New Jersey electric utility files for rate cut

MORRISTOWN, N.J.

Jersey Central Power & Light is seeking permission from state regulators for a $180 million rate decrease.

The utility, a subsidiary of FirstEnergy Corp., said Monday that the change would reduce the bill for an average residential customer by 5 percent, or just over $66 a year.

If approved by the state Board of Public Utilities, the reduced rates would take effect on Jan. 1, 2011.

The utility said the decrease reflects reduced costs associated with contracts for non-utility generation capacity.

Morristown-based JCP&L serves 1.1 million New Jersey customers.