Murphy announces electric bill rate discount for all NJ residents

💲All NJ ratepayers will get a deduction from their monthly bills

💲Gov. Phil Murphy says the utility group should be investigated

💲NJ utilities may join PSE&G in deferring rate increases

As New Jersey residents brace for a summer of massive electric rate increases that could become a major issue in the November gubernatorial election, Gov. Phil Murphy on Thursday announced temporary relief.

All 3.9 million ratepayers will see a total of $100 deducted from their electric bills this summer and fall. Lower-income families will get a $250 deduction. The deductions will be spread from July to December.

Funding for the deductions will come from the state's Clean Energy Fund, the BPU's share of Regional Greenhouse Gas Initiative funds and the Solar Alternative Compliance Fund.

"This initiative reflects our administration's broader and enduring commitment to making New Jersey more affordable for more families from housing to healthcare to higher education and of course, today's topic to utilities," Murphy said.

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Murphy blames PJM

Murphy blamed PJM, the entity that manages the flow of electricity produced by utility companies to customers in 13 states. The Democrat said PJM did not plan for increased energy use or to bring clean energy sources online.

"As a result of these failures, PJM is now trying to pass the buck on to the people of New Jersey by increasing the average energy bill in our state by a lot of dollars," Murphy said. "And that is, by the way, a lot of dollars, which is a conservative estimate that is shameful and unacceptable."

The governor is also calling for an investigation of potential market manipulation by PJM. Murphy said he is meeting with President & CEO Manu Asthana in Trenton next week.

More relief may be coming. A plan introduced by PSE&G on Tuesday defers the 17-22% rate increase between July 1 and Sept. 30. Customers would be billed the increase, plus interest, during the fall when energy costs are less.

"PSE&G has already announced meaningful summer relief initiatives and we're now having constructive conversations as well with our other utilities," Murphy said.

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GOP calls it another 'Band-Aid'

Republicans were not impressed by Murphy's plan.

State Sen. Anthony Bucco, R-Morris, called it a "cover-up" by Trenton Democrats.

“Today’s announcement from the governor is just another Band-Aid," Bucco said.

"Whether it’s the deferral of the energy cost increase or this credit on your bill, the fact remains it doesn’t fix the overarching problem and it certainly doesn’t go far enough to help the families and small businesses already struggling to afford their utility bills. It simply delays the pain to avoid political fallout in an election year," Bucco said in a statement.

Assemblyman Michael Torrissi, R-Atlantic, called it  "smoke and mirrors."

"The only reason they have money to hand out is because they’ve been quietly stuffing utility bills with hidden charges for years," he said. "Now, right before an election, they want credit for giving a little of it back.”

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