Latest news with #AtlanticCityElectric
Yahoo
4 days ago
- Business
- Yahoo
NJ power bills are spiking this month. What to know.
Major electricity rate increases are in effect across New Jersey as of June 1 — just in time for what the National Weather Service expects to be a summer hotter than normal. The figure for 'average' residential kilowatt hour usage varies, but generally is around 650 kWh per month. Consumers at those levels could see monthly bill increases of approximately 17-20%. Businesses are similarly affected. These estimated increases vary by which utility serves your region. More: Atlantic City Electric is giving customers another break. What to know. In South Jersey, those are: Jersey Central Power & Light, 20.20%; Atlantic City Electric, 17.23%; and PSE&G, 17.24%. In cash terms that's an additional $22.67 to $28.02 per month for the average customer. The administration of New Jersey Gov. Phil Murphy and the New Jersey Board of Public Utilities have pressed electric providers to come up with ways to lessen the impact. Electric company representatives have said they're paying more to buy the power they sell and aren't making money on these rate increases. Atlantic City Electric spokesman Brian Ahrens said on Friday that the utility has worked hard since the increases became public early this year at putting information in front of customers. This company is the utility provider for most southern counties in the state, including parts of Gloucester County. Ahrens and other utility representatives have echoed state government calls for consumers to seriously consider various conservation strategies and to look for financial assistance options. Company representatives have said they also expect results from more use of 'smart' meters. Other tips include: Conduct home efficiency evaluations. Search for rebates for energy efficient equipment and appliances. Looks for discounts on products such as programmable thermostats. Apply for budget billing to spread out seasonal cost spikes. Sign up for flexible payment plans. Utilities also are using their websites to steer customers to local, state and federal assistance programs. The increase in electricity costs is being put down to two reasons: Demand is higher, and energy production and/or delivery capacity have not kept pace. The growth in artificial intelligence data centers is claimed to be behind much of the demand for more electricity. Data centers are almost entirely in North Jersey. More: Electric bill increases in New Jersey: How much, and when, your bill will spike. Some of the assistance programs are as follows: Low Income Home Energy Assistance — helps low-income residents with heating and cooling bills, and makes provisions for emergency heating system services and emergency fuel assistance within the Home Energy Assistance Program. Call 1-800-510-3102 or visit for more information. Universal Service Fund — provides a monthly credit on natural gas and/or electric bills. USF shares an application with the federal Low Income Home Energy Assistance Program. Visit or call toll-free at 1-866-240-1347. NJSHARES — provides grants to moderate- and fixed-income households in a temporary financial crisis. Eligibility is based on household size and income. Grants are to be used for energy consumption only — not deposits, reconnection fees or repairs. Grants are to result in continuance and/or restoration of service. Payments go to the utility company. Call 1-866-657-4273 or visit New Jersey Lifeline — assistance for older adults and people with disabilities. This may provide a $225 annual benefit to people who meet the Pharmaceutical Assistance to the Aged and Disabled eligibility requirements or who receive Supplemental Security Income. This includes utility customers as well as tenants whose utility bills are included in their rent. Call 1-800-792-9745 or visit Joe Smith is a N.E. Philly native transplanted to South Jersey 36 years ago, keeping an eye now on government in South Jersey. He is a former editor and current senior staff writer for The Daily Journal in Vineland, Courier-Post in Cherry Hill, and the Burlington County Times. Have a tip? Support local journalism with a subscription. This article originally appeared on Cherry Hill Courier-Post: NJ electric bills are set to increase by 20%
Yahoo
17-05-2025
- Climate
- Yahoo
Tree falls into home during severe thunderstorm displacing woman in South Jersey
The Brief A Gloucester County woman is displaced after a tree falls into the side of her home. Power lines were downed after heavy rain and wind. WILLIAMSTOWN, N.J. - Evidence of storm damage is littered throughout the community of Williamstown, in Gloucester County, where the most significant damage was a tree falling into a home during the height of severe weather. What we know A severe thunderstorm came through Gloucester County leaving a trail of damage behind in one Williamstown neighborhood. A tree into a home is the most severe damage on the 100 block of Bellwyn Avenue near West Cushman Avenue. The woman who lived inside fortunately got out without injury. Other smaller trees and branches also came down during the storm, along with power lines. Atlantic City Electric arrived on scene late into the night after a second round of rain came through around 8:30 Friday night. What they're saying "I looked out my kitchen window and I seen that tree in the house," said Billiejo Baker. She is talking about the house next door. Her neighbor is displaced after the gigantic tree came crashing down onto her home. "I went out the side door to go and check on her because she lives alone," said Billiejo. "The front bedroom on the corner and the front bedroom next to it. It went through both of them." "She was in there trying to find her cats and we were in there. All our neighbors were checking on her and helping her but her cats are still in there," said Billiejo. Al Baker cannot believe the damage. "It's unbelievable," he said. Baker said he knew it was not going to be good but he did not think it would be this bad. "I was outside when it first started hitting. I am like, 'It is time to get in the house.' Five minutes later, all this happened," he said. He describes hearing the tree hit his neighbor's house. "I thought a bomb went off," he said. A tree in his yard took down a power line. Big picture view The community spent the evening helping others clean up what they could until a tree removal company came in to chop and remove the big stuff. "We're just neighbors. We look out for each other," said Billiejo.
Yahoo
15-05-2025
- Business
- Yahoo
NJ Governor Murphy proposes solutions to rising utility costs
TRENTON, N.J. – AJ Shah and his son, Eric, own an engineering business in Bridgewater. With a little more than two weeks to go until a statewide utility rate hike, they say they have little to do. 'I don't have a choice,' said AJ Shah. 'I'm not cutting down, so I'm just going to pay more, that's it. I'm going to cut somewhere, so of course I'm going to cut money somewhere else but that's one I don't have control.' More Local News 'Not good, right?' said Eric Shah. 'It's already been going up, I'd rather have it back down or back the way it was years ago.' On Wednesday, Governor Phil Murphy announced a suite of executive actions to address electricity prices. Per his Administration, he is urging New Jersey's electric utilities to: Voluntarily expand the Winter Termination Program, which prevents service disconnections in the winter months, to July-September, which JCP&L included in their filing, and; Suspend reconnection fees to a certain date past the summer peak usage months. Other actions include: Directing the NJBPU to evaluate all available funding and programming to stabilize utility bills, Directing the NJBPU to expedite opening another Competitive Solar Incentive Program Solicitation and Community Solar Energy Program Capacity Block by the end of 2025. Directing the NJBPU to open a new proceeding on resource adequacy. Within this proceeding, BPU will: Evaluate proposals to swiftly bring more generation online. Continue to determine how New Jersey can best achieve its reliability, equity, and clean energy objectives while keeping costs to consumers as low as possible, and whether New Jersey best serves the regional capacity market administered by PJM Interconnection. Identify policy opportunities to mitigate increased ratepayer costs due to demand growth driven by data center proliferation in the PJM region. 'While the utilities are not responsible for the rate increases, they have a responsibility to protect ratepayers,' Murphy said in a statement. 'It's clear that New Jersey's four hometown electric utilities need to deliver more reasonable options. We ask that utilities share the load and commit to being part of the solution to the PJM cost crisis. These utilities have reaped billions in profits over the last ten years. My administration will continue to identify and put all options on the table to mitigate rate increases.' In response to Murphy, Atlantic City Electric, which covers much of Southern New Jersey, told PIX11 News a statement: 'We share Governor Murphy's affordability concerns as we head into the summer months. While utility companies in New Jersey do not generate their own energy, do not set the price of electricity, and do not profit from these increases, we fully understand that rising energy costs stemming from PJM's 2024 Capacity Auction are a challenge for our customers. That is why our plan submitted to the BPU last week included deferring costs past the summer months to help soften the impact. Atlantic City Electric is currently reviewing the governor's announcement, but we remain committed to working together with Governor Murphy, the BPU, other utilities, PJM, generators, and customers, to be part of a path forward that supports the area's growing energy needs and manages bill impacts, while continuing to provide safe, reliable and resilient energy to our customers. Meanwhile, we will continue to offer a comprehensive energy efficiency program, rebates for energy efficient HVAC equipment and appliances, discounted energy saving products, flexible payment arrangements, and an Assistance Finder tool to help qualifying customers access various local, state, and federal energy assistance programs.' More Local News PIX11 also received a statement from Rockland Electric Company, which serves parts of Bergen, Passaic and Sussex Counies: 'As we approach the summer months, Rockland Electric Company is committed to working with the BPU to keep bills affordable for our customers in northern New Jersey,' said Michele O'Connell, Rockland Electric Company president and CEO. 'We work with all our customers, connecting them to various programs designed to help them lower the costs of their bills and become more energy efficient.' JCP&L spokesman Chris Hoenig told PIX11 News: 'JCP&L understands the concerns that many New Jersey families are facing due to increasing rates from electric suppliers. While it is not JCP&L's delivery rates that are rising, we include and collect these charges on the monthly electric bills, and we are committed to assisting our customers through this time. In fact, JCP&L proposed the expansion of the winter shutoff moratorium to incorporate peak summer use months in our recent filing to the Board of Public Utilities. We encourage our customers to reach out to us if they are having trouble paying their bill, so that we can connect them with available assistance or payment plans. Our energy assistance outreach teams will continue to get out into the communities we serve. We also encourage our customers to utilize our energy efficiency programs, which consist of programs that offer easy to implement tips as well as large-scale, whole home offerings, giving customers the power to take control over their energy use.' Anthony D'Aniello, owner of Manville Pizza, says energy is his biggest monthly expense. He shays he wouldn't be surprised if businesses like his, at some point, end up passing the cost onto the customer. 'We can only absorb it so much as a retailer,' said D'Aniello. 'You guys are going to see it something as simple as pizza as well.' Rates are set to go up on June 1st. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
25-04-2025
- Business
- Yahoo
Power companies warn lawmakers about their plans to tackle rising bills
Electric bills are set to spike starting in June, leading Democratic lawmakers to introduce bills they say are aimed at cutting costs for ratepayers. (Getty Images) Leaders from New Jersey's four regulated utilities told a joint legislative panel Friday that the state could take greater steps to build power generation capacity and cautioned against some cost-saving proposals lawmakers have floated as ratepayers prepare for a double-digit utility bill hike this June. Representatives of PSE&G, Jersey Central Power and Light, Rockland Electric Company, and Atlantic City Electric expressed willingness to play a role in electricity generation and billing changes that could spread high bills across multiple billing cycles. But they warned that lawmakers' proposals to lower utility profitability or break with the state's grid operator could do more harm than good. 'We recognize that this unfortunate increase will be delivered to our customers through bills with our name on it. This means whatever the facts are — and the facts are we are not responsible for this increase — we are involved. We recognize it and intend to be part of the solution,' said Richard Thigpen, senior vice president at PSE&G. They warned against lowering utilities' return on equity — the rate negotiated with state regulators at which they are allowed to profit on their investments — saying it could limit investor interest in New Jersey's electric providers and imperil utilities' ability to upgrade infrastructure in the long run. In New Jersey, return on equity rates typically hover around 9.6% — for every dollar they invest, they receive $1.096 back from ratepayers — and can be supplemented by incentives at the federal level that lawmakers are considering blocking. 'Investors — if they're not seeing the return that they're looking for as part of that investment in us, they may choose to go elsewhere and invest their money elsewhere,' said Phil Vavala, region president for Atlantic City Electric. 'That then could create the detrimental effect that ultimately would lead to investor disinterest that ultimately would then affect our ability to invest in the system.' Joining a new grid operator would be no guarantee that ratepayers would get lower costs, they also warned. 'I think I would have a concern unless I was 100% sure that it would benefit the customers,' Alex Stern, an official with Exelon, the parent company of Atlantic City Electric. 'I don't know how it gets done in a way that doesn't make it worse for the customer financially.' New Jersey's status as a net importer of energy and the continued loss of in-state net power generation as existing plants go offline pose significant hurdles to a break with New Jersey's grid operator. Democratic legislators have increasingly sought to blame PJM Interconnection, the grid operator for New Jersey, 12 other states, and Washington D.C., for the spike in electricity costs, which is expected to add roughly $25 to a typical customer's monthly electricity bill beginning on June 1. Gov. Phil Murphy last week asked federal regulators to investigate whether there had been any 'market manipulation' that led to the price spike. Sen. Bob Smith (D-Middlesex) renewed attacks against the interconnector Friday, charging without evidence that its voting members had colluded to push up energy capacity prices at a PJM-run capacity auction in July. 'I'd really like to know who sent the memo around, 'Let's everybody bid 10 times higher than last year.' If that doesn't smell like collusion, I don't know what does,' he said. Republican lawmakers have pointed to Murphy's ambitious renewable energy goals as a cause of rising prices. That plan has focused chiefly on offshore wind farms, but each of those projects has been abandoned by developers or frozen by executive orders and other regulatory actions by the Trump administration. Industry officials have said lower energy supply coupled with harsher weather and a steep spike in demand driven by artificial intelligence data centers after years of relatively stable electricity needs have driven bills and prices upward. Utility officials said New Jersey could seek more in-state generation through legislative action or a bid process like the one used for the stalled wind projects. Thigpen said the PSE&G had 'almost zero confidence' that higher electricity prices alone would incent the development of more in-state generation. New Jersey in 1999 deregulated energy generation in hopes that competition would bring down prices in what, before then, was a monopolized market. Since then, the regulated utilities — called electric distribution companies — have increasingly withdrawn from generation, preferring to transmit power generated by others across the infrastructure they own. At present, only PSE&G, which operates nuclear plants in Salem County that account for roughly 40% of New Jersey's in-state generation, creates any electricity in New Jersey, though representatives from all four regulated utilities expressed willingness to play a bigger role in generation Friday. The timelines, costs, and political uncertainties associated with new generation make nuclear an unattractive power source to provide relief in the short term, Thigpen said. Such projects take about a decade and billions of dollars to stand up, he said, and could lay at the whims of a future administration or Legislature. If a nuclear project approved under one administration was blocked by a subsequent one, the utility's investment would be in a precarious position, he noted. 'Now, we've spent several billion dollars, and the state is no longer behind it,' Thigpen said, speaking hypothetically. 'That is what I would call political risk.' SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
28-03-2025
- Business
- Yahoo
Exelon to Announce First Quarter Results on May 1
CHICAGO, March 28, 2025--(BUSINESS WIRE)--Exelon (Nasdaq: EXC) will hold its first quarter 2025 earnings conference call at 9:00 a.m. CT/10:00 a.m. ET on Thursday, May 1. The conference call will be led by Exelon President and CEO, Calvin Butler, and Exelon Executive Vice President and CFO, Jeanne Jones. To listen to or view the upcoming earnings presentation, please access the live listen-only webcast here. The audio webcast link will also be available on the Investor Relations page and will be archived and available for replay. About Exelon Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation's largest utility company, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Exelon's 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow @Exelon on X and LinkedIn. View source version on Contacts James Gherardi312-394-7417 Media Sign in to access your portfolio
