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public serviceenterprise group Investor 06/05/08

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  • 1. Investor News NYSE:PEG For further information, contact: Kathleen A. Lally, Vice President – Investor Relations Phone: 973-430-6565 Greg McLaughlin, Sr. Investor Relations Analyst Phone: 973-430-6568 Yaeni Kim, Sr. Investor Relations Analyst Phone: 973-430-6596 June 5, 2008 PSE&G PROPOSES ROUTES FOR NEW POWER LINE TO ASSURE ELECTRIC SYSTEM RELIABILITY AND MEET GROWING CUSTOMER DEMAND Alternative routes identified in Morris, Sussex and Warren counties Public invited to attend workshops in each county Public Service Electric and Gas Company (PSE&G) today announced possible routes for a new power line that will assure the reliability of the transmission system and meet growing demand for safe, reliable power in the region. The new line, which is required by PJM Interconnection, the region’s independent system operator, will help prevent overloads and possible blackouts on the power grid, such as the one that occurred in the Northeast in August 2003. PSE&G will partner with PPL Electric Utilities, with headquarters in Allentown, PA, to build the new power line, which will carry 500 kilovolts of electricity. The line will connect PSE&G’s switching facilities in Roseland, NJ, with PPL’s Susquehanna switching station near Berwick, PA. “This new transmission line is essential for New Jersey to meet the growing demand for electricity over the long term,” said Ralph LaRossa, president and chief operating officer of PSE&G. “PJM, which oversees reliability planning for the region, has identified a number of areas in which additional transmission facilities are needed to ensure the continued reliability of our region’s electric grid and our state’s economic growth. PJM assigned the responsibility to build this line last June.” Without the new line, PJM is projecting overloads on existing power lines starting as early as 2013. The danger is greatest during periods when demand is highest, such as the hottest days of summer, or when other power lines or equipment are unavailable because of maintenance. These overloads – the result of steadily increasing demand for power without a corresponding increase in the number of power lines to carry it – could cause brownouts or blackouts for PSE&G customers and throughout the region, according to PJM. “Electric use in our region is increasing about 1.6 percent per year,” LaRossa said. “People are using more electricity to power up everything from big-screen TVs to the latest kitchen appliances. We encourage our customers to use energy wisely, and are at the forefront of promoting energy efficiency and renewable energy sources. Yet these efforts alone will not address the future energy needs of New Jersey. This transmission reinforcement is a major investment in the future of the region’s power grid – ensuring that we can continue to provide the safe, highly reliable power our customers have come to expect.”
  • 2. After extensive review of potential transmission pathways in northern New Jersey, PSE&G has identified three possible routes for the new line. • Route A begins in Montague Township, Sussex County, and proceeds in a south- southeast direction to Jefferson Township, Morris County. The route then heads east to Montville Township and turns south to Roseland Borough, Essex County. • Route B begins in Hardwick Township, Warren County, proceeds east to Andover Township, Sussex County, and on to Jefferson Township, Morris County. The route continues east to Montville Township and then turns south to Roseland Borough, Essex County. • Route C begins in White Township, Warren County, and proceeds in an easterly direction through Mansfield Township. The route continues east through Washington Township, Morris County, then to Roseland Borough, Essex County. To minimize the potential impact on nearby residents and the environment, the three routes follow existing power lines or existing power line rights of way as much as possible. A map of the proposed routes is available on the project’s Web site at reliabilityproject.pseg.com. A public workshop to answer residents’ questions and obtain their input has been scheduled in each of the three counties that contain one or more of the routes. “We understand that this kind of work can cause concerns for nearby residents,” LaRossa said. “PSE&G has a long-standing tradition of balancing the need for projects such as these with our responsibility to safeguard the environment and respect the needs of our customers. We will do our best to select the route that has the least impact on communities and residents.” PSE&G is conducting an extensive public outreach and communications program about the new line, including: • Full details on the project Web site, reliabilityproject.pseg.com, • Meetings with local officials in the towns along each of the routes, key government agencies and newspaper editors and reporters, • Newspaper and radio advertisements to announce the locations of the public workshops, and • An e-mail address for comments, reliabilityproject@pseg.com. PSE&G expects to select a preferred route in July, and begin the extensive approval and permitting process in late summer. Pending approvals, construction would start in late 2009 with completion of the new line in time for the summer of 2012.
  • 3. Public Workshop Schedule: PSE&G has scheduled public workshops in each of the three counties that contain the proposed routes. The public is invited to attend between the hours of 4 p.m. and 8 p.m. to speak with company representatives about the new power line. • Monday, June 23 -- Sussex County Community College, One College Hill Road, Newton, NJ 07860 • Tuesday, June 24 – The Frelinghuysen Arboretum, 53 East Hanover Avenue, Morristown, NJ 07960 • Wednesday, June 25 -- Warren County Community College, 475 Route 57 West, Washington, NJ 07882 Note to Editors: A downloadable file of the map of possible routes – along with additional information about the Susquehanna-Roseland project – is available at reliabilityproject.pseg.com. Click on Project Overview for the map. Information about the PJM Interconnection can be found at www.pjm.com. Public Service Electric and Gas Company (PSE&G) is New Jersey’s oldest and largest regulated gas and electric delivery utility, serving nearly three-quarters of the state’s population. PSE&G is the winner of the ReliabilityOne Award for superior electric system reliability. PSE&G is a subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE:PEG), a diversified energy company (www.pseg.com).

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