Gov. Mikie Sherrill wasted no time on her inauguration day, signing a pair of executive orders aimed at energy costs before her speech was even over.
“Before I even … finish this speech … I’m going to sign my first in a series of executive orders to declare a state of emergency on utility costs,” she said. “I’m issuing an executive order giving the New Jersey Board of Public Utilities the authority to pause new utility requests for additional rate increases, and I will freeze rate hikes to finally provide families with real relief on their energy bills.”
The pair of executive orders acknowledges the factors driving up energy costs that are outside the state’s control: sky-high capacity auction prices for the 13-state regional grid PJM that New Jersey is a part of, volatility of gas prices and federal tariffs that hinder the development of renewable generation like solar.
While the order doesn’t exactly freeze rates, it diverts state funding for clean energy infrastructure to offset increases on ratepayer bills.
