PSEG sees costs associated with Hurricane Sandy $250M-$300M PSEG estimates that the cost associated with the restoration of PSE&G’s distribution and transmission system following the impact of Superstorm Sandy and the subsequent Nor’easter as approximately $250M-$300M. The estimated cost of restoration of $250M-$300M associated with Superstorm Sandy includes both expenses and capital related to the restoration, and the company expects at least 85% of those costs to be deferred or capitalized for future distribution or transmission recovery. The estimate does not include potential future costs to permanently repair PSE&G’s damaged infrastructure or to modify the infrastructure to reduce the risk of damage of future storms.
PSEG announces retirement of CFO Carolina Dorsa PSEG announced that Caroline Dorsa, CFO for PSEG will retire during the fourth quarter. PSEG has hired the firm of Spencer Stuart who has a search underway for a successor and will be considering both internal and external candidates.