Public service conglomerates: the backbone of the U.S. energy sector

Public Service Enterprise Group (PSEG) is a long-established American energy company that, since its founding in 1903, has been committed to providing reliable, safe, and sustainable electricity and natural gas services to residents and businesses in New Jersey and the surrounding area. As a conglomerate with a broad influence in the energy sector, PSEG not only focuses on traditional energy supply but also actively participates in the clean energy transition and technological innovation, becoming a key player in modernizing the U.S. energy industry.

Headquartered in Newark, New Jersey, PSEG operates across multiple core sectors, including power generation, transmission, distribution, and natural gas supply. Through its three subsidiaries—PSEG Power, PSE&G (Public Service Electricity & Gas), and PSEG Energy Holdings—PSEG has built a comprehensive energy ecosystem, ensuring it can meet the needs of diverse customer groups and provide strong support for regional economic development.

Historical Development and Growth of PSEG

Tracing its origins back to 1903, PSEG began as a small electricity supplier in New Jersey, primarily serving local residents and businesses. With accelerating industrialization and technological advancements, the company gradually expanded its scale and business scope, evolving into a diversified energy enterprise. Over the past century, PSEG has undergone several major transformations and restructurings, including:

• Early Development Phase (1903-1950): During this period, the company focused on the construction and operation of basic power infrastructure, providing essential energy support for the rapid industrialization of New Jersey.
• Expansion and Consolidation Period (1950-1980): During this period, PSEG further consolidated its dominant position in regional markets by acquiring other local power companies, while also beginning to venture into the natural gas supply sector.
• Diversification and Globalization Phase (1980 to present): Faced with an increasingly complex market environment and ever-changing customer needs, PSEG has actively adjusted its strategic direction, focusing on renewable energy development, international market expansion, and the application of digital technologies, striving to create a more efficient and environmentally friendly energy system.

It is worth mentioning that over the past few decades, PSEG has consistently adhered to a customer-centric service philosophy and continuously increased investment in infrastructure development to ensure that its service quality remains at the forefront of the industry. Furthermore, the company actively participates in community welfare activities, fulfilling its social responsibilities and earning high recognition from its users and the wider community.

PSEG's core business segments

PSEG's success is inseparable from its scientifically sound organizational structure and clearly defined professional teams. Currently, the company mainly consists of three key subsidiaries, each undertaking specific responsibilities and playing an irreplaceable role in its respective field:

1. PSEG Power

PSEG Power is responsible for all power generation-related matters for the group, including the construction and operation management of coal-fired power plants, gas-fired power plants, and nuclear power plants. As one of the largest independent power producers in North America, PSEG Power has an installed capacity of over 24,000 megawatts and is actively promoting the implementation of clean energy projects, such as wind farms and solar photovoltaic power plants.

In recent years, in response to global climate change initiatives and to reduce carbon emissions, PSEG Power has increased its investment in the research and development of low-carbon technologies and plans to gradually phase out high-polluting traditional fossil fuel power generation facilities in the coming years, in favor of cleaner and more efficient alternatives.

2. Public Service Electricity and Gas Company (PSE&G)

PSE&G is one of PSEG's most important subsidiaries and the largest utility provider in New Jersey. It is primarily responsible for the transmission and distribution of electricity and natural gas, providing a stable and reliable energy supply to over 2 million electricity customers and nearly 2 million natural gas customers.

In addition to daily operations, PSE&G is committed to improving the intelligence level of the power grid. By deploying advanced sensing devices, data analysis tools and automated control systems, it has achieved rapid fault location and repair, thereby significantly improving power supply reliability and service efficiency.

3. PSEG Energy Holdings

PSEG Energy Holdings focuses on investment management activities aimed at optimizing resource allocation and enhancing the group's overall competitiveness. Specifically, PSEG Energy Holdings is primarily involved in domestic and international energy asset acquisitions, risk assessments, and long-term strategic planning.

With its extensive experience and expertise, PSEG Energy Holdings has successfully helped the Group identify potential growth opportunities and develop practical growth strategies, laying a solid foundation for achieving its sustainability goals.

PSEG's Technological Innovation and Sustainable Development Practices

As a responsible corporate citizen, PSEG understands the importance of environmental protection for future generations and therefore always prioritizes sustainable development. Below are some of the company's outstanding achievements in technological innovation and green transformation:

1. Promote the clean energy transition

PSEG has set an ambitious target to reduce its greenhouse gas emissions by at least 50% by 2030 (compared to the 2005 baseline). To this end, the company is accelerating the deployment of various renewable energy projects, such as offshore wind farms, onshore wind farms, and distributed photovoltaic power generation systems.

In addition, PSEG is actively exploring the application possibilities of energy storage technology, hoping to solve the problem of intermittent energy supply by establishing large-scale battery storage facilities, thereby further improving the flexibility and stability of the power grid.

2. Strengthen the construction of smart grids

Smart grids are considered a crucial component of future energy systems because they can effectively integrate multiple energy forms and enable real-time interaction between supply and demand. Based on this understanding, PSEG has invested heavily in upgrading its existing grid infrastructure and introducing cutting-edge technologies such as the Internet of Things (IoT), big data analytics, and artificial intelligence.

These measures not only help improve user experience but also significantly reduce operation and maintenance costs, while promoting the achievement of energy conservation and emission reduction goals.

3. Improve energy efficiency management level

To help customers better control their energy consumption, PSEG offers a range of energy-saving programs and services, such as home energy audits, smart thermostat installations, and LED lighting retrofits. These measures allow users to better understand their electricity usage habits and take appropriate action to reduce waste.

At the same time, PSEG also encourages employees to actively participate in energy conservation and emission reduction activities, and has established a special reward fund to recognize outstanding performers, creating a strong environmental protection atmosphere.

PSEG's social responsibility and public welfare contributions

In addition to its business operations, PSEG also places great importance on fulfilling its social responsibilities and gives back to the community in various ways. For example:

• Educational support: PSEG has established several scholarship programs specifically to support young people who aspire to engage in research in the energy and related fields; at the same time, the company has also established partnerships with many universities to jointly conduct research projects and technical training courses.
• Disaster relief: Whenever a natural disaster occurs, PSEG quickly organizes professional teams to go to the disaster area to carry out emergency repairs and restore normal life in the affected areas as soon as possible.
• Community Development: PSEG actively participates in various community activities, such as tree planting, river cleanup, and free health check-up days, striving to improve the quality of life for residents.

Through these efforts, PSEG has not only enhanced its brand image but also made a positive contribution to building a harmonious society.

PSEG's official website: www.pseg.com

If you would like to learn more about PSEG, including the latest news, financial reports, career opportunities, and more, please visit their official website: www.pseg.com . The website has a clean and user-friendly design, making it easy for both consumers and industry experts to find information of interest.

In conclusion, PSEG has secured a significant position in the US and global energy industry thanks to its outstanding performance and unwavering commitment to social responsibility. Looking ahead, PSEG will continue to uphold its mission of "creating value for customers and contributing to society," relentlessly pursuing excellence and forging an even brighter future.