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N.J. regulators and utilities announce $430 million summer relief package, shutoff protections
Summary
The New Jersey Board of Public Utilities and four investor-owned utilities unveiled a $430 million relief package that includes a $100 one-time credit for all residential customers, extra support for income-eligible households, two $30 monthly credits in July and August (recovered at $10/month Sept–Feb), and a summer suspension of eligible service disconnections.
Christine Goul Sidovi, president of the New Jersey Board of Public Utilities, said the board and the state secured a $430 million package of direct bill relief to blunt sharp increases in electricity supply costs this summer. “That means regardless of income, everyone will receive a $100 in direct bill assistance this summer to help offset the increase in costs,” Sidovi said, announcing the statewide payment.
The package combines state funding with voluntary utility actions. Sidovi said investor-owned utilities agreed to apply $30 credits to July and August bills — $60 in total — that will be repaid over six months at $10 per month from September through February. “No residential ratepayer will pay any more from these deferrals, not a cent more than they would have otherwise paid,” she said.
Why it matters: A recent regional procurement auction run by PJM drove a sharp increase in wholesale electricity prices ahead of the…
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