For Immediate Release
Phone: 609-561-9000
Investor Relations Contact: Stephen Clark x4260
Media Contact: Dan Lockwood x4108
June 21, 2013
SJG Receives NJBPU Approval to Continue Energy Efficiency Programs
Folsom, NJ - South Jersey Gas, subsidiary of South Jersey Industries (NYSE:SJI), today received New Jersey Board of Public Utilities approval to continue an initiative established in 2009 to encourage energy efficiency.
"Our energy efficiency strategies fall directly in line with the goals of New Jersey's Energy Master Plan and we continue to work in concert with available offers provided through the New Jersey Clean Energy Program to help our customers increase their comfort and save money," said Jeffrey E. DuBois, president of SJG.
The company will continue four programs through June 30, 2015, totaling $24 million of investments. The programs are structured as follows:
-
Residential Home Performance and Finance Energy Efficiency Program - This program provides significant financing offers - up to $10,000 as a 10-year loan at 0% interest with no money down - to eligible residential customers who install qualifying high efficiency HVAC equipment. To receive financing, customers must complete a Home Performance with Energy Star® Home Energy Assessment, provided by accredited energy auditors.
-
Enhanced Residential HVAC Rebate Program - This program provides residential HVAC rebates of $500 if a customer simultaneously installs an approved central heating and water heating system and has a Home Performance with Energy Star® Home Energy Assessment. Alternatively, instead of the rebate, an eligible customer has the option to choose an attractive financing offer - up to $6,500 at 0% interest for a 5-year term - to complete installation of the approved central heating and water heating system.
-
Non-Residential Energy Investment Program - Program three is designed for commercial customers and offers financing of up to $100,000 at 0% interest for a 5-year term to qualified customers who are eligible for financing offers through the New Jersey Clean Energy Program's Smart Start, Retrofit Pay for Performance and Customer Measure programs.
-
Commercial Customer Direct Install Financing Program - The fourth program seeks to motivate SJG's commercial customers to participate in New Jersey's Clean Energy Direct Install program to reduce their energy consumption through complementary financing offers. SJG will offer qualifying commercial customers financing of 30% of the total cost of the project, up to $37,500, at 0% interest for a 2-year term.
The cost of providing these energy efficiency programs is expected to result in an increase of $0.0035 per therm, including taxes. This represents an increase of $0.35 or 0.3% on an average residential customer's 100 therm monthly heating bill.
For more information or to take part in any of these programs, please dial 1-800-648-0138. To learn more about South Jersey Gas, visit www.southjerseygas.com.
FORWARD-LOOKING STATEMENT
This news release contains forward-looking statements. All statements other than statements of historical fact included in this press release should be considered forward-looking statements made in good faith by the company and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. When used in this press release words such as "anticipate", "believe", "expect", "estimate", "forecast", "goal", "intend", "objective", "plan", "project", "seek", "strategy" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. These risks and uncertainties include, but are not limited to, the following: general economic conditions on an international, national, state and local level; weather conditions in our marketing areas; changes in commodity costs; the timing of new projects coming online; changes in the availability of natural gas; "non-routine" or "extraordinary" disruptions in our distribution system; regulatory, legislative and court decisions; competition; the availability and cost of capital; costs and effects of legal proceedings and environmental liabilities; the failure of customers, suppliers or business partners to fulfill their contractual obligations; and changes in business strategies. SJI assumes no duty to update these statements should actual events differ from expectations.
ABOUT SOUTH JERSEY INDUSTRIES
South Jersey Industries (NYSE: SJI), a member of the MSCI Global Climate Index, offers solutions to climate change and helps customers control energy costs. South Jersey Gas, one of the nation's fastest growing natural gas utilities, delivers clean, efficient natural gas and promotes energy efficiency to customers in southern New Jersey. SJI's non-regulated businesses, under South Jersey Energy Solutions, promote efficiency, clean technology and renewable energy by developing and operating on-site energy production facilities; acquiring and marketing natural gas and electricity for retail customers; providing wholesale commodity marketing and risk management services; and offering HVAC and other energy-efficiency related services. For more information about SJI and its subsidiaries, visit http://www.sjindustries.com.
###