New Jersey lawmakers are bracing for skyrocketing electricity prices to fuel voter outrage this summer.
Utility bills are set to increase by about $25 a month in June, thanks to a power supply crunch within New Jersey and across a 13-state power market that the state relies on.
During a three-hour Monday hearing of the state Senate’s oversight committee, lawmakers seemed ready to entertain laws that just months ago might have seemed radical, like allowing utilities to own power plants again — something they haven’t been able to do since deregulation over a quarter-century ago.
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The Senate hearing was called to discuss surging demand for power from AI data centers, but the driving force was concern about the rate hikes.
