JCP&L Asks State for 4.5 Percent Rate Hike

JCP&L wants to raise rates by 4.5 percent or more than $50 per year for the typical residential customer

Friday, Feb 22, 2013  |  Updated 9:31 PM EDT
View Comments (
)
|
Email
|
Print
JCP&L Asks State for 4.5 Percent Rate Hike

advertisement

New Jersey's second-largest utility has asked regulators for permission to raise rates to pay for recovery costs after Sandy and a slew of other storms that have hit the state in recent years.

JCP&L wants to raise rates by 4.5 percent or more than $50 per year for the typical residential customer.

The request filed Friday with the Board of Public Utilities includes a 1.5 percent increase requested in November. It was first reported by The Star-Ledger.

The company, which serves customers on the shore, says it spent $630 million to pay for damage caused by Sandy last year.

The request calls for recovering most of that from ratepayers.

Get the latest from NBC 4 New York anywhere, anytimeiPhone/iPad App | SMS AlertsTwitter | Facebook | Google+ | Instagram | RSS

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Follow us on Instagram!
We post photos taken by our news... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out