New Jersey lawmakers are considering legislation to build a new nuclear plant, which could jeopardize Gov.-elect Mikie Sherrill’s promise to keep rates down for consumers.
Advocates representing a diverse range of interests have come out in force against the bill, warning against putting ratepayers on the hook for building the costly power plant before it produces any power.
“What we’re really looking at is higher rates and no benefit during [Sherrill’s] first term,” said Brian Lipman, director of the Division of Rate Counsel, who has testified against the bill as it moved through the Legislature.
Lipman’s office believes the legislation will saddle ratepayers with monthly bill increases of up to $55 a month. But the New Jersey Board of Public Utilities, which helped draft the bill, estimates customers would not see an increase of more than $3 a month. The wildly divergent cost estimates are causing controversy for the legislation and handwringing about whether such policies should even be set by an outgoing administration.
