PSE&G 2011 Annual Report Download - page 6

Investing in New, Clean
and Effi cient Generation
The energy markets in our region are working to
provide clean, effi cient generation and other innovative
energy solutions, including conservation. We will
continue to support solutions that promote investment and
economic growth, while keeping costs as low as possible
for customers.
A little more than a year ago, we completed the
installation of $1.3 billion in advanced emissions controls
at our Mercer and Hudson coal-fueled stations. These
projects created 1,600 construction jobs and enabled us
to add full-time positions. The plants are now two of the
cleanest coal-fueled power plants in America.
We are building a total of 400 megawatts of new
peaking generation in New Jersey and Connecticut. We
expect these new units to be available this June.
Improvements have enabled us to expand the capacity
of our existing nuclear units, and these efforts continue.
Meanwhile, new nuclear remains an important option
over the long term. We are seeking an early site permit
for an additional nuclear unit at our existing nuclear site in
southern New Jersey to keep this option open.
Contributing to a
Brighter Future
Our commitment to New Jersey, and to all the
communities we serve, remains as strong as ever. PSEG’s
impact is especially large in New Jersey. It includes $1
billion in wages paid annually, $1 billion spent with New
Jersey businesses, $158 million paid to New Jersey retirees
and survivors, and $375 million paid in local and state
taxes. Approximately $100 million of the almost $700
million we pay annually in dividends goes to shareholders
in New Jersey. Our energy contributes to the quality of life
everywhere we operate.
PSEG has gained increasing recognition as a leader in
promoting a sustainable future. In 2011, PSEG was included
for the second time in the Dow Jones Sustainability World
Index and was one of only two U.S. utilities so selected. In
addition, PSEG was named for the fourth time to the Dow
Jones Sustainability Index for North America.
We believe the future can be even brighter for
an operationally excellent, integrated generation,
transmission and distribution business such as PSEG. We
continue to benefi t from a solid business mix, including a
large merchant energy business anchored by a well-run,
low-cost generation fl eet, and a regulated utility that wins
reliability awards year after year. Our environmental profi le
continues to set us apart from many others in the industry.
Above all, we have a terrifi c workforce. I wish to thank
our employees for all their fi ne work in 2011. With their
continued support, I am confi dent that the best is yet to
come for a leading company and its people in providing
safe, reliable, economic and green energy.
In closing, I would like to thank our shareholders for
their continued loyalty and support. We will continue
working hard each day to justify your trust and confi dence.
Sincerely,
Ralph Izzo
Chairman, President and Chief Executive Offi cer
Public Service Enterprise Group
February 28, 2012