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Announcement: Rates for Firm Transmission Service

The rates for Firm Transmission Service for each of the Electric Distribution Companies (“EDCs”) for purposes of the 2019 Supplier Master Agreements will be the following:

EDC

Rate for Firm Transmission Service ($/MW-day)

PSE&G1

286.87

JCP&L2

66.02

ACE3

147.33

RECO4

116.57

In the BGS-CIEP Supplier Master Agreement, these rates correspond to the Transmission Charge for each EDC. In the BGS-RSCP Supplier Master Agreement, these rates correspond to the baseline Firm Transmission Rate against which changes will be calculated.

These rates reflect the Open Access Transmission Tariff (or “OATT”) rates in effect on January 1, 2019 and reflect Reliability Must Run (“RMR”) and Transmission Enhancement Charges (“TECs”) of zero.1  The actual monthly levels of the RMR and TECs that prevail during the supply period will, for purposes of Section 15.9 of the BGS-CIEP and BGS-RSCP Supplier Master Agreements, be considered in their entirety to be changes to the rates for Firm Transmission Service.

PSE&G and ACE have formula-based rates.  PSE&G’s annual updates are filed on or about October 15 of each year and become effective on January 1 of the following year.  ACE’s annual updates are posted on or about May 15 of each year on the PJM website and become effective on June 1 of that year.

1 PSE&G’s announced rate is based on a Formula Rate update filed to the FERC on January 18, 2019 to reflect reductions related to the Tax Cuts and Jobs Act.  PSE&G intends to file the resultant transmission rate to the Board in the near future.  This amended rate will supersede the rate approved by the Board on January 17, 2019.

2 JCP&L’s 2019 rate reflects the settlement reached in FERC Docket No. ER17-217-000, et al. and approved by the FERC on February 20, 2018. On January 17, 2019, BPU approved JCP&L’s joint filing with PSE&G, ACE and RECO reflecting the approved settlement pursuant to SMA Article 15.9 effective February 1, 2019, Docket No. ER18121290. For JCP&L, TECs applicable to projects being developed by JCP&L and which are applicable to customers in JCP&L’s service territory are included in the rate for Firm Transmission Services.

3 The current ACE formula-based rate was approved by the New Jersey Board of Public Utilities (“BPU”) on August 29, 2018, subject to SMA Article 15.9 adjustments for the June 1, 2018–May 31, 2019 period.  On or about May 15, 2019, ACE will post on the PJM website the rate effective for the June 1, 2019–May 31, 2020 period.  The SMA Article 15.9 adjustments, after approval by the BPU, will be net of the ACE formula-based rate at the time of the BGS Auction with the ACE formula-base rate at the time of the auction and any related (SMA Article 15.9) BPU-approved credits or charges made to the supplier by ACE or PJM.

4 RECO’s rate reflects FERC’s Orders in Docket Nos. EL18-111 and ER18-1585, which decreased RECO’s stated transmission rate to reflect the lower corporate tax rate in the recently passed Tax Cuts and Jobs Act.

January 22, 2019.

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