Public Service Enterprise Group
European Marketing Trip
February 25-29, 2008
Forward-Looking Statement
The statements contained in this communication about our and our
subsidiaries’ future performance, including, without limitation, future
revenues, earnings, strategies, prospects and all other statements that are
not purely historical, are forward-looking statements for purposes of the
safe harbor provisions under The Private Securities Litigation Reform Act
of 1995. Although we believe that our expectations are based on
information currently available and on reasonable assumptions, we can
give no assurance they will be achieved. There are a number of risks and
uncertainties that could cause actual results to differ materially from the
forward-looking statements made herein. A discussion of some of these
risks and uncertainties is contained in our Annual Report on Form 10-K
and subsequent reports on Form 10-Q and Form 8-K filed with the
Securities and Exchange Commission (SEC), and available on our
website: http://www.pseg.com. These documents address in further
detail our business, industry issues and other factors that could cause
actual results to differ materially from those indicated in this
communication. In addition, any forward-looking statements included
herein represent our estimates only as of today and should not be relied
upon as representing our estimates as of any subsequent date. While we
may elect to update forward-looking statements from time to time, we
specifically disclaim any obligation to do so, even if our estimates change,
unless otherwise required by applicable securities laws.
1
GAAP Disclaimer
PSEG presents Operating Earnings in addition to its Net Income reported
in accordance with accounting principles generally accepted in the United
States (GAAP). Operating Earnings is a non-GAAP financial measure that
differs from Net Income because it excludes the impact of the sale of
certain non-core domestic and international assets and costs stemming
from the terminated merger agreement with Exelon Corporation. PSEG
presents Operating Earnings because management believes that it is
appropriate for investors to consider results excluding these items in
addition to the results reported in accordance with GAAP. PSEG believes
that the non-GAAP financial measure of Operating Earnings provides a
consistent and comparable measure of performance of its businesses to
help shareholders understand performance trends. This information is
not intended to be viewed as an alternative to GAAP information. The last
slide in this presentation includes a list of items excluded from Net Income
to reconcile to Operating Earnings, with a reference to that slide included
on each of the slides where the non-GAAP information appears. These
slides are only intended to be reviewed in conjunction with the oral
presentation to which they relate.
2
PSEG Strategic Overview
Ralph Izzo
Chairman, President and Chief Executive Officer
Tom O’Flynn
Executive Vice President and Chief Financial Officer
President – PSEG Energy Holdings
PSEG Overview
Electric Customers: 2.1M
Gas Customers: 1.7M
Nuclear Capacity: 3,500 MW
Total Capacity: 13,300 MW
Traditional T&D
Leveraged
Leases
2008E Operating Earnings: $1,420M - $1,560M
2008 EPS Guidance: $2.80 - $3.05
Assets (as of 09/30/07): $28.9B
Market Capitalization (as of 2/6/08): $23.6B
Domestic/Int’l
Energy
Regional
Wholesale Energy
2007 Operating Earnings: $376M* $949M* $115M*
2008 Guidance: $350M - $370M $1,040M - $1,140M $45M - $60M
* See page 47 for Items excluded from Net Income to reconcile to Operating Earnings
Total Domestic:
2,400 MW
4
PSEG - Value Proposition
PSEG well positioned in current business environment
Carbon constrained future
Critical need to reinvest in utility infrastructure
Constrained markets creating need for new capacity
PSEG asset mix provides balance in expanding markets
Disciplined approach to investment through regimented
review of operations and markets
Strengthened balance sheet supports capital investment
Return of cash to shareholders through dividends provides
discipline to investment decision making
5
PSEG – 2007: A Defining Year
Solidified operations
Resumed independent operation of Nuclear
Top decile reliability standards maintained at PSE&G
Successful re-staffing of organization
Meeting commitment to system reliability
Transmission investment announced
New investment in peaking generation announced
Addressing NJ’s clean energy goals
Multi-faceted strategy
Delivered on financial promises
Earnings at upper end of guidance despite loss of some international
earnings
Latin American assets sold at attractive values
Balance sheet strengthened with reduction in debt
Cash returned to shareholders
6
Earnings – A Year of Strong Results…
$4.00
$3.00
$2.00
$1.00
$0.00
2006 Operating
Earnings*
2007 Operating
Earnings*
2008 Guidance*
$2.71
$2.80 – $3.05
$1.73
* Reflects 2:1 stock split, effective February 5, 2008. See page 47 for Items excluded from Net Income to reconcile to Operating Earnings
** Percentage change in growth based on mid-point of guidance
… to be followed by growth.
2007
Guidance:
$2.58 - $2.73
7
Environmental position
A carbon constrained future
Critical infrastructure needs
Capacity requirements in
constrained markets
… creates opportunities for PSEG’s long-term growth.
The current business environment…
Regional Greenhouse Gas Initiative
(RGGI) enacted in NJ – PSE&G part
of the solution
Well operating nuclear fleet with
growth potential
Back-end technology on Hudson
and Mercer ($1B - $1.2B)
Solar initiative proposed for $100M
Increased utility investment
Transmission investment of $1.6B
over 5 years
Pursuing 300 – 400MW expansion
of peaking capacity ($250M -
$350M)
8
Climate change is the preeminent issue of our time…
The issue cuts across the PSEG group of companies
Three critical strategies are required to meet carbon
reduction goals:
Conservation
Renewables
Clean, zero and low-carbon central station electric
generating capacity
… with our response defining the future of the company.
9
Climate initiatives…
Regional Greenhouse Gas Initiative (RGGI) effective January 1, 2009
Energy Master Plan – No explicit CO2 target, but:
20% energy efficiency by 2020
Calls for 20% renewables by 2020
Draft Plan expected in Spring 2008
NJ Global Warming Response Act:
Stabilization of economy-wide greenhouse gas emissions at 1990 levels
by 2020
Reduction of economy-wide greenhouse gas emissions to 80% below
2006 levels by 2050
Establishes emissions portfolio standard for suppliers of power into NJ
… present numerous opportunities for PSE&G and PSEG Power.
10
Policymakers are looking to Cap and Trade for the power
industry to reduce CO2 emissions
PSEG’s generation carbon intensity is lower than many
competitors and benefits from virtually any form of carbon
restrictions.
* Source: Energy Information Administration (2006)
2006 Emissions Rate Ranking
(Companies in PJM)
3,000
2,500
2,000
1,500
1,500
500
0
11
Right set of assets…
Large, diverse mix of low-cost, base-load, load-following generating assets
Reliable electric and gas distribution and transmission systems
Stable portfolio of investments in domestic generation and leases
Right markets…
Generation assets operate in attractive and growing markets
Nuclear and coal base-load capacity operate in markets where the price for power is set by
gas
Transmission and distribution assets provide service in a modest growth market with
reasonable regulation
At the right time…
Mid-Atlantic, New England and Texas recognizing the value of capacity in constrained areas
A move to control carbon benefits our nuclear-based fleet
Power has opportunity for brownfield development at existing sites
Attractive values for international assets
T&D set to benefit from capital investment for new infrastructure
PSEG – Excellent position for today…
… ready for tomorrow.
12
Dividends – Returning cash to shareholders
$1.08
$1.08
$1.08
$1.08
$1.08
$1.10
$1.12
$1.14
$1.17
$1.29
$1.00
$1.20
$1.40
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008E
2.7%**
2.8%
3.5%
3.8%
4.8%
5.6%
6.4%
4.9%
5.7%
5.9%
Yield
44%**
45%
85%
65%
70%
62%
111%
59%
59%
69%
Payout
Ratio
*Annual dividend rate reflects 2:1 stock split effective on February 4, 2008
**2008 yield calculation based on PEG stock price as of January 18, 2008; payout ratio based on mid-point of 2008 earnings guidance
Payout ratio = percent of income paid to shareholders as common dividends; Yield = annual dividend as a percent of the average stock price for the year
PSEG Annual Dividend Rate*
5-year rate of growth: 4.1%
10-year rate of growth: 2%
13
Creating shareholder value for the long-term…
… has been and will continue to be our focus.
-50
0
50
100
150
200
250
300
350
400
450
1997
2007
PEG
S&P Electrics
Total Comparative Returns
(12/31/97 – 12/31/07)
14
PSEG Power
Positioned for growth in 2008 and beyond – PSEG Power
Strong
Operations
Constructive
Regulatory,
Business and
Market
Environment
Growth
Opportunities
with Manageable
Risk
Continued focus on strong performance of
nuclear fleet
Resumed independent operations at year-end
Increased output from entire fleet
NJ BGS model represents deep, liquid market
providing opportunity to contract output over
multi-year period
PJM’s capacity market supports reliability
Nuclear and coal base-load fleet sold in
market with power prices set by gas
Proposed construction of 300-400MW of new
gas fired peaking capacity
Reviewing generation opportunities
Exploring new nuclear
16
Hedging program provides near-term stability from market
volatility…
… while remaining open to long-term market forces.
Estimated
impact of
$10/MWh PJM
West RTC price
change*
$0.01 - $0.02
$0.15 - $0.45
*Assuming normal market dynamics
Other output
Contracted Output & Prices
$0.04 - $0.10
Nuclear and
Coal Output
100%
80%
60%
40%
20%
0%
2008
2008
$66-68/MWh
2009
2009
$72-75/MWh
2010
2010
$76-79/MWh
Power’s Generation Output
17
Power expects to realize increasing margin improvement…
… through the repricing of capacity at market prices.
Power’s capacity is located in three Northeast markets
2008
Delivery Year ($MW/Day)
(a) – includes APS
PJM
NY
NE
Total Capacity 13,300MW
(~ 1,000 - 1,500MW under RMR)
The RPM Auction to date has provided strong price signals in PJM
$56-60
$49-51
$38-41
per KW-yr
2010
2009
2008
Contracted Prices
Power’s pricing for capacity improves over time
$174.29
$174.29
$174.29
2010 / 2011
$97.82
$191.32 (a)
$191.32
2009 / 2010
$111.92
---
$148.80
2008 / 2009
2007 / 2008
Zones
$40.80
Rest of Pool
---
MAAC
$197.67
Eastern MAAC
18
2003
2004
2005
2006
2007
2008
Capacity
Load shape
Transmission
Congestion
Ancillary services
Risk premium
Full Requirements
Round the Clock
PJM West
Forward Energy
Price
$33 - $34
$36 - $37
$55.59
$55.05
$65.41
$44 - $46
~ $21
~ $18
~ $21
$102.51
$67 - $70
~ $32
$98.88
~ $41
$58-$60
$68 - $71
~ $43
$111.50
Increase in Full Requirements Component Due to:
Increased Congestion (East/West Basis)
Increase in Capacity Markets/RPM
Volatility in Market Increases Risk Premium
Power’s fleet diversity and location...
Market Perspective – BGS Auction Results
… has enabled successful participation in each BGS auction.
Note: Prices reflect PSE&G Zone
19
$0
$10
$20
$30
$40
$50
$60
$70
2005
2006
2007
2008 Est
2009 Est
… are expected to drive significant increases in Power’s
gross margin.
Operational improvements and recontracting in current
markets…
Realized Gross Margin
Energy
Capacity
20
Power’s open EBITDA is approximately $2.4 - $2.6 billion…
… which will vary depending upon market drivers.
~ $40M
$1/MWh
~ $64 - 68/MWh
(PJM-West)
Energy
~ $1.0 – 1.05B
O&M
Capacity
~ $120M
$10/KW-yr
~ $60 - $65/KW-yr
(~ $165 - $178/MW-day)
Impact
EBITDA
Sensitivity
Assumption
$1.0
$1.5
$2.0
$2.5
Note: 2007 EBITDA $1.85B
21
PSE&G
Positioned for growth – PSE&G
Strong
Operations
Growth
Opportunities
with Manageable
Risk
Mid-Atlantic ReliabilityOne award – six years
running
O&M growth less than inflation
Rate agreement provides opportunity to earn
authorized return
RGGI provides PSE&G with opportunity for a
strong role in meeting the State’s energy
efficiency goals
Proposed $100M solar initiative
NJ Energy Master Plan – draft proposal
expected in Spring 2008
Transmission projects represent potential
$1.6 billion investment over 5 years beginning
in 2008
Opportunity for additional growth with EMP
initiatives
Constructive
Regulatory,
Business and
Market
Environment
23
Regulated electric transmission, electric and gas distribution system
Characteristics
FERC regulation for electric transmission; NJ BPU regulation for
electric and gas distribution
Electric and Gas distribution rates frozen through November 2009
PSE&G’s base investment plan …
Gas
Distribution
30%
Electric
Transmission
22%
Electric
Distribution
48%
Gas
Distribution
35%
Electric
Transmission
13%
Electric
Distribution
52%
2007 Actual
Rate Base = $6.4 B
2012 Base Plan
Rate Base = $10.2 B
Equity Ratio ~ 48%
… coupled with fair regulatory treatment provides a solid
base for future earnings growth potential of 7-8% per year.
PSE&G Rate Base
24
New transmission investment
Transmission investment in 500Kv programs designed to
improve reliability
Proceeding with necessary permits to support PSE&G investment in
500Kv Susquehanna to Roseland line
Filed with FERC for incentives on $600 - $650 million
investment in this project
PSE&G seeking 150 basis points in its authorized return on equity
and 100% CWIP in rate base
Regulatory approach supports on-time recovery of capital
investment
25
Regional Greenhouse Gas Initiative (RGGI)
NJ Department of Environmental Protection (DEP) authorized to sell,
exchange, retire or auction greenhouse gas allowances
RGGI to transition to national program that is comparable in scope
Greenhouse Gas Emission Portfolio Standard (EPS) to be implemented
by July 2009
Utility companies allowed to invest in energy efficiency, conservation and
Class 1 renewable energy resources on a regulated basis
Global Warming Solutions Fund to be established with proceeds from
auction to invest in renewable energy, energy efficiency and customer
support programs
… is a step towards meeting NJ’s energy goals.
26
PSEG Energy Holdings
A re-positioning of assets at PSEG Energy Holdings
Strong
Operations
Growth
Opportunities
with Manageable
Risk
Texas gas-fired assets – continued strong
performance
Other US generation – predictable strong
performance from contracted base-load and
peaking assets
Resources – focus on lessee credit ratings
Strong economic fundamentals and
strengthening foreign exchange rate has
supported value of the remaining Latin
American asset
ERCOT represents a market with better than
average demand growth
Resources – tax issues monitored closely
Capitalized on attractive values for
international assets
Strong cash flow generation for debt
retirement and growth
Constructive
Regulatory,
Business and
Market
Environment
28
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
Sources
Uses
Cash From
Ops
Recourse
Bond
Redemptions
SAESA N.R.
Financing
Cash on
hand
PSEG Energy Holdings Sources and Uses
2005 – Feb 2008
Asset
Sales
During the past three years, Energy Holdings has
substantially decapitalized its balance sheet…
… which allowed PSEG to both reduce its exposure to
international risk and redeploy capital to core businesses.
Dividends/ROC to
PSEG
Cash on
hand
IRS Deposit
$2.7 B
$2.7 B
29
PSEG
$ 872
(66)
161
262
$ 515
2006
$ 1,377
(63)
115
376
$ 949
2007
Operating Earnings
Per Share
$ Millions (except EPS)
(0.13)
(0.13)
Enterprise
$ 1.73
$ 2.71
PSEG
0.32
0.23
PSEG Energy Holdings
0.52
0.74
PSE&G
$ 1.02
$ 1.87
PSEG Power
2006
2007
For the years ended December 31,
See page 47 for Items excluded from Net Income to reconcile to Operating Earnings
Full year operating earnings by subsidiary
* Historical amounts have been adjusted to reflect the effects of the 2:1 stock split in February 2008, retroactively.
31
Strong earnings growth in 2007 and projected for 2008
161
115
262
376
515
949
45-60
350-370
1,040-1,140
(66)
(63)
(15)-(10)
2006
2007
2008
$2.80 - $3.05
$1.73*
$2.71*
Holdings
PSE&G
Power
Parent
Operating Earnings by Subsidiary
* Historical amounts have been adjusted to reflect the effects of the 2:1 stock split in February 2008, retroactively.
See page 47 for Items excluded from Net Income to reconcile to Operating Earnings
32
$0.0
$3.0
$6.0
$9.0
$12.0
$15.0
Sources
Uses
Cash
from
Ops
Net Shareholder
Dividend
Financing
Share Repurchases /
New Investments
PSEG Sources and Uses
2007 - 2011
Asset
Sales
Excess cash between $2.0B and $2.5B expected to be
available through 2011…
… which could translate into approximately $5.0B of new
investment (50/50 capital structure) with asset sales by
Holdings providing upside potential.
Investment
$2.0 – $2.5
33
Meeting commitments
2007 earnings at top of guidance
System reliability enhanced with expansion of transmission system
New investment in peaking generation
Turning challenges into opportunities
Addressing NJ’s Clean Energy goals
Solar initiative and energy efficient pilot programs
PSE&G to use more energy efficient equipment and vehicles
NJ support for emissions portfolio standard
Building foundation for growth
Selling non-core assets
Meeting targets for debt reduction
Capital program expanded
Public Service Enterprise Group dedicated to…
… operational excellence, financial strength and disciplined
investment.
34
Financial
Strength
Operational excellence is our foundation for success…
… and this will yield financial strength that will be deployed
through disciplined investment.
Operational
Excellence
Disciplined
Investment
35
Public Service Enterprise Group
APPENDIX
... which experience higher prices during periods of high
demand.
Power’s assets are located in attractive markets near load
centers…
Current plant locations,
site expansion capability
Bethlehem Energy Center
(Albany)
New Haven
Bergen
Kearny
Essex
Sewaren
Edison
Linden
Mercer
Burlington
National Park
Hudson
Conemaugh
Keystone
Bridgeport
Peach Bottom
Hope Creek
Salem
System Interface
38
Low-cost portfolio
Strong cash generator
Regional focus with demonstrated
BGS success
Assets favorably located
Many units east of PJM constraint
Southern NEPOOL/ Connecticut
constraint
Near customers/load centers
Integrated generation and portfolio
management optimizes asset-
based revenues
… which provides for risk mitigation and strong returns.
Power’s assets reflect a diverse blend of fuels and
technologies…
18%
47 %
8 %
26 %
Fuel Diversity – 2008
Coal
Gas
Oil
Nuclear
Pumped
Storage
1%
Energy Produced - 2007
53%
24%
21%
Oil 1%
Pumped
Storage
1%
Nuclear
Coal
Gas
Total GWh: 53,196
Total MW: 13,300
39
Baseload units:
- Very low variable cost, low
bid price into the energy
market
- Always, or almost always
called upon to provide
power to serve load
Load following units:
- Primarily gas-fired,
higher variable cost
- Intermittently called
upon to provide power
to serve load
Peaking units:
- Gas- and oil-fired, high variable cost,
leading to high bid price into the
energy market
- Called upon to provide power only
during periods of peak demand to
serve load
Salem
Hope
Creek
Keystone
Conemaugh
Hudson 2
Linden 1,2
Burlington
Edison
Essex
Bergen 1
Sewaren
Hudson 1
Mercer1, 2
Bergen 2
… position the company well to serve full requirement load contracts.
Sewaren
Kearny
Linden / Essex
Burlington 12 / Kearny 12
Peach
Bottom
Bridgeport
New
Haven
Nuclear
Coal
Combined Cycle
Steam
GT Peaking
Power’s assets along the dispatch curve …
BEC
Illustrative
40
The potential impact of CO2 on PSEG Power…
$7.20
100%
Total
$0.00
$0.0
0%
Nuclear
$1.60
$4.0
40%
Gas CC
$0.60
$6.0
10%
CTs
$5.00
$10.0
50%
Coal
Impact
$/MWh
On margin
(approximate)
Dispatch curve implication @ $10/ton*
By Fuel Type
$12.0
$18.0
$30.0
@$30
$4.0
$6.0
$10.0
@$10
$2.0
$3.0
$5.0
@$5
Price ($/MWh)
0.4
0.6
1.0
Carbon tons/MWh
CC
CTs
Coal
PSEG Power Generation by Fuel
53%
24%
21%
Oil 1%
Pumped
Storage
1%
Nuclear
Coal
Gas
Total GWh: 53,196
… each $1/ton for carbon equals $0.024 cents per share.
* For illustration purposes – potential impact of CO2 on power prices with current dispatch.
41
$475 - $525
$700 - $750
2007 – 2010
Total
($ million)
2010
Mercer
2010
Hudson Unit
2
Completion
Date
Environmental Capital Requirements
Emissions Control Technology Projects
- NOx control – SCR
- SO2 control – Scrubber
- Hg and particulate matter control -
Baghouse
Hudson Unit 2 (608 MW)
NOx control – SCR installation complete
SO2 control – Scrubbers
Hg and particulate matter control –
Baghouse
Mercer (648 MW) – Units 1&2
Our environmental response…
… will help preserve the availability of our fossil fleet.
Power’s New Jersey coal units are
mid-merit, with capacity factors
averaging 50% to 60%
As markets tighten, increased
production is anticipated
42
$20
$30
$40
$50
$60
$70
$80
2003
2004
2005
2006
2007
2008
Fwd
2009
Fwd
2010
Fwd
2011
Fwd
2012
Fwd
$0
$3
$6
$9
$12
$/mmbtu
$/MWh
… influenced by market dynamics.
(1) Central Appalachian coal
(2) Source: PSEG ER&T; Forward prices as of December 31, 2007
Long-term market prices…
Electricity
(left scale)
Coal(1)
(right
scale)
Natural Gas Henry Hub
(right scale)
(2)
(2)
(2)
(2)
(2)
43
PSE&G operates in an attractive market …
NJ is ranked 3rd nationally in personal
income per capita
Mid-Atlantic ReliabilityOne Award winner -
six years running
Solid regulatory relationships on
traditional utility matters
Reasonable returns and strong cash flow
3,502 M Therms
44,709 GWh
Electric Sales and Gas
Sold and Transported
0.4%
1.7 Million
Gas
1.0%
2.1 Million
Electric
Projected Annual
Load Growth
2008 - 2012
Customers
10,378*
Billing Peak (MW)
1,429
Network Circuit Miles
1.4%
Projected Annual
Load Growth
2008 - 2012
Electric and Gas Distribution Statistics (12/31/07)
Transmission Statistics (12/31/07)
… and we have targeted our programs so that all customers will
benefit from the economic measures to improve energy efficiency and
reduce carbon.
N
E
W
S
N
E
W
S
COMBINED ELECTRIC &
GAS TERRITORIES
ELECTRIC TERRITORY
GAS TERRITORY
KEY
:
COMBINED ELECTRIC &
GAS TERRITORIES
ELECTRIC TERRITORY
GAS TERRITORY
KEY
:
*Billing Peak includes adjustment for Voltage Reduction
44
0.00
0.15
0.30
0.45
0.60
PSEG EPS Reconciliation – Q4 2006 versus Q4 2007
Q4 2007
operating
earnings
Q4 2006
operating
earnings
* See page 47 for Items excluded from Net Income to reconcile to Operating Earnings
Weather .03
Rate relief .02
Volume &
demand .01
O&M (.03)
Other (.01)
Recontracting &
strong markets .16
BGSS .03
MTM and O&M .01
Global
Texas – MTM .03 &
operations .01
Effective tax rate .02
Interest expense .01
Other operations (.01)
Resources
Interest expense .01
Effective tax rate (.01)
$0.27
$0.20
$0.02
$0.06
$0.55
PSE&G
Power
Holdings
45
0.00
1.00
2.00
3.00
PSEG EPS Reconciliation – Full Year 2006 versus Full Year 2007
2007
operating
earnings
2006
operating
earnings
* See page 47 for Items excluded from Net Income to reconcile to Operating Earnings
$1.73
$0.22
$0.85
($0.09)
$2.71
PSE&G
Power
Holdings
Recontracting &
strong markets .74
BGSS .11
Higher tax rate in
2006 .02
Depreciation, interest
& other (.01)
MTM (.01)
Rate relief
.13
Weather .07
Volume &
demand .04
Transmission
& appliance
services .02
O&M & other
(.04)
Texas – MTM (.03) &
operations (.03)
Italy (.04)
Other .03
Resources (.02)
46
Items Excluded from Net Income to Reconcile to Operating Earnings
Please see Slide 2 for an explanation of PSEG’s use of Operating Earnings as a non-GAAP financial measure and how
it differs from Net Income.
$ Millions (except EPS)
2007
2006
2007
2006
2007
2006
2007
2006
Merger related Costs:
PSE&G
-
$
-
$
-
$
(1)
$
Enterprise
-
(1)
-
(7)
Total Merger related Costs
-
$
(1)
$
-
$
(8)
$
-
$
-
$
-
$
(0.02)
$
Impact of Asset Sales:
Loss on Sale of RGE
-
-
-
(178)
-
$
-
$
-
$
(0.35)
$
Chilquinta & Luz Del Sur
(23)
-
(23)
-
(0.05)
-
(0.05)
-
Write down of Turboven
-
-
(7)
-
-
-
(0.01)
-
Premium on bond redemption
(28)
-
(28)
(7)
(0.05)
-
(0.06)
(0.02)
Total Impact of Asset Sales
(51)
$
-
$
(58)
$
(185)
$
(0.10)
$
-
$
(0.12)
$
(0.37)
$
Discontinued Operations:
Power - Lawrenceburg
-
$
(220)
$
(8)
$
(239)
$
-
$
(0.43)
$
(0.02)
$
(0.47)
$
Holdings:
SAESA
(69)
32
(33)
57
(0.13)
0.06
(0.06)
0.11
Electroandes
67
6
57
16
0.13
0.01
0.11
0.03
Elcho and Skawina
-
-
-
226
-
-
-
0.45
Total Holdings
(2)
$
38
$
24
$
299
$
-
$
0.07
$
0.05
$
0.59
$
Total Discontinued Operations
(2)
$
(182)
$
16
$
60
$
-
$
(0.36)
$
0.03
$
0.12
$
Quarters Ended Dec. 31,
Years Ended Dec. 31,
Impact to PSEG EPS
Quarters Ended Dec. 31,
Years Ended Dec. 31,
* Reflects 2:1 stock split, effective February 4, 2008
47