Dive Summary:
- Pepco Holding's Atlantic City Electric has requested a 7% rate increase to offset surging costs and restoration expenses in the wake of the damage wrought by Hurricane Sandy and the July Derecho.
- If the Board of Public Utilities approves the base rate adjustment of $70 million, the average residential consumer will pay an extra $12.69 on their monthly utility bill.
- Atlantic City Electric provides power for over 550,000 customers in Southern New Jersey.
From the article:
"... The utility says the proposed base rate adjustment of nearly $70 million reflects rising costs to provide safe and reliable service. It also includes some restoration costs associated with Superstorm Sandy and the Derecho in July. ..."