(CNBNewsnet)(May 23, 2018)--NJBIA President & CEO Michele N. Siekerka Esq. issued the following statement today regarding Governor Murphy's signing of nuclear subsidy (S-2313) and clean energy (A-3723) legislation today.
"The signing of today's bills continues the concerning trend of adding to the already high cost of doing business in New Jersey, while creating new ratepayer obligations, without prior consideration of comprehensive planning to address the needs of our state.
"Relating to S-2313, NJBIA has long supported nuclear power and understands that it is an important part of our fuel diversity. But that need must be balanced with the need for business to remain regionally competitive.
"This legislation continues the trend of not analyzing what the ultimate economic impact to the ratepayer will be and does not offer any needed offsets to neutralize the impacts on business ratepayers.
"Relating to A-3723, NJBIA recognizes the desire to transform our markets, but we disagree with the approach. This legislation makes sweeping changes to the current targets, incentives and ratepayer obligations without utilizing the state's Energy Master Plan as a policy and planning document. Typically, changes of this magnitude are preceded with months of stakeholder input and analysis to determine impacts on markets and its feasibility to implement.
"While today's order sets a noble goal for clean energy, it is, again, important that full stakeholder input be part of the process of drafting a new, comprehensive Energy Master Plan to help determine what is achievable. NJBIA looks forward to being part of that process."