JCP&L seeks electric rate hike that could raise bills by nearly 9%
The utility is seeking an increase of about 8.5% for the average customer.
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JCP&L is asking the New Jersey Board of Public Utilities to approve a rate increase that could raise electric bills for customers across its service area.
The utility is seeking an increase of about 8.5% for the average customer. If approved, that would amount to roughly $14 more per month, or about $170 per year.
JCP&L says it would delay the increase until January 2028 to give customers time to prepare for the added expense.
The company says the additional revenue is needed to fund infrastructure upgrades, improve reliability and help restore service more quickly following storms.
JCP&L also says it has invested in capital improvements over the last three years that have strengthened the electric system.
"Customers shouldn't have to choose between affordability and reliability," FirstEnergy President Doug Mokoid said in a statement. "Our balanced approach puts both front-and-center simultaneously by minimizing the impact on bills today and giving customers time to plan, while continuing to invest in the infrastructure needed to deliver safe, reliable service for generations to come."
The request comes as utility costs remain a major concern for residents.
The proposal is already drawing pushback from some state Senate Republicans, who are urging the Board of Public Utilities to reject the increase, arguing customers cannot be expected to absorb higher costs.
