TRENTON, N.J. — Gov. Mikie Sherrill is touting what she says are more than $1 billion in savings for New Jersey utility customers during her first six months in office, pointing to executive orders, legislation and expanded energy generation aimed at slowing the growth of electricity costs.
Speaking about her administration’s energy agenda, Sherrill said she declared a state of emergency over utility costs during her inaugural address and immediately moved to halt pending rate increases.
“So when I got into office, I declared a state of emergency on utility costs in the middle of my inaugural address,” Sherrill said. “I stopped it and froze rate hikes with executive orders. We’ve continued to expand power generation. So we have about 18 new solar and battery storage projects.”
Governor cites independent report
Sherrill also highlighted legislation signed this week that she said would hold data centers, utility companies and grid operators more accountable while reducing future costs for consumers.
“And we’ve just had a report, an independent report put out that said that all of these measures already, just in the first six months, will save New Jersey ratepayers about $1 billion,” Sherrill said.
The administration has pointed to policy changes that include expanding power generation, modifying how certain energy costs are allocated and eliminating some utility incentives as part of its strategy to reduce long-term pressure on electric bills.
Most changes affect future costs
While Sherrill has promoted the projected savings, the administration has not announced a reduction in base electric rates, and many of the measures are designed to slow future increases rather than lower current monthly bills.
Her Day One executive orders directed the New Jersey Board of Public Utilities to pause certain approved rate increases, leaving existing rates in place instead of reducing them. Energy experts have noted that customers are unlikely to see significant immediate reductions in their monthly bills from those actions alone.
In fact, the exact opposite is true; New Jersey ratepayers were just hit with another energy rate increase.
Electricity rates in New Jersey are largely stabilizing in 2026 after a massive spike last year. However, because rates reset to historically high baselines, overall utility bills remain elevated. Prices to compare range from 16¢ to 30¢ per kWh depending on your specific utility and usage.
2026 Basic Generation Service (BGS) Auction Results
The New Jersey Board of Public Utilities (NJBPU) certified supply rates that took effect on June 1, 2026, which feature modest single-digit adjustments compared to 2025:
- Jersey Central Power & Light (JCP&L): Increased by approximately 1.6% (New supply price to compare: 16.48 cents/kWh).
- Public Service Electric & Gas (PSE&G): Decreased slightly by about 1.8%.
- Atlantic City Electric (ACE): Rose by a fractional 0.11%
The administration has also announced a universal $25 utility bill credit for ratepayers, with credits of up to $150 available for qualifying low- and moderate-income households. The assistance is a one-time credit rather than a permanent reduction in electricity rates.
The universal credit is smaller than the $100 credit provided during a previous statewide assistance program in 2025, although the two programs were enacted under different circumstances and funding mechanisms.
Sherrill’s office has maintained that its broader energy strategy is intended to improve grid reliability, expand electricity generation, and reduce long-term costs as demand continues to rise.
