PSE&G Sandy power restoration cost of $300M - Los Angeles News | FOX 11 LA KTTV

PSE&G Sandy power restoration cost of $300M

Posted: Updated:

NEW YORK (AP) -- Public Service Electric and Gas is estimating the cost of power restoration after Superstorm Sandy and a subsequent Nor'easter at between $250 million and $300 million.

PSE&G, New Jersey's largest utility, says the storm left 1.7 million of its electric customers without power during the course of the storm -- the most in the utility's history.

The storm also caused severe damage to its infrastructure. The Newark company, a unit of Public Service Enterprise Group, says its crews are still working to repair its system.

The utility says the estimate does not include the cost of beefing up its infrastructure to better protect it from future storms.

PSE&G continues to forecast operating earnings of $2.25 to $2.50 per share for the full year. FactSet says analysts expect $2.39.

  • New Jersey NewsNew Jersey NewsMore>>

  • Firefighters rescue crane operator

    Firefighters rescue crane operator

    Wednesday, July 30 2014 6:12 AM EDT2014-07-30 10:12:48 GMT
    Firefighters in northern New Jersey rescued an Iowa man when his bucket crane buckled. Josh Lovell of Melcher, Iowa, was working on lights when the crane broke Tuesday.
    Firefighters in northern New Jersey rescued an Iowa man when his bucket crane buckled. Josh Lovell of Melcher, Iowa, was working on lights when the crane broke Tuesday.

  • Man convicted of murder in fatal sauce pan beating

    Man convicted of murder in fatal sauce pan beating

    Tuesday, July 29 2014 4:48 PM EDT2014-07-29 20:48:41 GMT
    A man who claimed he was high on drugs and hearing voices when he fatally beat an elderly man with a sauce pan has been found guilty of felony murder.
    A New Jersey man who said he was high on drugs and hearing voices when he fatally beat an elderly man with a sauce pan has been convicted of murder.
  • Mosquito-borne virus sickens 20 in NJ

    West Nile found in New Jersey mosquitoes

    Tuesday, July 29 2014 1:09 PM EDT2014-07-29 17:09:31 GMT
    Twenty New Jersey residents have tested positive for a mosquito-borne virus that has spread through the Caribbean. The state Health Department says the residents who came down with chikungunya had returned to New Jersey from the Caribbean. Chikungunya causes a high fever and severe pain in the joints. It is rarely fatal.
    Twenty New Jersey residents have tested positive for a mosquito-borne virus that has spread through the Caribbean. The state Health Department says the residents who came down with chikungunya had returned to New Jersey from the Caribbean. Chikungunya causes a high fever and severe pain in the joints. It is rarely fatal.
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices