Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp., has received approval from the New Jersey Board of Public Utilities to implement measures aimed at mitigating the impact of rising electricity prices on families.
Doug Mokoid, FirstEnergy's President of New Jersey, stated, "While JCP&L doesn’t control electricity supply prices, we are committed to helping customers manage increases through new and expanded assistance programs. These costs, which represent nearly 60% of a family’s bill in our service territory, have surged this summer."
To alleviate higher summer costs, JCP&L will apply a $30 deferral credit on all residential bills in July and August. This credit will be recovered through a $10 monthly charge from September through February when electricity use is typically lower.
The approved measures also include a limited suspension of service shut-offs in July, August, and September under criteria similar to the Winter Termination Program. Reconnection fees will be waived from July 1 to September 30. Enhanced deferred payment agreements will allow customers to spread past-due balances over up to 24 months instead of the usual 12 months.
These initiatives complement JCP&L's year-round offerings designed to help manage energy usage and costs. These include bill assistance programs for income-eligible customers and those with medical needs or financial hardship; energy efficiency tools such as the Home Energy Analyzer; whole home energy solutions; HVAC rebates; appliance rebates and recycling; as well as tips for saving energy without sacrificing comfort.
Residential electric bills comprise two main charges: JCP&L's delivery charge for system maintenance and power delivery, and supplier charges reflecting the cost of generated electricity. Customers can choose their electricity supplier or be automatically enrolled in Basic Generation Service (BGS), procured by JCP&L through competitive auctions.
Rising demand coupled with reduced supply due to power plant retirements have driven up supply prices, causing BGS rates to spike by 19.6%. The average residential customer uses approximately 777 kilowatt-hours per month. JCP&L does not supply electricity but passes supply costs directly to customers without markup.
JCP&L serves around 1.1 million customers across several counties in New Jersey. Follow them on social media or visit their website for more information.
FirstEnergy serves over six million customers across multiple states with its extensive transmission network connecting various regions.
For further inquiries: News Media Contact: Chris Hoenig at (609) 350-8599; Investor Contact: Karen Sagot at (330) 761-4286.