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BPU orders JCPenal to remove ZEC recovery charge and accepts staff revenue review for ZEC year 2025
Summary
The board directed JCPenal to eliminate its ZEC recovery charge tariff and move remaining balances to the universal service fund component of its SBC, with revised tariffs due Feb. 15; staff also reported no evidence of double payments in ZEC year 2025 and will review later federal production tax credit filings for potential refund recommendations.
The Board of Public Utilities on Jan. 28 approved staff recommendations on two matters related to zero-emission certificates (ZECs).
On an annual reconciliation petition, staff told the board that JCPenal requested to maintain its ZEC reconciliation charge at zero but recommended the board direct JCPenal to eliminate its ZEC recovery charge tariff, transfer any remaining cumulative balance to customers via the universal service fund component of its system benefit charge (SBC), and file revised tariffs by Feb. 15. The board approved staff's recommendation by roll call.
On a separate revenue review for energy year 2025, staff reported no evidence that the nuclear generating units awarded ZECs—Salem 1, Salem 2 and Hope Creek—received double payments for attributes such as fuel diversity, resilience or air quality during the review period. Staff noted that beginning in calendar year 2024, selected units became eligible for a federal production tax credit (PTC), and some subsequently filed for the PTC after the end of energy year 2025; staff recommended owners file amounts included in PTC tax filings with the board so staff can determine any double payment amounts and recommend a refund process if necessary. The board accepted staff's findings and directed the follow-up filings by roll call vote.
All motions on ZEC-related items passed unanimously.
