Enterprise Risk Management in PSEG: An Overview

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The Public Service Enterprise Group, Inc. of today began its life as Public Service Corporation in 1903, by the amalgamation of more than 400 gas, electric and transportation companies in New Jersey. The then Attorney General of New Jersey Thomas McCarter was named the Corporation's first president (his brother Robert McCarter succeeded him as the Attorney General) and held he the position until 1939. The McCarter Highway in Downtown Newark is named after him.
In the course of business, Public Service consolidated its gas and electric interests into Public Service Electric and Gas, and its transportation interests into Public Service Coordinated Transport (later Transport of New Jersey), internally. However due to concerns about the concentration of economic power of the utilities companies resulted in federal and state legislative bodies to take action and break them up. In 1943, Public Service once again became a stand-alone company, and was renamed Public Service Electric and Gas Company (PSE&G) in 1948.
The Company's involvement in transportation ended in 1980, when PSE&G sold its transportation system to the State of New Jersey. (In 1934, Public Service engineers designed the first diesel-electric bus. And in 1937 went on to operate the first diesel-electric bus fleet (of 27 vehicles) in the world.)
In 1985, The Board of Directors created Public Service Enterprise Group (PSEG) as a holding company. In connection with the restructuring of the industry in New Jersey, in 2000, the generation assets of PSE&G were transferred to PSEG Power, an electric generation and wholesale energy trading company.

Enterprise Risk Management in PSEG: An Overview
Public Service Enterprise Group and its subsidiaries (PSEG) maintain and execute ...

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...mitigating risk through supply contracts, and o Ensuring availability of supply of materials and services to meet operation’s needs.

Business Interruption Management (BIM)
Outsourcing PSEG Business to Companies outside the United States
Miscellaneous (Non-Purchase Order) Payment Request
Purchasing Card Practices and Procedures
Procurement
Staff Augmentation Management
Security, Mission, Authority and Responsibility
Sabotage Recognition, Response and Reporting
Security over Financial Information
Enterprise Cyber Security Practice
Identity Theft Program
Standards of Integrity
Business Conduct Compliance Program
Fraud Detection and Prevention Program
PSEG Enterprise Reporting Incoming/Outgoing Guarantee Process
Transaction Review
Financial Risk Management Practice
PSEG Delegation of Authority for Company Transactions
PSEG Credit Risk Management Practice

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