BNET Industries

Market Cap:$15.9B
Last Fiscal Year Sales:$13.3B
  • Public
  • US
Dow Jones Description

The Public Service Corporation was formed in 1903, by amalgamating more than 400 gas, electric and transportation companies in New Jersey. Thomas McCarter was named the Corporation's first president and held the position until 1939. During the 1920s, there was a national trend of consolidating and merging smaller utilities into large utility-holding companies. Public Service joined this trend, and by the 1930s had become part of a huge corporation which owned more than 100 utility subsidiaries throughout the Eastern, Central and Southern United States. Internally, Public Service consolidated its gas and electric interests into Public Service Electric and Gas, and its transportation interests into Public Service Coordinated Transport (later Transport of New Jersey). Concerns about the concentration of economic power resulted in federal and state actions requiring the breakup of utilities. In 1943, Public Service once again became a stand-alone company, and was renamed Public Service Electric and Gas Company (PSE&G) in 1948. Transportation was a major component of Public Service's early offerings, and at its inception, included ferry and trolley services, as well as elevators for transporting horse carts up the Palisades. In 1916, Public Service provided more than 451 million passenger trips on its trolleys alone. ...

Chairman of The Board, President and Chief Executive Officer (Pseg)
Ralph Izzo
Number of Employees 9,849
Contact Information

80 Park Plz

Newark, New Jersey 07101

pseg.com

(973) 456-3500

NAICS Code Other Electric Power Generation: 221119

Recent Events

  • Public Service PEG Upgrade Alert, Watch for 5.1% Technical Downtrend Reversal

    10/29/09 - Bond / Stock Rating - View Story

  • PSEG's net income falls 26 percent

    10/29/09 - Financial Announcement - View Story

  • Oppenheimer & Co. reiterates PSEG at 'outperform'

    9/28/09 - Bond / Stock Rating - View Story

  • PSEG Nuclear Submits Salem and Hope Creek License Renewal Applications to NRC

    8/18/09 - Licensing / Contract - View Story

  • Pepco Holdings Q2 Profit Rises - Update

    8/06/09 - Financial Announcement - View Story

News & Analysis

public service enterprise group inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
Clarence Hopf Jr. President (Er&T)
Elbert C. Simpson President and Chief Operating Officer (Services)
Frank Cassidy President and Chief Operating Officer (Power)
Kevin J. Quinn President (Er&T)
Matthew McGrath President (Global)
Michael J Thomson President (Fossil)
Ralph Larossa President & COO
Richard P. Lopriore President (Fossil)
Robert E. Busch President and Chief Operating Officer (Services)
Stephen C. Byrd President and Chief Operating Officer, Pseg Energy Holdings
Steve R. Teitelman President (Er&T)
Thomas P. Joyce President and Chief Nuclear Officer (Nuclear)
William Levis President and Chief Operating Officer (Power)
Margaret M. Pego Senior Vice President, Human Resources and Chief Human Resources Officer, Pseg Services Corporation
Robert J. Dougherty COO & Vice President
Roy Anderson Chief Nuclear Officer
Thomas M. O. Flynn Executive Vice President and Chief Financial Officer (Pseg)
R. Edwin Selover Executive Vice President and General Counsel
Randall E. Mehrberg Executive Vice Presidentplanning and Strategy (Services)
Thomas M. O'Flynn Executive Vice President
A. Christopher Bakken Senior Vice President, Nuclear Operations
David P. Falck Senior Vice President, Law, Pseg Services Corporation
David F. Garchow Vice President, Engineering & Technology Support
Derek M. Dirisio Vice President and Controller
Harold W. Borden, JR. Vice President and General Counsel (Power)
John Carlin Vice President, Nuclear Assessment
Mark G. Kahrer Vice President, Finance
Michael Brothers Vice President, Site Operations
Patricia A. Rado Vice President & Controller
Albert R. Gamper Jr. Director of Pse&G
Arthur S. Guida Director, External Affairs
Conrad K. Harper Director of Pse&G
Eileen A. Moran Director of Power
Susanna Chiu Marketing Director
Ananda Kanapathy Area Distribution Manager
Donald T. Cooke Business Process Manager
John E. Veprek Product Manager, Marketing
Kevin Kimbo Manager, Appliance Service Business
Les Morton Information Protection Manager
Paul Rosengren Media Relations Manager
Susan Hogan Development Manager
Al Mitchell Meter Supervisor
Donna Headley Engineering Technician
Morton A. Plawner Treasurer
Sandra Cruz Financial Analyst
Sari Steller Meter Supervisor
Tim McLaughlin Technical Specialist
David Lilley Director

Board of Directors

Name (plus bio) Position
Ralph Izzo Chairman of The Board, President and Chief Executive Officer (Pseg)
Shirley Ann Jackson Chair
Thomas A. Renyi Executive Chairman, The Bank of New York Mellon Corporation
Caroline Dorsa Board of Directors
Cheol Shin Hak Board of Directors
E. James Ferland Board of Directors
Ernest H. Drew Board of Directors
Hak Cheol Shin Board of Directors
Miriam E. Gilligan Board of Directors
Richard J. Swift Board of Directors
Scott Ford Board of Directors
William V. Hickey Board of Directors

Mr. Izzo had an employment contract from October 2003 which expired by its terms in October 2008, that detailed key employment terms. Instead of entering into a new employment contract, the Committee, working with Mercer, decided to provide him with a severance agreement incorporating certain of the severance provisions of his expiring employment agreement. The Committee also developed a compensation package for Mr. Izzo for 2009 and beyond. This allows the Committee added flexibility for the future as the terms of many of the programs are now governed by the Company-wide program and not the CEO s specific contract.

Organization Position Status
Public Service Enterprise Group Incorporated Chairman of The Board, President and Chief Executive Officer (Pseg) Current
Energis LLC senior vice president, finance and information Former
Columbia University Doctor of Philosophy degree in applied physics Former
Columbia University Master of Science Degrees Former
Rutgers Graduate School of Management Master of Business Administration degree Former
Columbia University Bachelor of Science Former

Clarence (Joe) Hopf Jr. was named president of PSEG Energy Resources & Trade in June 2008. His responsibilities include management of PSEG Power's generation portfolio and basic gas supply service, purchasing of fuel, mid- and back-office operations as well as trading and marketing activities. Prior to joining PSEG, Mr. Hopf was president of PPL EnergyPlus in Allentown, PA, since 2006. He was responsible for managing PPL's wholesale/retail marketing and trading operation in the United States. Mr. Hopf has held a variety of posts with increasing responsibility in the electric generation and energy trading business since 1981. Prior to joining PPL in 2005 as a senior vice president, he served as a vice president at Goldman Sachs in New York and, before that, at AmerenEnergy in St. Louis.

Organization Position Status
Public Service Enterprise Group Incorporated President (Er&T) Current
Public Service Enterprise Group Incorporated Board of Directors Current
PPL Energy Plus, LLC President Former
PSEG Energy Resources & Trade LLC President Former
Goldman, Sachs & Co. Vice President Former

Organization Position Status
Public Service Enterprise Group Incorporated President and Chief Operating Officer (Services) Current
PSEG Services Corp. Chief Operating Officer Current
Public Service Enterprise Group Incorporated Board of Directors Current
Arizona Public Service Company President, Nuclear Support Former
PSEG Services Corp. President Former
PSEG Services Corp. Senior Vice President Â?? Information Technology Former
Arizona Public Service Company Vice President, Nuclear Support Former
Florida Power Corp Director, Nuclear Operations Site Support Former
Florida Power Corp Managerial Positions Former
University of Florida Bachelor of Science Degrees In Electrical Engineering and Nuclear Engineering Former

Frank Cassidy became president and chief operating officer of PSEG Power (Power), effective June 1999. Prior to his appointment to Power he was president and chief executive officer of PSEG Energy Technologies, effective January 1997. He had been senior vice president - fossil generation of Public Service Electric and Gas Company (PSE&G) since February 1995, and vice president - transmission systems since November 1989. Mr. Cassidy joined PSE&G in 1969 and has held various posts of increasing responsibility. He served as general manager - corporate performance, and then as general manager - transmission before his election to vice president. Mr. Cassidy has served as PSE&G's representative on the Pennsylvania-New Jersey- Maryland Interconnection's Management Committee, and Mid-Atlantic Area Council. He has testified frequently before the New Jersey Board of Public Utilities, the Federal Energy Regulatory Commission, and the United States Senate. Mr. Cassidy graduated from the New Jersey Institute of Technology with a bachelor's degree in electrical engineering, and holds a Master of Business Administration degree from Rutgers University. In 1988 he completed the Harvard Graduate School of Business Administration's Program for Management Development. Mr. Cassidy serves on the United States Environmental Protection Agency's Clean Air Act Advisory Committee, and on the boards of the Northeast States Center for A Clean Air Future, the Association of Edison Illuminating Companies, and the Electric Power Supply Association.

Organization Position Status
Public Service Enterprise Group Incorporated President and Chief Operating Officer (Power) Current
PSEG Energy Holdings LLC Manager Current
Calpine Corporation Chair Current
PSEG Power LLC Director Current
PSEG Energy Holdings LLC Board of Directors Current
PSEG Power LLC President Former
PSEG Power LLC Coo Former
Public Service Enterprise Group Incorporated Representative Former
Rutgers University Master of Business Administration Degree Former
New Jersey Institute of Technology Bachelor's Degree In Electrical Engineering Former
New Jersey & Company Former
Pse Co Former
Federal Energy Regulatory Commission Former
Rutgers University Master of Business Administration degree Former
New Jersey Institute of Technology bachelor's degree in electrical engineering Former
New Jersey Institute of Technology Degree Former

Kevin J. Quinn has been vice president – corporate planning in PSEG Services Corporation, a subsidiary of Public Service Enterprise Group Incorporated (PSEG), since June 2008. Mr. Quinn joined PSEG in 1991 as a business strategy manager in corporate planning. Over the years he worked with the executive officers group to develop corporate strategies and objectives, rising to the position of vice president – corporate planning. Mr. Quinn served as president of PSEG Energy Resources & Trade from December 2006, until returning to the post of vice president – corporate planning in June 2008. Prior to joining PSEG, he was a management consultant for McKinsey and Company Incorporated and an engineer for the Exxon Research and Engineering Company. Mr. Quinn has a Bachelor of Civil Engineering degree from the University of Dayton and also holds a Master of Business Administration degree from Columbia University.

Organization Position Status
Public Service Enterprise Group Incorporated President (Er&T) Current

Organization Position Status
Public Service Enterprise Group Incorporated President (Global) Current

Organization Position Status
Public Service Enterprise Group Incorporated President (Fossil) Current
Syracuse University MBA Former
Villanova University bachelor's degree in operations management Former

Organization Position Status
Public Service Enterprise Group Incorporated President & COO Current
Public Service Electric & Gas Co. President Current
Montclair State University Member, Board of Trustees Current
Bergen County's United Way Director Current
Public Service Enterprise Group Incorporated Board of Directors Current
Public Service Electric & Gas Co. Coo Former
Stevens Institute of Technology Bachelor of Engineering Degree In Industrial Engineering Former
Public Service Enterprise Group Incorporated Associate Engineer Former

Richard P. Lopriore was elected president of PSEG Fossil, in May 2007. He oversees operations for natural gas, coal, and oil-fired electric generating units that contribute close to 10,000 megawatts of electricity to PSEG Power's generation portfolio. Mr. Lopriore has been a valuable part of the electric generation industry for more than 36 years. Prior to joining PSEG Fossil, he had been senior vice president - mid-Atlantic operations for Exelon Nuclear, responsible for oversight of the Limerick, Peach Bottom, Oyster Creek and Three Mile Island stations. Mr. Lopriore joined Exelon as plant manager of Byron Stations in 1999 and was promoted to site vice president in 2001. While under his leadership Byron achieved back-to-back "excellent" ratings from industry peers and many other awards for operational excellence. At Byron, Mr. Lopriore also functioned as the central authority for making NRC and other regulatory commitments. In 2003 he became corporate vice president - operations support at Exelon's nuclear headquarters, responsible for both the Midwest and mid-Atlantic regions, and then became vice president - operations, Midwest boiling water reactors in 2004 with oversight for the Clinton, Dresden, LaSalle and Quad Cities stations. Prior to Exelon, Mr. Lopriore held senior leadership roles with Ontario Hydro Nuclear in Canada, where he improved operational performance, capacity factors and maintenance outage execution. Mr. Lopriore also held several key management positions at the Brunswick Nuclear Plant in North Carolina, including plant manager. Here he was successful in getting the station removed from the NRC Watch List and set new records in the areas of safety, production and cost. At Vermont Yankee, he served as the maintenance manager for eight years where he achieved an operational SRO certification for Boiling Water Reactors. Mr. Lopriore began his career as an electrician with New England Power Service Company, performing hands-on maintenance work for hydroelectric, fossil and nuclear plants in both Massachusetts and Vermont. He received his Bachelor of Science degree from Southern Vermont College and is a member of the American Nuclear Society.

Organization Position Status
Public Service Enterprise Group Incorporated President (Fossil) Current
Public Service Enterprise Group Incorporated Board of Directors Current
Vermont Yankee Maintenance Manager Former
Exelon Corporation Former

Organization Position Status
Public Service Enterprise Group Incorporated President and Chief Operating Officer (Services) Current

Stephen C. Byrd was named president and chief operating officer of PSEG Energy Holdings (Holdings), in July 2008, and president of PSEG Global, in August 2008. Prior, he was senior vice president - finance, business development, strategy and M&A for Public Service Enterprise Group Incorporated (PSEG), since January 2007. As senior vice president Mr. Byrd's responsibilities also included overseeing finance matters for two subsidiaries - Public Service Electric and Gas Company (PSE&G) and Holdings. Prior to joining PSEG, Mr. Byrd was executive director of the global energy and utilities group in the investment banking firm of Morgan Stanley. In this position he had the lead role in developing transactions involving a combination of investment banking, commodities and structured finance capabilities. On the M&A front Mr. Byrd advised on a broad range of transactions, from less than $100 million in size to more than $40 billion. In the financing area his lead execution roles included initial public stock offerings, principal investments in private companies, convertible offerings and high-yield and investment grade debt offerings. Mr. Byrd is a member of the New York State Bar Association and holds a joint Doctor of Law and Master of Business Administration degree from the University of Virginia. He also earned a Bachelor of Business Administration degree in finance from the College of William and Mary.

Organization Position Status
Public Service Enterprise Group Incorporated President and Chief Operating Officer, Pseg Energy Holdings Current
New York State Bar Association Board of Directors Current
Public Service Enterprise Group Incorporated Board of Directors Current
PSEG Global President Former
PSEG Energy Holdings LLC President Former
PSEG Energy Holdings LLC Chief Operating Officer Former

Organization Position Status
Public Service Enterprise Group Incorporated President (Er&T) Current
PSEG Energy Resources & Trade LLC President Current
Marubeni Corporation Former
Sun Company, Inc. Former
Wharton Graduate School of the University of Pennsylvania Master of Business Administration Degree Former
Wake Forest University Bachelor of Business Administration Degree Former

Thomas P. Joyce was named president and chief nuclear officer of PSEG Nuclear (Nuclear), in October 2008. He had been senior vice president operations of Salem/Hope Creek for Nuclear, since June 2007. Mr. Joyce was also vice president Salem, since January 2007, and previously assumed the role of PSEG Nuclear's site vice president as part of the Nuclear Operating Services Agreement between PSEG and Exelon Corporation. Mr. Joyce has more than 32 years of experience in commercial nuclear power operations, and led Salem through two successful reactor vessel head replacement outages. Salem Unit 1 completed its outage for the lowest station dose, while capturing the world record for shortest head replacement outage. Prior to coming to PSEG Mr. Joyce was site vice president at Exelon Nuclear's Braidwood Station. During his tenure the station achieved overall performance improvements and retained their excellent INPO rating. The plant completed a refueling in 15 days, 14 hours setting a record for outage efficiency among U.S. pressurized water reactors. Before serving at Braidwood he held leadership positions at Exelon's Byron, Dresden, and Zion Stations, and in the corporate offices of both Exelon Corporation and Exelon Nuclear. Mr. Joyce holds a Bachelor of Science degree in nuclear engineering from the University of Missouri at Rolla, and a Master of Business Administration degree from the Keller Graduate School of Management. While at Byron, he earned his senior reactor operation (SRO) license.

Organization Position Status
Public Service Enterprise Group Incorporated President and Chief Nuclear Officer (Nuclear) Current
Public Service Enterprise Group Incorporated Board of Directors Current
Missouri University of Science and Technology Bachelor of Science Degree In Nuclear Engineering Former

William Levis was elected president and chief operating officer of PSEG Power (Power), effective June 2007. He had been president and chief nuclear officer of PSEG Nuclear (Nuclear) since January 2007, while retaining his position as Power's president and COO. Power is a major unregulated independent power producer in the U.S. with three main subsidiaries: PSEG Fossil, PSEG Nuclear, and PSEG Energy Resources and Trade. Previously, Mr. Levis was also senior vice president and chief nuclear officer, as part of the Nuclear Operating Services Agreement between PSEG and Exelon Corporation. Under his leadership Nuclear's Salem and Hope Creek stations have advanced to the highest performance levels in the stations' history. Improvement in the stations' work environment has resulted in the closing of two long standing NRC cross-cutting issues - problem identification and resolution, and safety conscious work environment. Additionally, in 2006 the stations generated more electricity than ever in their history and achieved site records for longest continuous single unit run and shortest refueling outage. Mr. Levis has more than 25 years of diversified experience in the nuclear power industry. Before coming to PSEG he was Exelon Nuclear's vice president - Mid-Atlantic operations, where he provided executive oversight of day-to-day operations of the Limerick, Peach Bottom, Three Mile Island and Oyster Creek Stations. He joined Exelon as the Byron Station Manager in 1998 and was promoted to site vice president the following year. In 2001 he was named site vice president at Limerick Generating Station. While under Mr. Levis' leadership Byron also made significant overall improvements. The site established new records for total annual megawatt production, and set station duration efficiency records in each of three consecutive refueling outages. Mr. Levis continued his success at Limerick. Following his arrival, Unit 2 completed its sixth refueling outage in 16 days, 8 hours - making it the most efficient outage of any domestic or foreign G.E. boiling water reactor. Prior to joining Exelon Mr. Levis worked at Ontario Hydro's Pickering Plant and held several positions over a five-year period with Carolina Power & Light's Brunswick facility. During this time the station was removed from the NRC Watch List and set new records in the areas of safety, production and cost. Mr. Levis' background also includes experience with NRC, Westec Services, General Electric Nuclear Services and the U.S. Navy. He has a Bachelor of Science degree in marine engineering from the U.S. Naval Academy and holds an SRO (senior reactor operator) certification. Mr. Levis retired as a commander in the Naval Reserves and attained his professional engineer license in 1985.

Organization Position Status
Public Service Enterprise Group Incorporated President and Chief Operating Officer (Power) Current
Public Service Enterprise Group Incorporated Board of Directors Current
PSEG Power LLC Board of Directors Current
PSEG Power LLC President Former
Three Mile Island President, Mid-Atlantic Operations Former
PSEG Power LLC Chief Operating Officer Former
Exelon Corporation Byron Station Manager Former

Organization Position Status
PSEG Services Corp. Chief Human Resources Officer Current
Public Service Enterprise Group Incorporated Senior Vice President, Human Resources and Chief Human Resources Officer, Pseg Services Corporation Current
PSEG Services Corp. Senior Vice President Â?? Human Resources Former
Seton Hall University MBA Former
The William Paterson College of New Jersey Bachelor of Arts Degree In Business Administration Former
Seton Hall University Bachelor of Arts Degree In Business Administration Former
University of Michigan Human Resources Executive Program Former

Organization Position Status
PSEG Global LLC President Current
Public Service Enterprise Group Incorporated COO & Vice President Current
PSEG Energy Holdings LLC President & Coo Former
Edison Electric Institute Former
American Enterprise Institute for Public Policy Research Former
L.S.C., LLC Former
PSEG Energy Holdings LLC Board of Directors Former
New York University Master of Business Administration degree in finance Former
Seton Hall University Bachelor of Science degree in finance Former

Organization Position Status
Public Service Enterprise Group Incorporated Chief Nuclear Officer Current

Organization Position Status
Public Service Enterprise Group Incorporated Executive Vice President and Chief Financial Officer (Pseg) Current

R. Edwin Selover was named executive vice president and general counsel of Public Service Enterprise Group Incorporated (PSEG), in December 2006. He had been senior vice president and general counsel since April 2002, and vice president and general counsel since April 1988. In addition, Mr. Selover has been senior vice president and general counsel of Public Service Electric and Gas Company (PSE&G), since January 1988, and PSEG Services Corporation since November 1999 - both subsidiaries of PSEG. Mr. Selover joined PSEG as an attorney in 1972 and currently heads the law department, internal audit services and corporate public affairs, which includes corporate communications and advertising, state governmental affairs and federal affairs and policy. A native of Oklahoma, Mr. Selover served in the United States Army and graduated from Union College, Schenectady, New York. He also received his Doctor of Law degree from the University of Minnesota School of Law. Mr. Selover is a director/trustee for New Jersey Future and the New Jersey Conservation Foundation, and is on the advisory board of the Mid-Atlantic Legal Foundation.

Organization Position Status
Public Service Enterprise Group Incorporated Executive Vice President and General Counsel Current
Public Service Electric & Gas Co. General Counsel & Senior Vice President Current
PSEG Energy Holdings LLC Manager Current
Public Service Enterprise Group Incorporated Attorney Current
PSEG Energy Holdings LLC Board of Directors Current
Public Service Enterprise Group Incorporated Board of Directors Current
Union College Former

Randall E. Mehrberg was named executive vice president planning and strategy of PSEG Services Corporation, in September 2008. He is a member of PSEG's corporate executive leadership team and has leadership responsibility for developing the company's corporate strategy and five-year business plan and overseeing the corporate balanced scorecard. Mehrberg's responsibilities will also include PSEG's emergent technology and transfer group, ensuring development of a corporate strategy that includes a comprehensive assessment of the role of technology in the future of our industry. Mr. Mehrberg joined PSEG after serving for eight years in various executive leadership positions at Chicago-based Exelon Corporation, the nation's largest electric utility. He was executive vice president, chief administrative officer and chief legal officer from 2006 to 2008; executive vice president-corporate development and strategy and general counsel from 2002 to 2006, and senior vice president, general counsel and chief ethics officer from 2000 to 2002. Before his tenure at Exelon, Mehrberg was an equity partner from 1980 to 1983 and again from 1997 to 2000 in the Chicago law firm of Jenner & Block, where he represented corporations, institutions and government entities in an abroad range of matters. From 1993 to 1997 he served as lakefront director and general counsel for the City of Chicago's Park District. Mr. Mehrberg holds a Doctor of Law degree from the University of Michigan Law School, and a Bachelor of Science degree in economics from the University of Pennsylvania's Wharton School of Business. He has been active in a number of business and civic organizations, including as vice chairman of the board of Nuclear Electric Insurance Limited and as a board member of both the University of Pennsylvania Medical School and the University of Michigan Law School. Mr. Mehrberg has been the recipient of numerous awards, such as the AJC Judge Learned Hand Human Relations Award, the Mexican-American Legal Defense and Education Fund Legal Services Award, the Chicago Bar association David C. Hilliard Award, the Catholic Charities Award for Service to the Poor, and the H.O.P.E. for the People Award Man of the Year.

Organization Position Status
Public Service Enterprise Group Incorporated Executive Vice Presidentplanning and Strategy (Services) Current
Public Service Enterprise Group Incorporated Board of Directors Current
Jenner & Block LLP Equity Partner Former

Thomas M. O'Flynn was named executive vice president and chief financial officer for Public Service Enterprise Group Incorporated (PSEG), in July 2001. He is also the chief financial officer of Public Service Electric and Gas Company (PSE&G), PSEG Power (Power), and PSEG Energy Holdings (Holdings). Mr. O'Flynn had been president and chief operating officer of Holdings, overseeing the operations of its two main subsidiaries: PSEG Global and PSEG Resources. Mr. O'Flynn is responsible for all financial functions as well as planning, strategy and development across PSEG, PSE&G and Power. Mr. O'Flynn came to PSEG with 15 years of experience at Morgan Stanley, where he specialized in corporate finance for electric and gas utility and power clients. As a managing director in Morgan Stanley's global power and utility group and head of the North American region, he worked with major energy companies on many strategic advisory and financing transactions; including mergers and acquisitions, IPO offerings and capital raising assignments. Also, while at Morgan Stanley he served as a financial advisor to PSEG, prior to becoming the managing director of Morgan Stanley's global power and utility group. Mr. O'Flynn holds a degree from Northwestern University in economics and a Master of Business Administration degree from the University of Chicago. He currently serves as the chairman of the finance executive advisory committee of the Edison Electric Institute (EEI) and also serves on the board of directors for Nuclear Electric Insurance Limited (NEIL), the New Jersey Performing Arts Center (NJPAC) and The Newark Museum.

Organization Position Status
PSEG Power LLC Chief Financial Officer Current
PSEG Energy Holdings LLC Chief Financial Officer Current
Public Service Enterprise Group Incorporated Executive Vice President Current
Public Service Electric & Gas Co. Executive Vice President Current
Edison Electric Institute Chairman Current
PSEG Power LLC Board of Directors Current
Public Service Enterprise Group Incorporated Chief Financial Officer Former
PSEG Energy Holdings LLC Executive Vice President & Manager Former
Morgan Stanley managing director Former
PSEG Energy Holdings LLC Board of Directors Former
University of Chicago Master of Business Administration degree Former
Northwestern University Degree Former
Environmental Enterprises Inc. member Former

Organization Position Status
Public Service Enterprise Group Incorporated Senior Vice President, Nuclear Operations Current
PSEG Energy Holdings LLC President CNO NVU Former

David P. Falck was named senior vice president law of PSEG Services Corporation, in March 2007. In this position he has general supervisory responsibilities for the law department and the office of the corporate secretary. Mr. Falck had been a partner at Pillsbury Winthrop Shaw Pittman and one of its predecessor firms, Winthrop Stimson, since 1987, after having served eight years as an associate in that firm. Over the years, he has represented utility holding companies, generation owners, underwriters and investors in strategic and capital-raising transactions and governance. Mr. Falck has also advised other corporations, boards and investors on business combinations, strategic investments, relations with shareholders, and legal compliance. In addition, he served as a member of the managing board of his 800-lawyer firm from 2003 to 2006. Mr. Falck holds a Doctor of Law degree from Washington & Lee University School of Law in Virginia and is a graduate of Colgate University in New York.

Organization Position Status
Public Service Enterprise Group Incorporated Senior Vice President, Law, Pseg Services Corporation Current
Colgate University Former

Organization Position Status
Public Service Enterprise Group Incorporated Vice President, Engineering & Technology Support Current

Derek M. Di Risio was named vice president and controller of Public Service Enterprise Group (PSEG), Public Service Electric and Gas Company (PSE&G), PSEG Services Corporation, PSEG Energy Holdings (Holdings) and PSEG Power, in December 2006. He was previously vice president and assistant controller, since July 2004. Mr. Di Risio had been vice president – planning and analysis of Holdings since March 2004, and vice president – controller for Holdings since July 1998. Prior to that he was director – accounting services and responsible for several accounting and planning functions for Holdings, including overall coordination of the business planning process, accounting research and policy development, financial forecasts and analysis. Mr. Di Risio was also responsible for the budgeting, analysis and reporting process for PSE&G. Mr. Di Risio joined PSE&G in September 1991 and has held a variety of positions, including assignments with the internal auditing, electric business, and corporate planning departments. He was instrumental in reengineering the Enterprise business planning process, and advancing the use of performance metrics and balanced scorecard measures to improve business results. Prior to joining PSE&G he worked for several firms, including Chase Manhattan Bank. Mr. Di Risio graduated from Rutgers University with a degree in accounting/computer science, and received a Master of Business Administration degree from the same university. He is a certified public accountant and a certified internal auditor. Mr. Di Risio also completed the Program for Management Development at the Graduate School of Business Administration of Harvard University.

Organization Position Status
Public Service Enterprise Group Incorporated Vice President and Controller Current

Organization Position Status
Public Service Enterprise Group Incorporated Vice President and General Counsel (Power) Current
PSEG Power LLC Vice President Current
The Nature Conservancy Board of Directors Current
PSEG Power LLC General Counsel Former
Seton Hall University doctor of jurisprudence degree Former
Seton Hall University School of Law Doctor of Jurisprudence Degree Former
Lafayette College Bachelor's Degree Former

Organization Position Status
Public Service Enterprise Group Incorporated Vice President, Nuclear Assessment Current

Mark G. Kahrer was elected vice president – finance, PSE&G for PSEG Services Corporation, in December 2006. He was previously vice president – finance and development of PSEG Power, since May 2005. Mr. Kahrer is responsible for strategic planning, financial analysis, reporting, forecasting and the balanced scorecards and benchmarking, as well as analyzing the development activities for PSE&G. Previously, Mr. Kahrer was assistant treasurer of Public Service Enterprise Group Incorporated (PSEG), responsible for directing the corporate finance department, capital market transactions, and daily oversight of the company’s pensions, trusts, and insurance programs. He joined PSEG in 1983 as an accountant and has held the positions of director – corporate accounting, director – financial risk management, manager – corporate strategic planning, and manager – federal affairs. Mr. Kahrer is a certified public accountant, holds a Bachelor of Science degree in accounting from Saint Peter’s College, and a Master of Business Administration degree in finance from Seton Hall University. He is the treasurer of PEGPAC, PSEG’s political action committee and a regent of Saint Peter’s College. Mr. Kahrer is also a past president of the Saint Peter’s College Alumni Association board of trustees and the former treasurer of the ARC of Essex County Foundation Board.

Organization Position Status
Public Service Enterprise Group Incorporated Vice President, Finance Current

Organization Position Status
Public Service Enterprise Group Incorporated Vice President, Site Operations Current

Organization Position Status
Public Service Enterprise Group Incorporated Vice President & Controller Current
PSEG Energy Holdings LLC Controller & Vice President Current
Public Service Electric & Gas Co. Vice President & Controller Current
Public Service Enterprise Group Incorporated Board of Directors Current
University of Missouri-Columbia Professor of Medicine and Oncology Former

ALBERT R. GAMPER, JR. has been a director since December 2000. Age 67. Director of PSE&G. Until retirement, was Chairman of the Board of CIT Group, Inc., Livingston, New Jersey, a commercial finance company, from July 2004 until December 2004. Was Chairman of the Board and Chief Executive Officer of CIT Group, Inc. from September 2003 to July 2004, Chairman of the Board, President and Chief Executive Officer from June 2002 to September 2003 and President and Chief Executive Officer from February 2002 to June 2002. Was President and Chief Executive Officer of Tyco Capital Corporation from June 2001 to February 2002. Was Chairman of the Board, President and Chief Executive Officer of CIT Group, Inc., from January 2000 to June 2001 and President and Chief Executive Officer from December 1989 to December 1999. Trustee to the Fidelity Group of Funds.

Organization Position Status
Public Service Enterprise Group Incorporated Director of Pse&G Current
Public Service Enterprise Group Incorporated Chair Current

Organization Position Status
Public Service Enterprise Group Incorporated Director, External Affairs Current

CONRAD K. HARPER has been a director since May 1997. Age 67. Chair of Corporate Governance Committee and member of Finance Committee, Fossil Generation Operations Oversight Committee and Nuclear Generation Operations Oversight Committee. Director of PSE&G. Of counsel to the law firm of Simpson Thacher & Bartlett LLP, New York, New York since January 2003. Was a partner from October 1996 to December 2002 and from October 1974 to May 1993. Was Legal Adviser, U.S. Department of State from May 1993 to June 1996. Director of New York Life Insurance Company.

Organization Position Status
Public Service Enterprise Group Incorporated Director of Pse&G Current
Public Service Enterprise Group Incorporated Board of Directors Current

Eileen A. Moran is president of PSEG Resources and chair of PSEG’s pension and nuclear decommissioning trust fund committees. Ms. Moran had been senior vice president – strategic initiatives of PSEG Services Corporation, until December 2008. She held that position while retaining her positions as president of PSEG Resources (effective May 1990) and president of the Enterprise Group Development Corporation (EGDC) (effective January 1997). Ms. Moran joined Public Service Electric and Gas Company (PSE&G) in 1977 and has held a number of positions in the finance and investment areas of PSE&G, including that of assistant treasurer. She also served as vice president – investments of Resources from 1986, until her election as president. Ms. Moran received a Bachelor of Science degree in business administration from Seton Hall University and a master’s and doctorate degrees in economics from Fordham University. She also completed the Harvard Graduate School of Business Administration’s Program for Management Development. Ms. Moran is a board member of Duff & Phelps Utility and Corporate Bond Trust; DTF Tax - Free Income Fund; and the DNP Select Income Fund. She also is a member of the Benedictine Academy Advisory Board.

Organization Position Status
Public Service Enterprise Group Incorporated Director of Power Current
Public Service Enterprise Group Incorporated Board of Directors Current

I began my career with PSE&G in 1986 as a programmer in fossil production/system operations. I soon progressed to the position of senior programmer analyst and continued in that position for approximately four and a half years. After a few more lead roles in the information technology department, I decided to change my career. I took on the job of interconnection and wheeling manager in transmission and participated in a major generation strategy project. I then became a business planning manager for a few years, then became a district manager in customer services, joined a team looking at PSE&G strategy and now am a manager of business development in the appliance service business. I have thoroughly enjoyed my career at PSE&G and think that opportunities abound for smart and motivated employees.

Organization Position Status
Public Service Enterprise Group Incorporated Marketing Director Current

I was hired February 1986 as an engineer and held various engineering positions in gas distribution field locations for four and a half years. Then I was assigned to the corporate industrial relations department on a rotational assignment for two years and participated in the 1992 labor negotiations. After my stint in industrial relations I spent six months working on gas distribution business plans, budgets, and otherperformance issues. For the last eight years I have served as an area distribution manager in several gas distribution locations. I led the merger of two gas locations.

Organization Position Status
Public Service Enterprise Group Incorporated Area Distribution Manager Current

I started my career at PSE&G in February of 1986 as a street helper for the gas distribution department, where I learned a lot. I learned the characterbuilding value of hard physical work and the value of teamwork, especially when I was involved in gas field operations. There are no individuals on gas pipe construction crews. Every member of the crew has an important role in completing the work in a safe and timely manner. Being that we worked with a volatile substance (natural gas), constant communication was vital during the course of the workday. I'm currently working as business process manager for the customer order fulfillment group in Newark. This is a position I've held since early 1999. I made the move from gas distribution to customer order fulfillment to expand my knowledge of PSE&G's different business areas and the utility industry in general.

Organization Position Status
Public Service Enterprise Group Incorporated Business Process Manager Current

Organization Position Status
Public Service Enterprise Group Incorporated Product Manager, Marketing Current

In 1979, I joined PSE&G as a meter reader. I held the position for nearly 10 years and, during that time, had the opportunity to complete my college education at night thanks to PSE&G's tuition reimbursement program. With the proud addition on my resume of a Bachelor of Science degree in Business Management, I was selected to attend the corporate Management Training Orientation Program (MTOP) in 1989. The program provided a wealth of experience and introduced me to a variety of supervisory positions in customer operations. Currently I am a manager in appliance services and member of the Senior Leadership Team responsible for providing strategic direction and ensuring operational excellence for the business. I am also the By-Laws Committee chair and member of the Executive Board of the American Association of Blacks in Energy- New Jersey Chapter. This nonprofit organization ensures that African-Americans and other minorities have a voice in decision-making processes involving energy policies, regulations, technologies, and the environment. Such affinity groups are strongly supported by PSE&G.

Organization Position Status
Public Service Enterprise Group Incorporated Manager, Appliance Service Business Current

Les Morton, CISSP, CISA, CPA, CISM, CIPP is the Information Protection Manager at Public Service Enterprise Group and was previously in management positions at ITT, General Instrument, Warner Lambert, CBS, and Prudential Insurance. His area is responsible for comprehensive security governance, security awareness, and computer forensic investigations and forensic litigation support. Les is an active member of the High Tech Crime Investigators Association, the American Society for Industrial Security, and other security and control related organizations.

Organization Position Status
Public Service Enterprise Group Incorporated Information Protection Manager Current
American Society for Industrial Security Board of Directors Current
New Jersey Infragard Board of Directors Current
American Society for Industrial Security Active Member Current

Organization Position Status
Public Service Enterprise Group Incorporated Media Relations Manager Current

Organization Position Status
Public Service Electric & Gas Co. Manager Supply & Development Current
Public Service Enterprise Group Incorporated Development Manager Current

My career started in 1982 in the underground department as a helper. As I look back, working there developed my character and challenged me as an individual. I was fortunate to have mentors who gave me the opportunity to grow as a professional by giving me a variety of leadership responsibilities. In 1984, I applied for and was accepted into the position of meter technician where I was involved in troubleshooting electrical problems, determining customers' electrical needs, and helping to get customers back in power during storm restoration.

Organization Position Status
Public Service Enterprise Group Incorporated Meter Supervisor Current

Organization Position Status
Public Service Enterprise Group Incorporated Engineering Technician Current

Morton A. Plawner was named vice president of Public Service Enterprise Group Incorporated (PSEG), in December 2006. He retained the position of treasurer of PSEG, which he has held since 1998. Mr. Plawner has also been vice president and treasurer of Public Service Electric and Gas Company (PSE&G), since 1998. In 1999 he was elected vice president and treasurer of PSEG Power. Mr. Plawner joined PSE&G in 1969 as an assistant engineer in the electric division. He held various positions in the treasurer’s department before being named manager – financial research in 1976. In that capacity he assumed the responsibility for the development and operations of the tactical and strategic corporate modeling programs. Mr. Plawner actively participated in the company’s rate case proceedings in the 1970’s and 80’s, and served on the strategic planning task force in 1985-86. In 1989 he was named risk manager, and became general manager – property and risk management in 1994. Mr. Plawner graduated from the City College of New York with a Bachelor of Engineering degree in mechanical engineering and from Rutgers University with a Master of Business Administration degree. He earned the designation of associate in risk management from the Insurance Institute of America in 1992 and completed the advancement program at Duke University in 1994. He is an elected member of the Tau Beta Pi Association. Mr. Plawner has also been a member of the insurance advisory committees of Nuclear Mutual Limited (NML) and Nuclear Electric Insurance Limited (NEIL), which are the nuclear industry mutual insurance companies.

Organization Position Status
Public Service Electric & Gas Co. Vice President & Treasurer Current
Public Service Enterprise Group Incorporated Treasurer Current
Public Service Enterprise Group Incorporated Board of Directors Current

I began my career at PSEG in April 1997 as a temporary employee. A month later, I was hired as a senior secretary in the marketing department primarily working with gas and electric tariffs. In January 1998, I became an administrative assistant at PSEG Energy Technologies within the pricing and regulatory group, again focusing on tariff-related work activity. In November 1998, I accepted a position within PSE&G's Sales and Service organization working as a customer operations assistant in support of various economic recovery programs. My latest career move took place in May 2000 when I became a financial analyst for utility planning where I support the customer services department by doing planning and budgeting work. This position, which I currently hold, has given me the opportunity to leverage my formal education in finance with the practical application of financial tools and techniques. Having previously worked in an area with direct customer interaction has also provided me with the opportunity to develop my customer/client relations skills, as well as the required technical knowledge.

Organization Position Status
Public Service Enterprise Group Incorporated Financial Analyst Current

Before I started working with PSE&G in 1981, I had a job in the health services field. I was in my mid-20s and really wanted a change. My dad worked for PSE&G at the time and suggested that an entry-level position such as Underground Technician in the Electric Division might be just the thing so I applied, and got the job. Now, I was "in" and had the advantage of seeing what other positions were available before they were advertised externally. After about nine months, I bid to get a job I really wanted in the Street Lighting Department and here I am today, as a Street Light Inspector. I love my work. I change fixtures, reconnect and disconnect lights, convert lights, sometimes teach new people starting out in the Division, and I get to do it all outdoors.

Organization Position Status
Public Service Enterprise Group Incorporated Meter Supervisor Current

I started with PSE&G in 1987 as a helper in the underground department and held progressively more responsible positions through 1999, when I took on the role of technical specialist of electric underground distribution. During that time, I attended college in the evenings for 10 years to earn a bachelor's of arts degree in human resource management. I could not have accomplished this without the PSE&G Tuition Reimbursement Program and the help of my friends on the job (who gave me the support to continue when I wanted to quit school). I enjoy the challenges of being a technical specialist and the responsibilities that come with the job. My manager empowers me to make my own decisions and that's a great feeling. He's also always there to see that I succeed. Most recently, my responsibilities grew and I now provide consulting services to PSEG Global. This addition to my work enabled me to travel to Venezuela, where I assisted on the Turboven Project as an underground industry expert. I am scheduled to return there in the fall. During my time at PSE&G, I have been presented with many obstacles and challenges and have been able to get through them with the help of some really good people that work here. This is and has always been a family and I am honored be a part of it.

Organization Position Status
Public Service Enterprise Group Incorporated Technical Specialist Current

Dr. Jackson, age 62, has served as a director of NYSE Euronext and its predecessors since November 2003. Dr. Jackson is also the chairperson of the board of directors of NYSE Regulation and serves on the Board of Governors of the Financial Industry Regulatory Authority (FINRA). Dr. Jackson has been president of Rensselaer Polytechnic Institute since 1999. From 1995 to 1999, she was chairman of the U.S. Nuclear Regulatory Commission. Dr. Jackson also serves as a director of Federal Express Corporation, Public Service Enterprise Group Incorporated, Marathon Oil Corporation, International Business Machines Corporation and Medtronic, Inc. (all U.S. corporations). Dr. Jackson is both a former president and chairman of the board of the American Association for the Advancement of Science (AAAS). She is also a member of the National Academy of Engineering, the American Philosophical Society and is a fellow of the American Academy of Arts and Sciences and a number of other professional organizations. Dr. Jackson serves as a trustee of the Brookings Institution and is a member of the Council on Foreign Relations. She is a life member of the M.I.T. Corporation (the M.I.T. Board of Trustees).

Organization Position Status
Rensselaer Polytechnic Institute President Current
American Academy of Arts and Sciences Fellow Current
Smithsonian Institution Board of Regents Current
American Physical Society Fellow Current
Contra Cabal Current
Public Service Enterprise Group Incorporated Chair Current
NYSE Regulation, Inc. Chairman Current
The Brookings Institution Board of Trustees Current
Medtronic, Inc. Board of Directors Current
FedEx Corporation Board of Directors Current
NYSE Euronext Board of Directors Current
International Business Machines Corporation Board of Directors Current
Public Service Enterprise Group Incorporated Board of Directors Current
Marathon Oil Corporation Board of Directors Current
Council on Foreign Relations Member Current
National Academy of Engineering Member Current
Rutgers University Professor, Theoretical Physicist Former
AT&T Bell Laboratories Theoretical Physicist Former
U.S. Nuclear Regulatory Commission Chairman Former

Organization Position Status
The Bank of New York Mellon Corporation Executive Chairman Current
Public Service Enterprise Group Incorporated Executive Chairman, The Bank of New York Mellon Corporation Current
The Bank of New York Mellon Corporation Board of Directors Current
The Bank of New York Company, Inc. Chairman & Chief Executive Officer Former
Public Service Enterprise Group Incorporated Board of Directors Former
Rutgers University BA in Business Administration Former

Organization Position Status
Merck & Co. Inc. Vice President & Treasurer Current
Merck Holdings Inc. Treasurer Current
Public Service Enterprise Group Incorporated Board of Directors Current

Organization Position Status
Public Service Enterprise Group Incorporated Board of Directors Current

DAVID LILLEY has been a director since February 2009. Age 62. Until retirement, was Chairman of the Board, President and Chief Executive Officer of Cytec Industries Inc., West Paterson, New Jersey, which is a global specialty chemicals and materials company, from January 1999 until December 2008. Was President and Chief Executive Officer from May 1998 to January 1999 and President and Chief Operating Officer from January 1997 to May 1998. Director of Arch Chemicals Inc., Cytec Industries Inc. and Rockwell Collins, Inc.

Organization Position Status
Public Service Enterprise Group Incorporated Director Current

Organization Position Status
Public Service Enterprise Group Incorporated Board of Directors Current
Public Service Enterprise Group Incorporated Chairman, President & CEO Former

Organization Position Status
Public Service Enterprise Group Incorporated Board of Directors Current
Applied Semiconductor International Ltd. Board of Directors Current
Hoechst Celanese Chief Executive Officer Former
Hoechst Celanese President Former

HAK CHEOL (H.C.) SHIN has been a director since May 2008. Age 51. Has been Executive Vice President-Industrial and Transportation Business of 3M Company, St. Paul, Minnesota, a diversified technology company, with product lines in the consumer and office, health care, electronics, industrial, graphics, transportation, safety and telecommunications markets, since January 2006. Was Executive Vice President- Industrial Business from June 2005 to January 2006. Was Division Vice President- Industrial Adhesives and Tapes Division from July 2003 to June 2005, Division Vice President-Electronics Markets Materials Division from October 2002 to June 2003, and Division Vice President-Superabrasives and Microfinishing Systems Division from March 2001 to October 2002.

Organization Position Status
Public Service Enterprise Group Incorporated Board of Directors Current

Organization Position Status
Public Service Enterprise Group Incorporated Board of Directors Current

Organization Position Status
Beginner Real Estate Investing Inc. Board of Directors Current
CVS Caremark Corporation Board of Directors Current
Public Service Enterprise Group Incorporated Board of Directors Current
Ingersoll-Rand Company Limited Board of Directors Current
Foster Wheeler Ltd. President & Chief Executive Officer Former
Foster Wheeler Ltd. Chief Operating Officer Former
Ingersoll-Rand Company Limited Director of Hubbell Incorporated Former
Foster Wheeler Ltd. Chairman Former

Organization Position Status
Public Service Enterprise Group Incorporated Board of Directors Current

President and Chief Executive Officer of the Company. Director of Public Service Enterprise Group Incorporated and Sensient Technologies Corporation.

Organization Position Status
Sealed Air Corporation President & CEO Former
Sensient Technologies Corporation Board of Directors Current
Sealed Air Corporation Board of Directors Current
Public Service Enterprise Group Incorporated Board of Directors Current
Sensient Technologies Corporation Director of Sealed Air Corporation Former

Executive News

  • High-Stakes Quest for Permission to Pollute: Interest Groups Press Congress for Cap-and-Trade Allowances in Climate-Change Legislation

    Washington Post - 6/05/09 - View Story

  • High-Stakes Quest for Permission to Pollute

    Washington Post - 6/04/09 - View Story

  • PSE&G Proposes to Lower Winter Natural Gas Bills 7 Percent

    PR Newswire - 5/29/09 - View Story

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     PEG $31.43 +0.31 (1.00% )
Average Volume 3,102,800
Shares Outstanding 505.98M
Market Cap 15.9B
Year High 34.02
Year Low 23.65
Earnings Per Share 2.91
P/E Ratio 10.80
Dividend 1.33
Yield 4.23
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