EXHIBIT 8 July 10, 2000 PSEG Energy Holdings Inc. 80 Park Plaza Newark, NJ 07101 RE: PSEG Energy Holdings Inc. Certain Federal Income Tax Considerations Ladies and Gentlemen: I am Associate General Counsel of Public Service Enterprise Group Incorporated and in that capacity have acted as counsel for its wholly-owned subsidiary, PSEG Energy Holdings Inc., a New Jersey corporation (the "Corporation"), in connection with the preparation of a Registration Statement on Form S-4 (the "Registration Statement), which has been filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Act"), relating to an offer (the "Exchange Offer") to exchange up to $300,000,000 aggregate principal amount of the Corporation's 9 1/8 % Senior Notes due 2004 (the "Exchange Notes") for a like principal amount of its outstanding 9 1/8% Senior Notes due 2004 (the "Original Notes"). I or member of my staff have reviewed copies of the Registration Statement and such other documents as I have deemed necessary or appropriate as a basis for the opinions set forth below. Based on the foregoing, I am of the opinion that if the offer and sale of the Exchange Notes are conducted in the manner described in the Prospectus and if the terms of the Exchange Notes are as contemplated by the Registration Statement, then the exchange of the Original Notes for Exchange Notes pursuant to the Exchange Offer will not constitute a significant modification of the terms of the Original Notes and, therefore, such exchange will not constitute an exchange for federal income tax purposes and will have no federal income tax consequences to holders of the Original Notes. The opinions expressed herein are based upon existing statutory, regulatory, and judicial authority, any of which may be changed at any time with retroactive effect. In addition, my opinions are based solely on the documents that I have examined, the authenticity of which I assume, such other information as I have deemed necessary or appropriate. My opinions cannot be relied upon if any of the facts contained in such documents or information is, or later becomes, inaccurate. Finally, my opinions are limited to the tax matters specifically covered herein, and I have not been asked to address, nor have I addressed, any other tax consequences of the Exchange Offer. I hereby consent to the filing of this opinion as an exhibit to the Registration Statement. I also consent to the reference to me under the captions "Federal Income Tax Considerations" and "Legal Opinions" in the Registration Statement. Very truly yours, /s/ James T. Foran -------------------------- James T. Foran 2