New Jersey Natural Gas, A New Jersey Resources Business, Files To Extend Current Energy-Efficiency Offerings; NJNG Is Seeking Approval To Invest Up To $76M To Cover The Program Offerings During The Extension Period
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New Jersey Natural Gas (NJNG), a business of New Jersey Resources (NJR), has filed with the New Jersey Board of Public Utilities to extend its current SAVEGREEN energy-efficiency offerings for an additional six months through December 31, 2024. NJNG is seeking approval to invest up to $76 million to cover the program offerings during the extension period. This is in addition to the $259 million previously approved for the current three-year cycle.
November 09, 2023 | 11:58 pm
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New Jersey Resources' subsidiary, NJNG, is seeking to extend its energy-efficiency offerings, with an additional investment of up to $76 million. This could potentially increase NJR's operational costs in the short term, but may also lead to long-term benefits through energy savings and customer retention.
The news directly pertains to NJR as NJNG is its subsidiary. The proposed extension and additional investment could increase NJR's operational costs in the short term, which may put downward pressure on its stock price. However, the energy-efficiency offerings could lead to long-term benefits such as energy savings and customer retention, which could positively impact NJR's future revenues and profitability.
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