Expect bigger electric bills - while Trenton fiddles!

New Jersey residents will see double-digit increases in their electric bills come this summer.

The increases, ranging from 10.5 percent to 17.3 percent, are based on the results of the annual auction for basic generation service conducted this week by the state Board of Public Utilities.

This from a Newsday article today on Friday's certified results of the energy auction. While we cannot always hold Trenton accountable, it appears that neighboring states are much more active in attempting to hold rates as constant as the market can bear. You can see a listing of state comparative electrical rates in this chart from Energy Information Administration.

The point here is that energy prices are a market commodity. But not completely. Many states protect their citizens from double digit increases like this one. Pennsylvania for example instituted a temporary cap to create a more predictable cost structure which is not popular on many fronts but does help their citizens. It won't last forever for sure but it has helped. With the mortgage situation as it currently is and foreclosures moving higher every month, why hasn't a single New Jersey politician commented on this increase which will frankly put more people on the street.

Oh, that's right. They are too busy increasing school spending, ending the death penalty that they never administered, apologizing for slavery and looking to put windmills on the turnpike (oh, and selling the turnpike and increasing tolls exponentially). Something is seriously wrong here.

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