June 19, 2008
PSEG Courting Diverse Suppliers
NEWARK, N.J., June 19 /PRNewswire-FirstCall/ -- PSEG is working to expand its knowledge of diverse suppliers in an effort to increase the amount of business it awards this group. Minority- and-women-owned business enterprises (MWBEs) are encouraged to register their company with PSEG via the company's new supplier diversity website, http://suppliers.pseg.com/.
In 2007, PSEG spent approximately $125 million with certified MWBEs. This year the company is aiming to increase the number of goods and services procured from diverse suppliers to $130 million, or 10 percent of its overall spend.
As PSEG continues to make supporting these firms a priority, its supply chain management group continues to drive strategies geared toward increasing MWBE spend and expanding the company's diverse supplier base.
PSEG recently introduced an on-line supplier management registration system designed to match potential suppliers with procurement needs across the company. The new database allows employees easy access to supplier information and a list of products and services they provide. To date, over 1,500 suppliers have registered online, and 25 percent of those businesses are minority- or women-owned firms.
"PSEG is proud of its commitment to supplier diversity and views it as a value-added way of doing business, as well as being a good corporate citizen," Frank said. "Our efforts are a critical part of creating opportunities for economic growth in the communities we serve."
PSEG has spent more than $1 billion with MWBEs over the last decade.
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 New Jersey's population.
Public Service Enterprise Group (PSEG)
CONTACT: Jenn Kramer of Public Service Enterprise Group (PSEG),+1-973-430-6027
Web site: http://www.pseg.com/