Legalectric

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Yes, indeed, PSEG is making things work for us…

PSEG has announced through its 2Q report that the Susquehanna-Roseland transmission line will be delayed until at least 2015.  Just like the Brookings line part of CapX 2020!  Funny how that works.

PSEG – 2nd Quarter – Press Release

Here’s what they said in this about D-E-L-A-Y of the Susquehanna-Roseland transmission line – two little snippets:

Ralph Izzo indicated that PSE&G has notified the PJM Interconnection that the in-service date for the eastern portion of the Susquehanna-Roseland transmission line has been delayed by 2 years to 2014 with the in-service date for the western portion of the line delayed until 2015. He added, “We are disappointed by the delay, but look forward to meeting the region’s reliability requirements in partnership with our regulators and PJM.”  The delays are due to on-going environmental permit reviews.
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PSE&G notified PJM that it has not obtained certain environmental approvals that are required for completion of the Eastern and Western segments of the Susquehanna – Roseland transmission line. Consequently, at this time, we do not expect the Eastern portion of the line to be in service before June 2014, and we do not expect the Western portion to be in service before June 2015.

You can learn more about the Susquehanna-Roseland transmission project at www.stopthelines.com!

Interesting 2Q report, some pretty juicy dry numbers here, look how far down their net income was, and look at how their bottom line recovered — it’s those “excluded items” that make the difference:

As Business Week notes:

PSEG 2Q profit falls 21.5 percent

It’s hard to type that headline without two or three exclamation points!!!

Here’s the report from the Star-Ledger:

PSE&G delays construction of controversial Susquehanna-Roseland power line

Published: Friday, July 30, 2010, 4:14 PM
Brian T. Murray/The Star-Ledger

Public Service Electric & Gas announced this morning a three-year delay in completing its controversial Susquehanna-Roseland transmission lines, which will cut across New Jersey’s protected, water-rich Highlands.

PSE&G broke the news in its second-quarterly earnings report, explaining that obtaining environmental approvals has taken longer than anticipated. The announcement came just days after the state Department of Environmental Protection found the company’s wetlands permit applications incomplete.

Now, the $750 million power project the company hoped to complete by 2012 will not be done until 2015.

The New Jersey Highlands Coalition and the New Jersey chapter of the Sierra Club, two groups opposed to the project, said it may be the beginning of the end for the power line. But PSE&G said it plans to move forward, contending the power lines are needed to prevent blackouts and keep the region’s power grid reliable.

“We are disappointed by the delay, but we are going to work with the regulators. … We are still committed to constructing the line. It’s just going to be delayed,” said PSE&G spokeswoman Deann Muzikar.

Already approved by the state Board of Public Utilities and the New Jersey Highlands Council, the project involves a 500,000-volt transmission line along a 146-mile route between Pennsylvania and northern New Jersey and erecting 500-kilovolt transmission towers along a path where smaller, 230-kilovolt towers already exist. The main hurdle has been the National Park Service, which must approve a western leg of the line to run through the Delaware Water Gap National Recreation Area, Middle Delaware National Scenic and Recreational River and the Appalachian National Scenic Trail.

PSE&G split the project into two segments earlier this year, hoping to at least begin construction this summer on an eastern leg between Hopatcong in Sussex County and Roseland in Essex County. But that strategy caused trouble for its wetlands permit reviews by the DEP, which noted the BPU had approved the project in one piece, not in a bifurcated process.

Additionally, the National Park Service has stood firm on its plan to delay action until 2012, as it holds public hearings and considered alternative routes for the line. Three hearings are scheduled for Aug. 17 through Aug. 19 in Pennsylvania and Sussex County.

Environmental groups, contending the project will ruin sensitive land and promote polluting, coal-generated electrical plants in the west, applauded the park service for its careful approach.

“PSE&G has been playing a high-stakes game of chicken with the public and regulators, whom they are now blaming for their not getting their permits on a fast track. This doesn’t surprise us, considering the vast environmental and scenic damage that will be imposed on the Highlands for this risky, ill-conceived, and expensive project,” said Julia Somers of the Highlands Coalition.