Public Service Enterprise Group Inc. (PSEG) history, profile and history video
Public Service Enterprise Group Inc. (PSEG) is a diversified energy company headquartered in Newark, New Jersey, United States. It was formed in 1903 as the Public Service Corporation (PSC) by combining more than 400 gas, electric and transportation companies in New Jersey.
In 1928, The Public Service Corporation merged its electric and gas utilities into a single company, PSE&G (Public Service Electric and Gas Company).
Also in 1928, Public Service Coordinated Transport (PSCT) was formed as an umbrella for the transit businesses.
In 1948, the parent Public Service Corporation was dissolved and PSE&G became an independent company, with Public Service Coordinated Transport as a subsidiary.
PSCT was renamed Transport of New Jersey in 1971, and sold to New Jersey Transit in 1980, leaving PSE&G exclusively in the utility business.
In 1985, the Public Service Enterprise Group (PSEG) was created to serve as the holding company for PSE&G.
In 1989, PSEG establishes Enterprise Diversified Holdings Inc. (now PSEG Energy Holdings).
In 2000, PSEG split PSE&G subsidiary’s unregulated national power generation assets to form PSEG Power, while the PSE&G continued operating in New Jersey as a regulated gas and electric delivery company.
The company operates through three main operating subsidiaries: PSE&G, PSEG Power, and PSEG Long Island.
PSE&G
Public Service Electric and Gas Co. (PSE&G) is New Jersey’s largest provider of electric and natural gas service
PSEG Power
PSEG Power owns and operates a diverse fleet of power plants located primarily in the Mid-Atlantic and Northeast regions and has solar energy facilities throughout the United States.
PSEG Long Island
PSEG Long Island operates the electric transmission and distribution system of the Long Island Power Authority.
With more than 12 000 employees, Public Service Enterprise Group Inc. (PSEG) is considered one of the largest electric companies in the U.S. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and corporate.pseg.com.
**Video published on YouTube by “PSEGvideo“.