IN THE MATTER OF THE PETITION OF RICHARD G. MURPHY, II, FOR MANDATORY RELIEF FOR PUBLIC SERVICE ELECTRIC AND GAS COMPANY’S OVERCOLLECTION OF “STRANDED COST” SURCHARGES PURSUANT TO N.J.S.A. 48:3-61 A-4758-10T2
The Electric Discount and Energy Competition Act (EDECA), N.J.S.A. 48:3-49 to -98.4, allows an electric utility company to recover certain "stranded costs" by imposing market transition charges (MTC) and transition bond charges (TBC) upon its customers. While EDECA allows the Board of Public Utilities to periodically review the amount of the MTC the company has collected, it does not require the Board to reconsider its prior order fixing the amount of the company's "stranded costs." Furthermore, EDECA precludes the Board from re-evaluating the amount of the "stranded costs" the company may recover through the TBC. 06-20-12
The Electric Discount and Energy Competition Act (EDECA), N.J.S.A. 48:3-49 to -98.4, allows an electric utility company to recover certain "stranded costs" by imposing market transition charges (MTC) and transition bond charges (TBC) upon its customers. While EDECA allows the Board of Public Utilities to periodically review the amount of the MTC the company has collected, it does not require the Board to reconsider its prior order fixing the amount of the company's "stranded costs." Furthermore, EDECA precludes the Board from re-evaluating the amount of the "stranded costs" the company may recover through the TBC. 06-20-12
