PSEG Energy Holdings

What PSEG Energy Holdings does

PSEG Energy Holdings is a regulated utility holding company operating primarily through its subsidiary PSE&G (Public Service Electric and Gas), the largest public utility in New Jersey, and PSEG Long Island, which serves Long Island and the Rockaways in New York. The company delivers electricity and natural gas distribution services to millions of residential, commercial, and industrial customers across its regulated service territories, with rates and capital recovery mechanisms approved by the NJ Board of Public Utilities. Underlying generation is anchored by the Salem and Hope Creek nuclear plants, which supply over 40% of New Jersey's energy and represent a significant sunk-capital generation base, supplemented by offshore wind partnerships and energy efficiency programs.

The company's business model is anchored in regulated rate-base recovery, with revenue earned on approved capital investments and operating expenses recouped through periodic rate cases. PSE&G has filed to reduce residential gas heating bills by 5% effective October 2026, benefiting ~1.9 million gas customers and citing strategic long-term sourcing of ~90% of residential gas from the Marcellus Shale region. Growth is driven by a $22.5B-$25.5B regulated capital spending plan through 2030, targeting 6%-8% annual operating earnings growth, alongside the scaling of the EV charging program (28,000 of a planned ~45,000 chargers installed as of October 2025) and energy efficiency programs (Triennium 2.5) delivering ~$900 million in annual customer savings across 480,000 participants and 20,000+ businesses. The company reported Q4 2025 operating revenues of $2.9 billion and FY2025 net income of $2.1 billion (up 19% year-over-year), and trades publicly on the NYSE under ticker PEG.

Name

PSEG Energy Holdings

Legal name

Public Service Enterprise Group Incorporated

Website

https://landing.pseg.com

Company type

Public

Founded year

1903

Operating status

Operating

Headcount range

1–10 employees

Short description

PSEG Energy Holdings is a regulated utility holding company operating PSE&G in New Jersey and PSEG Long Island, with nuclear generation from Salem and Hope Creek plants, serving millions of residential, commercial, and industrial customers with electricity, gas, energy efficiency, and EV charging programs.

Ownership category

akta.pro rank

Product category

Regulated Electric and Gas Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111), Nuclear Electric Power Generation (221113), Electric Power Distribution (221122)

SIC

Electric Services (4911), Natural Gas Transmisison & Distribution (4923), Gas & Other Services Combined (4932)

akta.pro primary industry

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

akta.pro secondary industries

Charging Network Operators & CPOs Offering Smart Charging/V2G (EUAFAMAD), Utility-Scale VPPs & Grid Services Aggregation (Capacity, Frequency, Reserves) (EUAFAHAD)

Keywords

• Regulated electric utility
• Natural gas distribution
• Nuclear power generation
• Utility EV charging
• Energy efficiency programs

Headquarters

HQ city

Newark

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Regulated Electric and Gas Distribution: PSEG generates the majority of its revenue through regulated rate-base recovery for electricity and gas distribution services to residential, commercial, and industrial customers across its New Jersey service territory. Revenue is earned on approved capital investments and operating expenses recovered through rate cases filed with the NJ Board of Public Utilities. Growth is driven by capex investment plans of $22.5B-$25.5B through 2030, targeting 6%-8% annual operating earnings growth.
2. Gas Supply and Transportation: PSE&G sources approximately 90% of residential gas supply from the Marcellus Shale region in Pennsylvania, providing stable supply and reducing transportation costs and market volatility exposure for customers, generating revenue through regulated gas delivery charges.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels1 record

Core offering

PSEG Energy Holdings, through its PSE&G subsidiary, delivers regulated electricity and natural gas distribution services to residential, commercial, and industrial customers across New Jersey, supported by nuclear power generation (Salem and Hope Creek plants), utility-led EV charging infrastructure, and state-mandated energy efficiency programs. PSEG Long Island provides electric service to Long Island and the Rockaways in New York, and PSEG Power manages generation assets.

Product overview

PSEG Energy Holdings operates as a regulated utility holding company with a unified platform of electric and gas distribution services across New Jersey and Long Island, New York. The core product portfolio centers on PSE&G (Public Service Electric and Gas), the largest NJ public utility delivering electricity and gas to residential and business customers through dedicated service portals. Supporting the core distribution operations are two key programs: the EV Charging Program, which has deployed over 28,000 of a planned 45,000 chargers and is expanding into medium- and heavy-duty electrification, and the Energy Efficiency Programs delivering over $900 million in annual customer savings through smart thermostats, appliance rebates, and business efficiency upgrades. PSEG Power operates nuclear generation assets including Salem and Hope Creek plants. The company has announced a $22.5 billion to $25.5 billion regulated capital spending plan through 2030.

Differentiator

Problem solved

Functional benefit

Brands

• PSE&G EV Charging Program: New Jersey's largest utility-led EV charging program deploying chargers across residential, business, and public spaces

Products and services

• PSE&G Electric and Gas Distribution (New Jersey) Regulated electric and natural gas distribution service for residential, commercial, and industrial customers across New Jersey, providing account management, bill payment, and utility service through the PSEG NJ Public portal.
• PSEG Long Island Electric Service Regulated electric distribution service for customers in Long Island and the Rockaways, New York, providing account management, billing, and utility service through the PSEG Long Island portal.
• PSEG Power Nuclear Generation Power generation services through PSEG Power, operating the Salem and Hope Creek nuclear generating stations that supply over 40% of New Jersey's energy.
• PSE&G EV Charging Program Utility-led EV charging infrastructure program deploying chargers across residential, business, and public spaces in New Jersey, with 28,000 chargers installed as of October 2025, customer incentives, and make-ready infrastructure support.
• PSE&G Energy Efficiency Programs State-mandated energy efficiency initiatives for residential and business customers, including home energy assessments, smart thermostats, appliance rebates, and business efficiency projects, achieving approximately 3.1 million MWh of electric savings since launch.

Quantifiable outcome

• Nearly $900 million in annual customer savings from energy efficiency programs
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• DoorDash, FanDuel, DraftKings (World Cup Sponsors)minorGTM or Marketing Partner · 1 January 2026DoorDash, FanDuel, and DraftKings are among the corporate sponsors that enabled New Jersey to reduce World Cup transit fares from $150 to $98 at MetLife Stadium. PSEG is listed alongside these sponsors as supporting reduced transit costs for international visitors for the 2026 FIFA World Cup.
• TAPintominorGTM or Marketing Partner · 1 January 2026PSE&G serves as the exclusive weather sponsor for TAPinto, a network of nearly 100 local news platforms covering 150 municipalities in New Jersey, with its own featured column and exclusive advertising across over 25 municipalities as part of a 2026 marketing partnership.
• ØrstedcoreStrategic or Co-development Partner · 1 June 2025Ørsted entered a June 2025 strategic partnership with PSEG for offshore wind projects along the US East Coast. Ørsted is a leading offshore wind developer, and the partnership positions PSEG as a local partner for offshore wind development, leveraging PSEG's regulated utility infrastructure and New Jersey market position.

Scale indicators17 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• ConEdison: ConEdison is a regulated electric and gas utility serving New York City and Westchester, the most directly comparable peer to PSEG given the overlapping Northeast regulated T&D franchise model, similar customer base, and comparable regulatory structure to PSE&G and PSEG Long Island.
• Exelon: Exelon is a pure-play regulated T&D utility operating across multiple Mid-Atlantic and Midwest states. Its business model of regulated rate-base growth driven by grid investment is closely aligned with PSEG's strategy and earnings growth profile.
• Eversource Energy: Eversource is a New England regulated electric, gas, and water utility with a similar regulated monopoly franchise structure and active energy efficiency and clean energy programs, making it a strong comparable to PSEG's regulated utility operations.
• National Grid: National Grid is a regulated electric and gas utility serving the Northeast US and UK. Its combination of regulated T&D operations, gas distribution, and active clean energy transition programs closely mirrors PSEG's PSE&G franchise.

Broad incumbents

• Duke Energy: Duke Energy is one of the largest US regulated electric utilities with a diversified generation portfolio including nuclear. Its scale, regulated rate base, and nuclear operations make it a broad comparable for PSEG's integrated utility model.
• Dominion Energy: Dominion Energy is a large regulated electric and gas utility with significant nuclear generation and an active energy transition strategy. Comparable to PSEG in regulated T&D scale, nuclear assets, and clean energy investment plans.
• Southern Company: Southern Company is a major US regulated utility with nuclear generation (Vogtle) and large capex plans. Its regulated earnings growth model and mixed generation portfolio are comparable to PSEG's strategic direction.
• NextEra Energy: NextEra Energy is the largest US renewable energy generator and parent of Florida Power & Light. Its combination of regulated utility (FPL) and competitive renewables (Energy Resources) provides a strategic comparable for PSEG's nuclear and offshore wind ambitions.

Emerging players

• Ørsted: Ørsted is a global offshore wind leader and PSEG's strategic partner on US East Coast offshore wind projects. Comparable as a thematic partner and emerging offshore wind developer overlapping PSEG's renewable growth strategy.
• ChargePoint: ChargePoint is a major EV charging network operator. Comparable as a peer in the EV charging space where PSEG is deploying 45,000 chargers, though PSEG operates as a utility-led program rather than a competitive charging network.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about PSEG Energy Holdings