FOR IMMEDIATE RELEASE

Monmouth Counties’ newest Assemblywomen are among several legislators to publicly address the financial implications of the state’s Energy Master Plan and the recently released Ratepayer Impact Study results.

The Ratepayer Impact Study was a comprehensive, yearlong review conducted by The Brattle Group studying the impact of the state’s Energy Master Plan through 2030. Earlier this month, the New Jersey Board of Public Utilities, tasked with the Energy Master Plan development and oversight, accepted the group’s findings.

Results determined that residents who adopt clean energy technology may pay a lower energy bill. However, it will cost more monthly for residents who do not opt-into electrification. Meanwhile, the study notably does not include capital costs associated with replacing appliances, heaters, boilers, and the like, surely costing consumers tens of thousands of dollars.

“By hiding upfront installation costs from the public, yet again Governor Murphy is happy to pass the buck off to the taxpayer,” said Piperno. “Without considering the financial consequences, we cannot continue implementing flashy, feel-good solutions. Instead, we must focus on securing dependable, affordable energy solutions for our residents.”

In 2020, Governor Murphy introduced The State’s Energy Master Plan, outlining key strategies to reach the Administration’s goal of 100 percent transition to wind and solar energy in New Jersey by 2050. However, concerns have been raised about the reliability of clean alternative energy and the costs related to its adoption.

“Regulations that mandate the use of electric heating systems or electric water heating systems are expensive and unfair for everyone involved, and it’s disingenuous for the state to hide this information from business owners and the public in the name of environmentalism,” said Eulner.

Subsequent studies of the Energy Master Plan have projected it would cost the state of New Jersey $525 billion or an estimated $56,450 for each state resident. Added Eulner, “To that end, we have signed on to cosponsor A3935 ensuring transparency surrounding the cost of clean energy technology adoption.”

Assembly Bill 3935 would prohibit the adoption of any regulations mandating the use of electric heating systems until the Department of Community Affairs issues a report on the costs and benefits of electric heating.