NEWARK — Cape May County electric ratepayers will not be affected by a recent electricity auction approved by the state Board of Public Utilities (BPU) on Friday, Feb. 6.
According to a release, the Basic Generation Service auctions supply the electricity requirements of New Jersey’s four electric distribution companies: Atlantic City Electric, Jersey Central Power & Light, Public Service Electric & Gas and Rockland Electric. It covers both residential and small commercial customers as well as large commercial customers with a total value of approximately $7 billion representing approximately 8,500 megawatts of electric generating capacity.
Atlantic City Electric, which provides services to 500,000 in Cape May and seven other counties in southern New Jersey, was the only distribution company whose customers won’t be affected by the auction when new rates take effect on June 1. JCP&L (.1 percent), PSE&G (.6 percent) and Rockland (.2 percent) customers will see slight increases.
The bill for the average Atlantic City Electric customer will remain the lowest in the state at $109.70 for 650 kilowatt-hours. The average customer’s bill at JCP&L will increase from $119.09 to $119.19; at PSE&G from $118.54 to $119.21; and at Rockland from $122.26 to $122.46.
“While we have seen a significant decrease in fuel costs, the 2009 auction prices also reflect higher credit costs and higher costs for capacity,” stated BPU President Jeanne Fox.
Cape May County – KEEP FLYING YOUR DRONES EACH NIGHT! OUR HOBBY IS OUR FUN!!!!
