New Jersey Resources Corporation (NYSE:NJR) Q3 2023 Earnings Call Transcript

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Travis Miller : Yeah, more around the clean energy, the latter, yes, not as much the solar stuff, yeah.

Steve Westhoven : So I think with the clean energy, you’ve got kind of multiple discussions taking place currently. Predicting when those are going to come to conclusion and definitely they would fall into policy and then ultimately into place, I think it’s very hard to predict at this point in time. I think it’s safe to say there’s a lot of discussion that still needs to take place before that would happen. But just as a general comment, we talked about decarbonization, how we’re reducing emissions here at NJR, New Jersey Natural Gas. Now we’re going to continue forward in this path to be able to deliver cleaner fuels to our customers. Everyone knows about our hydrogen plant, our energy efficiency programs and certainly, our thoughts about the future that we’re going to continue to press this forward.

So we feel good in this alignment with the governor’s stated goals and certainly the state’s stated goals as well. But I think when those all will come to basically become part of regulation, I’m predicting at this point in time, but we look forward to it. I think we’re going to align nicely with the future goals of the state.

Travis Miller : Okay, sure. And remind me again, some of that will make it into the next rate case filing and especially on the hydrogen side. Is that correct?

Steve Westhoven : Well, so our hydrogen plant, remember, was already included and raised in our last rate case, which was they support box state and show that they’re supportive of clean energy and clean fuels.

Travis Miller : Okay, okay. And then on the solar side, any updates in terms of changes in supply ability to get to buy panels or costs? Anything along those lines?

Steve Westhoven : Yeah, nothing to add there. It’s business as usual. And you see that we’re bringing projects to completion and putting them into service. 75 megawatts in service this fiscal year. So we’re just moving forward and can continue to execute on the plan. So really nothing to talk about there.

Travis Miller : Okay. Great. That’s all I have. Thanks so much.

Steve Westhoven : Thanks, Travis.

Operator: [Operator Instructions] There are no further questions at this time. I will now turn the call back to Mr. Adam Prior for closing remarks.

Adam Prior: Thanks, everyone. I would like to thank all of you for joining us this morning. As a reminder, a recording of this call is available for replay on our website. And as always, we appreciate your interest in investing in NJR. Goodbye.

Operator: This concludes today’s conference call. We thank you for joining. You may now disconnect your lines.

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