BRIEF-PSEG says to retire its Hudson Generation Station, Mercer Generation Station on June 1, 2017
Oct 5 Public Service Enterprise Group Inc :
* "committed to treating the approximately 200 employees at hudson and mercer fairly during the process of retiring the existing units"
* Decision to retire the plants early triggers changes in accounting treatment to have material effect on PSEG's,PSEG power's reported results
* There will be ongoing annual incremental non-cash charges to earnings of $560 million to $580 million in 2016
* Ongoing annual incremental non-cash charges to earnings due to shortening of the expected economic useful lives of the hudson and mercer plants
* Hudson generation station in Jersey City, N.J., and Mercer Generation station in Hamilton Township, N.J., will be retired on June 1, 2017
* In Q3 PSEG, PSEG power expects to recognize one-time charges ranging from estimated $40 - $70 million and $35 - $77 million respectively
* There will be ongoing annual incremental non-cash charges to earnings of $940 million to $960 million in 2017 Source text (bit.ly/2cSUn0S) Further company coverage:
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