Public Service Enterprise Group (PEG)

Profile

Exchange: NYSE       Sector: Utilities       Industry: Diversified Utilities

Public Service Electric and Gas Company (PSE&G), is one of the largest combined electric and gas companies in the United States and is also New Jersey's oldest and largest publicly owned utility. The Public Service Corporation was formed in 1903 by amalgamating more than 400 gas, electric and transportation companies in New Jersey. It was renamed Public Service Electric and Gas Company in 1948. PSE&G is the largest subsidiary of PSEG. PSE&G currently serves nearly three quarters of New Jersey's population in a service area consisting of a 2,600-square-mile diagonal corridor across the state from Bergen to Gloucester Counties. PSE&G is the largest provider of gas and electric service, servicing 1.8 million gas customers and 2.2 million electric customers in more than 300 urban, suburban and rural communities, including New Jersey's six largest cities. While new business ventures will play a vital role in the long-term growth and strength of the company, PSE&G remains primarily a regulated gas and electric delivery company.