FUTURE ELECTRIC RATES COULD BE ON THE RISE

The costs related to storms like Hurricane Sandy can be measured in both long and short terms. One long range effect of October’s super-storm could be higher electric rates for local residents. Utility companies can petition the state BPU for rate increases to recover costs from extreme weather events. According to a report in The Press of Atlantic City, final damage figures have not yet been tallied, but Atlantic City Electric needed to replace 106 utility poles and 205 transformers, more than twice the amount of damage from Hurricane Irene. The electric company is now collecting $7.7 million in rates over a three-year period to cover the costs of that storm.