PSEG says unable to estimate losses related to Hurricane Sandy The company says "PSE&G filed a petition with the BPU seeking authorization to defer on our books actually incurred, uninsured, incremental storm restoration costs associated with our gas and electric distribution systems. Transmission related storm costs to be reviewed as part of the existing Formula Rate process at the FERC...PSE&G and Power are unable to estimate the possible loss or range of loss related to Hurricane Sandy; however, such costs could be material. We maintain property insurance for both nuclear and non-nuclear property. We intend to seek recovery from our insurers for any property damage above our self-insured retentions; however, no assurances can be given relative to the timing or amount of such recovery."
News For PEG From The Last 14 Days
Check below for free stories on PEG the last two weeks.
PSEG acquires solar facility in Vermont from juwi solar PSEG will acquire the ERWR Whitcomb Farm Solar project from juwi solar. The facility has a 25-year power purchase agreement with Vermont Electric Power Producers as part of the Vermont Sustainably Priced Energy Enterprise Development program. The acquisition will increase PSEG's Solar Source portfolio to 110 MWdc.
PSEG upgraded to Buy from Hold at Argus Argus upgraded PSEG to Buy from Hold due to an improved outlook for forward power prices, valuation, and an expanding infrastructure improvement program. Price target is $44.