The Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company headquartered in Newark, New Jersey, US established in 1985 with a legacy dating back to 1903. The company's largest subsidiary is Public Service Electric and Gas Company (PSE&G). The Public Service Electric and Gas Company is a regulated gas and electric utility company established in 1928 serving the state of New Jersey and it is New Jersey's oldest and largest investor owned utility company; it was originally a subsidiary of the New-Jersey-based Public Service Corporation. History PSE&G/PSEG origins date back to 1903 with the defunct Public Service Corporation. Public Service Electric and Gas Company The Public Service Electric and Gas Company, commonly referred to as PSE&G, is the primary subsidiary of the Public Service Enterprise Group (PSEG) and was established in 1928. The Public Service Corporation was formed in 1903 by combining more than 400 gas, electric and transportation companies in New Jersey. In 1928, the corporation merged its electric and gas utilities into a single company, PSE&G. Also in 1928, Public Service Coordinated Transport was formed as an umbrella for the transit businesses. The parent Public Service Corporation was dissolved in 1948 and PSE&G became an independent company, with Public Service Coordinated Transport as a subsidiary. PSCT was renamed Transport of New Jersey in 1971, and sold to New Jersey Transit in 1980, leaving PSE&G exclusively in the utility business. Public Service Enterprise Group The Public Service Enterprise Group (PSEG) was established in 1985 to take control of the Public Service Electric and Gas Company (PSE&G). In 1989, Public Service Enterprise Group established the Enterprise Diversified Holdings Inc. (now PSEG Energy Holdings) to begin consolidation of unregulated businesses. In 2000, Public Service Enterprise Group split off the PSE&G subsidiary's unregulated national power generation assets to form PSEG Power, while the PSE&G subsidiary continued operating in New Jersey as a regulated gas and electric delivery company. In June 2005, the acquisition of PSEG by Exelon, a Chicago and Philadelphia based utility conglomerate, was approved by the Federal Energy Regulatory Commission; however, the deal was never consummated and eventually dissolved after it became clear that it would not win state regulatory approval from the New Jersey Board of Public Utilities. In 2009, PSEG began installing solar panels on 200,000 utility poles in its service area in a project costing $773 million, the largest such project in the world.