Municipal Energy Audit Release

New Jersey Board of Public Utilities PRESS RELEASE For Immediate Relase: Contac: June 2, 2008 Doyal Siddell 973-468-8515 COALITION OF MID-ATLANTIC STATE UTILITY REGULATORS AND ELECTRICITY BUYERS SEEKS $12 BILLION REGION-WIDE CUT IN COSTS TO ELECTRICITY CUSTOMERS New Jersey Board of Public Utilities Seeks $2.3 Billion Over Three Years for New Jersey Customers (NEWARK, NJ) -- The New Jersey Board of Public Utilities (NJBPU) has joined utility regulators from Maryland, Pennsylvania and Delaware – and a coalition of electricity buyers and consumer advocates – in filing a complaint with the Federal Energy Regulatory Commission (FERC) seeking to cut unreasonable “capacity” payments for the period from June 2008 through May 2011. "We must recover some of the billions of dollars in excessive capacity payments charged to electricity customers in our states, who are finding it increasingly difficult to make ends meet with energy prices already high and rising," said NJBPU President Jeanne M. Fox. "This is just one of the steps we must take as we work to meet the goal of Governor Corzine's Energy Master Plan to bring affordable and reliable supplies of electricity to our residents and businesses." The complaint challenges the results of three auctions under the Reliability Pricing Model (RPM), a new electricity capacity market construct approved by the FERC and designed by PJM Interconnection LLC (PJM), which operates ...