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3 NJ utilities to cut electric rates

Local News | Feb 14, 2014

3 NJ utilities to cut electric rates

NEWARK, N.J. (AP) — Electricity will cost less for customers of three utilities in New Jersey. But it will cost more for those who receive service from the state’s largest utility.

The state Board of Public Utilities on Wednesday approved the results of the annual electricity auction that sets the wholesale prices utilities pay beginning June 1.

Public Service Electric & Gas customers will see their average monthly rates increase by $1.28.

Jersey Central Power & Light customers will pay $1.56 a month less. Atlantic City Electric rates will drop by $3.11 and Rockland Electric will see a 0.7 percent monthly decrease.

BPU President Dianne Solomon tells the Asbury Park Press PSE&G customers are paying more because of an increase in the cost of electricity transmission.