2013-04-29 18:05:06 -
For Immediate Release
Investor Relations Contact: Stephen Clark x4260, firstname.lastname@example.org
Media Contact: Joanne Brigandi x4240, email@example.com
April 29, 2013
SJG Receives NJBPU Approval of Gas Transportation Agreement with RC Cape May
Enables the Natural Gas Conversion of the BL England Electric Generation Plant
Folsom, NJ - The New Jersey Board of Public
Utilities today approved an
agreement for South Jersey Gas, subsidiary of South Jersey Industries
(NYSE:SJI), to deliver natural gas to the BL England electric generation
facility in Beesley's Point, 15 miles southwest of Atlantic City. With this
approval the plant's owner, RC Cape May Holdings, LLC can now proceed with
repowering the facility with clean burning, efficient natural gas. The plant is
currently powered with coal and oil.
"The BL England plant is an important part of the electric infrastructure in
southern New Jersey," stated Jeffrey E. DuBois, president of South Jersey Gas.
"The repowering of this station with natural gas assures the continued
availability of this important asset and advances several goals of New Jersey's
Energy Master Plan, including the promotion of new, clean, in-state electric
generation, for power production and protecting our environment" added DuBois.
New Jersey's policy is to discourage the construction of new coal-fired power
plants as well as to accelerate the decommissioning of existing coal-fired
plants in the state.
To provide service to this facility, SJG plans to invest approximately $90
million to construct a new, 24 inch natural gas transmission pipeline, which
will also provide system reliability and reinforcement enhancements for
customers served in Atlantic and Cape May counties.
Once online, the annual throughput of gas to the BL England facility will be
about 20 million dekatherms, essentially equal to the amount of gas SJG
currently provides to approximately 267,000 homes in a year. The plant is
expected to begin operating in 2016.
This news release contains forward-looking statements. All statements other than
statements of historical fact included in this press release should be
considered forward-looking statements made in good faith by the Company and are
intended to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. When used in this press
release words such as "anticipate", "believe", "expect",
"goal", "intend", "objective", "plan",
"project", "seek", "strategy" and similar
expressions are intended to identify forward-looking statements. Such forward-
looking statements are subject to risks and uncertainties that could cause
actual results to differ materially from those expressed or implied in the
statements. These risks and uncertainties include, but are not limited to, the
following: general economic conditions on an international, national, state and
local level; weather conditions in our marketing areas; changes in commodity
costs; the timing of new projects coming online; changes in the availability of
natural gas; "non-routine" or "extraordinary" disruptions in our
system; regulatory, legislative and court decisions; competition; the
availability and cost of capital; costs and effects of legal proceedings and
environmental liabilities; the failure of customers, suppliers or business
partners to fulfill their contractual obligations; and changes in business
strategies. SJI assumes no duty to update these statements should actual events
differ from expectations.
About South Jersey Industries
South Jersey Industries (NYSE: SJI), a member of the MSCI Global Climate Index,
offers solutions to climate change and helps customers control energy costs.
South Jersey Gas, one of the nation's fastest growing natural gas utilities,
delivers clean, efficient natural gas and promotes energy efficiency to
customers in southern New Jersey. SJI's non-regulated businesses, under South
Jersey Energy Solutions, promote efficiency, clean technology and renewable
energy by developing and operating on-site energy production facilities;
acquiring and marketing natural gas and electricity for retail customers;
providing wholesale commodity marketing and risk management services; and
offering HVAC and other energy-efficiency related services. For more information
about SJI and its subsidiaries, visit www.sjindustries.com
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Source: South Jersey Industries via Thomson Reuters ONE