by Ken Lindhorst
This almost $4 billion rate hike is bad for New Jerseyans living on tight, fixed incomes and it is bad for the NJ economy. How can New Jersey be economically competitive if the 7th most expensive electric & gas rates in the nation climb even higher, considering we already pay the nation’s most expensive property taxes? The PSE&G rate hike is too much and too undefined. The proposal does not pass the cost-benefit test and fails to take into account the need for affordable services.
The PSE&G rate hike fails to provide benefits to the majority of customers who experienced outages during Superstorm Sandy. Hundreds of thousands of PSE&G customers would likely be no better off than before they are forced to pay billions more. The PSE&G rate hike fails to meaningfully address the #1 cause of outages during major weather events – trees on wires.
PSE&G fails to promise, let alone commit to any specific level of improved performance. PSE&G is demanding a blank check that will hurt, not help New Jersey.
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