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