McGUCKIN: JCP&L SHOULD WITHDRAW
RATE INCREASE REQUEST
Assemblyman Greg McGuckin, who sits on the Telecommunications and Utilities Committee, said today that he believe Jersey Central Power & Light Company should withdraw their recently submitted request to the Board of Public Utilities (BPU) for a $31.5 million rate hike in order to cover the costs of Hurricane Irene in September, 2011 and the snowstorm which followed in October that same year. The proposed increase would go into effect in August, 2013.
“JCP&L is using the order by the BPU to file a base rate case as an opportunity to increase their customers’ electric bill. Their timing couldn’t be worse and I’m not sure it’s justified,” said McGuckin, R-Ocean. “The reason the order was issued was because the state Division Rate Counsel was suspicious that JCP&L was earning an excessive profit. If JCP&L has any sense, they will vacate their request and focus on improving their communications during an emergency.”
According to a consultant hired by the rate counsel’s office, JCP&L exceeded its approved rate of return of 8.5 percent by nearly 3.9 percent in 2010. The order would have required the utility to open its books to determine its actual return.
During today’s committee hearing, McGuckin asked JCP&L President Don Lynch if the company would withdraw its proposed increase until the BPU determines whether the company earned an excessive return. Lynch responded that he would discuss the request with JCP&L’s parent company, FirstEnergy, which is based in Ohio.
NJ Assembly Republicans on Facebook
NJ Assembly Republicans on Twitter
Gov. Chris Christie is California’s favorite among potential 2016 GOP presidential candidates, according to a new poll.Read More >
Donovan rolls out Bergen County Exec re-election campaign CARLSTADT - In this Bergen borough on the edge of the Meadowlands, Bergen County Executive Kathleen Donovan announced her re-election bid on Tuesday, with the Republican hoping to emerge from the swamp of county politics triumphant in the November 2014...
BY MARTIN PEREZ In the wake of the Governor’s historic win of 51% of the Latino vote, the issue of in-state tuition has become the site of a heated turf war between N.J. Democrats and Governor Christie. This lame duck battle is a good sign for... Read More >
"I think it's going to be fine. I don't take this personally. Some people in my party agree with me, some don't. Senator Cardinale is very gracious by supporting me tonight, and [Bergen County GOP Chairman] Bob [Yudin], of course, is celebrating Hannukah, so I don't expect him to be here tonight." - Bergen County Executive Kathe Donovan, at her campaign launch last night.- PolitickerNJ.com
Press releases are submitted by PolitickerNJ users, not by staff. They do not represent the viewpoint of PolitickerNJ.com.