Public Service Enterprise Group Inc

Public Service Enterprise Group (PSEG), through its PSEG Nuclear subsidiary, operates the 2,371-MW Salem Nuclear Power Plant (two units) and 1,173-MW Hope Creek Nuclear Generating Station in New Jersey, supplying about half of the state's carbon-free electricity. As a major East Coast utility, PSEG plays a pivotal role in the nuclear renaissance by delivering reliable baseload power amid surging demand from data centers and electrification, bolstered by New Jersey's Zero Emission Credits that value its output at around $50/MWh through 2025.

In the past year, PSEG achieved record nuclear generation of over 18 million MWh in 2023, extended Hope Creek's license to 2046, and advanced plans to retire fossil plants by 2030 while investing $2.5 billion in grid upgrades via PSE&G. Key risks include regulatory shifts in New Jersey's clean energy mandates, potential delays in federal nuclear incentives like the IRA's production tax credit, vulnerability to refueling outages, and competition from cheaper renewables eroding ZEC support post-2025.

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