For Immediate Release
MAYS LANDING, N.J. (March 13, 2018) – Atlantic City Electric has filed plans with the New Jersey Board of Public Utilities (BPU) to pass along $22.7 million in tax savings to customers. The savings are a result of the recently passed federal tax reforms. If approved by the BPU, the typical Atlantic City Electric residential customer will see a $1.38 decrease to their monthly bill beginning April 1, 2018 and a total decrease of $2.37 beginning on July 1, 2018.
"We are pleased that we have the opportunity to provide our customers with meaningful savings," said Vince Maione, Atlantic City Electric region president. "These savings will help offset the rate changes that have been essential to our efforts in providing safe and reliable service for our customers."
In addition to providing affordable energy services to customers, Atlantic City Electric also has continued to invest in the local energy grid to help maintain safe and reliable service. Customers continue to benefit from these enhancements, which have resulted in record electric reliability over the last few years. During the past five years, the number of electric outages has decreased by more than 40 percent and outage length has been reduced by 18 percent. In 2017, Atlantic City Electric customers experienced the lowest average number of electric outages in the company's history, as well as the fastest restoration times ever.
Atlantic City Electric filed the proposal to reduce rates as a result of the federal Tax Cuts and Jobs Act.
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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.