Get ready New Jersey, your electricity bill is very likely going up in spring.
The Board of Public Utilities announced the changes following the end of the auction for Basic Generated Service, which determines cost for the next 12 months. The changes to electric bills will start in June.
Homeowners around New Jersey will be looking at an extra $22 to $28 per month added to their utility bill.
This is the breakdown for the four major providers:
- PSE&G will see an average increase of 17.24%.
- JCP&L will have an estimated increase of 20.20%.
- Atlantic City Electric will see a 17.23% bump.
- Rockland Electric customers would see bills go up by 18%.
Brian Lipman is the director of the New Jersey Division of Rate Counsel.
“The only thing they really can do is look for ways to conserve. Use less, get more energy-efficient appliances, keep the air conditioner a little hotter than you would’ve normally," he says.
Lipman says that PJM, which operates the grid that runs from New Jersey to North Carolina and all the way to Chicago, has artificially raised rates.
“The rules are creating something where there seems to be more demand than supply and prices are going," he says.
The Board of Public Utilities President Christine Guhl-Sadovy released a statement, "The Murphy Administration will continue to aggressively push and hold PJM accountable to address rising costs by expediting interconnection and implementing additional market reforms.”
In the meantime, customers will be left to deal with these rising prices.
The BPU says it will, along with providers, offer assistance to those who have trouble meeting their bills.