PSE&G Gains Approval for Landmark Clean Energy Future-Energy Efficiency Program
PSE&G Gains Approval for Landmark Clean Energy Future-Energy Efficiency Program Energy Efficiency Investments Expected to Save Customers $1 Billion |
[23-September-2020] |
NEWARK, N.J., Sept. 23, 2020 /PRNewswire/ -- The centerpiece of Public Service Electric and Gas Co.'s (PSE&G) landmark Clean Energy Future proposal was approved today by the New Jersey Board of Public Utilities (BPU). This decision clears the way for the state's largest utility to commit $1 billion toward energy efficiency investments over the next three years, the largest commitment ever in New Jersey, which is expected to provide environmental benefits and reduce customer bills while creating jobs and boosting the state's economy. Today's action is a vital step toward achieving Gov. Phil Murphy's clean energy vision, propelling New Jersey's economic and environmental sustainability policies to a new level. "This is a great day for New Jersey and all of us who care about addressing climate change," PSEG Chairman, President and CEO Ralph Izzo said. "Today's decision will allow us to bring the benefits of energy efficiency to every customer and give them options to reduce their energy use, save money and shrink their carbon footprint. New Jersey now has the opportunity to be at the forefront of clean energy policy and be a role model for the nation." PSE&G's $1 billion investment in energy efficiency, including customer programs and information technology platforms to support the energy efficiency investments, will drive significant progress toward achieving Governor Murphy's clean energy agenda. The program's energy-saving measures, which include rebates for energy-efficient appliances and equipment, will help reduce New Jersey's carbon emissions and help the state recover from the economic impacts of the COVID-19 pandemic. Here's how:
"How appropriate that, during Climate Week, New Jersey has taken this vital step to pursue energy efficiency, the most cost-effective approach to addressing climate change," Izzo said. "Today's decision is a tribute to Governor Murphy's decisive leadership on climate change and will deliver the economic and environmental benefits of energy efficiency to our customers." Energy Efficiency Job Training Program Universal Access to Energy Efficiency "We are committed to ensuring that all of our customers and the communities we serve get an opportunity to share in the benefits of this program, including lower energy bills, new jobs and cleaner air," PSE&G President Dave Daly said. "PSE&G appreciates the efforts of BPU staff, New Jersey Rate Counsel and other parties involved to help move this exciting program forward." The approved program reflects the framework adopted by the BPU in June to implement energy efficiency throughout the state, which aligns utility incentives with the state's goal of reducing energy consumption and environmental impacts. PSE&G's energy efficiency program also is designed to:
"This large-scale commitment to energy efficiency is the cornerstone for PSEG to make further progress as a leading provider of sustainable energy," Izzo said. "That commitment includes other clean energy investments, methane-reduction initiatives and zero-carbon nuclear generation." For more see: psegpoweringprogress.com/energy-efficiency/ Separate PSE&G Clean Energy Future proposals pending before the BPU would help New Jersey meet the state's energy storage goals, reduce emissions from the transportation sector and modernize customer communications through advanced metering. More information about PSEG's commitment to environmental leadership can be found in its Sustainability Report and Climate Report. PSE&G Visit PSEG at: Forward-Looking Statement From time to time, PSEG, PSE&G and PSEG Power release important information via postings on their corporate website at https://investor.pseg.com. Investors and other interested parties are encouraged to visit the corporate website to review new postings. The "Email Alerts" link at https://investor.pseg.com may be used to enroll to receive automatic email alerts regarding new postings. View original content to download multimedia:http://www.prnewswire.com/news-releases/pseg-gains-approval-for-landmark-clean-energy-future-energy-efficiency-program-301136870.html SOURCE PSE&G | ||
Company Codes: NYSE:PEG |
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