IPPs Lose Bid To Supply N.J. Utility

Fortnightly Magazine - March 15 1997
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The New Jersey Board of Public Utilities has approved a proposal by Jersey Central Power and Light Co., an electric utility, to meet its short-to-medium-term power needs by purchasing power from utility-owned generating facilities located in New York, Ohio and Pennsylvania.

Under the agreement, the utility will purchase a total of 700 megawatts of power over an eight-year period from Pennsylvania Power and Light Co., Cleveland Electric Illuminating Co. and Niagara Mohawk Power Corp.

In approving the proposal, the board found that the bidding procedures used by Jersey Central in selecting the contracts were proper, and the terms of each deal passed its established "market test" procedures.

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