On behalf of New Jersey residents, I would like to take this opportunity to express my opposition to Public Service Enterprise Group’s recent bid that past January to sell Jersey-based electric power to New York’s Consolidated Edison. I believe that PSEG’s plan would ultimately cause a rate increase while simultaneously lowering the reliability of service provided to our State.
If one is to factor the rising cost of electricity coupled with the relative scarcity of new sources of energy, PSEG’s proposed plan would actually wind up placing an economic burden on New Jersey ratepayers with no real benefits to be gained as a result. In essence, this plan would allow us to subsidize PSEG’s bottom line and reduce the electric bills of New York residents at a real cost to our pockets and our power grid supply.
As a base rule of thumb, I feel that it would be wrong to allow this plan to go through because positive financial gain for New York should not come at the potential negative expense of New Jersey.
Senator Brian P. Stack
33rd Legislative District