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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.
PSEG Foundation has announced significant initiatives to combat food insecurity in New Jersey, where nearly one million people face hunger challenges. The foundation has committed $250,000 in grant funding to the Community Food Bank of New Jersey (CBFNJ) from 2024 to 2026. This partnership supports essential services including after-school meals, job training, and nutrition education.
PSEG employees have actively participated in volunteer efforts, recently helping distribute 548 cases of turkeys and over 2,000 holiday boxes, supporting more than 57,000 meals. The foundation also partners with the Food Bank of South Jersey and HomeFront, providing support across Burlington, Camden, Gloucester, and Salem counties through food pantry programs and additional services for low-income residents.
PSEG Foundation has announced its continued support for veteran-focused organizations through various initiatives in 2024. The company is supporting Community Hope, New Jersey's largest nonprofit serving unhoused veterans, through their Neighborhood Partners Program. Additionally, PSEG provided a $100,000 two-year grant to Thomas Edison State University's Military and Veteran Scholarship Fund, which has awarded 50 scholarships to military students and veterans.
The company also maintains its partnership with Volunteer Lawyers for Justice, supporting their Veterans Legal Program that provides free legal services to 338,000 New Jersey veterans. PSEG's managing counsel, Matt Jokajtys, was recognized as a Defender of Justice, and the company was nominated for the Pro Bono Institute's Corporate Pro Bono Award.
PSE&G has received two prestigious ReliabilityOne® Awards in 2024. The company won the Outstanding Metropolitan Service Area Reliability Performance Award for the Mid-Atlantic Region for the 23rd consecutive year, and the Outstanding Customer Engagement Award nationally for the second year running. PA Consulting recognized PSE&G for its innovative customer engagement strategies in outage reporting and restoration communications.
The utility is focusing on strengthening infrastructure with new technology while implementing improved customer communication methods. John Latka, senior vice president of Electric Transmission and Distribution, emphasized their commitment to maintaining affordable utility services with exceptional reliability. The awards reflect PSE&G's success in delivering best-in-class electric service reliability while providing positive customer experiences.
PSE&G conducted a three-hour gas emergency response exercise in Morristown, NJ, partnering with local first responders to simulate a gas emergency. The drill, held on Mt. Kemble Avenue, tested incident command and evacuation procedures, marking the company's sixth gas safety exercise this year. PSE&G reported responding to 853 excavation damage calls last year (736 gas and 117 electric), with a 99.9% response rate within one hour for gas emergencies. The company emphasized the importance of calling 811 for utility markouts before any digging projects to prevent accidents and infrastructure damage.
The PSEG Foundation has awarded a $1 million grant to Montclair State University Foundation to expand the PSEG Institute for Sustainability Studies' Green Teams internship program. The two-year funding will enhance the program's ability to tackle environmental and climate challenges in New Jersey. Over the past decade, 420 students have completed over 350 real-world sustainability projects supporting 53 local communities, nonprofits, and companies. The grant will focus on supporting overburdened communities, providing advanced technology training (GIS, drone, VR/XR), and strengthening partnerships with minority-serving institutions. The funding will cover intern stipends, travel expenses, and advanced training by expert personnel.
Public Service Enterprise Group (NYSE:PEG) announced that its Board of Directors has declared a quarterly dividend of $0.60 per share on the company's common stock for the fourth quarter of 2024. The dividend will be paid on or before December 31, 2024, to shareholders of record as of December 10, 2024.
PSE&G has received two prestigious ReliabilityOne® Awards in 2024: the Outstanding Metropolitan Service Area Reliability Performance Award for the Mid-Atlantic Region (23rd consecutive year) and the Outstanding Customer Engagement Award (second consecutive year). The awards recognize PSE&G's excellence in delivering reliable electric service and customer engagement strategy. The utility company is implementing innovative methods for customer engagement, outage reporting, and restoration communications while strengthening infrastructure with new technology. PSE&G's commitment to maintaining affordable utility services while providing exceptional reliability has been acknowledged through these awards, which involved a rigorous selection process based on system reliability statistics and independent certification.
Sesame Workshop has launched new free, bilingual resources to help children learn about community engagement, kindness, and teamwork. The initiative, supported by the PSEG Foundation, includes videos, printable activities, and articles featuring Sesame Street characters. The new content focuses on teaching children about community involvement through examples like garden cleanup, helping neighbors, and environmental awareness.
The resources, available in English and Spanish, feature familiar characters like Elmo and Abby in various scenarios demonstrating community service and cooperation. The launch celebrates a 10-year partnership with PSEG Foundation and aims to empower children as active community members while promoting environmental consciousness.
PSEG Long Island announces assistance programs for customers facing utility bill challenges as winter approaches. The company offers the Residential Energy Affordability Partnership Program and deferred payment agreements. New York State programs include Home Energy Assistance Program (HEAP), providing heating fuel grants for eligible households with monthly incomes up to $6,390 for a family of four, and Emergency HEAP opening January 2, 2025. The state also offers heating equipment repair/replacement benefits up to $8,000. Customers receiving these benefits automatically qualify for PSEG's Household Assistance Program, providing monthly bill discounts of $40+. The company also provides energy-saving tips and rebates for efficient equipment.
PSEG reported Q3 2024 net income of $520 million ($1.04 per share) and non-GAAP operating earnings of $448 million ($0.90 per share). The company narrowed its full-year 2024 non-GAAP operating earnings guidance to $3.64-$3.68 per share. PSE&G secured approval for two major regulatory filings: a base rate case providing $505 million in annual revenues and Clean Energy Future-Energy Efficiency programs authorizing $1.9 billion in investments. The company's five-year capital investment plan totals $19-22.5 billion, with no need for new equity or asset sales.
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