Public Service Enterprise Group: The backbone of the US energy sector

Public Service Enterprise Group (PSEG) is a long-established American energy company that has been committed to providing reliable, safe and sustainable electricity and natural gas services to residents and businesses in New Jersey and surrounding areas since its establishment in 1903. As a group company with extensive influence in the energy field, PSEG not only focuses on traditional energy supply, but also actively engages in clean energy transformation and technological innovation, becoming an important participant in promoting the modernization of the US energy industry.

Headquartered in Newark, New Jersey, PSEG's business scope covers multiple core areas such as power generation, transmission, distribution and natural gas supply. Through its three subsidiaries, PSEG Power, Public Service Electric and Gas (PSE&G) and PSEG Energy Holdings, PSEG has built a comprehensive energy ecosystem to ensure that the needs of different customer groups can be met and provide strong support for regional economic development.

PSEG's History and Growth

Dating back to 1903, PSEG was originally a small electricity supplier in New Jersey, mainly serving local residents and businesses. With the acceleration of industrialization and technological advancement, the company gradually expanded its scale and business scope, and gradually grew into a comprehensive energy company. Over the past 100 years, PSEG has undergone many major changes and reorganizations, including:

• Early Development Stage (1903-1950): During this period, the company focused on the construction and operation of basic power facilities, providing the necessary 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 the regional market by acquiring other local power companies and began to enter the natural gas supply field.
• Diversification and globalization stage (1980 to present): Faced with an increasingly complex market environment and changing customer needs, PSEG actively adjusted its strategic direction, turning its attention to areas such as renewable energy development, international market expansion, and digital technology applications, striving to build a more efficient and environmentally friendly energy system.

It is worth mentioning that over the past few decades, PSEG has always adhered to the customer-centric service concept and continued to increase investment in infrastructure construction to ensure that service quality is always at the forefront of the industry. In addition, the company has also actively participated in community public welfare activities and fulfilled its social responsibilities, winning high recognition from users and all sectors of society.

PSEG's core business segments

PSEG's success is inseparable from its scientific and reasonable organizational structure and a professional team with clear division of labor. At present, the company is mainly composed of the following three key subsidiaries, each of which has specific responsibilities and plays an irreplaceable role in its respective field:

1. PSEG Power

PSEG Power is responsible for all power generation related matters of 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 more than 24,000 megawatts and is vigorously 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 highly polluting traditional fossil fuel power generation facilities in the next few years and switch to cleaner and more efficient alternatives.

2. Public Service Electric and Gas (PSE&G)

PSE&G is one of the most important subsidiaries of PSEG and the largest utility provider in New Jersey. It is mainly responsible for the transmission and distribution of electricity and natural gas, providing stable and reliable energy supply services to more than 2 million electricity users and nearly 2 million natural gas users.

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

3. PSEG Energy Holdings

PSEG Energy Holdings is focused on investment management activities, aiming to optimize resource allocation and enhance the group's overall competitiveness. Specifically, PSEG Energy Holdings is mainly involved in domestic and foreign energy asset acquisitions, risk assessments, and long-term strategic planning.

With rich experience and expertise, PSEG Energy Holdings has successfully helped the group identify potential growth opportunities and formulate practical development strategies, laying a solid foundation for achieving sustainable development goals.

PSEG's Technological Innovation and Sustainable Development Practices

As a responsible corporate citizen, PSEG is fully aware of the importance of environmental protection for future generations and therefore always prioritizes sustainable development. The following are some of the company's outstanding performances in technological innovation and green transformation:

1. Promote clean energy transformation

PSEG has set an ambitious goal to reduce its greenhouse gas emissions by at least 50% by 2030 (compared to a 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 of energy storage technology, hoping to solve the problem of intermittent energy supply by building large-scale battery storage facilities, thereby further improving the flexibility and stability of the power grid.

2. Strengthen the construction of smart grids

Smart grid is considered an important part of the future energy system because it can effectively integrate various forms of energy and realize real-time interaction between supply and demand. Based on this understanding, PSEG has invested heavily in upgrading the existing grid infrastructure and introducing cutting-edge technologies such as the Internet of Things, big data analysis 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

To help customers better control their energy consumption, PSEG has launched a number of energy-saving programs and services, such as home energy audits, smart thermostat installations, and LED lighting retrofits, etc. Through these measures, users can better understand their electricity usage habits and take corresponding actions to reduce waste.

At the same time, PSEG also encourages employees to actively participate in energy-saving and emission-reduction activities, and establishes a special reward fund to commend those with outstanding performance, creating a strong environmental protection atmosphere.

PSEG's social responsibility and public welfare contributions

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

• Educational Support: PSEG has established several scholarship programs to specifically support young people who are interested in pursuing research in energy and related fields. At the same time, the company has established cooperative relationships with many universities to jointly carry out scientific research projects and technical training courses.
• Disaster Relief: Whenever a natural disaster occurs, PSEG will quickly organize a professional team to go to the disaster area to carry out emergency repairs and restore normal life order in the affected areas as soon as possible.
• Community Building: PSEG actively participates in various community activities, such as afforestation, cleaning up river garbage, and holding free health check-up days, striving to improve the quality of residents' living environment.

Through the above efforts, PSEG has not only enhanced its own brand image, but also made positive contributions to building a harmonious society.

PSEG's official website: www.pseg.com

If you want to learn more about PSEG, including the latest news, financial reports, career opportunities, etc., please visit its official website: www.pseg.com . The website is simple and clear in design, with a user-friendly interface, so both ordinary consumers and industry experts can easily find the content they are interested in.

In short, PSEG has occupied an important position in the energy industry in the United States and even the world with its outstanding performance and firm sense of social responsibility. Looking to the future, PSEG will continue to uphold the mission of "creating value for customers and contributing to society", constantly pursue excellence, and create a more brilliant tomorrow.