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PSEG: No Acquisitions Fit Retail Strategy; Focusing On Organic Growth For Retail Business

April 30, 2018

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Public Service Enterprise Group discussed its competitive retail energy business during its quarterly earnings conference call, with Ralph Izzo, chairman, president and chief executive officer of Public Service Enterprise Group, stating that the company is focused on organic retail growth after determining that no potential acquisition fit with the company's retail strategy

"We're still at work [on retail], it is exclusively an organic effort," Izzo said

"We did look at the potential for acquisitions, but given the purely defensive nature of this effort, and our desire for it to basically help us improve our margins based on our own assets, there's been no book that kind of fit that to a high enough degree of accuracy, that the transaction costs wouldn't have swamped the benefits, because whatever book we bought, we'd have to sell off a piece of it, and that would be suboptimal," Izzo said

"So we're continuing to pursue an organic growth strategy there," Izzo said

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