TRENTON – Power companies do not always know when individual customers are in the dark and installing “smart meters” can change that, the head of Public Service Electric & Gas told lawmakers today.
However, installing smart meters around the state could cost between $500 million and $700 million, said Ralph LaRossa, president and CEO of PSE&G as lawmakers examined utility successes and failures in the wake of the superstorm.
LaRossa described how New Jersey is trailing other states when it comes to installing smart meters, explaining the fact that power companies do not always know when a customer is out of power can delay repair times.
The prospect of installing smart meters across the state is one of several recommendations or ideas utility companies are expected to suggest to Senate lawmakers about where to move forward following the devastation of superstorm Sandy.
Jersey Central Power & Light Company officials told lawmakers it would cost them $400 million to invest in smart meters.