Public Service Enterprise Subsidiary Proposes $3.9 Bln Investment to Strengthen NJ Electric and Gas Systems - PEG

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Public Service Electric and Gas Company (PSE&G), subsidiary of Public Service Enterprise Group Inc. ( PEG ) has proposed to invest $3.9 billion during the next 10 years to "proactively protect and strengthen" its electric and gas systems against adverse weather conditions. In a filing with the New Jersey Board of Public Utilities, PSE&G asked for initial funding approval of $2.6 billion during the first five years. Since some of the improvements will take more than five years to implement, the utility may seek approval to spend an additional $1.3 billion in the following five years to complete the program.

PEG is up 0.2% at $31.46 in a 52-week range of $28.92 - $34.07.

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This article appears in: Investing , Commodities

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