New Jersey to Distribute $430 Million to Help Ratepayers With Rising Electricity Costs

New Jersey — New Jersey plans to provide $430 million in relief to electricity customers facing higher energy bills, Gov. Phil Murphy announced June 5. All utility ratepayers will receive a $100 credit toward their bills. Those who qualify as low- or moderate-income households will get an additional $150, totaling $250 in aid. The state funding will come from existing sources, including the Clean Energy Fund, the Regional Greenhouse Gas Initiative, and the Solar Alternative Compliance Program.
Details on how the payments will be distributed have not yet been released. The Board of Public Utilities is expected to approve the package at its June 18 meeting. In response, Atlantic City Electric said it will request approval to issue deferred credits on July and August bills, adding extra help beyond the state funds. Customers will repay the deferred credits interest-free over six months after summer. The utility will also suspend service disconnections for eligible customers from July through September, waive fees for restoring service during that period, and offer extended repayment plans up to 24 months. Rising electricity costs took effect June 1 amid a busy election year, with Governor Murphy and all Assembly seats on the ballot.
Lawmakers blamed the multistate grid operator PJM Interconnection for poor planning that contributed to rate hikes, calling for investigations into possible market manipulation. Republican leaders criticized the plan as temporary and insufficient relief. Senate Republican leader Anthony Bucco called it a “Band-Aid,” and Rep. Jeff Van Drew said residents deserve “real, long-lasting relief.” The New Jersey Business & Industry Association supported aid but highlighted the role state energy policies have played in the rising costs.