HOLLYWOOD, Fla., June 14 /PRNewswire-USNewswire/ -- The Edison
Electric Institute (EEI) today named Public Service Enterprise
Group (PSEG) recipient of the 2010 Edison Award, the electric
utility industry's highest honor, recognizing outstanding
leadership and exceptional contributions to the industry. The
announcement was made at EEI's Annual Convention and Expo in
Hollywood, Fla.
The award is presented annually by EEI and recognizes U.S. and
international electric utilities for their innovation and role in
advancing the industry. A panel of former electric company
chief executives selected PSEG for the 83rd annual award.
PSEG was recognized by the judges for its bold and innovative
growth strategy that is geared toward clean energy, energy
efficiency and jobs. Specifically, the company focused on combating
climate change and creating jobs through energy efficiency efforts,
the development of renewable resources and developing clean central
station energy, investing up to $5
billion in the process.
PSEG is investing in energy audits for thousands of homes and
businesses in New Jersey, while
also installing innovative energy-efficient and long-lasting
streetlights. PSE&G, the company's New Jersey regulated gas and electric utility
subsidiary, is installing solar panels on 200,000 utility poles,
and is constructing the two largest solar farms in the state on
company property.
PSEG Power, PSEG's merchant generation subsidiary is investing
over $1.5 billion in clean central
station power, including the most advanced pollution-control
technologies for its New Jersey
coal plants, while also expanding capacity and extending the life
of its nuclear facilities.
An unregulated subsidiary, PSEG Solar Source is producing
electricity at two large scale solar farms in Florida and Ohio. PSEG is also exploring development
of a 350-MW wind farm off the southern coast of New Jersey, and has invested $20 million in compressed-air energy storage.
PSEG's collective efforts have created thousands of green jobs
for the state of New Jersey.
"PSEG's outstanding achievements have touched all parts of the
economy, leading to more efficient use of energy and generating
more jobs," said EEI President Tom
Kuhn. "The company's comprehensive strategy serves as an
important roadmap on the path toward a low-carbon economy."
"We received this award for doing what all great utilities do:
working tirelessly to address society's most pressing
needs. In the past, that was delivering gas and electricity
safely. Today, it is also protecting the environment and
creating jobs," said Ralph Izzo,
president, chairman and CEO, PSEG. "I am honored and gratified to
accept this award on behalf of PSEG's 10,000 employees. Their
dedication to operational excellence has given us the financial
strength to make strong, disciplined investments to both grow our
businesses and help improve the environment."
Public Service Enterprise Group (NYSE: PEG) is a publicly traded
diversified energy company with annual revenues of more than
$12 billion, and three principal
subsidiaries: PSEG Power, Public Service Electric and Gas Company
(PSE&G) and PSEG Energy Holdings.
The Edison Electric Institute (EEI) is the association of
U.S. shareholder-owned electric companies. Our members serve 95
percent of the ultimate customers in the shareholder-owned segment
of the industry, and represent approximately 70 percent of the U.S.
electric power industry. We also have more than 65 International
electric companies as Affiliate members, and more than 170 industry
suppliers and related organizations as Associate members.
SOURCE Edison Electric Institute