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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.


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