(September 30, 2009 – Washington, DC) -  Ralph Izzo, Chairman, President and Chief Operating Officer of Public Service Enterprise Group (PSEG), today attended a press conference on Capitol Hill and made the following statement regarding the introduction of climate change legislation in the Senate:

“PSEG is pursuing many carbon reduction initiatives, and we stand ready to do more.  While the actions of companies and individuals are necessary and important, strong climate policies at the national level are essential to successfully address this challenge.  Establishing a price on carbon – through a cap and trade program -- will afford businesses the certainty they need to invest in a new green energy economy. 
 
“If we give climate change the priority it deserves and tackle the problem seriously we will improve our nation’s energy security, create new green jobs, grow a new sector of the economy, and safeguard the planet for future generations.

“The introduction of this legislation today is an important step in the right direction.  PSEG applauds the efforts of Senators Boxer and Kerry and urges quick action to safeguard our future.”

Public Service Enterprise Group (NYSE:PEG) is a publicly traded diversified energy company with annual revenues of more than $13 billion, and three principal subsidiaries: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Energy Holdings.