New Jersey’s electricity rates will be stable this year due to price cap

Last year’s spike was driven by an increase in capacity costs on the regional grid, said BPU President Christine Guhl-Sadovy. These costs, determined by auctions held by grid operator PJM Interconnection, reflect payments to power plants and large users to ensure enough power will be available to meet peak demand on the hottest and coldest days in future years.

These costs have shot up recently, largely due to projections of skyrocketing demand from data centers.

Guhl-Sadovy credited Thursday’s relatively stable results to a price cap or “collar” on capacity costs negotiated by Pennsylvania Gov. Josh Shapiro.

“That collar is really what has helped to keep these prices stable, or relatively stable,” she said. “That was a good thing for customers.”

Winning auction prices for all four utilities increased slightly compared to last year’s results, according to the board. But these increases mean different bill impacts for customers of each utility based on different customer profiles and load, board officials said.

The prices customers will pay in June reflect not only electricity supply procured during this month’s auction, but also during auctions held in 2024 and 2025. Each year, results of the auction held three years prior drop out of this equation. Lipman said the 2023 auction, no longer factored into customers’ supply rates starting this June, was held when natural gas prices were higher, driving higher costs to produce electricity.

Guhl-Sadovy declined to offer details about the bill credits mandated by Gov. Sherrill, saying they still need to be approved by the board. Guhl-Sadovy said the board is “working to ensure that we are effectuating the governor’s executive order as quickly as possible.”

New Jersey governor Mikie Sherrill has banned immigration agents from some state property and launched an online portal for residents to share videos and photos of enforcement activity.

Sherrill, a Democrat, signed an executive order on Wednesday which prohibits immigration officers from access to non-public portions of state-owned property if they don’t have a judicial warrant, according to NJ.com. The prohibition also bars immigration agents from using state property as bases for enforcement operations.

“We have seen dozens, even hundreds of videos of Donald Trump’s [Immigration and Customs Enforcement] agents abusing their power, smashing cars, tear gassing families, gunning down American citizens and violating our most basic rights,” Sherrill remarked during a news conference reported by NJ.com.

Amid growing scrutiny of ICE activities, New Jersey officials have stated that the state attorney’s office will review photos and video uploaded to the web portal. “While we cannot guarantee any particular action by our office in response to reports on the portal, we will review every report with care,” acting state attorney general Jennifer Davenport reportedly said.

Sherrill’s initiatives come as Donald Trump has ramped up immigration enforcement, with his administration overwhelmingly targeting Democrat-run states. The US president’s enforcement blitz in Minnesota has spurred ongoing demonstrations over agents’ heavy-handed approach to migrants and protesters; immigration agents have killed two US citizens during the enforcement surge.

Civil rights advocates praised Sherrill’s efforts.

“ICE is out of control, endangering our communities, and must be stopped,” said Amol Sinha, executive director of ACLU New Jersey. “New Jersey cannot be complicit as federal agents terrorize our residents and attack our fundamental constitutional freedoms – the time for action and leadership is now. By using her executive power to hold ICE accountable, Governor Sherrill is doing what every governor across the country should be doing.”

“We applaud Governor Sherrill’s meaningful efforts to combat ICE’s lawlessness and abuse through this executive order and look forward to continue working with her administration to ensure everyone who calls our state home truly feels safe to live the life we all deserve,” Sinha added. “New Jersey must do everything in its power to keep families safe and defend democracy, and that includes immediate passage of legislation protecting our residents from ICE.”