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New Jersey Board of Public Utilities (USA) World Forum on Energy Regulation Québec City, Canada May 15, 2012 Jeanne M. Fox, Commissioner.

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Presentation on theme: "New Jersey Board of Public Utilities (USA) World Forum on Energy Regulation Québec City, Canada May 15, 2012 Jeanne M. Fox, Commissioner."— Presentation transcript:

1 New Jersey Board of Public Utilities (USA) World Forum on Energy Regulation Québec City, Canada May 15, 2012 Jeanne M. Fox, Commissioner

2 U.S. ELECTRIC POWER INDUSTRY NET GENERATION 2011 SOURCE: EIA, MONTHLY ENERGY REVIEW, MARCH 2012, TABLE 7.2A ELECTRICITY NET GENERATION.

3 U.S. ENERGY CONSUMPTION BY SOURCE 2011 SOURCE: EIA, MONTHLY ENERGY REVIEW, MARCH 2012, TABLE 1.3 PRIMARY ENERGY CONSUMPTION BY SOURCE (QUADRILLION BTU), 7

4 New Jersey’s 2011 Energy Master Plan (EMP) Statue states that the EMP shall: Include long–term objectives with interim implementation measures Gives consideration to energy needs and supplies across the State Involves consultation with federal or state agencies involved in production, use, consumption or conservation of energy New Jersey Board of Public Utilities’ Role Revise the 2008 Energy Master Plan Coordinate Input with other state agencies Facilitate the public comment process Final EMP implementation

5 2011 EMP’s 5 Major Goals 1. Drive down Cost of Energy for all Customers 2. Promote a diverse portfolio of new, clean in-State generation 3. Reward energy efficiency and energy conservation and reduce peak demand 4. Capitalize on emerging technologies for transportation and power production 5. Maintain support for the renewable energy portfolio standard of 22.5% of energy from renewable sources by 2021.

6 New Jersey’s Energy Mix 2010 Existing Capacity in New Jersey by Fuel Type (MW and %) New Jersey generating capacity totals 17,227 MW, about 84% of New Jersey’s peak load of 20,548 MW in New Jersey Energy Generation by Fuel Type (MWh and %) Source: EIA

7 New Jersey Generating Capacity ( ) Source: EIA Northeast Region Natural Gas Pipeline Network

8 New Jersey Electric Generation ( ) Adding renewable energy coupled with other demand side technologies portends greater supply and demand diversity as we move forward. Adding renewable energy coupled with other demand side technologies portends greater supply and demand diversity as we move forward. Source: EIA

9 New Jersey Electric Imports ( ) PJM Interconnection is a regional transmission organization (RTO) that coordinates the movement of wholesale electricity in all or parts of 13 states and the District of Columbia. PJM’s role as a federally regulated RTO means that it acts independently and impartially in managing the regional transmission system and the wholesale electricity market. PJM ensures the reliability of the largest centrally dispatched grid in North America. The degree to which New Jersey has relied on imports has varied over time. While about 25% of State-wide use was via imports in 2009, one decade earlier total imports were about one-half of the State’s needs. Source: EIA Fuel Mix of Existing PJM Installed Generating Capacity

10 Infrastructure Expansion Federal Energy Regulatory Commission (FERC) - is an independent agency that regulates the interstate transmission of electricity, natural gas, and oil.

11 Nuclear Plants in New Jersey Nuclear Regulatory Commission’s (NRC) regulatory activities are focused on reactor safety oversight and reactor license renewal of existing plants, materials safety oversight and materials licensing for a variety of purposes, and waste management of both high-level waste and low-level waste. In addition, the NRC is preparing to evaluate new applications for nuclear plants.

12 Long-Term Capacity Agreement Pilot Program (LCAPP) LCAPP was designed to promote the development of 2,000 MW of new baseload and/or mid-merit generation facilities for the benefit of New Jersey’s electric consumers. Newark Energy Center Old Bridge Clean Energy Center Woodbridge Energy Center SponsorHess Newark, LLC New Jersey Power Development LLC CPV Shore, LLC Unforced Capacity625.0 MW660.1 MW663.4 MW LocationNewark, NJOld Bridge, NJWoodbridge, NJ Technology TypeCombined Cycle Fuel TypeNatural Gas First SOCA Year Term15 years Benefits Improve electric grid reliability within New Jersey Produce economic benefits including job creation and a present value savings of approximately $1.8 billion for New Jersey’s electricity consumers. Improve Environmental Impacts

13 New Jersey’s Clean Energy Program New Jersey's Clean Energy Program™ promotes increased energy efficiency and the use of clean, renewable sources of energy including solar, wind, geothermal, and sustainable biomass. NJCEP offers financial incentives, programs, and services for residential, commercial, and municipal customers.

14 Renewable Energy Success

15 Solar Renewable Energy Credits - SRECs Capital cost of system – large initial investment Cash Outflow Cash Inflow Federal Investment Tax Credit SRECs inbound cash flow based on the actual production of energy from the system Energy - savings O & M – Minimal maintenance Year Solar Alternative Compliance Payment (SACP)

16 New Jersey’s Renewable Portfolio Standard Source: DOE Database of State Incentives for Renewables and Efficiency U.S. States with Solar Provisions in Their RPS Policies

17 Advantages of a Diverse Supply Portfolio Mitigates risk Greater flexibility to redress future events Mitigates risk Greater flexibility to redress future events New Jersey currently reviewing diverse in-State supply options: Increasing conventional generation resources Encouraging indigenous renewable resources Reducing peak demand through Energy Efficiency and Demand Response

18 Thank you. New Jersey Board of Public Utilities (USA) Jeanne M. Fox, Commissioner Please visit NJCleanEnergy.com or call 866-NJSMART for more information!


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