The N.J. Board of Public Utilities announced the approval of Triennium 2 energy efficiency programs proposed by the state’s seven electric and gas utilities.
In the process of supporting building decarbonization and energy conservation, these T2 programs will prioritize low-income customers who shoulder disproportionately high energy burdens.
NJBPU President Christine Guhl-Sadovy said the impact of the approval will be huge.
“Today’s approval of the Triennium 2 energy efficiency programs marks a major milestone in our progress toward achieving the goals set out in Governor Murphy’s Energy Master Plan, which is paving the way for a healthier, more sustainable Garden State,” she said.
“By bolstering New Jersey’s ongoing building decarbonization efforts and the NJBPU’s robust array of energy efficiency initiatives, the T2 programs will further boost long-term cost and energy savings for New Jersey customers.”
Eric Miller, executive director of the Office of Climate Action and the Green Economy, also was pleased.
“These ambitious programs are the largest single step by New Jersey to achieve Governor Murphy’s ambitious goal in EO 316 to electrify 400,000 residential and 20,000 commercial units by 2030,” he said. “The steps taken today by the BPU will grow our clean energy workforce, lower bills for participating customers, and reduce greenhouse gas emissions.”
N.J. has seven regulated utilities:
- Atlantic City Electric,
- Elizabethtown Gas Company,
- Jersey Central Power and Light Company,
- New Jersey Natural Gas Company,
- Public Service Electric and Gas Company,
- Rockland Electric Company,
- South Jersey Gas Company.
Triennium 2 is the second cycle of the state’s multi-year utility-run energy efficiency programs. Established by the Clean Energy Act of 2018, natural gas utilities must achieve energy savings of 0.75% and electric utilities must achieve energy savings of 2% of the average annual usage in the prior three years within five years of implementation of their energy efficiency programs.
To date, it is estimated that Triennium 1 programs have disbursed $1.25 billion in financial incentives to ratepayers statewide and reduced annual electricity usage by 3 million megawatt hours, annual natural gas usage by 8.5 million MMBtu, and reduced customers’ utility bills by $600 million. T1 resulted in 1.4 million metric tons of annual greenhouse gas emission reductions, which is equivalent to approximately 300,000 cars removed from the road per year.
The T1 portfolio was expanded in T2 to address two important challenges for NJ: Building decarbonization and demand response.
