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South Jersey Resources Group To Provide Service to Marcus Hook Facility
FOLSOM, N.J. -- South Jersey Industries, (NYSE:SJI), the energy holding company for South Jersey Gas and South Jersey Energy, announced that its wholly owned subsidiary, South Jersey Resources Group, has entered into a 5-year agreement to supply fuel management services to FPL Energy's Marcus Hook cogeneration facility. The 750-megawatt facility, which is currently under construction in Philadelphia, PA., will serve the Sunoco refinery and produce electricity to sell into the market.
Starting in spring 2004, SJRG will supply up to 80,000 dekatherms per day and over 29,000,000 dts annually at market-based prices and will manage load requirements on a daily basis. For comparison purposes, SJRG will provide enough gas to the Marcus Hook site annually to supply approximately 292,000 homes.
"FPL Energy is pleased to work with South Jersey Resources Group to bring clean natural gas to our Marcus Hook facility," stated Mike Leighton, senior vice president and chief operating officer of FPL Energy.
According to SJRG President Edward Graham, SJRG is able to provide a supply management product that fits into South Jersey Industries' low-to-moderate risk strategy. Additionally, this arrangement positions SJRG for further growth in the Northeast market."
South Jersey Industries is an energy services holding company for South Jersey Gas, South Jersey Energy, Marina Energy LLC and South Jersey Resources Group, LLC. Visit www.sjindustries.com for more information about SJI and its subsidiaries.
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