JCP&L Seeks 8.8 % Electric Rate Hike

JCP&L has filed a rate proposal with the New Jersey Board of Public Utilities that would raise residential electric bills by about 8.8 percent, adding roughly $170 a year for a typical customer using 767 kilowatt-hours per month. The increase is meant to cover $253 million in base distribution upgrades plus $476 million in deferred storm costs, with the utility spreading that storm recovery charge over 10 years starting in January 2028. JCP&L says it plans offsets so customers won’t feel the base rate change until 2028, giving everyone a little time to brace for it.