Public Service Enterprise Group

What Public Service Enterprise Group does

Public Service Enterprise Group (PSEG) is a publicly traded (NYSE: PEG) regulated energy infrastructure holding company headquartered in Newark, New Jersey. Through its core subsidiary Public Service Electric and Gas Company (PSE&G), PSEG operates New Jersey's largest transmission and distribution network, serving approximately 2.4 million electric customers and 1.9 million natural gas customers with rates set by the New Jersey Board of Public Utilities. PSEG Long Island, under a contract extension effective January 1, 2026, operates LIPA's T&D system for 1.2 million customers, while PSEG Power owns and operates a merchant nuclear fleet totaling 3,758 MW of carbon-free baseload capacity across the Salem and Hope Creek stations in NJ (with a 50% Peach Bottom stake in PA), providing 85% of New Jersey's carbon-free electricity.

The company's core technology portfolio combines regulated T&D infrastructure with smart-grid investments, including 10,000+ automatic branch line reclosers, storm-hardening across over 1,400 miles of distribution circuits, and a multi-year Gas System Modernization Program that has reduced methane emissions by approximately 245,000 metric tons CO2e between 2018 and 2025. PSEG Nuclear's three generating stations, with operating licenses extending as far as 2046 (Hope Creek), achieved a 91.2% capacity factor in 2025.

PSEG's revenue model is predominantly regulated and recurring, with capital recovery and a return on equity earned through NJ BPU-approved rate cases. PSEG Power's merchant nuclear output is sold into the PJM wholesale market at prevailing capacity and energy prices. The 2026-2030 capital plan of $24-28 billion (over 90% directed to regulated investments) supports a targeted 6%-8% non-GAAP operating earnings CAGR through 2030. Q1 2026 revenue of $3.85 billion was up 19.43% year-over-year, and 2025 net income reached $2.11 billion. In April 2026, PSEG announced plans to develop a 300 MW-scale data center in Kenilworth, NJ, marking a strategic pivot toward serving AI/data center power demand from in-PJM carbon-free nuclear generation.

Name

Public Service Enterprise Group

Legal name

Public Service Enterprise Group Incorporated

Website

https://pseg.com

Company type

Public

Founded year

1907

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Public Service Enterprise Group is a regulated energy holding company operating New Jersey's largest electric and gas utility (PSE&G) for 4.3 million customers, Long Island's T&D system for 1.2 million customers, and a 3,758 MW carbon-free nuclear generation fleet.

Ownership category

akta.pro rank

Product category

Regulated Electric and Gas Utility

NAICS

Electric Power Transmission, Control, and Distribution (22112), Natural Gas Distribution (22121)

SIC

Electric, Gas & Sanitary Services (4900), Electric Services (4911), Natural Gas Distribution (4924)

akta.pro primary industry

Retail Supply + DER/Virtual Power Plant Bundles (Solar, Storage, DR) (EUAGABAI)

akta.pro secondary industries

C&I PPAs & Virtual PPAs (VPPA) Origination & Management (EUAGACAF), Utility-Scale VPPs & Grid Services Aggregation (Capacity, Frequency, Reserves) (EUAFAHAD), Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory) (EUAMAAAJ)

Keywords

• Regulated electric utility
• Natural gas distribution
• Nuclear power generation
• Transmission and distribution
• Energy infrastructure

Headquarters

HQ city

Newark

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Others

Revenue model

1. Regulated Electric Utility (PSE&G): Transmission and distribution of electricity to approximately 2.4 million customers in New Jersey with regulated rate recovery. Revenue is earned through approved rate cases that allow recovery of capital investments and operating expenses plus a return on equity.
2. Regulated Gas Utility (PSE&G): Natural gas distribution to approximately 1.9 million customers in New Jersey. Sources approximately 90% of residential gas supply from the Marcellus Shale region in Pennsylvania.
3. Nuclear Generation (PSSEG Power): Merchant nuclear generating assets producing approximately 3,758 MW of carbon-free baseload power sold into the PJM wholesale electricity market at prevailing capacity and energy prices.
4. PSEG Long Island Operations: Operates the Long Island Power Authority's transmission and distribution system under a long-term contract, serving 1.2 million customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

PSEG is a predominantly regulated energy infrastructure company operating through three core segments: PSE&G, New Jersey's largest electric and gas transmission and distribution utility serving approximately 2.4 million electric and 1.9 million natural gas customers; PSEG Long Island, which operates LIPA's T&D system for 1.2 million customers under a long-term contract; and PSEG Power, which owns merchant nuclear generating assets totaling 3,758 MW of carbon-free baseload capacity sold into the PJM wholesale market.

Product overview

Public Service Enterprise Group (PSEG) operates as a predominantly regulated energy infrastructure company with three core business segments: PSE&G (New Jersey's largest electric and gas utility serving 2.4 million electric and 1.9 million natural gas customers), PSEG Long Island (operating the Long Island Power Authority's transmission/distribution system for 1.2 million customers), and PSEG Power (nuclear generation with 3,758 MW of carbon-free capacity). The company offers customer-facing digital services including My Account portal, MyMeter smart meter management, and FlexPower demand response program. Its PSEG Nuclear subsidiary operates Salem and Hope Creek stations (providing 40%+ of NJ electricity, 80%+ of carbon-free generation) with 50% ownership in Peach Bottom. The PSEG Foundation and Neighborhood Partners Program provide community philanthropy. The company is also developing AI infrastructure with a planned 300 MW data center in Kenilworth.

Differentiator

Problem solved

Functional benefit

Brands

• WorryFree: Appliance protection and service plans for residential and commercial customers covering heating, cooling, kitchen, and laundry appliances
• FlexPower
• EnergyLink
• Home Energy Savings
• Zero Emissions Credits (ZEC)

Products and services

• PSE&G Electric Service Regulated electric transmission and distribution service delivering electricity to approximately 2.4 million residential, commercial, and industrial customers across New Jersey under NJ BPU-approved rates.
• PSE&G Natural Gas Service Regulated natural gas distribution to approximately 1.9 million customers in New Jersey, sourced approximately 90% from the Marcellus Shale region in Pennsylvania.
• PSEG Long Island Electric Service Operates the Long Island Power Authority's electric transmission and distribution system under a long-term contract (extended for five years beginning January 1, 2026), serving 1.2 million customers on Long Island and in the Rockaways.
• PSEG Power Nuclear Generation Merchant nuclear generation producing approximately 3,758 MW of carbon-free baseload power from Salem, Hope Creek, and Peach Bottom stations, sold into the PJM wholesale electricity market at prevailing capacity and energy prices.
• WorryFree Appliance Protection Appliance protection and service plans covering heating, cooling, kitchen, and laundry appliances with repair, replacement, and installation services for residential and commercial customers.
• FlexPower Demand Response Demand response program allowing customers to enroll smart thermostats, water heaters, EVs, or EV chargers and earn rewards by reducing energy usage during peak demand periods.
• Energy Efficiency Programs Suite of residential and commercial energy efficiency offerings including rebates, weatherization services, HVAC incentives, appliance recycling, and whole-home energy solutions under the Home Energy Savings umbrella.
• Solar and Renewable Energy Programs Comprehensive solar services including interconnection approval, net metering, solar power suitability mapping, and community solar options for residential customers.

Quantifiable outcome

• Nuclear plants save NJ consumers $400+ million annually vs. alternative electricity sources (Brattle Group)
• +5 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Long Island Power AuthoritycoreStrategic or Co-development Partner · 1 January 2026PSEG Long Island operates the Long Island Power Authority's transmission and distribution system under a five-year contract extension approved by the NY State Comptroller, beginning January 1, 2026. The contract serves 1.2 million customers in Long Island and the Rockaways.

Scale indicators15 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Constellation Energy: Constellation Energy is the largest U.S. operator of nuclear power plants and a co-owner with PSEG in both the Salem and Peach Bottom nuclear generating stations. Both companies compete in PJM wholesale capacity and energy markets and pursue hyperscaler/data center contracting for their carbon-free nuclear fleets.
• Exelon Corporation: Exelon is a large U.S. regulated electric and gas utility holding company serving millions of customers across multiple states, with a substantial nuclear generation portfolio. PSEG and Exelon share a comparable regulated T&D + nuclear business model and operate within overlapping PJM markets.
• Consolidated Edison: Con Edison is a regulated electric, gas, and steam utility serving New York City and Westchester County. Like PSEG, it operates as a regulated monopoly in the Northeast corridor with rate base growth supported by infrastructure investment and faces similar regulatory and storm exposure.
• Eversource Energy: Eversource is a Northeast-focused regulated electric, gas, and water utility serving Connecticut, Massachusetts, and New Hampshire. Its regulated T&D utility model, capital-intensive grid modernization programs, and exposure to Northeast regulatory frameworks make it directly comparable to PSE&G.
• Entergy Corporation: Entergy is a regulated electric utility with a significant nuclear generation portfolio operating across the Mid-South and PJM South regions. Its combination of regulated T&D and merchant/regulated nuclear power parallels PSEG's integrated business model.

Broad incumbents

• Duke Energy: Duke Energy is one of the largest U.S. regulated electric utilities serving more than 8 million customers across the Carolinas, Florida, and Midwest. While broader in geographic scope, Duke shares PSEG's regulated utility + large-scale generation business model and pursues similar grid modernization and clean energy strategies.
• Southern Company: Southern Company is a large multi-state regulated electric and gas utility serving the Southeast U.S. with a portfolio that includes nuclear generation (Vogtle). Its vertically integrated regulated utility model and large capital investment program are comparable to PSEG's strategic posture.
• Dominion Energy: Dominion Energy operates regulated electric and gas utilities across Virginia, North Carolina, and South Carolina with substantial nuclear generation (Surry and North Anna). Its mix of regulated T&D and nuclear power, along with data center demand exposure in Virginia, makes it broadly comparable to PSEG.
• NextEra Energy: NextEra Energy is the largest U.S. renewable energy generator and parent of Florida Power & Light, a regulated utility. Its scale, regulated rate base growth, and leadership in clean energy transition provide a broad benchmark for PSEG's growth and capital deployment trajectory.

Regional players

• National Grid: National Grid is a UK-headquartered regulated electric and gas utility with significant U.S. operations in New York and Massachusetts. Its Northeast regulated T&D franchise, capital investment programs, and exposure to state-level regulatory commissions are structurally similar to PSE&G's footprint and operating model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/PSEGnews
• YouTubeyoutube.com/channel/UCw_-e1C8OBC2w_Jo2Eyo3lQ
• Facebookfacebook.com/PSEG
• LinkedInlinkedin.com/company/pseg
• Instagraminstagram.com/pseg

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries9 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Public Service Enterprise Group