Printer Friendly

JCP&L REACHES AGREEMENT ON ENERGY CHARGE

 JCP&L REACHES AGREEMENT ON ENERGY CHARGE
 MORRISTOWN, N.J., April 15 /PRNewswire/ -- The New Jersey Board of


Regulatory Commissioners (BRC) today approved an agreement that provides Jersey Central Power & Light Company with an increase in its levelized energy adjustment clause (LEAC) of approximately $44 million, or about 2.5 percent.
 Today's agreement, which would become effective immediately, is the result of a comprehensive review by the BRC, its staff and rate counsel of the company's December 1991 request. The company's LEAC is adjusted annually to provide for increases or decreases in the cost of fuel and energy purchases. The LEAC is a pass-along charge on which the company earns no profit.
 "In addition to fuel costs, the costs included in the increase reflect the start-up costs of cogeneration projects from which the company will be purchasing electricity," explained Terrance G. Howson, vice president - materials, services & regulatory affairs. "While customers will realize cost increases for these projects initially, they will benefit from the savings these projects will provide over the lives of their contracts." Cogeneration is the process by which electricity and steam for manufacturing processes in produced.
 By the middle of the decade, the company expects that cogeneration will account for over 100 megawatts of economical electrical capacity for Jersey Central customers.
 "While our rates change frequently for a number of reasons, the net changes since the mid-nineteen eighties have been well below the general rate of inflation," said Howson. "In fact, today's customer charges are lower than those in effect in 1985."
 Under today's agreement, a residential customer using an average of 500 kilowatt-hours monthly and paying $54.82 would experience an increase of $1.34 monthly, or 2.4 percent.
 -0- 4/15/92
 /CONTACT: George Koodray of Jersey Central Power & Light, 201-455-8594/
 (GPU) CO: Jersey Central Power & Light Co. ST: New Jersey IN: UTI SU:


AH-OS -- NY094 -- 8829 04/15/92 15:17 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 15, 1992
Words:318
Previous Article:TRANS-INDUSTRIES REPORTS RESULTS FOR FIRST QUARTER ENDED MARCH 31, 1992
Next Article:PANHANDLE EASTERN REPORTS FIRST QUARTER EARNINGS


Related Articles
MISSION ENERGY ANNOUNCES AGREEMENT REGARDING THE CANCELLATION OF THE CROWN AND VISTA PROJECTS
DCR COMMENTS ON JCP&L BUY OUT OF FREEHOLD COGENERATION PROJECT FOR $125 MILLION
GPU Says Nestle Suit Without Merit
JCP&L to Review Decision by New Jersey Board of Public Utilities.
JCP&L Implements Work Continuation Plan Following Union Decision to Strike.
Agreements Reached in JCP&L Rate Cases.
Jersey Central Power & Light Files Non-Utility Generation Clause Request.
Jersey Central Power & Light Files Solar Renewable Energy Financing Proposal.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters