Atlantic City Electric is monitoring a coastal storm that is expected to bring severe weather to our area this weekend. Strong winds and heavy rainfall may bring down trees and damage equipment, resulting in power outages for our customers. We are prepared for this event and have enhanced our staffing resources to best respond. Safety is our top priority. We urge customers to stay away from downed wires and other equipment. To report a downed wire, call 800-833-7476. Report and track outages through our mobile app or website at atlanticcityelectric.com/StormPrep.
For Immediate Release
Company seeks 1.86% Adjustment for Non-Utility Generation Charge
MAYS LANDING, N.J. - On March 4, 2013, Atlantic City Electric asked the New Jersey Board of Public Utilities (BPU) to adjust several pass-through charges that appear on customers' bills. The adjustments include a change to address the increased cost of long-term power purchase contracts with non-utility generators and tariff riders that fund several statewide societal benefits programs.
Ordinarily, the company would recover these costs over a 12-month period. But in an effort to mitigate the impact on customers, these proposed rates include the continuation of recovery of some of these costs over four years ending May, 2016.
If approved by the BPU, a typical residential customer using approximately 1,000 kilowatt hours per month would see a 1.86% percent increase in the monthly bill. The total monthly bill would go up by $3.37, from $181.52 to $184.89, effective June 1, 2013.
The proposed rate changes are subject to regulatory review and approval. The revenue from these adjustments does not accrue to the company's bottom line and do not result in any profit to the company. These costs are a pass-through to customers. The changes represent a reconciliation of charges, or a true up, that the utility must make periodically to ensure that it is accurately recovering its cost. Periodic reconciliation filings are required by the BPU.
Customers who buy from alternate or third party suppliers will see the same increase. Their new total monthly bill will vary according to the per-kilowatt-hour price charged by their supplier.
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 545,000 customers in southern New Jersey.