Media Release

For Immediate Release	Contact	Phone
June 7, 2006	Ev Liebman	856-966-3091
	Atif Malik	973-643-8800

New Jersey Citizen Action Releases New Report on Exelon and PSEG's Massive Lobbying Expenditures & Political Donations

Report Reveals Exelon and PSEG spent more than $23 million on state and federal lobbying activities between 2001 and the first quarter of 2006. $795,000 was doled out in political donations to NJ state and federal representatives and political party committees during the same period.

Coalition partners call on regulators and lawmakers to resist the influence of campaign cash and massive industry lobbying expenditures in reaching a decision on Exelon's proposed buyout of PSEG.

Trenton, NJ – Today, New Jersey Citizen Action released a new report, Political Power Lines: Running at Full Capacity (there is also an Appendix with supporting data tables). The report, detailing Exelon and PSEG political donations to NJ state and federal representatives, political party committees and lobbying expenditures from 2001 through April, 2006 was released at a State House press conference in Trenton, New Jersey. Citizen Action undertook the analysis of these expenditures in an effort to determine how much money these two giant corporations are spending to influence state and federal policy makers who make major decisions impacting the energy industry and who have or will decide on whether or not to approve the proposed buyout of PSEG by the Chicago-based Exelon Corporation. The New Jersey Public Interest Research Group (NJPIRG) and the Sierra Club - NJ, members of a diverse coalition of organizations opposing the deal, also attended the press conference.

Between the years 2001 and the first quarter of 2006, these two corporations spent $23,215,440.58 lobbying at the state and federal level. During this same period they doled out $795,340 in state and federal political donations to New Jersey representatives and state and federal political party committees. In addition they donated $122,750 to various industry political action committees, which in turn made contributions to New Jersey federal and state representatives and political party committees.

"The enormous amounts of money these corporations are spending on lobbying and political donations are one good indication of just how lucrative this deal is for Exelon, PSEG their shareholders and executives," said Liebman. "However, the deal is not good for consumers who do not have millions to spend on lobbying and political donations. Right now we are struggling just to keep the lights on and heat our homes and we're here today to call on our state and federal policy makers to resist the influence of campaign cash and special interest lobbyists and do what's right for ratepayers," she added.

If approved, the deal would create the largest utility in America, a giant super utility monopoly that would be able to exercise market power that in turn allows a utility to manipulate energy supplies and prices, "a proposal that is clearly contrary to energy deregulation's efforts to create more competitive energy markets with more suppliers and more choice for consumers, not less," said Ev Liebman, New Jersey Citizen Action Program Director.

NJCA and coalition partners are calling upon the New Jersey Board of Public Utilities to reject the proposed acquisition because it is anti-competitive and will increase electric rates by as much as $2.3 billion dollars a year for New Jersey's consumers. The Staff of the NJ Board of Public Utilities, the NJ Public Advocate, large commercial and industrial customers and others have also called on the BPU to reject the deal.

Quick Links For "Political Power Lines" Report

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New Jersey Citizen Action is the state's largest citizen watchdog coalition, representing more than 60,000 family members and over 110 affiliated groups.