in News Departments > Projects & Contracts
print the content item

New Jersey-based energy company Public Service Enterprise Group (PSEG) says it will spend approximately $12 billion in capital investments during the next five years, primarily driven by increased investments in transmission to maintain reliability. The three principal subsidiaries of the company are PSEG Power, Public Service Electric and Gas Co. (PSE&G) and PSEG Energy Holdings.

According to PSEG, PJM Interconnection is mandating upgrades to relieve projected system overloads and maintain reliability for millions of customers. As such, PSE&G is implementing a five-year capital program of $10 billion. Ralph LaRossa, PSE&G president and chief operating officer, says the utility's transmission investments of $6.8 billion account for about 70% of PSE&G's capital investments and represent 60% of PSEG's total capital expenditures during the next five years.

LaRossa adds that on Jan. 1, PSEG began operating the Long Island Power Authority's electric system under a 12-year operating services agreement.

"The utility has five major projects under way, with an additional 345-kilovolt line slated to be in service by June 2018," comments Ralph Izzo, PSEG chairman and CEO.

Izzo reports that PSEG is poised to make additional investments under its proposed Energy Strong program that would harden New Jersey's electric and gas delivery systems against severe weather. A decision on the proposal by the New Jersey Board of Public Utilities is expected as early as April.

Bill Levis, president and chief operating officer of PSEG Power, notes the generation subsidiary is adding capacity by increasing the output at its nuclear facilities by 130 MW and at its combined cycle power plants by 150 MW.

Hybrid Energy Innovations

Hybrid Energy Innovations 2015
Latest Top Stories

To Help Combat Costly Electricity Theft, Emerging Markets Turn To Smart Grid Infrastructure

According to a new report, the world loses a whopping $89.3 billion to electricity theft annually, and emerging country markets are feeling a majority of the pain.


Report: Utilities Face Big Revenue Cuts From Distributed Energy Resources

According to a new report from Accenture, the growth of solar and other resources, such as energy storage, could mean significant losses for utilities.


NextEra To Acquire Hawaiian Electric In $4.3 Billion Merger Deal

If approved, the agreement between the two energy companies would produce one of North America's largest renewable energy players.


EPA Racks Up Over 1.6 Million Comments On Carbon Pollution Plan

Months after the U.S. Environmental Protection Agency released its Clean Power Plan, which will create new regulations for existing power plants, the agency says it has received loads of feedback to consider.


Smart Grid Interest Continues To Spread Among U.S. Rural Utilities

A new survey gauges rural smart grid efforts across the country and offers key findings, one of which is that nearly all utilities polled are doing something to modernize their systems.

S&C Electric_id176
edf_id180