NEWARK, N.J., May 24, 2017 /PRNewswire/ -- Public Service
Enterprise Group (NYSE:PEG) subsidiary company, PSEG Power, today
reported its results from the PJM Capacity Auction for the planning
year 2020/2021. The company cleared approximately 7,800
megawatts (MWs) at a weighted average clearing price of
$174 per megawatt-day. This was the
first planning year that all capacity clearing the auction had to
meet PJM's capacity performance requirements.
About PSEG:
PSEG Power LLC is an independent power
producer that generates and sells electricity in the PJM,
New York and New England wholesale
power markets.
PSEG Power LLC is a subsidiary of Public Service Enterprise
Group (PSEG), a diversified energy company (www.pseg.com).
Forward-Looking Statements
The statements contained
in this communication about our and our subsidiaries' future
performance, including, without limitation, future revenues,
earnings, strategies, prospects, consequences and all other
statements that are not purely historical, are "forward-looking
statements" within the meaning of The Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are
subject to risks and uncertainties, which could cause actual
results to differ materially from those anticipated. Such
statements are based on management's beliefs as well as assumptions
made by and information currently available to management.
When used herein, the words "anticipate," "intend," "estimate,"
"believe," "expect," "plan," "should," "hypothetical," "potential,"
"forecast," "project," variations of such words and similar
expressions are intended to identify forward-looking
statements. Factors that may cause actual results to differ
are often presented with the forward-looking statements themselves.
Other factors that could cause actual results to differ materially
from those contemplated in any forward-looking statements made by
us herein are discussed in our Annual Report on Form 10-K and
subsequent reports on Form 10-Q and Form 8-K filed with the
Securities and Exchange Commission (SEC), and available on our
website: http://investor.pseg.com/sec-filings. All of the
forward-looking statements made in this communication are qualified
by these cautionary statements and we cannot assure you that the
results or developments anticipated by management will be realized
or even if realized, will have the expected consequences to, or
effects on, us or our business, prospects, financial condition,
results of operations or cash flows. Readers are cautioned not to
place undue reliance on these forward-looking statements in making
any investment decision. Forward-looking statements made in this
communication apply only as of the date hereof. While we may
elect to update forward-looking statements from time to time, we
specifically disclaim any obligation to do so, even in light of new
information or future events, unless otherwise required by
applicable securities laws.
From time to time, PSEG, PSE&G and PSEG Power release
important information via postings on their corporate website
at http://investor.pseg.com. Investors and other interested
parties are encouraged to visit the corporate website to review new
postings. The "Email Alerts" link
at http://investor.pseg.com may be used to enroll to
receive automatic email alerts and/or Really Simple Syndication
(RSS) feeds regarding new postings.
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visit:http://www.prnewswire.com/news-releases/pseg-power-reports-pjm-auction-results-300463097.html
SOURCE Public Service Enterprise Group (PSEG)