PSE&G CEO Calls for Regulatory Changes in New Jersey
Ralph Izzo, president, chairman and chief executive officer of Public Service Enterprise Group, today called for a set of regulatory reforms in New Jersey that would establish financial incentives for utilities to help their customers reduce at-home energy use, as well as expand access to renewable energy and new energy-saving technologies.
Izzo delivered his remarks at a state energy forum sponsored by the Chamber of Commerce Southern New Jersey.
“Customers’ demands are changing,” Izzo said. “They want more reliability, they want more resilient power, they want cleaner energy and they want access to smart technology to better understand their energy usage – all while keeping bills affordable.” In order to meet these competing demands, utilities and the regulatory framework that governs them must adapt from a system that encourages utilities to sell as much energy as possible to a new system that provides incentives for the utility to promote greater energy efficiency.
Izzo also discussed the role utilities can play in helping increase the speed of adoption and depth of penetration of new technology, and called for a new look at how New Jersey regulates the long-term modernization of gas and electric infrastructure. He said the state can improve the efficiency and effectiveness of the long-term project-approval process without lowering regulatory oversight.
New Jersey’s Board of Public Utilities typically approves infrastructure projects – such as PSE&G’s programs to flood-proof electric substations or replace aging cast-iron gas mains – in three-year increments. A longer-term approval would enable utilities to plan their purchasing and hiring more efficiently and lead to creation of more jobs, Izzo added.
“If done right, the future of energy in New Jersey is one where we use less energy, the energy we use is cleaner and more reliable, and bills are affordable,” Izzo said.
Related News
From Archive
- OSHA investigates fatal trench collapse at Conroe construction site
- Final Lake Erie sewer tunnel project set to begin after decades-long $3 billion effort
- Texas811 launches real-time excavation detection to prevent utility strikes
- Oil pipeline struck during fiber optic construction spills into L.A. storm drains
- Fiber drilling strike triggers major sewer failure, lawsuits in Florida
- Fatal trench collapse in Mass. leads to $4.6 million OSHA penalty, dozens of violations
- Texas811 launches real-time excavation detection to prevent utility strikes
- Race Communications breaks ground on Bakersfield fiber network
- Final Lake Erie sewer tunnel project set to begin after decades-long $3 billion effort
- Inside Infrastructure: Utility locators warn of systemic failures in damage prevention process
Comments