![]() Since regulators last reviewed the company's rates in 2020, JCP&L said it has made more than $794 million in investments to modernize and strengthen its electric grid, measures that help to reduce the size and duration of outages. What JCP&L does with the money: $53M transmission line upgrade designed to prevent, reduce length of power outages Utilities make no profit off the cost of the electricity, which changes annually, but instead through their base rates. This comes on top of a 4.8%, or $4.49, monthly increase, approved by state regulators last month for JCP&L for the cost of the electricity itself. If approved, a typical JCP&L residential customer, using 780 kilowatt hours per month would see a 7.5% percent increase in their bill, about $8.45 monthly. The utility, which serves 1.1 million customers in 13 New Jersey counties including Monmouth and Ocean, has asked the state Board of Public Utilities for permission to raise $185 million through its base rate, which it uses to pay its expenses and make a profit. Jersey Central Power & Light proposes to raise customers' electric bills by 7.5% to cover the costs of upgrades and pay for damage caused by major storms. Powered by ProfitStars.Watch Video: Brick family struggles with electrical shocks in pool, yard
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