Overview
Public Service Enterprise Group Inc. (PSEG) is a New Jersey-based energy company operating primarily in regulated electric and natural-gas utilities and nuclear power generation. Its principal businesses are PSE&G, which provides electric transmission and electric and gas distribution in New Jersey, and PSEG Power & Other, which includes nuclear generation and wholesale energy activities. PSEG also operates Long Island’s electric transmission and distribution system under contract.[1][2][3][4][5]
PSE&G serves customers across roughly 2,600 square miles in New Jersey, while PSEG’s company-reported scale is approximately 13,000 employees. For fiscal 2025, PSEG reported operating revenue of $12.168 billion. The company’s stated mission includes providing safe, affordable, reliable and cleaner energy, with a vision of making energy use more efficient, safer and more reliable and working toward a carbon-free economy.[6][7][8][9] [1][2][3][4][5][6][7][8][9]
Products & services
Public Service Enterprise Group’s regulated utility, PSE&G, provides electric transmission and distribution and natural-gas distribution in New Jersey. At year-end 2025, it served 2.4 million electric customers and 1.9 million gas customers; annual sales were 40,561 GWh of electricity and 2,633 million therms of firm gas. Its gas system includes approximately 18,000 miles of mains, 54 metering and regulating stations, and peaking facilities with about 2.9 million therms of aggregate peak-day delivery capacity. PSE&G also invests in regulated solar generation and energy-efficiency programs.[10][11][12]
PSEG Power’s competitive offerings include electricity sold through PJM and bilateral contracts, wholesale natural-gas sales and pipeline-capacity transactions, and nuclear generation. In 2025, its nuclear units generated approximately 30.9 TWh at a 91.2% capacity factor; the company also reported extending Hope Creek’s refueling cycle from 18 to 24 months and planning power uprates at Salem Units 1 and 2.[13][14][15][16] PSE&G customer programs include home energy assessments and upgrades, income-eligible weatherization, appliance and HVAC rebates, business efficiency incentives, EV-charger programs, and solar interconnection and net-metering services.[17][18][19][20] [10][11][12][13][14][15][16][17][18][19][20][17][18][19][20]
Geographic presence
As of the 2025 reporting year, Public Service Enterprise Group’s principal regulated utility geography is New Jersey: PSE&G provides electric transmission and distribution and natural-gas distribution in parts of the state, and its property is primarily located there.[10][21] PSE&G’s electric service area spans parts of 13 counties—Bergen, Burlington, Camden, Essex, Gloucester, Hudson, Mercer, Middlesex, Monmouth, Morris, Passaic, Somerset and Union.[22] As of February 2025, PSE&G reported serving 2.4 million electric customers and 1.9 million gas customers.[23]
PSE&G’s New Jersey gas network included approximately 18,000 miles of mains at year-end 2025, supported by 12 distribution headquarters, two sub-headquarters and two meter shops.[12] PSEG’s nuclear facilities include Salem and Hope Creek in Lower Alloways Creek, Salem County, New Jersey, and a part-owned interest in Peach Bottom in Delta, Pennsylvania.[16][24] PSEG Long Island operates Long Island’s electric transmission and distribution system.[23]
PSEG lists its headquarters at 80 Park Plaza, Newark, New Jersey, and reports approximately 13,000 employees companywide; a geographic breakdown of employees was not identified.[25][26] [10][21][22][23][12][16][24][25][26][22][23][24][26]
Business segments
PSEG reports two reportable segments: **PSE&G** and **PSEG Power & Other**. PSE&G provides electric transmission and electric and gas distribution in New Jersey, serving residential, commercial, and industrial customers. Its activities also include energy-efficiency and solar investments, appliance services, and other services.[27] In 2025, PSE&G reported $9.558 billion in operating revenues—about 72% of the two segments’ combined pre-elimination revenues—and $1.745 billion in net income, about 83% of their combined segment net income.[28]
**PSEG Power & Other** is a reportable grouping, not a single operating business: it includes PSEG Power, PSEG LI, Energy Holdings, PSEG parent, and Services. PSEG Power’s primary activities include selling energy and capacity from nuclear generation, wholesale natural gas, and optimizing its generation and gas obligations through energy-related contracts; the grouping also includes PSEG LI’s LIPA-contract revenues and other listed activities.[2][29][30] In 2025, the grouping reported $3.722 billion in operating revenues—about 28% of combined pre-elimination segment revenues—and $366 million in net income, about 17% of combined segment net income.[28] The two segments’ revenues totaled $13.280 billion before $1.112 billion of eliminations, primarily involving transactions between PSE&G and PSEG Power; consolidated operating revenues were $12.168 billion.[28][31] [27][28][28][2][29][30][28][28][28][31]
Company history
Public Service Group’s roots date to 1903, when Public Service Corporation was formed by combining more than 400 New Jersey gas, electric and transportation companies. In 1928, its electric and gas operations were consolidated as Public Service Electric and Gas Company (PSE&G); the holding company Public Service Enterprise Group Incorporated was formed in 1985.[32][26]
PSEG expanded its generation business in 1999 with the formation of PSEG Power amid the restructuring of New Jersey’s electricity industry. Its nuclear milestones included the commercial operation of Salem Units 1 and 2 in 1976 and 1980, followed by Hope Creek in 1986.[33][34]
In 2014, PSEG Long Island began managing Long Island’s electric system under an operating-services agreement. In 2021, PSEG agreed to sell its fossil-generation portfolio; the portfolio sales closed in stages, with the sale of its interest in Hawaii’s Kalaeloa facility completed in 2023.[35][36][37][38] [32][26][33][34][35][36][37][38]
Sources
- PUBLIC SERVICE ENTERPRISE GROUP INC — Full financial report (2025 Y)
- corporate.pseg.com[8]
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- myhomeenergy.pseg.com[17]
- nj.pseg.com[18]
- nj.myaccount.pseg.com[19]
- nj.pseg.com[20]
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- corporate.pseg.com[23]
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- nj.pseg.com[32]
- corporate.pseg.com[33]
- nj.pseg.com[34]
- investor.pseg.com[35]
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- investor.pseg.com[38]
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