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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Nova Scotia's last paper mill seeks new discount electricity rate
HALIFAX - Nova Scotia Power is scheduled to appear before government regulators Tuesday morning seeking approval for a unique discount rate for its largest customer.
Under the four-year plan, Nova Scotia Power would control the supply of electricity to Port Hawkesbury Paper, with the right to direct the company to increase or reduce daily consumption throughout the year.
The rate proposal is supported by the mill, which says it needs to lower its power bill to keep its operation viable.
The rate went into effect on Jan. 1 on a temporary basis, pending the outcome of a hearing this week before the Nova…
