Three NJ Utilities to Cut Electric Rates

NEWARK, N.J. -

Electricity will cost less for customers of three utilities in New Jersey but the state’s largest utility will charge more, the Asbury Park Press reported. The state Board of Public Utilities on Wednesday approved the results of the annual electricity auction that sets the wholesale prices utilities pay beginning June 1. PSE&G customers will see their average monthly rates increase by $1.28, but JCP&L customers will pay $1.56 a month less, Atlantic City Electric rates will drop by $3.11 and Rockland Electric will see a 0.7 percent decrease.