At the heart of a recent dramatic spike in New Jersey electricity bills this summer was the Murphy Administration’s disastrous Energy Master Plan (EMP). And Senator Joe Pennacchio (R-26) warns that ratepayers shouldn’t expect relief in 2025.
“Make no mistake, Governor Murphy’s energy master plan is the driving force behind the absurd surge of utility bills across the state,” said Pennacchio. “I am afraid it will only get worse as our grid efficiency falters and our demand for electricity grows. The governor needs to stop pandering to the far left and start doing what’s right for the Garden State by listening to experts who understand the real-world impacts of his policies.”
According to Pennacchio, the New York Metro region is now the 5th highest in the entire country for electricity prices with an average cost of 28.80 cents per kilowatt-hour (kWh). The Garden State’s statewide average – 19.88 cents per kWh – is 21% higher than the national average.
The Murphy Administration threw fuel on the fire by approving rate increases effective June 1st. Some South Jersey residents have seen their bills double or even triple as summer heat roiled the state’s southernmost counties.
“I have heard from thousands of constituents across the district who have seen their energy bills skyrocket compared to last year with no explanation as to why,” Congressman Jeff Van Drew (R, NJ-02) wrote to the Board of Public Utilities (BPU) back in August. “We must get to the bottom of what is driving these unreasonable increases, whether it is linked to offshore wind turbines, smart meter installations, or something else entirely. There needs to be a thorough investigation with a public hearing, and until we have answers, any energy hikes should be immediately halted. South Jerseyans should not be forced to shoulder this additional burden, especially at a time when record-high inflation is already straining household budgets under this administration. I demand the NJBPU take immediate action to alleviate this strain and protect our residents from these unjust financial burdens.”
Pennacchio agrees that the link between the Murphy Administration’s misplaced priorities and rising energy costs is clear and inescapable. Notably, the Murphy Administration has invested hundreds of millions or even billions in offshore wind development without a single turbine to show for it after Orstead’s October 2023 pullout of the Ocean Wind I project.
“The Murphy administration has fanned the flames of rising costs with disastrous EV mandates, and catering to the wind and solar industry, all while ignoring Republican legislators who are calling for an all-inclusive energy policy with respect to nuclear, natural gas, and renewables,” continued Pennacchio.
“If you think energy prices are bad now throughout New Jersey, just wait until PJM’s price increase hits in 2025,” the Senator added. We’re shutting down reliable energy sources too quickly, while renewables aren’t coming online fast enough, or even being built due to supply chain issues, to keep up with demand. It’s a recipe for disaster that will only worsen if we don’t change course immediately.”
