“I am encouraged to see the Board of Public Utilities taking action in response to the concerns we’ve raised about rising electric rates. Over the past several months, Assembly Democrats have worked to highlight how the projected increases could place a heavy burden on families and businesses across the state.

“While the Board’s authority over the auction process is limited to certifying the results as consistent with market conditions, it does have a responsibility to ensure that rates are just and reasonable. Today’s directive requiring utilities to submit proposals to lessen the immediate impact of those rate increases is a step toward meeting that responsibility.

“By requiring utilities to put forward proposals that could defer the expected increases, the Board is creating an opportunity to ease the impact during the summer, when energy use and bills are at their highest.

“We will continue to closely monitor the utilities’ proposals as well as the BPU as we remain laser-focused on controlling the cost of utilities on New Jersey homeowners, renters and businesses now and for the long-term.”

The Assembly Telecommunications and Utilities Committee and the Senate Select Committee will hold its second hearing on energy affordability on Friday, April 25 with the state’s electric utilities.