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MarketScreener Homepage  >  Equities  >  Nyse  >  Public Service Enterprise Group, Inc.    PEG


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Public Service : PSEG Long Island Ready to Respond to Impact of Hurricane Isaias

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08/01/2020 | 09:36am EDT
PSEG Long Island Ready to Respond to Impact of Hurricane Isaias

PSEG Long Island has social distancing plans in place to work safely and provide excellent service

(UNIONDALE, N.Y. - Aug 1, 2020) - PSEG Long Island continues to monitor the track and the potential impact Hurricane Isaias will have on its service territory early next week. The company is ready to respond to possible power outages and is encouraging its customers to take the steps necessary to be prepared and safe.

'The current forecast is showing that Isaias will settle off Long Island as early as Tuesday morning,' said John O'Connell, vice president of Transmission and Distribution, PSEG Long Island. 'We want to ensure that we have additional line and tree crews at the ready should the service territory get hit with the strong wind gusts and heavy rain currently in the forecast. Receiving support from off-island utilities and contractors who will work alongside our own highly trained line personnel will allow us to quickly and safely restore power to our customers. Utility crews will work 16-hour shifts once restoration efforts begin.'

PSEG Long Island is ensuring additional supplies are on hand, including poles and transformers, and will have additional personnel ready to respond to the approaching storm.

PSEG Long Island has made significant investments to make the electric system more resilient to the effects of extreme weather conditions. From storm hardening upgrades to ongoing enhanced tree maintenance and patrolling lines to major hospitals, proactive work allows the system to better withstand extreme weather.

'During the COVID-19 pandemic, PSEG Long Island remains committed to providing safe, reliable electric service, strong storm response and excellent customer service,' O'Connell said. 'We have adapted our storm procedures to follow public health best practices and accommodate for other potential industrywide changes. As our personnel operate under these unusual circumstances to safely restore power as quickly as possible, we thank our customers for their patience and understanding.'

The safety of PSEG Long Island's customers and employees is the company's top priority. We ask that customers remain in their homes while crews are working nearby. If customers must speak with our crews, we ask that they practice responsible 'social distancing' and remain at least 6 feet away to ensure the health of everyone involved. For more information about how PSEG Long Island continues to live up to its commitments during the pandemic, please visit www.psegliny.com/covid19.

How customers can prepare for a storm:

  • Ensure you have a battery-powered radio and fresh batteries.
  • Check your supply of flashlights, blankets, nonperishable food and bottled water.
  • Create an emergency communications plan.
  • Develop an evacuation plan.
  • Charge your cell phones, tablets and other mobile devices.
  • Make sure to have cash available. Banks may be closed or inaccessible after a storm.
  • Fill up your vehicle's fuel tank.
  • Bring in unsecured objects and furniture from patios and balconies.
  • Compile a list of emergency phone numbers, including PSEG Long Island's 24-hour Electric Service number: 1-800-490-0075.
  • Discuss storm and lightning safety with your family. Visit https://www.psegliny.com/safetyandreliability/stormsafety for safety tips from Sesame Street, YouTube safety videos and more.
  • Follow PSEG Long Island on Facebook and Twitter for updates before, during and after the storm.
  • Downed wires should always be considered 'live.' Do not approach or drive over a downed line, and do not touch anything it might be in contact with. If a wire falls on or near your car, stay inside the car, call 911 and do not get out until PSEG Long Island de-energizes the line. If you MUST exit the vehicle because it is on fire, jump as far as possible away from the vehicle, with both feet landing on the ground at the same time, and hop or shuffle away.

Electrical safety guidelines for floods:

  • If rising water threatens your home - or if you evacuate your home - turn off your power at the circuit breaker panel or fuse box.
  • Electric current passes easily through water, so stay away from downed power lines and electrical wires. Don't drive over - and don't stand near - downed power lines.
  • Downed lines will be hard to see in the rain and can potentially be hidden in standing water. If you encounter large pools of standing water, stop, back up and choose
  • another path.
  • If your home or business is flooded, PSEG Long Island can't reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make repairs and obtain verification before power can be restored.

Stay connected:

  • Download the PSEG Long Island mobile app to report outages and receive information on restoration times, crew locations and more
  • To report an outage and receive status updates via text, text OUT to PSEGLI (773454) or visit us online at www.psegliny.com/outages
  • To report an outage or downed wire call PSEG Long Island's 24-hour Electric Service number: 800-490-0075 or use our web chat feature at www.psegliny.com
  • Follow PSEG Long Island on Facebook and Twitter to report an outage and for updates before, during and after the storm
  • Visit PSEG Long Island's outage information across Long Island and the Rockaways online at https://mypowermap.psegliny.com

# # #

PSEG Long Island
PSEG Long Island operates the Long Island Power Authority's transmission and distribution system under a long-term contract. PSEG Long Island is a subsidiary of Public Service Enterprise Group Inc. (PSEG) (NYSE:PEG), a publicly traded diversified energy company.


PSEG - Public Service Enterprise Group Inc. published this content on 01 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2020 13:36:12 UTC

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Financials (USD)
Sales 2020 10 441 M - -
Net income 2020 1 759 M - -
Net Debt 2020 16 803 M - -
P/E ratio 2020 16,8x
Yield 2020 3,54%
Capitalization 27 994 M 27 994 M -
EV / Sales 2020 4,29x
EV / Sales 2021 4,24x
Nbr of Employees 12 992
Free-Float 94,3%
Duration : Period :
Public Service Enterprise Group, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends PUBLIC SERVICE ENTERPRISE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 59,35 $
Last Close Price 55,35 $
Spread / Highest target 22,9%
Spread / Average Target 7,23%
Spread / Lowest Target -7,86%
EPS Revisions
Ralph Izzo Chairman, President & Chief Executive Officer
Ralph A. LaRossa Chief Operating Officer
Daniel J. Cregg Chief Financial Officer & Executive Vice President
Shirley Ann Jackson Independent Director
David Lilley Independent Director
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