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CMP can defer, recover costs from 2020 nor easters, PUC decides
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CMP can defer, recover costs from 2020 storms, regulators decide
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Diverting funds
In the past few weeks, FirstEnergy, JCP&L, and its 13 other utilities acknowledged in filings with the Federal Energy Regulatory Commission that money was improperly collected from those companies and diverted to the parent company.
JCP&L detailed parts of its internal investigation in those filings.
“FirstEnergy recently identified certain transactions, which, in some instances, extended 10 or more years, including vendor service that were improperly classified, misallocated to FirstEnergy utility and transmission companies or lacked proper documentation. These transactions resulted in amounts collected from customers that were immaterial to FirstEnergy and JCP&L,’’ the filing said. The statement also said the utility and transmission companies will be working with the appropriate regulatory agencies to address these expenditures.
Credit: FirstEnergy Corp. via Creative Commons CC BY ND 2.0
JCP&L installing automated devices to help reduce duration of power outages
Jersey Central Power & Light is coming under scrutiny from state regulators once again, this time to assess the transactions between the state’s second-largest electric utility’s affiliates and its parent, FirstEnergy Corp.
The New Jersey Board of Public Utilities Wednesday hired a consultant to conduct a comprehensive audit of JCP&L, including a detailed examination of its management operations, by the Liberty Consulting Group. The $1.47 million to be paid to the consultant was the highest of the six proposals received.