If approved by the BPU, the settlement will help JCP&L invest in enhancements that further strengthen electrical infrastructure to benefit its 1.1 million customers while allowing the company to continue recovering its investments in restoring electricity to customers following storms and severe weather.
The settlement has been filed and is subject to BPU approval.
“This agreement allows us to continue to keep our rates the lowest in New Jersey while moving forward with our customer-focused priorities: delivering safe, reliable and affordable electricity to the homes and businesses in our service area. It also puts a spotlight on the assistance available to our customers facing financial hardship,” Jim Fakult, president of JCP&L, said.
The settlement includes several investments focused on strengthening the energy grid, enhancing the customer experience and sustaining affordability.
- Infrastructure upgrades to enhance the performance of 18 high-priority circuits that have a history of service disruptions in JCP&L’s service territory;
- Increasing existing vegetation management investments to enhance tree trimming and other related work around JCP&L wires; and
- The launch of an Energy Assistance Outreach Team to enhance the company’s ongoing efforts to increase awareness, education and participation in energy assistance programs available to eligible customers.