ICF Consulting Retained by the New Jersey Board of Public Utilities to Advise on PSEG Acquisition

FAIRFAX, VA, – ICF Consulting announced today that it was awarded a US$650,000 contract by the New Jersey Board of Public Utilities (NJ BPU) to provide consulting services related to federal issues, financial and economic analysis, and merger and acquisition support in connection with the joint petition of Public Service Enterprise Group (PSEG) and Exelon Corporation for approval of a change of control of PSEG. ICF Consulting is assisting NJ BPU in the assessment of issues and the development of positions and filings for three federal proceedings—(1) the Federal Energy Regulatory Commission (FERC), (2) the U.S. Department of Justice (DOJ), and (3) the U.S. Securities and Exchange Commission (SEC)—as well as upcoming proceedings at the NJ BPU regarding the proposed acquisition.

"We are pleased to apply our deep expertise in energy regulatory, litigation, policy, and legislative issues to the important role of advising the NJ BPU and helping them to meet their goals at the federal and state proceedings in regard to the proposed acquisition of PSEG by Exelon," says Philip Mihlmester, Senior Vice President in charge of the firm’s energy markets services.

"Our past support for scores of successful cases reinforces our reputation for providing credible and unbiased third-party assessments, market analysis, and testimony before regulatory commissions and courts," says Elliot Roseman, the ICF Consulting manager for this project. "ICF Consulting’s assessment of the potential impacts of proposed acquisition of PSEG by Exelon will prove valuable at the state proceedings and federal hearings," says Mr. Roseman.

The ICF Consulting team also includes the law firm of White & Case, LLP.

For more than 30 years, ICF Consulting has offered in-depth knowledge of energy market dynamics, and natural synergies and hedges, as well as the ability to customize the analytic process. The firm’s comprehensive understanding of the market, combined with its flexibility, creativity, and perspective, earn trust and respect in the regulatory and utility community.

ICF Consulting (http://www.icfconsulting.com) is a leading management, technology, and policy consulting firm. Drawing upon extensive industry knowledge, distinguished professionals, and innovative analytics, the firm develops solutions to complex defense, homeland security, energy, environment, social program, and transportation issues. ICF Consulting’s approach to these issues is strengthened by its expertise in information technology, organizational improvement, program management, and communications. Since 1969, ICF Consulting has been serving major corporations, government at all levels, and multinational institutions. More than 1,200 employees serve these clients from key business centers in the Americas, Asia, and Europe.