Rate Counsel opposes PSE&G’s $2.78 billion energy-efficiency filing

Insulation

TOM JOHNSON / NJ SPOTLIGHT – The New Jersey Division of Rate Counsel is urging the state to reject a $2.78 billion proposal by Public Service Electric & Gas to invest in new energy-efficiency projects across its territory.

In filings with the state Board of Public Utilities, Rate Counsel’s experts argued the utility overstated how cost effective the proposed six-year program would be. They also contended a provision to recoup revenues PSE&G would lose due to its energy-saving actions is contrary to the Clean Energy Act (CEA) signed by Gov. Phil Murphy last May.

PSE&G submitted the petition last September, part of a $4 billion filing, seeking to align its spending with the clean-energy bill signed only a few months earlier. The utility argued the money spent on 22 energy-efficiency programs would save customers more than $5.7 billion over the 20-year life of the program …

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