|02/08: The New Jersey Board of Public Utilities approved the results of the state's seventh annual electricity auctions for Basic Generation Service. This year, the value of the fixed price auction was approximately $7.0 billion over three years. The prices obtained in this year’s fixed price auction are higher than those obtained last year, primarily because of increased fuel and capacity costs for the upcoming three-year supply period that were factored into the bidders’ prices. The electricity supplies auctioned this year will replace supplies auctioned in 2005, which were priced significantly lower. The combination of these two factors will result in an increase in overall electric bills, ranging from 10.5 % for a typical residential or small business customer in JCP&L’s service area to 17.3 % for one in Rockland Electric’s service area. The new rates are effective for service rendered on and after June 1, 2008. Source: New Jersey Board of Public Utilities http://www.bpu.state.nj.us/bpu/
02/06: The outcome of New Jersey’s 5th Electric Auction for basic generation service resulted in prices that were more than fifty percent higher than last year’s auction at this time. The contracts secured through this auction process would service about one third of the power supply for utilities who participate in the basic generation service.
9/05: The New Jersey Clean Energy Program has a variety of incentives to integrate energy efficient and renewable energy technologies. Visit the Commercial and Industrial section of the site.
The New Jersey SmartStart Buildings program has incentives offered by the PUC and the utilities for improving or renovating buildings or updating equipment. The Combined Heat and Power program provides incentives for CHP installations. The Clean Energy Program has low interest loans and grants, as well as rebates based on energy generated.
2/05: The state Board of Public Utilities (BPU) has expanded the rules around net metering for residential and small commercial customers. Small commercial customers are defined as "non-residential electrical customer with less than 10 MW of peak demand". The customer-generator's generating capacity must not exceed 2MW and also must not exceed the customer's peak electric needs. Any excess generation that goes back to the Electric Distribution Company shall be credited against the next month and any carried over credit will be paid back on an annual basis at the EDC's avoided wholesale cost. The rules titled "Net Metering and Interconnection Standards for Class I Renewable Energy Systems N.J.A.C. 14:4-9" (PDF 58 KB, 18 pp) were adopted in October 2004. Net metering is now allowed over all Class 1 systems, not just wind and solar.
2/04: The state Board of Public Utilities (BPU) voted in favor of a rate increase for Public Service Electric & Gas Company (PSE&G) customers in July 2003. This vote, together with the end of price controls in August 2003 (see What is the Status of Deregulation? below for more detail), caused electric rates to increase by as much as 15 percent for customers of PSE&G. Rather than stabilizing at new, low prices, the market quickly reverted to approximately the same rates available when the deregulation act went into effect in July 1999.
12/00: The NJ Supreme Court upheld a decision upholding the New Jersey Board of Public Utilities restructuring and securitization orders for PSE&G. This decision will allow PSE&G to go forward with its implementing restructuring according to the orders issued by the BPU. Customers will receive an additional 2% rate reduction and securitization bonds will be sold, amounting to $2.5 billion, the proceeds which will retire outstanding debt and/or equity.
7/99: The BPU reached a final settlement agreement with Conectiv. The final plan sets a schedule for rate reductions, determines stranded costs recovery and shopping credits, and sets retail access implementation by November of 1999.
6/99: The BPU reached a settlement agreement with GPU for restructuring. The settlement includes rate reductions, increased shopping credits, and reduced the amount of stranded costs GPU will be allowed to recover.
3/99: New Jersey plans to launch its consumer education for electricity restructuring and retail choice program on 6/1/99.
5/98: BPU announced a 6-month delay in its plan to offer retail competition. Phase-in of retail competition should now begin by April 1999.
4/97: The BPU issued an order adopting and releasing its final report for the Energy Master Plan. The revised plan accelerates the time line for retail competition to begin: phase-in should begin with 10% by 10/98, 35% by 4/99, 50% by 10/99, 75% by 4/00, and all by 7/00.
1/97: The Board of Public Utilities issued an order releasing its Energy Master Plan for public comment. The proposal calls for a phase-in of retail choice that would give all NJ residents and businesses the option of choosing their electricity supplier by 4/01.