PSE&G to invest $1.8 billion in U.S.
Through GSMP II, PSE&G will invest $1.875 billion to continue the accelerated replacement of aging gas pipes, supporting a safe, clean and reliable gas system.
The work, which will create some 3,200 jobs, entails replacing 875 miles of pipes and other gas infrastructure improvements through 2023.
Under GSMP, by December 2018, PSE&G will have completed the replacement of more than 450 miles of vintage, high-risk pipe. PSE&G plans to begin neighborhood work related to GSMP II in early 2019.
In 2017, the BPU approved new rules that support longer-term infrastructure programs of up to five years.
This agreement culminates 10 months of formal discovery, review and discussions, including public hearings before the BPU.
PSE&G has just under 4,000 miles of cast-iron gas pipes, which is more than any other utility in the nation.
At this new pace, the utility can replace its cast-iron and unprotected steel pipes with modern ones in 25 years. Pipes installed before 1960 are the most leak-prone.
They make up 25 percent of PSE&G’s network, yet account for 65 percent of leaks, excluding third-party damages. ■