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In recognition of National 811 Day, NJNG invites residents to attend its annual Dig Safely Fair on Sunday, August 11, 2019, from 11 a.m.
The proposed rate adjustment is necessary to cover the costs associated with the responsible operation of NJNG's business, including its substantial infrastructure investments.
The IIP consists of a series of natural gas transmission and distribution replacement and enhancement projects and a critical, integrated IT program that will replace NJNG's existing systems installed between 1994 and 1997 and will no longer have extended support after April 2025.
In the past three years, NJNG said it has replaced 62 miles of cast iron and 159 miles of unprotected steel main and associated services throughout its service territory as part of its Safety Acceleration and Facility Enhancement (SAFE) program.
According to the company, the forecasted loss in the fourth quarter is due to the seasonal nature of NJRES and NJNG's businesses and higher discretionary expenses, including the estimated impact of a voluntary early retirement programme.
NJNG said the programs will play "a critical role in helping New Jersey reach its energy-efficiency goals, while infusing capital to stimulate the economy and support job growth in the state."
To save supplies and equipment from further damage, the NJNG decided to expand unheated storage space immediately, but also to see that the solution was lasting and affordable.
The IIP includes projects to replace natural gas transmission and distribution systems, and upgrading NJNG's IT systems from programs originally installed between 1994 and 1997.
NJNG's score of 707 (on a 1,000-point scale) ranks in the top tier among all natural gas utilities in the east region and exceeded the industry average of 675.
As a leader in the competitive energy marketplace, New Jersey Natural Gas (NJNG) continuously studies opportunities to maximize operational efficiencies.
The increase, NJNG said, is due to a spike in wholesale natural gas prices.
NJNG announced it will reduce customers' rates by $21M, effective April 1, 2018, resulting in a $31, or 3%, decrease to a typical residential heating customer's annual bill.
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