Spending Would Enhance Reliability of the Electric System and Help Create Up To 100 Jobs
MAYS LANDING, N.J. – Atlantic City Electric today filed with the New Jersey Board of Public Utilities (BPU) to authorize a three-year extension of the company’s Infrastructure Investment Program (IIP) and approve $69 million in capital spending for 2012 to enhance reliability of the electric system. If approved, effective, Jan. 1, 2012, the typical monthly bill for a residential customer using 1000 kilowatt-hours a month would increase by $.83, about 0.45 percent, from $180.50 to $181.33.
The company recently completed its 2009 BPU-approved IIP. Under this program, the company committed to accelerate spending on capital improvement projects to help stimulate the State’s economy and create jobs. In 2009 and 2010, the company accelerated capital improvement spending originally scheduled for 2011 through 2013. The program was comprised of 16 infrastructure projects with an estimated capital cost of $27.6 million that enhanced the safety and reliability of the company’s electric distribution system and ultimately resulted in 59 new construction-related jobs.
In a continued effort to foster economic activity and help create jobs, the company is seeking a $69 million extension to its IIP. The extension would consist of 12 categories of reliability-based capital infrastructure projects. If approved, in 2012, these projects could create up to an estimated 100 additional construction-related jobs in New Jersey.
“We’re pleased to continue this statewide initiative to revitalize the state’s economy and enhance service to our customers,” said Vince Maione, Atlantic City Electric Region President. “To date, our Infrastructure Investment Program has created 59 jobs and allowed us to accelerate valuable reliability enhancement work, we look forward to continuing and expanding this very successful program.”
Atlantic City Electric, a public utility owned by Pepco Holdings, Inc. (NYSE: POM), provides safe, reliable and affordable regulated electric delivery services to more than 548,000 customers in southern New Jersey.