New Jersey’s leading electric companies are set to offer relief to customers this summer by implementing a temporary bill reduction. The New Jersey Board of Utilities announced that Atlantic City Electric, PSE&G, Jersey Central Power & Light, and Rockland Energy will provide a $30 credit on customers’ bills for both July and August. This initiative, designed to alleviate financial strain during the high-demand summer months, comes amidst rising energy prices that have sparked discussions among state lawmakers.
While customers will enjoy these savings in the short term, the credits will ultimately need to be repaid. Beginning in September and continuing through February, the $30 credits will be recouped in $10 monthly increments, ensuring that customers do not end up paying more than they ordinarily would have for their energy usage, according to officials.
Additionally, the agreement includes a commitment from these services to suspend power shut-offs for eligible customers during July and August and to waive reconnection fees. This measure, requested by Governor Phil Murphy, aims to support those facing challenges due to high energy costs.
Governor Murphy emphasized the importance of finding immediate solutions to assist families and businesses struggling to manage rising utility costs. His administration is also pushing for broader financial aid, proposing a $430 million relief plan that could benefit all of New Jersey’s 3.9 million ratepayers. This plan anticipates direct aid to most customers amounting to $100, with potentially higher assistance for low- to moderate-income households.
Last summer, rising energy bills were a significant concern for many New Jersey residents, with a reported 20% increase in costs after the approval of new rates through the annual energy auction. The state’s proactive response, including extending the winter moratorium on power shut-offs to cover the summer months, reflects a commitment to address these critical issues head-on.
As the situation continues to evolve, it is reassuring to see steps being taken to ensure that relief is provided to those who need it most, highlighting New Jersey’s focus on energy affordability and consumer support during these challenging times.