New Jersey permits FirstEnergy rate boost

NEW YORK New Jersey state utilities regulators have approved a rate settlement for FirstEnergy Corp. s Jersey Central Power & Light unit.

Under the settlement, the company, parent of Toledo Edison, can recover $165.3 million in deferred costs that were incurred in contracts with power suppliers from August, 2003, through December, 2005.

The typical residential customer will pay an additional 4.1 percent per month.