EXHIBIT 99.1

      Statement Under Oath Of Principal Financial Officer Regarding Facts
               And Circumstances Relating To Exchange Act Filings

     I, THOMAS M. O'FLYNN,  Executive Vice President and Chief Financial Officer
of Public Service Enterprise Group Incorporated ("PSEG"), state and attest that:

     1.   To the  best of my  knowledge,  based  upon a  review  of the  covered
          reports  of PSEG,  and,  except  as  corrected  or  supplemented  in a
          subsequent covered report:

          o    no covered  report  contained  an untrue  statement of a material
               fact as of the end of the period  covered  by such  report (or in
               the case of a report on Form 8-K or definitive  proxy  materials,
               as of the date on which it was filed); and
          o    no covered  report  omitted to state a material fact necessary to
               make  the  statements  in the  covered  report,  in  light of the
               circumstances  under which they were made,  not  misleading as of
               the end of the period covered by such report (or in the case of a
               report on Form 8-K or definitive proxy materials,  as of the date
               on which it was filed).

     2.   I have  reviewed the  contents of this  statement  with the  Company's
          Audit Committee.

     3.   In this  statement  under oath,  each of the  following  is a "covered
          report":

          o    Most  recent  Annual  Report  on Form  10-K  for the  year  ended
               December 31, 2001, filed March 4, 2002;
          o    All  reports  on Form  10-Q,  all  reports  on  Form  8-K and all
               definitive  proxy materials of PSEG filed with the Securities and
               Exchange  Commission  subsequent  to the  filing of the Form 10-K
               identified above, specifically:
               o    Quarterly  Report on Form 10-Q for the  quarter  ended March
                    31, 2002, filed May 15, 2002;
               o    Quarterly Report on Form 10-Q for the quarter ended June 30,
                    2002, filed July 29, 2002;
               o    Current  Reports on Form 8-K filed April 16, 2002,  July 11,
                    2002 and July 17, 2002; and
               o    Definitive  Notice of Annual Meeting of  Stockholders  to be
                    held April 16, 2002 and Proxy  Statement dated March 1, 2002
                    and filed March 6, 2002;
          o    Any amendments to any of the foregoing, specifically:
               o    Amended  Quarterly  Report on Form  10-Q/A  for the  quarter
                    ended March 31, 2002, filed July 29, 2002; and
               o    Amended  Current Report on Form 8-K/A,  filed July 29, 2002,
                    amending Form 8-K filed July 17, 2002.

                                        Subscribed and sworn to before
                                        me this 29th day of July, 2002

/s/ THOMAS M. O'FLYNN                   /s/ JACQUELYN E. COYLE
---------------------------------       -------------------------------------
THOMAS M. O'FLYNN                       Notary Public of New Jersey
                                        My Commission Expires:  July 22, 2007
                                        (SEAL)
Date:  July 29, 2002