TRENTON, N.J. – Gov. Phil Murphy’s energy master plan announced Monday will only make New Jersey more expensive by greatly increasing energy bills, says Assemblyman Ned Thomson. He is concerned that the plan will increase the exodus of businesses and taxpayers fleeing the state to more affordable places.
“Completely eliminating natural gas is irresponsible and will dramatically increase energy costs at a time when so many of our residents are struggling to keep up with higher taxes and an exorbitant cost of living,” said Thomson (R-Monmouth). “Reducing our reliance on fossil fuels is a noble goal, but the ambition of the plan is more than our residents can afford.”
Energy bills for ratepayers have increased by over a billion dollars in the past two years. The energy master plan will likely require large subsidies and private investment by individuals and business owners who will need to purchase new appliances, which could cost thousands of dollars.
“The financial consequences of this plan will force even more people to move out of state,” said Thomson. “I work with many companies as a pension actuary that are leaving the state or considering leaving because of our onerous taxes and abysmal business climate. Utility bills will become another problem after years of lower costs thanks to natural gas, which also reduced on carbon footprint.”
New Jersey’s energy costs have increased since Murphy took office due to surcharges on bills to subsidize nuclear power and the implementation of solar and wind energy generators. Those forms of alternative energy are considered costly and inefficient, as only about five percent of state energy comes from those sources.