In the News: Recent Developments

The State of New Jersey, Board of Public Utilities voted unanimously (5-0) on April 2, 2004, to hire Saber Partners, LLC to be its financial advisor concerning the issuance of bonds backed by special charges on New Jersey retail electric consumers’ bills. The bonds are to be offered under New Jersey’s Electric Discount and Energy Competition Act (“EDECA”) to reimburse investor-owned utilities for certain power costs.