This is great news.  It will run off the massive Transco pipeline that essentially covers the east coast. This project has been delayed for years and has force Ma and NY to outlaw new nat gas home installations.  It has also significantly driven up the price to existing home and business users.This pipeline will be sold out for years.The Relasse:Williams (NYSE: WMB) announced today a significant regulatory milestone for its Northeast Supply Enhancement (NESE) project, securing the Clean Water Act Section 40 ...

Core Points - Williams has secured key regulatory permits for the Northeast Supply Enhancement (NESE) project, which aims to improve energy affordability and reliability in New York City [1][2][3] Group 1: Project Overview - The NESE project is designed to expand access to natural gas infrastructure, displacing high-emitting fuel oil and enhancing energy security while lowering costs [2][4] - The project is expected to generate over $1 billion in investment, create thousands of construction-related jobs, and provide long-term benefits to New York residents and commercial energy users [2][5] Group 2: Economic Impact - NESE will deliver gas to 2.3 million homes, contribute $1.8 billion in economic development, and reduce CO2 emissions by over 13,000 tons annually, equivalent to removing 2,800 cars from the road each year [5] - The project will support over 3,000 jobs and generate millions in gross state product (GSP) and state tax revenues for New Jersey [5] Group 3: Additional Projects - Williams is also advancing the Constitution Pipeline project, which aims to provide low-cost, low-emissions energy supply to the Northeast, potentially generating up to $11.6 billion in total savings and supporting nearly 2,000 jobs annually over 15 years [6] - The Constitution project could stimulate up to $4.4 billion in additional GSP across several states and generate $432 million in federal and state tax revenues [6]

Financial Data and Key Metrics Changes - PSEG reported net income of $1.17 per share for Q2 2025, compared to $0.87 per share in Q2 2024, reflecting a 34% increase [17] - Non-GAAP operating earnings were $0.77 per share in Q2 2025, up from $0.63 per share in Q2 2024, marking a 22% increase [17] - For the year-to-date ending June 30, 2025, net income was $878 million, compared to $790 million in 2024 [18] Business Line Data and Key Metrics Changes - PSEG's utility segment reported net income of $332 million for Q2 2025, compared to $300 million in Q2 2024 [18] - PSEG Power and Other reported net income of $253 million in Q2 2025, up from $132 million in Q2 2024 [22] - The nuclear fleet produced approximately 7.5 terawatt hours in Q2 2025, an increase of 0.5 terawatt hours compared to the same period in 2024 [23] Market Data and Key Metrics Changes - The summer peak load reached 10,229 megawatts on June 24, 2025, the highest since 2013 [6] - The capacity auction results showed a price of $329 per megawatt day for the 2026-2027 energy year, up from $270 per megawatt day in the previous auction [24] Company Strategy and Development Direction - PSEG is focused on a $3.8 billion regulated capital investment program for 2025, aimed at infrastructure modernization and reliability [5][20] - The company is advocating for legislative decisions regarding energy affordability and resource adequacy in New Jersey [33] - PSEG's five-year capital spending plan is reaffirmed at $21 billion to $24 billion, supporting a projected rate base CAGR of 6% to 7.5% through 2029 [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the full-year 2025 non-GAAP operating earnings guidance of $3.94 to $4.06 per share, which is a 9% increase at the midpoint over 2024 results [15][26] - The management highlighted the importance of balancing affordability, reliability, and environmental policies in ongoing discussions with New Jersey legislators [96] Other Important Information - PSEG's total available liquidity as of June 30, 2025, was $3.6 billion, including $186 million in cash [25] - The company plans to execute its capital plan without the need to issue new equity or sell assets [26] Q&A Session Summary Question: Update on New Jersey Resource Adequacy Conference - Management indicated ongoing discussions without significant legislative changes at this time, emphasizing the need for decisions on reliability, affordability, and environmental goals [31][33] Question: Data Center Pipeline and Nuclear Plant Opportunities - Management noted increased interest in data centers in New Jersey, with ongoing discussions about nuclear plant opportunities [34][36] Question: New Generation in New Jersey - Management reiterated the need for new generation capacity in New Jersey, emphasizing the impact of neighboring states on local supply [41][43] Question: Capacity Auction Results and Future Projections - Management confirmed that guidance remains at the nuclear PTC floor, monitoring market conditions for future adjustments [45][46] Question: Affordability-Focused Bills - Management stated that no specific bills are currently prioritized, focusing instead on broader solutions for customer affordability [62][64] Question: Incremental Generation Potential - Management confirmed that engineering work for upgrades and refueling cycles is ongoing, with plans for future announcements [66][68]