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June 22, 2018 New Jersey Board Of Public Utilities Document.pdf

6-22-18-LSB.pdf

Preview of June 22, 2018 New Jersey Board of Public Utilities document

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📊 Size: 584 KB

📄 Pages: 26 pages

⬇️ Downloads: 140

Summary

The New Jersey Board of Public Utilities approved a stipulation of settlement between Pivotal Utility Holdings, Inc. d/b/a Elizabethtown Gas and other parties, resolving issues related to the Tax Cuts and Jobs Act of 2017. The stipulation provides for a permanent rate reduction, effective July 1, 2018, with an annual revenue requirement reduction of $12.1 million, or 7.3% of firm distribution revenues. This reduction includes a decrease in annual current federal income tax expense of $9.6 million and an annual amortization of protected excess accumulated deferred income tax. As a result, an average residential heating customer using 1,000 therms per year will see an annual decrease of $33.70, or 3.4%. The company will also refund $5.6 million to customers for the difference between the effective April 1, 2018 rate and charges for January 1, 2018 through March 31, 2018.

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Description

The New Jersey Board of Public Utilities approved a stipulation of settlement between Pivotal Utility Holdings, Inc.

Technical Information

File Format: PDF
File Size: 584 KB
Pages: 26
Language: EN
Total Downloads: 140
Last Updated: 1 month ago

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