SJG Receives NJBPU Approval to Continue and Enhance Energy Efficiency Programs
August 19 2015 - 12:54PM
For Immediate
Release
Phone: 609-561-9000
Investor Relations Contact: Ann Anthony x4143,
aanthony@sjindustries.com
Media Relations Contact: Lauren Hurtt x4181,
lhurtt@sjindustries.com
August 19, 2015
SJG Receives NJBPU
Approval to Continue and Enhance Energy Efficiency
Programs
Folsom, NJ - South Jersey Gas, subsidiary of
South Jersey Industries (NYSE:SJI), today received New Jersey Board
of Public Utilities approval to continue an initiative established
in 2009 to encourage energy efficiency.
The company was approved to continue four existing
programs and implement a new Social Marketing and Education Program
through August 31, 2017, with investments totaling $36.3 million
that are incremental to the company's Conservation Incentive
Program offerings.
"Our energy efficiency strategies fall directly in line with the
goals of New Jersey's Energy Master Plan and we continue to work in
concert with available offers provided through the New Jersey Clean
Energy Program to help our customers increase their comfort and
save money," said Jeffrey E. DuBois, president of SJG. "With
the continuation of these programs, SJG's residential, commercial
and industrial customers will have access to a broad range of
incentives to help them lower their energy bills.
Furthermore, with the addition of a Social Marketing and
Education Program, participating residential customers will have
easy access to information that enables them to make informed
decisions regarding their energy usage and conservation efforts,"
added DuBois.
The programs are structured as follows:
-
Residential Home Performance and Finance Energy
Efficiency Program - This program is designed to motivate customers
to take advantage of New Jersey's Home Performance
with Energy Star® program by providing significant financing
offers - up to $10,000 as a 7-year loan at zero percent interest
with no money down, or up to $15,000 as a 10-year loan at 4.99
percent interest - to assist in obtaining whole house energy
efficiency, comfort and savings. To receive financing, customers
must work through an accredited Home Performance
with Energy Star® company.
-
Enhanced Residential HVAC Rebate Program - This
program is designed to motivate customers with existing HVAC
systems in need of immediate replacement, to install qualifying
high efficiency heating and water heating equipment. SJG will
offer grants of $500 or financing up to $6,500 at zero percent
interest for a 5-year term to eligible customers after completion
of a Home Performance with Energy Star® Home
Energy Assessment, provided by an accredited home energy
auditor.
-
Non-Residential Energy Efficiency Investment
Program - This program is designed to generate large energy savings
for commercial and industrial customers by offering financing of up
to $100,000 at zero percent interest for a 5-year term, to
qualified customers who are eligible for financing offers through
the New Jersey Clean Energy Program's Smart Start,
Pay for Performance, and Custom Measures programs.
-
Commercial Customer Direct Install Financing
Program - This program is designed to encourage NJCEP Direct Install program participation by financing the
difference between the project cost and the NJCEP Direct Install
incentive, which covers 70 percent of the project cost or a maximum
of $125,000. SJG offers financing of up to 30 percent of the
project cost, up to a maximum of $53,571, with no money down at
zero percent interest for a 3-year term.
-
Social Marketing and Education Program - This
new program 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.
While the cost of providing these energy
efficiency programs is expected to result in an increase of $0.45,
or 0.3 percent, on an average residential customer's 100-therm
monthly heating bill, that would be more than offset by another
filing currently pending at the BPU. In June, SJG filed a request
to reduce its Basic Gas Supply Service (BGSS) and Conservation
Incentive Program (CIP) rates by $15.27, or 11.2 percent, to pass
on to customers the benefits of decreases in gas commodity costs
and the savings associated with their conservation efforts.
Since 2009, South Jersey Gas has assisted nearly
11,000 customers with energy efficiency upgrades, with customers
receiving $37 million in grants, rebates and no interest loans to
increase their energy efficiency.
For more information or to take part in any of these programs,
please dial 1-800-648-0138. To learn more about South Jersey Gas,
visit www.southjerseygas.com.
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 more than 369,000 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 fuel supply 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#1946567
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