Operating earnings for the reporting quarter were $207m, compared to $237m in the fourth quarter of 2011.
Income from continuing operations in 2012 totaled $1,275m, down from $1,407m in the year earlier. PSEG had reported net income of $1,503m in 2011.
Operating earnings for 2012 were $1,236m, while in 2011 operating earnings were $1,389m.
Commenting on the operational update, PSEG chairman, president and CEO Ralph Izzo said the group reported ‘strong results’ despite Superstorm Sandy and the effects of continued low energy prices.
"Superstorm Sandy challenged us more than any other natural disaster in PSEG’s 109-year history," Izzo added.
"We restored service to more than 2.1 million customers in a two week period. The damage created by this latest storm has also challenged us to review and expand our investment program to pursue measures targeted at preventing a similar level of storm related damage in the future."
