Thursday, March 30, 2017

AC Electric Files For $70 Million Rate Hike

Atlantic City Electric filed for a rate hike on Thursday totaling $70.2 million to pay for infrastructure upgrades.
If the New Jersey Board of Public Utilities approves the request, the typical customer using 716 kilowatt hours per month would see a monthly bill increase of about $9, from $136.90 to $145.90, according to a statement from the company.

“Modernizing our energy infrastructure is critical to providing quality service to our customers who rely on us to power their lives and the southern New Jersey economy,” said Vince Maione, Atlantic City Electric region president. “We live in South Jersey, too, and understand that our customers expect resilient, reliable electrical service every day – in stormy weather and on blue sky days – and this request reflects our commitment to investing in a system that continues to deliver just that.”

Atlantic City Electric spent nearly $160 million in 2016 to maintain and upgrade its infrastructure that included a new distribution substation in Cape May County and the replacement of hundreds of deteriorated utility poles throughout its service territory.
The company also completed nearly 30 separate substation projects that included new transformers, switchgear and other equipment, according to the statement.

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