August 5, 2024--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Corporate leaders at Public Service Enterprise Group Incorporated (NYSE:PEG) (PSEG) (Newark, New Jersey), the parent of New Jersey's largest electric and gas utility, plan to increase capital expenditures (capex) at the company's regulated utility business by more than 12%, to between $18 billion and $21 billion over the 2024-2028 period. In its prior five-year period, 2023-27, capex totaled between $16 billion and $18.5 billion, company officials said July 7. PSEG's transmission & distribution (T&D) utility, Public Service Electric & Gas (Newark), delivers electricity to 2.4 million customers and natural gas to 1.9 million customers, all in New Jersey. While regulated operations account for most of the corporate parent's business, it also operates a carbon-free merchant power business, PGEG Power, that owns or operates three nuclear power stations in the New Jersey-Pennsylvania area and other power-generation assets.
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