PSE&G Gets Green Light to Provide Smart Meters
BPU-Approved Settlement Allows $700 Million Investment Over 4 Years
(NEWARK, N.J. – Jan. 7, 2021) Public Service Electric & Gas received approval today from the New Jersey Board of Public Utilities to invest approximately $700 million during the next four years to provide its 2.3 million electric customers with smart meters. The decision clears the way for the largest installation of smart meter technology in New Jersey history.
Smart meters are the foundation of PSE&G’s Energy Cloud – Advanced Metering Infrastructure effort that will create an integrated, two-way communications network between electric customers and the utility. This network will enable automatic, near real-time meter reading – virtually eliminating estimated utility bills, providing more efficient response to outages and allowing customers to make more informed decisions about their energy usage.
“This is a vital step toward achieving a smarter and cleaner energy future for New Jersey,” PSE&G President Dave Daly said. “Smart meters provide the real-time communications necessary to better serve our customers and will provide electric customers with valuable information about their energy consumption. Smart meters and the supporting communications network can help expedite electric service restorations when severe weather strikes, help customers increase their home energy savings, and improve service quality.”
“A smart meter network is essential to PSEG’s Powering Progress vision for a future in which we help our customers use less energy; ensure that the energy they do use is cleaner; and deliver that energy more reliably than ever,” Daly said.
The implementation of a smart meter network is another step toward achieving Gov. Phil Murphy’s clean energy vision for New Jersey. The improved communications will lead to fewer truck dispatches and other efficiencies that are expected to reduce PSE&G’s carbon dioxide emissions by about 2,800 metric tons per year.
PSE&G is committed to working with its union partners and all of its employees on the transition to smart meters, which will occur over several years.
For more information on AMI and smart meters, visit psegpoweringprogress.com/energy-cloud/.
Public Service Electric & Gas Co. (PSE&G) is New Jersey’s oldest and largest gas and electric delivery public utility, serving three-quarters of the state’s population. PSE&G is the winner of the ReliabilityOne Award for superior electric system reliability in the Mid-Atlantic region. In 2020, PSE&G was named the most trusted combined gas & electric utility in the East Region, by the Cogent Syndicated Brand Trust Index. PSE&G is a subsidiary of Public Service Enterprise Group Inc. (PSEG) (NYSE:PEG), a diversified energy company. PSEG has been named to the Dow Jones Sustainability Index for North America for 13 consecutive years (www.pseg.com).