By Ben Glickman
FirstEnergy subsidiary Jersey Central Power and Light is proposing a five-year infrastructure improvement plan which could result in rate hikes of over 3%.
The $935 million improvement plan calls for upgrades to power lines and substations over five years.
The company said the typical JCP&L residential customer would see their monthly rate increase by about 3.6% over the course of the five-year plan. The rate adjustments would be incremental.
JCP&L said the proposal was the largest infrastructure investment in its history.
The plan will also include installing thousands of TripSaver devices to reduce outages and enhancing coastal substations to reduce the effects of higher salt levels.
Write to Ben Glickman at ben.glickman@wsj.com
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