NEW BRUNSWICK, NJ—Chris Widelo, State Director at AARP New Jersey, issued the following statement following Governor Mikie Sherrill's signing of A4881/S4296, legislation establishing a process for the Board of Public Utilities to evaluate proposals for building a new nuclear power plant in New Jersey, including the use of ratepayer-backed financing:

"As we experience rising temperatures, more frequent heat waves, and growing energy demands, we recognize the importance of ensuring New Jerseyans have reliable electricity to keep their homes safe and comfortable. But meeting tomorrow's energy needs cannot come at the expense of reliability and affordability for today's ratepayers.

"Older New Jerseyans are already struggling with rising utility costs. Recent AARP NJ polling found that 89 percent of older adults are concerned their electricity bills will increase over the next year. For many of our neighbors, even modest increases in monthly utility bills can mean difficult choices between paying for electricity, groceries, medications, or other essentials.

"While this legislation establishes a process for evaluating potential new nuclear generation, it also leaves unanswered the most important question for consumers: what will it cost? The legislation authorizes a process that would place ratepayers on the hook for costs extending up to 40 years, yet there is still no clear estimate of what those costs could be or sufficient guardrails to ensure consumers will ultimately come out ahead.

"As this process moves to the Board of Public Utilities, we must ensure that any proposal represents the best possible investment for ratepayers and that no project should move forward unless it provides a clear benefit for NJ consumers. If a proposal is not demonstrably the best deal for NJ ratepayers, it should not be approved.

"The Governor and Legislature have given the Board of Public Utilities a tremendous responsibility to ensure any proposal includes rigorous cost analysis, meaningful consumer protections, independent review, and a transparent public process. Older New Jerseyans—and all ratepayers—deserve confidence that affordability remains the guiding principle throughout this review.

"We look forward to working with Governor Sherrill, the Legislature, and the Board of Public Utilities to ensure that protecting consumers, particularly older adults living on fixed incomes, remains at the center of New Jersey's energy future."

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About AARP New Jersey
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose  how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most  to the more than 100 million Americans 50-plus and their families: health and financial security, and personal fulfillment.  AARP also produces the nation's largest-circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.