Households and businesses in New Jersey are set to see a significant rise in their energy bills following regulatory changes approved by state authorities. The new pricing structure, designed to modernise the grid and promote renewable energy, has sparked concerns over affordability.
Why Are Energy Bills Rising?
The New Jersey Board of Public Utilities has greenlit a series of adjustments that will lead to higher electricity costs for consumers. Officials argue that the increases are necessary to fund infrastructure upgrades and support clean energy initiatives. However, critics warn that the move could place undue financial strain on families already grappling with inflation.
Impact on Households
Analysts estimate that the average monthly bill could jump by as much as 12%, with some commercial customers facing even steeper hikes. Advocates for low-income families are calling for additional safeguards to prevent energy poverty.
Businesses Brace for Higher Costs
Small and medium-sized enterprises (SMEs) are particularly vulnerable to the changes, with many fearing that increased overheads could force price rises or job cuts. The state government has pledged to review support measures for affected businesses.
What’s Next?
While the policy aims to accelerate New Jersey’s transition to sustainable energy, the short-term financial burden on residents remains a contentious issue. Consumer groups are urging regulators to reconsider the timeline for implementation to allow households more time to adjust.
