PSEG Remains Committed to PennEast as a Customer

Thursday, March 9, 2017 7:30 am EST

Dateline:

Newark, NJ
"We look forward to being a PennEast customer. We’ve decided to put our focus on our core business – constructing three new combined cycle power plants and running our diverse fleet of generation plants."
(March 9, 2017 – Newark, NJ) – Public Service Enterprise Group Inc. (NYSE: PEG) today announced that it is exploring a sale of its minority equity position in the PennEast interstate natural gas pipeline project (PennEast). Any such sale would be subject to approval by the PennEast Board.

Bill Levis, president of PSEG Power, emphasized that PSEG will remain a PennEast customer for its committed capacity.

“This project will provide PSE&G customers with greater and more reliable access to affordable natural gas,” he said. “We look forward to being a PennEast customer. We’ve decided to put our focus on our core business – constructing three new combined cycle power plants and running our diverse fleet of generation plants.”

Public Service Enterprise Group
Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of $9.1 billion. Its operating subsidiaries are: Public Service Electric and Gas Company (PSE&G), PSEG Power, and PSEG Long Island.

Forward-Looking Statements
The statements contained in this communication about our and our subsidiaries’ future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences and all other statements that are not purely historical, are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on management’s beliefs as well as assumptions made by and information currently available to management. When used herein, the words “anticipate,” “intend,” “estimate,” “believe,” “expect,” “plan,” “should,” “hypothetical,” “potential,” “forecast,” “project,” variations of such words and similar expressions are intended to identify forward-looking statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Other factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are discussed in our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission (SEC), and available on our website: http://investor.pseg.com/sec-filings. All of the forward-looking statements made in this communication are qualified by these cautionary statements and we cannot assure you that the results or developments anticipated by management will be realized or even if realized, will have the expected consequences to, or effects on, us or our business, prospects, financial condition, results of operations or cash flows. Readers are cautioned not to place undue reliance on these forward-looking statements in making any investment decision. Forward-looking statements made in this communication apply only as of the date hereof. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even in light of new information or future events, unless otherwise required by applicable securities laws.

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Contact:

Kathleen A. Lally, Vice President – Investor Relations
Phone: 973-430-6565
or
Carlotta Chan, Manager – Investor Relations
Phone: 973-430-6596