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FirstEnergy (NYSE:FE) said Thursday its Jersey Central Power and Light subsidiary will propose a $935M infrastructure improvement plan that calls for upgrades to power lines and substations over five years.
JCP&L said the plan represents the largest infrastructure upgrade investment in its history.
If approved, the company said its typical residential customer using 783 kWh/month of electricity, whose bill is currently $116.88, could expect to see a total increase of ~$4.16, or 3.6%, on their monthly electric bill over the five years.
The plan would include installing more than 2K TripSaver devices – programmable devices that work like a circuit breaker in a home – to reduce the size and duration of outages and enhancing coastal substations to reduce the effects of higher salt levels.
