New charges for PSEG customers in New Jersey

PSEG filed with the Federal Energy Regulatory Commission (FERC) an amended tariff that contained PSEG’s annual update to the formula rate for Network Integration Transmission Service (NITS).  The formula rate increased due to the cost of several approved future transmission projects in the service territory.

Additionally, the rate for the Regional Transmission Expansion Plan (RTEP), another transmission related charge, decreased due to the completion of a number of baseline transmission projects in the region.  The changes to PSEG’s tariff were approved by FERC and very recently approved by the New Jersey Board of Public Utilities.  They are effective retroactively to January 1, 2013. Pursuant to the contract terms, the Net NITS Adjustment will be applied to your monthly electricity usage as a Pass-Through Charge for the duration of your Agreement. The net impact of these adjustments is an increase in your Pass-Through Charges as follows:

Net NITS Adjustment = (New NITS rate plus New RTEP rate) minus (Previous NITS rate plus Previous RTEP rate)

Starting on your March invoice and continuing thereafter, this adjustment will be shown as a separate line charge called “NITS Rate Adjustment”.