PEG - Public Service Enterprise Group Inc

PSEG, incorporated in New Jersey in 1985, operates primarily through two subsidiaries, PSE&G and PSEG Power, focusing on electric and gas distribution as well as nuclear energy generation. PSE&G is a regulated utility providing electricity and gas to approximately 6.8 million residents in New Jersey. It also engages in energy efficiency projects and renewable energy investments, particularly in solar energy. PSEG Power, on the other hand, capitalizes on its nuclear generation assets and sells power through various market channels, including energy markets in the PJM Interconnection region.

The company has streamlined its business model by divesting from its fossil fuel generation portfolio in 2022, which enables a greater focus on renewable resources and nuclear power. Its future strategy emphasizes operational excellence, regulatory compliance, and infrastructure improvements to adapt to evolving energy demands, including the increasing adoption of electric vehicles and investment in clean energy technologies, positioning itself favorably in the energy transition landscape.