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Public Service Enterprise Group

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BUSINESS
January 28, 2006 | By Jeff Gelles INQUIRER STAFF WRITER
Pennsylvania utility regulators yesterday approved the proposed purchase by Exelon Corp. of New Jersey's Public Service Enterprise Group, unanimously rejecting opposition from competing electricity suppliers, the City of Philadelphia, and the municipally owned Philadelphia Gas Works. The Pennsylvania Public Utility Commission also directed its staff to begin a formal "fact-finding investigation" into the possibility of combining PGW with Exelon Corp.'s suburban natural-gas business.
NEWS
June 24, 2011
Public Service Enterprise Group Inc., Newark, N.J., said today it agreed to sell its Odessa electric generating plant in West Texas for $335 million. The buyer for PSEG's last generating station in Texas is Energy Capital Partners II L.P. PSEG is New Jersey's largest electric and gas utility.    -Paul Schweizer
BUSINESS
November 2, 2006 | By Stacey Burling INQUIRER STAFF WRITER
Public Service Enterprise Group Inc. - fresh off the failure of merger talks with Exelon Corp. - yesterday announced a 48 percent increase in third-quarter profit. The improvement was fueled by higher electricity prices and more efficient electricity production, said Paul Rosengren, a PSEG spokesman. He said the company produced most of its electricity at nuclear and coal-powered plants, while competitors use more expensive gas. Companies that use gas have been raising prices, and PSEG has benefited from that.
NEWS
February 25, 2016 | By Andrew Maykuth, STAFF WRITER
PSEG Solar Source, the solar-energy subsidiary of New Jersey's Public Service Enterprise Group, announced Tuesday that it has acquired a 36-megawatt system in Colorado for $54 million, the third project it has bought this year from solar developer Juwi Inc. The PSEG Larimer Solar Energy Center, to be built on a 290-acre site near Fort Collins, has a 25-year agreement to sell its power to the Platte River Power Authority. The facility, which will use 117,000 solar panels, was originally called Rawhide Flats Solar.
NEWS
January 22, 2016 | By Andrew Maykuth, STAFF WRITER
PSEG Solar Source, the solar-energy subsidiary of New Jersey's Public Service Enterprise Group, acquired projects in California and Utah for $110 million that increase the company's solar capacity to 214.6 megawatts. The company bought two projects from Colorado solar developer Juwi Inc.: a 3.9 MW facility in Livermore, California; and a 62.7 MW project in Millard County, Utah. The California project, to be named PSEG Lawrence Livermore Solar Energy Center, is currently under construction on the grounds of the Lawrence Livermore National Laboratory, about 45 miles east of San Francisco.
BUSINESS
February 19, 2010 | By Andrew Maykuth INQUIRER STAFF WRITER
Public Service Enterprise Group Inc., the New Jersey energy company, yesterday reported $1.6 billion in profit last year, despite what its chief executive officer, Ralph Izzo, called "very challenging" market conditions. PSEG, parent company of Public Service Electric & Gas Co., New Jersey's largest utility, reported a substantial boost in earnings - from $2.34 a share in 2008 to $3.14 a share in 2009. When adjusted for discontinued operations and onetime events, operating earnings increased 3 percent, from $3.03 a share in 2008 to $3.12.
NEWS
July 30, 2010
The parent of Public Service Electric & Gas Co., New Jersey's largest electric utility, said today second-quarter income from continuing operations fell 28 percent - a result, the company said, of the weak economy and low energy prices. Income from continuing operations was $224 million, or 44 cents a share, in the latest quarter compared with $311 million, or 61 cents a share, in last year's second quarter. Total operating earnings for Public Service Enterprise Group Inc., however, rose 4 percent to $331 million, or 65 cents a share.
BUSINESS
December 18, 2004 | By Akweli Parker INQUIRER STAFF WRITER
Shares of Public Service Enterprise Group Inc. recorded their biggest gain in 19 months yesterday after a report was published that Chicago-based Exelon Corp. was in talks to buy the Newark, N.J., utility. The Wall Street Journal's online edition, citing "people familiar with the matter," said yesterday afternoon that a $12 billion merger was imminent, with an announcement possibly coming next week, but also that talks were "delicate. " PSEG shares rose $1.66, or 3.6 percent, to $47.27 yesterday on the New York Stock Exchange.
NEWS
August 4, 2006
It might be cute when a 6-year-old pouts and stamps his feet. Seeing the same behavior from a 6-year-old corporate giant impatient over regulatory approval for a megamerger of local utilities, well, that's decidedly uncute. Exelon Corp. chief John W. Rowe's threat Monday to take his football and go home falls into that category. The chairman of Peco Energy Co.'s parent gave New Jersey regulators a "week or so" to approve Exelon's controversial, $17 billion takeover of New Jersey's major utility, Newark-based Public Service Enterprise Group.
BUSINESS
April 17, 2002 | By Bob Fernandez INQUIRER STAFF WRITER
Public Service Enterprise Group Inc., the Newark, N.J., utility company, reported that the mild winter and weak economy hurt earnings in the first quarter. The company also took a large charge related to an investment in Argentina, which has reeled from a bad economy. PSEG said it earned $180 million, or 87 cents a share, compared with $261 million, or $1.25 a share, in the comparable period a year ago. Sales declined by about $300 million to $2.5 billion for the quarter ended March 31. Analysts said yesterday that the results were slightly worse than they expected, but that the 90-degree weather may help electricity sales in the current quarter.
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NEWS
February 25, 2016 | By Andrew Maykuth, STAFF WRITER
PSEG Solar Source, the solar-energy subsidiary of New Jersey's Public Service Enterprise Group, announced Tuesday that it has acquired a 36-megawatt system in Colorado for $54 million, the third project it has bought this year from solar developer Juwi Inc. The PSEG Larimer Solar Energy Center, to be built on a 290-acre site near Fort Collins, has a 25-year agreement to sell its power to the Platte River Power Authority. The facility, which will use 117,000 solar panels, was originally called Rawhide Flats Solar.
NEWS
January 22, 2016 | By Andrew Maykuth, STAFF WRITER
PSEG Solar Source, the solar-energy subsidiary of New Jersey's Public Service Enterprise Group, acquired projects in California and Utah for $110 million that increase the company's solar capacity to 214.6 megawatts. The company bought two projects from Colorado solar developer Juwi Inc.: a 3.9 MW facility in Livermore, California; and a 62.7 MW project in Millard County, Utah. The California project, to be named PSEG Lawrence Livermore Solar Energy Center, is currently under construction on the grounds of the Lawrence Livermore National Laboratory, about 45 miles east of San Francisco.
NEWS
November 7, 2015 | By Walter F. Naedele, Inquirer Staff Writer
From the late 1990s to 2011, Robert D. Lowden was an instructor in the archery program that his wife, Candace, has run for 30 years for the Collingswood Recreation Department. "Three nights a week, for five weeks in June and July," she said, the Lowdens were instructors "for five classes a night, about 100 students. " The recreational classes, held at Collingswood High School for children and adults, have nothing to do with hunting, she emphasized. But they seemed to be a way through which Mr. Lowden, while holding down a full-time job, found time to help his wife, just as he found time to coach his daughters in other sports.
NEWS
July 6, 2013 | By Tom Johnson, NJ SPOTLIGHT
In a lawsuit with big implications for state utility customers, Public Service Enterprise Group and three of its subsidiaries accused 10 insurance companies of shortchanging them $456 million for damage to their power grid. Insurers say they will cover only $50 million in payouts, arguing that policies restrict reimbursements above that amount in specific flood zones. PSEG and its subsidiaries filed a lawsuit June 18. Utility customers could end up paying the bill to repair the infrastructure if the court upholds the insurance companies' view.
NEWS
June 24, 2011
Public Service Enterprise Group Inc., Newark, N.J., said today it agreed to sell its Odessa electric generating plant in West Texas for $335 million. The buyer for PSEG's last generating station in Texas is Energy Capital Partners II L.P. PSEG is New Jersey's largest electric and gas utility.    -Paul Schweizer
NEWS
July 30, 2010
The parent of Public Service Electric & Gas Co., New Jersey's largest electric utility, said today second-quarter income from continuing operations fell 28 percent - a result, the company said, of the weak economy and low energy prices. Income from continuing operations was $224 million, or 44 cents a share, in the latest quarter compared with $311 million, or 61 cents a share, in last year's second quarter. Total operating earnings for Public Service Enterprise Group Inc., however, rose 4 percent to $331 million, or 65 cents a share.
BUSINESS
February 19, 2010 | By Andrew Maykuth INQUIRER STAFF WRITER
Public Service Enterprise Group Inc., the New Jersey energy company, yesterday reported $1.6 billion in profit last year, despite what its chief executive officer, Ralph Izzo, called "very challenging" market conditions. PSEG, parent company of Public Service Electric & Gas Co., New Jersey's largest utility, reported a substantial boost in earnings - from $2.34 a share in 2008 to $3.14 a share in 2009. When adjusted for discontinued operations and onetime events, operating earnings increased 3 percent, from $3.03 a share in 2008 to $3.12.
BUSINESS
July 22, 2009 | By Andrew Maykuth INQUIRER STAFF WRITER
Exelon Corp. yesterday abandoned efforts to create the nation's largest electricity producer after its proxy battle to take control of power producer NRG Energy Inc. went down to defeat. The Chicago company, which owns Philadelphia's Peco Energy Co., ended its nine-month hostile takeover bid after NRG said that 75 percent of its shareholders had snubbed Exelon's slate of directors. "The NRG shareholders have spoken, and Exelon will move on," Exelon's chief executive, John W. Rowe, said in a statement.
BUSINESS
September 23, 2007 | By Jeff Gelles INQUIRER STAFF WRITER
A year ago, Ralph Izzo was little known outside the executive suites of the power industry. Izzo was a senior executive at Public Service Enterprise Group Inc., which was headed into a $17 billion merger with Chicago's Exelon Corp. Then the deal fell through, and Izzo won what had to look like the booby prize. Last Sept. 25, less than two weeks after the merger collapsed, he was tapped to take over as chief executive officer of PSEG, the Newark, N.J., energy and utility company that, as the deal's junior partner, had been expected to vanish into corporate subsidiary-hood.
BUSINESS
November 2, 2006 | By Stacey Burling INQUIRER STAFF WRITER
Public Service Enterprise Group Inc. - fresh off the failure of merger talks with Exelon Corp. - yesterday announced a 48 percent increase in third-quarter profit. The improvement was fueled by higher electricity prices and more efficient electricity production, said Paul Rosengren, a PSEG spokesman. He said the company produced most of its electricity at nuclear and coal-powered plants, while competitors use more expensive gas. Companies that use gas have been raising prices, and PSEG has benefited from that.
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