Rockland Electric Asks Rate Review of Storm Hardening Costs
Rockland Electric Company is seeking a regulatory rate review of the capital investment costs associated with the third year of its three-year, $15.7-million electric system storm hardening capital program.
The New Jersey Board of Public Utilities (NJBPU) approved the program in 2016, and has placed the first two year’s completed projects’ capital investment costs into rates. The third year’s projects are expected to be completed by the end of December 2018, and those capital investment costs --- $4.6 million --- would then be eligible for rate review by the NJBPU.
Chief among the third-year’s storm-hardening reliability improvement projects are electric distribution automation and smart grid expansion, which is designed to restore customers’ electric service more quickly during outages. Also included are a number of overhead electric system upgrades that feature the installation of stronger cable and poles in Harrington Park and Oakland.
The annualized increase in Rockland Electric’s revenue requirement associated with these projects is approximately $417,000. To fund these latest capital improvements, the typical Rockland Electric residential customer using a monthly average of 925 kWh would see a monthly bill increase of an average of 31 cents or 0.2 percent from $157.32 to $157.63. That increase would be expected to become effective on April 1, 2019.