEG) announced that it will host its first-quarter 2023 earnings call on May 2, 2023, at 11:00 a.m. ET. During this call, PSEG management will present the company's financial results and discuss other notable topics. A live audio webcast will be available on PSEG's Investor Relations website, with a replay scheduled for May 3. PSEG is committed to a clean energy future, with initiatives aligning with its net-zero 2030 climate vision, and actively participates in sustainability efforts. The company emphasizes transparency about forward-looking statements, cautioning that actual outcomes may differ due to various risks and uncertainties.
PSEG announced leadership changes in its nuclear division as Eric Carr, president and chief nuclear officer of PSEG Nuclear, will leave the company effective May 19, 2023, for a position outside. Charles "Chaz" McFeaters, currently senior vice president Nuclear Operations, will take over as president and chief nuclear officer. McFeaters brings over 30 years of experience in the nuclear industry, having joined PSEG in 2016. CEO Ralph LaRossa expressed confidence in McFeaters' ability to ensure a smooth transition and uphold PSEG Nuclear's commitment to safety and operational excellence. This leadership change is part of PSEG's strategy to develop internal talent and maintain its focus on clean energy goals in New Jersey.
PSEG announced its 2023 Investor Conference, scheduled for March 10, highlighting strategic milestones aimed at enhancing earnings and cash flow. The company plans a $15.5 billion to $18 billion capital investment from 2023 to 2027, primarily through PSE&G, which is expected to generate ~90% of non-GAAP Operating Earnings. PSEG will retain its nuclear fleet, benefiting from the Inflation Reduction Act's production tax credit, while exiting offshore wind generation. The company reaffirmed its 2023 non-GAAP Operating Earnings guidance of $3.40 to $3.50 per share and a long-term earnings growth rate of 5% to 7% until 2027.