Leadership New Jersey Wrap Up: Ralph Izzo of PSEG

Ralph is Chairman of the Board, President and Chief Executive Officer of Public Service Enterprise Group Incorporated. He spoke about environmental issues. Focused on CFL bulbs. Consumers are looking at the pricing of bulbs. PSEG just announced a new 400 megawatt power plant today, estimated $250-$300 million cost.

Higher “hurdle rate” for CFL bulbs. Need to correct the flaw in the marketplace. Need to make the customers into investors willing to pay more for the CFL bulb knowing that the savings are real over time.

Renewable energy sources are a key component of energy efficiency going forward, and clean power plant operations.

State will need a new nuclear power plant. Not proposing to do it right now, will take 10-12 years to get any electricity produced. It is carbon-free source of electricity. PSEG has a site it already owns for the plant.

Firm believers in NJ at PSEG, Ralph says.

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