Dive Summary:

• New Jersey’s PSE&G proposed $446 million to launch new solar projects including 42 megawatts of solar farms and 97.5 megawatts of sun-powered systems.
• PSE&G’s parent company, the Public Service Enterprise Group (PSEG), saw a dip in first quarter net income to $320 million, compared to earning $493 million during last year’s Q1.
• The utility’s operating income declined this quarter, in part due to lingering repair costs after Hurricane Sandy.

From the article:
“PSE&G, which is New Jersey's largest utility with 2.1 million electric customers, reported operating income of $179 million, or 35 cents a share for the first quarter of the year. That was down 9 percent from $197 million, or 39 cents a share last year.