PSEG Reports $16.3 Billion Economic Contribution to New Jersey

The report highlights a $12.8 million philanthropic commitment alongside a $2.4 billion spend with local suppliers and vendors throughout the year. Beyond direct economic stimulation, the company maintains a robust capital investment program, with plans to allocate between $22.5 billion and $25.5 billion toward critical infrastructure upgrades by 2030 to bolster grid reliability.

Energy efficiency remains a cornerstone of the utility's consumer-facing strategy, with programs that have helped customers reduce annual costs by more than $1 billion. Furthermore, the company’s nuclear operations continue to serve as a primary power source for the state, generating 40% of New Jersey’s electricity and contributing roughly $1.2 billion to the annual state GDP. Senior Vice President Rick Thigpen noted that these initiatives reflect the company’s core purpose of promoting statewide prosperity and long-term energy stability.