STATE OF NEW JERSEY
Division of The Ratepayer Advocate
31 Clinton Street, 11th Fl.
P. O. Box 46005
Newark, New Jersey 07101
RICHARD
J. CODEY Acting Governor |
|
SEEMA
M. SINGH, Esq. |
Press Release
For
Immediate Release November 29, 2005 |
For
Further Information |
N.J. Ratepayer Advocate Files Testimony On Proposed PSE&G- Exelon Merger
Newark, N.J.—The New Jersey Ratepayer Advocate, Seema M. Singh, yesterday filed
additional testimony and recommendations with the presiding state Administrative
Law Judge and the Board of Public Utilities (BPU) regarding the proposed merger
of Public Service Electric and Gas Company (PSE&G) into Exelon Corp.
Yesterday’s comments by four expert witnesses complete the testimony of a total
of nine consultants retained by the Ratepayer Advocate whose expertise is in
accounting, finance, economics and related areas to assist the division in its
review of the merger. The Ratepayer Advocate and its consultants focused their
review of the merger in four key areas required by the statute: the impact on
competition; the effect on the rates paid by ratepayers; the impact on the employees
of the concerned utilities; and the effect on the provision of safe and adequate
utility service at just and reasonable rates.
The Ratepayer Advocate conducted a careful review of the pending petition for
the two companies, including discovery, depositions and interviews to ensure
New Jersey ratepayers are fully protected. The Ratepayer Advocate continues
to participate in public hearings scheduled throughout the state. Administrative
Law Judge evidentiary hearings on the merger are scheduled for January 2006.
The Administrative Law Judge will issue an initial decision and the BPU will
make the final decision on whether the proposed merger should be approved.
For the filed comments of the Ratepayer Advocate on the merger, please go to the website at www.rpa.state.nj.us.
The Division of the Ratepayer Advocate is an independent state agency that
represents the interests of consumers of electric, natural gas, water/sewer
and telecommunications and cable TV service. It serves as an active participant
in every proceeding whenever New Jersey companies seek changes in rates or services.
The Ratepayer Advocate also gives consumers a voice in setting long-range energy,
water, and telecommunications policy that will affect the delivery of services
well into the future. Additional information on this and other matters can be
found at the Division of Ratepayer Advocate’s website at http://www.rpa.state.nj.us
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