PSE&G, state reach tentative plan to replace aging gas lines
State regulators and New Jersey's largest utility have reached a tentative $905 million settlement to replace aging natural gas mains.
Public Service Electric and Gas in March sought to spend $1.6 billion over five years to replace 800 miles of cast iron and unprotected steel gas pipes and 55,000 unprotected steel service lines to homes and businesses.
Under terms of the deal, PSE&G will replace up to 510 miles of gas mains and 38,000 service lines over a three-year period.
If approved by the state Board of Public Utilities, customers would fund the work through a surcharge and a rate increase. The utility says a typical residential customer will pay $4.82 more on their average monthly bill.
PSE&G serves 2.2 million customers in New Jersey.