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BPU staff recommends JCP&L cut rates

1-30-14

NEWARK, N.J. (AP) — Regulators are recommending New Jersey’s second-largest utility cut electric rates by more than $200 million.

Jersey Central Power & Light was seeking to boost rates by $31 million. But staff members with the state Board of Public Utilities say JCP&L earned a profit above its approved amount.

The state’s Rate Counsel Division has been pressing for lower rates.

JCP&L spokesman Ron Morano tells The Star-Ledger of Newark (http://bit.ly/1iOHWUJ ) the company will evaluate the brief and reply to the recommendation. Morano says the filing does not address the utility’s request to cover storm-related damages from Sandy, Irene and other major weather events.

The state’s four BPU commissioners will have the final say.

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Information from: The (Newark, N.J.) Star-Ledger, http://www.nj.com