PSEG

1903: The company was founded in 1903 and is headquartered in Newark, NJ.

1904: Revenues in the first year of operation, were $8.4 million from street railways, $5.4 million from gas manufacturing and sale, and $3.5 million from electricity.

1907: In August, PSC was obliged to incorporate the Public Service Railway Company as a wholly-owned subsidiary to operate its traction lines.

1916: Public Service provided more than 451 million passenger trips on its trolleys alone.

1924: Public Service Electric and Gas Company (PSE&G) is formed.

1928: The Public Service Electric and Gas Company, commonly referred to as PSE&G, is the primary subsidiary of the Public Service Enterprise Group (PSEG) and was established. The corporation merged its electric and gas utilities into a single company, PSE&G. Also, Public Service Coordinated Transport was formed as an umbrella for transit businesses.

1937: The company pioneered the development and use of gas-electric streetcars and buses, and began operating the world's first diesel-electric bus fleet.

1939: Thomas McCarter the Corporation’s first president and held the position until this year.

1945: McCarter served as president for 36 years and as chairman of the board for an additional 6 years, until his retirement this year.

1948: The parent Public Service Corporation was dissolved and PSE&G became an independent company, with Public Service Coordinated Transport as a subsidiary.

1971: Public Service Coordinated Transport became Transport of New Jersey, largely an operator of buses owned by the state and leased to the company.

1972: PSE&G established a subsidiary Energy Development Corp. (EDC) to engage in gas exploration and development.

1974: The first plant, owned jointly with Philadelphia Electric Company, was put in service at Peach Bottom, Pennsylvania and begins operation.

1977: Another nuclear plant began operation at Salem, New Jersey, and a third went online at Hope Creek, New Jersey, both in the southern part of the state.

1978: PSE&G operated 13 generating plants with a capacity of 9 million kilowatts and achieved electric revenues of more than $1.5 billion.

1979: Legislation was passed to permit New Jersey to acquire and operate private bus lines, and PSE&G negotiated the sale of its transport subsidiary to the state.

1980: The Company’s involvement in transportation ended when PSE&G sold its transportation system to the State of New Jersey.

1985: PSE&G reorganized its corporate structure by creating a new company called the Public Service Enterprise Group to serve as the holding company for PSE&G, the Public Service Enterprise Group became the owner of PSE&G.

1988: The firm was also criticized this year because of below average performance of its Salem and Hope Creek facilities.

1989: The company was required to pay customers a $32 million rebate as compensation for the Peach Bottom shutdown. Public Service Enterprise Group establishes Enterprise Diversified Holdings Inc. (now PSEG Energy Holdings) to begin the consolidation of unregulated businesses.

1990: The company's generating capability was 10.1 million kilowatts, and electric revenues were $3.3 billion.

1993: Ferland stated in a letter to PSEG shareholders, "We, like the telecommunications and airline industries before us, are quickly moving from a relatively safe, secure, and protected field of operations to one of full-bore competition with little time for adjustment in between."

1994: A PSEG subsidiary signs a joint venture contract to build, own, and operate a power plant in China.

1997: In response to increased competition, PSEG formed Energis Resources to market energy products and services to business customers.

1999: PSEG and California-based Sempra Energy announced plans to purchase 90 percent of Chilquinta Energia S.A., a Chilean-based energy firm.

2000: Public Service Enterprise Group split the PSE&G subsidiary's unregulated national power generation assets to form PSEG Power, while the PSE&G subsidiary continued operating in New Jersey as a regulated gas and electric delivery company.

2001: PSEG had successfully transformed itself from a traditional utility to a global energy firm.

2009: PSEG began installing solar panels on 200,000 utility poles in its service area in a project costing $773 million, the largest such project in the world.

2013: PSEG was ranked 276 on the Fortune 500 list for 2013. The Solar 4 All project increased the capacity for renewable energy in New Jersey and was completed this year.