This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Jersey Natural Gas Files With The Board Of Public Utilities To Implement “SAFE” Program

Stocks in this article: NJR

New Jersey Natural Gas (NJNG) today filed a petition with the New Jersey Board of Public Utilities (BPU) seeking to implement a Safety Acceleration and Facility Enhancement (SAFE) program to replace certain portions of its existing infrastructure that is aged and presents the highest safety risk. This $204 million capital investment program will help replace the cast iron and unprotected steel distribution lines, along with all associated services and meters, in NJNG’s delivery system by approximately 343 miles, or 60 percent, over five years.

“Ensuring safe, reliable service for our customers and the communities we serve is the most important thing we do” said Laurence M. Downes, chairman and CEO of New Jersey Natural Gas. “With the SAFE program, we are looking to upgrade our older and more susceptible infrastructure to ensure the integrity of our system and best serve our customers. We also believe that by leveraging our investment, we can help New Jersey’s economy continue to grow.”

Approximately 570 miles of NJNG’s infrastructure have been identified as being at least 45 years old. These cast iron and unprotected steel mains and services, the most commonly used in the industry prior to 1970, are more susceptible to corrosion and leaks, and account for over 95 percent of all leaks found on the system, excluding third-party damage. NJNG has been routinely addressing the replacement of these facilities through its annual capital construction plan but is seeking approval to expedite that work. The accelerated replacement of this aged main is consistent with the state’s Energy Master Plan and its emphasis on investment in natural gas infrastructure as a pathway to lower energy costs and enhance energy security.

Pending approval, NJNG will annually prepare a list of specific projects in its service territory for the BPU and Rate Counsel, with the first year’s submission to be provided within 45 days from the approved date. NJNG will file proposed work schedules each subsequent June for as long as the program is in effect. The utility is requesting that construction work commence on or after the effective date of the Board Order for this program and be authorized for five years from that date.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs