Report: PSE&G transmission investment boosts New Jersey economy

From 2011 to 2021, Public Service Electric and Gas Co. (PSE&G) investments in New Jersey’s electric transmission network will be a stimulant of the state’s economy, according to an analysis by Rutgers University.

According to the report, the company’s 10-year, $8.1 billion transmission investment program will support 6,000 jobs annually — generating more than $4.3 billion in salary and benefits and more than $640 million in state and local government revenue.

Public Service Enterprise Group (PEG) is a publicly traded diversified energy company with annual revenues of $10 billion. Its operating subsidiaries are: PSEG Power, PSE&G and PSEG Long Island.

The study can be viewed here.

The employment supported by PSE&G’s capital spending will occur across a wide range of sectors. The investments will initially directly support jobs and businesses in construction, engineering and manufacturing, but will also create a ripple effect throughout the broader economy generating indirect employment in retail, transportation and services.

The report, Rutgers’ Economic Impact Analysis of PSE&G’s Capital Expenditure Program, analyzed the impact of seven large-scale projects designed to improve electric transmission capacity across the utility’s service territory.

It did not include PSE&G regular operating and maintenance expenditures or the spending on the recently approved $1.22 billion Energy Strong program. PSE&G estimates that the Energy Strong program could support another 2,900 jobs annually for the next three years.

The seven transmission projects include:

·      Southern Reinforcement Project

·      69 kV Upgrade Portfolio

·      Bergen-Linden Corridor Upgrade

·      Susquehanna-Roseland Project

·      North-Central Reliability Project

·      Burlington-Camden Reliability Project

·      Northeast Grid Project

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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