There is no impact on customer rates currently or immediately upon BPU approval. NJNG will seek to recover the costs associated with the SAFE program through the same method currently in place for its Accelerated Infrastructure Program (AIP). The company will submit a cost recovery filing to the BPU in June each year the program is in effect seeking approval to adjust its base rates the following October. It is anticipated that the annual average rate impact associated with the SAFE program will be an increase of approximately $8.44, or 0.7 percent for the typical residential heating customer using 1,000 therms a year, over the life of the program.The SAFE program also has the potential to have a significant impact on New Jersey’s economy. It is anticipated that the work generated by these upgrade projects will create approximately 120 full-time jobs. Additionally, according to a study conducted by the Rutgers University Bloustein School of Planning and Public Policy, for every million dollars spent on infrastructure construction projects by NJNG, 10.2 jobs are created. Utilizing this formula, it is projected that the SAFE program could create 2078 direct and indirect jobs, as well as $156 million in gross state product. New Jersey Natural Gas is the principal subsidiary of New Jersey Resources, a Fortune 1000 company, that provides safe and reliable natural gas and renewable energy services, including transportation, distribution and asset management in states from the Gulf Coast to the New England regions, including the Mid-Continent region, the West Coast and Canada, while investing in and maintaining an extensive infrastructure to support future growth. With $3 billion in annual revenues, NJR safely and reliably operates and maintains 6,800 miles of natural gas transportation and distribution infrastructure to serve nearly half a million customers; develops and manages a diverse portfolio of 3.2 Bcf/day of firm transportation and over 62 Bcf of firm storage capacity; offers low carbon, clean energy solutions through its commercial and residential solar programs and provides appliance installation, repair and contract service to nearly 130,000 homes and businesses. Additionally, NJR holds investments in midstream assets through equity partnerships including Steckman Ridge and Iroquois. Through Conserve to Preserve®, NJR is helping customers save energy and money by promoting conservation and encouraging efficiency. For more information about NJR, visit www.njresources.com.