NJBPU Approves New Rockland Electric Company Rates
The New Jersey Board of Public Utilities (NJBPU) yesterday voted to approve new electric rates for Rockland Electric Company.
The new rates, which will take effect February 1, provide Rockland Electric with the resources to provide increased customer satisfaction, improved storm resilience, more efficient operations and greater technological innovation, which supports the objectives of New Jersey’s Energy Master Plan.
To fund these proposed electric delivery initiatives, today’s rate order provides for an increase in overall revenues for electric delivery of $12 million or 5.6 percent. The bill for a typical residential customer using 925 kWh per month would increase by $10.08 or 6.1 percent per month from the current bill of $165.66 to $175.74.
The rate order approved recovery of Rockland Electric’s $16-million investment in the installation of approximately 73,000 electric smart meters throughout its service area in Bergen, Sussex and Passaic counties.
In addition, Rockland Electric has invested to further storm-harden the electric system through smart grid automation projects. The smart grid integrates state-of-the-art equipment and technology with advances in computer analysis, communications, monitoring and control to significantly enhance system reliability, efficiency and overall quality of service.
Additional electric system storm hardening efforts center on vegetation management and compliance with expanded legislative standards that now include the substantial task of removing tree branches that overhang wires.
Rockland Electric Company is an electric utility that serves 73,000 customers in parts of Bergen, Passaic and Sussex County in New Jersey. Rockland Electric is a wholly owned subsidiary of Orange and Rockland Utilities, Inc., which is owned by Consolidated Edison, Inc.