With year-end approaching, we reflect on accomplishments of 2023

At PSEG, 2023 was a milestone year as we celebrated our company’s 120th anniversary. We could not be prouder to have been a part of our communities since 1903, and we aim to be a reliable and stable presence for the next 120 years and counting.

This year, our employees continued to do the hard work necessary to keep energy flowing for the 2.3 million gas customers and 1.9 million electric customers in New Jersey and 1.1 million electric customers on Long Island. We also continued to focus on how we can meet the needs of the future for our workforce and our communities.

The members of the PSEG Senior Executive Team wish everyone a healthy and happy holiday season and New Year.

In their own words, here are the things PSEG leadership wants to highlight from 2023 and what they are looking forward to in 2024:

PSEG Chair, President and CEO Ralph LaRossa: “I am incredibly proud of what the over 12,500 members of the PSEG team did in 2023. This year, our company continued our support for our nuclear plants and invested in our infrastructure to enhance reliability, reduce methane?leaks?and make the air cleaner in?our communities. We did this through projects including our Gas System Modernization Program (GSMP) and our Clean Energy Future - Energy Efficiency (CEF-EE) Program. We also supported economic growth by working with our union partners, contracting with diverse suppliers and by hiring people from underrepresented communities through our Clean Energy Jobs Program, an initiative that has built our team by 2,400 people. In 2024, we will?continue on?this path and focus on how we can meet the demands of the future for our customers while keeping affordability and safety front and center.”

PSE&G President and Chief Operating Officer Kim Hanemann : “This year, PSE&G executed our largest capital portfolio in company history, totaling 3.7 billion dollars, which included station upgrades,?69kV network expansion,?gas main replacements,?clean energy investments and technology upgrades like installing new smart meters at over 1.4 million homes.??In 2023, we received approval to extend the GSMP II program enabling continued reduction of methane emissions, and completed two filings that aim to keep New Jersey on track to achieve its five-year Clean Energy Act annual savings targets. ?All of this was accomplished while welcoming over 450 new employees, with another 250 employees transitioning to new positions throughout the utility. ?Customers recognize the great work that we do, and I want to thank PSE&G employees for their continued service to customers?that helped us rank #1 in customer satisfaction with J.D. Power Residential and Business Electric Service in the East among large utilities.?Most importantly, I would like to recognize our continued efforts on safety and ensuring our employees return home safely to their family and loved ones at the end of each day.”

PSEG Executive Vice President and Chief Financial Officer Dan Cregg: “In 2023, we maintained a strong financial control environment, which is foundational to all that we do.?We accomplished, through strong cross-functional teamwork,?two key initiatives to reduce the impact of our pension cost variability.?We have worked across the entire organization to make several important regulatory filings for investment programs, and shortly, for our rate case, as well as developing competitive opportunities for us to grow in the future.?We executed on nearly every element of our business plan to date, all against a backdrop of driving key strategic decisions that resulted in an improved business mix.?As a result, we are being rewarded with a top tier stock valuation.?Thank you to our employees for great work during a very productive year.”

President and Chief Nuclear Officer Chaz McFeaters: “In 2023, PSEG Nuclear continued to reach ever higher levels of performance with both Salem and Hope Creek sustaining excellence according to the standards established by the Institute of Nuclear Power Operations. Thanks to federal support through the Inflation Reduction Act, we initiated growth opportunities to increase generation. We continued the first-in-the-industry digital power inverter installations at both stations, which was recognized by the Nuclear Energy Institute with a Top Industry Practice Award. The Electric Power Research Institute also recognized the fleet for our innovative methodology for testing our reactor coolant system. This is in addition to investing in key improvements that enhance the equipment reliability, including a modification that will improve the reactor vessel health of both Salem units.”

Senior Vice President Human Resources, Chief Human Resources Officer and Chief Diversity Officer Sheila Rostiac : “To me, one word sums up my thoughts on 2023: gratitude. I am incredibly grateful that PSEG’s over 12,500 employees truly embody the spirit of our company and our aim to connect with the people we serve. We made significant advancements in workforce development, including 4-year contracts with our union partners and increased participation in internal employee engagement initiatives. Over the last two years, we hired 3,000 new people to fill roles across the company. We continued to focus on the safety and security of our employees and communities, something that also impacts the customer experience. As we approach the end of the year and celebrate the holiday season, I want to encourage everyone—our employees, our stakeholders and the people we serve—to take care of yourselves and your loved ones.”

Senior Vice President, Chief Information and Digital Officer Zeeshan Sheikh : “This year the PSEG IT team continued efforts to enable the workforce to deliver on customer outcomes by effectively leveraging process improvements, data, and secure technologies. Next year, we plan to continue building on our momentum and our efforts to modernize. The seamless transition to a more modern and robust IT infrastructure is a testament to the exceptional skills and teamwork of our IT employees.?Their contributions have made a lasting impact on our operations, and we are truly fortunate to have such a talented and dedicated IT team.”?

Senior Vice President, Corporate Citizenship Rick Thigpen : “In 2023, thanks to the state and national conversations about climate impacts and the importance of clean energy, there was an increased focus on the role of the utility industry in preparing our communities for the future. For Public Service that translated in 2023 to continuing forward with efforts to achieve sustainable success, meet our business goals with a focus on affordability for our customers and support the communities where we operate—all while supporting our state’s goals for economic development and a clean energy future. I am incredibly proud to be a part of the PSEG team for how we have been able to do all of this concurrently and with the spirit of ‘Public Service’ in mind.”