A new study shows the PennEast Pipeline, had it been constructed two years ago, would have already saved NJ/PA consumers some $1.3 billion in energy costs.
Independent market experts Concentric Energy Advisors have issued a new report finding the PennEast Pipeline could have saved New Jersey and eastern Pennsylvania families and businesses $435 million in energy costs last winter, according to a news release from PennEast. And, that’s just the beginning.
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Here’s the remainder of the study announcement from PennEast (emphasis added):
The report conservatively excluded “extreme peak days,” like January 5, 2018, when natural gas prices in the New Jersey market reached 31 times higher than the Pennsylvania supplies the PennEast Pipeline will access.
Concentric now has found that in two recent winters alone, the PennEast Pipeline would have saved the region more than $1.3 billion if it were operational.