Senate Republican Leader Anthony M. Bucco has voiced concerns over the latest PJM Interconnection Base Residual Auction results, which show continued high energy costs for ratepayers. According to Bucco, this marks the second consecutive year without relief in energy expenses, highlighting issues with affordability and reliability in the energy markets.
“Today’s PJM auction results confirm what we’ve been warning about for years: Trenton Democrats’ failed energy agenda is directly driving up costs and putting the stability of our grid at risk,” said Sen. Bucco. He criticized the current energy strategy as catering to political interests rather than focusing on a balanced and reliable approach. As a result, he noted that ratepayers will not see any cost relief for the 2026-2027 delivery year.
Recent reports suggest that the situation could have been worse if not for delaying the closure of older power plants, which are now essential due to their reliability.
“Democrats’ incessant desire to deprioritize natural gas and force 100% electrification is actively harming New Jersey families and businesses who are already stretched thin by rising energy bills. Energy policy shouldn’t be driven by ideology. It should be driven by facts, reliability, and what’s best for New Jersey families and businesses,” Bucco concluded.
In response to these challenges, Senate Republicans have pushed for measures aimed at reducing energy costs:
– Sen. Bucco introduced the “Energy Security and Affordability Act” to protect consumers from high bills.
– Sens. Tiver and Pennacchio proposed legislation S-4398 to temporarily suspend certain taxes on electric bills.
– Sen. Amato advocated returning an energy sales tax windfall to New Jersey ratepayers.
– Sen. Bucco also criticized a recent announcement by the Governor as insufficient.
