Dive Brief:
- Public Service Electric & Gas (PSE&G) plans to spend $6.8 billion over five years on transmission projects.
- PSE&G's total expected spending of $10 billion through 2018 is a 20% increase over the utility's last five-year spending plan.
- PSE&G, New Jersey's largest utility, expects customer demand to grow by 1.1% a year.
Dive Insight:
PSE&G's spending on transmission will account for about 70% of the utility's total spending. This reflects a trend of utilities increasing their focus on transmission projects, which provide healthy rates of return.
