Electric Grid Enhancements Coming for Northern and Central New Jerseyans

Rhea-AI Summary

Jersey Central Power & Light (JCP&L), a FirstEnergy Corp. (NYSE: FE) subsidiary, is upgrading two power lines in Morris and Monmouth counties in New Jersey. This is part of the $95 million New Jersey Reliability Improvement Project, approved in February. The upgrades, set to complete in November, include:

• Replacing infrastructure with stronger wires and poles
• Upgrading fuses and installing remote-access devices
• Installing TripSaver devices
• Additional tree trimming and vegetation management

The project will enhance 10 miles of lines in each county, benefiting over 4,300 customers. It's the first of 18 line upgrades in a two-phase effort to improve reliability, with the second phase targeted for completion by 2028.

Positive

• Investment of $95 million in grid reliability improvements
• Upgrades to benefit over 4,300 customers in two counties
• Implementation of advanced technologies like TripSaver devices for faster outage resolution
• Long-term reliability improvement project extending to 2028

Negative

• None.

News Market Reaction

+0.89%

1 alert

+0.89% News Effect

On the day this news was published, FE gained 0.89%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

JCP&L upgrades in Monmouth and Morris counties are part of a larger $95 million project

HOLMDEL, N.J., Sept. 3, 2024 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is investing in its customers by upgrading two power lines in Morris and Monmouth counties. The upgrades are scheduled to be completed in November as part of JCP&L's New Jersey Reliability Improvement Project, an element of the company's rate review settlement approved by the New Jersey Board of Public Utilities in February.

Doug Mokoid, FirstEnergy's President, New Jersey: "JCP&L is committed to the safe, reliable delivery of electricity to our 1.1 million customers in New Jersey in a cost-conscious manner. The upgrades we are undertaking as part of the Reliability Improvement Project are one of the ways we are ensuring we are meeting our customer commitments."

The upgrades include:

• Replace existing infrastructure with thicker, stronger wires and poles that can safely carry more electricity and provide more resiliency in storms.
• Upgrading fuses and installing additional remote-access devices and reclosers, which allow power to be rerouted to adjacent lines when an outage occurs, minimizing the number of impacted customers.
• Installing TripSaver devices, which sense temporary abnormalities along power lines, such as a tree branch bouncing off lines, and automatically re-energize the line after the condition has passed without having to send a crew to investigate.
• Additional tree trimming and vegetation management along the circuits.

Equipment enhancements will take place along more than 10 miles of lines in Monmouth County and approximately 10 miles of lines in Morris County.

The Monmouth County upgrades begin at a JCP&L substation in Howell Township and continue along a line that runs to Freehold Township, serving 2,200 customers. In Morris County, 2,174 customers stand to benefit from the upgrades, which begin at a JCP&L substation in Gillette/Long Hill Township before continuing into Chatham Township.

These two lines represent the first of 18 that will receive upgrades under the New Jersey Reliability Improvement Project, a two-phase effort to enhance reliability for customers on high-priority lines selected based on historical outage data. The first phase, which includes at least $95 million in upgrades, is set to be completed over the next three years. Second-phase repairs, which are longer-duration projects, are targeted for completion by the end of 2028.

JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on X @JCP_L, on Facebook at facebook.com/JCPandL or online at jcp-l.com.

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on X @FirstEnergyCorp or online at firstenergycorp.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/electric-grid-enhancements-coming-for-northern-and-central-new-jerseyans-302237091.html

SOURCE FirstEnergy Corp.

FAQ

What is the cost of JCP&L's New Jersey Reliability Improvement Project?

The first phase of JCP&L's New Jersey Reliability Improvement Project, which includes the current upgrades, is set to cost at least $95 million over the next three years.

How many customers will benefit from the power line upgrades in Monmouth and Morris counties?

The power line upgrades will benefit approximately 4,374 customers in total, with 2,200 customers in Monmouth County and 2,174 customers in Morris County.

When is the completion date for the current phase of JCP&L's power line upgrades?

The current phase of power line upgrades in Monmouth and Morris counties is scheduled to be completed in November 2024.

How many power lines will be upgraded under JCP&L's New Jersey Reliability Improvement Project?

A total of 18 power lines will receive upgrades under JCP&L's New Jersey Reliability Improvement Project.