Feb 7 (Reuters) - Power rates for most New Jersey customers declined following the state's power auction, state utility regulators said Thursday.
Public Service Gas and Electric (PSE&G) rates, however, will remain the same because of increased costs for major transmission projects in that utility's service area, the regulators said.
This so-called Basic Generation Services (BGS) auction, which is held each year, averages three years of bidding results. The results in most utility service areas in 2013, except PSE&G, were lower than in 2010, pulling the average down.
PSE&G is a unit of Public Service Enterprise Group Inc .
(Reporting by Scott DiSavino; Editing by Lisa Von Ahn and Nick Zieminski) Keywords: UTILITIES NEWJERSEY/POWER
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