PSE&G Releases Sandy Recovery Cost Estimate
By Alexandra Hill, WBGO News
December 4, 2012
PSE&G has released its first cost estimate for its massive Sandy restoration effort.
Despite the almost 300 million dollar price tag, PSE&G says it doesn’t expect the storm to affect its bottom line. It also doesn’t plan on raising rates. The cost of recovery includes everything from replacing damaged equipment to the cost of the nearly 4 thousand out of state workers who assisted in the effort. Spokeswoman Karen Johnson says the estimate may not be the final number.
“This is just an estimate; it’s between as I said 250 and 300 million so we still are compiling some of our costs. This would not include future work that we would need to do to permanently repair our damaged infrastructure.”
Johnson says they are hoping insurance will cover some of the damage but they are not sure how much they will get or when they will get it.