Welcome to our dedicated page for New Jersey Res news (Ticker: NJR), a resource for investors and traders seeking the latest updates and insights on New Jersey Res stock.
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 (NYSE: NJR), has filed its annual rate adjustments with the New Jersey Board of Public Utilities (BPU). The filings include the Basic Gas Supply Service (BGSS) and Conservation Incentive Program (CIP) rates, along with costs for energy-efficiency (EE) programs. The overall impact will be a 0.5% increase for typical residential heating customers, equating to $0.71 more per month. NJNG aims to reduce the BGSS rate while increasing the Balancing Charge.
The warmer-than-normal winter led to a minimal CIP-related decrease of 0.1%. NJNG also seeks a 0.6% increase to recover costs from its SAVEGREEN energy-efficiency programs. Pending BPU approval, these changes will take effect on October 1, 2024.
New Jersey Natural Gas (NJNG), a subsidiary of New Jersey Resources (NYSE: NJR), has installed two CarbinX carbon-capture units at its Wall, NJ headquarters, marking the first such installations in the state. Developed by CleanO2, the CarbinX technology captures carbon emissions from HVAC systems and converts them into pearl ash, which has various commercial applications. The units improve the efficiency of the facility’s water heater, reducing emissions and energy costs. NJNG aims to use data from this project to inform customers and policymakers about the benefits of carbon-capture technology. This initiative is part of NJNG's broader strategy to support New Jersey's climate goals and enhance energy efficiency.
New Jersey Resources (NYSE: NJR) reported strong second-quarter results for fiscal 2024, with consolidated net income reaching $120.8 million and net financial earnings of $138.6 million. The company re-affirmed its fiscal 2024 net financial earnings per share guidance range of $2.85 to $3.00. NJNG filed a rate case seeking a $222.6 million increase in delivery rates. Despite lower year-to-date earnings compared to the previous fiscal year, NJR's performance reflects its commitment to shareholder value and organic growth initiatives.
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