PSE&G files for modest rate increase
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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Australia stuck in the middle of the US and China as tensions rise
MELBOURNE - Scott Morrison has caught himself bang in the middle of escalating tensions between the United States and China.
The US and Australia will share a naval base in the north end of Papua New Guinea on Manus Island, creating another key staging point close to the contested South China Sea.
“The United States will partner with Papua New Guinea and Australia on their joint initiative at Lombrum Naval Base,” US Vice President Mike Pence said.
“We will work with these two nations to protect sovereignty and maritime rights in the Pacific Islands. ”
At an Asia Pacific Economic Cooperation meeting in Port…
