Reuters: U.S.: PSEG not yet able to estimate bill from "severe" Sandy damage

Reuters: U.S. Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

PSEG not yet able to estimate bill from "severe" Sandy damage Nov 1st 2012, 12:46 Tweet Share this Email Print Related News Flood ebbs, Northeast picks up after epic storm Wed, Oct 31 2012 Sandy spending hopes drive rally for recovery companies Wed, Oct 31 2012 About 6 million remain without power in Northeast Wed, Oct 31 2012 East Coast crippled by massive storm, death toll climbs Tue, Oct 30 2012 Hurricane Sandy losses may be triple those of Irene Tue, Oct 30 2012 Analysis & Opinion Sandy clouds the election’s final act Can the Port Authority and MTA afford repairs after Sandy? The aftermath of Sandy showcased in a series of large format pictures.   Full Article  1 of 2. Men stand near a destroyed home in Seagate, New York on October 31, 2012. Credit: Reuters/Adrees Latif Thu Nov 1, 2012 8:17am EDT (Reuters) - Public Service Enterprise Group Inc, the top utility in New Jersey, said its infrastructure had suffered severe damage and it was currently unable to estimate its losses from superstorm Sandy but they would be material. PSE&G said the damage to its transmission and distribution systems lead to the worst outage in the company's history, with 1.5 million customers without power. Some generation infrastructure was also damaged in northern New Jersey. "The walls of water created by the storm surge flooded a large number of substations along the Passaic, Raritan and Hudson rivers. The magnitude of the flooding in contiguous areas is unprecedented," the company said in a statement reporting its third-quarter earnings. The company's third-quarter net income rose to $347 million, or 68 cents per share, from $294 million, or 58 cents per share, a year earlier. (Reporting by Swetha Gopinath in Bangalore; Editing by Akshay Lodaya and Rodney Joyce) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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