October 16, 2008

Ralph Izzo Recognized By Solar Industry for His Leadership and Commitment to Increasing Renewable Energy

NEWARK, N.J., Oct. 16 /PRNewswire-FirstCall/ -- Ralph Izzo, PSEG chairman, president and CEO, was honored today for his thought leadership and established business practices that provide a roadmap for growing the role of solar in the nation's energy mix. Izzo was presented with the "Utility CEO of the Year" award by the Solar Electric Power Association (SEPA), at the organization's annual meeting in California. Izzo was the only corporate leader to win an award.

"Mr. Izzo believes climate change is the pre-eminent issue of our time, with the power to transform the electric utility industry," said Julia Hamm, SEPA executive director. "Few other utility executives have taken as prominent a role in speaking out on climate change and proposing new responses."

PSEG has been a strong advocate for utilities to play a role in promoting energy conservation and solar power, because of their relationship with customers and their historical role in providing universal access to services. PSEG has launched a $105 million loan program to help its customers install solar energy systems.

Winners of SEPA's "2008 Solar Business Achievement Awards" were selected in five categories based upon their efforts to expand solar energy as an essential part of the solution to the growing global energy crisis. Nominees for the awards included utility CEOs, electric utilities and solar companies from SEPA's member companies around the world.

SEPA is the Solar Electric Power Association, a nonprofit organization formed in 1992 which represents utilities, solar companies, and other organizations interested in investing in facilitating solutions for the use and integration of solar electric power by utilities, electric service providers and their customers.

Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company with annual revenues of more than $12 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: Denise Denk, +1-973-430-6336

Web Site: http://www.pseg.com/