WASHINGTON (dpa-AFX) - Public Service Enterprise Group Inc (PEG) released a profit for fourth quarter that declined from last year.The company's profit came in at $431 million, or $0.85 per share.
Public Service Enterprise Group Inc is on track to sell its fossil-fired plants by the end of the year as it transitions into a mostly regulated utility operator and producer of 100% clean energy, the power company's chief executive said.
U.S. Energy Transition to Fuel Utility Dealmaking in 2021
Bloomberg 1/15/2021 Kiel Porter, Brian Eckhouse, Mark Chediak and Will Wade
(Bloomberg) Utility dealmaking is poised to pick up in 2021 as companies shake off a dour year that saw the least activity in more than a decade.
While energy powerhouses including NextEra Energy Inc. are on the hunt for their next big acquisition, others may look to shed their natural gas arms or other assets to simplify their businesses and meet climate goals.
“We believe 2021 will be a volatile and intense year, with incredible pace,” said George Bilicic, vice chairman of investment banking and the global head of Power, Energy & Infrastructure at Lazard Ltd. “It is completely possible to see a couple or more very large transactions, whether of a merger-of-equals type or otherwise.”