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Izzo Outlines PSEG's Strategy At Annual Meeting

PSEG Power, the company's wholesale energy supply business, generates output from nuclear, gas, coal and oil. That fuel diversity is important, Izzo said, pointing out that the company was able to adapt to low gas prices by running its combined cycle plants more than its coal plants.

PSEG's focus on disciplined investment and a strong balance sheet has supported a long history of paying a common dividend and enabled the recent 2 cent increase in the dividend to $1.44 per share.

Also during 2012, PSEG brought online 400 megawatts of new, clean peaking capacity in New Jersey and Connecticut; PSEG's Hope Creek facility was recognized as one of the top-performing nuclear plants in the country and PSE&G was recognized for the fifth time in eight years as America's most reliable electric utility.

To read Izzo's speech in its entirety, please click here or visit PSEG's "Newsroom" at www.pseg.com.

Forward-Looking Statements The statements contained in this communication about us and our subsidiaries' future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences and all other statements that are not purely historical, are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Although we believe that our expectations are based on information currently available and on reasonable assumptions, we can give no assurance they will be achieved. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. A discussion of some of these risks and uncertainties is contained in our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission (SEC), and available on our website: http://www.pseg.com. These documents address in further detail our business, industry issues and other factors that could cause actual results to differ materially from those indicated in this communication. In addition, any forward-looking statements included herein represent our estimates only as of the date hereof and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even if our internal estimates change, unless otherwise required by applicable securities laws.

Public Service Enterprise Group (NYSE:PEG) is a publicly traded diversified energy company with annual revenues of $9.8 billion, and three principal subsidiaries: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Energy Holdings. For more information, visit www.pseg.com .

Want to know what's new at PSEG? Go to www.pseg.com/getnews and sign up to have our press releases sent right to your inbox.

SOURCE Public Service Enterprise Group (PSEG)

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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