Atlantic City Electric will spend $79 million on system upgrades and new infrastructure to its electric grid to further improve system reliability during the next five years.
The New Jersey Board of Public Utilities announced Wednesday its approval of PowerAhead, the electric company’s grid-resiliency program.
PowerAhead is a wide-ranging plan to update the electric grid through enhancing system resiliency by addressing weak areas on the electric system that have had extended outages during recent severe storms.
Over the five years of the program, PowerAhead will result in gradual rate changes as individual projects are completed and are serving customers.
The PowerAhead distribution rate adjustment will result in a rate increase for a typical residential customer using 716 kilowatt hours per month of 0.38 or 0.49 percent on top of their current bill, upon completion of all projects after five years, the company said. The first rate adjustment is not expected before July 2018.