TEXT-S&P release on PSEG Power LLC

(The following statement was released by the rating agency)

April 18 - 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. (PEG.N: Quote, Profile, Research) (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 and liquidity. Enterprise's business
risk profile is strong and is driven by Power's exposure to merchant power
offset by excellent regulated utility operations of Public Service Electricity
& Gas Co. (PSE&G).

Strengths include Power's well-positioned base-load generation assets
that currently benefit from tightening reserve margins in the PJM region. We
also expect Power's large base-load fleet to perform well as gas increasingly
sets the marginal cost of power in the eastern Mid-Atlantic Area Council.
These strengths are offset to some extent by full requirements contracting
that expose Power's margins to market risks, including load-shaping, fuel, and
volume risks. A significant decline in natural gas prices would negatively
affect gross margins from coal and nuclear assets. Other risks include a
slippage in Power's ability to improve and maintain availability of its
nuclear units, and a fairly high environmental capital-spending program.

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ratings, research, and risk analysis, at www.ratingsdirect.com. All ratings
affected by this rating action can be found on Standard & Poor's public Web
site at www.standardandpoors.com; select your preferred country or region,
then Ratings in the left navigation bar, followed by Credit Ratings Search.
(New York Ratings Team)