September 3, 2008
PSEG Finalizes New Haven Peaking Contract
NEWARK, N.J., Sept. 3 /PRNewswire-FirstCall/ -- PSEG Fossil, a subsidiary of the Public Service Enterprise Group, announced the finalization of a 30- year contract between its subsidiary, PSEG Power Connecticut and the Connecticut Light and Power Company under which PSEG Power Connecticut will add approximately 130 megawatts (MW) of peaking generation to its New Haven, CT station.
The PSEG project is one of three chosen by the Connecticut Department of Public Utility Control to help satisfy the state's growing demand for electricity during periods of greatest consumption. The contract calls for Fossil to install three dual-fueled units that will go in service June 1, 2012.
"The DPUC's competitive bidding process will benefit Connecticut consumers," said PSEG Fossil President Rich Lopriore. "These units will improve reliability during peak periods and decrease reliance on older, less efficient and less environmentally compatible units."
Fossil operates 17 natural gas, coal, and oil-fired electric generating stations, including the New Haven Harbor generating station. PSEG's portfolio includes 2,600 MWs of peaking capacity.
The new units will use highly efficient turbines similar to those that power jet airplanes to provide residents in Connecticut's constrained southwestern region with the cleanest technologically available electricity during periods of peak demand. The construction project will include installing a Selective Catalytic Reduction system, an advanced emission control technology that will reduce NOx emissions by 90 percent or more.
"This project is in keeping with PSEG's commitment to providing Connecticut with reliable and environmentally responsible energy," Lopriore said. "We certainly are pleased with the outcome and eager to move forward with the project."
PSEG Power, one of the nation's largest independent power producers, is a subsidiary of Public Service Enterprise Group Incorporated (PSEG/NYSE: PEG), a diversified energy holding company. PSEG's other primary subsidiaries are Public Service Electric and Gas Company (PSE&G), New Jersey's oldest and largest energy distribution utility company, and PSEG Energy Holdings, a holding company for other non-regulated businesses.
CONTACT: Mike Jennings, office, +1-973-430-6406, or cell,+1-973-508-6386, for PSEG Power
Web site: http://www.pseg.com/