Public Service Electric and Gas proposes $2.5 billion in resiliency, reliability investments
Public Service Electric and Gas (PSE&G) recently proposed to invest $2.5 billion over the next five years to improve its system’s resilience and reliability in the second phase of its Energy Strong program.
The proposal now awaits approval by the New Jersey Board of Public Utilities (NJBPU).
The company plans to invest in modernizing its electric and gas stations, installing stronger poles and wires, deploying technology to quicken restoration, constructing additional natural gas pipes, and strengthening its customer service.
Of the $2.5 billion proposal, approximately $1.5 billion is for electric improvements and approximately $1 billion is for gas.
“Our electric infrastructure has served us well, yet it is aging and needs replacement,” Dave Daly, PSE&G president and chief operating officer (COO), said. “The next phase of Energy Strong will mean less frequent outages, faster restoration for customers who experience outages, better estimates of restoration times, improved customer service and improved worker safety. And, building greater redundancy in our gas system will help ensure that we can deliver warmth in winter despite supply curtailments that can impact our system.”
The investments would result in an average bill increase of approximately $4 per month for a typical residential electric customer using 750 kilowatt-hours per summer month. A residential gas heating customer using 165 therms in a winter month would see an average increase of approximately $5. The total impact for a combined electric and gas residential customer would be approximately one percent per year over five years.
“We have a proven track record of making infrastructure improvements on time and on budget, but there is much more work to be done to harden our electric and gas systems against severe weather and enhance reliability,” Daly said.
Pending NJBPU approval, the work will begin in March 2019.
