Board Of Directors Approves Increase In Quarterly Dividend

          Board Of Directors Approves Increase In Quarterly Dividend

Indicative Annual Dividend Rate Goes to $1.48 Per Share from $1.44 Per Share

PR Newswire

NEWARK, N.J., Feb. 18, 2014

NEWARK, N.J., Feb. 18, 2014 /PRNewswire/ -- The Board of Directors of Public
Service Enterprise Group (NYSE: PEG) today raised the Company's quarterly
common dividend by 2.8%, or $0.01 per outstanding share of the Company's
common stock, to $0.37 per share. The Board declared that the dividend is
payable March 31, 2014 to shareowners of record at the close of business on
March 7, 2014. The ex-dividend date is March 5, 2014.

(Logo: http://photos.prnewswire.com/prnh/20120830/MM62627LOGO )

"We are pleased to be in a position to increase our common dividend," PSEG
chairman, president and chief executive officer Ralph Izzo said. "This latest
increase in the dividend is aligned with the rate of dividend growth we have
provided shareholders over the past five years, and continues PSEG's long
history of paying a common dividend. In addition to investing in long-term
growth opportunities, returning cash to our shareholders remains a top
priority and underscores our commitment to a disciplined approach to capital
allocation. We are also well positioned to provide our investors with the
opportunity for consistent, sustainable growth in the dividend given the
increased contribution to earnings from our more stable, regulated business,
continued positive cash flow from our generation business and a strong balance
sheet."

All future changes in the common dividend are subject to board approval.

FORWARD-LOOKING STATEMENTS

Certain of the matters discussed in this communication about our and our
subsidiaries' future performance, including, without limitation, future
revenues, earnings, strategies, prospects, consequences and all other
statements that are not purely historical constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward- looking statements are subject to risks and
uncertainties, which could cause actual results to differ materially from
those anticipated. Such statements are based on management's beliefs as well
as assumptions made by and information currently available to management.
When used herein, the words "anticipate," "intend," "estimate," "believe,"
"expect," "plan," "should," "hypothetical," "potential," "forecast,"
"project," variations of such words and similar expressions are intended to
identify forward-looking statements. Factors that may cause actual results to
differ are often presented with the forward-looking statements themselves.
Other factors that could cause actual results to differ materially from those
contemplated in any forward-looking statements made by us herein are discussed
in filings we make with the United States Securities and Exchange Commission
(SEC), including our Annual Report on Form 10-K and subsequent reports on Form
10-Q and Form 8-K and available on our website: http://www.pseg.com. These
factors include, but are not limited to:

  oadverse changes in the demand for or the price of the capacity and energy
    that we sell into wholesale electricity markets,
  oadverse changes in energy industry law, policies and regulation, including
    market structures and a potential shift away from competitive markets
    toward subsidized market mechanisms, transmission planning and cost
    allocation rules, including rules regarding how transmission is planned
    and who is permitted to build transmission in the future, and reliability
    standards,
  oany inability of our transmission and distribution businesses to obtain
    adequate and timely rate relief and regulatory approvals from federal and
    state regulators,
  ochanges in federal and state environmental regulations that could increase
    our costs or limit our operations,
  ochanges in nuclear regulation and/or general developments in the nuclear
    power industry, including various impacts from any accidents or incidents
    experienced at our facilities or by others in the industry, that could
    limit operations of our nuclear generating units,
  oactions or activities at one of our nuclear units located on a multi-unit
    site that might adversely affect our ability to continue to operate that
    unit or other units located at the same site,
  oany inability to balance our energy obligations, available supply and
    risks,
  oany deterioration in our credit quality or the credit quality of our
    counterparties, including in our leveraged leases,
  oavailability of capital and credit at commercially reasonable terms and
    conditions and our ability to meet cash needs,
  ochanges in the cost of, or interruption in the supply of, fuel and other
    commodities necessary to the operation of our generating units,
  odelays in receipt of necessary permits and approvals for our construction
    and development activities,
  odelays or unforeseen cost escalations in our construction and development
    activities,
  oany inability to achieve, or continue to sustain, our expected levels of
    operating performance,
  oany equipment failures, accidents, severe weather events or other
    incidents that impact our ability to provide safe and reliable service to
    our customers, and any inability to obtain sufficient coverage or recover
    proceeds of insurance with respect to such events,
  oincreases in competition in energy supply markets as well as competition
    for certain transmission projects,
  oany inability to realize anticipated tax benefits or retain tax credits,
  ochallenges associated with recruitment and/or retention of a qualified
    workforce,
  oadverse performance of our decommissioning and defined benefit plan trust
    fund investments and changes in funding requirements, and
  ochanges in technology, such as distributed generation and micro grids, and
    resultant changes in customer usage patterns, including energy efficiency
    and demand response.

All of the forward-looking statements made in this report are qualified by
these cautionary statements and we cannot assure you that the results or
developments anticipated by management will be realized or even if realized,
will have the expected consequences to, or effects on, us or our business
prospects, financial condition or results of operations. Readers are cautioned
not to place undue reliance on these forward-looking statements in making any
investment decision. Forward-looking statements made in this report apply only
as of the date of this report. While we may elect to update forward-looking
statements from time to time, we specifically disclaim any obligation to do
so, even if internal estimates change, unless otherwise required by applicable
securities laws. The forward-looking statements contained in this report are
intended to qualify for the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended.

SOURCE Public Service Enterprise Group (PSEG)

Website: http://www.pseg.com
Contact: Jenn Kramer, 973-430-6027, Jennifer.kramer@pseg.com
 
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