1. For further information, contact:
Kathleen A. Lally, Vice President – Investor Relations Phone: 973-430-6565
Greg McLaughlin, Sr. Investor Relations Analyst Phone: 973-430-6568
Yaeni Kim, Sr. Investor Relations Analyst Phone: 973-430-6596
April 17, 2008
TO: THE FINANCIAL COMMUNITY
FROM: KATHLEEN A. LALLY
RE: STATEMENT BY R. EDWIN SELOVER, PSEG’S EXECUTIVE VICE
PRESIDENT AND GENERAL COUNSEL ON THE NEW JERSEY’S DRAFT
ENERGY MASTER PLAN
“The release of New Jersey’s draft Energy Master Plan represents an important milestone in
the State's effort to address the impacts of climate change and to support a reliable and
affordable energy infrastructure. We commend the Governor for responsibly leading the
public debate on these important issues for the state. PSEG looks forward to participating in
the EMP review process and to working with the state to find solutions to the climate change
challenge that will benefit both the state and energy consumers.”
“We support the actions that the draft plan identifies for addressing climate change. These
include energy efficiency, renewable resources and clean central station power. As we have
publicly indicated, we are committed to providing energy efficiency services and renewable
energy on a large scale over the long term. Recently, the BPU approved our request to
provide $105 million of solar financing. We have other filings pending at the BPU that will
advance energy efficiency and the technological change that is necessary to meet the state’s
goals. PSEG has also responded to an RFP by the state’s Office of Clean Energy in its effort
to evaluate the development offshore wind power. In addition, we are pleased that the plan
acknowledges the need to consider new nuclear generation as a carbon-free source of
energy.”
“Since the Energy Master Plan process was started a year ago, PSEG has taken a number of
steps already to help Governor Corzine achieve his goals around energy efficiency and
renewable energy. In addition to PSE&G’s requests for regulatory approval to make
investments in solar energy and energy efficiency, we have made significant investments
towards “greening” our own operations. These efforts include switching to hybrid vehicles for
our fleet and installing more efficient electric distribution equipment. Our actions demonstrate
PSEG’s resolve to help New Jersey meet its energy mandates and address climate change.
In addition, we are taking a leadership role in advocating federal carbon “cap and trade”
legislation that will provide important market-based incentives for low-carbon energy sources
in the future.”

2. “PSEG also embraces the Energy Master Plan as an opportunity to continue to invest in New
Jersey and create jobs in the energy sector. For example, PSE&G, our utility business,
anticipates investing $1.6 billion in transmission lines over the next five to eight years. This
will help ensure the high standard of service our customers expect from PSE&G, which has
already garnered ReliabilityOne Awards in the Mid-Atlantic region for the last six years. The
effort will also result in adding about 300 permanent jobs at PSEG and will generate
hundreds of construction jobs.”
“PSEG has the experience, expertise, customer relationships and capital to invest that are
needed to help combat global warming effectively, provide reliable service and lead New
Jersey into a new energy future.”
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