New Jersey Electric Rates
Renewable energy electricity was promised to be cheaper than fossil fuel electricity, it is not and residents are beginning to question why (1). Environmentalists and state officials assert fossil fuels, increased used of electricity and grid infrastructure upgrades are the cause of significant electricity rate increases in New Jersey. (2) Yet state officials and environmentalists do not want an investigation into the causes. They want their assertions accepted as fact. (3)
The BPU has not provided any cost estimates on the wind turbines and therefore have no publicly available information on wind turbine costs affecting electric rates. Nor have they provided any solar electricity cost estimates. Therefore, wind and solar may or may not be driving up rates considerably. Who knows?
A cost investigation should be done. All fuel types and associated grid requirements should be identified, quantified and subsidies provided should be included. This includes known energy subsidies.
- Solar subsidies – about $800m per year
- Solar connection costs – unknown
- EV car subsidies – about $50-60m per year
- EV truck subsidies – Unknown
- Storage battery subsidies – unknown
- Wind port subsidies – about $540m
- Wind turbine monopile manufacturing plant – about $250m
- Offshore wind substation in north Jersey to bring wind ashore. About $500m
- Nuclear – $300m per year. This subsidy has been recently transferred to the federal government
A transparent report explanation with the methodology, assumptions and facts must be issued and publicly discussed. Who will perform this study? That is another issue.
References
(1`) https://www.njspotlightnews.org/video/critics-target-bpu-as-residents-see-higher-electric-bills/
(2`) https://climatechangedispatch.com/thanks-to-gov-murphys-green-energy-nightmare-new-jerseyans-electric-bills-have-doubled/
(3) https://www.manhattancontrarian.com/blog/2024-8-31-renewables-are-they-really-cheaper
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