(TRENTON) – Assembly Commerce and
Economic Development Committee Chair Albert Coutinho (D-Essex) on Thursday
welcomed the news that New Jersey’s largest utility company – PSE&G - plans
to invest billions of dollars to bolster and modernize its electric and gas
operations.
“I
enthusiastically welcome PSE&G's ambitious plan to significantly invest $3.9
billion in our electric and gas distribution systems. Superstorm Sandy clearly
demonstrated that our energy infrastructure is in desperate need of an
upgrade.
“This
investment will go a long way to guarantee greater system reliability, fewer and
shorter service interruptions, and lower levels of economic loss when future
‘superstorms’ affect our state. This investment will provide several thousand
much needed construction jobs for our sputtering economic recovery, and the
modernization of our systems will allow our economy to grow unimpeded for
decades to come.
“I call
on the BPU to approve this plan and require other utility providers in our state
to follow PSE&G's aggressive lead.
“While I
have full faith in the assertion of PSE&G's CEO Ralph Izzo that this
investment can be done without major increases to already high utility rates, it
is imperative that the BPU verify this fact and act accordingly moving forward.
A significant increase in rates will affect all NJ families and have a
potentially crippling affect on New Jersey manufacturing businesses,” said
Coutinho.
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