PEG Public Service Enterprise Group Inc

Izzo outlines $1.6 billion in utility investments that would combat climate change, improve energy security and create jobs NEW BRUNSWICK, N.J., March 24 /PRNewswire-FirstCall/ -- PSEG Chairman, President and CEO Ralph Izzo called today for urgent action on energy and jobs while speaking at a conference at the Heldrich Center for Workforce Development. "New Jersey can be a leader in creating a clean energy industry that will stimulate the economy, put people back to work, fight climate change and improve energy security," Izzo said. "But we must act quickly to ensure we don't let opportunity pass us by." Policymakers, educators, unions, non-profits and business leaders from both green and traditional energy companies joined together at Rutgers University for a substantive policy discussion intended to improve efforts to develop an energy workforce. In a keynote speech at the conference Izzo spoke of three big challenges facing the nation: an ailing economy, a warming planet and a reliance on foreign oil which is affecting the nation's energy security. He pointed toward a recovery led by the private sector, encouraged by the public sector and supported by the American people. He called this a "historic opportunity to invest in energy," and outlined $1.6 billion in investments proposed by the company's utility, PSE&G, to combat climate change, improve energy security and create jobs. They include: -- $700 million in accelerated infrastructure investments. -- $190 million to help bring the benefits of conservation to more residents and small businesses in NJ cities. -- $773 million to bring solar power into every community PSE&G serves. "The sooner these proposals receive a green light from our regulators, the sooner we may be able to leverage these programs to attract federal dollars," he said. "While speeding the investment, we need to prepare the future energy workforce. This could involve the largest recruiting, training and workforce development effort since the building of the electric grid a century ago," Izzo said. He talked about the importance of partnerships with community colleges and secondary and vocational schools, and said it is important to reach students at the point when they are starting to think about careers paths. The conference was co-sponsored by the John J. Heldrich Center for Workforce Development, a university-based research and policy center dedicated to raising the effectiveness of the American workplace by strengthening workforce education, placement and training programs and policies. "The roundtable brought together many of New Jersey's leading employers, educators, union officials, and government policymakers," said Dr. Carl Van Horn, Professor and Director at the Heldrich Center. "Our research shows that a coordinated approach by all these stakeholders is the key to aligning worker training with the next generation of jobs being created by the energy industry." For the complete text of Izzo's remarks, please visit http://www.pseg.com/. Public Service Enterprise Group (PSEG) (NYSE:PEG) is a publicly traded diversified energy company with annual revenues of more than $13 billion, and three principal subsidiaries: PSEG Power, PSEG Energy Holdings, and Public Service Electric and Gas Company (PSE&G). PSEG Power, one of the largest independent power producers in the U.S. has three main subsidiaries: PSEG Fossil, PSEG Nuclear, and PSEG Energy Resources & Trade. PSEG Energy Holdings has two main unregulated energy-related businesses: PSEG Global and PSEG Resources. PSE&G, New Jersey's oldest and largest regulated gas and electric delivery utility, serves nearly three-quarters of New Jersey's population. DATASOURCE: Public Service Enterprise Group (PSEG) CONTACT: Jenn Kramer, +1-973-430-6027, Public Service Enterprise Group (PSEG) Web Site: http://www.pseg.com/

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