New Jersey
On June 1, electricity bills for most New Jersey residents will go up
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Most New Jersey residents will spend more on electricity starting June 1. The state’s annual electricity auction for basic generation service, or BGS, is driving the uptick. According to the New Jersey Board of Public Utilities, electric bills for most residents and small to medium-sized businesses served by the four electric distribution companies will increase on an average by at least $20.
Why is there an auction?
Per state law, electric companies are required to buy at market rate the energy they need to serve customers, who do not switch to a third-party supplier.
The companies submit proposals on how they will buy electricity through the auction. Unlike the online marketplace eBay, the prices at the auction start high and decrease with each bid until suppliers are no longer willing to offer a lower bid at which they can provide adequate service.
The cost decided at auction is sent directly to ratepayers.
Who is PJM Interconnection and how much of a factor are they?
PJM Interconnection is a regional transmission organization, or RTO, that coordinates the movement of electricity in 13 states and the District of Columbia. They are also charged with maintaining the electrical grid.
The grid operator held a capacity auction last July that saw record totals, which BPU President Christine Guhl-Sadovy said was the main driver behind the auction results.
“[The] results are the culmination of several issues: rapidly increasing demand for electricity, coupled with limited supply growth due to lagging new generation interconnection, and flawed market dynamics in the PJM region,” she said.
New Jersey
Heavy police presence prompts concern in South Jersey neighborhood
MILLVILLE, N.J. (WPVI) — Residents in a Millville, New Jersey, neighborhood spent hours trying to understand what was happening after a New Jersey State Police helicopter circled overhead, and troopers eventually entered a home while searching for a suspect.
Video from a Ring camera shows state police and officers in tactical gear taking over the front porch of a home on the 100 block of Third Street.
Officers are heard speaking into a doorbell camera moments before entering the residence.
A woman who lives in the home and did not want to be identified said she was at work at the time of the incident, but her son was inside when police surrounded the house. She said her son later described the encounter to her.
“My son was here, he was a little freaking out, they actually made him come out with his hands up and guns were drawn,” she said.
The woman said her son told her troopers explained they were pursuing someone on foot in the area.
“They just said they were on a foot pursuit and the guy was jumping the fences behind my house. A construction worker saw him go down my steps, but didn’t know where he went from there. That’s why they need to make sure everything is safe,” she said.
Nearby residents also noticed the heavy police activity.
Michele Brown of Bridgeton said she was walking her dogs when she saw officers in the area.
“It was a lot I didn’t understand what was going on,” Brown said.
Brown said the scene was alarming for people nearby.
“Definitely startling cause you see all these cops with their guns out, and you’re just looking like, ‘Whoa’,” she said.
Action News reached out to New Jersey State Police for more information, but we did not receive a response.
In a statement, Millville police say the suspect was not apprehended after fleeing state police on foot.
There is no suspected threat to the community, the department added.
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New Jersey
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New Jersey
The first of Paramus’ three big mall makeovers is nearly complete
Russo Development CEO talks finishing Paramus NJ projects
Edward Russo, CEO of Russo Development, speaks to NorthJersey.com about their newest projects and opportunities for developers in Paramus.
One of three massive redevelopment projects at Paramus’ biggest shopping malls will finish construction this summer. Another will have to wait until 2027.
The two projects will bring hundreds of apartments and thousands of feet of additional retail space to Bergen Town Center and Paramus Park Mall, two of Bergen County’s biggest retail destinations. Both projects are the work of Carlstadt-based Russo Development LLC, which is also building a new headquarters in the borough.
The biggest mall redevelopment in town — a multiyear plan that could bring as many as 1,400 homes to Westfield Garden State Plaza — is also underway under the direction of a different developer. That project is expected to hold an official groundbreaking in the coming weeks.
The construction is “an opportunity for affordable housing to get built, which is certainly a big priority for almost every municipality in New Jersey right now,” Russo Development CEO Ed Russo said in a recent interview. He credited borough officials for making sure “there was additional investment and vibrance that was being added” to Paramus’ commercial center.
Paramus Park housing almost done
First in line for completion is Vermella Paramus, two mixed-use buildings with 360 one-, two- and three- bedroom apartments under construction next to the Paramus Park Mall, west of the Garden State Parkway.
The project will also have 8,000 square feet of onsite retail space. It will be built adjacent to the mall and the new Valley Hospital, according to a description on the company’s website.
One of the buildings will be finished next month, while the second is scheduled to finish construction in June, Russo said last week.
Bergen Town Center project has new name, timeline
The developer, alongside KRE Group, also plans to build two five-story buildings with 426 units and 5,000 square feet of retail at Bergen Town Center, off of Route 4. The project will be called Bergen Chapters, Russo said.
The housing will include 147 one-bedroom apartments to be sold at market rate and another 12 reserved as affordable. The project will also have 1,572 parking spaces, including lots from other areas of the mall property and two parking garages.
A building on the east side of the Bergen Town Center property that currently contains a former Kirkland’s, Red Robin and Recreational Equipment Inc will be knocked down for the project. Recreational Equipment Inc. closed in late January, so the property has only become vacant in the last month, said Russo. He expects the work to finish in late 2027.
Story continues after gallery.
Living at the mall
Paramus’ three big projects fueled speculation that other shopping centers in North Jersey would follow the example, as mall owners looked for ways to survive the rise of online retail.
But there hasn’t been a tremendous amount of mall redevelopment in New Jersey, Russo said.
Paramus’ situation is unique, he noted, with “three good size malls” all within the same town. Spurred in part by state affordable housing mandates, the borough council adopted zoning in 2016 that allowed for mixed-use development along its highway corridor. That was the impetus for the three mall makeovers, Russo said.
Other factors also made the borough’s commercial corridor especially suited for this type of hybrid development, he added.
“Paramus has always been considered, for many decades, as a shopping mecca between the malls, Route 17, Route 4 and the proximity to New York City,” said Russo. “It’s really been a vibrant retail community for many years.”
In addition to fulfilling affordable housing obligations, the zoning helped the borough attract new investment around the malls, boosting their long-term success, he added.
“The retail market has been affected in a larger part of New Jersey over the last number of years,” said Russo. “I think Paramus was very forward-thinking in the zoning that they did years ago.”
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