REMARKS OF SEEMA M. SINGH, ESQ.
RATEPAYER ADVOCATE AND DIRECTOR
OF THE
NEW JERSEY DIVISION OF THE RATEPAYER ADVOCATE
I/M/O the Joint Petition for a Proposed Change in Ownership
and
Acquisition of Control of NUI Utilities, Inc.
BPU Docket No. GM04070721
PUBLIC HEARING
Municipal Council Chambers
Woodbridge Town Hall
One Main Street
Woodbridge, New Jersey
Tuesday, August 31, 2004 – 2:00 PM
Good Afternoon. My name is Seema M. Singh, and I am the Ratepayer Advocate for the Division of the Ratepayer Advocate for the State of New Jersey. Our office was created by the New Jersey Legislature to represent ratepayers in matters such as this involving public utility service.
On July 30, 2004, NUI Utilities, Inc. d/b/a/ Elizabethtown Gas Company (“NUI”) and AGL Resources (AGLR”) jointly filed a petition for a change of ownership and control of NUI to AGLR before the New Jersey Board of Public Utilities (“the Board” or “BPU”). If the Board approves the joint petitioners’ request for a change of control or merger between NUI and AGLR, NUI will become one of AGLR’s sister companies providing natural gas utility service to ratepayers in New Jersey.
NUI and AGLR have also requested that the BPU review their petition in an expedited manner due to the current volatility of gas prices and NUI’s current financial status. According to the New Jersey laws and regulations controlling mergers of public utilities, there are four areas or factors that must be considered by the Board before granting approval – 1. the impact on competition; 2. the effect on the rates paid by ratepayers; 3. the impact on the employees of the concerned utilities; and 4. the effect on the rendering of safe and adequate utility service at just and reasonable rates.
Our office will carefully review the pending petition considering each of the above-mentioned criteria to ensure New Jersey ratepayers are being protected in this proposed merger.
Our office is continuing a comprehensive review of the petition based on the information that is being supplied and updated by the Joint Petitioners. We have retained the services of an expert consultant to assist us in our review. The Ratepayer Advocate's inquiry is focused on the critical issues of whether the joint proposal allows ratepayers to continue to receive safe, reliable and proper service. The BPU will make the final decision regarding the joint proposal.
The purpose of this hearing is for you, the customer, to voice your opinion, relate your experiences and offer comments about this matter. It is important that you express your views so they may become part of the record on which the Board makes its decision. The Ratepayer Advocate also needs to hear your views. Your active participation is strongly encouraged to help in our evaluation of the Company's proposals.
This hearing is being transcribed and your comments will become part of the record. I would like to reiterate the importance of your participation so that the Ratepayer Advocate can have a clear record of your concerns and interests.
On behalf of the Ratepayer Advocate, thank you for attending today's hearing.