A state utilities board Wednesday approved a 124-page study estimating how the state’s transition to renewable energy will affect utility rates, but critics and board staff said more research would be needed to ascertain the true cost of the state’s energy master plan.
Whether a resident changes their energy consumption, the costs of electrification, and even the amount of federal aid New Jersey gets from a recent bill signed into law by President Biden will all play a role in determining whether an individual’s energy costs go up or down, officials said Wednesday.
The study, drafted by consulting firm Brattle Group, finds the state’s shift to renewables would cut utility rates for most consumers below 2020 levels, but the study did not examine capital costs associated with a shift to greener energy sources or costs related to…
Questions about cost remain after release of New Jersey clean energy study
