FOX Business correspondent Madison Alworth reports on what may be causing huge energy price hikes for New Jersey residents on ‘The Bottom Line.’
New Jersey Republican gubernatorial nominee Jack Ciattarelli criticized Democratic Gov. Phil Murphy’s energy policies on Wednesday, blaming them for electricity costs soaring statewide.
Most New Jersey households were hit with a 17%-20% rate hike starting in June, approved by New Jersey’s Board of Public Utilities. Critics have tied the spike in energy costs in part to Murphy’s decision to shut down the state’s nuclear and coal power plants, without setting up meaningful replacements.
“When Phil Murphy took office, New Jersey was an electricity exporter. Today, we’re an importer,” Ciattarelli said Wednesday in an interview on FOX Business’ “The Bottom Line.” “When you go to the exchanges to import your electricity, you’re competing with other states. This is what’s driving the price up.”
NEW JERSEY RESIDENTS’ FURY OVER SOARING ENERGY BILLS COULD HIT DEMOCRATS IN 2026 ELECTION
FOX Business reached out to Murphy’s office for comment.
Murphy was first elected in 2017. He was re-elected in 2021, making him the first Democratic governor in 44 years to win a second term as governor of New Jersey, according to the state’s official website. Under his leadership, the New Jersey Board of Public Utilities has consistently approved rate increases, Ciattarelli added.
New Jersey Republican gubernatorial nominee Jack Ciattarelli criticized Democratic Governor Phil Murphy’s energy policies on Wednesday, blaming them for electricity costs soaring statewide. (Fox News / Fox News)
“We need to reopen the plants that [Murphy] closed down that produce electricity,” Ciattarelli said, asserting that wind power is both unreliable and expensive. “We need to expand our nuclear capabilities in South Jersey. We need to accelerate solar. … And those are the things that I’ll do on day one.”
If elected as New Jersey governor, energy is one of Ciattarelli’s top priorities, as the cost of electricity affects homeowners, tenants and business owners alike. He argued that Mikie Sherrill, the Democratic nominee for governor, would not be able to deliver on her promise to freeze utility rates because the New Jersey Supreme Court would never approve it.
FIRST-EVER TESLA DINER OPENS IN HOLLYWOOD
“We need to get back to being electricity independent,” he said.
A StimSight Research poll of New Jersey residents released Aug. 5 found that Sherill holds a 6-point lead over Ciattarelli. However, Ciattarelli cautioned against relying on polls, especially in New Jersey, where he said the state is not nearly as deeply Democratic as many assume.
New Jersey Gov. Phil Murphy gives a speech on the Hudson River tunnel project at the West Side Yard on Jan. 31, 2023, in New York City. (Michael M. Santiago/Getty Images / Getty Images)
“We’ve won six of the last 11 governor races, and we’re going to win this one,” he said. “Mikie Sherrill’s not from New Jersey, so as I go around the state of New Jersey, what I always say to people is, ‘How about we elect a Jersey guy?’ Someone that actually knows what’s going on.”
TRUMP PLEDGES 50% TARIFF ON COPPER IMPORTS
The state has since moved to investigate PJM Interconnection, its primary grid operator which serves around 65 million people across 13 states and Washington D.C. On Friday, Murphy signed two bills into law to improve accountability and transparency in how PJM Interconnection and its members make decisions.
Close-up view of high-voltage power lines running on wooden poles alongside a street in New Jersey, USA. (iStock / iStock)
“These bills complement our long-term plan of action to hold PJM responsible for hardworking New Jerseyans’ skyrocketing electricity bills and a lack of new energy generation,” Murphy said in a statement. “We are committed to creating a system that is fairer and more transparent for customers and the states that represent them — a necessary change from the opaque practices that have, for too long, defined PJM.”
Earlier this month, PJM sent a letter to shareholders outlining an accelerated plan to address surging demand, driven largely by its data centers.
“PJM operates as a not-for-profit that plans the power grid and administers federally regulated wholesale electricity markets,” told FOX Business in a statement. “Pointing fingers will not solve the supply-and-demand realities driving higher prices for consumers in New Jersey, including challenges that stem from failed policies. Our focus remains on working toward real solutions, because New Jerseyans deserve nothing less.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
FOX Business’ Anders Hagstrom contributed to this report.
