TRENTON, N.J. — Senator Latham Tiver and Assemblyman Michael Torrissi Jr., both Republicans from New Jersey’s 8th Legislative District, called Thursday for a full audit of the state’s Societal Benefit Charge (SBC), citing years of alleged misuse and fund diversion.
The SBC, which adds a 3-percent surcharge to all electric bills in the state, was originally intended to support energy efficiency, clean energy programs, and utility assistance for vulnerable populations.
Tiver and Torrissi argue the fund has been transformed into a “slush fund” that lacks transparency and accountability.
“Electric prices are spiraling out of control, and New Jersey is charging each ratepayer a three-percent tax that goes into a slush fund, and no one knows what happens to it after that,” Tiver said. He urged that any funds not used for their original purpose should be returned to ratepayers.
Tiver cited reports showing that since 2010, over $2 billion has been diverted from the SBC to unrelated state programs. A significant portion of that money, he said, has been used to support NJ Transit—expenditures outside the fund’s intended scope.
Assemblyman Torrissi criticized the broader energy policies of the state, linking the SBC with what he described as wider affordability issues caused by the state’s energy mandates. He emphasized the need for targeted relief without compromising assistance to seniors and low-income households.
“We don’t want to take away from important programs that fund energy assistance to seniors and low-income households,” Torrissi said, “so let’s get a full accounting of where these billions of dollars are going and cut this slush fund down to its intended purpose.”
Tiver and Torrissi are pushing for the return of misspent funds and propose a reduction in ratepayer bills by eliminating unnecessary spending within the SBC.
Key Points
- New Jersey lawmakers call for audit of the 3-percent Societal Benefit Charge on electric bills.
- Tiver and Torrissi allege over $2 billion in diversions from the fund to unrelated state projects.
- Legislators seek to return unused funds to ratepayers and restore the SBC to its original purpose.
