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Public Service Enterprise Group's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Turning my attention to the utility. PSE&G's execution on its capital investment program, as it maintains a focus on meeting needs of its customers, is providing a growing source of earnings. PSE&G received good news in March from the National Park Service that identified our route for the Susquehanna-Roseland transmission line as its preferred alternative for the portion of the line that runs through the Delaware Water Gap Recreational Area. This is the route that was approved by state regulators, including the New Jersey Board of Public Utilities. A final decision is expected by October of this year.

This $790 million dollar project is scheduled to enter service in June 2015. We are awaiting the BPU's approval for the $390 million North Central transmission line. This line is scheduled to enter service in 2014. Over the next 3 years, PSE&G plans to invest $5.4 billion on transmission, as well as energy efficiency, solar power and upgrading the reliability of the distribution system. In addition to the obvious customer and shareholder benefits, these capital programs will provide important jobs and support the state's economy. PSEG Power is adding 270 megawatts of new peaking capacity at its Kearny station in June 2012, in place of older, less efficient capacity that it will retire. It will also be adding 130 megawatts of new peaking capacity in Connecticut.

Read the rest of this transcript for free on seekingalpha.com

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