The average utility bill in New Jersey is set to skyrocket beginning in June, the New Jersey Board of Public Utilities announced today, following their annual auction.
“This week’s… auction results are the culmination of several issues: rapidly increasing demand for electricity, coupled with limited supply growth due to lagging new generation interconnection, and flawed market dynamics in the PJM region,” Christine Guhl-Sadovy, President of the NJBPU, explained in a statement.
According to the BPU, the average monthly bill is projected to increase between 17% and 20.2% depending on the service territory.
Jersey Central Power & Light (JCP&L) customers, which includes most of Ocean and Monmouth counties, will see the smallest increases as a result of the auction, with an average increase of $22.67 per month.
PJM Interconnection, the company which operates the electric grid for New Jersey and 12 other states, says their electric capacity prices have reached record totals, increasing by roughly 800% over the previous year.
In New Jersey, there are several assistance programs available for people who are having trouble paying their electricity bills: Universal Service Fund, Fresh Start Program, Payment Assistance for Gas and Electric (PAGE) Program, Low Income Home Energy Assistance Program, Lifeline, NJ Shares, and NJ Comfort Partners.
Additionally, the Winter Termination Program is a utility-led program that protects qualifying ratepayers from service disruption during the winter months from November 15 until March 15
and yet we have politicians pushing Electric vehicles , good luck , they cost to much, they will cost to much to maintain and have no resale value after a few years !
I get HUD so will this effect me? In general food prices dont effect me either as I get food stamps.