PSE&G 2004 Annual Report Download - page 9

Turning to key objectives for the PSEG family of companies
in 2005:
PSEG Power’s number-one goal is to attain consistently excellent
plant operations, with safety first, as the key to capturing
opportunities in the marketplace. Our nuclear services operat-
ing contract with Exelon should materially assist us in reaching
this objective. Another important goal for PSEG Power will
be to continue using successful marketing strategies—in
New Jersey and other markets—to lock in prices for most
of its anticipated output.
PSE&G’s main objective in 2005 will be to continue doing what
it does so well: The essence of its business is to provide safe,
reliable service for its customers at reasonable costs. PSE&G’s
fundamental mission remains unchanged in serving customers
and communities across New Jersey.
PSEG Energy Holdings’ goal in 2005 will be to continue its
focus on increasing the efficiency and returns of its existing
assets and seeking to opportunistically monetize investments
that may no longer be a strategic fit.
We also will continue to focus on reducing debt, maintaining and
enhancing credit quality, and preserving substantial liquidity.
Risk management will remain a key goal across our businesses.
5 YEAR CUMULATIVE COMPARATIVE RETURNS
AS OF DECEMBER 31, 2004
PSEG’s total return for the last five years has outpaced
three major market indices. This chart shows the
value on December 31 of each year of $100 invested
on December 31, 1999. The value assumes reinvested
dividends.
PSEG
S&P Electrics
Dow Jones Utilities
S&P 500
$200
$150
$100
$ 50
$ 0
1999 2002 2003 200
4
2000 2001
OVER THE PAST FIVE YEARS PSEG DELIVERED
A TOTAL SHAREHOLDER RETURN OF OVER
93 PERCENT, OUTPERFORMING THE MAJOR
UTILITY INDUSTRY AVERAGES AND CONSIDERABLY
OUTPACING THE RETURN OF THE S&P 500.