The contribution from Energy Services enabled us to increase our NFE guidance for fiscal 2021 for the second time this year to a range of $2.05 to $2.15 per share from our original guidance of $1.55 to $1.65 per share.
At New Jersey Natural Gas, we filed a base rate case to recover almost $850 million of infrastructure investments in the settlement of our last rate case.
This includes costs associated with the Southern Reliability Link, which is over 90% complete and expected to be placed into service this fiscal year.
This new program authorized $259 million in spending over three years, furthering our commitment to sustainability by helping customers lower their energy usage, save money and reduce their carbon footprint.
At Clean Energy Ventures, we completed our first commercial solar project into service, adding 2.7 megawatts of installed capacity.
We are increasing our fiscal 2021 NFE guidance to $2.05 to $2.15 per share, an increase of $0.20 per share compared to our March 15 update.
As a reminder, guidance for fiscal 2022 is $2.20 to $2.30 per share.
And we are maintaining our long-term annual growth rate of 6% to 10% for fiscal 2022 NFE, excluding hedged services.
On March 30, we requested an increase to base rates of $165.7 million, equivalent to an increase of $118 million in operating income.
Since the conclusion of our last case in 2019, New Jersey Natural Gas has invested nearly $850 million to upgrade and enhance the safety and reliability of our transmission and distribution systems.
This includes the installation of the Southern Reliability Link at a cost of more than $300 million.
Looking at the top left, we invested $198 million this fiscal year with about 26% of the capex providing near real-time returns.
We added almost 3,700 new customers over the first six months of the year, below our regular growth rate due to the ongoing pandemic.
However, we still expect to add approximately 28,000 to 30,000 new customers during the three-year period from fiscal 2021 to 2023.
We now have over 360 megawatts of installed capacity.
Total invested capital at CEV for the first six months was $38 million.
However, we remain on track to meet our goal of adding incremental 160 to 180 megawatts of capacity by the end of fiscal year 2022.
Reported NFE of $170.6 million or $1.77 per share compared to NFE of $84.3 million or $0.88 per share in the second quarter of fiscal 2020.
Energy Services improved $94 million primarily due to higher financial margin compared to last year, the details of which I'll take you through on the next slide.
For fiscal 2021, we now expect to spend between $96 million and $180 million at CEV compared to our prior forecast of approximately $165 million.
We still expect to reach our goal of adding 160 to 180 megawatts of capacity over the two-year period.
On slide 13, you can see our product pipeline for fiscal 2021 and 2022 was about $255 million, which represents 80% of our targeted capex for the next two years.
Approximately 1/3 of our project pipeline is currently out-of-state projects.
And for the projects in New Jersey, we expect to earn an average TREC factor of 0.9 per kilowatt hour.
We have 93% of our 2024 volume hedge.
The market fundamentals for energy years 2025 to 2026 are supporting strong pricing, with SREC trading at or above 85% of SACP, with 36% and 10% hedged for 2025 and 2026, respectively.
CEV has a strong pipeline of projects that will allow us to reach our goal of adding 160 to 180 megawatts of capacity by the end of fiscal 2022.

Summary:
The contribution from Energy Services enabled us to increase our NFE guidance for fiscal 2021 for the second time this year to a range of $2.05 to $2.15 per share from our original guidance of $1.55 to $1.65 per share.
We are increasing our fiscal 2021 NFE guidance to $2.05 to $2.15 per share, an increase of $0.20 per share compared to our March 15 update.
Reported NFE of $170.6 million or $1.77 per share compared to NFE of $84.3 million or $0.88 per share in the second quarter of fiscal 2020.