SJI
#I see what you're saying.
It is the change.
You know what, let's see.
I was going to say, how about if I just have <UNK> follow-up with you with the individual piece there.
Well, that 1.2% is for the full year, not for the quarter.
But I would expect that you will continue to see growth somewhere in the 1.2% to 1.5% range, largely driven by conversions.
I think it will be very similar to what it's been for the past four or five years.
New construction continues to be steady.
It's certainly not at the pace it was pre-recession.
And I don't really think anything in South Jersey is pointing to some kind of aggressive kind of growth in new construction.
But as far as geographically, most of the new construction and most of the growth is coming in the Western part of our service territory.
And I think that's largely the result of Philadelphia's economy being a little bit stronger right now than Atlantic City's, quite frankly.
The thing I think is important, though, is that I wouldn't get completely fixated on the actual customer growth number as much as the margin growth as well.
Because what we are seeing right now is strong growth in our commercial market, which is allowing us to have significantly higher growth rates in terms of margin.
I believe ---+ <UNK>, what was the margin growth number year-over-year.
4.
2%, margin growth.
Which, again, is I think a very strong indication of the success of our targeted marketing efforts as well.
No, well, it's not quite large factories yet.
But when we get PennEast put in and we can start bringing that cheap Marcellus gas into South Jersey, we expect to see some new factories crop up.
No, it's primarily commercial.
There's a lot of healthcare facilities that have come up and ---+ over the last few years in New Jersey.
The hospitality industry outside of Atlantic City continues to grow.
And you are seeing a lot of conversions in the commercial industry as well (multiple speakers).
I do this every time.
I shut my slide deck down and forget my little wrap up.
So, before we wrap up, as always, please free to contact <UNK> <UNK>, our Director of Investor Relations, or Ann Anthony, our Treasurer, if any follow-up questions arise.
<UNK> can be reached at 609-561-9000, extension 4227, or by email at mtravaline@sjindustries.com.
Ann can be reached at extension 4143 or by email at aanthony@sjindustries.com.
Again, thank you for joining us today and for your continued interest and investment in SJI.
