PSE&G Sandy power restoration cost of $300M - DC News FOX 5 DC WTTG

PSE&G Sandy power restoration cost of $300M

Posted: Updated:

NEW YORK (AP) -- Public Service Electric and Gas is estimating the cost of power restoration after Superstorm Sandy and a subsequent Nor'easter at between $250 million and $300 million.

PSE&G, New Jersey's largest utility, says the storm left 1.7 million of its electric customers without power during the course of the storm -- the most in the utility's history.

The storm also caused severe damage to its infrastructure. The Newark company, a unit of Public Service Enterprise Group, says its crews are still working to repair its system.

The utility says the estimate does not include the cost of beefing up its infrastructure to better protect it from future storms.

PSE&G continues to forecast operating earnings of $2.25 to $2.50 per share for the full year. FactSet says analysts expect $2.39.

  • New Jersey NewsNew Jersey NewsMore>>

  • Wildlife volunteer pleads in deaths of 300 animals

    Wildlife volunteer pleads in deaths of 300 animals

    A longtime volunteer with a local animal protection organization in New Jersey has pleaded guilty to animal cruelty charges. Authorities say they found more than 300 dead birds and animals in the Little Silver home of the volunteer, 56-year-old Gretchen Rell.
    A longtime volunteer with a local animal protection organization in New Jersey has pleaded guilty to animal cruelty charges. Authorities say they found more than 300 dead birds and animals in the Little Silver home of the volunteer, 56-year-old Gretchen Rell.
  • Newark, Jersey City, Paterson

    3 New Jersey mayors announce joint anti-crime plan

    3 New Jersey mayors announce joint anti-crime plan

    Monday, July 28 2014 6:28 PM EDT2014-07-28 22:28:17 GMT

    The mayors of New Jersey's three largest urban areas said Monday they are looking at inter-city collaboration as a way to stem the flow of bloodshed on their streets. Newark Mayor Ras Baraka, Jersey City Mayor Steven Fulop and Paterson Mayor Jose Torres spoke mainly in generalities about the partnership, but said specifics would be hammered out at a mayors' roundtable that will convene in September.

    The mayors of New Jersey's three largest urban areas said Monday they are looking at inter-city collaboration as a way to stem the flow of bloodshed on their streets. Newark Mayor Ras Baraka, Jersey City Mayor Steven Fulop and Paterson Mayor Jose Torres spoke mainly in generalities about the partnership, but said specifics would be hammered out at a mayors' roundtable that will convene in September.


  • Massive brawl at NJ wedding

    Massive brawl at NJ wedding

    Monday, July 28 2014 2:24 PM EDT2014-07-28 18:24:34 GMT
    As many as 300 people became involved in a massive brawl at a New Jersey wedding hall that ended with two arrests on Sunday night.  Middletown police say that the fight broke out at about 10:30 p.m. at the Jacques Reception Hall on Palmer Ave. in Middletown.
    As many as 300 people became involved in a massive brawl at a New Jersey wedding hall that ended with two arrests on Sunday night.  Middletown police say that the fight broke out at about 10:30 p.m. at the Jacques Reception Hall on Palmer Ave. in Middletown.
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices