Talk about rate shock.
The state’s gas and electric utilities aim to recover nearly $1 billion in costs they incurred restoring power and service after extreme storms in the past few years, and the costs keep rising.
And that’s not all.
The cost to utility customers to harden the power grid dwarfs even that amount in filings by companies to the New Jersey Board of Utilities, with utilities seeking to spend in excess of $4 billion on projects to avert similar widespread outages as those that occurred during Sandy and other storms in recent years.
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