South Jersey Industries: SJG Files to Extend and Enhance Energy Efficiency Programs
January 20 2015 - 2:52PM
For Immediate
Release
Phone: 609-561-9000
Investor Relations Contact: Marissa Travaline
x4227
Media Contact: Dan Lockwood x4108
January 20, 2015
SJG Files to
Extend and Enhance Energy Efficiency Programs
Folsom, NJ - South Jersey
Gas, subsidiary of South Jersey Industries (NYSE:SJI), filed a
petition today with the New Jersey Board of Public Utilities to
extend an initiative established in 2009 that encourages energy
efficiency, and in turn, strengthens the local economy.
SJG proposes to continue four of its existing energy efficiency
programs and to add a social marketing and education program to run
through June 2018, totaling approximately $56 million of
investments that are incremental to the company's Conservation
Incentive Program offerings. Since the implementation of SJG's
energy efficiency programs in 2009, customers have received more
than $29 million in grants, rebates and no interest loans to become
more energy efficient.
"This filing is directly in line with our previous
strategies and continues to work in concert with available offers
provided through the New Jersey Clean Energy Program," said Jeffrey
E. DuBois, president of SJG. "Each of these proposed programs
provides a broad range of incentives designed to allow residential,
commercial and industrial customers to lower their energy bills
through participation. And, with the introduction of a Social
Marketing and Education Program through the OPOWER utility software
platform, participating customers will have access to information
that enables them to make informed decisions on their energy usage
and results in increased conservation efforts," added
DuBois.
The programs are structured as follows:
-
The first residential program is designed to
motivate customers to take advantage of the New Jersey Home
Performance with Energy Star® Program by providing financing to
assist in obtaining whole house energy efficiency, comfort and
savings.
-
The second residential program is designed to
motivate customers with existing HVAC systems in need of immediate
replacement to install qualifying high efficiency heating, cooling,
and water heating equipment. SJG will offer significant financing
incentives or grants to those who participate. To receive
incentives for either of the two residential programs, customers
must complete a Home Performance with Energy Star® Home Energy
Assessment, provided by accredited energy auditors.
-
The two commercial and industrial programs that
SJG seeks to continue provide attractive financing packages that
complement the offerings of the New Jersey Clean Energy Program's
Smart Start, Pay for Performance, Custom Measures, and Direct
Install programs. With these incentives, SJG will continue to
provide the financing that commercial and industrial customers need
to implement energy reduction projects.
-
The final program, introduced through the OPOWER
utility software platform, focuses on marketing and education
designed to encourage residential customers to reduce their energy
consumption, and their environmental footprint, by comparing them
to other similar homeowners through customized energy reports. The
program will target a community of approximately 170,000
residential customers based on their energy usage.
The cost of the energy efficiency programs is
expected to result in an initial increase of $0.006485 per therm.
This represents an increase of $0.65 or less than half of one
percent on an average residential customer's 100-therm monthly
heating bill.
Forward-Looking Statement
This news release contains forward-looking
statements. All statements other than statements of historical fact
included in this press release should be considered forward-looking
statements made in good faith by the Company and are intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. When used in this
press release words such as "anticipate", "believe", "expect",
"estimate", "forecast", "goal", "intend", "objective", "plan",
"project", "seek", "strategy" and similar expressions are
intended to identify forward-looking statements. Such
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied in the statements. These risks and
uncertainties include, but are not limited to, the following:
general economic conditions on an international, national, state
and local level; weather conditions in our marketing areas; changes
in commodity costs; the timing of new projects coming online;
changes in the availability of natural gas; "non-routine" or
"extraordinary" disruptions in our distribution system; regulatory,
legislative and court decisions; competition; the availability and
cost of capital; costs and effects of legal proceedings and
environmental liabilities; the failure of customers, suppliers or
business partners to fulfill their contractual obligations; and
changes in business strategies. SJI assumes no duty to update these
statements should actual events differ from expectations.
About South Jersey
Industries
South Jersey Industries
(NYSE: SJI), an energy services holding company based in Folsom,
NJ, operates its business through two primary subsidiaries. South
Jersey Gas, one of the nation's fastest growing natural gas
utilities, delivers clean, efficient natural gas and promotes
energy efficiency to approximately 365,000 customers in southern
New Jersey. SJI's non-regulated businesses, under South Jersey
Energy Solutions, promote efficiency, clean technology and
renewable energy by developing, owning and operating on-site energy
production facilities - including Combined Heat and Power, Solar,
and District Heating and Cooling projects; acquiring and marketing
natural gas and electricity for retail customers; providing
wholesale commodity marketing and risk management services; and
offering HVAC and other energy-efficiency related services. For
more information about SJI and its subsidiaries, visit
http://www.sjindustries.com.
###
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: South Jersey Industries via Globenewswire
HUG#1888458
South Jersey Industries (NYSE:SJI)
Historical Stock Chart
From Mar 2024 to Apr 2024
South Jersey Industries (NYSE:SJI)
Historical Stock Chart
From Apr 2023 to Apr 2024