As of 6:29 a.m., PSEG Long Island reports 15,528 total customers without power. The majority of these tax items are expected to reverse over the coming quarters through 2021 and beyond. PSEG expects full-year earnings in the range of $3.35 to $3.50 per share. Public Service Enterprise Group (PSEG) announced today that Grace H. Park has been promoted to Vice President, Deputy General Counsel and Chief Litigation Counsel, effective July 27. Approximately 290 of that total are outages reported during the storm period, which impacted 420,000 customers. Made In NYC | Non-hazardous winds are expected to continue into the evening. Our commitment to safely providing reliable service to all our customers remains PSEG's core focus. (1)Indicates Period Net Generation, negative value reflects more GWh required to operate plants than were generated. In balancing its commitment to the consistent, safe delivery of power with its commitment to being a good environmental steward, PSEG Long Island has awarded Hailey Van Cott, a Suffolk County Girl Scout from Stony Brook, with a $200 donation towards her Girl Scout Gold Award project of improving the raptor facilities at Sweetbriar Nature Center. For additional information about PSEG, please refer to our SEC Forms 10-K, 10-Q, 8-K, and other filings for a discussion of factors that may cause results to differ from management's projections, forecasts and expectations, and for a reconciliation of non-GAAP financial information to GAAP results. (c) Excludes amounts related to Operating Earnings (non-GAAP) reconciling items. PSE&G in partnership with Governor Murphy and the NJBPU, extended to March 2021 the temporary suspension of non-safety related electric and gas residential service shut-offs that began in March 2020. As of 9 p.m., PSEG Long Island has restored power to 38,200 customers, 84% of those affected since midnight by the heavy rain, strong winds and gusts that downed trees, branches and wires. PSE&G announced today that it is issuing a bill credit for its gas supply during February and March due to lower gas supply costs. (c) Excludes amounts related to Operating Earnings (non-GAAP) reconciling items. As of 9:30 p.m., 87% of customers affected have been restored. Subscribe today to the Daily Power Industry Newsletter for the most up-to-date and relevant utility industry news. As we continue to monitor developments regarding the coronavirus, PSE&G recognizes that some of our customers may be negatively affected by issues related to the pandemic. So, the shares are expected to perform in line with the market in the near future. PSEG Long Island awarded Farmingdale’s Whiskey Down Diner with a $25,000 economic development grant from its Main Street Revitalization Program. We understand how critical it is to share accurate and timely information with our customers and we continue working diligently to fully resolve these issues. Certain of the matters discussed in this release about our and our subsidiaries' future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences and all other statements that are not purely historical constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Strong winds and hazardous gusts caused significant damage in Nassau and Suffolk County, bringing down large branches and wires and affecting 13,944 of our 1.1 million customers. It is not long for this world. Following the NJBPU's approval of the CEF-EE settlement, PSE&G updated its 2020-2024 Compound Annual Growth in Rate Base projection to 7% to 8%, from the prior 6.5% to 8%, and narrowed PSE&G's capital investment program over the same 5-year period to $12.5 billion to $14.7 billion. Other factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are discussed in filings we make with the United States Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K. Distribution related depreciation lowered Net Income by $0.01 per share. Will the state’s clean-energy goals be more readily achieved by remaining in the regional power grid or by bolting it out of fear that staying — along with certain federal policies — could undermine efforts to combat climate change? Approximately 331,000 customers are currently without power. PSEG Long Island: Storm Update -- April 14, 2020, 4:30 p.m. PSEG Long Island: Storm Update -- April 14, 2020, 6:30 a.m. PSEG Foundation Commits $2.5 Million to Support Medical, Social and Economic Needs of New Jersey Communities Amid Devastating COVID-19 Pandemic. Approximately 6,600 of that total are outages reported during the storm period, which impacted 420,000 customers. Several PSEG Long Island facilities will be utilized to assist Island Harvest with upcoming donation drop-off days. PSEG shares have risen 1% since the beginning of the year, while the Standard & … If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. PSE&G encourages customers to properly handle and dispose of Mylar balloons to prevent them from drifting into power lines and causing power outages. For 2021, Power has hedged 75% - 80% of forecast production of 48 - 50 TWh at an average price of $35 per MWh. (a) Includes activities at Energy Holdings, PSEG Long Island and the Parent as well as intercompany eliminations. PSEG Long Island is prepared for the strong thunderstorms that may hit the service area this afternoon. PSE&G and PSEG LI worked around the clock alongside nearly 3,000 mutual aid personnel in New Jersey and over 5,000 in Long Island to restore 90% and 80% of affected customers in NJ and LI within 72 hours, respectively. We are updating both the forecast of PSEG Power's non-GAAP Operating Earnings for 2020 to a range of $385 million - $430 million (from $345 million - $435 million), and our estimate of non-GAAP Adjusted EBITDA to a range of $980 million to $1,045 million (from $950 million - $1,050 million). failure to sell or otherwise dispose of all or a portion of PSEG Power's non-nuclear generating fleet on terms that are favorable to us, or at all, or any delay of such transaction or transactions due to market conditions, the failure to satisfy conditions to closing or otherwise. These kinds of discussions are crucial. Public Service Enterprise Group (PSEG) and the Rutgers University Center on Policing (COP) today announced the launch of a landmark police reform initiative to help New Jersey police departments review policies and practices, and help them improve relationships with diverse communities. 811 is the designated national dialing code to have underground lines located and marked before beginning projects around the home or business. The approaching weather system may generate storms with peak gusts up to 55 mph, which may cause tree limbs to break and pull down wires, causing outages. Public Service Electric & Gas Co. is prepared for thunderstorms, wind gusts and hail forecasted for the service area today. As of 2:29 p.m., PSEG Long Island reports 25,142 total customers without power. April is National Safe Digging Month, and PSEG Long Island is reminding customers, contractors and excavators to call before digging to avoid hitting underground pipelines, conduits, wires and cables. Public Service Electric & Gas Co. is prepared to respond to hurricane force winds, heavy rain and thunderstorms forecast for the service area over the next few days. See Attachments 8 and 9 for a complete list of items excluded from Net Income in the determination of non-GAAP Operating Earnings and non-GAAP Adjusted EBITDA. New Jersey implemented an increase in a corporate surtax to 2.5% during the quarter, lowering comparisons by $0.01 per share to third quarter 2019. Non-GAAP Operating Earnings exclude the impact of returns (losses) associated with the Nuclear Decommissioning Trust (NDT), Mark-to-Market (MTM) accounting and material one-time items. PSEG Long Island Reminds You to Call Before You Dig, PSE&G Urges Everyone to Follow Safe Digging Practices; Call 811 Before You Dig, Bird’s Eye View: PSEG Long Island Osprey Cams stream video for 24/7 enjoyment of majestic birds, PSE&G Inspects Power Supply & Equipment to Bolster Reliable Service to Hospitals, Power On: PSEG Long Island Continues to Storm-Harden the Grid, Bolstering Hospitals and Other Critical Facilities with Infrastructure Maintenance and Service Upgrades, PSEG Donates 50,000 N95 Masks to Aid Response by Health Care and First Responders During COVID-19 Pandemic, PSEG Foundation Provides $45,000 Grant to Address Critical Needs of Children and Families, PSEG Foundation Supports The Community FoodBank of NJ’s Efforts to Reduce Food Insecurity During COVID-19 Outbreak, PSEG Long Island Implements Operational Updates to Continue to Safeguard Customer and Employee Health, PSE&G Implements Operational Updates to Continue to Safeguard Customer and Employee Health, PSEG Long Island Temporarily Suspends Shut-offs Due to the Coronavirus Outbreak, PSE&G Temporarily Suspends Shut-offs Due to the Coronavirus Outbreak, West Babylon’s Joseph Cattell Recognized by PSEG Long Island on Surveyors Week for 47 Years of Service, PSEG Long Island Continues to Raise Awareness of Utility Scams During National Consumer Protection Week, PSE&G Continues to Raise Awareness of Utility Scams During National Consumer Protection Week, St. Edward the Confessor Brightens Future with Lower Energy Costs, Helping Tokyo Utility Sharpen Storm Response as Olympics Near, PSEG Elects Scott G. Stephenson to Board of Directors, PSE&G’s Highland Park Solar Storage System Now in Service, PSEG Long Island Celebrates Its Engineers for Engineers Week, PSEG Long Island: Storm Update — Feb. 7, 2020 9:30 p.m.
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