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PSEG Announces 2021 First Quarter Results


PSEG Announces 2021 First Quarter Results
$1.28 PER SHARE OF NET INCOME
NON-GAAP OPERATING EARNINGS OF $1.28 PER SHARE
Re-Affirms Non-GAAP 2021 Operating Earnings Guidance of $3.35 - $3.55 per Share
BPU Extends $10/MWh Zero Emission Certificates for Three NJ Nuclear Units to May 2025
Progress on Strategic Alternatives Yields Sale of Solar Source Portfolio
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NEWARK, N.J., May 5, 2021 /PRNewswire/  Public Service Enterprise Group (NYSE: PEG) reported Net Income for the first quarter of 2021 of $648 million, or $1.28 per share as compared to Net Income of $448 million, or $0.88 per share, in the first quarter of 2020. Non-GAAP Operating Earnings for the first quarter of 2021 were $650 million, or $1.28 per share, compared to non-GAAP Operating Earnings for the first quarter of 2020 of $520 million, or $1.03 per share. Non-GAAP results for the first quarter exclude items shown in Attachments 7 ....

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New Jersey regulators extend nuclear subsidies for PSEG/Exelon reactors


EnergyNew Jersey regulators extend nuclear subsidies for PSEG/Exelon reactors
Reuters
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The thermoelectric plant Bocamina is seen after Unit I was closed today amid a drive by Chile to end carbon emissions from its grid, in Coronel, Chile December 31, 2020. REUTERS/Jose Luis Saavedra
New Jersey utility regulators on Tuesday voted unanimously to extend subsidies, called Zero Emission Certificates (ZECs), for the state s three nuclear power reactors at Salem and Hope Creek for an additional three years.
The reactors are owned in whole or in part by units of New Jersey energy company Public Service Enterprise Group Inc (PSEG)(PEG.N) and Illinois energy company Exelon Corp (EXC.O). ....

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New Jersey Board Grants Plant Subsidies - News - Nuclear Power News - Nuclear Street - Nuclear Power Plant News, Jobs, and Careers


New Jersey Board Grants Plant Subsidies
New Jersey’s Board of Public Utilities has granted the state’s three nuclear power plants a $300 million subsidy designed to keep the plants from closing in the face of lower prices for electricity and the onrush of the climate crisis.
The fear, according to WHYY news, is that the zero-carbon emissions nuclear plants will close, setting the stage for fossil-fuel burning plants to step in and take their place.
“Were these plants to close, we would lose the single largest source of the state’s overall clean energy power supply,” said board president Joe Fiodaliso. ....

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