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Public Service Enterprise Group Inc. (PSEG) (NYSE: PEG) delivers essential energy services to 2.3 million electric and 1.9 million gas customers across New Jersey and New York while advancing clean energy solutions through nuclear generation and solar projects. This news hub provides investors and stakeholders with direct access to official company announcements and market-moving developments.
Track PSEG's quarterly earnings reports, regulatory filings with state commissions, and progress on major infrastructure initiatives like grid modernization programs. Discover updates on nuclear plant operations, renewable energy investments, and partnerships supporting New Jersey's Energy Master Plan.
Key content categories include dividend declarations, rate case decisions, sustainability reports, and operational milestones across PSEG Power's generation fleet. All materials are sourced directly from company communications to ensure accuracy and timeliness.
Bookmark this page for streamlined access to PSEG's latest strategic moves in balancing reliable energy delivery with environmental stewardship goals. Monitor critical updates affecting one of the Northeast's most significant energy providers through verified primary sources.
Public Service Enterprise Group (PSEG) reported a 2021 net loss of $648 million ($1.29 per share), a significant decline from a net income of $1,905 million ($3.76 per share) in 2020. However, non-GAAP operating earnings improved to $1,853 million ($3.65 per share) from $1,741 million ($3.43 per share) in 2020. The fourth quarter saw net income rise to $445 million ($0.88 per share), compared to $431 million ($0.85 per share) a year earlier. PSEG's 2022 guidance for non-GAAP operating earnings narrowed to $3.35 to $3.55 per share, reflecting a positive outlook despite overall losses.
Public Service Enterprise Group (PSEG) has finalized the sale of its fossil generating assets in New York and Connecticut to ArcLight Energy Partners Fund VII. This sale is part of PSEG's broader strategy to shift towards a cleaner energy portfolio, now comprising 90% regulated assets. PSEG emphasizes enhancing its commitment to a carbon-free economy, focusing on clean energy investments and maintaining its nuclear generation fleet. The company is actively participating in the U.N.-backed Race to Zero campaign and has set ambitious net-zero goals across its operations.
Public Service Enterprise Group (PSEG) has finalized the sale of its fossil generating assets in New Jersey and Maryland to ArcLight Capital Partners. This sale is part of a broader strategic initiative launched in July 2020, aimed at enhancing PSEG's focus on regulated utility growth and clean energy investments. The company is on track to achieve a 90% regulated business composition. The sale of additional assets in New York and Connecticut is anticipated to complete within Q1 2022, pending regulatory approvals.
The Board of Directors of Public Service Enterprise Group (NYSE: PEG) announced a quarterly common stock dividend of $0.54 per share for Q1 2022, payable on March 31, 2022. This marks a 5.9% increase from the previous dividend, making the annual rate $2.16 per share. This dividend increase represents the 18th increase in 19 years and the company's 115th consecutive year of dividend payments, showcasing PSEG's strong balance sheet and growth strategy.
Public Service Enterprise Group (PSEG) announced a $35 million investment in funds managed by Energy Impact Partners (EIP), focusing on early-stage technologies that combat climate change. This investment aims to support financial returns while advancing PSEG's sustainability roadmap, with a commitment to net-zero greenhouse gas emissions by 2030. PSEG has significantly reduced its GHG emissions by 54% since 2005 and is engaged in various climate initiatives. The partnership with EIP is expected to enhance PSEG's environmental, social, and governance (ESG) strategies.
Donnelly Energy has secured a contract through PSE&G's Direct Install Program, valid until 2023. This program aids businesses and government entities in New Jersey to enhance energy efficiency with subsidized upgrades. PSE&G covers 100% of upfront costs, allowing customers to repay just 20% interest-free over 60 months. Donnelly Energy will manage implementations in Passaic, Morris, Middlesex, and Hunterdon Counties, offering energy audits and installation services. The company has over 12 years of experience, having excelled in similar programs previously.
PSEG Long Island President and COO Daniel Eichhorn will retire in 2022 after 32 years of service. Eichhorn's retirement aims to facilitate a smooth leadership transition as the Long Island Power Authority board reviews a revised operations services agreement. Since his appointment in October 2017, Eichhorn has focused on operational improvements and customer satisfaction. His tenure is marked by a commitment to enhancing customer service and a strong dedication to the clean energy goals of the state.
PSEG is joining the National Electric Highway Coalition to establish a national electric vehicle (EV) charging network. The Clean Energy Future – Electric Vehicle program will support the installation of 45,000 EV chargers in New Jersey, with 3,000 providing fast-charging services along major highways. This initiative addresses 'range anxiety' and aims to provide accessible charging solutions. PSEG's program aligns with its vision for cleaner energy delivery and reliability, enhancing relationships with regional utilities.
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