PSE&G Announces Agreement With NJ BPU Staff And Rate Counsel - Quick Facts

(RTTNews) - Public Service Electric and Gas Company (PSE&G) announced 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. 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.

Under the settlement, PSE&G's return on equity on the investment will be determined as part of the utility's base distribution rate review currently under way. The average annual bill impact for a typical residential customer is expected to be less than a 2 percent increase, or about $17, per year over the five-year program.