Jersey Central Power & Light (JCP&L), a subsidiary of First Energy, has reached settlement with the state’s energy regulator, stakeholders and consumer representatives for its grid modernisation plan.
JCP&L has reached an agreement with the New Jersey Board of Public Utilities, the NJ Division of Rate Counsel and the New Jersey Large Energy Users Coalition for its Reliability Plus Infrastructure Investment Programme.
The utility has plans to direct $97 million in additional investments towards the programme designed to enhance the reliability and resiliency of its grid network.
The $97 million will fund some 1,400 projects to be done between June 1, 2019, and December 31, 2020.
The works will include enhancing the resiliency of overhead distribution lines, replacing existing equipment with new smart technology devices and expanding vegetation management programmes to address tree-related outages
Jim Fakult, president of JCP&L, said: “We have taken great care to ensure that JCP&L Reliability Plus focuses on the enhancements that have the most reliability benefit for our more than one million New Jersey customers.
“The enhancements implemented through this program will help reduce the frequency of power outages, address tree damage during severe weather events, provide more flexibility for operating the system and help modernize our electric grid in New Jersey.”
The cost of the programme will be recovered by a 0.5 increase in consumer monthly bills.