NEW YORK (AP) -- Public Service Electric and Gas is estimating the cost of power restoration after Superstorm Sandy and a subsequent Nor'easter at between $250 million and $300 million.
PSE&G, New Jersey's largest utility, says the storm left 1.7 million of its electric customers without power during the course of the storm -- the most in the utility's history.
The storm also caused severe damage to its infrastructure. The Newark company, a unit of Public Service Enterprise Group, says its crews are still working to repair its system.
The utility says the estimate does not include the cost of beefing up its infrastructure to better protect it from future storms.
PSE&G continues to forecast operating earnings of $2.25 to $2.50 per share for the full year. FactSet says analysts expect $2.39.
Friday, May 24 2013 11:12 AM EDT2013-05-24 15:12:21 GMT
AP photo
President Barack Obama plans to give the Jersey Shore a boost with a post-Memorial Day visit to showcase recovery efforts in the aftermath of Superstorm Sandy.
President Barack Obama plans to give the Jersey Shore a boost with a post-Memorial Day visit to showcase recovery efforts in the aftermath of Superstorm Sandy.
Friday, May 24 2013 10:55 AM EDT2013-05-24 14:55:44 GMT
The unofficial start of summer is being met with not so perfect beach weather. Many beach communities had been hoping for good weather this weekend following the destruction and rebuilding due to superstorm Sandy.
The unofficial start of summer is being met with not so perfect beach weather. Many beach communities had been hoping for good weather this weekend following the destruction and rebuilding due to superstorm Sandy.
Friday, May 24 2013 9:23 AM EDT2013-05-24 13:23:33 GMT
New Jersey's education commissioner has overturned the firing of a high school athletic director who was caught on camera putting dog waste on his ex-wife's car.
New Jersey's education commissioner has overturned the firing of a high school athletic director who was caught on camera putting dog waste on his ex-wife's car.
Thursday, May 23 2013 10:17 PM EDT2013-05-24 02:17:32 GMT
New Jersey officials have seized inventory and demanded records from 29 bars and restaurants, nearly half of them TGI Fridays, that they say sold low-quality liquor to patrons who thought they were buying premium brands.
New Jersey officials have seized inventory and demanded records from 29 bars and restaurants, nearly half of them TGI Fridays, that they say sold low-quality liquor to patrons who thought they were buying premium brands.
Thursday, May 23 2013 10:11 PM EDT2013-05-24 02:11:26 GMT
An Edison, N.J., police officer was arrested and accused of setting fire to the home of a police captain in his department, according to the Middlesex County Prosecutor's Office.
An Edison, N.J., police officer was arrested and accused of setting fire to the home of a police captain in his department, according to the Middlesex County Prosecutor's Office.
Thursday, May 23 2013 8:50 PM EDT2013-05-24 00:50:04 GMT
Heavy downpours sparked flash flooding across the tristate area on Thursday. The National Weather Service issued numerous weather alerts for many counties in New York, New Jersey, and Connecticut.
Heavy downpours sparked flash flooding across the tristate area on Thursday. The National Weather Service issued numerous weather alerts for many counties in New York, New Jersey, and Connecticut.
Thursday, May 23 2013 12:55 PM EDT2013-05-23 16:55:29 GMT
A $1,000 reward has been posted for information leading to the arrest and conviction of two men seen running to and away from a homicide scene Tuesday night in Camden.
A $1,000 reward has been posted for information leading to the arrest and conviction of two men seen running to and away from a homicide scene Tuesday night in Camden.
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