PSEG Power
PSEG Power operates the Salem and Hope Creek nuclear generating stations supplying over 40% of New Jersey's electricity, as the generation arm of Public Service Enterprise Group (NYSE: PEG), whose PSE&G subsidiary serves 1.9M+ gas and 2.3M electric customers across a regulated New Jersey franchise.
- Company typePublic
- Founded1903
- HeadquartersNewark, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What PSEG Power does
PSEG Power is the nuclear generation subsidiary of Public Service Enterprise Group (PSEG), a publicly traded utility holding company (NYSE: PEG) headquartered in Newark, New Jersey. PSEG Power operates the Salem and Hope Creek nuclear generating stations, which together supply over 40% of New Jersey's electricity, and through a partnership with Westinghouse and Nordion has established the first commercial-scale production of Cobalt-60 in U.S. Pressurized Water Reactors at the Salem site. Wholesale electricity is sold into the PJM market alongside regulated contracts.
PSEG's primary operating subsidiary is Public Service Electric and Gas Company (PSE&G), the largest combined electric and gas utility in New Jersey, serving approximately 1.9 million gas customers and roughly 2.3 million electric customers across a regulated franchise territory. PSE&G distributes electricity and natural gas under rates approved by the New Jersey Board of Public Utilities (NJBPU), sources approximately 90% of its residential gas supply from the Marcellus Shale region in Pennsylvania, and operates a broad portfolio of customer-facing programs including energy efficiency rebates ($940M in rebates over five years), WorryFree appliance protection, FlexPower demand response, solar net metering, community solar, and the MyMeter smart meter portal.
The company's business model combines regulated rate-base utility earnings with merchant nuclear generation and emerging clean energy ventures. PSE&G filed to lower residential gas heating bills by 5% effective October 1, 2026. PSEG has raised its regulated capital spending plan to $22.5-$25.5 billion through 2030, targeting 6%-7.5% compound annual rate base growth. The company reaffirmed a long-term target of 6%-8% non-GAAP operating earnings CAGR through 2030 without issuing new equity, supported by 15 consecutive years of dividend increases. Adjacent growth areas include offshore wind through a strategic partnership with Ørsted, battery energy storage under the Garden State Energy Storage Program, and advanced nuclear including small modular reactors following the April 2026 lifting of New Jersey's longstanding nuclear moratorium.
PSEG Power firmographics
Firmographics- Name
- PSEG Power
- Legal name
- Public Service Enterprise Group Incorporated
- Website
- https://nj.pseg.com
- Company type
- Public
- Founded year
- 1903
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- PSEG Power operates the Salem and Hope Creek nuclear generating stations supplying over 40% of New Jersey's electricity, as the generation arm of Public Service Enterprise Group (NYSE: PEG), whose PSE&G subsidiary serves 1.9M+ gas and 2.3M electric customers across a regulated New Jersey franchise.
- Ownership category
- akta.pro rank
PSEG Power industry classification
Industry- Product category
- Nuclear Power Generation
- NAICS
- Nuclear Electric Power Generation (221113), Electric Power Generation, Transmission and Distribution (2211), Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Pressurized Water Reactor (PWR) Power Generation (EUACADAA)
- akta.pro secondary industries
- Chemistry, Water Treatment & Radiochemistry (Primary/Secondary Chemistry, Sampling) (EUAKABAG), Reactor Vessel, Internals & Primary Circuit Components (RPV, piping, pumps, valves) (EUAKADAE)
Keywords
Where PSEG Power is headquartered
LocationHeadquarters
- HQ city
- Newark
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
PSEG Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain
Revenue model
- Regulated Electric and Gas Utility: PSE&G operates as a regulated utility in New Jersey, providing electric distribution and gas distribution services. Revenue is earned through regulated rates approved by the New Jersey Board of Public Utilities (NJBPU), including base rates, adjustment clauses, and infrastructure modernization programs. The utility serves approximately 1.9 million gas customers.
- Nuclear Power Generation (PSEG Power): PSEG Power operates nuclear generating stations (Salem and Hope Creek) that supply over 40% of New Jersey's energy. The segment generates revenue through wholesale electricity sales in the PJM market and through regulated contracts.
- Energy Efficiency Programs: PSE&G offers energy efficiency programs including rebates, home assessments, and appliance recycling. These programs are funded through ratepayer contributions and generate revenue through avoided costs and demand reduction.
- WorryFree Appliance Protection: PSE&G's WorryFree program offers residential and commercial appliance protection plans covering repair and replacement services for HVAC, water heaters, and other appliances for a monthly fee.
- PSEG Foundation Community Relief: PSE&G and the PSEG Foundation provide $1.5 million community relief initiative funding to support families facing economic hardship through nonprofit partnerships.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Residential Gas Service - Standard Rate |
| Subscription | Pay-as-you-go | HVAC Instant Rebates Program |
| Subscription | Annual | Energy Efficiency Rebates and Incentives |
| Subscription | Monthly | WorryFree Appliance Protection Plans |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
PSEG Power product offering
Product offeringCore offering
PSEG Power operates nuclear generating stations (Salem and Hope Creek) that supply over 40% of New Jersey's energy, generating revenue through wholesale electricity sales in the PJM market and through regulated contracts with its affiliate PSE&G. The segment also produces Cobalt-60 medical isotopes at the Salem nuclear generating station for medical device sterilization, cancer treatment, and food safety applications.
Product overview
PSE&G operates as a vertically integrated utility company providing electric and gas services across New Jersey. The company's product portfolio centers on core utility delivery (electric service and gas service) supplemented by customer-facing programs and sub-brands. Key products include WorryFree for appliance protection and repair services, MyMeter for smart meter management, FlexPower for demand response, and various energy efficiency programs (Whole Home Energy Solutions, Home Weatherization, HVAC Rebates). The company also supports renewable energy through Solar Net Metering and Community Solar programs. These offerings work together to provide residential and business customers with comprehensive energy management solutions—from supply and delivery to efficiency improvements and appliance protection.
Differentiator
Problem solved
Functional benefit
Brands
- WorryFree: Appliance protection and service plans covering heating, cooling, kitchen, and laundry appliances with repair and replacement services.
- FlexPower
- PSEG Foundation
- Clean Energy Jobs Program
Products and services
- Nuclear Power Generation (Salem and Hope Creek) Baseload nuclear electricity generated at the Salem and Hope Creek Pressurized Water Reactor stations and sold into the PJM wholesale market and to affiliate PSE&G, supplying over 40% of New Jersey's energy.
- Cobalt-60 Medical Isotope Production Commercial-scale production of Cobalt-60 at the Salem nuclear generating station for medical device sterilization, cancer treatment (stereotactic radiosurgery), and food safety irradiation, distributed by Nordion.
- Wholesale Electricity Sales in PJM Market Energy and capacity sales from PSEG Power's nuclear fleet into the PJM Interconnection wholesale electricity market, generating revenue through market-based energy prices and capacity auctions.
Quantifiable outcome
- 5% reduction in residential gas heating bills effective October 1, 2026
- +4 more outcomes
Companies that use PSEG Power
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles2 records
PSEG Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
PSEG Power partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor, core and major.
- Holy Name Medical CenterminorPSE&G completed a $12.7 million energy efficiency upgrade project at Holy Name Medical Center in Teaneck, New Jersey. The project was supported by PSE&G incentives covering approximately 35% of costs and took four years to complete while working around the hospital's continuous operations.
- Westinghouse Electric CompanycoreWestinghouse, Nordion (Canada) Inc., and PSEG Nuclear LLC signed long-term agreements to establish the first commercial-scale production of Cobalt-60 in U.S. Pressurized Water Reactors at PSEG's Salem nuclear generating station in New Jersey. Cobalt-60 is a critical isotope used annually to sterilize over 16 billion single-use medical devices, deliver cancer treatments via stereotactic radiosurgery, and enhance food safety through irradiation.
- Nordion (Canada) Inc.coreNordion signed long-term agreements with Westinghouse and PSEG Nuclear LLC to supply Cobalt-60 produced at PSEG's Salem nuclear generating station. Nordion will distribute the produced Cobalt-60 for medical, industrial, and food safety applications.
- ØrstedmajorØrsted entered into a strategic partnership with PSEG in June 2025 for offshore wind projects along the US East Coast, combining Ørsted's offshore wind development expertise with PSEG's utility operations in New Jersey.
Scale indicators10 records
Recent moves6 records
Expansion highlights7 records
PSEG Power competitors and assessment
Company assessmentDirect peers
- Eversource Energy: Eversource is the largest energy delivery company in New England, serving Connecticut, Massachusetts, and New Hampshire with regulated electric, gas, and water operations. Comparable to PSEG as a Northeast regulated utility with similar customer-base scale and regulatory structure.
- Dominion Energy: Dominion is a regulated electric and gas utility with nuclear generation (North Anna, Surry) serving Virginia and the Carolinas. Directly comparable to PSEG as a regulated utility with nuclear baseload, growth-oriented capital plans, and exposure to data center load growth driving electricity demand.
- Entergy Corporation: Entergy is a regulated electric utility with substantial nuclear generation (Arkansas, Louisiana, Mississippi, Texas). Comparable to PSEG as a regulated utility with a meaningful nuclear baseload share and aggressive capital investment programs for clean energy transition.
- Constellation Energy: Constellation is the largest U.S. nuclear operator following its spin-off from Exelon, with significant merchant nuclear exposure in PJM and other markets. Directly comparable to PSEG Power as a nuclear-heavy merchant generator operating in PJM, exposed to similar wholesale market dynamics.
- Con Edison: Consolidated Edison is a regulated electric, gas, and steam utility serving New York City and Westchester County. Comparable to PSEG as a Northeast regulated utility with similar urban customer concentration and exposure to high-density commercial/industrial load including data centers.
- FirstEnergy Corp. FirstEnergy is a regulated electric utility serving Ohio, Pennsylvania, New Jersey, Maryland, and West Virginia. Comparable to PSEG as a PJM-market regulated utility with overlapping New Jersey service territory and similar capital plan execution profile.
- Exelon Corporation: Exelon is a large regulated and competitive electric utility holding company with substantial nuclear generation in the Mid-Atlantic and Midwest. Comparable to PSEG as a regulated utility with significant nuclear baseload serving Northeastern/Mid-Atlantic customers, and operates in PJM-adjacent markets.
Broad incumbents
- Duke Energy: Duke Energy is one of the largest U.S. regulated electric and gas utilities serving the Carolinas, Florida, and the Midwest. Comparable to PSEG as a large-cap regulated utility with a multi-billion-dollar capital plan, but operates across multiple states and a broader generation portfolio.
- NextEra Energy: NextEra Energy is the largest U.S. renewable energy generator and parent of Florida Power & Light. Comparable to PSEG as a large-cap utility with aggressive capital plans and clean energy positioning, but significantly larger scale and stronger renewables mix.
Emerging players
- NRG Energy: NRG Energy is a competitive power generator and retail electricity provider with significant PJM exposure following its acquisition of Direct Energy. Comparable to PSEG Power's merchant generation business as a PJM market participant, but operates without the regulated utility parent.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
PSEG Power social profiles
Digital presencePSEG Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
PSEG Power leadership team
Management profileNumber of profiles
Profiles1 record
PSEG Power subsidiaries and ownership
Company hierarchySubsidiaries3 records
PSEG Power funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PSEG Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PSEG Power
What does PSEG Power do?
PSEG Power operates nuclear generating stations (Salem and Hope Creek) that supply over 40% of New Jersey's energy, generating revenue through wholesale electricity sales in the PJM market and through regulated contracts with its affiliate PSE&G. The segment also produces Cobalt-60 medical isotopes at the Salem nuclear generating station for medical device sterilization, cancer treatment, and food safety applications.
Is PSEG Power a public or private company?
PSEG Power is a public company. It is classified as corporate owned and is currently operating.
When was PSEG Power founded?
PSEG Power was founded in 1903. It employs 1,001 to 5,000 people.
Where is PSEG Power based?
PSEG Power is headquartered in Newark, United States, in the North America region.
How does PSEG Power make money?
Five revenue lines are on record. Regulated Electric and Gas Utility is the primary driver. The others are nuclear Power Generation (PSEG Power), energy Efficiency Programs, worryFree Appliance Protection and PSEG Foundation Community Relief.
Who are PSEG Power's main competitors?
Direct peers on record are Eversource Energy, Dominion Energy, Entergy Corporation, Constellation Energy, Con Edison, FirstEnergy Corp. and Exelon Corporation. Broad incumbents are Duke Energy and NextEra Energy. NRG Energy is listed as an emerging player.
Does PSEG Power have an API?
No public API is recorded for PSEG Power.
What industry is PSEG Power in?
PSEG Power's product category is Nuclear Power Generation. Its primary akta.pro industry code is EUACADAA, Pressurized Water Reactor (PWR) Power Generation, with a secondary code of EUAKABAG, Chemistry, Water Treatment & Radiochemistry (Primary/Secondary Chemistry, Sampling). Its NAICS code is 221113 and its SIC code is 4991.