PSEG (PEG) Enhances Nuclear Fleet to Meet Surging Data Center Energy Demand in New Jersey

We recently published 11 Most Profitable Utility Stocks to Buy According to Hedge Funds. Public Service Enterprise Group Incorporated (NYSE:PEG) is one of these profitable utility stocks.

Public Service Enterprise Group Incorporated (NYSE:PEG), New Jersey’s largest electric and gas utility, is leveraging its 3,758 MW nuclear portfolio to meet rising demand from the region’s fast-growing data center sector. In Q2 2025, large-load interconnection requests, almost entirely from data centers, surged 47% in one quarter, reaching 9.4 GW. While only 10%–20% of these projects are expected to be realized, they represent substantial long-term demand for carbon-free, reliable power, strengthening the case for nuclear plant investment and upgrades.

To support this demand, Public Service Enterprise Group Incorporated (NYSE:PEG) is enhancing its nuclear operations, including a major refueling and upgrade at the Hope Creek plant to extend fuel cycles and improve flexibility. These initiatives align with New Jersey’s clean energy targets while positioning PSEG as a key supplier for hyperscale data centers seeking long-term, low-carbon energy contracts.

PSEG (PEG) Enhances Nuclear Fleet to Meet Surging Data Center Energy Demand in New Jersey

Public Service Enterprise Group Incorporated (NYSE:PEG) is also advancing grid modernization and clean energy programs, reaffirming $21–24 billion in capital spending through 2029. Its energy efficiency programs have already generated $720 million in annual customer savings and $740 million in rebates.

While we acknowledge the risk and potential of PEG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PEG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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