Federal Government Cites NJ Energy Company for Surpassing Voluntary Carbon Emissions Reduction Goal NEWARK, N.J., July 23 /PRNewswire-FirstCall/ -- The federal government has announced that Public Service Enterprise Group (PSEG) achieved the carbon emissions reduction goal set in 2002 as part of its participation in the U.S. Environmental Protection Agency's (EPA) Climate Leaders Program. PSEG voluntarily pledged to reduce its U.S. greenhouse gas emissions intensity by 18% from 2000 levels by the year 2008. The company surpassed its goal by achieving a 31% reduction. "We congratulate the members of the partnership upon meeting their goals to confront climate change. EPA's Climate Leaders are some of the largest and most competitive companies in manufacturing, finance, information technology and other major sectors of the economy," said EPA Administrator Lisa P. Jackson. "They're proving that they can be both industry leaders, and leaders in the fight against climate change." PSEG reduced its carbon intensity by expanding nuclear output and building new, clean natural gas plants. The reduction is also a result of a drop in coal output from 2007 to 2008. Nuclear plants emit no carbon, and natural gas combined-cycle plants emit significantly less carbon than coal plants. PSEG did not purchase renewable energy credits (RECs) or greenhouse gas offsets to help meet the target. "We've met and exceeded a number of carbon reduction goals over the last 15 years, and in the process, become one of the nation's leading low-carbon energy companies," said Eric Svenson, PSEG's vice president of environment, health and safety. "The EPA deserves a great deal of credit for establishing a framework that provides guidance and recognition for companies committed to addressing climate change. This allowed early action absent federal regulation," Svenson said. "Now it's time to take the next step." PSEG has been vocal about the need for Congress to pass a cap-and-trade bill that puts an economy-wide price on carbon and gives business leaders the certainty they need to make investments that combat climate change and fuel economic growth. New Jersey has been at the forefront, helping to develop the Regional Greenhouse Gas Initiative (RGGI, which is a regional effort to reduce carbon emissions), and setting aggressive goals to limit greenhouse gases, promote conservation and expand access to renewable energy. A comprehensive climate change bill would level the playing field by ensuring that the price of carbon is included in business transactions in every state in the nation. PSEG is engaged in several initiatives to further reduce its carbon footprint, including bringing $237 million worth of energy efficiency to New Jersey homes and businesses, offering $105 million in loans for solar installations, pursuing the development of a 350-megawatt offshore wind farm, launching a compressed air energy storage business, and exploring the possibility of a new nuclear plant. The company is greening its fleet by investing in hybrid vehicles and bucket truck prototypes, electric drives and alternative fuels. It is also investing in more efficient wires for new overhead installations, installing more efficient transformers atop utility poles, and expediting the replacement of aging transformer banks with state-of-the-art units in electrical substations. PSEG has been pursuing a low-carbon business strategy since 1993, when it became the first electric company to join the U.S. Department of Energy's Climate Challenge Program and voluntarily stabilized CO2 emissions from its New Jersey plants at 1990 levels by the year 2000. The company has voluntarily reported its U.S. Greenhouse Gas Emissions Inventory to the EPA each year since joining Climate Leaders as a charter member in February 2002. Climate Leaders is an EPA industry-government partnership that provides guidance and recognition to companies developing long-term climate change strategies. Partner companies commit to reducing their impact on the global environment by completing a corporate-wide inventory of their greenhouse (GHG) gas emissions, setting long-term reduction goals, and annually reporting their progress to EPA. Through program participation, companies create a credible record of their accomplishments and receive EPA recognition as corporate environmental leaders. 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. Building on its long standing leadership in environmental reporting and transparency, PSEG recently released its 2009 Sustainability Report. The report highlights PSEG's commitment to social, economic and environmental responsibility, underscores accomplishments in the sustainability arena and discusses challenges the company faces in its quest to be a leader in providing safe, reliable, economic and green energy. It is available online at http://www.pseg.com/sustainability. Want to know what's new at PSEG? Go to http://www.pseg.com/getnews and sign up to have our press releases and weekly environmental commentaries sent right to your inbox. DATASOURCE: Public Service Enterprise Group (PSEG) CONTACT: Jenn Kramer, +1-973-430-6027 Web Site: http://www.pseg.com/

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