2 days ago
New Jersey governor rolls out $430M for power bill rate relief
NEWARK, New Jersey — Gov. Phil Murphy's administration is providing customers with $430 million in electric bill rate relief, a sum that the Democrat and his allies in the Legislature acknowledge is only a short-term solution for rising energy costs.
The relief package includes $100 for all 3.9 million residential ratepayers in the state and another $150 for low- and moderate-income ratepayers. The money is meant to help offset skyrocketing power rates that will increase the average monthly power bill by $25 starting this month.
Murphy called his plan 'immediate and direct economic relief to every household in New Jersey.' The governor announced the plan flanked by legislative leaders from across the state just days ahead of a primary election in New Jersey.
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The $100 discount for everyone will come in one or two parts, something the state Board of Public Utilities still needs to work out. The $150 for lower income residents would be spread out over the next six or so months. Using rough numbers, the rate relief package could offset somewhere between 30 to 80 percent of the bill increases.
