PSEG Long Island filed its proposed Utility 2.0 Plan with the New York State Department of Public Service (DPS). If approved, the plan will enable PSEG Long Island to meet the changing needs of customers, advance technological progress, and support the goals set out by New York State’s Reforming the Energy Vision (REV) strategy.
The benefits proposed in the Utility 2.0 filing include:
- Reducing peak load, emissions, and energy usage
- Implementing cost-effective measures and technologies
- Lowering overall customer costs.
“PSEG Long Island has implemented programs and upgraded infrastructure to secure a reliable, cleaner, and more affordable energy future for Long Island. We lead New York State in deploying programs for energy efficiency and clean energy technology,” said Dan Eichhorn, president and COO of PSEG Long Island. “The Utility 2.0 Plan we are proposing will integrate more new technology into the electric grid during the next four years, giving Long Island and the Rockaways important tools to help reduce peak demand, save energy, and keep rates stable.”
The four-year Utility 2.0 Plan features new and expanded initiatives, including:
- Expansion of smart meter deployment that will make it easier for more customers to monitor and manage their energy use
- A suite of new rate structures designed to help customers save money and support New York energy goals
- An innovative “Super Savers” program designed to reduce peak demand for electricity in two designated areas
- Support for electric-vehicle charging infrastructure
- A demonstration of utility-grade battery storage
The $318 million request for the Utility 2.0 program is more than offset by savings in operating expenses and power supply charges resulting from more efficient operations. It is expected to deliver $593 million in benefits over the next 20 years as a result of new energy offerings, investments in technologies, and new business processes that will make daily operations more efficient for employees and customers.
“The Utility 2.0 plan is a big positive for customers,” said Rick Walden, vice president of customer services for PSEG Long Island. “The combined effect of the investments put forth in the plan will lead to savings for all customers, and reduce carbon dioxide emissions by nearly 303,000 tons over 20 years.
PSEG Long Island operates the Long Island Power Authority’s transmission and distribution system under a 12-year contract. PSEG Long Island is a subsidiary of Public Service Enterprise Group Incorporated (NYSE:PEG), a publicly traded diversified energy company with annual revenues of $9.1 billion.