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Public Service Enterprise Group (PSEG) is a publicly traded energy company. The company was established in 1985 but has roots that trace back to 1903 to the Public Service Corporation. It was formed by combing more than 400 electric, gas, and transportation companies in New Jersey. During the year 1928, the company merged their gas and electric utilities into a company named PSE&G which is their largest subsidiarity and stands for Public Service Electric and Gas Company. Within that same year in 1928 the subsidiary Public Service Coordinated Transport was formed as a umbrella for the transit business. Other subsidiaries include PSEG Long Island and PSEG Power.
Did you know?
PSEG is headquartered in Neward, New Jersey and serves 2.3 million electric customers and 1.9 million gas customers. The company established the Enterprise Diversified Holdings Inc., now PSEG Energy Holdings was created to begin consolidation of unregulated businesses. PSEG spilt PSE&G subsidiary’s unregulated national power generation assets in order to form PSEG Power. In June 2005, PSEG was almost acquired by the utility conglomerate, Exelon but it did not win state regulatory approval from the New Jersey Board of Public Utilities. In 2009 the company began installing solar panels on approximately 200,000 utility poles which is known as the largest such project in the world.
Final Company Statement:
PSEG’s vision is to power future where people use less energy, where its cleaner, safer and delivered reliably. Their mission is to be a positive force in an ever chaining world by providing infrastructure to access safe, reliable, cleaner, and affordable energy. The company’s core commitments include integrity, continuous improvement, safety, customer service, and diversity, equity, and inclusion. PSEG prides themselves on keeping their customers at the heart of everything they do and for being accountable for their customers needs. They also strive to create an environment with an inclusive culture that respects others ways of thinking, perspectives, and experiences.