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The New Jersey Board of Public Utilities has told Jersey Central Power & Light that it must make public its finances and explain its rates system after concerns arose that the company could have potentially taken in as much as $90 million more than it should have.
According to the New Jersey Star-Ledger, the assertion was first made by Stefanie Brand, a ratepayer advocate who said her suspicion started after the utility's poor response to power outages that were caused by Hurricane Irene and last year's late October snow storm.
Brand stated that JCP&L could have earned more money than it was allowed by cutting costs and not divulging where or how.
"When a company doesn’t come in for a long time, it’s fair to assume the rate set six years, ago, seven years ago, is still enough, that they’re satisfied with what they’re earning," Brand said, referring to JCP&L's electricity rates, which were set in May 2005.