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NJR FORMS NEW POWER SUBSIDIARY TO BE LED BY PROMINENT TECHNICAL EXPERT

NJR FORMS NEW POWER SUBSIDIARY TO BE LED BY PROMINENT TECHNICAL EXPERT
 WALL TOWNSHIP, N.J., April 8 /PRNewswire/ -- New Jersey Resources Corporation (NYSE: NJR) announced today that it has formed a new subsidiary to participate in the growing market for gas-fueled cogeneration and independent power production, and has recruited a nationally recognized technical expert to lead the new company.
 Dr. Michael J. Gluckman, director of the Integrated Energy Systems Division of the Electric Power Research Institute (EPRI), will join NJR May 1, 1992, as president of the new subsidiary, called Paradigm Power, Inc. Paradigm is the first new NJR subsidiary to be formed in nearly 10 years.
 Paradigm has been established to develop, build or invest in gas-fueled electric power production facilities. Such facilities may qualify as cogeneration facilities where they produce both electric and steam energy, or as independent power producers, which generally produce only electricity for sale to electric utilities.
 More than 40 percent of the new U.S. electric generating capacity planned for the next decade is expected to be fueled by natural gas, according to industry estimates. That prospective market complements the existing energy-related businesses of NJR and its subsidiaries.
 NJR Chairman and Chief Executive Officer Oliver G. Richard III said Paradigm will compete in the increasingly deregulated electric generation market. "We see great opportunities here for applying some of the most technically advanced, economically efficient and environmentally benign technology available today. And we're bringing in some of the best technical talent in the country to lead this new effort," he said.
 Beyond the opportunities for power sales to end-use customers or to electric utilities, Paradigm represents a logical complement to NJR's core natural gas energy business. Sales of NJR's principal subsidiary, New Jersey Natural Gas Company, are highly seasonal, with the greatest customer demand occurring in the coldest winter months, from December through February.
 That customer demand pattern could be balanced by the typical summer peak demands for electric power, which can be fueled best by natural gas. Balancing that seasonal demand profile remains a high priority for the company.
 "We see this opportunity as the answer to a variety of energy questions," Richard said. "First, it helps satisfy the need for clean and affordable electricity produced here in New Jersey. Second, our utility customers will benefit from the summer peak and year-round sales of gas to industrial customers. And, third, it's a good example of how coordinated planning and investment efforts can meet the energy and environmental goals of New Jersey's energy master plan."
 Gluckman is a nationally recognized expert in advanced power generation technologies, including gas turbine and combined-cycle power systems. These are generally considered "state of the art" systems for new generating plants because of their fuel efficiency, technical adaptability and environmental cleanliness. Natural gas combustion produces far less pollutants than other fossil fuels, and is most often the fuel of choice for cogeneration and independent power installations.
 EPRI is the research and development arm of the electric utility industry, based in Palo Alto, Calif. Associated with EPRI for nearly 20 years, Gluckman also served as technical director for engineering and economic evaluations in EPRI's Advanced Power Systems Division, and as project manager for the Institute's clean gaseous fuels program.
 He was heavily involved in the electric industry's pioneering, 100-megawatt coal gasification demonstration project, called the Cool Water Project, in California, and gained significant expertise in other power technologies, ranging from fuel cells to solar energy systems.
 In his most recent EPRI position, Gluckman oversaw engineering, research, environmental and economic assessments for the electric industry's advanced power systems development and integrated resource planning needs. His division was also responsible for guiding the strategic research and development plan for EPRI's $400 million research and development budget.
 He earned a Ph.D. in chemical engineering from City University of New York, where he also taught chemical engineering. He has published more than 50 technical papers and has been associated with the American Institute of Chemical Engineers since 1962.
 -0- 4/8/92
 /CONTACT: David M. Klucsik of New Jersey Resources Corporation, 908-938-1114/
 (NJR) CO: New Jersey Resources Corporation ST: New Jersey IN: UTI SU:


TS -- NY023 -- 6112 04/08/92 09:35 EDT
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Publication:PR Newswire
Date:Apr 8, 1992
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