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Board Approves $95 Million for PSE&G Energy Efficiency Economic Stimulus Programs

The New Jersey Board of Public Utilities (BPU) approves a settlement with Public Service Electric & Gas (PSE&G) of approximately $95 million for an extension of its Energy Efficiency Economic Stimulus Program (EEE Extension II).

Since 2009, PSE&G has been helping New Jersey residents save on energy through these programs, which complement the New Jersey Clean Energy Program (NJCEP) while also supporting the goals of the 2011 Energy Master Plan.

“The efficiency improvements made through these programs will benefit all ratepayers by reducing existing demands on the electric power grid,” said Richard Mroz, President of the New Jersey Board of Public Utilities.  “By targeting hospitals and multifamily dwellings and dedicating a portion of funding towards combined heat and power (CHP), a technology that has proved extremely resilient, PSE&G’s Energy Efficiency Economic Stimulus Program has advanced both our energy efficiency and resiliency goals.”

Three programs have been approved in the settlement: a targeted program for hospitals, a targeted program for multifamily dwellings, and a Direct Install program that complements the NJCEP Direct Install Program.

The PSE&G Energy Efficiency Economic Stimulus Program complements and augments the NJCEP Direct Install Program by providing additional focused resources to market sectors that face significant barriers to implementing energy efficiency measures.  The PSE&G Direct Install program will complete projects for customers currently on its waitlist and target local governments, and small businesses in Urban Enterprise Zones.

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