NJ · electric · ER23030144
Closed case·Complete·Authorized
The authorized increase was less than half the initial request and followed a deferred implementation date.
JCP&L initially requested approximately $184.95 million in additional annual revenue. The Board approved an $85 million settlement, with rates effective June 1, 2024.
Jun 1, 2024
Not scheduled
Case stage
complete
Filed
Mar 16, 2023
Testimony
Not recorded
Hearings
Not recorded
Briefing
Not recorded
Decision
Feb 14, 2024
Rates effective
Jun 1, 2024
State rules
This docket is a full base-rate review. Selected charges can change on separate schedules without reopening every issue in this case.
Full base-rate review
Case-specific; program deadlines can apply
New Jersey does not use one recurring base-case interval for every utility. Board-approved infrastructure programs can require the participating utility to file its next base-rate case within five years or sooner.
Rate period: Normally established in the utility's base-rate filing; infrastructure-program recoveries remain provisional until prudence is reviewed in the next base case.
Governing rule ↗Between full reviews
Infrastructure Investment Program
Annual or semiannual recovery
A Board-approved IIP permits accelerated recovery for qualifying in-service infrastructure through a separate tariff clause. Rates are provisional and the utility must return for a base case no later than five years after program approval.
Governing source ↗Major-event storm cost deferral
Event-driven · reviewed in a later case
A utility may defer qualifying incremental major-storm costs for later prudence and recovery review. Ordinary storm expense can remain covered by a base-rate allowance.
Governing source ↗Commission decision
Utility request and Commission-authorized outcome.
| Metric | Utility request | Authorized outcome | Like-for-like difference |
|---|---|---|---|
| Annual revenue increase | $184.95M Annual utility request | $85M Prior authorized observation · Feb 14, 2024 | +$99.95M |
| Rate base | Not available Not captured in current case sources | Not available Authorized value not captured | — |
| Return on equity | 10.4% Total company rate-case request or Commission-authorized outcome · Feb 14, 2024 | 9.6% Total company rate-case request or Commission-authorized outcome · Feb 14, 2024 | +80 bps |
| Common equity ratio | Not available Not captured in current case sources | Not available Authorized value not captured | — |
| Residential bill impact | Not available Not captured in current case sources | Not available Authorized value not captured | — |
Prior authorizations, mechanism values, actuals, and company projections are shown separately because they are not default like-for-like case comparisons.
Annual revenue change
authorized · Prior authorized observation · Oct 28, 2020
$94M
Common equity ratio
authorized · JCP&L New Jersey distribution base-rate capital structure. · Dec 31, 2025
51.9%
Rate base
disclosed actual · Combined JCP&L distribution and transmission rate base; distribution was $3.7 billion and transmission $1.4 billion. · Dec 31, 2025
$5,100M
Return on equity
authorized · JCP&L New Jersey distribution base rates effective June 2024. · Dec 31, 2025
9.6%
3 events · 1 document · 1 citation
Material filings, hearings, orders, and effective dates.
Mar 16, 2023
Base rate petition filed
official commission · completed
Feb 14, 2024
Board approved settlement
official commission · completed
Jun 1, 2024
Revised base rates became effective
official commission · completed
Docket and evidence documents linked to this proceeding.
NJBPU order approving JCP&L 2023 base-rate settlement
evidence · primary · Feb 14, 2024
Field-level excerpts and review metadata supporting material facts.
NJBPU order approving JCP&L 2023 base-rate settlement
commission order · Feb 14, 2024
Stage-preserving economics and party positions as published in the canonical record.
| Metric | Stage | Party | Period | Value | Evidence |
|---|---|---|---|---|---|
| Annual revenue change | authorized | party-commission | — | $85M | |
| Annual revenue change | utility request | party-utility | — | $184.95M | |
| Return on equity | authorized | party-commission | — | 9.6% | |
| Return on equity | utility request | party-utility | — | 10.4% |