Gov. Phil Murphy proposes $430M relief plan to offset rising utility costs

Nearly 4 million N.J. residents could receive at least $100 to offset the $25 monthly increase in utility bills that took effect Jun. 1, according to a cost relief program proposed by Gov. Phil Murphy. Utility market rates are determined at an annual auction based on overall energy costs, which increased by 800% in 2024 in N.J. If approved by the N.J. Board of Public Utilities, Murphy’s program would run from July to December and provide lower and moderate-income households with rebates of at least $250, officials said. The BPU’s next meeting is on Jun. 18. It is not yet clear how or when the benefits would arrive.

From NJ Spotlight News.