Printer Friendly

NJ BPU Approves Previously Announced Atlantic City Electric Rate Change.

Proposed Rate Change Will Have Minimal Impact on Customers

MAYS LANDING, N.J., May 16 /PRNewswire-FirstCall/ -- The New Jersey Board of Public Utilities (BPU) today approved a settlement, initially filed with the BPU on April 19th, of Atlantic City Electric Company's 2003 base rate case. Atlantic City Electric Company is a subsidiary of Pepco Holdings, Inc. (PHI) . The BPU ruling formally authorizes Atlantic City Electric Company to amend its tariffs to provide an increase in base rates for electric distribution service and recovery of a portion of previously deferred restructuring costs related to the New Jersey Electric Discount and Energy Competition Act. The ruling also allows the Company to begin implementation of certain depreciation rate changes called for under the settlement agreement.

PHI CFO Joseph M. Rigby said, "We are pleased that the New Jersey BPU has authorized this settlement as we believe it provides an appropriate mechanism to recover our investments in providing reliable service to our Atlantic City Electric customers."

Atlantic City Electric Company, a subsidiary of Pepco Holdings, Inc. , provides safe, reliable and affordable regulated electric service to more than 520,000 customers in southern New Jersey.

CONTACT: Media: Betty Kennedy of Atlantic City Electric, +1-609-625-5567, or Investors: Brian Shivery of Pepco Holdings, Inc., +1-302-429-3591

Web site:
COPYRIGHT 2005 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Geographic Code:1USA
Date:May 16, 2005
Previous Article:Crosstex Energy, Inc. Reports First Quarter Results.
Next Article:It's Not What They Saw, It's What They Missed: Soldiers in Operation Iraqi Freedom Reunite With Their Families in TLC's New Series OPERATION...

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters