New Jersey Resources Statement: Federal Energy Regulatory Commission Approves PennEast Pipeline

On January 19, following a lengthy, thorough review, the Federal Energy Regulatory Commission (FERC) approved the PennEast pipeline. In issuing a Certificate of Public Convenience and Necessity, FERC agreed there was a clear need for PennEast, and that it can be operated safely, with minimal impact on the environment.

“FERC’s approval process for pipelines is a stringent one, as it should be,” Stephen Westhoven, chief operating officer at New Jersey Resources, said. “The PennEast team has worked diligently to meet all FERC requirements, in order to provide low-cost natural gas to our state’s residents and businesses, reduce energy costs, create jobs and drive economic development in New Jersey.”

“We are pleased this project has received FERC approval, and look forward to delivering the benefits of this locally sourced, abundant, low-cost natural gas to our state.”

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About New Jersey Resources

New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

  • New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,400 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex and Burlington counties.
  • NJR Clean Energy Ventures invests in, owns and operates solar and onshore wind projects with a total capacity of more than 315 megawatts, providing residential and commercial customers with low-carbon solutions.
  • NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • NJR Midstream serves customers from local distributors and producers to electric generators and wholesale marketers through its 50 percent equity ownership in the Steckman Ridge natural gas storage facility and its stake in Dominion Midstream Partners, L.P., as well as its 20 percent equity interest in the PennEast Pipeline Project.
  • NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its more than 1,000 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.

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