PSE&G 2006 Annual Report Download

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making things work
pseg 2006 annual report
pseg 2006 annual report

Table of contents

  • Page 1
    making things work pseg 2006 annual report

  • Page 2
    ...in assets, is one of the nation's leading wholesale energy producers and most reliable transmission and delivery organizations. contents 2 Letter from the Chief Executive Officer 8 Letter from the President of PSEG 12 Making Things Work 24 Board of Directors 25 Form 10-K ibc Stockholder Information

  • Page 3
    ... materially different. Historical results are not necessarily indicative of future earnings. For more information, please refer to PSEG reports that are filed periodically with the Securities and Exchange Commission. Dollars in millions, where applicable 2006 2005 % Change Total Revenues Income...

  • Page 4
    making performance work

  • Page 5
    pseg 2006 annual report pp. 2/3 letter from the chairman of the board & chief executive officer e. james ferland I am pleased to report that 2006 was a year of significant, continued achievement for your company. We generated solid earnings and cash flow, set new company records for electric ...

  • Page 6
    ... reduced international risk and exposure by selling a number of overseas assets; and •We are also benefiting from a period of higher energy prices. These developments have not gone unnoticed by the financial community. Our stock price was approximately 50 percent higher at year end 2006 than...

  • Page 7
    ... 2006 annual report pp. 4/5 We remain a company known for keeping our commitments to customers, employees, communities and, not least, shareholders who invest their hardearned money with us. PSEG Energy Holdings PSEG Energy Holdings, our business with a mix of domestic and international energy...

  • Page 8
    making transition work

  • Page 9

  • Page 10
    ... assembling a talented and highly capable leadership team, and especially pleased that the team reflects our continuing commitment to increase the representation of women and minorities in officer positions. A number of other staff positions that became open in anticipation of the merger need to be...

  • Page 11
    pseg 2006 annual report pp. 8/9 making the vision work

  • Page 12
    ... pursue opportunities in new energy markets as they develop - concentrating on areas where our expertise lies. Global climate change and other environmental concerns will create opportunities for new, clean generation. In the fossil generation area, we are examining questions such as at what point...

  • Page 13
    ... our full support for the effort launched by New Jersey Governor Jon Corzine to develop a comprehensive Energy Master Plan. We will be active in this and many initiatives to promote a sustainable energy future that works for customers, the environment and your company. In the area of workforce...

  • Page 14
    we make your investment rewarding

  • Page 15
    ... 2006 annual report pp. 12/13 financial performance PSEG's reliability in keeping the lights on and gas flowing for customers strongly parallels our solid, steady performance for investors. Excellence in operations is a key way we define success - and a key to shareholder value. That's been true...

  • Page 16
    ... to meet vital energy needs, year round and around the clock. As evidence of our focus on continuous improvement, we set new company records for electricity output in 2006. The Salem and Hope Creek nuclear units in southern New Jersey anchored this strong performance - and our fossil units also did...

  • Page 17
    pseg 2006 annual report pp. 14/15 we make assets work harder

  • Page 18
    we make lives better

  • Page 19
    pseg 2006 annual report pp. 16/17 reliable service Energy is one of life's necessities. We take our responsibilities as an energy business seriously. Our New Jersey utility, PSE&G, has long defined the standard in delivering electricity and gas safely and reliably to make life better for millions ...

  • Page 20
    .... In this vein, PSEG is voluntarily targeting an 18 percent reduction in its carbon dioxide emissions rate by 2009. We are reducing our impact elsewhere as well. Our new Bethlehem Energy Center (BEC) near Albany, New York produces energy far more efficiently than the station it replaced, while...

  • Page 21
    pseg 2006 annual report pp. 18/19 we make our world cleaner

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    we help people reach their potential

  • Page 23
    ... empowered to achieve excellence - and where their contributions are recognized and rewarded. In support of the diverse and highly skilled workforce of the future, PSEG is investing in innovative programs that open doors wider to outstanding career opportunities. Our Energy Utility Technology degree...

  • Page 24
    ... rehabilitation hospital in New Brunswick, New Jersey. We are also active in New Jersey After 3 to expand the range and quality of enriching after-school programs for children across the state. The way we look at it, Public Service is more than our first name. It's a key goal of our company and...

  • Page 25
    pseg 2006 annual report pp. 22/23 we make communities stronger

  • Page 26
    ... of PSEG Services R. Edwin Selover Executive Vice President and General Counsel; Executive Vice President and General Counsel of PSE&G, PSEG Energy Holdings, PSEG Power and PSEG Services Elbert C. Simpson President and Chief Operating Officer of PSEG Services board of directors Caroline Dorsa has...

  • Page 27
    ...Analysts and Institutional Investors For information contact: Vice President - Investor Relations 973-430-6565 Continental Stock Transfer and Trust Company 17 Battery Place, 8th Floor New York, NY 10004 Enterprise Direct PSEG offers Enterprise Direct, a stock purchase and dividend reinvestment plan...

  • Page 28
    public service enterprise group incorporated 80 park plaza newark, nj 07102 973.430.7000 www.pseg.com