Public Service Enterprise Group

The Public Service Enterprise Group, Inc. (PSEG) is a publicly traded energy company based in Newark, New Jersey, where it has been based since its founding. It was founded in 1985, with its roots tracing back to 1903.

Its largest subsidiary is Public Service Electric and Gas Company (PSE&G), a regulated utility that supplies electricity and natural gas throughout New Jersey. Established in 1928, PSE&G is the state’s oldest and largest investor owned utility. It was originally part of the New Jersey-based Public Service Corporation.^{[dead link]}

PSE&G/PSEG origins date back to 1903 with the defunct Public Service Corporation.

The Public Service Electric and Gas Company, commonly referred to as PSE&G, is the primary subsidiary of the Public Service Enterprise Group (PSEG) and was established in 1928.

The Public Service Corporation was formed in 1903 by combining more than 400 gas, electric and transportation companies in New Jersey. In 1928, the corporation merged its electric and gas utilities into a single company, PSE&G. Also in 1928, Public Service Coordinated Transport was formed as an umbrella for the transit businesses. The parent Public Service Corporation was dissolved in 1948 and PSE&G became an independent company, with Public Service Coordinated Transport as a subsidiary.

PSCT was renamed Transport of New Jersey in 1971, and sold to New Jersey Transit in 1980, leaving PSE&G exclusively in the utility business.

The Public Service Enterprise Group (PSEG) was formed in 1985 to oversee the operations of Public Service Electric and Gas Company (PSE&G).

In 1989, the company created Enterprise Diversified Holdings Inc. (now PSEG Energy Holdings) to consolidate its unregulated businesses. In 2000, PSEG separated PSE&G’s unregulated national power generation assets into a new entity, PSEG Power. PSE&G continued to operate in New Jersey as a regulated utility company.