PSEG

Author: Kaitlyn Short

The Public Service Enterprise Group (PSEG) was founded in 1903 and is headquartered in Newark, New Jersey. It was originally known as the Public Service Corporation of New Jersey but later became PSEG. It is a publicly traded diversified energy company and is New Jersey's oldest and largest investor owned utility. The company provides regulated gas and electricity services to the state of New Jersey. The company currently employs over 13,000 people and consists of a number of subsidiaries.

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The Good

• Rebate programs
• Minimal service charges
• Forms of payment

Rebate Programs

In an effort to help their customers manage energy costs and also protect the environment, PSEG has created a couple of rebate programs. This will not only save money, but create high-efficiency energy platforms. Upon purchasing and installing a "high-efficiency" piece of heating or cooling equipment, customers can take advantage of the following rebate programs:

• Cool Advantage Program: offers rebates for high-efficiency central air conditioners and electric heat pumps.
• Warm Advantage Program: offers rebates for high-efficiency gas water heaters, furnaces, and boilers.

Customers will receive money back for purchasing these types of equipment and will also save money on monthly energy bills as they conserve natural resources.

Minimal Service Charges

Almost all energy providers require some sort of monthly service charge. This charge is in addition to what you will need to pay for your energy or gas usage. These monthly charges range from virtually nothing to upwards of almost fifteen dollars each pay period. However, PSEG charges a minimal $2.43 for monthly service and maintenance. Additionally, if a customer pays their bill late, they will only be charged 1.146% of their overall bill. This is also a competitive and relatively low service charge for a late payment.

Forms of Payment

PSEG makes it easy for their customers to stay on top of their utility bills. They offer four different payment platforms to suit all sorts of financial and budgeting needs. Customers will be able to pay using one of the following methods: electronic check, credit/debit card, bank account, and a regular paper check. Some service charges may apply for certain forms of payment. Customers can pay online, over the phone, or by mail.

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The Bad

• Starting service
• Undisclosed rates
• Contract required

Starting Service

Typically, utility providers will allow prospective customers to get services started entirely online. Customers usually have to provide some basic personal information, but then the electricity or gas will subsequently be turned on. However, PSEG requires all of those considering their services to call and speak with a customer service representative prior to getting started. Customers can also visit an actual location serviced by PSEG if desired. To contact customer service, call 1-800-436-7734. While the PSEG website may answer some basic questions, it does not provide you with the ability to get your utilities turned on.

Undisclosed Rates

There is not any information available regarding fixed or variable rates charged by PSEG. Customers will not be able to gauge how much electricity or gas services will end up costing them until they consult with a PSEG representative and get started. It does make it difficult to compare rates with other providers since this information is not made known.

Contract Required

Like many energy and gas providers, a contract is required by PSEG upon signing up to use their service. Each contract is a minimum of twelve months. Ironically enough, the maximum contract length is also only twelve months, even for people who play on using the service for longer than a year. There is no public information about how much it would cost to terminate the contract, but customers can expect some sort of termination fee.

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The Bottom Line

PSEG works to find more affordable ways to provide clean and effective sources of energy. They make it easy for customers to stay on top of their utility bill with an online account management system. That being said, PSEG only services New Jersey residents, which drastically reduces the number of households that can use their products. For those who live in New Jersey, PSEG does seem like a good way to cut costs and utilize efficient energy solutions.