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New Jersey faces steep electricity bill increases after PJM capacity auction; BPU, state officials seek fixes
Summary
Lawmakers pressed the New Jersey Board of Public Utilities and PJM Interconnection on March 28 after a capacity-market auction produced sharply higher wholesale prices that will raise retail bills this summer. Officials outlined short‑term bill credits and long‑term grid, market and supply measures to blunt the impact.
Members of a joint Senate and Assembly committee on March 28 pressed state regulators and PJM Interconnection about wholesale electricity price increases that will translate into higher residential and business bills this summer.
The hearing followed results from PJM’s most recent capacity auction, which produced much higher clearing prices than earlier auctions and—according to the New Jersey Board of Public Utilities (BPU) and the Division of Rate Counsel—will raise retail costs for customers statewide.
Why it matters: wholesale capacity prices are one component of the retail bill. When the auction clears at a higher level, utilities and suppliers pay more for capacity that is then recovered in customer rates. The committee focused on near‑term relief for vulnerable households and on market, transmission and permitting reforms to bring new supply online faster.
What officials said
Christine Gould Sidovi, president of the New Jersey Board of Public Utilities, told the committee…
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