For Immediate Release
MAYS LANDING, N.J. (June 15, 2018) – Atlantic City Electric today filed a request with the New Jersey Board of Public Utilities (BPU) to review electric delivery rates to ensure they reflect the costs associated with the essential work to modernize the local energy grid and respond to the increasing frequency and damage associated with major storms. The request seeks to recover approximately $99.7 million for work the company continues to perform resulting in record service reliability for customers and to repair infrastructure damaged due to major storm events.
Atlantic City Electric customers are benefitting from the major enhancements that are being made to the local energy grid. Over the past five years, Atlantic City Electric has spent hundreds of millions of dollars in South Jersey modernizing the energy grid with new devices, stronger poles, and more modern equipment. As a result, customers experienced the lowest average number of electric outages in the company's history in 2017, as well as the fastest restoration times ever. In addition, 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.
"We know that these increases may be challenging for our customers, but we also know that our customers expect that we provide reliable service and respond quickly when major storms hit," said Susan Coan, Atlantic City Electric region vice president. "We work every day to provide a safe, reliable and affordable product that our customers can count on. We will continue the important work to ensure our customers have access to tools and resources that make their energy service affordable and accessible."
Based on today's request, the typical Atlantic City Electric residential customer using 679 kilowatt hours per month would see a monthly bill increase of 8.25 percent, or about $10.66.
Just last year, Atlantic City Electric spent $312 million to modernize and fortify the local energy grid, including more than $171 million in the local distribution grid. This work included inspecting and upgrading equipment like switches, poles and other devices, installing stronger, tree-resistant aerial cable, and trimming trees, which cause about 40 percent of power outages for customers each year.
Specifically, in 2017 Atlantic City Electric:
In 2018, Atlantic City Electric plans to continue the efforts to enhance the local energy grid, spending more than $194 million to install new equipment that will help to further reduce the frequency and duration of power outages and fortify the local distribution grid.
In addition to providing better, more reliable service, these infrastructure investments help drive economic development and job creation in the local economy. Last year, Atlantic City Electric hired 54 new field employees and purchased $51 million in goods and services from diversity-certified suppliers, while employing more than 1,000 people in South Jersey. Atlantic City Electric will help create future jobs through a $6.5 million workforce development initiative to expand training programs for energy-related jobs. Atlantic City Electric is committed to supporting the communities it serves. In 2017, the company contributed more than $1 million to local nonprofits, while its employees volunteered more than 14,200 hours to assist hundreds of organizations throughout southern New Jersey.
Atlantic City Electric is committed to helping customers manage their energy bill by providing the tools and resources that can help save money and energy. The company also helps customers secure important state and federal energy efficiency and grant programs. Many of these programs offer assistance for low- and limited-income customers who may be struggling to pay their energy bill. Eligible customers also can receive financial assistance through the Helping Hands program, funded by Atlantic City Electric, which provides $1 million annually to help customers meet their energy needs.
Atlantic City Electric offers payment options, like budget billing, to help customers manage their monthly electricity bills and lessen the impact of their seasonal usage changes. Budget billing provides customers with consistent monthly payments by dividing annual energy costs evenly throughout the year. Customers who wish to learn more or take advantage of these important programs can visit www.atlanticcityelectric.com or call 1-800-642-3780.
To learn more, visit The Source, Atlantic City Electric's online news room. Find additional information about Atlantic City Electric by visiting www.atlanticcityelectric.com. Follow the company on Facebook at www.facebook.com/atlanticcityelectric and on Twitter at www.twitter.com/acelecconnect. Atlantic City Electric's mobile app is available at www.atlanticcityelectric.com/mobileapp.
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.