May 7, 2024 — New Jersey State Senator Holly Schepisi has introduced a bill aimed at preventing utility customers from bearing the financial burdens associated with subsidies for future offshore wind projects. The bill, known as S-3078, proposes that the Board of Public Utilities should not collect or pre-collect any Offshore Wind Renewable Energy Certificate surcharge from ratepayers for future offshore wind projects, regardless of the intended recipient of the subsidy.
“High inflation, rising interest rates, and ongoing supply chain issues continue to jeopardize the future of offshore wind. We need to ensure that offshore wind projects are environmentally safe and economically viable, so that we don’t have to subsidize wind farm developers on the backs of New Jersey’s utility customers,” said Schepisi.