Ralph Izzo, president of PSEG, testified before the Senate Committee on Energy and Natural Resources calling for a national renewable portfolio standard (RPS) that would require a minimum percentage of electricity comes from renewable sources. Izzo argued that a national RPS would send a clear market signal to invest in renewable energy, help combat climate change, and create green jobs. PSEG has recently announced several renewable energy and energy efficiency initiatives in New Jersey, including a $105 million solar loan program, a $46 million energy efficiency program for urban areas, and proposals to invest in solar, offshore wind, and energy storage projects.

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IZZO CALLS FOR NATIONAL RENEWABLE ENERGY PORTFOLIO STANDARD
RPS will result in green jobs and help combat climate change
(Washington, DC – February 10,2009) -- Ralph Izzo, president, chairman and CEO, PSEG today
called for a national renewable portfolio standard (RPS) before the Senate Committee on Energy and
Natural Resources in Washington, D.C.
A RPS would set a minimum requirement for the percentage of electric power that comes from
renewable generation.
“We urgently need decisive federal action – not a patchwork of state and regional fixes but a strong,
progressive national energy policy. A national renewable energy portfolio standard is an essential
component of such an energy policy because it creates demand for technology that will transform the
way we generate electricity,” said Izzo. He added that a national RPS, “will send clear market signals
to companies like PSEG to increase their investment in renewable energy.”
In his testimony, Izzo indicated that aggressive investment in renewable energy will help our country
tackle the two major challenges we are currently facing: the challenge of climate change and the crisis
facing our national economy.
“With the right national policy, America can develop the world’s leading clean energy industry. We will
create good-paying green jobs. And we will develop new technologies that we can export all over the
world. Investment in renewable energy is a strategy for long-term growth.” He concluded by urging
the committee to support “sustainable investments to power our way out of this economic downturn.”
PSEG has recently announced several initiatives to combat climate change and to help create a more
vibrant economy, including:
• Solar-4-ALL. This morning, PSEG’s New Jersey regulated utility, PSE&G, filed a proposal
with the NJ Board of Public utilities a proposal to invest in, own and operate 120 megawatts of
solar installations in New Jersey. The program, called Solar4All, will install grid-connected
solar systems on schools, municipal buildings, low income housing complexes, non-profit
owned facilities, brownfields sites, PSE&G facilities and on 200,000 utility poles in its service
territory.
• Energy Efficiency. PSE&G has launched a $46 million energy efficiency program targeted to
urban centers in New Jersey. The program includes energy audits for homes, small
businesses and hospitals and programs and for the installation of insulation, programmable
thermostats and efficient lighting. PSE&G has proposed an additional $190 million expansion
of the program as part of a request by Governor Corzine for proposals from utilities that can
create jobs and stimulate the economy.
• Solar Loans. PSE&G has launched a 30 MW, $105 million solar loan program designed to
help finance investments in solar energy by residential and commercial property owners.
• Off shore wind. PSEG Global is a 50 percent owner in Garden State Off Shore Energy
(GSOE) that has proposed a 350 megawatt wind farm off the coast of New Jersey.

2. • Advanced energy storage. PSEG Global is a 50 percent owner of a joint venture, Energy
Storage and Power (ESP) that is promoting the next generation of underground compressed
air energy storage systems (CAES).
PSEG is a diversified energy company based in Newark, NJ (NYSE:PEG). For Izzo’s complete
testimony, go to the pseg.com.