May 15, 2025

Murphy’s Rate Relief Sham Backfires, Adds Interest Charges for Ratepayers

TRENTON, N.J. – Assemblyman Alex Sauickie on Thursday blasted the Murphy administration and the Democrat-led Legislature for what he called a political shell game, saying their attempt to ease summer energy rate hikes will now saddle ratepayers with interest on deferred charges.

In April, the Board of Public Utilities directed New Jersey’s four major electric utilities to submit proposals to lessen the impact of massive summer rate hikes. One of those plans, recently disclosed by utility giant PSE&G, includes a 4.5% interest charge on any delayed payments.

“Families are already getting a gut punch with higher bills, and now the Democrats want them to pay interest on that pain just to hide the damage until after the election,” said Sauickie (R-Ocean). “It’s insult on top of injury.”

Electric rates are scheduled to rise by as much as 20.2% starting June 1. Sauickie says it’s all due to the Murphy administration’s energy policies, which he said have reduced in-state power supply and driven up costs while being rubber-stamped by the Democrat-controlled Legislature.

“Runaway mandates, green energy fantasies and a shrinking in-state power supply are driving these costs,” he continued. “Now Democrats are telling families they’ll delay payment, like it’s a favor, but slapping them with interest. That’s not relief. That’s robbery.”

Sauickie, who introduced a resolution of no confidence in the BPU last week, says the agency is no longer acting in the public’s interest.

“The BPU is playing budget games with your electric bill,” he said. “They’ve been trying to change the narrative, but they’ve lost the plot and the public is left holding the bag. We need real reform, not more gimmicks, not excuses, and certainly not interest charges.”

Sauickie serves on the Assembly Republican Energy Affordability Task Force and has proposed common-sense legislation to eliminate hidden surcharges, repeal the sales tax on energy bills, and expand in-state power generation to deliver long-term relief to New Jersey ratepayers.

Alex Sauickie leading the New Jersey General Assembly in the flag salute, with a U.S. flag in the foreground.

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