8-K

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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


         Date of Report (Date of earliest event reported) July 11, 2002



                  PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED
             (Exact name of registrant as specified in its charter)

State of New Jersey                 001-09120                   22-2625848
(State or other             (Commission File Number)         (I.R.S. Employer
jurisdiction of                                              Identification No.)
incorporation)
                          80 Park Plaza, P.O. Box 1171
                          Newark, New Jersey 07101-1171
               (Address of principal executive offices) (Zip Code)


        Registrant's telephone number, including area code: 973-430-7000


                               http://www.pseg.com
                         (Registrant's internet address)

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Item 5. Other Events

     The following  information  updates certain matters previously  reported to
the Securities and Exchange Commission under Item 1. Business of Part I and Item
7.  Management's  Discussion and Analysis of Financial  Condition and Results of
Operations and Item 8. Financial Statements and Supplementary Data of Part II of
the Annual  Reports on Form 10-K for the year ended  December 31, 2001 of Public
Service  Enterprise Group  Incorporated  (PSEG) and the Quarterly Report on Form
10-Q for the quarter ended March 31, 2002.

PSEG RESPONDS TO TURMOIL IN ENERGY EQUITY MARKETS

     Reference is made to the press release dated July 11, 2002, a copy of which
is attached hereto as Exhibit 99.1.


Item 7. Financial Statements and Exhibits

Exhibit Designation                 Nature of Exhibit

     99.1                  Press Release dated July 11, 2002




                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                  PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED
                                  (Registrant)


                  By:          EDWIN R. SELOVER
                  --------------------------------------------
                    Senior Vice President and General Counsel


Date: July 11, 2002

EX-99

                                                                   July 11, 2002



                PEG RESPONDS TO TURMOIL IN ENERGY EQUITY MARKETS


     There  are  apparent  market  concerns  about  significant  effects  on the
earnings prospects of merchant energy companies due to recent disruptions in the
energy trading  markets.  In response to this,  Public Service  Enterprise Group
[NYSE:  PEG] today said that,  excluding  certain one-time  charges,  it expects
these  disruptions and other factors to cause at most a 5% reduction in its 2002
earnings per share guidance.

     The one-time  charges are largely  consistent  with  estimates  provided in
PEG's first-quarter 10Q filed with the Securities and Exchange Commission.

     Details will be provided  when PEG  announces  second-quarter  results in a
news release previously scheduled for issuance at 8:30 a.m. next Wednesday.


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