Newark, N.J., March 27, 2012 — The following comment was offered from Public Service Enterprise Group chairman and CEO Ralph Izzo on the Environmental Protection Agency's proposed carbon pollution standards.
"While we would have preferred that Congress enact legislation limiting greenhouse gas emissions, the EPA took an important step today in addressing the significant environmental threat posed by climate change.
"The agency's action establishes a logical and modest standard for new electric power plants and provides the industry with much needed regulatory certainty. The EPA provides a framework for the industry to confront this problem in a cost effective manner.
"We understand that the EPA continues to evaluate regulatory options for already existing plants that may be affected by the Clean Air Act and we look forward to working with the agency to evaluate the best approaches for achieving meaningful greenhouse gas reductions in as flexible and economic manner as possible."
Public Service Enterprise Group is a publicly traded diversified energy company with annual revenues of more than $12 billion, and three principal subsidiaries: PSEG Power, Public Service Electric and Gas Co. (PSE&G) and PSEG Energy Holdings.