New Law Targets Rising Electric Rates with Greater Utility Transparency
Karabinchak Bill Aims to Keep Power Costs Affordable for New Jersey Families.
TRENTON — A bill sponsored by Assemblyman Robert Karabinchak (D-Middlesex) to increase transparency and accountability at PJM Interconnection, the regional power grid operator, has been signed into law.
Mark Tyler
The legislation, A5463, requires New Jersey’s electric public utilities to file annual reports with the New Jersey Board of Public Utilities (BPU) detailing how they vote on matters before PJM. The reports must include a description of meeting purposes, the utility’s role in the discussion, and an explanation of how each vote advances the state’s priorities of affordability, reliability, sustainability, and energy conservation.
“Rising energy rates are simply unacceptable, and Assembly Democrats continue to fight on behalf of the ratepayers to bring those costs down,” Karabinchak said. “I’m proud to see Bill A5463 signed into law and I know that it will help ensure PJM members take responsibility for their decisions, increasing the public’s confidence in the decisions being made.”
Karabinchak Pushes Accountability as Energy Affordability Takes Center Stage.
Assemblywomen Melinda Kane (D-Camden/Burlington) and Garnet Hall (D-Essex) also co-sponsored the legislation.
Mark Tyler
The measure comes amid growing scrutiny of PJM, which oversees the electric grid serving more than 65 million people across 13 states and the District of Columbia. Critics, including Karabinchak, argue the organization has not adequately addressed New Jersey’s energy needs while ratepayers face rising costs.
Karabinchak highlighted the bill during testimony at a joint hearing of the Assembly Environment, Natural Resources, and Solid Waste Committee and the Senate Environment and Energy Committee earlier this week. Lawmakers also heard testimony about alternative energy sources.
The Middlesex County lawmaker pointed to another proposal he is sponsoring, A1478, which would establish a pilot project to study wave and tidal energy as a renewable resource. Under that bill, the BPU would be required to solicit applications and oversee a comprehensive study evaluating the feasibility and benefits of harnessing ocean energy along New Jersey’s coastline.
Mark Tyler
“As we work to address energy affordability in the state, we must continue to explore alternative energy sources and this legislation would help us do that,” Karabinchak said. “New Jersey’s vast coastline gives us access to this valuable and abundant resource, and this study would help us determine how to best harness it to meet our clean energy goals.”
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