PSEG Announces Infrastructure Investment Program - Quick Facts

(RTTNews) - PSEG (PEG) outlined a plan to invest $14 billion to $17 billion over the next five years which will help New Jersey become a clean energy leader. The company's infrastructure program, an expansion of previously disclosed plans to invest $11.5 billion to $13.2 billion over the five-year period ending in 2022, includes a proposal for a significant increase in the utility's investments in energy efficiency, as well as the first major investment in electric vehicle infrastructure. The program, if approved, provides an opportunity for annual growth of 8 percent to 10 percent in PSE&G's rate base.

PSEG estimates that the energy efficiency program will generate approximately 5,000 sustainable direct and indirect jobs over the six-year life of the program, reduce CO2 emissions by 24 million tons and reduce energy use by 40 million MWh of electricity and 675 million therms of natural gas.

PSEG further announced that PSEG Power, the company's merchant generation and power marketing business, will continue to transition to a more efficient, productive and clean power generation fleet.