June 18, 2008
Public Service Enterprise Group Names Joe Hopf As President of PSEG Energy Resources & Trade
NEWARK, N.J., June 18 /PRNewswire-FirstCall/ -- Public Service Enterprise Group (PSEG) today announced the election of Clarence (Joe) Hopf Jr. as president of PSEG Energy Resources & Trade, effective June 30.
Hopf has been president of PPL EnergyPlus in Allentown, PA since 2006, responsible for managing PPL's wholesale/retail marketing and trading operation in the United States. He has held a variety of posts with increasing responsibility in the electric generation and energy trading business since 1981. Prior to joining PPL in 2005 as a senior vice president, he served as a vice president at Goldman Sachs in New York and before that, at AmerenEnergy in St. Louis.
"Joe has an excellent record of accomplishment in the energy trading field, and he will bring considerable talents and strengths to our trading operations here at PSEG," said William Levis, president of PSEG Power. PSEG Energy Resources & Trade is a subsidiary of PSEG Power, and Hopf will report to Levis.
Hopf's responsibilities will include management of PSEG Power's generation portfolio and basic gas supply service, purchasing of fuel, mid- and back- office operations as well as trading and marketing activities.
Hopf will replace Kevin J. Quinn, who has led PSEG Energy Resources & Trade since December, 2006. Quinn will become vice president-corporate planning for PSEG, reporting to Thomas M. O'Flynn, executive vice president and chief financial officer of PSEG and president of PSEG Energy Holdings.
"Kevin's tenure at PSEG Resources & Trade will provide a valuable understanding of the strategic implications of the energy markets as he focuses on helping to grow the overall company," O'Flynn said. "We look forward to his contributions in the corporate planning arena."
Quinn joined PSEG in 1991 and has held various posts in planning and development. Previously, he worked as management consultant for McKinsey and Company and an engineer for Exxon Research and Engineering Company.
Public Service Enterprise Group (PSEG) 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 the state's population and has been a winner of the ReliabilityOne Award for superior electric system reliability. PSEG Services Corporation provides corporate support to the operating businesses.
Public Service Enterprise Group (PSEG)
CONTACT: Denise Denk of PSEG, +1-973-430-6336
Web site: http://www.pseg.com/