How many billion of dollars does it take to secure the infrastructure of an energy company against the “known unknowns” of historic storms and other forms of interruption and just as importantly, who should pay?

The Public Service Enterprise Group company of New Jersey (PSEG) had an opportunity to answer that question in real time in the weeks after Hurricane Sandy, a storm that impacted facilities that had never been hit by storms in 50 years of operation and knocked out power to a remarkable 90% of the company’s customers. Since then, the firm knows that “business as usual is not enough,” PSEG CEO Ralph Izzo told the AGRION Energy & Sustainability Summit in a wide-ranging speech opening the second day of the conference in New York City this week. Keep reading →