New Jersey Resources Announces Executive Promotion

Rhea-AI Summary

New Jersey Resources (NJR) has named Angel Velez as Vice President in the company’s Energy Services business. Velez, a 17-year veteran of the organization, will provide strategic leadership to NJR’s wholesale natural gas marketing business and oversee operations and asset optimization. He will report to Sean Annitto, Vice President-Energy Trading. Velez's extensive market knowledge and expertise are expected to advance NJR's long-option strategy and identify growth opportunities.

Angel Velez Named Vice President-Energy Services

WALL, N.J.--(BUSINESS WIRE)-- New Jersey Resources (NYSE: NJR) today announced Angel Velez, a 17-year veteran of the organization, has been named a Vice President in the company’s Energy Services business.

“Angel Velez is a respected leader throughout our company and in the industry,” said Steve Westhoven, President and CEO of New Jersey Resources. “With his extensive market knowledge and expertise, I am confident he will play a key role in advancing our long-option strategy and identifying opportunities that support our business growth and deliver performance for our shareowners.”

In this role, Mr. Velez will provide strategic leadership to NJR’s wholesale natural gas marketing business and oversee operations and asset optimization. He will report to Sean Annitto, Vice President-Energy Trading.

Mr. Velez joined NJR in 2006 as an Energy Analyst before becoming an Energy Trader. He has held roles of increasing responsibility throughout his tenure, including Senior Energy Trader and most recently Managing Director, Trading & Operations. Prior to joining NJR, he worked as a Market Analyst and a Retail and Wholesale Natural Gas Scheduler at Hess Corporation. He is a graduate of Rutgers, the State University of New Jersey.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

• New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains natural gas transportation and distribution infrastructure to serve nearly 576,000 customers in New Jersey’s Monmouth, Ocean and parts of Morris, Middlesex, Sussex and Burlington counties.
• Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of approximately 469 megawatts, providing residential and commercial customers with low-carbon solutions.
• Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
• Storage and Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River Energy Center and the Adelphia Gateway Pipeline, as well as our 50% equity ownership in the Steckman Ridge natural gas storage facility.
• Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its over 1,300 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as SAVEGREEN™ and The Sunlight Advantage®.

For more information about NJR:
www.njresources.com
Follow us on X (formerly Twitter) @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240103209463/en/

Media:

Mike Kinney

732-938-1031

mkinney@njresources.com

Investor:

Adam Prior

732-938-1145

aprior@njresources.com

Source: New Jersey Resources

FAQ

Who has been named Vice President in New Jersey Resources' Energy Services business?

Angel Velez has been named Vice President in New Jersey Resources' Energy Services business.

What is the ticker symbol for New Jersey Resources?

The ticker symbol for New Jersey Resources is NJR.

What role will Angel Velez play in NJR's business?

Angel Velez will provide strategic leadership to NJR’s wholesale natural gas marketing business and oversee operations and asset optimization.

Who will Angel Velez report to in his new role?

Angel Velez will report to Sean Annitto, Vice President-Energy Trading.

What is Angel Velez's background in the energy industry?

Angel Velez has been with NJR since 2006, starting as an Energy Analyst and holding various roles, including Senior Energy Trader and Managing Director, Trading & Operations. Before NJR, he worked at Hess Corporation as a Market Analyst and Retail and Wholesale Natural Gas Scheduler.