May 26, 2017 11:28 PM ET

Electric Utilities

Company Overview of Jersey Central Power & Light Company

Company Overview

Jersey Central Power & Light Company, an electric utility, provides regulated electric transmission and distribution services. It serves residential, commercial, and industrial customers in northern, western, and east central New Jersey. The company was founded in 1925 and is based in Akron, Ohio. Jersey Central Power & Light Company is a subsidiary of FirstEnergy Corp.

76 South Main Street

Akron, OH 44308

United States

Founded in 1925

Key Executives for Jersey Central Power & Light Company

Age: 52
Principal Financial Officer, Principal Accounting Officer and Controller
Age: 58
Chief Executive Officer of Firstenergy Corp
Age: 60
Vice President of External Affairs
General Manager of Operation Services
Compensation as of Fiscal Year 2016.

Jersey Central Power & Light Company Key Developments

Jersey Central Power & Light Plans to Invest $359 Million During 2017 on Infrastructure Projects and Other Work to Enhance Reliability Across its 13 County Northern and Central New Jersey Service Area

As part of its ongoing efforts to strengthen the durability and flexibility of its electric transmission and distribution systems, Jersey Central Power & Light (JCP&L) plans to invest $359 million during 2017 on infrastructure projects and other work to enhance reliability across its 13 county northern and central New Jersey service area. Major projects scheduled for 2017 include finishing construction of a new 16- mile, 230 kilovolt (kV) transmission line in Monmouth County, building a new 34.5 kV power line in Monmouth County and installing new communication equipment across the JCP&L service area to help enhance remote-control capability. Other scheduled work includes 94 circuit upgrades, and replacing breakers and other voltage-regulating equipment. Projects scheduled for 2017 include: Completing construction of a new 16-mile, 230 kV transmission line from a substation in Howell to a substation in Neptune, and installing five one-ton circuit breakers at a cost of about $24 million. Installing new high-speed communication equipment across the JCP&L service area at a cost of $11.6 million to help enhance the remote operation of the electric system. Upgrading more than 90 distribution circuits to enhance service reliability at a cost of $4.7 million. Upgrading transmission protective devices, circuit breakers and other equipment across the JCP&L service area at a cost of $5.4 million. This equipment automatically disconnects from the system when a problem is detected to reduce the length of an outage and the number of customers that are affected. Adding a new 34.5 kV transmission line in Eatontown at a cost of $4.8 million. Installing new 230 kV circuit breakers at a substation in Matawan at a cost of $2.1 million. Replacing switches at substations in Jefferson Township and Sayreville at a cost of $1.4 million. Replacing underground distribution cables in multiple areas. Inspecting and proactively replacing, if needed, more than 27,800 utility poles.

Jersey Central Power & Light Announces Settlement Approval by New Jersey Board of Public Utilities in the Base Rate Case

Jersey Central Power & Light announced the New Jersey Board of Public Utilities (BPU) has approved a settlement in the company's base rate case that will help support and build on the significant service reliability enhancements made by the utility in recent years to benefit its more than one million customers in the state. Parties to the settlement include: the BPU staff, New Jersey Division of Rate Counsel, Gerdau Steel, U. S. Department of Defense and New Jersey Large Energy Users Coalition. The settlement results in a 3.6% overall rate increase - or $3.98 a month - for a residential customer using 768 kilowatt hours of electricity, which is the average monthly usage for all company's residential customers. Even with the increase, the company continues to offer the lowest residential electric rates among New Jersey's four regulated electric distribution companies.

Jersey Central Power & Light Relocating Central New Jersey Regional Headquarters to Bell Works Site in Holmdel

Jersey Central Power & Light announced that it will relocate its central New Jersey regional headquarters next year to the Bell Works complex, at 101 Crawfords Corner Road, in Holmdel, N.J. JCP&L has signed a 10-year lease agreement with Somerset Development to occupy 64,000 square feet in Building One at the four-building Bell Works. The lease at the current JCP&L regional headquarters in Red Bank expires in 2017. Nearly 200 JCP&L engineering, corporate billing, human resources, senior management, outage restoration, and support staff employees will be relocated from the current Red Bank facility to Bell Works by early summer 2017. A key component of the relocation effort will be moving JCP&L's central region dispatch office from the Red Bank facility to Holmdel. System operators and support staff monitor the electric system and dispatch line personnel or substation workers, as needed, to restore service interruptions for customers in Burlington, Mercer, Middlesex, Monmouth and Ocean counties.

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