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Electric & Gas Docket Roundup
On October 30, 2024 the New Jersey BPU held a special meeting to approve the settlement for the electric and gas utilities’ Triennium 2 programs. The Triennium 2 programs include energy efficiency measures for residential, multi-family, LMI, and C&I customers, demand response programs involving direct load control of smart thermostats, behavioral programs, building decarbonization programs encouraging electrification, and workforce development programs. NJNG’s program also includes a building decarbonization start-up program, but SJG and ETG withdrew their proposed BD programs. The gas utilities withdrew their proposed gas demand response programs. The electric and gas utilities will be working with Board Staff in the coming months to develop a central website for these programs. The total budget for each program and impact on customer bills is set forth below:
PSE&G – $2.21 billion – The electric CEF-EE II component of the electric GPRC will not be implemented at this time but will be included in PSE&G’s 2025 GPRC true-up filing. The gas CEF-EE II component of the gas GPRC will be implemented as of January 1, 2025. As a result of the Stipulation, a typical residential gas customer using 172 therms in a winter month and 87 average monthly therms, or 1,040 therms annually, would experience an initial increase in their monthly winter bill of $0.31 or 0.16%. (BPU Docket No. QO23120874)
JCP&L – $640.25 million – As a result of the Stipulation, a typical residential customer with a monthly usage of 777 kWh would experience an increase in their monthly bill of $1.06, or 0.8%. (BPU Docket No. QO23120872)
ACE – $452.3 million – As a result of the Stipulation, a typical residential customer with a monthly usage of 643 kWh would experience an initial increase in their monthly bill of $0.92, or 0.58%. (BPU Docket No. QO23120871)
RECO – $46.3 million – As a result of the Stipulation, a typical residential customer with an annualized monthly usage of 925 kWh per month would experience an increase in their monthly bill of $1.31, or approximately 0.59%. (BPU Docket No. QO23120875)
NJNG – $192 million – As a result of the Stipulation, a typical residential customer using 100 therms in a winter month would experience an increase in their monthly winter bill of $2.55 or 1.7%. (BPU Docket No. QO23120868)
SJG – $132.7 million – As a result of the Stipulation, a typical residential customer using 100 therms in a winter month would experience an initial increase in their monthly winter bill of $0.99 or 0.5%. (BPU Docket No. QO23120870)
ETG – $127.5 million – As a result of the Stipulation, a typical residential customer using 100 therms in a winter month would experience an initial increase in their monthly winter bill of $1.02 or 0.7%. (BPU Docket No. QO23120869)
