PSE&G Lauded for Innovative Energy Efficiency Program for Hospitals
NJ Utility Named an NJBIZ Healthcare Hero
NEWARK, N.J., June 20, 2012
NEWARK, N.J., June 20, 2012 /PRNewswire/ --PSE&G, New Jersey's largest
utility, was named an NJBIZ "Healthcare Hero" yesterday in recognition of its
innovative energy efficiency program for hospitals. The award was given as
part of the newspaper's annual program that honors the efforts of individuals
and organizations that are making a significant impact on the quality of
health care in New Jersey.
PSE&G won in the innovation category for its $129 million hospital energy
efficiency initiative, one of only four programs in the U.S. that
specifically targets hospitals for energy efficiency improvements and the only
one in which the utility bears all of the upfront capital costs.
"While investing in energy efficiency may seem like an unconventional role for
a company like ours, it's where we see the utility of the future," said Ralph
LaRossa, PSE&G's president and chief operating officer. "We have been
providing energy solutions to our customers for over 100 years and this is a
natural extension of our work. Helping our customers make the sometimes costly
upfront investments in energy efficiency allows them to use energy wisely,
reduce their costs and help the environment. We're incredibly proud of our
work in this realm and honored to share the spotlight with people and
organizations that are making New Jersey better."
Hospitals are prime candidates to reduce energy consumption because they are
24-hour- a-day, seven-day-a-week facilities that use large amounts of energy.
Large upfront costs and long pay-back times associated with energy efficiency
improvements can make it difficult for hospitals to make investments that
would lower their energy bills and help their bottom line.
PSE&G's program helps hospitals reduce the fiscal burden associated with
making capital improvements that can reduce energy costs. It allows hospital
leaders to make energy efficiency upgrades without distracting them from their
core mission of providing quality healthcare and achieving positive outcomes.
It frees up money and creates savings that can be invested in life-saving
equipment and training.
The utility provides hospitals with a free investment-grade audit, then
proposes various cost effective energy conservation measures that will make a
substantial impact on the hospital's energy efficiency and utility costs.
These upgrades might include replacing boilers, chillers, motors and pumps or
installing sophisticated energy management systems, high efficiency lighting,
PSE&G provides up-front funding for this work, and the hospital repays a
portion of the total cost at zero percent interest over 36 months. For the
hospitals currently enrolled in the program, the average amount they will
repay is about 30 percent. Once the hospital's portion of the grant is
repaid, the utility savings continue to benefit their bottom line.
NJBIZ's Healthcare Heroes honors the people and organizations that are leading
New Jersey through a rapidly changing health care landscape. More than 350
hospital and healthcare professionals attended the awards breakfast at The
Palace at Somerset Park.
Public Service Electric and Gas Company (PSE&G) is New Jersey's oldest and
largest regulated gas and electric delivery utility, serving nearly
three-quarters of the state's population. PSE&G is the winner of the
ReliabilityOne Award for superior electric system reliability. PSE&G is a
subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE:PEG),
a diversified energy company (www.pseg.com).
Want to know what's new at PSEG? Go to www.pseg.com/getnewsand sign up to
have our press releases sent right to your inbox.
SOURCE Public Service Electric & Gas Company (PSE&G)
Contact: Jenn Kramer, +1-973-430-6027
Press spacebar to pause and continue. Press esc to stop.