gaps in its commuter network, partly as many large rail companies had failed and been taken over by Conrail. The department of transportation formed a new company, New Jersey Transit, in 1979. It began to buy up bus companies, and purchased Transport of New Jersey in 1980. This ended PSE&G's role as a transportation provider, and it became exclusively an energy utility. In 1985, a new holding company, Public Service Enterprise Group, Inc. formed. The new holding company absorbed PSE&G and formed a second, non-utility subsidiary not subject to utility regulations, Enterprise Diversified Holdings, Inc. References 1903 establishments in New Jersey Public Service Enterprise Group Transportation in New Jersey NJ Transit Bus Operations Streetcars in New Jersey