Rockland Electric Files Rate Reduction Proposal; Federal Tax Law Change Reduces Rates by $2.9M

On March 2, Rockland Electric Company filed a petition with the New Jersey Board of Public Utilities (NJBPU) to set interim electric rates that would reduce its customers’ bills by approximately $2.9 million  annually.

The interim rates, which would take effect April 1, are the result of a NJBPU order directing all N.J. utility companies to pass on to customers the savings the companies realized from the revised federal tax law that lowered corporate income taxes from 35 percent to 21 percent.

Under the new interim rates, the overall bill for a typical residential electric customer using a monthly average of 925 kWh would decrease an average of $2.10 per month, from $170.94 to $168.84 or approximately 1.2 percent.

 

After further examination of Rockland Electric‘s interim rate plan, the NJBPU’s current plan is to set permanent rates in July 2018.


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