Public Service Group (PSEG) last week announced it would pursue alternatives for its non-nuclear production fleet to grow into a largely regulated electricity and gas company, as well as improve credit efforts and clean energy.
Although this may affect its 46,000 MW operating capacity under Solar Source. But this could cause a significant shock to the fossil-producing company more than 6,750 MW in New Jersey, Connecticut, New York, and Maryland.
PSEG is currently evaluating offshore wind investments and is participating in upcoming offshore wind offers in the Central Atlantic region.
Finally, PSEG utility, PSE & G, also filed a $ 3.5 billion clean energy future record with the state of New Jersey to achieve the state goals created by Dao clean energy law 2018.
A separation of non-nuclear assets will reduce business risks and common income volatility, improve our credit profile, and enhance the attractive ESG position driven by energy investments clean emissions, reducing methane and generating carbon, zero Ralph Izzo, president, president and CEO of PSEG, said.
We see a shift in investor preference for ownership of regulated utility businesses that are not in contact with goods for merchant creation and related income fluctuations. We believe that PSE & G is one of the best utilities in the country and our pricing should match that profile.
Under PSE & G’s new plan, energy-saving programs will be expanded to reach more people, elective vehicle infrastructure and energy storage will be pursued and services will be expanded. Enhanced through technologies such as advanced meters and energy cloud services.
Despite the ongoing changes, PSEG has no intention of giving up its current nuclear fleet, managed by PSEG Power. That energy industry has been a cost-effective source of carbon electricity, in the company’s view. PSEG seeks to move its entire operation to such a carbon-free platform.
We are proud to have served the needs of our customers and key stakeholders for the past 117 years and are excited to explore opportunities that will shape the future of PSEG, Throwing Izzo. This is a future-focused on promoting our business as a sustainable supplier, focusing on customers of electricity and natural gas services, powered by a host-regulated utility. weak and contracting businesses.
What all will end up looking is a lot in the air. PSEG is still in the preliminary evaluation phase and has joined Goldman Sachs and Wachtell, Lipton, Rosen & Katz as advisers for their strategic assessment.