The hits keep on coming, Save Jerseyans.
New Jersey is well known for its horrendous taxes and regulations which plague individual residents and corporations alike, but it’s ratepayers specifically who are taking it on the chin this year.
Coming on the heels of massive (and not fully explained) electricity rate hikes in recent months, the New Jersey Board of Public Utilities (NJ BPU) approved an agreement between New Jersey American Water (NJAW) and the New Jersey Division of the Rate Counsel. The settlement will mean higher water and wastewater rates beginning on September 15th.
“The rate increase is primarily because New Jersey American Water invested more than $1.3 billion in infrastructure improvements to continue to provide safe, reliable water and wastewater service,” the leading state utility explains on its website. “Not only are these investments critical to the public’s health and safety, but they also support the economic health of the communities we serve.”
NJAW claims its average residential customer can expect to shell out an additional $5.32 more per month. However, we heard something similarly modest after the BPU approved electric rate increases but what we’ve subsequently seen has been anything BUT modest.
Is there any reason to expect this experience will be different?
Buckle up.
