Assembly lawmakers unleashed a wave of legislation this week to remake New Jersey’s energy market in response to outrage over skyrocketing power prices.
One bill, A. 5439, backed by Democratic leadership, would restructure the state’s utility companies, allowing Public Service Electric and Gas Co. (PSE&G) and other utilities to build their own power plants for the first time in a quarter-century. The goal is to spur someone to quickly build new power plants to meet rising electricity demand.
“We’re opening up a clean sheet of paper, we need to consider all options,” said Wayne DeAngelo, the chair of the Assembly Telecommunications and Utilities Committee, who sponsored the restructuring bill.
Utility bills are set to increase by about $25 a month in June, thanks to a power supply crunch within the state and across a 13-state power market that includes New Jersey.
