# Public Service Enterprise Group

**Source:** https://geo.sig.ai/brands/public-service-enterprise-group  
**Vertical:** Energy & Utilities  
**Subcategory:** Enterprise  
**Tier:** Leader  
**Website:** pseg.com  
**Last Updated:** 2026-04-14

## Summary

NJ's largest regulated utility with ~4.2M combined electric/gas customers; $9.8B FY2024 revenue; pure regulated utility after nuclear/fossil divestiture 2022-2024; $14B clean energy capex through 2026.

## Company Overview

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.

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.

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.

## Frequently Asked Questions

### What does Public Service Enterprise Group (PSEG) do?
PSEG is a diversified energy holding company that generates, transmits, and distributes electricity and natural gas primarily in New Jersey. The company operates through its main subsidiary PSE&G, which serves 2.4 million electric customers and 1.9 million gas customers. PSEG also operates three nuclear power plants in South Jersey (Salem 1 & 2 and Hope Creek) that comprise the third-largest nuclear facility in the U.S., generating approximately 40% of New Jersey's electricity and 85% of the state's carbon-free power. The company is focused on clean energy infrastructure and has committed to achieving net-zero carbon emissions by 2030.

### Who are PSEG's customers and target market?
PSEG primarily serves residential, commercial, and industrial customers across central and northern New Jersey through its PSE&G subsidiary. The customer base includes approximately 2.4 million electric customers and 1.9 million natural gas customers spanning more than 300 urban, suburban, and rural communities. The company serves the entire spectrum from individual homeowners to large industrial facilities and data centers. As a regulated utility, PSEG is required to serve all customers within its designated service territory.

### When was PSEG founded?
PSEG traces its roots to 1903 when the Public Service Corporation was formed by consolidating more than 400 gas, electric, and transportation companies in New Jersey. In 1928, the corporation merged its electric and gas utilities into Public Service Electric and Gas Company (PSE&G). The modern Public Service Enterprise Group (PSEG) holding company structure was created in 1985. The company has maintained an unbroken record of annual dividend payments since 1907, spanning over 115 years.

### Where is PSEG based?
PSEG is headquartered in Newark, New Jersey, where it has been based since its founding. The company's primary service territory covers central and northern New Jersey, including major metropolitan areas and suburban communities. PSEG also operates nuclear facilities in South Jersey (Salem and Hope Creek) and maintains partial ownership in nuclear plants in Pennsylvania (Peach Bottom).

### How much has PSEG invested in infrastructure?
PSEG has committed $22.5-26 billion in capital investments between 2025 and 2029, with approximately $4 billion allocated for 2025 alone. In 2024, the company invested $3.6 billion in capital spending. Major recent investments include the Advanced Metering Infrastructure (AMI) program that deployed 2.2 million smart meters (completed 2024), the Clean Energy Future - Energy Efficiency II program with $1.9 billion net investment (2025-2027), and planned offshore wind partnerships targeting 3 GW capacity by 2025.

### What makes PSEG different from other utilities?
PSEG differentiates itself through several key factors: (1) Its bold clean energy commitment, having sold its entire 6,750-MW fossil fuel portfolio in 2021 and targeting net-zero carbon emissions by 2030, (2) Operation of the third-largest nuclear facility in the U.S., providing 40% of New Jersey's electricity and 85% of its carbon-free power, (3) 17 consecutive years on the Dow Jones Sustainability North America Index, (4) 20 consecutive years of meeting or exceeding earnings guidance through 2024, and (5) Over 115 years of uninterrupted dividend payments since 1907, demonstrating exceptional financial stability.

### Who are PSEG's main competitors?
PSEG's primary competitors vary by business segment. In New Jersey's regulated utility space, other electric distribution utilities include Atlantic City Electric, Jersey Central Power & Light (JCP&L), and Rockland Electric. However, PSE&G is by far the largest, serving over half of New Jersey's residential electric customers. Since New Jersey deregulated energy supply in 1999, PSE&G also faces competition from third-party retail electricity suppliers including Constellation Energy and Direct Energy. Nationally, PSEG competes with other major utilities including Duke Energy, FirstEnergy, and American Electric Power (AEP).

### How can I contact PSEG?
Customers can contact PSE&G through multiple channels: visit the main website at www.pseg.com or nj.pseg.com for residential customers, call the business customer service line at 855-BIZ-PSEG (855-249-7734), use online account management for bill payment and service requests, or report outages through the website or mobile app. PSEG's corporate headquarters is located in Newark, New Jersey. Investor relations can be reached through investor.pseg.com.

### Is PSEG hiring?
Yes, PSEG employs over 12,000 people and regularly recruits across various disciplines including engineering, operations, customer service, technology, finance, and corporate functions. The company emphasizes safety culture, diversity and inclusion, and professional development opportunities. Career opportunities can be found at jobs.pseg.com, with positions available across New Jersey and at nuclear facilities. PSEG is particularly focused on hiring skilled workers for grid modernization, clean energy initiatives, and nuclear operations.

### What's the latest news about PSEG?
Recent 2024-2025 developments include: (1) PSEG reported full-year 2024 non-GAAP operating earnings of $3.68 per share, marking the 20th consecutive year of meeting or exceeding guidance, (2) The company raised 2025 earnings guidance to $3.94-$4.06 per share (~9% growth), (3) The New Jersey BPU approved the Clean Energy Future - Energy Efficiency II program with $1.9 billion investment (2025-2027), (4) PSEG completed deployment of 2.2 million smart meters in 2024, enhancing grid efficiency, and (5) PSE&G reduced gas bills by ~5% effective October 2024, benefiting residential customers.

### What is PSEG's market position?
PSEG is New Jersey's oldest and largest investor-owned utility, serving 2.4 million electric customers and 1.9 million gas customers—over half of the state's residential customers. The company is ranked #359 on the Fortune 500 (2024) and operates the third-largest nuclear generating facility in the United States. PSEG's nuclear fleet generates approximately 40% of New Jersey's electricity and 85% of the state's carbon-free power. The company has appeared on the Dow Jones Sustainability North America Index for 17 consecutive years, positioning it as a sustainability leader in the utility sector.

### What are PSEG's future plans?
PSEG's strategic priorities include: (1) Infrastructure modernization with $22.5-26 billion capital investment through 2029, (2) Advancing toward net-zero carbon emissions by 2030, (3) Supporting growing electricity demand from electrification and data centers—the large load pipeline jumped to 4.7 GW as of early 2025, (4) Offshore wind development targeting 3 GW capacity by 2025 through partnerships with Ørsted, (5) Battery storage deployment including a planned 200-MW facility in Somerset County ($350M investment), (6) Continued nuclear license renewal efforts to extend clean baseload generation, and (7) Enhanced customer experience through digital transformation and grid modernization.

## Tags

b2b, b2c, energy, infrastructure, public

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*