New and expanded programs designed to meet
increased state energy savings targets
HOLMDEL,
N.J., Dec. 4, 2023 /PRNewswire/ -- FirstEnergy
Corp. (NYSE: FE) subsidiary Jersey Central Power and Light
(JCP&L) has filed for an expansion of its energy efficiency
programs with the New Jersey Board
of Public Utilities (BPU). The $964.2
million, two-and-a-half-year portfolio of programs would
begin on Jan. 1, 2025, and is
designed to achieve the electricity savings required by the New
Jersey Clean Energy Act of 2018 and the BPU.
Jim Fakult, president of
JCP&L: "New Jersey is
a national leader in clean energy. By expanding programs that have
proven to be successful and adding new tools and incentives that
build on the safe, reliable electric service we provide our
customers every day, JCP&L is proud to continue our role in
achieving goals that make our state a better place to live, work
and raise a family."
The proposal includes the continuation of several core programs
offered by JCP&L since July 2021
and introduces several new offerings. Some of the programs
include:
- A Whole Home Program that offers energy efficiency
opportunities, such as assessments, to residential customers.
- An Energy Efficient Products Program that provides incentives
for HVAC, appliances, consumer electronics and other energy-saving
equipment.
- The Direct Install and Energy Solutions for Business Programs
that offer assessments and financial support to small business and
commercial customers for energy efficiency upgrades.
- A Multifamily Program that offers financial incentives for
in-unit and common area energy efficiency solutions, as well as
more comprehensive solutions, such as whole-building
retrofits.
- A Building Decarbonization Program that provides financial
incentives and rebates for the electrification of building heating,
water heating and cooking equipment.
- The Next Generation Savings Program, which targets new
technologies and approaches that require training, incentives or
other key elements to help the marketplace better understand the
potential value of the technology or approach.
JCP&L also proposes to expand a program that reduces
demand during peak hours for residential customers to include small
business customers and offer additional features for residential
customers with smart meters.
The Comfort Partners Program, the low- and moderate-income
utility assistance program currently co-managed through
New Jersey's Clean Energy Program,
would be consolidated as a part of this proposal. The updated
program, which will be managed by electric and gas utilities, would
offer tiered benefits for moderate- and low-income customers, based
on household income and other qualifying factors.
JCP&L is also proposing a Conservation Voltage Reduction
Program that will analyze company substations and distribution
circuits to identify opportunities to reduce voltage in the
system.
JCP&L's rates remain the lowest among New Jersey's four regulated electric
distribution companies. If this expansion is approved, the
typical JCP&L residential customer using 783 kilowatt-hours of
electricity and currently paying $116.88 per month could expect to see a total
increase of approximately $4.86, or
4.2%, on their monthly electric bill by July
2026. Three incremental rate adjustments would start with a
$0.97 increase for the typical
JCP&L residential customer on Jan. 1,
2025. Additional impacts would be effective July 1, 2025, and July 1,
2026.
JCP&L serves 1.1 million customers in the counties of
Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union
and Warren. Follow JCP&L on X,
formerly known as Twitter, @JCP_L, on Facebook at
www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy Corp. is dedicated to integrity, safety, reliability
and operational excellence. Its 10 electric distribution companies
form one of the nation's largest investor-owned electric systems,
serving customers in Ohio,
Pennsylvania, New Jersey, West
Virginia, Maryland and
New York. The company's
transmission subsidiaries operate approximately 24,000 miles of
transmission lines that connect the Midwest and Mid-Atlantic
regions. Follow FirstEnergy online at www.firstenergycorp.com and
on X @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.