Settlement Reached in JCP&L Rate Review
February 5, 2024
JCP&L has reached a settlement in its base rate review currently pending with the New Jersey Board of Public Utilities (BPU).
If approved by the BPU, the settlement will help JCP&L invest in enhancements that further strengthen our electrical infrastructure to benefit our 1.1 million New Jersey customers.
“This agreement allows us to continue to keep our rates the lowest in New Jersey,while moving forward with our customer-focused priorities: delivering safe, reliable and affordable electricity to the homes and businesses in our service area,” said JCP&L President Jim Fakult, “It also puts a spotlight on the assistance available to our customers facing financial hardship.”
The settlement includes several investments focused on strengthening the energy grid, enhancing customer experience and sustaining affordability. They include:
- Infrastructure upgrades to enhance the performance of 18 high-priority circuits that have a history of service disruptions.
- Increasing existing vegetation management investments to enhance tree trimming and other related work around wires.
- The launch of an Energy Assistance Outreach Team to enhance our ongoing efforts to increase awareness, education and participation in energy assistance programs available to eligible customers.
The settlement has been filed and is subject to final BPU approval. Review the full settlement on the BPU’s website.