Starting from June 1st, residents of New Jersey will see a notable increase in their electricity bills. According to the announcement from the state’s Board of Public Utilities (BPU), electricity bills will rise by over $20, equivalent to an increase of around 17% to 20% for regular consumers.
This increase will affect the majority of households and businesses served by four privately-owned electric companies across the state. Among them, PSE&G customers can expect a 17.24% increase, while JCP&L customers will face a hike of around 20.2%. Users of Atlantic City Electric and Rockland Electric are also expected to experience similar increases.
Although $20 may not seem like much, it remains a challenge for many vulnerable users when it comes to their electricity bills this summer. Brian Lipman, director of the Division of Rate Counsel in New Jersey, suggests reducing electricity usage as much as possible, such as raising air conditioning temperatures and utilizing natural ventilation.
Furthermore, he noted that if electricity bills are causing financial stress, the first step should be to contact one’s electric company, as they can assist in finding suitable subsidy options.
For example, PSE&G offers various state-funded payment assistance options, with special subsidies for the elderly and individuals with disabilities, as well as Equal Payment Plans that spread the annual electricity costs evenly to avoid steep summer bills. JCP&L and Rockland Electric also have similar programs.
Additionally, the New Jersey government provides the following subsidy programs:
1. Lifeline Utility Assistance Program: Elderly, disabled individuals, and those meeting specific medical assistance criteria can receive a yearly $225 electricity bill subsidy.
2. Universal Service Fund: Provides monthly subsidies based on household electricity expenditures.
3. Payment Assistance for Gas and Electric (PAGE): Offers assistance to low and moderate-income families.
4. Residential Energy Assistance Payment (REAP): Eligible households can automatically receive a one-time $175 bill credit.
These initiatives aim to alleviate the financial burden on residents and ensure that essential electricity services remain accessible and affordable for all in New Jersey.