Author: sHq_LoGiNz

Originally published on PSEG NewsRoom

NEWARK, N.J., July 8, 2025 /3BL/ – Public Service Electric and Gas Company (PSE&G) has announced the New Jersey Board of Public Utilities (BPU) approved PSE&G’s proposal to provide all residential customers with a temporary credit that will offer relief on their summer electric bills. The credit will combat the significant electric supply price increase that is the result of PJM’s capacity price auction. PSE&G’s relief measures, inclusive of a Summer Moratorium – an expansion of the Winter Termination Program and waiving reconnection fees – are part of PSE&G’s proactive Summer Relief Initiative designed to protect residential customers from higher costs this summer.

While addressing the immediate energy supply price concerns of our customers, PSE&G is also advocating for long-term solutions to address the power supply-demand imbalance with needed new energy generation.

For the months of July and August 2025, PSE&G will apply a credit of $30, including taxes, to each residential electric customer’s monthly bill. During this summer deferral period, PSE&G will continue to pay the electricity suppliers the full cost of the generation in the new electric supply rate. To recover the cost of the electricity provided and payments made to electric suppliers, PSE&G will collect from each residential electric customer’s monthly bill $10 for the months of September 2025 through February 2026.  As previously announced, PSE&G has decided to forego recovery of any carrying costs (i.e., interest) for the credit to customers.

As part of the agreement, the BPU also approved PSE&G’s proactive proposal to waive all residential reconnection fees during the period from July 1, through September 30, 2025.

The Summer Moratorium, an expansion of the Winter Termination Program, begins July 1, 2025, providing utility shut-off protection to qualified individuals and will continue through the summer months until September 30, 2025.

“While there is broad recognition that utilities are not the cause of these price increases, PSE&G is pleased to work with Governor Murphy, the legislature and the BPU to develop measures to blunt the immediate impact of higher costs” said Kim Hanemann, president and COO, PSE&G. “As we deliver immediate support for customers, it is also time to turn our collective attention to delivering long-term solutions to address the power generation supply imbalance in the state. Our state needs a strategic, thoughtful integrated system plan to meet future demands. We remain committed to collaborating with policymakers on long-term solutions.”

PSE&G is proud of its track record of high customer satisfaction while maintaining customer affordability and award-winning reliable service. PSE&G combined electric and gas bills are nearly equivalent to their 2008 levels when adjusted for inflation.

Long-term Solutions Needed

In addition to immediate customer support, the focus must be on long-term solutions for the state’s power generation supply imbalance.

For several years, PSE&G has been warning about the supply and demand imbalance in the region. It is important to address the need to generate our own energy in-state with a goal to ultimately bring down energy costs for residents and businesses.

We remain committed to working with policymakers regarding long-term solutions to these significant rate increases, including advancing policies that encourage the development of new power generation in New Jersey.

Understanding the Impact of Summer Heat on Bills

The amount of electricity needed to cool your house to 75 degrees when it’s 90 degrees outside is 125% higher than when it’s 85 degrees outside. Increased electric usage in summer months often coincides with high heat, frequently leading to increased electric usage as customers run their air conditioners more often.

Regardless of electric rates, customers can take steps now to understand and manage their energy usage. Customers can find valuable energy efficiency information at pseg.com/energyefficiency and bizsave.pseg.com.

PSE&G Customer Assistance

PSE&G works directly with its customers, and with nonprofits and community organizations who work with utility customers, to inform them about energy assistance options.

PSE&G provides information regarding affordability options that customers may qualify for based on certain criteria like income eligibility (i.e., the Low Income Home Energy Assistance Program [LIHEAP], or SHARES for customers who may be experiencing a temporary financial crisis).

There are also additional bill payment tools to help customers manage costs, including PSE&G’s Equal Payment Plan and Deferred Payment Arrangements. PSE&G’s Equal Payment Plan estimates annual energy costs, and divides bills into 12 equal monthly payments, which allows customers to levelize their monthly spend expectations. Deferred Payment Arrangements allow customers to pay a portion of past-due balances over an agreed-upon period.

Customers can find valuable energy assistance information at pseg.com/saveenergy.

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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 23 consecutive years. For the third consecutive year, PSE&G is the recipient of the ENERGY STAR Partner of the Year award in the Energy Efficiency Program Delivery category. In addition, in 2024 J.D. Power named PSE&G number one in customer satisfaction with residential electric service and gas 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 focused on a clean energy future and has been 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.

CONTACT:

Media Relations: 973-430-PSEG (7734)
dl-ent-pseg.communications@pseg.com

PNC has long been an engaged and responsible company rooted in the belief that meaningful relationships are built and strengthened through honest and transparent dialogue and action. Our guiding principle across all our businesses is to do right by our customers, employees, shareholders and the communities we serve.

In service of this commitment to our stakeholders, this past year we once again conducted extensive analysis of our corporate responsibility priorities, which provided valuable insight into how we can more positively impact our business operations, society and the environment. Additionally, we engaged with approximately 75 percent of our top 100 active shareholders, discussing topics like financial and operational performance, and corporate responsibility matters in the interest of further refining our approach. We appreciate open dialogue and engagement with all our stakeholders. We believe it’s good business and it makes us not just a better bank, but a better neighbor.

In the following pages we will share our progress over this past year and our strategies for the opportunities that lie ahead. In 2024, we mobilized $6.11 billion in environmental financing, cumulatively bringing us very close to achieving our $30 billion environmental finance pledge, which we expect will be satisfied on schedule in 2025. And to enhance our ability to support our clients’ evolving financing needs, we launched the PNC Climate Solutions Partner program. This skill-building initiative educates PNC employees on our Climate Action Strategy and enables front-line employees to better support our customers as they develop and work through their own unique climate goals and plans. 

We embrace our role in providing access to capital and enhancing financial mobility throughout our footprint communities. In 2024, we deployed $28.5 billion of the $88 billion committed through our four-year Community Benefits Plan, bringing our total since 2022 to $85.5 billion.* We are excited about the opportunity to continue this approach for the balance of 2025 to help meet community needs and boost economic empowerment. 

We continue to meet our customers where they are, deploying our mobile branches on more than 3,100 visits, traveling over 89,000 miles in 2024 and serving more than 22,000 individuals. Our community relationships are vital to these efforts, as we coordinated with more than 170 community organizations this past year to schedule deployments. 

Central to our efforts to bolster our communities is our signature philanthropic focus, PNC Grow Up Great® , which celebrated 20 years in 2024. This $500 million early childhood education initiative helps prepare children from birth to age five for success in school and life. Since the program’s inception in 2004, PNC Grow Up Great has provided $270 million in grants to organizations championing high-quality early childhood education, and our employees have volunteered more than 1.2 million hours in support. We’re proud of the longevity of this work and the impact it’s had on the more than 10 million children we’ve reached to date through grants and educational programs. 

We serve a diverse group of individuals, families and businesses across the country. To do so effectively, and win in the marketplace, we must recruit and retain talented employees with the relevant experiences, skills and perspectives to best support them. This is a business imperative, and we work every day to foster an accessible and inclusive workplace where all employees — and customers — can feel welcomed, valued and respected. To support this imperative, consistent with applicable laws, we do not discriminate against any employee, potential or current client, supplier, or any other stakeholder based on race; color; ethnicity; religion or religious views; national origin; gender; sexual orientation; gender identity; military status; disability; marital or familial status; political opinions, speech or affiliation; or age.

Our employees drive PNC’s success, and we’re committed to employee development and well-being. One way we demonstrate that commitment is through our partnership with Guild, which began in 2022. Guild’s partnership with PNC offers our employees the opportunity to earn tuition-free associate and bachelor’s degrees, along with professional certificates and college prep courses. More than 9,500 employees have enrolled in programs through Guild over the last two years. We are pleased to support the continued professional development of our employees, which we believe will ultimately enhance the strength of our company. 

In fact, none of our achievements would be possible without the talents and commitments of my 55,000-plus colleagues who are focused on delivering for our stakeholders every day. I want to thank them for all their contributions that make PNC a dependable neighbor, company and employer. I know that collectively we’ll continue to focus on running our business reliably, with integrity, and in service of all our stakeholders.

RICHARD K. BYNUM
Chief Corporate Responsibility Officer

View the full 2024 Corporate Responsibility Report. 

As previously seen on the CSRHub blog.

CSRHub is excited to announce a new partnership with CSR Talent Group, a trusted network of experienced ESG and sustainability professionals who provide on-demand support to purpose-driven organizations.

Through this collaboration, CSR Talent Group consultants now have access to CSRHub’s comprehensive ESG data platform—covering over 58,000 companies and fueled by more than 1,000 data sources. These tools support critical work in benchmarking sustainability performance, preparing for regulations like the CSRD, and evaluating supply chain risk.

Together, we aim to empower organizations with the transparent, actionable data they need to improve ESG outcomes and drive long-term impact.

We’re looking forward to building on this partnership with shared resources, use case applications, and more in the months ahead.

About CSRHub

CSRHub offers the most comprehensive global set of expert consensus sustainability ratings, information, and tools. Clients use CSRHub’s decisive data platform for global benchmarking, supply and value chain risk assessment and compliance readiness solutions. Founded in 2007, CSRHub covers nearly 60,000 public and private companies, and provides ESG performance scores on 42,000 companies from 134 industries in 158 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 1,000 sources to produce a strong consensus signal on corporate sustainability performance.

Interested in learning more about CSRHub?

Recently, we had the pleasure of hosting our annual EHSxRetail event that brought together clients to discuss critical topics in environmental, health, and safety (EHS) within the retail industry. The EHSxRetail peer industry roundtable event is a unique opportunity for education, learning, benchmarking, and networking. Here are some key topics and takeaways from this year’s event.

Stress Testing EHS Programs 

In the current geopolitical climate, many retailers are finding it challenging to balance lean operational budgets with proactive program improvement. Traditional tools like incident reporting metrics and audits can be lagging indicators and difficult to implement across numerous stores. Some retailers have turned to surveys to anticipate potential issues, which has the added benefit of engaging employees and making them feel heard. Others have found ways to integrate EHS directly into business operations.

Occupational Health and Psychosocial Safety 

One of the major topics discussed was occupational health and psychosocial safety. With new regulatory requirements driving a stronger emphasis on mental health, the conversation highlighted the challenges of defining terms like “high workload” and the division of responsibilities between EHS and HR. Some retailers have implemented mental health and wellness programs, including mental health first aid, discounted gym memberships, and incentives for healthy activities, with varying degrees of success. Exploring multiple options to find the best fit for your organization is crucial.

Workplace Violence Implementation Challenges 

Workplace violence is a significant concern in retail, where interactions with aggressive customers are becoming routine, and crisis events are becoming more common. The discussion around this sensitive topic highlighted the implementation challenges of workplace violence programs. Effective training is crucial for ensuring employee safety. However, desktop training is not always enough to override our natural fight-or-flight response and conducting practice drills can be too intense.

While only California and New York currently require workplace violence programs, other states are actively working on addressing this issue.

Human and Organizational Performance (HOP) 

The event also shed light on the success stories of Human and Organizational Performance (HOP) initiatives. HOP is a risk-based operating philosophy that recognizes human error as part of the human condition and emphasizes system-level solutions. Some attendees have seen significant success at their companies by implementing components of HOP into their company’s existing safety program. One of the key elements is to ask more questions and dig deeper into the root cause, with resources like the culpability matrix available to support this philosophy.

Conclusion 

Attending the EHSxRetail peer industry roundtable event was an enriching experience. The event highlighted the importance of addressing both physical and mental health in the workplace, the challenges of implementing effective workplace violence programs, and the benefits of adopting HOP principles. As we continue to navigate the complex world of EHS in retail, we appreciate the unique perspectives shared by all the EHSxRetail participants and look forward to continuing the conversation.

Learn more about EHSxRetail and stay tuned for future events here!

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Last week, 70 employees at Yum! Brands, KFC US and Henny Penny teamed up with Blessings in a Backpack Louisville Chapter to fill 1,500 meals for local Louisville, Kentucky students — helping ensure kids have food for the weekend. 

More than 64,000 students in Louisville face food insecurity. Blessings in a Backpack provides food for school-aged children who might otherwise go hungry when school meals aren’t available. This effort helps ensure kids have the nourishment they need to thrive — even when school is out. Huge thanks to everyone who rolled up their sleeves to make a difference!