ROI Influencers: Energy & Utilities 2024
Ralph LaRossa
Chair & CEO
Public Service Enterprise Group
As a panel discussion at the recent ReNew Jersey Business Summit & Expo was coming to a close, Public Service Enterprise Group Chair and CEO Ralph LaRossa offered a big-picture assessment of the state’s business climate — noting the fact that New Jersey was selected to host the final of the 2026 World Cup.
“The world chose New Jersey, so maybe you should choose New Jersey,” he said.
It was a bumper-sticker moment.
It also was classic LaRossa: Powerfully simple words that cut to the essence of the issue.
LaRossa is being honored in the No. 1 spot in the 2024 ROI Influencers: Energy & Utilities for the incredible work he does at PSEG. But that’s just one of the reasons why LaRossa is worthy of the selection.
His willingness — and eagerness — to take on a greater role as champion and cheerleader for the state sets him apart.
LaRossa is the longtime chair of Choose New Jersey, an economic development organization that helps the state attract (and retain) companies from across the country and around the globe.
When these companies arrive, they will find a host of energy companies ready to meet their needs, including PSEG, the state’s largest.
LaRossa, who joined Public Service Electric & Gas in 1985, steadily rose through the ranks. He became CEO of PSEG in the fall of 2022 and assumed the chairman role Jan. 1, 2023.
The company has maintained its efforts in customer service (No. 1 in customer satisfaction with residential and business electric service in the East among large utilities by J.D. Power in 2023) while working to strengthen and modernize its equipment, especially on the last mile of service.
PSEG’s regulated capital investment program for 2024-2028 of up to $21 billion is driven by system modernization and New Jersey’s decarbonization and energy policy goals. PSE&G successfully executed its largest single-year capital investment program in 2023 totaling $3.7 billion.
The company is doing all this while keeping customer bills as low as possible, supporting union labor, increasing supplier diversity and being a model for corporate social responsibility.
Simply put, there are a number of reasons why businesses — and customers — should choose New Jersey. Ralph LaRossa wouldn’t have it any other way.
