PSE&G’s program is the first approved under this new framework developed by the New Jersey Board of Public Utilities (BPU).
The June order creating the framework “laid the groundwork” for a performance-based cost recovery approach for utility regulation, according to a statement from the Energy Efficiency Alliance of New Jersey. “Decoupling profits from energy sales will lead to a major shift in how utilities look at making money,” Erin Cosgrove, director of regulatory affairs for the alliance, said in the statement. The BPU is still developing more comprehensive utility cost recovery and efficiency plans.
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