(Source: Datamonitor)
South Jersey Gas, a subsidiary of South Jersey Industries, has announced that the New Jersey Board of Public Utilities, or BPU, has approved a proposal by the company that will create jobs and strengthen the local economy in support of the US government's economic stimulus plan, while also providing customers with new, energy efficiency program incentives that will result in reduced energy bills.
According to South Jersey Gas (SJG), the initiative involves implementation of five programs over the next two years totaling over $17 million that are incremental to the company's conservation incentive program. The new energy efficiency programs will allow SJG to earn a return of, and a return on, these investments.
The cost of the energy saving programs is expected to result in a minimal increase of $0.0024 per therm. This represents an increase of $0.24 on a residential customer's heating bill of 100 therms or 0.1%, SJG said.
Edward Graham, president and CEO of SJG, said: "Our investment in these new energy efficiency programs will allow our customers to install high efficiency equipment at a very low cost and obtain significant savings in their energy costs over time. Additionally, the programs will provide a long-term benefit to our region through the creation of jobs."
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