Atlantic City Electric Requests BPU Approval to Drive Advancement of Electric Vehicle Technology

MAYS LANDING, N.J. (February 23, 2018) – Atlantic City Electric has requested New Jersey Board of Public Utilities approval to implement a suite of electric vehicle (EV) programs focused on providing customers with reduced electric rates, credits, rebates and other incentives toward purchasing and operating EVs. The $14.9-million suite of programs is the latest in a series of efforts by Atlantic City Electric to advance the future of energy service for customers across southern New Jersey.

“Our customers are demonstrating their interest in electric vehicle technology,” said Vince Maione, Atlantic City Electric region president. “These programs both incentivize customers to pursue an EV option as their next vehicle purchase and provide them with the peace of mind that new charging options will be available to meet their fueling needs across South Jersey.”

Atlantic City Electric’s proposal outlines a voluntary suite of programs consisting of several key offerings for customers:

Special electric rates for residential customers with EVs who charge their vehicles during off-peak hours.
Residential customers can receive 50 percent off the equipment and installation costs for a Level 2 smart charging station at their home.
Commercial customers who own or operate condominium/apartment complexes, or local businesses and office buildings with garage parking, can receive Level 2 smart charging stations at 50 percent off the equipment costs.
Atlantic City Electric will install and manage 30 Direct Current Fast Chargers (DCFC) in main transportation corridor sites, and up to 150 Level 2 charging stations along major roadways and in neighborhoods within the company’s service area.
The company will create a $2-million innovation fund to provide grants to people or groups with projects designed to advance EV charging across the state and support the electrification of the transportation sector.

While Atlantic City Electric customers have expressed interest in EVs, many are hesitant to purchase EVs due to range anxiety and lack of available and affordable vehicle charging options. New Jersey currently has limited public EV charging infrastructure, contributing to customer apprehension toward investing in this clean and efficient transportation resource.

According to the U.S. Department of Energy, the carbon profile of New Jersey’s electric energy mix shows that an EV in the state is responsible for about a quarter the emissions of a gasoline vehicle. The registration of plug-in EVs in 2016 was 79 percent higher than 2015 (according to Charge EVC), with more than 10,000 plug-in EVs on the road, 60 percent of which have been purchased in the last two years.

Atlantic City Electric will begin offering the programs within two months after Board of Public Utilities approval.

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Atlantic City Electric, a public utility owned by Exelon Corporation (NYSE: EXC), provides safe, reliable and affordable regulated electric delivery services to approximately 550,000 customers in southern New Jersey.