JCPL seeks rate increase as it rebuilds from Sandy

NJBIZ STAFF//February 25, 2013//

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Jersey Central Power & Light, in Morristown, on Friday filed a rate request to recover costs associated with rebuilding its electrical infrastructure following Hurricane Sandy.If approved by the Board of Public Utilities, JCP&L’s rate filing would result in about a 4.5 percent overall rate increase for an average JCP&L residential customer using 650 kilowatt-hours of electricity, the company said. The average monthly bill would increase from $98.10 to $102.54, or $4.44, for a customer using 650-kilowatt hours of electricity.
The company announced last week it plans to spend $200 million to harden its infrastructure against future storms.