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Steep drop in natural gas prices informs major shift at PSEG
Upgrades and extensions to the regional power grid are increasingly driving the profits of Public Service Enterprise Group, a reversal of the past trends and one that could have big implications for customers if power prices rise.
Public Service Electric & Gas, the company’s regulated utility, plans to invest a staggering $5.4 billion in its electric and gas transmission and distribution systems over the next three years. Two-thirds of the expenditures are targeted at electric transmission, where the company earns more for every dollar it spends. (Johnson, NJ Spotlight)
