Dive Summary:
- The Public Service Enterprise Group, which owns Public Service Electric & Gas Co. (PSE&G), New Jersey's largest power supplier, will carry out a $3.9 billion, 10-year plan to fortify its infrastructure.
- The news comes in the wake of Hurricane Sandy, which left 2 million of the utility's customers without power.
- PSE&G says "the state’s entire energy infrastructure needs to be rethought" and the upgrade is necessary to protect itself and its customers against "increasingly frequent severe weather conditions."
From the article:
"... The company has been hit with high costs to repair damage to its Public Service Electric & Gas Co. unit following superstorm Sandy and a subsequent nor’easter, and on Wednesday said it would ask state regulators to approve funding for about two-thirds of the anticipated cost during the first five years of the project. ..."