Public Service Enterprise Group Inc
SWB:PSE
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Public Service Enterprise Group Inc
In the vibrant landscape of America's utility sector, Public Service Enterprise Group Inc. (PSEG) has carved out a significant position as a stalwart in providing reliable energy services. Founded in 1903, this New Jersey-based company has grown into a diversified energy corporation, with its operations spanning primarily through its regulated subsidiary, Public Service Electric and Gas Company (PSE&G). PSE&G is responsible for delivering electricity and natural gas to millions of residential, commercial, and industrial customers across its service area. By ensuring the efficient generation, transmission, and distribution of energy, PSEG plays a critical role in maintaining the everyday rhythm of communities dependent on its services.
PSEG's business model hinges on a balanced portfolio that combines regulated distribution with a focus on clean energy initiatives. While PSE&G’s regulated utility operations provide a steady stream of revenue through consistent service delivery and infrastructure investments, PSEG Power, the company's former unregulated generation business, historically contributed through wholesale energy markets. PSEG is actively transitioning towards a more sustainable future, concentrating investments in modernizing its grid and expanding its renewable energy footprint, including solar and offshore wind projects. This approach not only aligns with evolving environmental standards but also strategically positions PSEG to navigate the shifting dynamics of the energy industry, balancing profit with purpose in the era of decarbonization.
In the vibrant landscape of America's utility sector, Public Service Enterprise Group Inc. (PSEG) has carved out a significant position as a stalwart in providing reliable energy services. Founded in 1903, this New Jersey-based company has grown into a diversified energy corporation, with its operations spanning primarily through its regulated subsidiary, Public Service Electric and Gas Company (PSE&G). PSE&G is responsible for delivering electricity and natural gas to millions of residential, commercial, and industrial customers across its service area. By ensuring the efficient generation, transmission, and distribution of energy, PSEG plays a critical role in maintaining the everyday rhythm of communities dependent on its services.
PSEG's business model hinges on a balanced portfolio that combines regulated distribution with a focus on clean energy initiatives. While PSE&G’s regulated utility operations provide a steady stream of revenue through consistent service delivery and infrastructure investments, PSEG Power, the company's former unregulated generation business, historically contributed through wholesale energy markets. PSEG is actively transitioning towards a more sustainable future, concentrating investments in modernizing its grid and expanding its renewable energy footprint, including solar and offshore wind projects. This approach not only aligns with evolving environmental standards but also strategically positions PSEG to navigate the shifting dynamics of the energy industry, balancing profit with purpose in the era of decarbonization.
Guidance Narrowed Upward: PSEG raised the lower end of its 2025 non-GAAP operating earnings guidance to $4–$4.06 per share, from $3.94–$4.06, citing strong year-to-date results.
Solid EPS Growth: Third quarter non-GAAP operating earnings were $1.13 per share, up from $0.90 in 2024; net income per share was $1.24, up from $1.04.
Strong Utility Performance: New electric and gas distribution rates and higher working capital recovery boosted PSE&G's results.
CapEx and Investment: About $1B invested in Q3 and $2.7B year-to-date as part of a $3.8B full-year regulated capital spending program.
Affordability & Supply Challenges: Management highlighted the growing supply-demand imbalance in New Jersey and ongoing affordability concerns as top issues for policymakers.
Balance Sheet Strength: PSEG expects to fund its $22.5–$26B 5-year capital program without issuing new equity or selling assets.
Dividend Growth & Outlook Reaffirmed: The company reaffirmed its 5–7% annual non-GAAP operating earnings growth target through 2029 and signaled ongoing dividend growth.
Management
Ralph A. LaRossa is the President and CEO of Public Service Enterprise Group Incorporated (PSEG), a major energy company based in Newark, New Jersey. He took on the role of CEO in September 2022, having been with the company for several decades. Before becoming CEO, LaRossa had an extensive career within PSEG, holding various key leadership positions. He served as the Chief Operating Officer of PSEG since 2021 and was instrumental in overseeing the company's major utility and power generation operations. Prior to that, he was the President and COO of PSEG Power LLC, where he played a critical role in managing the company's wholesale power generation and gas supply operations. LaRossa also previously served as the President and Chief Operating Officer of Public Service Electric and Gas Company (PSE&G), New Jersey’s oldest and largest regulated gas and electric delivery utility, which is a subsidiary of PSEG. In this role, he focused on improving utility operations and advancing infrastructure improvements to enhance reliability. Throughout his career at PSEG, LaRossa has been known for his leadership in promoting clean energy initiatives, advancing renewable energy projects, and improving the company’s operational efficiency. He has been a proponent of innovation and modernization within the energy sector. LaRossa holds a Bachelor of Science degree in mechanical engineering from Stevens Institute of Technology, and he is recognized for his commitment to community involvement and industry leadership. Overall, Ralph A. LaRossa is a seasoned utility executive with a strong background in operations and leadership within the energy sector.
Before becoming CEO, LaRossa had an extensive career within PSEG, holding various key leadership positions. He served as the Chief Operating Officer of PSEG since 2021 and was instrumental in overseeing the company's major utility and power generation operations. Prior to that, he was the President and COO of PSEG Power LLC, where he played a critical role in managing the company's wholesale power generation and gas supply operations.
LaRossa also previously served as the President and Chief Operating Officer of Public Service Electric and Gas Company (PSE&G), New Jersey’s oldest and largest regulated gas and electric delivery utility, which is a subsidiary of PSEG. In this role, he focused on improving utility operations and advancing infrastructure improvements to enhance reliability.
Throughout his career at PSEG, LaRossa has been known for his leadership in promoting clean energy initiatives, advancing renewable energy projects, and improving the company’s operational efficiency. He has been a proponent of innovation and modernization within the energy sector.
LaRossa holds a Bachelor of Science degree in mechanical engineering from Stevens Institute of Technology, and he is recognized for his commitment to community involvement and industry leadership.
Overall, Ralph A. LaRossa is a seasoned utility executive with a strong background in operations and leadership within the energy sector.
Daniel J. Cregg serves as the Executive Vice President and Chief Financial Officer (CFO) at Public Service Enterprise Group Incorporated (PSEG), a diversified energy company based in New Jersey. Holding this role, he is responsible for overseeing the company's financial operations, which includes financial planning, budgeting, investor relations, and risk management. Cregg joined PSEG in 1991 and has held various executive positions within the company, gaining a wealth of experience in areas such as finance, operational efficiency, and strategic planning. His deep understanding of the energy sector and the financial challenges it faces has been instrumental in guiding PSEG's financial strategy and contributing to its overall success. Under Cregg's leadership as CFO, PSEG has focused on maintaining financial discipline, optimizing capital allocation, and ensuring long-term financial stability, while also pursuing growth opportunities within the energy industry. His expertise has been crucial in steering PSEG through market changes and regulatory developments.
Cregg joined PSEG in 1991 and has held various executive positions within the company, gaining a wealth of experience in areas such as finance, operational efficiency, and strategic planning. His deep understanding of the energy sector and the financial challenges it faces has been instrumental in guiding PSEG's financial strategy and contributing to its overall success.
Under Cregg's leadership as CFO, PSEG has focused on maintaining financial discipline, optimizing capital allocation, and ensuring long-term financial stability, while also pursuing growth opportunities within the energy industry. His expertise has been crucial in steering PSEG through market changes and regulatory developments.
Tamara Louise Linde, Esq. is a notable legal and corporate figure, primarily recognized for her role as an executive at Public Service Enterprise Group Inc. (PSEG), a publicly traded diversified energy company. Linde has served as the Executive Vice President and General Counsel at PSEG, where she has been responsible for overseeing the company’s legal affairs, including litigation, regulatory compliance, and corporate governance. Her extensive legal background includes a keen focus on energy law, having worked on various regulatory and compliance matters critical to PSEG operations. She joined the company in 1991 and has since held several key leadership positions, demonstrating her expertise and commitment to the organization. Linde played a significant role in shaping PSEG's legal and regulatory strategies, providing counsel on complex legal issues, and contributing to the company’s overall business strategy. Linde's professional approach is characterized by her deep understanding of the energy industry and her ability to navigate the complex legal landscape of utilities and energy production. Her leadership skills and legal acumen have earned her respect within the company and the broader legal and corporate community.
Her extensive legal background includes a keen focus on energy law, having worked on various regulatory and compliance matters critical to PSEG operations. She joined the company in 1991 and has since held several key leadership positions, demonstrating her expertise and commitment to the organization. Linde played a significant role in shaping PSEG's legal and regulatory strategies, providing counsel on complex legal issues, and contributing to the company’s overall business strategy.
Linde's professional approach is characterized by her deep understanding of the energy industry and her ability to navigate the complex legal landscape of utilities and energy production. Her leadership skills and legal acumen have earned her respect within the company and the broader legal and corporate community.
Ms. Kim C. Hanemann is a notable leader in the energy sector, particularly known for her role at Public Service Enterprise Group Incorporated (PSEG). She serves as the President and Chief Operating Officer of PSEG Power, a subsidiary responsible for the utility’s generation operations. She has a robust background in engineering and operations, which has been instrumental in driving efficiencies and improvements across the company’s power production portfolio. With significant experience in project management and operational roles, Ms. Hanemann previously held various leadership positions within PSEG, contributing to numerous major infrastructure and technology projects. Her expertise includes managing complex projects and fostering innovation in the energy industry. Under her leadership, PSEG has continued to advance its clean energy initiatives and maintain high standards for operational excellence. Ms. Hanemann holds a strong commitment to sustainability and clean energy transitions, advocating for policies and practices that support environmental responsibility and economic growth. Her strategic vision and leadership skills have established her as a key figure in the energy business, driving PSEG’s mission to provide safe, reliable, economic, and greener energy solutions.
With significant experience in project management and operational roles, Ms. Hanemann previously held various leadership positions within PSEG, contributing to numerous major infrastructure and technology projects. Her expertise includes managing complex projects and fostering innovation in the energy industry. Under her leadership, PSEG has continued to advance its clean energy initiatives and maintain high standards for operational excellence.
Ms. Hanemann holds a strong commitment to sustainability and clean energy transitions, advocating for policies and practices that support environmental responsibility and economic growth. Her strategic vision and leadership skills have established her as a key figure in the energy business, driving PSEG’s mission to provide safe, reliable, economic, and greener energy solutions.
As of the latest available information, Zeeshan Sheikh serves as the Senior Vice President and Chief Information and Digital Officer (CIDO) at Public Service Enterprise Group Inc. (PSEG). In this role, he is responsible for leading the information technology strategy and operations, including cybersecurity, and digital transformation initiatives at the company. His work supports PSEG’s focus on enhancing customer experiences and improving operational efficiencies. Before joining PSEG, Zeeshan Sheikh held various senior leadership positions in information technology and digital roles. His extensive experience spans across different industries, including utilities and energy, where he has driven significant digital and technological advancements. Sheikh is well-regarded for his strategic vision and ability to leverage technology to deliver business value. He holds an educational background pertinent to his expertise in technology and leadership, although specific details about his academic qualifications might not be publicly disclosed. Sheikh’s professional trajectory highlights his commitment to innovation and leadership in the evolving landscape of IT and digital solutions.
Before joining PSEG, Zeeshan Sheikh held various senior leadership positions in information technology and digital roles. His extensive experience spans across different industries, including utilities and energy, where he has driven significant digital and technological advancements. Sheikh is well-regarded for his strategic vision and ability to leverage technology to deliver business value.
He holds an educational background pertinent to his expertise in technology and leadership, although specific details about his academic qualifications might not be publicly disclosed. Sheikh’s professional trajectory highlights his commitment to innovation and leadership in the evolving landscape of IT and digital solutions.
Courtney McCormick is a notable executive at Public Service Enterprise Group Incorporated (PSEG), where she serves as the Senior Vice President and Chief Financial Officer (CFO). In her role, she is responsible for overseeing the company's financial operations, including accounting, budgeting, financial planning, and analysis. With a strong background in finance, McCormick has played a crucial part in shaping PSEG’s financial strategy and ensuring the company's fiscal health. Before becoming the CFO, McCormick held various leadership positions within PSEG, contributing to the company's growth and operational effectiveness. Her extensive experience in the energy industry and financial management has provided her with a deep understanding of the market, regulatory environments, and the financial levers critical to the organization's success. Ms. McCormick is known for her strategic leadership and her ability to navigate complex financial landscapes. She is also recognized for her commitment to promoting sustainable energy practices within the company, aligning financial decisions with broader environmental and corporate goals. Her leadership extends beyond her financial acumen; she is active in mentoring and supporting diversity and inclusion initiatives within PSEG, reflecting her dedication to creating a robust and supportive workplace culture.
Before becoming the CFO, McCormick held various leadership positions within PSEG, contributing to the company's growth and operational effectiveness. Her extensive experience in the energy industry and financial management has provided her with a deep understanding of the market, regulatory environments, and the financial levers critical to the organization's success.
Ms. McCormick is known for her strategic leadership and her ability to navigate complex financial landscapes. She is also recognized for her commitment to promoting sustainable energy practices within the company, aligning financial decisions with broader environmental and corporate goals.
Her leadership extends beyond her financial acumen; she is active in mentoring and supporting diversity and inclusion initiatives within PSEG, reflecting her dedication to creating a robust and supportive workplace culture.
Karen Cleeve is the Vice President of Communications at Public Service Enterprise Group Inc. (PSEG). In her role, she is responsible for overseeing the company’s strategic communications initiatives, including media relations, employee communications, and branding efforts. With a focus on enhancing PSEG’s reputation and visibility, she leads efforts to effectively communicate the company’s mission, values, and objectives to both internal and external stakeholders. Cleeve has a strong background in corporate communications and has held various leadership positions within the organization, bringing extensive experience in managing communication strategies in the utility sector. Her work supports PSEG’s commitment to delivering safe, reliable, and sustainable energy to its customers.
Sheila J. Rostiac is a prominent executive at Public Service Enterprise Group Inc. (PSEG), where she has made significant contributions through her leadership roles. She serves as the Chief Human Resources Officer and is responsible for overseeing the company's human resources strategy, focusing on talent management, diversity and inclusion, and organizational development. Rostiac has played a crucial role in shaping the work culture at PSEG, aiming to foster an environment that supports employee engagement and growth. Her efforts are instrumental in aligning human resources with the company's strategic objectives, ensuring that PSEG continues to be an employer of choice within the energy sector. Rostiac's leadership and dedication have been vital in navigating workforce challenges and implementing initiatives that promote a dynamic and innovative company culture.
Richard T. Thigpen is a prominent executive associated with Public Service Enterprise Group Inc. (PSEG), where he serves as the Senior Vice President of Corporate Citizenship and the Chairman of the PSEG Foundation. In his role, Thigpen oversees the company’s contributions in the realm of corporate responsibility, including philanthropy and sustainability initiatives. Under his leadership, PSEG's efforts have been aimed at enhancing social equity, supporting educational programs, and fostering community development. Thigpen holds a strong background in governmental affairs and public policy, making him well-suited for his work in corporate citizenship. He has been instrumental in aligning PSEG's corporate goals with community needs and environmental stewardship. Prior to joining PSEG, Thigpen gained valuable experience in policy-making and governance, which he has applied to his work in the private sector. His career reflects a commitment to both corporate responsibility and public service, illustrating the blend of business acumen and civic-mindedness he brings to his position.
Thigpen holds a strong background in governmental affairs and public policy, making him well-suited for his work in corporate citizenship. He has been instrumental in aligning PSEG's corporate goals with community needs and environmental stewardship. Prior to joining PSEG, Thigpen gained valuable experience in policy-making and governance, which he has applied to his work in the private sector. His career reflects a commitment to both corporate responsibility and public service, illustrating the blend of business acumen and civic-mindedness he brings to his position.
