January 28, 2006 |
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.
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
November 2, 2006 |
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.
February 19, 2010 |
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.
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.
December 18, 2004 |
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.
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.
April 17, 2002 |
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.
December 1, 2005 |
An administrative law judge recommended yesterday that the Pennsylvania Public Utility Commission put its stamp of approval on Exelon Corp.'s proposed purchase of New Jersey's largest utility company, Public Service Enterprise Group Inc. The PUC is one of about a dozen state and federal agencies that must approve the deal, an all-stock transaction that was valued at $12.5 billion when it was announced last December. If it passes all the hurdles, the companies hope to complete the merger by the middle of next year.
June 18, 1997 |
Facing the loss of its electric monopoly, Peco Energy Co. is opening a kind of 7-Eleven for commercial and industrial customers, offering everything from energy consulting to sign-making and laboratory analysis. Peco's "Customized Energy Solutions," will be a "one-stop shop" to help clients improve their energy efficiency and subcontract functions outside their main businesses, Damian A. Thomas, vice president for marketing and sales, said yesterday.. CES will offer financing and performance guarantees for energy-saving improvements, along with a network of subcontractors to provide maintenance, installation and other services.