Determined to avoid electric supply problems that had surfaced in states including California, PSEG Power invested in wholesale markets in both New Jersey and New York, and was dedicated to building additional capacity in its home state to ensure adequate power supplies. The Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company headquartered in Newark, New Jersey and was established in 1985 with a legacy dating back to 1903. The "Email Alerts" link at PNY Split History View All Customer Service Center Locations. All future decisions regarding dividends on the common stock are subject to approval by the Board of Directors. The parent Public Service Corporation was dissolved in 1948 and PSE&G became an independent company, with Public Service Coordinated Transport as a subsidiary. PSE&G is a public utility, which is engaged in the transmission of electricity and distribution of electricity and natural gas in certain areas of New Jersey; and PSEG Power is a multi-regional energy supply company that integrates the operations of its merchant nuclear and fossil generating assets with its power marketing businesses and fuel supply functions through energy sales in energy markets primarily in the Northeast and Mid-Atlantic United States. SO Split History If you or a member of your household rely on electricity to operate life-sustaining equipment, it’s important that you notify us. If you have a general inquiry or wish to request any document, please connect with our Investor Relations team. By 2001, PSEG had successfully transformed itself from a traditional utility to a global energy firm. Along with its domestic operations, PSEG continued its international expansion in the new millennium. Even though the governor appoints five of the nine trustees to serve on the LIPA Board, he cited LIPA's inability to quickly recover from Hurricane Sandy among other incidents. [citation needed], In 2012 and 2013, LIPA and National Grid caught much media criticism in their response to Hurricane Sandy. © 2020 Public Service Enterprise Group Incorporated. October 6, 2020 October 15, 2020; PSEG Foundation to Fund First-of-Its-Kind Police Reform Initiative by Rutgers University Center on Policing .

Below, we examine the compound annual growth rate — CAGR for short — of an investment into Public Service Enterprise Group shares, starting with a $10,000 purchase of PEG, presented on a split-history-adjusted basis factoring in the complete Public Service Enterprise Group stock split history. ", http://www.prnewswire.com/news-releases/pseg-increases-common-stock-dividend-301006798.html. Their plan was successful largely thanks to McCarter, who proved to be a strong, skillful manager, especially capable in the financial and political affairs so critical to a growing regulated utility. The company's subtransmission voltages are 69,000 volts and 26,000 volts. By using hard science. [19] This system operates under an agreement with the Long Island Power Authority, the state agency that owns the system, that went into effect January 1, 2014. E. James Ferland, chairman, president, and CEO since 1986, focused PSEG's efforts on acquiring and forming partnerships with businesses related to the energy industry. It had also started construction of plants in California and Poland, and announced plans to purchase the SAESA group of electric distribution firms in both Chile and Argentina. PSEG Announces 2020 Third Quarter Results, As Hurricane Zeta Approaches New Jersey, PSE&G Prepares, PSEG Nuclear’s Salem Unit 1 Conducts Planned Refueling and Maintenance Outage. NEWARK, N.J., Feb. 18, 2020 /PRNewswire/ -- The Board of Directors of Public Service Enterprise Group (NYSE: PEG) today declared a quarterly common stock dividend for the first quarter of 2020 of $0.49 per share payable on March 31, 2020 to shareholders of record on March 10, 2020. [17], For the former power provider for the Long Island region, see, New York State Energy Research and Development Authority, "Long Island Power Authority Biennial Report", "NYS Authorities Budget Office public benefit corporations list", "LIPA webpage describing the UDSA roles and organization", "Frustrated Long Island residents enter day 12 of no power", "Michael Hervey, COO of LIPA, Resigns After Criticism For Slow Hurricane Sandy Response", "Top LIPA exec, trustee announce resignations", "PSE&G parent company to take over Long Island Power Authority", "LIPA Reform Act hurting customers, state Comptroller Thomas DiNapoli says", "Albany legislation seeks to reform the 2013 LIPA Reform Act", Board on Electric Generation Siting and the Environment, New York state public-benefit corporations, New York State Public Authorities Control Board, Agriculture & New York State Horse Breeding Development Fund, Dormitory Authority of the State of New York, Homeless Housing & Assistance Corporation, New York Local Government Assistance Corporation, New York State Affordable Housing Corporation, New York State Archives Partnership Trust, New York State Energy Research & Development Authority, New York State Environmental Facilities Corporation, New York State Foundation for Science, Technology and Innovation, New York State Housing Trust Fund Corporation, New York State Thoroughbred Breeding and Development Fund Corporation, New York State Urban Development Corporation, State of New York Municipal Bond Bank Agency, New York State Theatre Institute Corporation, Capital District Transportation Authority, Central New York Regional Transportation Authority, Development Authority of the North Country, Hudson River-Black River Regulating District, Hugh L. Carey Battery Park City Authority, Municipal Assistance Corporation for the City of NY, Municipal Assistance Corporation for the City of Troy, Nelson A. Rockefeller Empire State Plaza Performing Arts Readers are cautioned not to place undue reliance on these forward-looking statements in making any investment decision. The company pioneered the development and use of gas-electric streetcars and buses, and in 1937 began operating the world's first diesel-electric bus fleet. Both projects proved to be impractical because of cost, but gas sales continued to increase, reaching 200 billion cubic feet annually by the late 1970s. In 1994, the firm's Community Energy Alternatives Inc. (CEA) subsidiary began a joint venture to build, own, and operate a power plant in China--the first U.S. company to do so. By 1998, PSEG had also invested nearly $3 billion in non-regulated businesses, with almost half in international territories including Brazil, the Netherlands, Argentina, and China. Although some got power back within hours of Isaias, some had to wait days for power to be restored. PSE&G joined with Philadelphia Electric Company, Atlantic City Electric Company, and Delmarva Power & Light Company during the 1960s to plan and build nuclear generating facilities. In 1924, the gas and electric businesses were merged to form Public Service Electric and Gas Company(PSE&G), and in 1948, PSC was dissolved and PSE&G became the parent company with the transportation company as a subsidiary.  may be used to enroll to receive automatic email alerts regarding new postings. [7], The Utility Debt Securitization Authority is a separate New York State public-benefit corporation run by a governor-appointed board of trustees that is responsible for LIPA's financial reporting. The firm was also criticized in 1988 because of below average performance of its Salem and Hope Creek facilities. POM Split History With an initial $10 million capitalization to begin its acquisition program, Public Service Corporation of New Jersey (PSC) was incorporated in May 1903. The LIPA management team is headed by Tom Falcone who was appointed CEO in March 2016. Hurry, offer ends November 15! View PSEG's Forward Looking Statement and GAAP disclaimer and Privacy Policy.

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