- Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* IZZO RALPH	2. Issuer Name and Ticker or Trading Symbol PUBLIC SERVICE ENTERPRISE GROUP INC [ PEG ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __ X __ Director _____ 10% Owner __ X __ Officer (give title below) _____ Other (specify below) Chairman, President and CEO
(Last) (First) (Middle) 80 PARK PLAZA	3. Date of Earliest Transaction (MM/DD/YYYY) 10/17/2011
(Street) NEWARK, NJ 07102 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/17/2011		M		25000.0000	A	$20.385	283858.2678	D
Common Stock	10/17/2011		S		100.0000	D	$33.145	283758.2678	D
Common Stock	10/17/2011		S		100.0000	D	$33.133	283658.2678	D
Common Stock	10/17/2011		S		100.0000	D	$33.09	283558.2678	D
Common Stock	10/17/2011		S		100.0000	D	$33.0701	283458.2678	D
Common Stock	10/17/2011		S		200.0000	D	$33.205	283258.2678	D
Common Stock	10/17/2011		S		200.0000	D	$33.08	283058.2678	D
Common Stock	10/17/2011		S		300.0000	D	$33.115	282758.2678	D
Common Stock	10/17/2011		S		400.0000	D	$33.24	282358.2678	D
Common Stock	10/17/2011		S		400.0000	D	$33.141	281958.2678	D
Common Stock	10/17/2011		S		450.0000	D	$33.1901	281508.2678	D
Common Stock	10/17/2011		S		500.0000	D	$33.195	281008.2678	D
Common Stock	10/17/2011		S		600.0000	D	$33.135	280408.2678	D
Common Stock	10/17/2011		S		600.0000	D	$33.13	279808.2678	D
Common Stock	10/17/2011		S		650.0000	D	$33.19	279158.2678	D
Common Stock	10/17/2011		S		800.0000	D	$33.21	278358.2678	D
Common Stock	10/17/2011		S		895.0000	D	$33.3	277463.2678	D
Common Stock	10/17/2011		S		1000.0000	D	$33.16	276463.2678	D
Common Stock	10/17/2011		S		1000.0000	D	$33.11	275463.2678	D
Common Stock	10/17/2011		S		1100.0000	D	$33.23	274363.2678	D
Common Stock	10/17/2011		S		1100.0000	D	$33.15	273263.2678	D
Common Stock	10/17/2011		S		1200.0000	D	$33.18	272063.2678	D
Common Stock	10/17/2011		S		1400.0000	D	$33.17	270663.2678	D
Common Stock	10/17/2011		S		1500.0000	D	$33.14	269163.2678	D
Common Stock	10/17/2011		S		1500.0000	D	$33.131	267663.2678	D
Common Stock	10/17/2011		S		1500.0000	D	$33.12	266163.2678	D
Common Stock	10/17/2011		S		2200.0000	D	$33.2	263963.2678 ⁽¹⁾	D
Common Stock								732.5400	I	By 401(k)

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options	$20.385	10/17/2011		M			25000.0000	10/18/2004	10/18/2013	Common Stock	25000.0000	$20.385	350000.0000	D

Explanation of Responses:
( 1)	Includes 5,105 shares of common stock retained following the exercise of options pursuant to a 10b5-1 Plan. All other shares acquired through the exercise of options were sold to pay transaction costs and related taxes.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
IZZO RALPH 80 PARK PLAZA NEWARK, NJ 07102	X		Chairman, President and CEO

Signatures
A. Battista, As attorney in fact for R. Izzo		10/18/2011
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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