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New Jersey Power Bills Won't Go Up in Sale of Utility to Ohio's FirstEnergy.
From:
Knight Ridder/Tribune Business News
| Date:
August 25, 2001
| COPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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By Kevin G. DeMarrais, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Aug. 25--Nearly 1 million GPU customers across the state will be spared paying $300 million in deferred rate hikes under the terms of an agreement selling the utility to an Ohio company.
GPU Inc., New Jersey's second-largest utility with thousands of customers in Morris and Passaic counties, is being sold to FirstEnergy Corp. of Akron, Ohio, for $11.9 billion.
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