PSE&G Energy Efficiency Programs Deliver More Than $900 Million in Annual Utility Bill Savings for New Jersey Customers
MWN-AI** Summary
PSE&G's Energy Efficiency Programs have proven to be a significant asset to New Jersey residents, delivering annual utility bill savings exceeding $900 million for approximately 480,000 participating customers. This initiative, part of the company’s Clean Energy Future-Energy Efficiency (CEF-EE) framework, commenced in October 2020 and has effectively provided customers with diverse energy-saving opportunities.
The programs encompass a range of services, including energy assessments, rebates for HVAC and appliances, and innovative products available through the PSE&G Marketplace. Highlights from the program report include over 105,000 completed home energy assessments, 350,000 smart thermostats sold, and nearly 150,000 rebates for energy-efficient appliances. Furthermore, PSE&G has disbursed an impressive $940 million in rebates, significantly alleviating the initial costs for customers looking to upgrade to energy-efficient technologies.
Business customers also reap the benefits of these programs, with around 20,000 businesses implementing over 32,000 energy-saving projects. Notably, small businesses participating in the Direct Install Program have saved nearly $25 million annually. Energy efficiency projects, such as those at St. Joseph's Health facilities, underscore the initiative's importance in reducing operational costs and enhancing service delivery.
Overall, these efforts have resulted in significant environmental benefits, with an annual achievement of approximately 3.1 million megawatt hours of electric savings and around 80 million therms of natural gas saved. This translates to a reduction of about 2.3 million tons of carbon emissions annually. PSE&G's commitment to energy efficiency not only supports customer cost management but also contributes to workforce development, positioning them as a trusted energy advisor for New Jersey residents and businesses. For more information, customers can visit PSE&G's dedicated energy efficiency websites.
MWN-AI** Analysis
The recent announcement from Public Service Electric & Gas Company (PSE&G) showcasing over $900 million in annual utility bill savings for New Jersey customers through its energy efficiency programs is a noteworthy development that could have far-reaching implications for both consumers and investors. The program, which has garnered participation from approximately 480,000 residents and businesses, reflects a robust commitment to sustainability while also addressing the increasing energy demands in the Northeast.
For investors, PSEG's strategic focus on energy efficiency highlights a significant trend in utility companies transitioning towards cleaner energy solutions. PSEG’s sustained investment in energy-saving initiatives not only positions the company favorably amidst regulatory changes aiming for lower emissions but also provides a stable revenue base from rebates and energy services. The company's ability to achieve substantial operational savings translates to improved customer satisfaction and loyalty, evidenced by recent recognition in reliability and customer satisfaction metrics.
From a market perspective, there is a dual benefit in investing in companies like PSEG that are proactive in their energy service offerings. Firstly, consumers are likely to experience lower operational costs as businesses and households adapt to energy-efficient solutions, ultimately enhancing their discretionary spending. Moreover, the emphasis on energy efficiency programs provides a buffer against rising energy costs, particularly in a region facing growing electricity demand.
As New Jersey continues to push for aggressive climate goals, PSEG stands as a model utility. The integration of clean energy initiatives contributes to job growth, evidenced by the placement of over 7,300 individuals in clean energy careers through its Clean Energy Jobs Program.
In summary, PSEG's ongoing energy efficiency programs not only elevate the company's market positioning but also contribute to environmental stewardship and economic growth, making it an attractive consideration for environmentally-conscious investors looking to add value-driven stocks to their portfolios.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PSE&G Energy Efficiency Programs Deliver More Than $900 Million in Annual Utility Bill Savings for New Jersey Customers
PR Newswire
Participation from approximately 480,000 customers continues to deliver measurable energy savings
NEWARK, N.J., Jan. 27, 2026 /PRNewswire/ -- PSE&G's latest Clean Energy Future-Energy Efficiency (CEF-EE) report demonstrates continued savings for customers across New Jersey. From program implementation beginning in October 2020 through September 2025, nearly 480,000 customers participated in PSE&G's energy efficiency programs. Collectively, that participation is delivering more than $900 million in annual customer savingsi.
These savings reflect a broad range of energy efficiency offerings designed to help customers use less energy and better manage utility costs. Offerings include energy assessments, appliance and HVAC rebates, lighting solutions, equipment upgrades and energy efficiency products available through the PSE&G Marketplace, giving customers multiple ways to take action based on their needs and preferences.
Additional program highlights include:
- More than 105,000 home energy assessments completed
- Nearly 350,000 smart thermostats sold via PSE&G Marketplace
- Approximately 150,000 rebates claimed for upgrades to energy-efficient appliances
- Approximately $940 million in rebatesii delivered to help offset the cost of energy-saving upgrades and products
- More than 30,000 appliances recycled through the PSE&G recycling program
Business Customers Benefit
Energy efficiency plays an important role for PSE&G's business customers across New Jersey, serving organizations of all sizes. We offer a range of solutions that support businesses in improving operational efficiency and managing energy use and utility costs. These programs also provide incentives that help offset the cost of energy efficiency upgrades and give businesses greater flexibility to reinvest resources into other operational priorities.
Approximately 20,000 businesses have implemented more than 32,000 projects to help improve energy efficiency and manage energy use as part of our energy efficiency programs. Among those small businesses, approximately 2,000 have participated through our Direct Install Programiii, resulting in nearly $25 million in annual utility bill savingsiv to those customers.
One example is St. Joseph's Health, which is undertaking energy efficiency projects at its facilities in Paterson and Wayne, New Jersey. Supported by PSE&G incentives, these projects are expected to help reduce energy use and manage operating costs over time. "Every dollar we're not spending on energy is a dollar we can put back into patient care," said Scott Reilly, director of maintenance and engineering at St. Joseph's Health.
Program Impact and Affordability
Across both residential and business customers, participation in PSE&G's energy efficiency programs has also contributed to energy and environmental outcomes. To date, customers have achieved approximately 3.1 million megawatt hours of electric savings annually, enough to power about 453,000 homesv each year. Natural gas savings are approximately 80 million therms per year. Combined, these efforts are helping to avoid approximately 2.3 million tons of carbon emissions avoided annually, equivalent to removing more than 500,000 gasoline-powered cars from the road for one yearvi.
As affordable energy remains a concern, growing regional demand for electricity will continue to put pressure on the energy system. PSE&G stands ready to work with the state on near- and long-term solutions, including energy efficiency, as well as additional power generation and transmission and distribution solutions to support reliability and help maintain stable energy costs.
"Energy efficiency is one of the tools we use to help customers reduce energy use and manage their utility costs," said Lauren Thomas, vice president of Clean Energy Solutions - Customer Solutions at PSE&G. "Maintaining affordability and enhancing the customer experience remain central to this work. The investments we make through these programs largely flow back into New Jersey, supporting local businesses, contractors and trade allies while delivering value for customers."
In addition to customer and business impacts, energy efficiency investments also support workforce development across New Jersey. Through PSE&G's sponsored Clean Energy Jobs Program these efforts have helped place more than 7,300 individuals into clean energy careersvii, supporting the skilled workforce needed to deliver energy efficiency projects and serve customers across the state.
PSE&G aims to be a trusted energy advisor, providing customers with resources and tools to help better manage utility costs and make more informed decisions about energy use. For more information on PSE&G's energy efficiency programs, visit homeenergy.pseg.com for residential customers or bizenergy.pseg.com for business customers.
PSE&G
Public Service Electric & Gas Co. is New Jersey's oldest and largest gas and electric delivery public utility, as well as one of the nation's largest utilities. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 24 consecutive years. In 2025, for the fourth consecutive year, J.D. Power named PSE&G number one in customer satisfaction for residential electric service in the East among large utilities. PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG) (NYSE:PEG), a predominantly regulated infrastructure company named to the Dow Jones Sustainability Index for North America for 17 consecutive years (www.pseg.com).
Forward-Looking Statements
This release includes forward-looking statements, including but not limited to statements regarding anticipated or expected energy savings, cost saving and greenhouse gas emissions avoidance. There can be no assurance that such energy and costs savings and greenhouse gas emissions avoidance will be realized in the amounts described and / or in the timeframes anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to management but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Factors that may cause actual results to differ include, without limitation: the ability to implement our energy efficiency business strategy, and customer adoption of our energy efficiency offerings. All forward-looking statements made in this release are qualified by these cautionary statements and readers are cautioned not to place undue reliance on these forward-looking statements The forward-looking statements contained in this Report are intended to qualify for the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
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i Retail bill savings are based on rate class averages for residential and small commercial customers.
ii The figure reflects one-time rebates provided to help offset the upfront costs of energy-saving upgrades and products for residential and business customers. The rebate amount is not included in the annual customer savings.
iii The PSE&G Small Business Direct Install Program is designed to deliver comprehensive, cost-effective, energy efficiency equipment for eligible PSE&G business customers, with 12-month individual facility electricity average peak demand usage of less than 300 kW peak demand or less than 40,000 therms.
iv Retail bill savings are based on rate class averages for small commercial customers.
v Based on the median annual consumption of PSE&G's residential customers.
vi Vehicle equivalency is based on EPA conversion factors.
vii The Clean Energy Jobs Program placement numbers are reported through December 2025 to reflect the most current available data.
CONTACT:
Media Relations
Anide Eustache
862-370-5500
anide.eustache@pseg.com
SOURCE Public Service Electric & Gas Company (PSE&G)
FAQ**
How does Public Service Enterprise Group Incorporated (PEG) plan to maintain and potentially increase the $900 million in annual utility bill savings for New Jersey customers through its energy efficiency programs over the next few years?
What specific strategies does Public Service Enterprise Group Incorporated (PEG) employ to encourage more businesses to participate in their energy efficiency programs and achieve measurable energy savings?
Can Public Service Enterprise Group Incorporated (PEG) provide insights into how the $940 million in rebates has impacted customer participation in their energy efficiency initiatives since 2020?
What role does Public Service Enterprise Group Incorporated (PEG) see for emerging technologies in further enhancing the effectiveness of its energy efficiency programs and achieving sustainability goals in New Jersey?
**MWN-AI FAQ is based on asking OpenAI questions about Public Service Enterprise Group Incorporated (NYSE: PEG).
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