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New Jersey-based Public Service Electric and Gas Co. (PSE&G), a subsidiary of Public Service Enterprise Group Inc., has reached a $1.22 billion settlement in its Energy Strong proposal that the utility says will proactively protect and strengthen its electric and gas systems against severe weather conditions.

The stipulation, signed by the staff of the New Jersey Board of Public Utilities (BPU), is now being assessed by the other parties and participants in the case and will be submitted to the BPU for review and approval.

In a filing with the BPU in February 2013, PSE&G notes it had sought approval to invest $2.6 billion over five years to harden its electric and gas systems, with the ability to seek approval to spend an additional $1.3 billion in the following five years to complete the proposed $3.9 billion, 10-year program.

Pending BPU approval, PSE&G will make the following investments:

- $620 million to raise, relocate or protect 29 substations that were damaged by water in recent storms;

- $350 million to replace and modernize 250 miles of low-pressure cast iron gas mains in or near flood areas;

- $100 million to create redundancy in the system, helping to reduce outages when damage occurs;

- $100 million to deploy smart grid technologies to better monitor system operations; and

- $50 million to protect five natural gas metering stations and a liquefied natural gas station.

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