NEW YORK (Standard&Poor's) April 18, 2008--Standard&Poor's affirmed its 'BBB' corporate credit rating on energy supply company, PSEG Power LLC (Power). Power's corporate credit rating is based on the on the consolidated credit profile of parent Public Service Enterprise Group Inc. (Enterprise; BBB/Stable/A-2), a diversified energy company based in Newark, N.J. The outlook is stable. While Power has a modest debt burden of about $3.3 billion as of December 2007, Enterprise has about $6.6 billion in consolidated recourse debt, net of non-recourse project level bonds, and PSE&G's $1.7 billion of stranded-cost securitization bonds. Enterprise's rating reflects unregulated operations that are volatile, but currently generating strong cash flow, resulting in an improvement in the group's consolidated financial profile
