Public Service Enterprise Group chairman and CEO Ralph Izzo doesn’t see the electric industry moving to a largely distributed-generation future. The utility network is the most efficient way to provide power, Izzo said in an E&E TV interview. But energy efficiency should be paramount, he said, and he sees the utility of the future as an energy services provider. “I would like to see us expand way beyond the meter to be someone who provides energy services that help customers lower their bills, first and foremost,” Izzo said. “Secondly, to the extent that people still require electricity – because even though you use less of it, you still will require it – we’re the most reliable provider of that electricity possible.”
Izzo also discussed PSE&G’s $3.9 billion Energy Strong effort and described “a whole host of problems” with the Federal Energy Regulatory Commission’s Order 1000 on transmission planning and cost allocation.
More: E&E TV
PSE&G Workers Hurt, Woman Killed in NJ Gas Explosion
Fire officials in Ewing Township, N.J. said they were not informed of a gas leak before an explosion that killed a resident and injured seven PSE&G workers March 4. Two townhomes were obliterated and 55 others were damaged by the explosion and fire, many so badly they will have to be razed.
A PSE&G crew had been summoned to the townhouse development after a contractor reported hitting a gas line while performing electrical repairs. The utility workers had been at the scene for about 45 minutes when the explosion occurred.
Fire officials said they would have evacuated the area had they been informed of the leak. The New Jersey Board of Public Utilities is investigating the actions of PSE&G and the contractor. The board can levy fines if state regulations were violated. The Occupational Health and Safety Administration (OSHA) is also investigating.
PSEG Sets $12B Capital Spending Over 5 Years
Public Service Enterprise Group will spend about $12 billion in capital investments, mainly in transmission, over the next five years. The operating utility, Public Service Electric and Gas, will spend $10 billion over that time, 20% more than the previous five years, mostly for PJM-mandated transmission upgrades to relieve projected system overloads and maintain reliability, PSEG announced at its annual investor conference in New York City.
This year, operating earnings from the regulated business will be about 55% of earnings, Chairman and CEO Ralph Izzo said, and the utility’s capital spending program will lead to double-digit earnings growth over the 2013-2016 period.
More: PSEG
