Discussing the future of hydrogen and nuclear energy at Rowan University

By Ralph LaRossa, PSEG Chair, President and CEO

At PSEG, we are always thinking about how we can work toward our company’s Powering Progress vision for a future where people use less energy and it’s cleaner, safer and more reliable than ever. That’s why I was excited to join a conversation hosted by the Steve Sweeney Center for Public Policy at Rowan University on Monday, October 23, 2023, to talk about the challenges and steps our industry is taking to get to a cleaner energy future.

The discussion—which was moderated by Rowan Provost Tony Lowman and where I was joined by fellow panelists Steven Westhoven, CEO of New Jersey Natural Resources and Michael Renna, CEO of South Jersey Industries—centered on the future of nuclear and hydrogen and how these emerging technologies will impact the way people consume energy in this state.

The panel gave PSEG an opportunity to double-down on some things we have been saying for a long time: that we will continue to invest in and support our nuclear plants and that we will explore new opportunities that are appropriate for our business. One of these new opportunities is how hydrogen and other fuels of the future such as renewable natural gas will factor into our planning moving forward.

PSEG’s nuclear plants have been around for 40 years, and they produce 85% of New Jersey’s clean power, so maintaining them is an important part of the transition to a clean energy future. While the introduction of hydrogen is still in the early stages here in New Jersey, we were excited to recently receive the news that the federal Department of Energy had awarded up to $750 million for the Mid-Atlantic Clean Hydrogen Hub (MACH2). PSEG participated in the application process for this project.

PSEG has been operating in New Jersey for 120 years and counting, and we value that both our nuclear plants and hydrogen opportunities like MACH2 are significant economic drivers that benefit our state and the people who live and work here. Our nuclear plants in South Jersey are the stimulus for more than over $1 billion in both direct and indirect economic activity in that region every year. We are also excited about the job creation and economic development prospects that a project of MACH2’s magnitude will bring to the region. The MACH2 hub anticipates creating 20,800 direct jobs—14,400 in construction jobs and 6,400 permanent jobs— though it still remains to be seen how many of these jobs will come to New Jersey or PSEG directly.

While we are enthusiastic about the energy transition and the role we have to play, PSEG also knows that we have to move forward with safety, affordability and reliability at the forefront of our planning. PSEG, along with others in the industry, will continue to work with our partners in the state and at PJM, the regional grid transmission operator, to find a responsible path forward. We believe we can both achieve energy goals and provide affordable and reliable energy.

I want to thank Rowan, University President Ali?Houshmand, former Senate President Steve Sweeney and my fellow panelists for a great event. PSEG looks forward to making continued progress toward a cleaner energy future.