Bucco: Electric Bills to Rise in June, More Hikes to Come Under Murphy’s Expensive Energy Plan

Senator Anthony M. Bucco said price increases that are set to hit most New Jersey electric bills in June won’t be the last under Governor Phil Murphy’s new energy plan.

“Governor Murphy has pledged a radical upheaval of New Jersey’s energy supply and infrastructure, which will lead to huge cost increases for our families and small businesses,” said Bucco (R-25). “As the governor’s plan is implemented, New Jerseyans will be hit with a massive energy tax that will make living in New Jersey even more unaffordable. The electric rate hikes that will hit bills in June are likely the first of many if the governor has his way.”

The New Jersey Board of Public Utilities (BPU) announced that PSE&G and JCP&L, the state’s largest and second-largest electric utilities, will increase their average customer’s electric bill by 4.4% and 2.4%, respectively, in June as a result of the state’s 19th annual electricity auction. Customers of Atlantic City Electric will see their bills rise as well.

In a recent editorial, Bucco highlighted how electric bill increases are a certainty under the Governor’s recently unveiled Energy Master Plan, which calls for massive infrastructure upgrades to phase out the natural gas that heats 75% of New Jersey homes and provides more than half of the state’s electricity supply.

“The governor wants to eliminate our most affordable energy resource and replace it with alternatives that cost more and require huge investments in expensive infrastructure,” added Bucco. “Unless the Murphy Administration pursues a more reasonable approach to energy, the higher utility bills that customers will pay starting in June may be the tip of the iceberg.”

Bucco called for the Legislature to take an active oversight role to protect ratepayers from the governor’s Energy Master Plan.

“Right now, it looks like the Murphy Administration isn’t concerned with the cost or the consequences of this expensive proposal,” added Bucco. “It’s critical that legislative leadership commit to reviewing the governor’s energy plan to ensure that families, seniors, and businesses are protected from even higher bills they can’t afford.”