PSE&G President Urges New Jersey Legislators to Support Renewable and Energy Efficiency Investments to Weather Economic Storm
October 06 2008 - 12:36PM
PR Newswire (US)
TRENTON, N.J., Oct. 6 /PRNewswire-FirstCall/ -- New Jersey should
start to address the effects of the recent economic storm by
encouraging investments in energy efficiency and renewable projects
that will create jobs and strengthen our economy, according to
Ralph LaRossa, president and COO of Public Service Electric and Gas
Co. in legislative testimony today. Speaking before the Joint
Meeting of the Assembly Telecommunications and Utilities Committee
and the Environment and Solid Waste Committee in Trenton, LaRossa
urged lawmakers to take decisive action to approve investments in
projects that create real economic value over the long term. "The
temptation at times like this is to hunker down, to take no risks,
to delay investments until the economy somehow recovers on its own.
But that, in my view, would be exactly the wrong path," LaRossa
said. "When we invest in energy efficiency, homeowners and
businesses can save money for years, even decades. When we invest
in solar power and wind power, we create green-collar jobs and
answer the need to combat climate change. When we invest in modern
transmission lines, we help to contain electricity costs and
improve reliability. In each case, we are building a stronger and
more productive economy," LaRossa said. "PSEG stands ready to make
these investments. And we want to do it on a scale that is large
enough to make a real difference in New Jersey," he said. For
example, he noted, the state's largest utility is awaiting New
Jersey Board of Public Utilities' approval of a $46 million plan to
install insulation, efficient lighting, programmable thermostats
and seals around doors and windows in homes and small businesses in
Trenton and Newark, along with hospitals and businesses across
PSE&G's service territory. "Statewide, we believe there is room
for $2 billion in efficiency investments over the next five years,"
LaRossa said. "That would create 2,200 good jobs. It would reduce
carbon dioxide emissions by 7 million tons over that period. And it
would lower bills." In addition to investments in energy
efficiency, LaRossa said the company is willing to expand its solar
loan program beyond the $105 million already approved. He also
pointed to the offshore wind proposal, approved by the BPU on
Friday, that will create hundreds of construction jobs in the
state, and 30 permanent jobs. "If we work together constructively,
we will emerge from this with an electric system that's cleaner and
more efficient, and an economy that is stronger than ever," he
said. For LaRossa's complete testimony, please visit the "Recent
News" section of http://www.pseg.com/ Public Service Electric and
Gas Company (PSE&G) is New Jersey's oldest and largest
regulated gas and electric delivery utility, serving nearly
three-quarters of the state's population. PSE&G is the winner
of the ReliabilityOne Award for superior electric system
reliability. PSE&G is a subsidiary of Public Service Enterprise
Group Incorporated (PSEG) (NYSE:PEG), a diversified energy company
(http://www.pseg.com/). DATASOURCE: Public Service Electric and Gas
Company (PSE&G) CONTACT: Karen Johnson, Public Service Electric
and Gas Company (PSE&G), +1-973-430-7734 Web Site:
http://www.pseg.com/
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