NJ Court Lets PSE&G Keep $2.9B In Breakup Costs

Law360, New York (June 22, 2012, 6:02 PM EDT) -- A New Jersey appeals court on Wednesday ruled that Public Service Electric & Gas can keep the $2.9 billion in stranded costs it was allowed to charge customers after the energy industry was deregulated, rejecting an argument that the costs were inflated and customers should be reimbursed.

The three-judge panel found that the New Jersey Board of Public Utilities acted properly in dismissing customer John Murphy's petition for relief from charges imposed on ratepayers in anticipation of the losses the energy giant would suffer when its...
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