I/M/O The Petition Of Atlantic City Electric Company for Approval of Amendments to Its Tariff to Provide for an Increase in Rates and Charges for Electric Service Pursuant To N.J S.A. 48:2-21 and N.J. S.A. 48:2-21.1 and for Other Appropriate Relief, BPU Docket No. ER12121071.
On December 11, 2012 Atlantic City Electric Company filed a Petition with the Board of Public Utilities requesting an increase in the Company’s electric base rates of $69.7 million. The Company subsequently updated its filing on January 4, 2013, to reflect actual amounts incurred through September 30, 2012. In that update, the Company’s electric rate request increased to $72.131 million ($77.180 million including sales and use tax) which would be offset by a decrease in the Company’s Regulatory Asset Recovery Charge (“RARC”) of $1.732 million. Based on the Company’s updated filing, electric distribution rates would rise approximately 8.28%.
Public Hearing Statement given by Debra F. Robinson, on April 4, 2013 in Hammonton, New Jersey.
Atlantic Electric Request for Approval of an Increase in Rates and Changes for Electric Service, BPU Dkt. No. ER11080469 In the Matter of the Petition of ACE for Approval of Amendments to its Tariff to Provide for an Increase in Rates and Charges for Electric Service Pursuant to NJSA 48:2-21 and NJSA 48:2-21.1 and for Other Appropriate Relief BPU Docket No ER11080469; OAL Docket No. PUCRL 09929-2011
In August of 2011, Atlantic City Electric filed a Petition with the Board of Public Utilities seeking an increase in base rates of $75.466 million. In addition, the Company requested an increase to its Regulatory Assets Recovery Charge (RARC) in the amount of $0.502 million. The Company proposed to partially offset the base rate increase with a credit of $17.071 million relating to excess depreciation expense. ACE proposed to transfer this credit from base rates to a separate explicit item in the Company’s tariff that would expire on August 31, 2013. ACE’s initial request would have resulted in an electric distribution revenue increase of approximately 20.7% on electric distribution rates.
ACE subsequently updated its filing to reflect twelve months of actual results. In that update, the Company increased its electric rate increase request to $96.587 million and increased its RARC claim by an addition $182,000. Accordingly, the Company is now seeking an increase in its electric distribution rates and RARC of approximately 28.0%
Reply Brief filed by Rate Counsel on August 10, 2012
Initial Brief filed by Rate Counsel on July 27, 2012
In the Matter of the Petition of Atlantic City Electric Company for the Approval of the Sale of Certain Land and Premises Situate in the Township of Maurice River, in Part, and the city of Millville, in Part, County of Cumberland and State of New Jersey to R.W.V. Land & C.M. Livestock, L.L.C. Pursuant to N.J.S.A. 48:3-7. BPU Docket No. EM02050313
Atlantic City Electric Company filed a petition with the New Jersey Board of Public Utilities seeking approval, pursuant to N.J.S.A. 48:3-7 to sell a parcel of land in Millville, New Jersey to R.W.V. Land & C.M. Livestock, L.L.C. for $4 million.
Letter Brief filed by the Public Advocate, Division of Rate Counsel on October 30, 2009.
Reply Letter Brief filed by the Public Advocate, Division of Rate Counsel on December 4, 2009.
I/M/O the Petition of Atlantic City Electric Company Pursuant to N.J.S.A. 48:2-13 and N.J.S.A 48:3-9 for Authority to Issue Short-Term Indebtedness Prior to January 1, 2010, BPU Docket No. EF07080625
On August 17, 2007 Atlantic Electric filed a Petition with the New Jersey Board of Public Utilities requesting to issue prior to January 1, 2010, up to $250 million of short-term indebtedness to be paid no more than twelve months after the issuance thereof. Atlantic Electric also requests that it be authorized to borrow under one or more revolving credit facilities or bank loans, commercial paper, and/or short term notes.
Comments filed by Rate Counsel on November 19, 2007 not objecting to ACE's suggestion requiring the Company to obtain competitive bids from a minimum of two commercial paper dealers rather than the three initially suggested by Rate Counsel
Comments filed by Rate counsel on October 26, 2007
On August 19, 2004, Atlantic City Electric filed an Appeal of the Board's decision in the Deferred Balance case stating that the Board's actions were arbitrary and capricious in denying Atlantic Electric recovery of $44 million in deferred BGS costs. The Appellate Division affirmed the decision of the BPU on August 9, 2007.
Cross Petition for Certification filed by Rate Counsel on September 25, 2007 before the Supreme Court of New Jersey from the Appellate Division's August 9, 2007 decision.
Letter Brief filed by Rate Counsel on October 18, 2007 to the opposition to the Cross Petition for Certification, filed by Atlantic City Electric Company and by the Office of the Attorney General on behalf of the New Jersey Board of Public Utilities.
Atlantic Sale of B.L. England Generating Station- Phase II
BPU Docket No. EM06090638
Atlantic filed its Phase II petition on March 5, 2007. The issues for consideration in the Phase II proceeding was the appropriate mechanism for monetizing the Emission Credits, the appropriate mechanism for returning the net proceeds of the sale to the ratepayers; the prudency and reasonableness of the company’s transaction costs; the prudency and reasonableness of the 2005 BL England capital projects; the appropriate quantification and ratemaking treatment for accumulated deferred income taxes, excess deferred income taxes and accumulated deferred investment tax credits and whether Atlantic will be permitted to seek recovery of $3 million in costs incurred as a result of an agreement entered into by Atlantic and the NJDEP.
A settlement was reached with the parties on the issue of the methodology for monetizing the Company’s excess emission allowances. A partial stipulation was approved by the Board on June 20, 2007. The issue of the appropriate method for refunding to ratepayers the net proceeds from the emission allowance sale and other Phase II issues remain unresolved.
Atlantic completed the emission allowance sale during October 2007, yielding net proceeds of approximately $45 million. The parties are now engaged in settlement discussions regarding the outstanding Phase II issues.