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Dive Brief:
New Jersey Gov. Mikie Sherrill, D, signed legislation Tuesday that aims to make electricity more affordable, including a bill that requires state regulatory review of “supplemental” transmission projects.
Another bill that was signed into law requires utilities to be PJM Interconnection members in an effort to strip them of an extra 0.5% return on equity they are awarded for voluntarily joining the grid operator. A third bill aims to insulate existing customers from potential bill increases by creating a new ratepayer class and rate structure for data centers.
The new laws are the latest efforts by states to try to keep consumers’ electric bills as low as possible — a major issue during the governor’s race in New Jersey last year. "I made a commitment to rein in energy costs, and today we are delivering on that commitment," Sherrill said in a press release. "For too long, New Jersey families have paid the price for poor oversight, outdated policies, and rising demand on our electric grid by unchecked actors.”
