Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company. The company’s operations are located primarily in the Northeastern and Mid- Atlantic United States. Subsidiaries and Operations The company’s principal direct operating subsidiaries include PSEG Power LLC (Power) and Public Service Electric and Gas Company (PSE&G). Its other direct wholly owned subsidiaries are: PSEG Energy Holdings L.L.C. (Energy Holdings), which earns its revenues primarily from its portfolio of lease investments; PSEG Long Island LLC (PSEG LI), which operates the Long Island Power Authority's (LIPA) transmission and distribution (T&D) system under a contractual agreement; and PSEG Services Corporation (Services), which provides it and its operating subsidiaries with certain management, administrative and general services at cost. PSE&G The company’s regulated transmission and distribution public utility, PSE&G, distributes electric energy and gas to customers within a designated service territory running diagonally across New Jersey. The company’s utility operations primarily earn margins through the transmission and distribution of electricity and the distribution of gas. Transmission: The movement of electricity at high voltage from generating plants to substations and transformers, where it is then reduced to a lower voltage for distribution to homes, businesses and industrial customers. The company’s revenues for these services are based upon tariffs approved by the Federal Energy Regulatory Commission (FERC). Distribution: The delivery of electricity and gas to the retail customer’s home, business or industrial facility. The company’s revenues for these services are based upon tariffs approved by the New Jersey Board of Public Utilities (BPU). Energy Holdings Energy Holdings has investments in leveraged leases. The company’s other direct wholly owned subsidiaries include PSEG Long Island LLC (PSEG LI), which, effective January 1, 2014, operates the Long Island Power Authority's (LIPA) transmission and distribution (T&D) system under a 12-year Amended and Restated Operations Services Agreement (OSA); and PSEG Services Corporation (Services), which provides certain management, administrative and general services to PSEG and its subsidiaries at cost. The company is a transmission owner in PJM Interconnection, L.L.C. (PJM) and provides distribution service to 2.2 million electric customers and 1.8 million gas customers in a service area that covers approximately 2,600 square miles running diagonally across New Jersey. Transmission In 2015, the company completed the final phase of its portion of the 500 kV Susquehanna-Roseland project, bolstering electric reliability by partnering with PPL Electric Utilities (PPL) to construct a 150 mile power line between PPL's nuclear switchyard in Susquehanna, Pennsylvania and its switchyard in Roseland, New Jersey, and its Mickleton-Gloucester-Camden project which consisted of upgrading 10 circuit miles of overhead transmission, installing approximately 16 underground circuit miles and 10 overhead circuit miles of new 230 kilovolt (kV) and modifications/upgrades at five existing stations. Distribution PSE&G distributes gas and electricity to end users in the company’s respective franchised service territories. The company’s Solar Loan Program provides solar system financing to its residential and commercial customers. Its Solar 4 All Programs invest in utility-owned solar photovoltaic (PV) centralized solar systems installed on PSE&G property and third party sites, including landfill facilities, and solar panels installed on distribution system poles in its electric service territory. The company sells the energy and capacity from the systems in the PJM wholesale electricity market. In addition, it sells SRECs generated by the projects through the same periodic auction used in the loan program, the proceeds of which are used to offset program costs. Power The company uses the generation the company owns combined with commodity contracts and financial instruments to cover its commitments for BGS in New Jersey and o
public service enterprise gp
80 Park Plaza
PO Box 1171
Newark, NJ 07101
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