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Company Overview
About Public Service Enterprise Group
Public Service Enterprise Group (PSEG) is a diversified energy company and the parent of Public Service Electric and Gas Company (PSE&G), New Jersey's largest regulated electric and gas utility, founded in 1903 and headquartered in Newark, New Jersey, trading on NYSE (PEG). For FY2024, PSEG generated approximately $9.8 billion in revenues under CEO Ralph LaRossa, who has accelerated the company's strategic transformation toward a pure regulated utility model. The pivotal transactions of 2022-2024—selling its fossil fuel power plants to ArcLight Capital Partners and completing the sale of its 50% interest in three New Jersey nuclear plants (Hope Creek and Salem 1 and 2) to Constellation Energy—eliminated PSEG's unregulated merchant generation exposure and positioned it as a pure-play regulated utility.
Business Model & Competitive Advantage
PSE&G serves approximately 2.3 million electric customers and 1.9 million gas customers across New Jersey's urban corridor and suburbs, including Newark, Jersey City, Trenton, Camden, and Princeton. The utility's infrastructure investment program—Energy Strong II and Clean Energy Future capital programs totaling $14 billion through 2026—addresses aging distribution infrastructure, electric vehicle charging infrastructure deployment, energy storage integration, and energy efficiency programs. PSE&G benefits from constructive New Jersey Board of Public Utilities rate-setting that incorporates investments in grid modernization, energy storage, and offshore wind interconnection. New Jersey's aggressive clean energy targets—100% clean electricity by 2035 and 11 GW of offshore wind by 2040—create a long-term capital deployment runway for PSE&G's transmission and distribution network.
Competitive Landscape 2025–2026
In 2025-2026, PSEG operates in New Jersey's complex energy environment, where offshore wind project cancellations (multiple developers withdrew projects in 2023-2024 citing rising costs) have created policy uncertainty around clean energy transition timelines. The data center build-out in Northern New Jersey—a major internet hub due to proximity to New York financial markets and fiber infrastructure—is driving unexpected electric load growth that benefits PSE&G's transmission investment program. PSEG competes with Jersey Central Power & Light (FirstEnergy subsidiary) for commercial and industrial customers along the New Jersey-Pennsylvania border, while maintaining its regulated monopoly franchise across its designated service territory.
The Public Service Enterprise Group Story
Founders
Recent Activity
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Major milestones in Public Service Enterprise Group's journey
Leadership Team
Meet the leaders behind Public Service Enterprise Group
Ralph A. LaRossa
Ralph A. LaRossa became President and Chief Executive Officer of PSEG in August 2022 and serves as Chair of the Board. He leads the company's transformation toward a predominantly regulated infrastructure model focused on clean energy.
Daniel J. Cregg
Daniel J. Cregg has served as Executive Vice President and Chief Financial Officer since October 2015, overseeing financial strategy, planning, and capital allocation for PSEG and its subsidiaries.
Kim Hanemann
Kim Hanemann has been President and Chief Operating Officer of Public Service Electric and Gas Company (PSE&G) since June 30, 2021, leading operations for New Jersey's largest utility serving 2.4 million electric and 1.9 million gas customers.
Grace H. Park
Grace H. Park became Executive Vice President and General Counsel for PSEG in September 2024, overseeing legal affairs, regulatory compliance, and corporate governance.
Scott Jennings
Scott Jennings assumed the role of Senior Vice President of Finance, Planning and Strategy in August 2022, leading financial planning and strategic initiatives.
Charles McFeaters
Charles McFeaters has been President and Chief Nuclear Officer of PSEG Nuclear since May 2023, overseeing operations of the third-largest nuclear generating facility in the United States.
Courtney McCormick
Courtney McCormick has served as Senior Vice President of Audit, Enterprise Risk and Compliance since December 2021, serving as the chief risk, audit, and compliance officer.
Key Differentiators
Market Leader
Public Service Enterprise Group is recognized as a market leader in the Energy & Utilities sector, demonstrating strong industry presence and customer trust.
Enterprise Scale
With $9.8B in revenue, Public Service Enterprise Group operates at enterprise scale with proven market validation.
Frequently Asked Questions
Estimated Visibility Trend (Beta)
Simulated 8-week rolling score
Based on estimated brand signals. Historical tracking coming soon.
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