Assembly Speaker Coughlin Testifies on Rising Utility Costs

“For the past seven years and some months, Democrats in New Jersey have taken an ‘all of the above’ approach to creating clean energy right here in New Jersey. We know that if we help support energy creation here, we can generate the energy our families and businesses need while also creating a generation of middle class, union jobs that will drive our economy forward,” said Speaker Coughlin during his testimony. “Most importantly, we also know what this means for the people of our state. Simply put: lower costs for utilities.”

“Whether it’s been solar, wind, nuclear or energy storage, or whether it’s been weatherizing and making us more efficient, we have worked together to lower costs by creating clean, affordable energy here at home. I fully appreciate that we have not had the best partners. PJM, the organization operating the electric grid that covers New Jersey and all or parts of twelve other states. PJM has prioritized dirty energy, and has constantly worked against our agenda to create clean, affordable energy here in the State. PJM has consistently placed profits to dirty, out-of-state energy producers over costs to people in New Jersey.”

Today’s testimony by Speaker Coughlin follows his recent announcement that the New Jersey Assembly and Senate plan to hold joint public hearings to address rising utility costs. Those hearings will examine potential legislative solutions to provide consumers with relief and follow numerous bills introduced by Assembly Democrats this past week designed to counteract the rising utility costs.

“The new administration in Washington hasn’t been a friend either, they recently wiped out nearly eight years of work done here in New Jersey to create clean energy on federal leases offshore. Republicans in Congress are looking to eliminate tax incentives that have been encouraging the critical construction of new, renewable generation and that have helped support the nuclear generators that produce nearly half of our electricity,” added Speaker Coughlin. “We have introduced a number of bills we hope to use as the basis for a conversation about how we can work even harder on the issue of affordability.”

New Jersey ratepayers are set to see a spike in their utility bills. Last month, the NJBPU announced that starting in June 2025, utility costs are set to rise by up to 20%. This would apply to costs for electricity supplied to most residents and small- and medium-sized businesses. The announcement followed the annual electricity auction for Basic Generation Service. Multiple factors contributed to the increase, including increases in the PJM-determined cost of capacity. The February announcement comes after New Jersey residents, particularly in South Jersey, saw utility bill price hikes last summer.

Read Speaker Coughlin’s full testimony here.