NEWARK, NJ — PSE&G announced on April 23 a $1.875 billion settlement with the staff of the New Jersey Board of Public Utilities, the New Jersey Division of Rate Counsel and other parties to continue the accelerated replacement of aging gas pipes, supporting a safe, clean and reliable gas system well into the future. The settlement agreement is pending approval by the BPU.
In a filing with the BPU in July 2017, PSE&G sought approval to continue to accelerate the replacement of the cast iron and unprotected steel gas mains throughout its service territory. The settlement will enable the utility to replace 875 miles of gas mains and make other improvements to its gas system over the five-year period.
“By year end, we expect to have replaced hundreds of miles of aging gas pipes under the first phase of our Gas System Modernization Program,” PSE&G President and COO David Daly said in a press release. “This agreement means we can continue the next phase of this important work, which will result in improved safety and reliability of gas service and reduced methane emissions. It will also ensure we have the critical infrastructure needed to grow New Jersey’s economy for years to come.
“Together with our contractors, we have demonstrated we can manage a larger-scale, longer-duration program safely and cost-effectively,” Daly added. “We thank all of the parties involved for their thoughtful participation and review in this matter.”
In addition to PSE&G, the BPU staff and NJ Rate Counsel, parties supporting the settlement include: the Environmental Defense Fund, Local Union 94 of the International Brotherhood of Electrical Workers, Local 855 of the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry, the Engineers Labor-Employment Cooperative, New Jersey Laborers – Employers Cooperation and Education Trust, Ferreira Construction, and Creamer-Sanzari Joint Venture.
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