PSEG Says Utilities Can Play a Critical Role in Economic Recovery

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 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.

SOURCE Public Service Enterprise Group (PSEG)

Jenn Kramer, +1-973-430-6027, Public Service Enterprise Group (PSEG)