Being a recognized leader for people providing safe, reliable,
economic and green energy
2007-2008 Results
2009 Goals
People
Community
With the largest single charitable contribution in our company’s history, $5 million, supported
the opening of the PSE&G Specialized Children’s Hospital
Maintained position as top utility fundraiser for March of Dimes
Attracted 3,411 jobs and $77.5 million in annual distribution revenue to communities in our
service territory
Increased spending with diverse suppliers by 2.75 percent or $50.5 million from 2007 to
2008
Developed partnership with Salem Community College to develop new Nuclear Energy Technology
program.
Customers
Initiated development of new customer information system
Supported expansion of Low Income Home Energy Assistance program
Improved service to builders and developers through new website which allows on-line
application for new service
Rolled out first phase of an on-line outage information center
Launched Speakers Program for enhanced community outreach
Expanded Customer Service Center outreach efforts and partnerships with nonprofits
Workforce
Assessed ethics, engagement and culture with annual employee survey and benchmarking
Expanded pipeline program for prospective employees to nuclear and green jobs in both college
and high school environments
Conducted training in Standards of Integrity, compliance, diversity and sexual harassment; ran
Supervisor and Leadership Academies
Updated and re-published Human Resources policies, practices and procedures to ensure alignment
with best in class companies
Created Employee Central, on-line repository for benefits, career development, work-life
solutions and Human Resources information
Developed workforce planning model to identify future gaps and plan for knowledge transfer and
replacements
Community
Increase utilization of VolunteerMatch volunteer management system by 25 percent
Increase funding of environmentally-oriented community groups by 10 percent
Investigate external benchmarking of philanthropy program effectiveness
Develop method to assess impact of contributions
Continue leadership as top utility fundraiser for March of Dimes
Attract 1,200 jobs and $2.5 million in annual distribution revenue to communities in our
service territory
Increase emphasis on workforce development by supporting community-based job skills training
programs
Increase spending with diverse suppliers by 12 percent
Launch new Nuclear Energy Technology program with Salem Community College and provide
internships to students at Nuclear facilities
Customers
Rollout new customer information system to improve customer self-service
Refine on-line outage information to offer more localized information
Increase paperless billing to 2.5 percent of all customer bills
Increase Web transactions to 3 percent of all inbound customer inquiry contacts
Workforce
Conduct corporate-wide training in ethics to raise score 11 percent over 2008
Conduct diversity training for one-third of the workforce
Preserve jobs through cost containment
Achieve 92 percent development plan completion rate
Drive understanding of corporate vision and sustainability throughout organization
Develop knowledge transfer and retention mechanisms
Develop and implement on-line, comprehensive on-boarding process for new employees
Safe
Occupational Safety and Health Agency Recordable Incident Rate
2007 – 1.46 (top quartile performance)
2008 – 1.42 (top quartile performance)
OSHA Lost Time Days Rate (Severity)
2007 – 18.96
2008 – 8.00 (top quartile performance)
Established integrated preparedness programs for influenza pandemic and data breach
2008 NJ Governor's Occupational Health and Safety Continued Excellence Award
In three of the last four years, PSE&G was named the most reliable electric utility in the
nation, and for seven consecutive years, the most reliable in the Mid-Atlantic region, by PA
Consulting
Nuclear generating facilities achieved capacity factor of approximately 92 percent
Fossil generating units produced a record amount of electricity in 2007
Hope Creek Nuclear Generating Station was the highest performing nuclear unit in the nation,
with a capacity factor of 100 percent, and set a station record for consecutive days on-line
Hope Creek Nuclear Generating Station achieved top quartile for equipment reliability
Salem Nuclear Generating Station Unit 2 had the second fastest steam-generator replacement in
the history of electric industry
Received contract for 130 megawatts of new peaking capacity from our New Haven Harbor
generating station
Nuclear facilities successfully transitioned to independent operations
Licenses at Peach Bottom Nuclear Generating Stations Units 2 and 3 were renewed through 2033
and 2034, respectively
Proceed with approvals and construction of 500,000-volt Susquehanna-Roseland transmission
line
Present plan to invest $700 million in infrastructure projects, including street light upgrades
and replacement of older equipment
Proceed with construction of additional New Haven Harbor generation capacity
File license renewals for Salem Generating Stations Units 1 and 2 and Hope Creek Nuclear
Generating Station
Pursue new nuclear generating capacity by preparing an Early Site Permit application for a new
nuclear unit at our Salem-Hope Creek site
Manage geographic and single location generation risks by positioning company for opportunities
to broaden type and location of generating facilities
Economic
Two for one stock split in 2008
Reduced international risk and exposure by selling over $1.5 billion in international
assets
Reduced debt by $1.3 billion
Have paid dividends for 102 consecutive years and increased dividends for six consecutive
years.
Operating earnings achieved guidance range, $2.72 for 2007 and $2.92 for 2008
Achieved payout ratios of 43 and 44 percent, respectively
Improve performance of nuclear from second quartile to first quartile
Improve performance of fossil plants from third quartile to first quartile
Work with stakeholder to establish a regulatory framework for utilities by eliminating lag in
earnings returns and disincentives for utilities to encourage conservation
Achieve earnings guidance of $3.00-$3.25
Achieve a payout ratio of 41-44 percent
Green Energy
Surpassed our voluntary 2000 Climate Leaders Program of an 18 percent reduction by reducing our
2000 greenhouse gas emission rate from fossil generation by 31 percent by 2008
Named to the 2008 Carbon Disclosure Leadership Index
Named to the 2008 Dow Jones Sustainability Index – North America
Received regulatory approval of $46 million Carbon Abatement program for household energy
audits and energy-saving steps for homes, businesses and hospitals
As a joint venture partner in Garden State Offshore Energy, received a $4 million grant to
study off-shore wind, a first step in a proposal to develop a $350 million offshore wind farm
Entered into a joint venture to license and develop compressed air energy storage
technology
Completed second phase of installing more than $1 billion in advanced emissions control
equipment at coal units
Hope Creek Nuclear Generating Station completed a successful extended power uprate to generate
an additional 150 MW of clean energy
Salem Nuclear Generating Station’s steam generator replacement project allows Unit 2 to
generate an additional 23 MW of clean energy
Introduced environmental scorecard measures at the line-of-business level
Establish a new corporate carbon emissions goal
Implement $46 million Carbon Abatement program of household energy audits and energy-saving
steps for homes, businesses and hospitals
Propose $190 million investment to improve customer access to conservation
Propose $773 million solar investment to mount solar panels on 200,000 utility poles, and on
rooftops of schools, municipal buildings and other facilities, providing 120 MW of carbon-free
electricity
Pursue wind farm and compress air energy storage ventures
Develop business model to address climate change
Implement Fossil Environmental Information Management System
Complete final phase installing advanced emission controls at coal units
Achieve facilities energy conservation target of 15 percent by 2014
