The resolution expresses a lack of confidence in the New Jersey Board of Public Utilities (BPU), which is responsible for regulating energy services in the state. It highlights that New Jersey has shifted from being a net exporter to a net importer of electricity under the current administration's energy policies, resulting in residential electricity prices that are nearly 20 percent higher than the national average. The resolution points out that the BPU's certification of the Basic Generation Service auction will lead to significant increases in electric bills, exacerbating affordability issues for residents.
Furthermore, the resolution criticizes the BPU for prioritizing green energy initiatives over the immediate needs of ratepayers, as indicated by statements from BPU commissioners suggesting that dissenting opinions are often marginalized. The General Assembly concludes that the BPU has failed to effectively manage energy policy and ensure affordable rates for New Jerseyans, prompting the expression of no confidence in the board's ability to address rising energy costs. Copies of the resolution will be sent to relevant state officials, including the Governor and BPU leadership.