In a filing with the New Jersey Board of Public Utilities, the company is seeking approval to spend $698 million in accelerated investments in electric and gas distribution system capital projects. A second filing seeks approval for the company to spend an additional $190 million to encourage conservation and create green jobs. If approved, both initiatives would create nearly 1,700 jobs, said the company.

Ralph LaRossa, president and COO of the Public Service Electric and Gas Company (PSE&G), said: “PSE&G’s proposals are in direct response to Governor Jon Corzine’s call for utilities to invigorate the economy as part of his Economic Assistance and Recovery Plan announced in October 2008.

“The proposals we filed will expand these critical initiatives so that more customers can get benefit. In addition, we are planning infrastructure investments to enable the company to continue to provide safe and reliable electric and gas service to more customers.”

Public Service Electric and Gas Company (PSE&G) claims to be New Jersey’s oldest and largest regulated gas and electric delivery utility, serving nearly three-quarters of the state’s population. PSE&G is a subsidiary of Public Service Enterprise Group Incorporated (PSEG), a diversified energy company.