CNBNews

(TRENTON) — During a New Jersey Board of Public Utilities (BPU) stakeholder meeting today, several New Jersey Democratic Assembly members spoke about the rising costs of utility bills and the negative impact it will have on their constituents. The hearing focused on proposed modifications to the Universal Service Fund, a program that offers a monthly credit on eligible customers’ natural gas and/or electric bills. The program is designed to provide assistance to low- and moderate-income households. During their testimony, Assembly Democrats also highlighted recently introduced legislation to address skyrocketing energy costs.

“The status quo is simply not working. It is clear that we need to dramatically increase supply, freeze these absurdly high rate increases, and provide transparency to ratepayers who deserve answers and solutions,” said Assemblywoman Andrea Katz (D-Atlantic, Burlington). “The proposals today are Band-Aids on a gaping wound and New Jerseyans need solutions that will address the root cause. Frankly, I find it shameful that we are forcing families to figure out ways to cut corners on energy usage because the state has made such a mess of the situation.”

Assemblywoman Katz also spoke on legislation she recently introduced, which would close a loophole that utility companies can abuse to give themselves bonuses (A5437) and that would cap utility rate increases at 2% annually (A5446). Assemblywoman Luanne Peterpaul is also a primary sponsor of Bill A5446 which is co-sponsored by Assemblywoman Margie Donlon.

Assemblyman William F. Moen Jr. also noted two bills that he introduced to address rising utility costs. Bill A5360 would establish an electric utility medical baseline program for certain people and A5438, better known as the Public Utility Fair Profit Act, would require a public utility to annually review its actual revenues collected during the year and its total revenue requirements to determine if the utility collected excess profits during that year.

“While we do think this is a great step, there is certainly more that can be done and should be done. I was lucky enough last week to host a town hall meeting in my district in Camden County where we had over 300 individuals that joined us,” said Assemblyman Moen (D-Camden, Gloucester). “A majority of those conversations I had with my constituents revolved around the affordability crisis as it pertains to energy costs. With the BPU’s assistance, we must also be thinking—as we can—to collaborate on advancing other policies and legislation that make sense for us as a state.”

“Our office in Legislative District 11 has heard from countless residents—seniors on fixed incomes, working families, and small business owners—who are overwhelmed by rising energy and heating bills. These are not just fluctuations; in some cases, we’re seeing monthly bills jump by hundreds of dollars, with no warning and no clear explanation,” said Assemblywoman Peterpaul (D-Monmouth). “If we’re serious about energy affordability, we need to be just as focused on long-term, sustainable solutions—not just programs that treat the symptoms. We need to look at how we build, deliver, and price energy in this state. Let’s treat affordability not as a temporary emergency to be managed, but as a long-term obligation embedded into our policies, our rate structures, and our energy planning.”

“For many families, access to programs like the Universal Service Fund can make the difference between stability and hardship. These efforts matter—and I support them. But we also need to be honest—these programs can’t be the end of the conversation. We are treating the symptoms of an energy system that has become increasingly unaffordable, especially for those already facing health, housing, and income challenges,” said Assemblywoman Donlon (D-Monmouth). “What we need is a broader strategy that looks at sustainable, long-term solutions, which can include clean energy access and modernized infrastructure. Relief programs help people today, but we need to build a future where fewer people need them in the first place. As we look into future energy rates and policies, we encourage the BPU to look at routes for long-term improvements to our energy systems and grids.”

Assembly Democrats recently unveiled a legislative package to provide immediate relief and create long-term solutions for fair energy pricing and better access to assistance programs. Additional bills would rein in the return on equity associated with utility investment and close a loophole that utility companies can exploit to give themselves a bonus on new construction projects.

Today's BPU stakeholder meeting comes just days after the Assembly and the Senate convened a joint hearing to address the rising costs. That hearing highlighted PJM Interconnection’s failure to prevent rising utility costs.