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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.
PSE&G's recent report on its Clean Energy Future Energy Efficiency (CEF-EE) initiatives reveals impressive outcomes. Over 380,000 customers have engaged with energy efficiency programs, resulting in projected annual savings of $484 million on utility bills. The initiatives include approximately 70,000 home energy assessments, sales of 306,000 smart thermostats, 95,000 power strips, and 97,000 retail appliance rebates.
Electric customers are expected to save over 2.1 million megawatt-hours annually, enough to power 312,000 homes, while natural gas savings are projected at 57 million therms. Collectively, these efforts aim to avoid 1.6 million metric tons of CO2 emissions yearly.
Commercial and industrial programs, such as the Small Business Direct Install Program, have saved business customers around $12 million in utility bills annually, along with significant energy savings. The Clean Energy Jobs Program has placed over 2,500 individuals in clean energy roles.
PSE&G's energy efficiency efforts have earned over 50 awards since 2021, including the 2024 ENERGY STAR® Partner of the Year Award for Sustained Excellence.
Public Service Enterprise Group (PSEG) announced that it will release its second quarter 2024 financial results on July 30, 2024. The earnings call will take place at 11:00 a.m. ET, where management will discuss the financial outcomes, guidance, capital investments, and regulatory activities. Interested parties can access the live audio webcast and presentation materials on PSEG's Investor Relations website. A replay of the webcast will be available by July 31 on the same platform.
PSEG Long Island has spent a decade fortifying its electric infrastructure against extreme weather, resulting in a resilient grid. The company unveiled a Climate Change Resilience Plan to prepare for future risks. Through storm-hardening efforts and a proactive study, PSEG Long Island aims to enhance reliability and address climate change challenges.
Essential Utilities Inc. (NYSE: WTRG) welcomes Christopher Bruner and Tamara Linde to its board of directors. Bruner, an Assurance Partner at Ernst & Young, brings 36 years of experience and will chair the audit committee. Linde, the Executive Vice President and General Counsel at Public Service Enterprise Group, has over 30 years of experience in the energy industry. Both have impressive backgrounds and will contribute significantly to Essential Utilities' governance.
PSEG Long Island has been honored for its innovative Time-of-Use program that lowered customer bills by an average of 10% and shifted 4-5% of electricity load out of peak hours. The success of the program led to a full-scale rollout to all 1.2 million customers starting in 2024. By focusing on customer research and personalized marketing initiatives, PSEG Long Island exceeded expectations and set a promising future.
Public Service Enterprise Group (PSEG) announced its first quarter 2024 results, reporting $1.06 per share net income and $1.31 per share non-GAAP operating earnings. The company reaffirmed its 2024 non-GAAP operating earnings guidance of $3.60 - $3.70 per share. PSEG's CEO, Ralph LaRossa, highlighted the positive performance in the first quarter, emphasizing rate base growth, nuclear production tax credit benefits, and plans for future growth through energy infrastructure investments.
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