Atlantic City Electric has filed the company’s Infrastructure Investment Program outlining a series of investments during the next four years to provide safe and reliable service for customers with the New Jersey Board of Public Utilities (BPU). The program will allow for more timely recovery of investments made to modernize and enhance the company’s electric system.
“We are investing in smarter, more modern equipment that is providing our customers with more reliable service,” said Vince Maione, Atlantic City Electric region president. “It’s important we continue to make the necessary investments to the energy grid to further improve reliability for our customers.”
The Infrastructure Investment Program will result in gradual rate changes during the four years of the program as individual projects are completed between 2019 and 2022. As part of the program the company will invest $109 million in 2019, $101 million in 2020, $61 million in 2021 and $67 million in 2022. Based on the company’s request, the total monthly bill for a typical residential customer using 716 kilowatt hours would increase on average less than one percent per year to cover the costs of these investments.
During the past five years, Atlantic City Electric has invested hundreds of millions of dollars to enhance its electric system to further improve reliability for customers. As a result, the number of electric outages has decreased by more than 40 percent and outage length has been reduced by 18 percent. In 2017, Atlantic City Electric customers experienced the lowest average number of electric outages in the company’s history, as well as the fastest restoration times ever.
The Infrastructure Investment Program will allow Atlantic City Electric to continue to upgrade equipment while supporting new enhancements to the company’s energy grid. Outlined in the program, Atlantic City Electric plans to install more innovative technologies to improve system reliability, such as specialized equipment to reduce the impact of service interruptions should they occur, building new substations and upgrade equipment in existing substations that serve thousands of customers, and installing new tree-resistant aerial cable and other devices that enhance system reliability.
Atlantic City Electric also is committed to helping customers manage their electric bill by continuing to provide tips and information about how to save money and energy and connecting customers with helpful state and federal energy efficiency resources. Atlantic City Electric also offers payment options, like budget billing, to help customers manage their monthly electricity bills.
To access more business news, visit njbmagazine.comRelated Articles: