For Immediate Release
Folsom, NJ - South Jersey Gas, subsidiary of South Jersey Industries (NYSE:SJI), filed a petition today with the New Jersey Board of Public Utilities to extend an initiative established in 2009 that encourages energy efficiency, and in turn, strengthens the local economy.
SJG proposes to continue four of its existing energy efficiency programs and to add a social marketing and education program to run through June 2018, totaling approximately $56 million of investments that are incremental to the company's Conservation Incentive Program offerings. Since the implementation of SJG's energy efficiency programs in 2009, customers have received more than $29 million in grants, rebates and no interest loans to become more energy efficient.
"This filing is directly in line with our previous strategies and continues to work in concert with available offers provided through the New Jersey Clean Energy Program," said Jeffrey E. DuBois, president of SJG. "Each of these proposed programs provides a broad range of incentives designed to allow residential, commercial and industrial customers to lower their energy bills through participation. And, with the introduction of a Social Marketing and Education Program through the OPOWER utility software platform, participating customers will have access to information that enables them to make informed decisions on their energy usage and results in increased conservation efforts," added DuBois.
The programs are structured as follows:
- The first residential program is designed to motivate customers to take advantage of the New Jersey Home Performance with Energy Star® Program by providing financing to assist in obtaining whole house energy efficiency, comfort and savings.
- The second residential program is designed to motivate customers with existing HVAC systems in need of immediate replacement to install qualifying high efficiency heating, cooling, and water heating equipment. SJG will offer significant financing incentives or grants to those who participate. To receive incentives for either of the two residential programs, customers must complete a Home Performance with Energy Star® Home Energy Assessment, provided by accredited energy auditors.
- The two commercial and industrial programs that SJG seeks to continue provide attractive financing packages that complement the offerings of the New Jersey Clean Energy Program's Smart Start, Pay for Performance, Custom Measures, and Direct Install programs. With these incentives, SJG will continue to provide the financing that commercial and industrial customers need to implement energy reduction projects.
- The final program, introduced through the OPOWER utility software platform, focuses on marketing and education designed to encourage residential customers to reduce their energy consumption, and their environmental footprint, by comparing them to other similar homeowners through customized energy reports. The program will target a community of approximately 170,000 residential customers based on their energy usage.
The cost of the energy efficiency programs is expected to result in an initial increase of $0.006485 per therm. This represents an increase of $0.65 or less than half of one percent on an average residential customer's 100-therm monthly heating bill.
Investor Relations Contact: Marissa Travaline x4227
Media Contact: Dan Lockwood x4108