
Warning of massive rate hikes for PSE&G customers in New Jersey
💲 Utility bills have been skyrocketing in New Jersey
💲 Federal watchdog warns more rate increases are coming
💲 PSE&G fined by regulators
Electric bills are already skyrocketing in New Jersey. If you are a PSE&G customer, you may have a new worry.
The Washington, D.C.-based advocacy group Public Citizen is warning of massive rate hikes connected to a nearly half-billion dollar project to replace aging transmission lines in New Jersey.
PSE&G has claimed 51-miles of infrastructure needed to be replaced across 17 municipalities in New Jersey because the current lines and towers were at the end of its useful life.
The project comes with a price tag of $546 million.
However, the Federal Energy Regulatory Commission (FERC) recently fined PSE&G $6.6 million for failing to provide full details about the project.
PSE&G continues to defend the need for the project, but by agreeing to pay the fine the company neither admits nor denies allegations they did not make a full disclosure.
Public Citizen called the lack of disclosure "harrowing fraud" and worries PSE&G customers will be forced to bear the cost through rate hikes.
In fact, they argue, customers have already been charged. They are asking FERC to determine how much. New Jersey utility regulators approved rate hikes for PSE&G and other electric providers last February.
A spokesman for the federal agency told NJ.com the matter is pending before the commission, but provided no details.
Shockingly high bills
Electric customers in New Jersey have been complaining for months about high bills.
Some consumers saw their monthly bills from PSE&G, JCP&L and Atlantic City Electric nearly double.
While the rate hikes approved by the New Jersey Board of Public Utilities were between 3% and 9%, they came at a time when New Jersey was hit with an historic heat wave and people were running air conditioners non-stop. 2024 was the second hottest year on record dating back to 1895.
The surge in electric use combined with the rate hikes resulted in massive increases for many customers.
New Jersey Congressman Jeff Van Drew, R-1st District, still took issue with the sharp increases and held a congressional hearing on the costs.
“We need to ensure big companies cannot take advantage of the system and leave hardworking families paying the price,” Van Drew said at the time.
What happens next?
Rep. Van Drew is continuing to pursue an audit of the rate structure at Atlantic City Electric and has introduced some consumer focused legislation he claims will guard against massive rate spikes in New Jersey.
The New Jersey Rate Counsel is charged with advocating on behalf of utility customers. Director Brian Lipman told NJ.com he was "extremely concerned" about the situation at PSE&G and his agency is conducting its own investigation.
No timetable has been released by the Federal Energy Regulatory Commission with regard to its investigation into the conduct of PSE&G.
Another increase in electric rates could come as early as February after the New Jersey Board of Public Utilities oversees an annual auction where utilities bid for electricity on the open market and set competitive prices.
Don't complain: Seven reasons why you're lucky to be living in NJ
Gallery Credit: Mike Brant
NJ towns that flipped for Trump in 2024
Gallery Credit: New Jersey 101.5
NJ fast food: If you don't have these apps, you're losing money
Gallery Credit: Erin Vogt
Report a correction 👈 | 👉 Contact our newsroom
More From New Jersey 101.5 FM








