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Public Service Enterprise Group Headquarters: Newark Web Site: www.pseg.com Twitter: @PSEG Facebook: PSEG Linked in: PSEG Financial reports Press releases Employment Ralph Izzo, Ph. D. Chairman & CEO Public Service initially founded 1903 after series of trolley accidents raised concern over safety of operations of small transportation companies, organizing group led by Thomas N. McCarter, then General Counsel of Fidelity Union Trust Company and son of founder of McCarter & English law firm, conceived plan to create Public Service Corporation by combining more than 500 gas, electric and transportation companies in NJ, with McCarter named first president, held position until 1939> By 1930s Public Service owned more than 100 utility subsidiaries throughout Eastern, Central and Southern US, consolidated its gas and electric interests into Public Service Electric & Gas Co., and its transportation interests into Public Service Coordinated Transport (later Transport of New Jersey), subsequently divested out-of-state utility holdings, and in 1943 again became stand-alone company, renamed Public Service Electric and Gas Company in 1948> In 1928, Public Service Railway Company and Public Service Transportation Company merged to form Public Service Coordinated Transport, which dominated trolley, and later bus, travel, Public Service engineers designed first diesel-electric bus, and in 1937 operated first diesel-electric bus fleet in world> PSE&G sold transportation system to State of NJ 1980, bus operations formed initial base of services provided by newly-created state authority, NJ Transit> Parent holding company Public Service Enterprise Group created in 1985, current structure adopted following NJ enactment of legislation allowing operation in deregulated markets> Largest provider of NJ electric and gas service through subsidiary Public Service Electric and Gas Company, serves nearly three quarters of NJ population in service area of 2,600-square-mile diagonal corridor across state from Bergen to Gloucester Counties with 1.8 million gas customers and 2.2 million electric customers in more than 300 communities, including NJ's six largest cities, owns and operates power plants with approximately 12,000 megawatts of generating capacity located primarily in Mid-Atlantic and Northeast regions and solar energy facilities throughout US> Also established PSEG Long Island, operates electric transmission and distribution system of Long Island Power Authority, with 1.1 million customers, former operations of Long Island Lighting Co.> 2016 revenues $9.1 billion, approximately 13,100 employees> Subsidiary PSEG Power unregulated wholesale electric generation and trading company operating in northeastern US with four main subsidiaries: PSEG Fossil, PSEG Nuclear, PSEG Energy Resources & Trade and PSEG Power Ventures> Other major NJ locations in Parsippany and Edison> Ralph Izzo named CEO 2007, joined company 1992, began career as research scientist at Princeton Plasma Physics Laboratory, former senior policy advisor to Governor Thomas H. Kean, holds Ph.D. in physics from Columbia and MBA from Rutgers, sits on boards of NJ Chamber of Commerce and The Peddie School, former chair of Rutgers Board of Governors. * Advance * Automatic Data Processing * Becton Dickinson
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