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Stock Market & Financial Investment News

News Breaks
December 4, 2012
16:40 EDTPEGPSEG 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.
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