June 2024

Responsible business is good business. It is a hallmark of excellent companies and, today, guides our commitment to serve our six million customers every day with sustainability, affordability and community vitality in mind.

With dedicated and engaged employees supported by strong, experienced leaders, we’re excited about the future for our company and our stakeholders. Together, we continue to drive progress across the four pillars of our corporate responsibility approach – Employee, Environmental, Social and Governance (EESG) – as we invest in opportunities that enable the clean energy transition and meet the evolving needs of our customers.

In February 2024, we introduced Energize365, a five-year, $26 billion grid evolution initiative designed to deliver the energy our customers depend on today while meeting the challenges of tomorrow. The program targets investments that improve the customer experience, enhance reliability and modernize the grid while keeping affordability at the forefront of our investment strategy.

Our company and employees are committed to achieving our goal of carbon neutrality by 2050, and we recognize that renewable energy is a key aspect of the clean energy transition. Our investments continue to support efforts to cultivate a low-carbon economy within our six-state service territory.

For instance, with the first of five planned solar sites now complete at the Fort Martin Power Station, we’re advancing our goal to own at least 50 MW of solar generation in West Virginia by 2025. We’re also leveraging our expertise to connect renewable resources, big and small, to the grid. This includes individual customer connections and large-scale projects such as connecting New Jersey’s offshore wind farms to the grid. Additionally, we continue to support electric vehicle infrastructure and energy efficiency programs to better serve customers across our footprint.

Moving forward, we will continue to challenge ourselves and reward innovation. We do so because we know continuous improvement is a cornerstone of our culture, is foundational to operating safely and successfully and is necessary to becoming a premier electric company. With responsible business at the heart of our business model, we will continue going above and beyond to help make our customers' lives brighter and our communities stronger.