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New Jersey Resources Corporation reports developments across a diversified energy infrastructure and energy services business anchored by New Jersey Natural Gas. Its recurring updates cover utility operating results, customer growth, rate effects, Basic Gas Supply Service incentives, natural gas hedging, and net financial earnings guidance.
NJR news also follows Energy Services performance in physical natural gas and asset management, Storage and Transportation assets such as Leaf River, Adelphia Gateway Pipeline and Steckman Ridge, Clean Energy Ventures solar projects, Home Services offerings, quarterly dividends, board elections, leadership changes, and environmental or community initiatives tied to its New Jersey service territory.
New Jersey Natural Gas (NJNG), a subsidiary of New Jersey Resources (NJR), has secured approval from the New Jersey Board of Public Utilities to invest $150 million over five years in infrastructure projects aimed at enhancing safety and reliability in its natural gas distribution system. This initiative includes 24 projects such as transmission upgrades and safety device installations. Residential heating customers may incur a 2.4% increase in bills over this period, totaling $28. NJNG plans to file for rate recovery annually and a base rate case within five years.
Adelphia Gateway LLC has received a Partial Notice to Proceed from the Federal Energy Regulatory Commission (FERC) for the first phase of construction on its pipeline project. This phase will convert 50 miles of an 84-mile pipeline from oil to natural gas, aimed at addressing supply constraints in southeastern Pennsylvania. Expected to be operational in 2021, the project is seen as vital for the region’s economy recovery. The necessary environmental permits have been issued, allowing pre-construction mobilization to commence.
NJR Clean Energy Ventures (NJRCEV) and the Borough of Hopatcong celebrate the completion of a 1.5 MW solar project at a former landfill. This project, consisting of nearly 4,000 solar panels, will provide enough energy to power 230 homes annually and reduce emissions by 1,435 tons. NJRCEV will lease 23 acres for 25 years, promoting the state’s clean energy goals by selling generated power to PJM. NJRCEV has invested over $970 million in New Jersey, maintaining more than 350 MW capacity, enough to power nearly 55,000 homes and reduce 322,000 metric tons of emissions annually.
New Jersey Resources (NYSE: NJR) announced a ribbon-cutting ceremony on October 15, 2020, at 10 a.m. to celebrate the completion of a new 1.5 MW solar project at the Hopatcong Municipal Landfill. The project, developed by NJR Clean Energy Ventures, aims to produce clean energy for the wholesale electric market. Key speakers include CEO Steve Westhoven and Mayor Michael Francis of Hopatcong. This initiative aligns with NJR's commitment to sustainability and enhancing local energy solutions.
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