PSE&G files for modest rate increase
NEWARK, NEW JERSEY - Public Service Electric and Gas Co. (PSE&G) filed for a modest increase in transmission rates as a result of significant additional investment in the utility's electric transmission system. The company's last rate increase was in 1997.
In the filing with the Federal Energy Regulatory Commission (FERC), PSE&G asked for formula rate treatment as the company embarks on a $1.6 billion capital spending program for new transmission facilities during the next five to eight years. The new rates are also necessary because of increasing transmission operating and maintenance expenses to provide safe, reliable service.
PSE&G is seeking a transmission return on equity of 11.68 percent effective October 1, 2008. If approved by FERC, the new rates would increase the bill of the average residential electric customer by less than one-half of 1 percent, or about $5.50 a year.
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Egypt, China's Huawei discuss electricity network's transformation to smart grid
CAIRO - Egypt and China's tech giant Huawei on Thursday discussed the gradual transformation of Egypt's electricity network to a smart grid, Egyptian Ministry of Electricity and Renewable Energy said.
Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker met with Huawei's regional president Li Jiguang in Cairo, where they discussed the cooperation, the ministry said in a statement.
The meeting is part of Egypt's plans to develop its energy sector based on the latest technologies, it added.
During the meeting, Shaker hailed the existing cooperation between Egypt and China in several mega projects, welcoming further cooperation with China to…
