The New Jersey Board of Public Utilities (BPU) has rejected a proposal to disallow from rates "potentially stranded costs" incurred by Atlantic City Electric Co., an electric utility, under...
New Jersey is Cautious on NGV Investment
The New Jersey Board of Public Utilities (BPU) has once again refused to grant "blanket approval" of an investment program for natural gas vehicle (NGV) refueling stations proposed by Public Service Electric and Gas Co. (PSE&G). Earlier, the BPU had approved parts of an NGV development program, including an experimental resale rate for fuel supplies and a vehicle conversion rebate, but had offered only "conceptual" support for development of refueling stations.
After the initial rebuff, PSE&G had modified its development proposal to include leases, finding gasoline dealers reluctant to invest the large sums necessary for new infrastructure. Nevertheless, the BPU ruled that the utility had failed to provide sufficient detail on the plan to justify a blanket approval. It said that PSE&G's revised plan envisioned a new venture (public natural gas refueling stations) "which almost by definition is not in the ordinary course of business." It added that no further board action was required if the program remained shareholder funded. Re PSE&G Co., Dkt. No. GT93060242, July 10, 1995 (N.J.B.P.U.).
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