JCP&L and BPU reach agreement on energy charge.

MORRISTOWN, N.J.--(BUSINESS WIRE)--June 4, 1996--Jersey Central Power & Light Company (JCP&L) has reached an agreement with the New Jersey Board of Public Utilities (BPU) that provides the company with an increase of $27.9 million in its levelized energy adjustment clause (LEAC) and demand side factor (DSF) components of rates.

The agreement, which becomes effective immediately, was approved by the BPU following a comprehensive review by its Staff and the Division of Ratepayer Advocate. JCP&L filed its request with the BPU in December. The LEAC/DSF can be adjusted annually to provide for changes in the cost of fuel, energy purchases and demand side management programs.

"Several factors, including the outstanding performance of the Oyster Creek and Three Mile Island Nuclear Generating Stations, helped to minimize our LEAC request," said Mike Filippone, JCP&L director of rates. "This agreement reflects the significance their reliability played in accounting for savings of approximately $19 million in replacement fuel costs."

Under the agreement, a residential customer using an average of 500 kilowatt-hours monthly and paying $61.79 would experience an increase of $0.85 monthly, or 1.4 percent.

CONTACT: Jersey Central Power & Light Company, Morristown

Ron Morano, 201/644-4297

or

Donna Rovins, 201/455-8408