PSEG Long Island Proposes $200 Million in Upgrades
How much is it going to take to decrease power usage and reduce energy bills for Long Islanders? More than $200 million! PSEG Long Island has proposed a plan to spend over $200 million during the next four years to help stabilize the grid and keep some cash in its customers’ pockets.
The plan, dubbed Utility 2.0, is mandatory under PSEG’s contract with LIPA and will create new processes and technologies to reduce energy consumption. New sources of energy will be strategically placed around Long Island, programmable thermostats will be installed, and buildings such as hospitals, apartment complexes, and businesses will be retrofitted to reduce demand for energy.
This massive project is aiming to lower customer bills by reducing energy usage and avoiding the cost of supply and system improvements. The utility’s 1.1 million customers will notice the change, but perhaps not right away. Due to the current rate freeze, customers may not see any changes until January 2016.
The plan seeks to “implement these investments to spur the development of a market from 2015 through 2018, allowing PSEG Long Island to incorporate the demand savings from this program into supply and system planning.”
David Daly, president and chief operating officer of PSEG Long Island, goes on to say, “We seek to implement these investments to spur the development of a market from 2015 through 2018, allowing PSEG Long Island to incorporate the demand savings from this program into supply and system planning.”
Depending on the approval of LIPA trustees, PSEG Long Island hopes to begin the project December 1st.
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