First energy exec says jcp&l prices still cheapest despite 20% hike
Electrical Lines

First Energy Exec Says JCP&L Prices Still Cheapest Despite 20% Hike

by
April 24, 2025
Electric rates will rise June 1, but JCP&L says upgrades and reliability improvements are already underway.

MORRISTOWN, N.J. — FirstEnergy New Jersey customers will see an increase in electricity supply prices starting June 1, as the utility giant moves forward with large-scale investments in reliability and infrastructure, according to a letter from Doug Mokoid, president of FirstEnergy New Jersey.

In a message sent to customers this week, Mokoid outlined key developments underway at Jersey Central Power & Light (JCP&L), including progress on the New Jersey Reliability Improvement Project and the utility’s commitment to environmental and community initiatives. Despite the coming rate hike, the company emphasized it continues to offer the lowest residential electric rates in the state.

Key Points

  • Electricity supply prices will increase for JCP&L customers starting June 1
  • FirstEnergy is investing nearly $900 million in infrastructure projects in 2024
  • Over $740,000 in grants issued for economic, safety, and workforce initiatives

Reliability and sustainability at the forefront of FirstEnergy’s plans

FirstEnergy is nearing the halfway mark of its New Jersey Reliability Improvement Project, which aims to enhance service for thousands of customers, Mokoid said.

In tandem with infrastructure work, the company’s environmental efforts were recently recognized when the Merrill Creek Reservoir — co-owned by FirstEnergy — received the Governor’s Environmental Excellence Award.

“Our commitment to you remains steadfast,” Mokoid wrote, adding that the company is “working to keep monthly bills as low as possible” even as significant investment continues in reliability and customer experience.

In addition to infrastructure and sustainability, FirstEnergy and its charitable foundation contributed more than $740,000 in 2024 to support local workforce development, economic growth, and safety programs in New Jersey communities.

Preparing for higher energy usage in warmer months

Mokoid noted that with warmer weather approaching, electricity use is expected to rise — increasing the importance of managing energy consumption. The company’s April newsletter includes information on how customers can shop for electricity suppliers and find energy efficiency tips to help control costs.

The rate increase taking effect June 1 reflects broader changes in electricity supply prices. FirstEnergy stated it is committed to transparency around these adjustments and is offering resources to help customers navigate the impact on their budgets.

JCP&L claims it maintains lowest electric rates in New Jersey despite upcoming hike

Even with the scheduled price increase, JCP&L says it retains the lowest residential electric rates in the state. The company is planning nearly $900 million in capital investments this year alone to enhance grid reliability and customer service, a move it says will bring “real benefits” to customers long term.

Mokoid closed the letter by reiterating the utility’s focus on safety, service reliability, and affordability.

“Thank you for allowing us to serve you,” he wrote.

Phil Stilton

Phil Stilton

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital news organization covering New Jersey, national politics, public policy, public safety, and community affairs. With years of experience reporting on local government, elections, law enforcement, and issues impacting residents throughout New Jersey, Stilton has built a reputation for delivering timely news, in-depth reporting, and accountability journalism.

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