Independent Power and Renewable Electricity Producers
Company Overview of PSEG Power LLC
PSEG Power LLC operates as a wholesale energy supply company primarily in the Northeast and Mid-Atlantic United States. The company integrates the operations of its merchant nuclear and fossil generating assets with its wholesale power marketing businesses through energy sales in energy markets and fuel supply functions. It offers a range of products and services, including energy, capacity, ancillary services, and congestion and renewable energy credits to utilities; and other power marketers, such as retail energy providers, as well as counterparties in the open market. The company also sells wholesale natural gas. It owns and operates 11,681 megawatts of nuclear and fossil generation faci...
80 Park Plaza, T-25
Newark, NJ 07102
Founded in 1999
Key Executives for PSEG Power LLC
Chairman, Chief Executive Officer, Chairman of PSEG and Chief Executive Officer of PSEG
President, Chief Operating Officer and Director
Chief Financial Officer, Executive Vice President and Director
Chairman of PSEG Long Island LLC, President of Public Service Electric & Gas Company (Pse&g) and Chief Operating Officer of Public Service Electric & Gas Company (Pse&g)
President of PSEG Nuclear and Chief Nuclear Officer of PSEG Nuclear
Compensation as of Fiscal Year 2016.
PSEG Power LLC Key Developments
PSEG Power Seeks To Sell Share In PennEast Pipeline
Mar 9 17
PSEG Power LLC is exploring a sale of its share of the PennEast pipeline. A spokesman for the Newark company acknowledged the discussions, saying it is considering sale of its share believed to be in excess of $100 million, but said it will continue to be a customer of the pipeline when it is built.
PSEG Power LLC Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Full Year 2017
Feb 24 17
PSEG Power LLC announced unaudited earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported operating revenues of $921 million compared to $1,082 million a year ago. Operating loss was $556 million compared to income of $227 million a year ago. Net loss before income taxes was $571 million compared to income of $215 million a year ago. Net loss was $302 million or $0.59 per share compared to income of $149 million or $0.29 per share a year ago. Non GAAP operating earnings was $69 million or $0.13 per share compared to $95 million or $0.19 per share a year ago.
For the full year, the company reported operating revenues of $4,023 million compared to $4,928 million a year ago. Operating income was $13 million compared to $1,430 million a year ago. Net loss before income taxes was $43 million compared to income of $1,367 million a year ago. Net income was $18 million or $0.04 per share compared to income of $856 million or $1.68 per share a year ago. Non GAAP operating earnings was $514 million or $1.01 per share compared to $653 million or $1.29 per share a year ago.
The company's non-GAAP Operating earnings for 2017 are forecast at $435 - $510 million. The forecast represents non-GAAP Adjusted EBITDA for the full year 2017 of $1,080 - $1,210 million.
PSEG Power LLC Announces Management Changes
Feb 16 17
PSEG Power LLC announced the retirement of John Scarlata as vice president of gas supply for PSEG Energy Resources & Trade, or PSEG ER&T. The retirement will be effective March 3, 2017. The company also announced that David F. Caffery has been elected to replace Scarlata as vice president of gas supply, PSEG ER&T, effective March 6, 2017. Caffery has been director of portfolio management and regulatory for PSEG ER&T since March 2007.
Similar Private Companies By Industry
Recent Private Companies Transactions