Overview
Public Service Enterprise Group Incorporated (PSEG) is a U.S. energy holding company whose principal businesses are a regulated electric and natural gas utility and nuclear power generation. Its utility subsidiary, Public Service Electric and Gas Company (PSE&G), transmits and distributes electricity and distributes natural gas in New Jersey. PSEG Power generates nuclear electricity and markets power and natural gas; PSEG Long Island operates a transmission and distribution system on behalf of the Long Island Power Authority.[1][2][3][4]
PSEG’s operations are centered on New Jersey, where PSE&G serves approximately 2.4 million electric and 1.9 million gas customers; its nuclear facilities include sites in New Jersey and Pennsylvania. The company’s core purpose is to provide energy through these utility and generation businesses. Consolidated operating revenue was $12.168 billion in 2025.[5][6][7] [1][2][3][4][5][6][7]
Products & services
Public Service Enterprise Group’s principal services are electric distribution, natural-gas distribution and electric transmission through PSE&G. Its New Jersey networks serve approximately 2.4 million electric customers and 1.9 million gas customers. The electric system spans about 25,000 circuit miles and includes 57 switching stations and 234 substations; the gas system includes roughly 18,000 miles of mains and facilities that provide additional supply during peak demand.[8][9][10][11] In 2024, electric distribution generated $3,977 million, gas distribution $2,059 million and transmission $1,754 million—approximately 39%, 20% and 17%, respectively, of consolidated operating revenue.[12][13]
PSE&G also provides appliance repair services and makes regulated investments in energy efficiency and solar generation. Its installed New Jersey solar capacity was 158 MWdc at year-end 2024.[14][15][16] Through PSEG Power, the company sells electricity, generating capacity and related energy products, as well as wholesale natural gas. Its nuclear generating interests include Hope Creek and Salem, with a combined owned capacity of 3,758 MW; its gas offerings include a contract to meet PSE&G customers’ gas-supply requirements and bilateral sales to other counterparties.[17][18][19] [8][9][9][10][11][12][12][12][13][14][15][16][17][18][19]
Geographic presence
Public Service Enterprise Group is headquartered in Newark, New Jersey. Its principal utility, PSE&G, serves approximately 2.4 million electric customers and 1.9 million gas customers in a roughly 2,600-square-mile territory running diagonally across New Jersey. The territory includes the state’s six largest cities and about 300 suburban and rural communities.[20][21]
Outside PSE&G’s New Jersey service territory, PSEG has nuclear-generation interests at Hope Creek and Salem in New Jersey and Peach Bottom in Pennsylvania. Its generation business sells electricity in the PJM wholesale market. Through PSEG Long Island, the company also operates Long Island, New York’s electric transmission and distribution system under an agreement with the Long Island Power Authority.[22][23][24] [20][21][22][23][24]
Business segments
PSEG reports two business segments: PSE&G and PSEG Power & Other. PSE&G is its regulated New Jersey utility, focused on electric transmission and electric and natural gas distribution, along with related services and investments.[25][26] PSEG Power & Other primarily comprises PSEG Power, whose activities include selling energy and capacity—principally from nuclear generation—and entering into energy- and gas-related contracts. It also includes PSEG LI, Energy Holdings, the parent company and Services.[27][28]
Based on 2025 operating revenues before intersegment eliminations, PSE&G contributed approximately 72% of combined segment revenue and PSEG Power & Other approximately 28%. Their respective shares of consolidated net income were approximately 83% and 17%. The revenue percentages use gross segment figures because transactions between segments are eliminated in the consolidated total.[29] [25][26][27][28][29][29][29][29][29]
Company history
Public Service Electric and Gas Company (PSE&G), the utility that later became a PSEG subsidiary, was incorporated in New Jersey in 1924. Public Service Enterprise Group (PSEG) was incorporated in New Jersey in 1985 as a holding company.[30][31]
As New Jersey restructured its electric-power industry, PSEG Power was formed in 1999. In August 2000, generating assets were transferred from PSE&G to PSEG Power, separating those assets from the utility. PSEG completed the sale of its fossil-fueled generating portfolio in February 2022.[32][33][34] [30][31][32][33][34]
Sources
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