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NJ utility raising bills for power restoration

Local News | Feb 28, 2014

NJ utility raising bills for power restoration

TRENTON, N.J. (AP) — New Jersey’s second-largest utility company has been given tentative permission to raise customers’ bills to pay the costs it incurred to restore power after Superstorm Sandy and three other major storms in 2011 and 2012.

Under the deal announced Wednesday, The (Newark) Star-Ledger says Jersey Central Power & Light would be able to raise an additional $736 million.

When it initially filed with the Board of Public Utilities last year, the company said rates would need to go up 4.5 percent, or about $53 per year per customer.

The utilities board has not given final approval to the plan.

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