The New Jersey Board of Public Utilities approved PSE&G’s Infrastructure Advancement Program (IAP) June 29, which will enable the utility to make investments to continue its efforts to enhance reliability and help the state achieve its clean energy goals.
Under the program, New Jersey’s largest utility is expected to invest $511 million over four years, which will create hundreds of jobs and stimulate economic activity.
In addition to investments to modernize distribution systems and improve reliability during extreme weather, the IAP also includes “Last Mile” investments that will begin preparing the grid for the rapid transition to electric vehicles.
“The infrastructure Advancement Program is the next step forward in our efforts to meet our customers’ changing needs,” said PSE&G President Kim Hanemann. “Homes are now more important than ever to people’s daily lives, playing the added roles of offices, entertainment centers, classrooms, and even fueling stations for electric vehicles. Meanwhile, businesses increasingly rely on e-commerce and electronic devices, and many are considering providing charging stations for their EV-driving customers and employees.”
The IAP program includes modernizing electric circuits, upgrading five aging electric substations and four aging natural gas metering and regulating stations, and $234 million of last mile improvements to provide residential areas with greater reliability.
It also continues PSE&G’s work to update its distribution systems to make them more reliable and resilient to increasingly severe storms.
“The program is another step toward realizing PSEG’s Powering Progress vision in which our customers use less energy, and the energy is cleaner and delivered more reliably than ever,” said Hanemann.
For the typical residential electric and gas customer, the proposal’s bill impact would be about $1.50 per month, approximately 0.75%, in 2026.