PSEG Chairman, President and CEO Ralph Izzo testified today before Congress and discussed with members of the House Energy and Commerce's Subcommittee on Energy and Environment the implications of proposals that would create an electric transmission superhighway.

Izzo expressed concern about masking the true cost of building transmission for renewables through broad subsidization. He called for a market-based approach and a transparent process that allows assessment of the actual costs associated with delivering renewable energy from a remote region.

"Government should let market forces determine which technologies and which locations are most attractive for investment," Izzo said. "With these price signals in place, developers can compare the costs of renewable generation investments in different locations."

PSEG, located in New Jersey, has long supported policies that promote renewable generation, and is planning major investments in solar energy and offshore wind, as well as energy storage technology that will help make renewable energy more competitive.