Utilities get state approval to broaden energy efficiency programs

The increased funding also is expected to support the creation of 965 new jobs in the energy sector.

Public Service Electric and Gas Co., a division of Public Service Enterprise Group (NYSE: PEG), in Newark, represented the largest portion, with a $190 million investment expected to create 688 new jobs.

New Jersey Natural Gas, subsidiary of New Jersey Resources (NYSE: NRG), in Wall, is investing $18.3 million, with 114 new jobs in the works.

South Jersey Gas, a subsidiary of South Jersey Industries (NYSE: SJI), in Folsom, will invest $17.2 million, with 163 new jobs on the way.

BPU also is reviewing energy efficiency investment proposals from Elizabethtown Gas, JCP&L, Rockland Electric and Atlantic City Electric.

PSE&G said its additional investment in the Energy Efficiency Economic Stimulus Program is expected to create new green jobs in the utility and contractor sectors over the next two years.

PSE&G’s additional funding expands upon a $46 million carbon abatement program launched last November. The previously approved program includes installing high-efficiency lighting, additional insulation, energy-usage audits and programmable thermostats.

The new funding will be made available to hospitals in PSE&G’s market that want to cut energy consumption. According to PSE&G, 28 hospitals in the state have expressed interest in the program.