By Robert Walton Utility Drive Reporter
Public Service Enterprise Group (PSEG) has completed the sale of its fossil fuel generation portfolio, including 6,750 MW in New Jersey, Connecticut, Maryland, and New York. That leaves the company more than 90% regulated and focused on reaching net-zero emissions by 2030, company leaders said Thursday during PSEG’s Q4 2021 earnings call with analysts.
PSEG is now focused on “clean energy and infrastructure investments to drive regulated utility growth ” PSEG CEO Ralph Izzo said. The company owns three nuclear units in New Jersey and expects they will remain in operation for almost 30 more years, he said.
The New Jersey Board of Public Utilities (BPU) in April extended zero-emission credit (ZEC) subsidies for the state’s nuclear plants. The ZEC process runs every three years, but Izzo said he expects the cycle to be lengthened rather than run through the same debates repeatedly.
Don’t miss energy news like this Click for free updates
