The $4 billion plan by New Jersey’s largest utility to upgrade its grid is meeting some resistance from state regulators.
The New Jersey Board of Public Utilities says the proposal by PSE&G is more of a conceptual framework than a detailed plan and won’t consider it until it gets more information.
PSE&G president Ralph LaRossa says the company will provide more details and welcomes the review.
“All of this is dependent upon the discussion that we continue to have with the BPU,” said LaRossa. “We may reprioritize some of the costs. We may even defer some of the investments depending on the conversations with the BPU.”
LaRossa says elevating and protecting substations will allow the utility to provide reliable service during future storms.
“A typical PSE&G residential combined electric and gas customer is projected to see their annual bill drop about $12 or $1 per month in 2018. Between now and then bills will fluctuate slightly,” he said.
The price of natural gas matter both for the gas portion of customers’ bill and because lots of electricity is generated at plants burning natural gas.
LaRossa estimates 5,800 jobs will be generated by the grid overhaul.