PSE&G Energy Strong Proposal CriticizedNovember 1, 2013 – In The News
Steven Goldenberg was quoted in the New Jersey 101.5 article "PSE&G Energy Strong Proposal Criticized." While the full text can be found in the November 1, 2013, issue of New Jersey 101.5, a synopsis is noted below.
Public Service Electric & Gas (PSE&G) has proposed a four billion dollar Energy Strong plan to strengthen its electric and gas infrastructure in order to better withstand storm damage. The plan has been met with opposition from multiple organizations however, including the New Jersey Large Energy Users Coalition.
Steven Goldenberg said PSE&G could begin to implement the program today if they wanted to, and the only reason they’re not is because “the company has made it clear they will only do so if they’re given extraordinary rate relief first. They are looking for expedited recovery and above-market return on equity, and they are seeking to avoid rate-case scrutiny, which would look at the prudence of these investments before payment for them was authorized.”