Latest news with #PSE&G
Yahoo
23-05-2025
- Business
- Yahoo
PSE&G gets $80M deal to run Long Island power grid after official, wife's secret stocks sink bidding process
A years-long search to replace PSE&G as the manager of Long Island's power grid ended in shock fashion Thursday as officials gifted the company an $80 million-a-year extension. The Long Island Power Authority OK'd the new deal and scrapped a competitive bidding process after authority member John Rhodes and his wife were found to have financial ties to Quanta Services, the company lined up to replace PSE&G. LIPA CEO John Rhodes and his wife owned up to $120,000 in company stocks with his wife through December 2024 — months after he helped form the selection committee and Texas-based Quanta was recommended as the new manager. Rhodes pushed Quanta, one of only two finalists alongside PSE&G, saying the company offered better safety metrics and slightly higher customer satisfaction scores. But LIPA's board members were skeptical. Critics pointed to Quanta's management of Puerto Rico's electric grid, which has faced rolling blackouts and a government audit. The LIPA board found out about the undisclosed stocks during an April review of the recommendation and rejected the bid in a 6-1 vote. Rhodes had dumped the stocks four months prior. 'John Rhodes does not own stock in Quanta Services, Inc. Previously, he did own stock in Quanta Services, Inc., having purchased shares in 2021, and sold immediately upon becoming aware of those holdings in December of 2024, prior to LIPA staff's recommendation of Quanta Services, Inc., for selection by the LIPA board,' LIPA spokesperson Jen Hayen told Long Island Business News. On Thursday, the board voted to scrap the selection process altogether and just extend PSEG's $80 million-a-year contract, which was set to expire at the end of 2025. The length of the extension hasn't been finalized, although the current deal includes an option for up to five more years. PSE&G has run Long Island's power grid since 2014, though its performance has faced scrutiny — especially after Tropical Storm Isaias in 2020 left hundreds of thousands of residents in the dark for days. That led to a restructured agreement in 2021 that tied $40 million of PSE&G's compensation to performance benchmarks, including reliability, storm response, and customer satisfaction. 'We are extremely disappointed by the LIPA Board's decision and the fact that Quanta was never given the opportunity to address any questions or concerns that any of the LIPA Trustees had raised,' a Quanta spokesperson told The Post. 'We hope the reported investigation into this decision sheds light on the procurement process as we can agree that LIPA's 1.2 million customers deserve the best service provider.'
New York Post
22-05-2025
- Business
- New York Post
PSE&G gets $80M deal to run Long Island power grid after official, wife's secret stocks sink bidding process
A years-long search to replace PSE&G as the manager of Long Island's power grid ended in shock fashion Thursday as officials gifted the company an $80 million-a-year extension. The Long Island Power Authority OK'd the new deal and scrapped a competitive bidding process after authority member John Rhodes and his wife were found to have financial ties to Quanta Services, the company lined up to replace PSE&G. LIPA CEO John Rhodes and his wife owned up to $120,000 in company stocks with his wife through December 2024 — months after he helped form the selection committee and Texas-based Quanta was recommended as the new manager. 3 A general view of a PSE&G sign in Paterson, NJ as seen on June 4, 2020. Christopher Sadowski Rhodes pushed Quanta, one of only two finalists alongside PSE&G, saying the company offered better safety metrics and slightly higher customer satisfaction scores. But LIPA's board members were skeptical. Critics pointed to Quanta's management of Puerto Rico's electric grid, which has faced rolling blackouts and a government audit. The LIPA board found out about the undisclosed stocks during an April review of the recommendation and rejected the bid in a 6-1 vote. Rhodes had dumped the stocks four months prior. 3 An electrical crew member contracted by LIPA works on overhead lines on Old Country Road on November 19, 2012 in Melville, New York. Getty Images 'John Rhodes does not own stock in Quanta Services, Inc. Previously, he did own stock in Quanta Services, Inc., having purchased shares in 2021, and sold immediately upon becoming aware of those holdings in December of 2024, prior to LIPA staff's recommendation of Quanta Services, Inc., for selection by the LIPA board,' LIPA spokesperson Jen Hayen told Long Island Business News. On Thursday, the board voted to scrap the selection process altogether and just extend PSEG's $80 million-a-year contract, which was set to expire at the end of 2025. The length of the extension hasn't been finalized, although the current deal includes an option for up to five more years. 3 PSEG workers at the scene where a Cessna 172 airplane crashed into a church and power lines, but all three passengers survived on April 15, 2019. Stephen Yang PSE&G has run Long Island's power grid since 2014, though its performance has faced scrutiny — especially after Tropical Storm Isaias in 2020 left hundreds of thousands of residents in the dark for days. That led to a restructured agreement in 2021 that tied $40 million of PSE&G's compensation to performance benchmarks, including reliability, storm response, and customer satisfaction.
Yahoo
22-05-2025
- Business
- Yahoo
Ciel Power LLC Named a 2025 Top 10 Energy Efficiency Contractor by PSE&G
KEARNY, N.J., May 22, 2025 /PRNewswire/ -- Ciel Power LLC, a leading New Jersey-based residential energy efficiency contractor, has once again been named a Top 10 Contractor in PSE&G's 2024 Whole Home Energy Solutions Program. This award highlights Ciel Power's ongoing leadership in delivering high-impact, energy-efficient home upgrades that improve comfort, cut utility costs, and reduce environmental impact across the state. Krystal Soto-Perez, Manager at Ciel Power LLC, accepted the PSE&G Trade Ally Top 10 Contractor Award on behalf of the company at a ceremony held on Monday, May 5th. "We're incredibly honored to be recognized once again by PSE&G," said Scott Fischer, Managing Member of Ciel Power LLC. "This award is a tribute to our dedicated team and their daily commitment to helping New Jersey families live more sustainably and comfortably. We're especially thankful for our long-standing partnerships with PSE&G, ICF, Honeywell, municipal leaders, and our amazing customers who support our mission." Ciel Power is a Participating Contractor in PSE&G's Whole Home Energy Solutions Program, offering a full suite of building science-based residential services. These include diagnostic home energy assessments, insulation and air sealing, high-efficiency heating and cooling upgrades, and indoor air quality improvements. These upgrades are designed to reduce household energy waste, enhance year-round comfort, and qualify homeowners for generous utility rebates and federal tax incentives. A multi-year recipient of the ENERGY STAR® Contractor of the Year and Sustained Excellence Awards, Ciel Power is consistently ranked among the top 1% of home performance contractors nationwide. The company's deep expertise, community partnerships, and results-driven approach continue to set the standard for residential energy efficiency in New Jersey. About Ciel Power LLC Founded in 2010, Ciel Power LLC is a mission-driven residential energy efficiency contractor based in Kearny, New Jersey. The company serves homeowners statewide with personalized solutions that improve home performance and reduce environmental impact. As a trusted delivery partner for utility and municipal programs, Ciel Power offers expert diagnostics, retrofit installation, and educational outreach that help customers make informed, cost-effective improvements to their homes. Recognized nationally for excellence, Ciel Power combines innovation, transparency, and customer care to drive a cleaner, more efficient energy future—one home at a time. Media Contact: Krystal Soto-Perez Manager Ciel Power LLC 395607@ (201) 632-3463 View original content to download multimedia: SOURCE Ciel Power LLC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
21-05-2025
- Business
- Associated Press
Powering the Clean Energy Workforce: Carolina's Story
PSEG ENERGIZE! Growing up in the heart of Hudson County, New Jersey, Carolina Ramos always felt a connection to her community and a desire to make a difference. Her path led her from college studies to hands-on experience in local government and, ultimately, to a career in the growing energy sector. But what stands out most in her story is how she turned her passion into opportunity – and how others can do the same. A personal mission to create change After studying environmental sciences at Rutgers University, Carolina joined the AmeriCorps VISTA program in Jersey City, where she worked on recycling initiatives before transitioning to the city's sustainability department. [CEJ] helped me figure out exactly what kind of work I was looking for.'– Carolina Ramos, Clean Energy Jobs program graduate 'That's where I did what I really loved, giving back to my community and being a civil servant,' she said. But Carolina knew there was more to learn, and as the clean energy industry rapidly expanded, she wanted to be part of it in a bigger way. In addition to taking data science courses, connecting with industry leaders and learning from seasoned professionals, she became involved with 'Latinx in Sustainability.' As part of its leadership team, Carolina helped develop mentorship programs, professional development stipends and webinars to make the clean energy industry more accessible. 'We wanted to let people know that there is space for everyone in this industry,' she explained. The right connections, the right opportunities Through her network, Carolina was introduced to the Clean Energy Jobs Program, an initiative that helps New Jersey residents access training and career opportunities in the clean energy sector. CEJ works with the state's Department of Labor and numerous public and private partners, including PSE&G, to connect job seekers with real-world opportunities, from skilled trades to professional roles in energy consulting. Carolina shared her career goals with CEJ, and they helped her refine her resume, identify job openings and navigate the hiring process. 'They helped me figure out exactly what kind of work I was looking for,' she said. A career with purpose and growth Thanks to the support and resources available through CEJ, Carolina landed a position at an energy consulting firm, where she now works on projects that improve efficiency, assess energy usage and help companies – including PSE&G – implement smart solutions. 'It's been great to get all the technical skills I wanted, to challenge myself and to learn more about the industry,' she said. 'I've always advocated for myself, wanting to contribute to different communities – especially Spanish-speaking communities – while building a strong technical skill set.' Even as she builds her career, Carolina is focused on helping others find their path in the clean energy sector. She volunteers at resume workshops and speaks to students and job seekers about the variety of opportunities available. 'I know there are so many people who think they can't be part of this industry because they don't have a four-year degree or they're still in community college,' she said. 'But there are so many different opportunities, whether you want to go into the trades, pursue certifications or work in analysis like I do. It's a booming industry, and there's room for so many more voices.' Powering the future – together Carolina's journey is a testament to what's possible when ambition meets opportunity. With the right support and access to resources like the Clean Energy Jobs Program, more people can step into rewarding careers in the energy industry. For those looking to make a career move, whether in the trades, technology or analysis, now is the time. The industry is growing, the opportunities are real, and, like Carolina, you might just find the perfect fit. About The Clean Energy Jobs Program The Clean Energy Jobs Program has supported the placement of more than 2,700 individuals in clean energy jobs since its inception, helping to build a skilled workforce that supports both economic and environmental progress in New Jersey. For more information about the Clean Energy Jobs Program and other energy efficiency initiatives, visit Visit 3BL Media to see more multimedia and stories from PSEG
Yahoo
15-05-2025
- Business
- Yahoo
PSE&G Proposes New Solutions To Help Customers Dealing With Upcoming Energy Price Increases
PSE&G files updated proposal to offer additional short-term assistance, while standing ready for long-term solutions NEWARK, N.J., May 15, 2025 /PRNewswire/ -- PSE&G today announced that it is amending its May 7, 2025 filing with the New Jersey Board of Public Utilities (BPU) to provide additional short-term relief for mitigating the impact of recent significant increases in electric supply costs caused by PJM's high capacity market prices. In the filing, PSE&G is responding to requests for temporary solutions from Gov. Phil Murphy issued in a press release yesterday, in addition to a one-time waiver of carrying costs for credits that might be issued this summer, pending BPU action. "As Gov. Murphy said yesterday in his press release, utilities are not the cause of the unexpected rise in utility rates, but we have a role to play in providing options to assist our customers," said Kim Hanemann, president and COO, PSE&G. "PSE&G works closely with our customers and communities to help ensure they have access to programs that fit their needs to manage their bills. We will continue to work with policymakers on short-term solutions to assist our customers while working with the state on long-term solutions, including the need for more generation." For decades, PSE&G has worked with customers, and with nonprofits and community organizations who work with utility customers, to raise awareness, educate and inform customers about energy assistance options. In recent years, PSE&G has participated in hundreds of events across the state and communicated directly to customers through the mail and online about the programs and support available to help manage bills. Short-term solutions filed with the BPUIn response to requests made in Gov. Phil Murphy's May 14 press release, and as they relate to the May 7 BPU filings he noted in his press release, PSE&G requests the BPU approve: The implementation of an expansion of the Winter Termination Program, which provides utility shut-off protection to low-income and vulnerable individuals. The suspension of reconnection fees. The voluntary removal of its carrying charges for a temporary credit beginning on July 1, 2025 to offset the electric bill increases that will occur this summer. Carrying charges are the cost that the company will incur when delaying collection of the supply cost increase PSE&G pays to the suppliers. PSE&G is proud of its track record of maintaining customer affordability and award-winning reliable service. PSE&G bills are nearly equivalent to 2008 levels when adjusted for inflation. PSE&G works hard to keep customer bills as low as possible and this has resulted in PSE&G being a top performer nationally in affordability. May 7 filing with the BPU In compliance with the BPU's order dated April 23, 2025, PSE&G's May 7 filing describes options for the creation of a Temporary Supply Offset Clause ("TSOC"), a temporary credit beginning on July 1, 2025 to offset the electric bill increases that will occur this summer, bill increases that largely stem from the July 2024 PJM Base Residual Auction. As indicated in the May 7 filing, the three options included a 100% offsetting credit, a 50% offsetting credit and a 25% offsetting credit, which were based on guidance from BPU Staff. Long-term solutions needed While PSE&G has been warning for several years about the supply and demand imbalance in the PJM region, we remain committed to working with stakeholders in government regarding long-term solutions to these significant rate increases, including policy and legal changes to encourage the development of new generation. PSE&G customer assistance PSE&G works directly with its customers, and with nonprofits and community organizations who work with utility customers, to inform them about energy assistance options. These efforts are designed to provide access to information on a range of energy efficiency and affordability offerings – from rebates and discounts to programs for small businesses and corporations. PSE&G's energy efficiency programs provide free assessments to help make customer's homes or businesses more efficient, and lower energy use year-round. As of this past February, over 415,000 customers benefitted from programs that reduced energy consumption and lowered bills. On an annual basis, participants saved nearly $640 million. Last year, PSE&G made improvements to better identify and reach customers who are most likely eligible for energy assistance programs and affordability options. In the end, approximately 226,000 customers received more than $265 million in support and assistance from these and other outreach initiatives. We estimate that another 100,000 customers are eligible for these programs but have yet to reach out. PSE&G provides information regarding affordability options that customers may qualify for based on certain criteria like income eligibility (i.e. the Low Income Home Energy Assistance Program (LIHEAP), or SHARES for customers who may be experiencing a temporary financial crisis). There are also additional bill payment tools to help customers manage costs, including PSE&G's Equal Payment Plan and Deferred Payment Arrangements. PSE&G's Equal Payment Plan estimates annual energy costs, and divides bills into 12 equal monthly payments, which allows customers to levelize their monthly spend expectations. Deferred Payment Arrangements allow customers to pay a portion of past-due balances over an agreed-upon period. PSE&G is promoting affordability and bill management programs in person through its customer service centers and call center, while also educating customers through a multichannel communication that includes bilingual emails, social media, newsletters, bill inserts, direct mail, media interviews and webinars and events with our community partners. Customers can also find valuable energy assistance information at and PSE&GPublic Service Electric & Gas Co. is New Jersey's oldest and largest gas and electric delivery public utility, as well as one of the nation's largest utilities. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 23 consecutive years. For the third consecutive year, PSE&G is the recipient of the ENERGY STAR Partner of the Year award in the Energy Efficiency Program Delivery category. In addition, in 2024 J.D. Power named PSE&G number one in customer satisfaction with residential electric service and gas service in the east among large utilities. PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG) (NYSE:PEG), a predominantly regulated infrastructure company focused on a clean energy future and has been named to the Dow Jones Sustainability Index for North America for 17 consecutive years ( Forward-Looking StatementsThis release includes forward-looking statements, including but not limited to statements regarding anticipated or expected energy savings, cost saving and greenhouse gas emissions avoidance. There can be no assurance that such energy and costs savings and greenhouse gas emissions avoidance will be realized in the amounts described and / or in the timeframes anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to management but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Factors that may cause actual results to differ include, without limitation: the ability to implement our energy efficiency business strategy, and customer adoption of our energy efficiency offerings. All forward-looking statements made in this release are qualified by these cautionary statements and readers are cautioned not to place undue reliance on these forward-looking statements The forward-looking statements contained in this Report are intended to qualify for the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Visit PSEG at: PSEG on Facebook PSEG on Twitter PSEG on LinkedIn CONTACT:Media RelationsMarijke View original content to download multimedia: SOURCE Public Service Electric & Gas Company (PSE&G) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
