<SEC-DOCUMENT>0001193125-17-211061.txt : 20170623
<SEC-HEADER>0001193125-17-211061.hdr.sgml : 20170623
<ACCEPTANCE-DATETIME>20170623080832
ACCESSION NUMBER:		0001193125-17-211061
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20170619
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170623
DATE AS OF CHANGE:		20170623

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUBLIC SERVICE ENTERPRISE GROUP INC
		CENTRAL INDEX KEY:			0000788784
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				222625848
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09120
		FILM NUMBER:		17926370

	BUSINESS ADDRESS:	
		STREET 1:		CORPORATE ACCOUNTING SERVICES
		STREET 2:		80 PARK PLAZA, 9TH FLOOR
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102-4194
		BUSINESS PHONE:		973-430-7000

	MAIL ADDRESS:	
		STREET 1:		CORPORATE ACCOUNTING SERVICES
		STREET 2:		80 PARK PLAZA, 9TH FLOOR
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102-4194
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d382547d8k.htm
<DESCRIPTION>FORM 8-K
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<HTML><HEAD>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported) June&nbsp;19, 2017 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>New Jersey</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-09120</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">22-2625848</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>80 Park Plaza </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Newark, New Jersey 07102 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">973-430-7000</FONT></FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>http://www.pseg.com</U> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or <FONT STYLE="white-space:nowrap">Rule&nbsp;12b-2&nbsp;of</FONT> the Securities Exchange Act of
<FONT STYLE="white-space:nowrap">1934&nbsp;(&#167;240.12b-2&nbsp;of</FONT> this chapter). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Emerging growth company&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange Act&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers</U>. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;23, 2017, Public Service Enterprise Group Incorporated (&#147;PSEG&#148;)
announced that Ralph LaRossa has been elected as President and Chief Operating Officer of PSEG Power LLC (&#147;Power&#148;), effective October&nbsp;2, 2017. As previously announced, William Levis will retire from his position as President and Chief
Operating Officer of Power, which retirement will become effective at the end of October&nbsp;1, 2017. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;LaRossa, 54, has served as President and
Chief Operating Officer of Public Service Electric and Gas Company (&#147;PSE&amp;G&#148;) since 2006. He is the Chairman of the Board of PSEG Long Island LLC (&#147;PSEG LI&#148;). Mr.&nbsp;LaRossa joined PSE&amp;G in 1985 as an associate engineer
and advanced through a variety of management positions in the utility&#146;s gas and electric operations. In connection with Mr.&nbsp;LaRossa&#146;s election as President and Chief Operating Officer of Power, Mr.&nbsp;LaRossa was awarded a retention
grant under PSEG&#146;s Long-Term Incentive Plan (&#147;LTIP&#148;) of $3,000,000, payable in February 2018, concurrent with PSEG&#146;s annual grant of awards under the LTIP, in equal amounts of restricted stock units (&#147;RSUs&#148;) and
performance share units (&#147;PSUs&#148;). The award is subject to Mr.&nbsp;LaRossa&#146;s active employment at the time of the grant. The RSUs and PSUs will vest in January 2021 and December 2020, respectively, and are not subject to acceleration
of vesting for retirement eligibility, retirement, or voluntary termination. There were no changes to Mr.&nbsp;LaRossa&#146;s base salary, annual incentive target or long-term incentive target. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;8.01 Other Events. </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Also on
June&nbsp;23, 2017, PSEG announced the election of David M. Daly to succeed Mr.&nbsp;LaRossa as President and Chief Operating Officer of PSE&amp;G and Chairman of the Board of PSEG LI, effective October&nbsp;2, 2017. Daly, 55, was named President
and Chief Operating Officer of PSEG LI in October 2013 and has overseen the transition to PSEG management of PSEG LI. Prior to his appointment, Daly served as Vice President-Asset Management and Centralized Services at PSE&amp;G. Initially hired at
PSE&amp;G in 1983, Daly has held a variety of positions in utility operations and support services. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;9.01 Financial Statements and
Exhibits</U>. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>Exhibit&nbsp;99</TD>
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<TD VALIGN="top">Press Release dated June&nbsp;23, 2017</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><B><U>PUBLIC&nbsp;SERVICE&nbsp;ENTERPRISE&nbsp;GROUP&nbsp;INCORPORATED</U></B></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center">(Registrant)</TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Stuart J. Black</P></TD></TR>
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<TD VALIGN="top" ALIGN="center">S<SMALL>TUART</SMALL> J. B<SMALL>LACK</SMALL></TD></TR>
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<TD VALIGN="top" ALIGN="center">Vice President and Controller</TD></TR>
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<TD VALIGN="top" ALIGN="center">(Principal Accounting Officer)</TD></TR>
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<TD VALIGN="top">Date: June&nbsp;23, 2017</TD>
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<TYPE>EX-99
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<FILENAME>d382547dex99.htm
<DESCRIPTION>EX-99
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Investor News</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><B>NYSE: PEG</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For further information, contact: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#10147;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kathleen A. Lally, Vice President &#150;
Investor Relations</P></TD>
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<TD VALIGN="top"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Phone:&nbsp;973-430-6565</FONT></FONT></TD></TR>
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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:4.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">&#10147;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlotta Chan, Manager &#150; Investor
Relations</P></TD>
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<TD VALIGN="top">Phone: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">973-430-6596</FONT></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RALPH LAROSSA ELECTED PRESIDENT AND COO OF PSEG POWER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Takes over from retiring PSEG Power President&nbsp;&amp; COO William Levis </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DAVID M. DALY ELECTED PRESIDENT AND COO OF PSE&amp;G </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(Newark &#150; June&nbsp;23, 2017) Public Service Enterprise Group (NYSE:PEG) announced today the election of Ralph LaRossa as President and Chief Operating
Officer (COO) of PSEG&#146;s merchant generation business, PSEG Power effective October&nbsp;2, 2017. LaRossa is currently President and COO of PSEG&#146;s utility business, Public Service Electric and Gas Company (PSE&amp;G). In his new role,
LaRossa succeeds Bill Levis who in December 2016 had announced his plans to retire. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PSEG also announced David M. Daly has been elected to succeed Ralph
LaRossa as President and COO of PSE&amp;G effective October&nbsp;2, 2017. Daly will also assume the role of Chairman of the Board of PSEG Long Island currently held by Ralph LaRossa. Daly is currently President and COO of PSEG Long Island. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LaRossa, 54, was elected President and COO of PSE&amp;G in October 2006. Since then, he has successfully led the utility through significant growth in its
transmission and distribution businesses which now account for more than <FONT STYLE="white-space:nowrap">two-thirds</FONT> of PSEG&#146;s consolidated annual revenues, with a culture focused on safety and compliance. LaRossa also led PSEG&#146;s
efforts to garner a <FONT STYLE="white-space:nowrap">12-year</FONT> contract to manage the LIPA transmission and distribution system, which is now in its fourth year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ralph Izzo, Chairman, President and Chief Executive Officer of PSEG, said &#147;In his career at PSE&amp;G, Ralph has demonstrated the right skills to step
into this key leadership role. For the past decade, Ralph has successfully led PSE&amp;G through the largest capital program in its history. During this period he led the recovery from Superstorm Sandy and maintained a focus on operational
reliability and the needs of our customers. Ralph has demonstrated strong leadership and is respected across PSEG and the industry as he assumes this role at PSEG Power.&#148; Izzo said the timing of the appointments in advance of the effective date
allows ample opportunity for a smooth transition in executive leadership at PSEG Power and PSE&amp;G. Izzo added, &#147;Moreover, the broadening of Ralph&#146;s background is consistent with our long-term succession planning efforts.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Izzo also noted, &#147;Dave has demonstrated strong leadership capabilities at PSEG Long Island, and has been instrumental in achieving improvements in
utility operations and customer satisfaction. I am confident that under Dave, the PSE&amp;G team will continue to meet customer expectations by maintaining a focus on service quality through programs that modernize and upgrade the system&#148;. </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Reacting to his new responsibilities, LaRossa said &#147;I thoroughly appreciate the trust that Ralph Izzo and
the Board have placed in me. I look forward to this new role working with the dedicated men and women of PSEG Power. I will do this with a close eye on operating safely and efficiently as we complete construction of PSEG Power&#146;s three new <FONT
STYLE="white-space:nowrap">gas-fired</FONT> combined cycle generators.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Daly, in reacting to his appointment, said &#147;This is an extraordinary
honor. I look forward to working with the great men and women of PSE&amp;G, and plan to maintain our commitment to shareholder value, safe and reliable service and the highest levels of community involvement.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;LaRossa joined PSE&amp;G in 1985 as an associate engineer and advanced through a variety of management positions in the utility&#146;s gas and
electric operations. In addition to his role at PSE&amp;G, on January&nbsp;1, 2014, Mr.&nbsp;LaRossa was appointed Chairman of the Board of PSEG Long Island, a subsidiary of PSEG. He is a graduate of Stevens Institute of Technology and has completed
the Harvard Business School&#146;s Program for Management Development. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Daly, 55, was named President and COO of PSEG Long Island in October 2013, and has
overseen the transition to PSEG management of PSEG Long Island. Prior to his appointment, Daly served as vice president-asset management and centralized services at PSE&amp;G. Initially hired at PSE&amp;G in 1983, Daly has held a variety of
positions in utility operations and support services. He has an electrical engineering degree from the State University of New York Maritime College, and a Master of Business Administration from Rutgers University. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Bill Levis&#146;s leadership at PSEG Power occurred during a time when the industry faced tremendous challenges. I greatly value his contribution to our
success during these past 10 years,&#148; said Izzo. &#147;I, along with the rest of the company, thank him and wish him well in his retirement.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">### </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Public Service Enterprise Group (NYSE:
PEG) is a publicly traded diversified energy company with annual revenues of $9.1&nbsp;billion. Its operating subsidiaries are: Public Service Electric and Gas Company (PSE&amp;G), PSEG Power, and PSEG Long Island. <U>www.pseg.com</U>. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Public Service Electric and Gas Company (PSE&amp;G) is New Jersey&#146;s oldest and largest regulated gas and electric delivery utility, serving nearly
three-quarters of the state&#146;s population. PSE&amp;G is the winner of the ReliabilityOne Award for superior electric system reliability. </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>PSEG Power LLC</I><B><I> </I></B><I>is an independent power producer that generates and sells electricity in the PJM, New York and New England wholesale
power markets. </I></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Forward-Looking Statements </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The statements contained in this communication about our and our subsidiaries&#146; future performance, including, without limitation, future revenues,
earnings, strategies, prospects, consequences and all other statements that are not purely historical, are &#147;forward-looking statements&#148; within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on management&#146;s beliefs as well as </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
assumptions made by and information currently available to management. When used herein, the words &#147;anticipate,&#148; &#147;intend,&#148; &#147;estimate,&#148; &#147;believe,&#148;
&#147;expect,&#148; &#147;plan,&#148; &#147;should,&#148; &#147;hypothetical,&#148; &#147;potential,&#148; &#147;forecast,&#148; &#147;project,&#148; variations of such words and similar expressions are intended to identify forward-looking
statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Other factors that could cause actual results to differ materially from those contemplated in any forward-looking
statements made by us herein are discussed in our Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> and subsequent reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> and Form <FONT STYLE="white-space:nowrap">8-K</FONT>
filed with the Securities and Exchange Commission (SEC), and available on our website: <FONT STYLE="white-space:nowrap">http://investor.pseg.com/sec-filings.</FONT> All of the forward-looking statements made in this communication are qualified by
these cautionary statements and we cannot assure you that the results or developments anticipated by management will be realized or even if realized, will have the expected consequences to, or effects on, us or our business, prospects, financial
condition, results of operations or cash flows. Readers are cautioned not to place undue reliance on these forward-looking statements in making any investment decision. Forward-looking statements made in this communication apply only as of the date
hereof. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even in light of new information or future events, unless otherwise required by applicable securities laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">From time to time, PSEG, PSE&amp;G and PSEG Power release important information via postings on their corporate website
at&nbsp;<U>http://investor.pseg.com</U>. Investors and other interested parties are encouraged to visit the corporate website to review new postings. The &#147;Email Alerts&#148; link at&nbsp;<U>http://investor.pseg.com</U>&nbsp;may be used to
enroll to receive automatic email alerts and/or Really Simple Syndication (RSS) feeds regarding new postings. </P>
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