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Public Service Enterprise Group Incorporated reports recurring developments for a predominantly regulated infrastructure company centered on PSE&G, New Jersey's largest transmission and distribution utility. Company updates commonly cover operating and financial results, earnings guidance, capital investments, regulatory proceedings, quarterly dividends and reliability during extreme weather events.
PSEG disclosures also address its independent carbon-free baseload nuclear generating fleet in New Jersey and Pennsylvania, PSEG Long Island's operation of the Long Island Power Authority transmission and distribution system, and PSE&G programs tied to energy efficiency, customer service, transmission-cost allocation and community impact.
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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