JCP&L requested a review of its base electric rates by the New Jersey Board of Public Utilities (BPU) today. The proposed rate adjustment supports an approximately $185 million investments that strengthens the energy grid, enhance the customer experience and fund new low-income and senior citizen customer assistance programs.

Since its last rate review in 2020, JCP&L has made more than $794 million in investments to modernize and strengthen its electric grid. These investments help to reduce the size and length of power outages.

In addition, the rate review proposes the launch of two new customer assistance initiatives. A Senior Citizens Discount Program would provide income-eligible seniors with a discount on JCP&L’s distribution charges averaging $15 monthly, applied as a credit on their monthly bill for their primary residence. In addition, an Energy Assistance Outreach Team will be created to enhance the Company’s ongoing efforts to increase awareness, education, and participation in energy assistance programs available to eligible customers.

Because falling trees and tree limbs remain a leading cause of power outages, the proposal also includes an additional $11 million per year to maintain trees located outside of company rights-of-way that pose a threat to power lines.

The filing also includes the recovery of costs incurred by JCP&L from the impact of major storms, including Tropical Storm Isaias, the remnants of Hurricane Ida, 2021’s bow echo, Winter Storms Zeta and Elliott and other weather-related events. While JCP&L has taken steps to reduce this balance – such as applying proceeds from its sale of the Yards Creek Pumped-Storage Generating Facility – the current storm cost balance still exceeds the amount JCP&L was permitted to recover under its last rate adjustment.

Other items supported by the rate review include a program to begin transitioning streetlights from outdated, costly sodium vapor lights to energy efficient LEDs, with optional smart features that give municipalities more control of the fixtures.  Costs associated with the transition to a new “smart electric meter” system and JCP&L’s electric vehicle charging program, which are designed to support the state’s clean energy goals, are also included in the submission.

Upon approval of the base rate adjustment, JCP&L customers would continue to pay the lowest residential electric rates among New Jersey’s four regulated electric distribution companies. The average JCP&L residential customer using 780 kilowatt-hours per month would see a 7.5% overall rate increase – or $8.55 monthly.