South Jersey Industries : South Jersey Resources Group to Supply Fuel Management Services to Caithness Moxie Freedom Project
December 04 2015 - 10:11AM
FOR IMMEDIATE
RELEASE
TELEPHONE: 609-561-9000
Investor Relations Contact: Marissa
Travaline x4227
Media Contact: Dan Lockwood x4108
December 4, 2015
South Jersey
Resources Group to Supply Fuel Management Services
to the Caithness Moxie Freedom
Project
FOLSOM, NJ - South Jersey Industries, (NYSE:SJI), the energy
holding company for South Jersey Energy Solutions, announced that
SJES' subsidiary, South Jersey Resources Group has executed a
10-year contract to supply fuel management services with the
Caithness Moxie Freedom Power Generation Plant. Under the terms of
the contract, SJRG will be the exclusive provider of natural gas
supplies and services associated with managing those supplies for
the generating station.
The proposed facility is a clean
natural-gas fueled 1,029 megawatt combined-cycle generating station
located in Salem Township, Luzerne County, Pennsylvania. Commercial
operations are expected to begin in 2018. Once built, the plant is
expected to supply the power needs of more than one million homes
in the PJM region. PJM is a regional transmission organization that
coordinates the movement of wholesale electricity in all or parts
of 13 states and the District of Columbia.
The unit, at maximum output, will
burn up to 165,000 dekatherms of natural gas per day. One hundred
percent of natural gas supplies will be purchased from Cabot Oil
and Gas Corporation (NYSE:COG) under a groundbreaking power net
back arrangement, which guarantees Cabot attractive rates of return
while providing fuel costs in line with power prices which
eliminates risks for each of the parties involved in the
transaction.
"SJRG's commodity marketing program
has allowed us to link generators to abundant and affordable
natural gas supplies. We are excited to work with this new project
in Pennsylvania and are excited about the opportunities SJRG has in
the growing gas-fired merchant electricity generation industry,"
said SJRG President Gregory M. Nuzzo.
About SJI
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 370,000
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.
About Moxie Energy LLC
Moxie Energy, LLC was formed to
develop, own, and operate clean energy infrastructure
projects, and to provide consulting services to the energy
industry.
About Caithness
Energy, L.L.C.
Caithness Energy, L.L.C. is a
privately held, New York-based independent power producer. For over
25 years, Caithness has been a pioneer in the development of clean,
reliable energy. Caithness specializes in the development,
acquisition, operation, and management of renewable energy and
clean natural gas development projects.
About Cabot Oil
& Gas Corporation
Cabot Oil & Gas Corporation
(NYSE:COG), headquartered in Houston, Texas is a leading
independent natural gas producer, with its entire resource base
located in the continental United States.
###
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announcement is distributed by NASDAQ OMX Corporate Solutions on
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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#1971537
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