NJ Board Approves PSEG Plan For $511M In Infrastructure Upgrades

NEWARK, NJ — Customers will get more reliable service and “hundreds of well-paying jobs” will be created under PSE&G’s recently approved infrastructure improvement plan, the company says.

On Wednesday, the New Jersey Board of Public Utilities (NJBPU) approved a settlement that will enable PSE&G to make more than half a billion dollars in upgrades.

With the approval of PSE&G's Infrastructure Advancement Program (IAP), the state's largest utility is expected to invest $511 million over four years, creating “hundreds of well-paying jobs and helping stimulate the New Jersey economy,” the company said.

For a typical residential electric and gas customer, the proposal's bill impact would be about $1.50 per month in 2026 – or approximately 0.75 percent, the company said.

According to PSE&G:

“The investments will modernize PSE&G's distribution systems to provide customers with improved reliability, including during extreme weather. The IAP also includes ‘Last Mile’ investments that will begin preparing the grid for the rapid transition to EVs and enable a greater blend of renewable energy resources by increasing the reliability of the state's electric grid down to the street and neighborhood level.”

The program includes:

• “Modernizing electric circuits”
• “Upgrading five aging electric substations and four aging natural gas metering and regulating stations”
• “$234 million of last mile improvements to provide residential areas with greater reliability”

PSE&G filed its initial petition with the board in November 2021. It has a headquarters in Newark.

“The Infrastructure Advancement Program is the next step forward in our efforts to meet our customers' changing needs,” PSE&G President Kim Hanemann said.

“The program is another step toward realizing PSEG's Powering Progress vision, in which our customers use less energy, and the energy used is cleaner and delivered more reliably than ever,” Hanemann said.

• See related article: PSEG To Sell $2 Billion 'Fossil Generating Portfolio'
• See related article: PSEG Raises Stock Dividends; CEO 'Pleased' With Cash Return
• See related article: PSEG Has Given Free 'Energy Checkups' To Thousands Of Homeowners

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