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AGREEMENT REACHED ON DEMAND SIDE MANAGEMENT RESOURCE PLAN

 AGREEMENT REACHED ON DEMAND SIDE MANAGEMENT RESOURCE PLAN
 NEWARK, N.J., Oct. 15 /PRNewswire/ -- Public Service Electric and Gas Company (PSE&G) and various other participants involved in the Demand Side Management (DSM) proceedings before the New Jersey Board of Regulatory Commissioners (BRC) have reached agreement on PSE&G's comprehensive energy conservation plan designed to encourage investment in energy-saving DSM activities in New Jersey.
 The plan is in accord with the BRC's new rules that provide financial incentives to encourage greater utility investment in demand side management options. Demand side management, formerly known as energy conservation and load management, involves new techniques and technologies such as high-efficiency lighting and motors that help reduce customer demand for energy.
 PSE&G's plan is a two-phased approach -- core programs that include many of the energy conservation programs already available to customers, and a new performance-based program that offers payments for introducing DSM technology that results in measurable energy savings.
 PSE&G's core plan includes 25 energy conservation programs representing a first-year expenditure of $33.4 million. The core plan includes customer energy audits and rebates for high-efficiency refrigerators, heating, and cooling equipment, and conservation loans for low-income customers. Also included are programs to encourage use of energy-efficient compact fluorescent lighting, direct load control programs for residential customers, and information and conservation education for all customers, especially seniors' programs.
 The company's performance-based plan uses a "standard offer" technique that provides direct payments for kilowatthours of electricity and therms of gas saved through investments in demand side management. The contractual price paid for these savings is based on PSE&G's "avoided cost," which is the cost that would have been incurred by building new supply facilities to provide the same amounts of energy.
 The PSE&G plan calls for a two-year standard offer designed to save 150 megawatts (MW) of electricity. The plan also includes a pilot program designed to save six million therms of natural gas -- two million therms from the residential market and the remainder from industrial and commercial customers. (A therm is a unit of heat equal to 100,000 BTUs, or approximately 100 cubic feet of gas.)
 Under the standard offer, customers, independent energy service companies and PSE&G would be eligible to develop and offer demand side management projects to customers. All DSM contracts with customers are subject to regulatory approval.
 PSE&G said today that it has formed a subsidiary company -- Public Service Conservation Resources Corporation (PSCRC) -- to participate in the DSM marketplace. PSCRC will actively promote DSM projects in New Jersey.
 Frederick W. Lark, PSE&G vice president-marketing, said "Regulatory initiatives have paved the way for New Jersey to become a national leader in energy efficiency. We are on the way toward building a viable and enduring conservation and energy-efficient marketplace. This will create job opportunities in the DSM field in New Jersey, and also bring the economic and environmental benefits of increased energy efficiency to the state and its citizens."
 -0- 10/15/92
 /CONTACT: Jacqueline Donahue, corporate communications of PSE&G, 201-430-6021/
 (PEG) CO: Public Service Electric and Gas Company ST: New Jersey IN: UTI SU:


SH -- NY074 -- 0503 10/15/92 14:10 EDT
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Publication:PR Newswire
Date:Oct 15, 1992
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