By Jessica Mazzola
Of the seven utility companies that operate in New Jersey, Orange & Rockland – which services Oakland, Franklin Lakes, part of Wyckoff and several other Bergen County towns – will have one of the lowest costs associated with recovering from last year’s Hurricane Sandy.
However, according to a new list from NJSpotlight.com, O&R still has outstanding costs of about $25 to $30 million from the superstorm.
Topping the list is Jersey Central Power & Light, which NJSpotlight.com reported will need to recoup $630 million to pay for Sandy.
Rockland Electric, the O&R subsidiary that services NJ, came in fifth on the list. The relatively low cost is likely due to RE’s size, the report said. It is the smallest utility company in the state.
Utilities in between on the list were PSE&G at $250-$300million, Atlantic City Electric at $85 million, and New Jersey Natural Gas at $76.3 million.
According to the list, the New Jersey Board of Public Utilities will soon be holding hearings to determine how NJ utilities will recover the costs from extreme storms like Sandy. The article speculates the outstanding costs will mean increased energy bills for customers across the state.