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Board of Public Utilities approves package of summer bill protections, expands USF and funds REAP credits
Summary
The Board approved stipulations to ease summer bill spikes tied to capacity-market prices, expanded Universal Service Fund benefits and allocated $48.74 million for a second REAP round that provides $25 monthly credits over seven months to eligible customers.
The Board of Public Utilities voted unanimously to approve a package of measures aimed at reducing the impact of recent capacity-market-driven electricity price increases on New Jersey customers.
Board staff presented stipulations negotiated with the four electric distribution companies and rate counsel that defer $30 from each customer's July and August bills and recover the deferred amounts over September through February without charging interest, a move staff said would smooth unusually high summer…
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