September 4, 2008
PSEG Added to Dow Jones Sustainability Index
NEWARK, N.J., Sept. 4 /PRNewswire-FirstCall/ -- The Dow Jones Sustainability Indexes (DJSI) named Public Service Enterprise Group (PSEG) to the Dow Jones Sustainability North America Index (DJSI North America). PSEG was one of 125 companies named to DJSI North America, and one of only 10 US electric companies to be included in the index.
Launched in 1999, the Dow Jones Sustainability Indexes track the financial performance of the leading sustainability-driven companies worldwide. The DJSI North America comprises the leading 20% of North American companies in terms of sustainability performance. The DJSI measures the quality of a company's strategy and management and its performance in dealing with opportunities and risks deriving from economic, environmental and social developments and selects leading companies for investment purposes.
"Our membership in this prestigious index is noteworthy," said Ralph Izzo, chairman, president and CEO of PSEG. "I have to congratulate all the employees of PSEG for the hard work that resulted in our inclusion in this group. PSEG is committed to sustainability and the key ingredients that drive long-term financial growth: operational excellence, disciplined investment, and environmental leadership, as well as the health and safety of our employees, customers, and the communities in which we operate. Our inclusion in DJSI North America also reflects our ability to respond to the key challenge facing our company, New Jersey, and the nation: climate change."
The results of the DJSI are watched by market participants and are used by asset managers in 16 countries to manage a variety of sustainability-driven portfolios, such as mutual funds.
Public Service Enterprise Group is a publicly traded diversified energy company with annual revenues of more than $12 billion, and three principal subsidiaries: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Energy Holdings. PSEG has recently launched several initiatives to help combat climate change including offering $105 million in loans for solar installations in New Jersey (to be paid back by SRECS), bidding to build a 350 megawatts off-shore wind farm, launching Energy Storage and Power (a compressed air energy storage business), converting its truck and car fleet to hybrid vehicles and exploring the possibility of a new nuclear plant to be located in South Jersey.
Public Service Enterprise Group (PSEG)
CONTACT: Paul Rosengren, +1-973-430-5911, for PSEG
Web site: http://www.pseg.com/