Bulletin
Investor Alert

London Markets Open in:

Market Pulse Archives

Jan. 27, 2021, 11:33 a.m. EST

PSE&G to invest $166 million in EV-charging infrastructure, creating 270 jobs

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Public Service Enterprise Group Inc. (PEG)
  • X
    Utilities Select Sector SPDR ETF (XLU)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

PSE&G Co., a subsidiary of Public Service Enterprise Group Inc. /zigman2/quotes/201831904/composite PEG -0.66% , said Wednesday that it expects to invest $166 million over six years and create about 270 jobs to build out an electric-vehicle charging network in New Jersey. The electric and gas utility's announcement comes after the New Jersey Board of Public Utilities approved on Wednesday a settlement that will allow PS&G to develop EV-charging infrastructure in the state. "The scarcity of public and private charging infrastructure discourages more people from driving electric vehicles," said Karen Reif, vice president of PSE&G's renewables and energy solutions group. "PSE&G's program will address those concerns and is designed to encourage people to make the switch to clean-running EVs and to help New Jersey enjoy the environmental and health benefits that will result from electrifying the transportation sector." Public Service Enterprise's stock fell 1.5% in midday trading Wednesday, as the SPDR Utilities Select Sector ETF /zigman2/quotes/206645117/composite XLU -1.18% shed 1.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.31% lost 1.5%.

/zigman2/quotes/201831904/composite
US : U.S.: NYSE
$ 54.25
-0.36 -0.66%
Volume: 2.38M
March 3, 2021 4:02p
P/E Ratio
14.44
Dividend Yield
3.76%
Market Cap
$27.58 billion
Rev. per Employee
$727,088
loading...
/zigman2/quotes/206645117/composite
US : U.S.: NYSE Arca
$ 58.77
-0.70 -1.18%
Volume: 22.92M
March 3, 2021 8:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,819.72
-50.57 -1.31%
Volume: 2.72B
March 3, 2021 5:03p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.