PSE&G Highlights Energy Efficiency Achievements: $370 Million in Customer Savings and More Than 1.2 Million Metric Tons of Carbon Emissions Reduced/Avoided Annually

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Nov 15, 2023, 17:00 ET

Participants in Energy Efficiency Initiatives Conserve Nearly 1.7 Million Megawatt Hours of Electricity Each Year – Enough to Power More Than 240,000 Homes

NEWARK, N.J. , Nov. 15, 2023 /PRNewswire/ -- PSE&G's latest report on its Clean Energy Future Energy Efficiency (CEF-EE) initiatives indicates that, from the program's implementation through June 2023, approximately 1.8 million customers have benefited from PSE&G's award-winning energy efficiency programs. Among these customers, 300,000 have actively taken steps to conserve energy and save money by leveraging a suite of energy efficiency offerings.

Through participation in these programs, customers are expected to achieve annual savings of approximately $370 million¹ on their utility bills. These savings are a direct outcome of various program efforts, including recycling more than 19,000 appliances, providing more than 11 million high-efficiency LED lightbulbs*, and completing more than 54,000 home energy assessments**.

PSE&G's programs are also expected to lead to savings of nearly 1.7 million megawatt hours of electricity per year, for participating electric customers, which is enough to power more than 240,000 New Jersey homes for a year[2]. Participating natural gas customers are expected to save a total of approximately 40 million therms of natural gas per year. The combined electric and gas energy savings from PSE&G's programs are expected to avoid approximately 1.2 million metric tons of carbon dioxide emissions[3] per year, or roughly the amount emitted by 266,000 gasoline-powered cars on the road over a one-year period[4].

Karen Reif, vice president of Renewables and Energy Solutions at PSE&G shared, "We take pride in the achievements of our energy efficiency programs. They've made a substantial positive impact on our customers, encouraged energy conservation and delivered savings. Our dedication to furthering New Jersey's position as a leader in clean energy remains unwavering, and we're committed to building on these successes."

As part of the PSE&G CEF-EE program that the New Jersey Board of Public Utilities (NJBPU) approved in September 2020, PSE&G launched ten programs in 2021 specifically designed to provide residential and commercial customers with various options to reduce their energy consumption and save money while lowering their carbon footprint. Furthermore, in May 2023, the NJBPU approved a $280 million nine-month extension of the CEF-EE program that will allow PSE&G to continue providing customers options to reduce their energy consumption and lower their utility bills.

Since 2021, PSE&G's energy efficiency programs have earned more than 40 awards, spanning various categories like program design, program marketing and best practices. In addition to the success of its energy efficiency portfolio, PSE&G also sponsors the Clean Energy Jobs Program, which focuses on building a skilled clean energy workforce and creating jobs critical to New Jersey's clean energy future. This initiative has facilitated the hiring of more than 2,400 New Jersey residents in entry, mid and senior-level positions that directly support growth in the clean energy industry.

On November 9th, PSE&G submitted a request for an additional extension of its current Clean Energy Future-Energy Efficiency (CEF-EE) program with the NJBPU for the period July 2024 - December 2024, with a proposed investment of approximately $306 million. The proposed extension, as called for in the NJBPU's October 2023 order, ensures that PSE&G can continue to offer energy efficiency programs to residential and business customers.

In addition, PSE&G is expected to submit a separate filing proposal on December 1 for the next program cycle, CEF-EE II, for the two-and-a-half-year period starting on January 1, 2025. The proposal will expand on current program offerings, while also introducing new initiatives, including a building decarbonization initiative and a demand response offering that aims to reduce the carbon footprint of residential and commercial buildings and decrease energy demand during costly peak electricity consumption periods.

For more information on PSE&G's energy efficiency programs including how to sign up, visit homeenergy.pseg.com for residential customers or bizsave.pseg.com for business customers. Energy efficiency can help lower your energy use in the future; if you or someone you know is struggling to pay or manage a utility bill right now, PSE&G has many resources available. For details, visit our Help Now website at https://nj.pseg.com/saveenergyandmoney/gethelppayingyourbill.

PSE&G
Public Service Electric & Gas Co. is New Jersey's oldest and largest gas and electric delivery public utility, as well as one of the nation's largest utilities. PSE&G is the 2022 Edison Award recipient from the Edison Electric Institute. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 22 consecutive years. For the second consecutive year, PSE&G is the recipient of the ENERGY STAR Partner of the Year award in the Energy Efficiency Program Delivery category.

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1 Retail bill savings are based on rate class averages for residential and small commercial customers

2 Based on the median annual consumption of PSE&G's residential customers

3 Carbon dioxide savings for electricity are based on EPA eGRID marginal emission rates for the eastern RFC region

4 Vehicle equivalency is base on EPA conversion factors

* Retail lighting products were sunsetted as of July 31, 2023.

**Home energy audit includes: Home Performance with ENERGY STAR®(HPwES), Home Weatherization Program and Quick Home Energy Check-up (QHEC)

SOURCE PSE&G