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Public Service Enterprise Group 
Energy / Energy and utility services
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Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company headquartered in Newark, New Jersey. PSEG operates primarily in the Northeastern and Midwestern United States, with a focus on electric and gas utility operations. The company was formed in 1985 as a result of the merger between Public Service Electric and Gas Company (PSE&G) and New Jersey Power & Light Company (NJPL).
PSEG's electricity segment operates primarily through PSE&G, which serves nearly three-quarters of the state's population in New Jersey. The company also has a power generation segment, which owns and operates a diverse fleet of power plants using nuclear, natural gas, solar, coal, and oil as fuel sources. Additionally, PSEG has a competitive energy supply and services segment, which provides energy-related products and services to various customers, including homeowners, businesses, and government entities.
PSEG has a strong commitment to sustainability and has set a goal to achieve net-zero carbon emissions by 2050. The company has already made significant strides in reducing its carbon footprint, with more than half of its energy production coming from carbon-free sources.
PSEG also has a strong focus on community involvement and has established various programs to support education, environmental conservation, and economic development in the communities it serves. The company also actively encourages and supports its employees' volunteer efforts and charitable giving.
PSEG has been recognized for its sustainable practices and community involvement, receiving numerous awards and accolades, including being named one of the World's Most Ethical Companies by Ethisphere Institute for 14 consecutive years.
PSEG's electricity segment operates primarily through PSE&G, which serves nearly three-quarters of the state's population in New Jersey. The company also has a power generation segment, which owns and operates a diverse fleet of power plants using nuclear, natural gas, solar, coal, and oil as fuel sources. Additionally, PSEG has a competitive energy supply and services segment, which provides energy-related products and services to various customers, including homeowners, businesses, and government entities.
PSEG has a strong commitment to sustainability and has set a goal to achieve net-zero carbon emissions by 2050. The company has already made significant strides in reducing its carbon footprint, with more than half of its energy production coming from carbon-free sources.
PSEG also has a strong focus on community involvement and has established various programs to support education, environmental conservation, and economic development in the communities it serves. The company also actively encourages and supports its employees' volunteer efforts and charitable giving.
PSEG has been recognized for its sustainable practices and community involvement, receiving numerous awards and accolades, including being named one of the World's Most Ethical Companies by Ethisphere Institute for 14 consecutive years.
What is special about the company?
1. Diverse Portfolio: Public Service Enterprise Group (PSEG) has a diverse portfolio, with a mix of regulated and non-regulated businesses. This includes utility services, power generation, and energy trading.
2. Clean Energy Focus: PSEG has a strong focus on clean energy, with a commitment to reduce its carbon emissions and expand its renewable energy portfolio. It was ranked as one of the greenest companies in the U.S. by Newsweek in 2020.
3. Strong Financial Performance: PSEG has consistently delivered strong financial results, with a solid credit rating and stable earnings. This demonstrates the company's financial stability and ability to weather economic downturns.
4. Customer-Centric Approach: PSEG has a customer-centric approach, with a focus on providing reliable, affordable, and sustainable energy solutions to its customers. It has also implemented various programs to assist customers with their energy bills.
5. Commitment to Innovation: PSEG is committed to innovation and investing in new technologies to improve its operations and provide customers with more efficient and environmentally friendly energy options.
6. Social Responsibility: PSEG is dedicated to being a socially responsible company, with initiatives focused on diversity and inclusivity, community engagement, and employee well-being.
7. Industry Recognition: PSEG has received numerous awards and recognition for its leadership in the energy industry, including being named one of the World's Most Ethical Companies by the Ethisphere Institute and a Top Company for Diversity by DiversityInc.
8. Strong Corporate Governance: PSEG has a strong corporate governance structure, with a diverse and experienced board of directors and a robust code of ethics. This ensures the company operates with integrity and accountability.
9. Commitment to Employee Development: PSEG prioritizes the development and well-being of its employees, offering various training and development programs, competitive benefits, and a safe working environment.
10. Environmental Stewardship: PSEG has a strong commitment to environmental stewardship, including reducing and managing its carbon footprint, investing in renewable energy, and promoting sustainable practices throughout its operations.
2. Clean Energy Focus: PSEG has a strong focus on clean energy, with a commitment to reduce its carbon emissions and expand its renewable energy portfolio. It was ranked as one of the greenest companies in the U.S. by Newsweek in 2020.
3. Strong Financial Performance: PSEG has consistently delivered strong financial results, with a solid credit rating and stable earnings. This demonstrates the company's financial stability and ability to weather economic downturns.
4. Customer-Centric Approach: PSEG has a customer-centric approach, with a focus on providing reliable, affordable, and sustainable energy solutions to its customers. It has also implemented various programs to assist customers with their energy bills.
5. Commitment to Innovation: PSEG is committed to innovation and investing in new technologies to improve its operations and provide customers with more efficient and environmentally friendly energy options.
6. Social Responsibility: PSEG is dedicated to being a socially responsible company, with initiatives focused on diversity and inclusivity, community engagement, and employee well-being.
7. Industry Recognition: PSEG has received numerous awards and recognition for its leadership in the energy industry, including being named one of the World's Most Ethical Companies by the Ethisphere Institute and a Top Company for Diversity by DiversityInc.
8. Strong Corporate Governance: PSEG has a strong corporate governance structure, with a diverse and experienced board of directors and a robust code of ethics. This ensures the company operates with integrity and accountability.
9. Commitment to Employee Development: PSEG prioritizes the development and well-being of its employees, offering various training and development programs, competitive benefits, and a safe working environment.
10. Environmental Stewardship: PSEG has a strong commitment to environmental stewardship, including reducing and managing its carbon footprint, investing in renewable energy, and promoting sustainable practices throughout its operations.
What the company's business model?
Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company. Its business model is focused on providing safe, reliable, and affordable energy, and delivering sustainable value to its customers, shareholders, employees, and communities.
PSEG operates in three main business segments:
1. PSE&G (Public Service Electric and Gas):
This segment is responsible for the delivery of electricity and natural gas to over 2.3 million customers in New Jersey. PSE&G also operates and maintains the local energy infrastructure, including transmission and distribution lines, substations, and power plants.
2. PSEG Power:
PSEG Power is a wholesale energy supply company, generating and selling electricity in competitive markets. It operates a diverse portfolio of fossil, nuclear, and renewable energy plants, with a total generating capacity of over 13,000 megawatts.
3. PSEG Long Island:
Through a subsidiary, PSEG Long Island, the company provides electricity to over 1.1 million customers in Long Island and the Rockaways in New York.
PSEG's business model is also centered on sustainability and innovation. The company has set ambitious environmental goals, including reducing carbon emissions and increasing the use of renewable energy sources. It also invests in innovative technologies and energy infrastructure to enhance the reliability and resilience of its services.
PSEG also has a focus on corporate social responsibility, supporting economic development, education, and community programs in the regions it serves. Overall, PSEG aims to balance the interests of all stakeholders while maintaining its position as a leader in the energy industry.
PSEG operates in three main business segments:
1. PSE&G (Public Service Electric and Gas):
This segment is responsible for the delivery of electricity and natural gas to over 2.3 million customers in New Jersey. PSE&G also operates and maintains the local energy infrastructure, including transmission and distribution lines, substations, and power plants.
2. PSEG Power:
PSEG Power is a wholesale energy supply company, generating and selling electricity in competitive markets. It operates a diverse portfolio of fossil, nuclear, and renewable energy plants, with a total generating capacity of over 13,000 megawatts.
3. PSEG Long Island:
Through a subsidiary, PSEG Long Island, the company provides electricity to over 1.1 million customers in Long Island and the Rockaways in New York.
PSEG's business model is also centered on sustainability and innovation. The company has set ambitious environmental goals, including reducing carbon emissions and increasing the use of renewable energy sources. It also invests in innovative technologies and energy infrastructure to enhance the reliability and resilience of its services.
PSEG also has a focus on corporate social responsibility, supporting economic development, education, and community programs in the regions it serves. Overall, PSEG aims to balance the interests of all stakeholders while maintaining its position as a leader in the energy industry.
Interesting facts about the company
1) The Public Service Enterprise Group (PSEG) is a Fortune 500 company that provides energy and utility services to millions of customers in New Jersey and surrounding areas.
2) PSEG was founded in 1903 as the Public Service Corporation of New Jersey and was one of the first electric companies in the United States.
3) The company’s headquarters are located in Newark, New Jersey, and they have around 12,000 employees.
4) PSEG is the largest provider of electric and gas service in New Jersey, serving more than 3.7 million electric customers and 2.1 million gas customers.
5) In addition to providing energy services, PSEG is also a major player in the renewable energy industry, investing in projects such as offshore wind farms and solar power.
6) PSEG has been recognized for its commitment to sustainability and has received several awards for its environmental initiatives.
7) PSEG is heavily involved in the communities it serves, supporting numerous charitable organizations and programs.
8) In 2019, PSEG was named one of the World’s Most Ethical Companies by the Ethisphere Institute for the 12th year in a row.
9) PSEG has a diverse workforce, with women making up 45% of their leadership and minorities comprising 41% of their overall workforce.
10) The company’s subsidiary, PSEG Power, is one of the largest independent power producers in the United States, owning and operating over 13,000 megawatts of generating capacity.
See Company Due Diligence:
2) PSEG was founded in 1903 as the Public Service Corporation of New Jersey and was one of the first electric companies in the United States.
3) The company’s headquarters are located in Newark, New Jersey, and they have around 12,000 employees.
4) PSEG is the largest provider of electric and gas service in New Jersey, serving more than 3.7 million electric customers and 2.1 million gas customers.
5) In addition to providing energy services, PSEG is also a major player in the renewable energy industry, investing in projects such as offshore wind farms and solar power.
6) PSEG has been recognized for its commitment to sustainability and has received several awards for its environmental initiatives.
7) PSEG is heavily involved in the communities it serves, supporting numerous charitable organizations and programs.
8) In 2019, PSEG was named one of the World’s Most Ethical Companies by the Ethisphere Institute for the 12th year in a row.
9) PSEG has a diverse workforce, with women making up 45% of their leadership and minorities comprising 41% of their overall workforce.
10) The company’s subsidiary, PSEG Power, is one of the largest independent power producers in the United States, owning and operating over 13,000 megawatts of generating capacity.
See Company Due Diligence:
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