By: Tom Johnson |
Public Service Electric & Gas yesterday got the go-ahead for three transmission projects totaling more than $200 million in new investments.
The projects were part of $1 billion worth of transmission-related upgrades approved by PJM Interconnection, which oversees the nation’s largest power grid serving more than 65 million people from the Eastern Seaboard to Illinois.
For PSE&G, the projects are the latest part of a huge investment planned by the state’s largest utility to upgrade and modernize the electric grid serving nearly 2 million customers.
“The projects PJM approved today will strengthen the transmission grid by upgrading equipment and constructing lines between our stations to improve our network and maintain reliability for our customers,’’ said Isabel Goncalves-Rooney, project director.
The largest project will involve the investment of $197 million in Union County to upgrade existing substations in Springfield and Union and build a new 11-mile, 69-kilovolt line between Front Street and Stanley Terrace.
The other two projects also call for construction of 69-kilovolt lines between Hasbrouck Heights and Carlstadt (five miles) and Hilltop and Woodbury (15 miles). The respective costs are $21 million and $98 million.
The projects are the latest of more than $12 billion in investments planned by the utility between now and 2020, most of which will be spent on transmission and distribution upgrades.
The cost of the latest three projects will be factored into the price of electricity set in an annual auction held by the New Jersey Board of Public Utilities next February, according to Karen Johnson, a spokeswoman for PSE&G.