JCP&L to Begin Installing Smart Meters in 2023
Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE:FE), will launch a smart meter installation program in 2023, approved by the New Jersey Board of Public Utilities.
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Rhea-AI Summary
Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE:FE), will launch a smart meter installation program in 2023, approved by the New Jersey Board of Public Utilities. Over 1.1 million smart meters will be installed within 36 months, enhancing billing accuracy and energy management for customers. JCP&L's president, Jim Fakult, highlighted previous successes in Ohio and Pennsylvania. Customers will receive advance notification and can opt-out for a fee. This initiative aims to improve power restoration and outage detection.
Positive
- Approval from New Jersey Board of Public Utilities for the smart meter program.
- Installation of 1.1 million smart meters will enhance billing accuracy and customer energy management.
- Expected completion by 2026, improving operational efficiency.
Negative
- None.
Details
News Market Reaction – FE
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HOLMDEL, N.J., March 3, 2022 /PRNewswire/ -- As part of its plan to modernize the electric distribution system, Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE:FE), will begin installing smart meters on customers' homes and businesses throughout its service territory in 2023.
JCP&L's plan was approved this week by the New Jersey Board of Public Utilities (BPU) and includes installation of more than 1.1 million smart meters over a 36-month period. Approximately one-third of the smart meters are expected to be installed each year, with the majority of JCP&L customers receiving a smart meter by 2026.
"Smart meters help ensure accurate readings and will provide customers with information they need to better manage their electricity use. In the future, it will also help us restore power more quickly, especially in storm situations," said JCP&L president Jim Fakult. "FirstEnergy has had tremendous success with this technology in Ohio and Pennsylvania and we are excited to bring it to our customers in New Jersey."
Smart meters differ from traditional electric meters in that they allow for two-way communication and automated meter reading. They also help ensure accurate billing each month by virtually eliminating estimated readings. Customers will be able track energy consumption to better manage their electricity costs and reduce energy usage. Future benefits include the ability to detect and locate outages more quickly and provide more accurate and timely storm restoration information.
About one month prior to smart meter installation, customers will receive information by mail addressing common questions and notifying them of their upcoming installation. On the day of installation, customers can expect the process to take minutes with minimal disruption to their electric service. Customers will have the ability to opt out of receiving a smart meter by paying a monthly fee.
Across its service territory, FirstEnergy has installed more than 2.7 million smart meters since 2014. Smart meter implementation efforts are nearly complete in Pennsylvania and currently underway in Ohio.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its 10 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 Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
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