PSEG is a New Jersey-based energy holding company whose businesses include regulated electric and gas utility operations and nuclear generation.
Last updated November 4, 2026
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Overview
PSEG, formally Public Service Enterprise Group Incorporated, is an American energy holding company headquartered in Newark, New Jersey. Its principal operating utility is Public Service Electric and Gas Company, commonly known as PSE&G, the regulated electric and natural-gas utility serving much of New Jersey. The group also operates PSEG Power, a generation business whose portfolio includes the Salem and Hope Creek nuclear generating stations in New Jersey, as well as other generation and energy-market activities. The company is rooted in the history of Public Service Corporation of New Jersey, which was incorporated in the early twentieth century to develop electric, gas, and transit infrastructure. The modern holding-company structure was created in 1985, when Public Service Enterprise Group became the parent organization for the utility and related businesses. PSE&G remains a regulated utility, while PSEG's generation activities operate in competitive power markets. This separation gives the group exposure to both regulated infrastructure returns and wholesale electricity-market conditions. PSEG's nuclear operations are strategically important to its identity and to New Jersey's electricity system. The Salem and Hope Creek stations provide large-scale, around-the-clock generation and are part of the state's zero-carbon electricity supply. PSEG has supported continued operation of these plants through license extensions, capital investment, and participation in state and federal policy programs intended to recognize the reliability and emissions benefits of existing nuclear generation. The company has also framed nuclear energy as a complement to renewable-energy deployment and grid decarbonization. PSE&G's business covers electric distribution, gas distribution, transmission-related infrastructure, customer service, and energy-efficiency programs. Its New Jersey service territory includes residential, commercial, and industrial customers, although the utility does not serve every customer in the state. PSE&G has invested in storm hardening, grid modernization, gas-system replacement, electric-vehicle infrastructure, energy efficiency, and programs intended to reduce emissions from buildings and transportation. These programs have often been undertaken through filings and approvals before the New Jersey Board of Public Utilities. PSEG is a publicly traded company on the New York Stock Exchange under the ticker PEG. It is not the same entity as PSE&G: PSEG is the corporate parent, while PSE&G is its regulated utility subsidiary. The group has generally been positioned as a regional utility and power company rather than a consumer-facing international brand. Its current strategic themes include reliability, system resilience, electrification, nuclear preservation, renewable integration, and long-term decarbonization. The company continues to be primarily associated with New Jersey's energy infrastructure and with the operation of the Salem and Hope Creek nuclear plants.
History
PSEG's history is derived from the development of Public Service Corporation of New Jersey and the state's electric and gas infrastructure. Public Service Corporation was incorporated in 1903 and expanded through the construction and acquisition of utility systems, becoming a major provider of electricity, gas, and related services in New Jersey. Over time, its utility operations were consolidated under Public Service Electric and Gas Company, or PSE&G. In 1985, Public Service Enterprise Group was established as a holding company. The restructuring separated the corporate parent from its principal operating businesses and created the framework under which PSE&G and generation-related activities could be managed within a broader energy group. PSEG subsequently developed or acquired power-generation assets and became involved in wholesale electricity markets in addition to its regulated utility base. Nuclear power became a defining part of the group's generation portfolio. PSEG Power operates the Salem and Hope Creek nuclear facilities in Lower Alloways Creek Township, New Jersey. Salem's two units began commercial operation in the 1970s, while Hope Creek entered commercial operation in the 1980s. The stations became important sources of baseload electricity for the Mid-Atlantic region and major employers and economic assets in southern New Jersey. PSEG's utility and generation businesses have faced different regulatory and commercial conditions. PSE&G operates under state regulation and recovers approved infrastructure and program costs through regulatory proceedings. PSEG Power sells electricity into competitive markets and is exposed to wholesale prices, fuel costs, plant performance, capacity-market rules, and environmental policy. The company has periodically adjusted its portfolio in response to those conditions, including investments in generation efficiency, transmission, resilience, and clean-energy technologies. In the 2010s, PSEG increasingly emphasized grid modernization, storm resilience, energy efficiency, electrification, and the preservation of existing nuclear plants. Severe weather events in New Jersey reinforced the importance of hardening utility infrastructure. At the same time, low wholesale power prices and changing market rules created financial pressure for nuclear generators. New Jersey's 2018 Zero Emission Certificate program recognized the emissions and reliability attributes of qualifying nuclear plants and supported the continued operation of Salem and Hope Creek. PSE&G also expanded its role in state decarbonization initiatives. Its Clean Energy Future programs were designed to encourage energy efficiency, electric-vehicle adoption, demand management, and distributed energy resources while modernizing the utility system. These plans required review and approval by the New Jersey Board of Public Utilities, reflecting the regulated character of the utility business. Ralph Izzo led PSEG for much of the company's modern sustainability and infrastructure-focused period, becoming chairman and chief executive in 2007. In 2022, Ralph LaRossa succeeded him as president and chief executive. LaRossa had spent his career within the PSEG organization and previously led PSE&G. Under the current leadership, the group continues to present itself as a regional energy-infrastructure company focused on reliability, resilience, nuclear generation, electrification, and lower-carbon power. PSEG remains publicly traded under PEG, while PSE&G continues as its regulated New Jersey utility subsidiary.
- 2022
Ralph LaRossa becomes chief executive
[7]Ralph LaRossa succeeded Ralph Izzo as president and chief executive officer.
- 2018
New Jersey adopts nuclear zero-emission support
[5]New Jersey created a Zero Emission Certificate program supporting qualifying existing nuclear facilities, including PSEG's Salem and Hope Creek plants.
- 2007
Ralph Izzo becomes chief executive
[2]Ralph Izzo became chairman and chief executive of PSEG.
- 1986
Hope Creek enters commercial operation
[4]Hope Creek began commercial operation, adding a major boiling-water nuclear unit to PSEG's New Jersey generation portfolio.
- 1985
PSEG holding-company structure created
[1]Public Service Enterprise Group was formed as the holding company for PSE&G and related energy businesses.
- 1976
Salem Unit 1 enters commercial operation
[3]The first unit of the Salem nuclear station began commercial operation in New Jersey.
- 1903
Public Service Corporation incorporated
[1]Public Service Corporation of New Jersey was incorporated, establishing the corporate roots from which the modern PSEG group developed.
Products and positioning
A New Jersey-focused energy infrastructure group combining a regulated utility with competitive generation, with nuclear power, reliability, resilience, and decarbonization at the center of its strategic positioning.
Regulated electricity distribution
PSE&G electric service
PSE&G distributes electricity to residential, commercial, and industrial customers across its New Jersey service territory. The business includes distribution-system operations, customer connections, metering, outage response, storm hardening, and grid-modernization investment under New Jersey regulation.
Regulated natural-gas distribution
PSE&G natural-gas service
PSE&G provides regulated natural-gas distribution and related customer services in New Jersey. Its infrastructure activities include gas-main replacement, system integrity work, reliability improvements, and connections for residential and business customers.
Nuclear generation · 1976
Salem Nuclear Power Plant
Salem is a two-unit pressurized-water nuclear generating station in southern New Jersey. It is operated by PSEG Power and supplies large-scale zero-emissions electricity to the regional power system, subject to federal nuclear regulation and market conditions.
Nuclear generation · 1986
Hope Creek Generating Station
Hope Creek is a boiling-water nuclear generating station located near the Salem plant. It entered commercial operation in the 1980s and remains part of PSEG Power's nuclear portfolio and New Jersey's low-carbon generation base.
Energy efficiency and electrification · 2018
Clean Energy Future programs
PSE&G's Clean Energy Future portfolio includes energy-efficiency measures, electric-vehicle programs, demand management, distributed-energy resources, and related infrastructure intended to reduce emissions and prepare the distribution grid for electrification.
Marketing campaigns
- 2018PSE&G Clean Energy Future
New Jersey
PSE&G proposed and obtained regulatory approval for a major package of energy-efficiency, electric-vehicle, distributed-energy, and grid-modernization programs.
Outcome. The New Jersey Board of Public Utilities approved the program portfolio, allowing staged implementation through regulated utility investment.
Brand decisions
2018
Support continued operation of Salem and Hope CreekStrategyBackground
Existing nuclear plants faced pressure from low wholesale electricity prices even though they provided dispatchable, low-carbon generation and grid reliability.
Action taken
PSEG supported New Jersey's Zero Emission Certificate framework and continued operating and investing in its two nuclear stations.
Aftermath
The state program provided policy support for continued operation of qualifying nuclear facilities, including Salem and Hope Creek.
2018
Invest in Clean Energy Future programsStrategyBackground
New Jersey sought to reduce emissions and prepare the electric system for efficiency improvements, transportation electrification, and distributed energy.
Action taken
PSE&G submitted a broad regulated investment plan covering efficiency, electric vehicles, demand response, distributed resources, and grid modernization.
Aftermath
The New Jersey Board of Public Utilities approved the portfolio for implementation under utility oversight.
1985
Create a holding-company structureStrategyBackground
The Public Service organization needed a corporate structure capable of managing regulated utility operations alongside competitive energy businesses.
Action taken
Public Service Enterprise Group was established as the parent organization for PSE&G and related businesses.
Aftermath
The structure remains the basis for separating PSE&G's regulated utility activities from PSEG's competitive generation operations.
Recent events
Reported
PSEG reports Q3 revenue decline and maintains 2026 guidance[8]
PSEG reported that its Q3 revenue fell and that it maintained its 2026 guidance.
Reported
PSE&G launches GridSmart Battery Program residential battery storage pilot[9]
PSE&G launched the GridSmart Battery Program, a residential battery storage pilot offering a $5,000 incentive toward qualifying home battery systems and up to $25,000 in interest-free on-bill repayment, as part of its residential Virtual Power Plant pilot in New Jersey.
Reported
PSEG appoints Scott Jennings president and COO of PSEG Long Island[10]
PSEG named Scott Jennings, a company veteran since 1998, as permanent president and chief operating officer of its Long Island operation, succeeding interim leader Dave Lyons, who is retiring. PSEG also named John Latka senior vice president of electric operations for its New Jersey utility and PSEG Long Island.
Reported
PSEG agrees to sell its fossil generation portfolio[11]
Public Service Enterprise Group agreed to sell its fossil generation portfolio, comprising 13 generation units in New Jersey, Connecticut, Maryland and New York, to units of ArcLight Energy Partners Fund VII for approximately $1.92 billion.
Reported
PSEG announces donation of 50,000 respirator masks[12]
PSEG announced that it was donating 50,000 N95 respirator masks to a large New Jersey health care system amid the COVID-19 pandemic.
Sources12 sources
- 1PSEG company overviewpseg.com
- 2PSEG investor relations managementinvestor.pseg.com
- 3U.S. Nuclear Regulatory Commission: Salemnrc.gov
- 4U.S. Nuclear Regulatory Commission: Hope Creeknrc.gov
- 5New Jersey Board of Public Utilities: Zero Emission Certificatesnj.gov
- 6New Jersey Board of Public Utilities: Clean Energy Futurenj.gov
- 7Ralph LaRossa becomes chief executiveinvestor.pseg.com
- 8PSEG公布第三季度收入下降并维持2026年业绩指引news.google.com
- 9PSE&G推出GridSmart电池计划住宅储能试点prnewswire.com
- 10PSEG任命Scott Jennings为PSEG长岛总裁兼首席运营官newsday.com
- 11PSEG同意出售其化石能源发电资产组合finanznachrichten.de
- 12PSEG宣布捐赠5万只呼吸器口罩abc7ny.com
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