PSEG Claims Among Lowest Power Producer CO2 Emissions (Ind Report)
Public Service Enterprise Group (PSEG)
In the Garden State, Newark-based power producer Public Service Enterprise Group (PSEG) is touting its record as having one of the lowest carbon emissions rates of the nation's largest power producers, according to Benchmarking Air Emissions of the 100 Largest Electric Power Producers in the United States
, a recently released report by M.J. Bradley & Associates, Bank of America, CERES, Entergy, Exelon and NRDC. According to the report:
In 1993, PSEG became the first electric utility in the U.S. to volunteer to participate in the Climate Challenge Program; PSEG successfully met this goal and stabilized carbon dioxide emissions from its New Jersey plants to 1990 levels by 2000.
In 2002, PSEG joined EPA's Climate Leaders program to reduce the six greenhouse gases covered under the Kyoto Protocol. Under this program, PSEG committed to reduce its CO2-equivalent GHG emissions on a pound-per-mWh basis by 18 pct from 2000 levels by Dec. 31, 2008. PSEG surpassed this goal by achieving a 31 pct reduction, due primarily to the fact that more than half our power comes from nuclear generation.
In 2009, PSEG established a new goal of reducing company-wide GHG emissions by 25 pct from 2005 levels by 2025. PSEG met this goal 14 years ahead of schedule. PSEG achieved this goal through implementation of energy efficiency programs, deployment of renewable energy, increasing nuclear output and building clean, efficient natural gas generation.
Since 2010, PSEG has invested approximately $400 million in energy efficiency initiatives that reduce emissions in hospitals, multifamily housing and buildings occupied by nonprofits and government agencies.
In 2018, PSEG announced its new goal of eliminating 13 million metric tons of CO2-equivalent by 2030 from 2005 levels. The new goal expands upon previous reduction goals, including efficiency upgrades of existing combined-cycle natural gas fleets and the retirement of the company's New Jersey and Connecticut coal plants.
PSEG has invested $1.7 Billion in 625 MWs of solar, including 211 MWs in New Jersey and 23 projects in 14 states totaling 414 MWs. PSEG is New Jersey's leading developer of solar energy resources and is an active supporter of efforts to develop offshore wind facilities.
Supplying more than 90 pct of the state's emissions-free power, PSEG's Salem and Hope Creek nuclear generating plants play a key role in supporting New Jersey's clean energy goals.
Download the Benchmarking Air Emissions of the 100 Largest Electric Power Producers in the United States report HERE.
(Source: PSEG, CSRWire 28 June, 2019) Contact: PSEG, PSE&G, PSEGPower, www/investor.pseg.com
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PSEG Plans Major Energy Efficiency, Storage Investments (Ind. Report)
Newark, New Jersey-headquartered Public Service Enterprise Group (PSEG) has released a plan to invest $14 billion to $17 billion over the next five years.
The program, if approved, would include a significant increase in the utility's energy efficiency investments and provide an opportunity for annual growth of 8 pct to 10 pct in PSE&G's rate base.
The proposal includes:
$2.5 billion for energy efficiency to reduce bills and lower energy use, which will decrease air pollution, including emissions that accelerate climate change;
$300 million for building a "smart" electric vehicle infrastructure; and
$100 million for utility-scale energy storage systems that will enable greater development of renewable resources and enhance resiliency.
PSEG estimates that the energy efficiency program will over the six-year life of the program, reduce CO2 emissions by 24 million tons and reduce energy use by 40 million MWh of electricity and 675 million therms of natural gas.
PSEG expects to file its clean energy plan with the New Jersey Board of Public Utilities later this year. (Source: PSEG, PR, 31 May, 2018)Contact: PSEG, Courtney McCormick, VP Renewables and Energy Efficiency, www.pseg.com
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