PSEG, New Jersey’s largest utility, has boosted its investment up to $17 billion through 2025 to modernize its transmission, electric and gas distribution and clean energy infrastructure, the company said Sept. 27. The Investment includes added spending on energy storage, energy efficiency, electric vehicle infrastructure, methane reduction and electrification of the state’s transportation infrastructure, Ralph Izzo, the company’s chairman, president and CEO, said during an investor conference.
The plan will focus on last-mile electric system modernization through an investment proposal called the Infrastructure Advancement Program that is expected to be filed with New Jersey regulators in the coming months, he said.