Jersey Central Power & Light Company’s recent petition that would yield an overall net operating revenue increase of approximately $112.325 million to cover the costs of Hurricane Irene, Superstorm Sandy and the November 2012 Nor’easter is yet another insult to its ratepayers.
JCP&L has not demonstrated responsible business practices to its customers. My office fielded hundreds of telephone calls and e-mails following the storm from outraged constituents, many who were without power between 1-2 weeks.
When will the BPU hold the utility (JCP&L) accountable for its practices before, during and after a crisis? Since JCP&L earned a rate of return of 12.37% in 2010 for its total electric operations, which is substantially higher than the BPU authorized return on rate base of 8.21% for Public Service Electric and Gas Company; 8.21% for South Jersey Gas Company; and 7.64% for Elizabethtown Gas Company how is this latest request justified?
What is especially disconcerting is that the BPU is making it extremely difficult for the public to access the verified rate increase petition, updates and related documents. The public cannot get this information online. Instead, the public is forced to be inconvenienced to only obtain information at a JCP&L regional headquarters or local business office. This is not acceptable!
On behalf of my 660,000 constituents in MonmouthCounty, I strongly object to this unwarranted rate increase for JCP&L and propose that it is time for this utility to be held accountable for its actions.