2014

U.S. Deputy Secretary of Energy Meets with N.J. Business Leaders to Discuss Need for Reliable, Resilient Electric Grid

NEWARK, N.J., Jan. 17, 2014 /PRNewswire/ -- United States Deputy Secretary of Energy Daniel Poneman visited the Newark offices of Public Service Enterprise Group this week to discuss the importance of strengthening and modernizing electric infrastructure to better withstand extreme weather and a changing climate.

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Poneman was the featured guest at a roundtable hosted by PSEG CEO Ralph Izzo and convened by the non-profit Business Forward. Participants included an array of N.J. business and community leaders, many of whom publicly support PSE&G's efforts to build a more resilient and advanced energy infrastructure.

Citing an August 2013 report released by the Obama Administration called "Economic Benefits of Increasing Electric Grid Reliance to Weather Outages," Poneman noted that while federal investments could point the way to a more resilient grid, investments in infrastructure resiliency would have to be much broader across both the public and private sectors.

Raymond M. Pocino, vice president and eastern regional manager of the Laborers International Union of North America (LIUNA), touted the roundtable discussions with Poneman as important and timely. "Investments in infrastructure resiliency not only make our grid more resilient but also provide extended benefits into the communities surrounding those investments," Pocino said.

Pocino said PSE&G's Energy Strong is a perfect example of how infrastructure investments can make New Jersey a better place to live and work and do business.  "The last several years have been difficult for those in the construction industry. PSE&G's Energy Strong proposal is a forward- looking plan that would not only upgrade our state's infrastructure, but also put many construction workers back to work at a time when work is desperately needed.  The plan would create nearly 6,000 jobs," he said.

"The U.S. Department of Energy is clearly focused on the link between resilient electric infrastructure and the economic well-being and quality of life for our communities," Izzo said. "We were pleased to host Deputy Secretary Poneman because we share the view that when it comes to strengthening our system to withstand extreme weather events, the cost of inaction is too high to bear."

Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of approximately $10 billion, and three principal subsidiaries: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Energy Holdings.  

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SOURCE Public Service Enterprise Group (PSEG)



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