NJR Energy Services
NJR ENERGY SERVICES AND WASHINGTON GAS LIGHT COMPANY ENTER AGREEMENT TO OPTIMIZE NATURAL GAS SUPPLY PORTFOLIO
05/05/2006 - For Immediate ReleaseEffective May 1, 2006, NJRES began optimizing a select group of natural gas transportation and storage assets under contract by Washington Gas, allowing the utility to leverage NJRES’ operating efficiencies. NJRES has a proven track record of providing reliable asset management options, lowering costs and providing value by offering customers unique and flexible options.
“We are excited at the prospect of delivering added value to the reliable service Washington Gas has historically provided to their customers and other stakeholders,” said Joseph P. Shields, senior vice president of NJRES. “We look forward to assisting Washington Gas in optimizing its portfolio of assets.”
About NJR Energy Services
NJR Energy Services (NJRES), a subsidiary of New Jersey Resources Corporation (NYSE: NJR), provides unregulated wholesale energy services to customers in states from the Gulf Coast to New England, and Canada. NJRES is a leader in the unregulated energy services market, providing outstanding customer service and expert management of natural gas storage and capacity assets. NJRES’ experienced team of industry experts helps customers maintain their competitive edge with services that include natural gas supply, pipeline capacity and storage management. NJRES maintains storage positions in the Gulf Coast, Appalachia, Mid-Continent and Canada. NJR, the parent company of NJRES, is a Fortune 1000 company and a member of the Forbes Platinum 400. For more information, visit the NJRES Web site at njliving.com.
About Washington Gas Light Co.
Washington Gas provides natural gas service to approximately one million residential, commercial and industrial customers throughout Washington, DC, and the surrounding region. Washington Gas is a regulated subsidiary of WGL Holdings, Inc., a public utility holding company. Since 1848, Washington Gas has met the energy needs of the greater Washington Metropolitan area safely and reliably. The company serves approximately 408,000 customers in Maryland; over 432,000 customers in Virginia; and more than 149,000 customers in the District of Columbia. The Washington Gas distribution system comprises approximately 9,693 miles of main.
Washington Gas is one of the fastest growing natural gas utilities with an average meter growth of nearly 3 percent each year, a rate more than double the national industry average. Natural gas still remains the fuel of choice in more than 90 percent of new homes built in the Washington, DC, metropolitan region.
Contact:
Michael Kinney, Media
732-938-1031
Dennis Puma, Investors
732-938-1229
Beacon Technologies, Inc.
