How Will NJ Natural Gas Rate Hikes Affect Clean Energy?

NEW JERSEY — While New Jersey is committed to having a 100 percent clean energy economy by 2050, consumers are currently paying for subsidies on their bills each month for things like building up solar and transitioning transportation to electric. But with gas bills set to increase by as much as 25 percent while consumers are already paying more for pretty much everything, what will happen with these subsidies?The cost of all the subsidies adds up to more than a billion dollars, according to NJ Spotlight News. Low natural gas prices have kept bills low, but the upcoming increase along with the potential for added subsidies as NJ furthers its clean energy goal means that things could change. “That was all well and good while commodity prices were going down. Now commodity prices are going up,” New Jersey Division of Rate Counsel Director Brian Lipman told the outlet. “You are going…

Read more…