photo by Boyd Loving
Storm expenses could spur electricity rate hikes in New Jersey
Saturday August 24, 2013, 11:57 PM
BY DAVE SHEINGOLD
STAFF WRITER
The Record
The winds of Sandy, the floods of Irene and the tree-snapping weight of a freak October snowstorm will likely hit North Jersey residents again in coming years — this time as electricity rate hikes put in place to help pay off more than $1 billion in damage wreaked on the state’s power grid.
Regulators will soon be reviewing paperwork documenting expenses incurred by power companies in those and two other storms from 2011 and 2012 — from wages paid to thousands of repair workers to the cost of tons of replacement parts — to decide how much can be passed along to utility customers.
– See more at: https://www.northjersey.com/news/Storm_expenses_could_spur_electricity_rate_hikes_in_New_Jersey.html#sthash.5LzOLv5I.dpuf
Upgrades in delivering more power to more people is not easy. Their wants to do more within today’s electronic age.
And those include the many more seniors getting into the show.
The bureaucrat regulators will ‘rubber stamp’ the request for rate increases. They are too stupid to realize that PSEG is receiving massive cost reductions in their generation costs due to the oversupply of natural gas that is used to generate electricity. The shareholders will get their big dividends while the ratepayers will get the shaft, as usual.