Who is PSEG Power?
As a result of deregulation Public Service Electric and Gas restructured as a company. PSEG Power became a major unregulated independent power producer in the U.S. Public Service Electric and Gas (PSE&G) remains a New Jersey regulated, investor owned electric and gas distribution company. Both companies are wholly-owned subsidiaries of the Public Service Enterprise Group which has over $28 billion dollars in assets PSEG Power has been the companys profit driver for many years. Recently the company reported annual operating earnings of approximately $1.2 billion. PSEG Power is PSE&Gs largest gas customer, accounting for approximately 30% of the total amount of gas it distributes. PSEG Power uses the gas it buys from PSE&G to generate electricity at its gas fired generating plants. How is the SBC Charge Calculated? The SBC is a per kwh/therm charge that, according to the Board of Public Utilities, (BPU), is approximately 3% of a customers energy bill. The charge is calculated by determin
