Sherrill slammed for profiting from utilities while blasting rising energy costs
SOMERVILLE, NJ – Republican gubernatorial nominee Jack Ciattarelli is hammering Democrat Mikie Sherrill over what he calls blatant hypocrisy, accusing her of personally profiting from the same utility companies she blames for driving up New Jersey’s energy costs.
The energy crisis has been good for Sherrill, according to her government finance reports. She has been profiting from the high electricity bills of New Jerseyans as theystruggle to pay theirs.
On the campaign trail, Ciattarelli rolled out a five-point “all-of-the-above” energy plan aimed at cutting — not freezing — utility rates and restoring New Jersey’s energy independence. At the same time, he blasted Sherrill for what he described as “double dealing,” pointing to her growing investments in energy and utility funds.
“Mikie Sherrill has supported Phil Murphy’s failed energy policies and voted for the same disastrous ideas in Congress,” Ciattarelli said. “She talks tough about utilities while making money off them.”
According to government finance reports, Sherrill’s exchange-traded fund (ETF) holdings tied to utility and energy companies surged between 2022 and 2024, climbing by nearly $500,000 — a 34% jump overall. Investments linked specifically to New Jersey utilities, including Public Service Enterprise Group (PSEG) and FirstEnergy, grew by more than $500,000 in the same period, a 70% spike.
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Meanwhile, Sherrill has pushed for policies expanding offshore wind, mandating electric vehicle adoption, and tightening restrictions on natural gas. Ciattarelli said those policies have left New Jersey reliant on out-of-state energy and saddled families, seniors, and small businesses with higher costs.
His energy plan pledges to reopen shuttered power plants, end offshore wind and EV mandates, withdraw New Jersey from the Regional Greenhouse Gas Initiative, and overhaul the Board of Public Utilities. “My plan will lower costs and restore reliability,” Ciattarelli said.
Sherrill has defended her record in Congress, praising the Biden administration’s renewable energy efforts and backing New Jersey’s move to adopt California’s zero-emissions vehicle standards, which phase out new gasoline-powered car sales by 2035.
But Ciattarelli says her proposals to “freeze” rates can’t undo years of rising bills under Democrat leadership in New Jersey and in Washington, D.C.
“Families have already seen increases of more than 20%. Freezing them now just locks in higher prices,” he said.
Key Points
- Jack Ciattarelli unveiled a five-point plan to cut energy costs and restore New Jersey’s energy independence.
- Mikie Sherrill has supported offshore wind, EV mandates, and restrictions on natural gas while serving in Congress.
- Sherrill’s ETF investments in utilities and energy companies surged by nearly $500,000 between 2022 and 2024.
The political heat over New Jersey’s rising energy bills is only getting hotter.