Two legislative committees on Wednesday unanimously approved a controversial bill that could raise New Jerseyans’ utility bills $41 a year to subsidize the state’s largest energy company.
Public Service Electric & Gas officials say the $320 million subsidy would stave off the premature closure of nuclear plants in Salem County, which will be in the red within two years……..
Stefanie Brand, director of the state’s Division of Rate Counsel that represents utility consumers, said Wednesday that the utility company has not demonstrated are hurting financially “other than bald assertions and ultimatums issued by the company.”
“The Legislature has a duty to to its constituents to test those assertions and not simply succumb to the company’s threats,” she said, adding that the review of its financials described in the legislation falls short of what is required for a thorough analysis.
Opponents urged the Legislature not to rush through a subsidy during lame duck for a potential emergency that’s still two years off…….http://www.nj.com/politics/index.ssf/2017/12/lawmakers_back_rate_hike_to_rescue_pseg_nuclear_pl.html
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