- Associated Press - Thursday, January 30, 2014

NEWARK, N.J. (AP) - Regulators are recommending New Jersey’s second-largest utility cut electric rates by more than $200 million.

Jersey Central Power & Light was seeking to boost rates by $31 million. But staff members with the state Board of Public Utilities say JCP&L; earned a profit above its approved amount.

The state’s Rate Counsel Division has been pressing for lower rates.

JCP&L; spokesman Ron Morano tells The Star-Ledger of Newark (https://bit.ly/1iOHWUJ ) the company will evaluate the brief and reply to the recommendation. Morano says the filing does not address the utility’s request to cover storm-related damages from Sandy, Irene and other major weather events.

The state’s four BPU commissioners will have the final say.



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Information from: The (Newark, N.J.) Star-Ledger, https://www.nj.com

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