The New Jersey Board of Public Utilities (NJBPU) is taking action to help residents manage upcoming electricity bill increases. The Board has ordered the state’s four electric distribution companies to submit cost mitigation plans by May 5, 2025, specifically designed to reduce the impact of higher bills during summer months when electricity usage typically increases.
This is in addition to the call for a federal investigation into auction price market manipulation that the State asked for last week.
Beginning June 1, New Jersey residents can expect electricity bill increases ranging from 17% to 20%, depending on their service area. These increases stem from capacity market prices set through PJM’s Base Residual Auction and New Jersey’s Basic Generation Service auctions.
“Today’s actions ordering the EDCs to develop cost mitigation plans demonstrate the Board’s commitment to helping manage costs and put affordability within reach for more families,” said NJBPU President Christine Guhl-Sadovy.
Governor Phil Murphy emphasized his administration’s focus on “immediate solutions to the PJM cost crisis” to provide relief for families and businesses.
The Board has also approved a second Residential Energy Assistance Payment and proposed expanding the Universal Service Fund program, which provides bill credits to households earning up to approximately $92,000 annually for a family of four.
Additionally, NJBPU opened enrollment for the next Community Solar Energy Program, which offers subscribers guaranteed savings of 15% or more without requiring rooftop solar installation. The program currently serves over 28,000 New Jersey subscribers who have received more than $37 million in bill credits.
Several other assistance programs are available to help residents manage energy costs, including the Fresh Start Program, Payment Assistance for Gas and Electric Program, Low Income Home Energy Assistance Program, and Lifeline.
Residents needing help with energy bills should contact NJBPU before facing service disruption by visiting www.nj.gov/bpu for more information about available assistance programs.