South Jersey Industries : South Jersey Resources Group to Supply Fuel Management Services to Caithness Moxie Freedom Project
FOR IMMEDIATE RELEASE
Investor Relations Contact: Marissa Travaline x4227
Media Contact: Dan Lockwood x4108
December 4, 2015
South Jersey Resources Group to Supply Fuel Management Services
to the Caithness Moxie Freedom Project
FOLSOM, NJ - South Jersey Industries, (NYSE:SJI), the energy holding company for South Jersey Energy Solutions, announced that SJES' subsidiary, South Jersey Resources Group has executed a 10-year contract to supply fuel management services with the Caithness Moxie Freedom Power Generation Plant. Under the terms of the contract, SJRG will be the exclusive provider of natural gas supplies and services associated with managing those supplies for the generating station.
The proposed facility is a clean natural-gas fueled 1,029 megawatt combined-cycle generating station located in Salem Township, Luzerne County, Pennsylvania. Commercial operations are expected to begin in 2018. Once built, the plant is expected to supply the power needs of more than one million homes in the PJM region. PJM is a regional transmission organization that coordinates the movement of wholesale electricity in all or parts of 13 states and the District of Columbia.
The unit, at maximum output, will burn up to 165,000 dekatherms of natural gas per day. One hundred percent of natural gas supplies will be purchased from Cabot Oil and Gas Corporation (NYSE:COG) under a groundbreaking power net back arrangement, which guarantees Cabot attractive rates of return while providing fuel costs in line with power prices which eliminates risks for each of the parties involved in the transaction.
"SJRG's commodity marketing program has allowed us to link generators to abundant and affordable natural gas supplies. We are excited to work with this new project in Pennsylvania and are excited about the opportunities SJRG has in the growing gas-fired merchant electricity generation industry," said SJRG President Gregory M. Nuzzo.
South Jersey Industries (NYSE: SJI), an energy services holding company based in Folsom, NJ, operates its business through two primary subsidiaries. South Jersey Gas, one of the nation's fastest growing natural gas utilities, delivers clean, efficient natural gas and promotes energy efficiency to approximately 370,000 customers in southern New Jersey. SJI's non-regulated businesses, under South Jersey Energy Solutions, promote efficiency, clean technology and renewable energy by developing, owning and operating on-site energy production facilities - including Combined Heat and Power, Solar, and District Heating and Cooling projects; acquiring and marketing natural gas and electricity for retail customers; providing wholesale commodity marketing and fuel supply management services; and offering HVAC and other energy-efficiency related services. For more information about SJI and its subsidiaries, visit http://www.sjindustries.com.
About Moxie Energy LLC
Moxie Energy, LLC was formed to develop, own, and operate clean energy infrastructure projects, and to provide consulting services to the energy industry.
About Caithness Energy, L.L.C.
Caithness Energy, L.L.C. is a privately held, New York-based independent power producer. For over 25 years, Caithness has been a pioneer in the development of clean, reliable energy. Caithness specializes in the development, acquisition, operation, and management of renewable energy and clean natural gas development projects.
About Cabot Oil & Gas Corporation
Cabot Oil & Gas Corporation (NYSE:COG), headquartered in Houston, Texas is a leading independent natural gas producer, with its entire resource base located in the continental United States.
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Source: South Jersey Industries via Globenewswire