Dive Brief:
- PSE&G is in active talks about a $2.6 billion infrastructure proposal aimed at making the New Jersey utility's grid system stronger in the wake of Super Storm Sandy, company officials said during an earnings conference call. They declined to discuss reports that talks were focused on a $1 billion to $1.9 billion investment plan.
- PSE&G plans to spend $446 million on 143 MW of solar.
- PSE&G's “weather-normalized” sales jumped 2.7% in the fourth quarter, but fell 1.5% for the year.
Dive Insight:
Transmission is a growing part of PSE&G's ratebase, growing to 36% at the end of last year from 28% a year ago. “PSE&G's growth in 2014 will continue to benefit from its ability to earn a return on its expanded investment in transmission,” Ralph Izzo, Public Service Enterprise Group chairman, president and CEO, said. “The Federal Energy Regulatory Commission approved an agreement which provides for an annual increase in transmission revenue of $171 million under the company's formula rate filing.”