NJ electricity bills leaping by as much as 20%; see what you'll pay and why

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NJ electricity bills leaping by as much as 20%; see what you'll pay and why

//business-finance.news-articles.net/content/202 .. y-as-much-as-20-see-what-you-ll-pay-and-why.html

Published in Business and Finance on Thursday, February 13th 2025 at 6:20 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

You're going to feel a proverbial electric shock when you crack open your electric bill this summer, judging by the results of the state's annual wholesale electricity auction. Monthly electric bills will see increases that range from 17.

The article from MSN discusses the significant increase in electricity bills for New Jersey residents, with some facing hikes of up to 20%. This surge is attributed to several factors including rising energy costs, infrastructure investments, and changes in energy policy. Specifically, the state's utility regulators have approved rate increases for major electric companies like PSE&G, JCP&L, and Atlantic City Electric to cover the costs of infrastructure upgrades, renewable energy initiatives, and other operational expenses. The article outlines how these increases will affect different customer classes, with residential customers seeing the most substantial percentage increases. It also provides tips for consumers on how to manage or reduce their electricity usage to mitigate the impact of these higher rates, such as energy efficiency measures and exploring alternative energy sources.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/personalfinance/nj-electricity-bills-leaping-by-as-much-as-20-see-what-you-ll-pay-and-why/ar-AA1yXTYQ ]