PSEG Will Be Charter Member of U.S. EPA's Climate Leader Partnership

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PSEG Will Be Charter Member of U.S. EPA's Climate Leader Partnership

NEW JERSEY, NEWARK, Feb. 20 -/E-Wire/-- Public Service Enterprise Group Incorporated (PSEG) will be a charter member of the U.S. Environmental Protection Agency's Climate Leader Partnership, a greenhouse gas emissions control initiative being announced at 1 p.m. today by EPA Administrator Christie Whitman.

PSEG, an energy holding company based in Newark, NJ, will join 10 other companies from the energy, automotive consumer products and other industries,as the first members of the partnership, which is an outgrowth of the "Clear Skies" initiative announced by President Bush last week. As a charter member, PSEG will conduct a corporate-wide inventory of greenhouse gas emissions using a World Resources Institute protocol it helped develop; report emissions to EPA on an annual basis; and work with the agency to develop aggressive emissions reductions goals.

PSEG Chairman and Chief Executive Officer E. James Ferland said the company "is pleased to be a part of this initial leadership group. Last week, the President called for industry to step forward with ways to make positive contributions on a difficult public policy question. We look forward to this opportunity and to working with the Bush Administration and EPA Administrator Whitman on developing tools and techniques for effective action on climate change."

Ferland noted that PSEG was the first company in the nation to sign up for the 1993 Climate Change Challenge under which it set and achieved a goal of stabilizing greenhouse gas emissions at 1990 levels by the year 2000. The company also worked with the World Resources Institute and its World Business Council on Sustainable Development to establish a system of uniform accounting protocols on which to base greenhouse gas inventories and measure the effectiveness of emissions reduction programs and methods.

"Most recently," he said, "PSEG Fossil, a subsidiary of PSEG's unregulated U.S. generation company, entered into a voluntary agreement with the NJ Department of Environmental Protection that calls for a 15% reduction from a 1990 baseline in the carbon dioxide emissions rate at its NJ-based fossil-fueled power plants over the next five years. We plan to achieve our target through investment in new, clean combined-cycle technology and the retirement of older, less efficient generating capacity."

PSEG was represented at the ceremony announcing the partnership by Harry Keiser, president of PSEG Nuclear and the company's chief nuclear officer. PSEG Nuclear owns more than 3,000 megawatts of nuclear generating capacity and is an indirect subsidiary of PSEG.

PSEG is a diversified energy company based in Newark, NJ (NYSE:PEG) with assets of more than $25 billion and annual revenues of nearly $10 billion. Among its subsidiaries are:

---PSEG Power, an unregulated independent power provider in the U.S. with approximately 11,500 megawatts (MW) of generating capacity in operation and more than 3,500 MW under construction;

---Public Service Electric and Gas Company (PSE&G;), New Jersey's largest andoldest regulated electric and gas utility with more than 3.5 million customers;

---PSEG Global, owner and operator of electric generation and distribution facilities in the U.S. and international markets, with more than 8,000 MW in operation, construction, or advanced development. PSEG Global also delivers electricity to more than 3.6 million customers in South America.

More information about PSEG is available on its website http://www.pseg.com

Public Service Enterprise Group Incorporated

Neil Brown, 1-(973) 430-6017

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