Last night, the Senate and Assembly budget committees approved more than $500 million in raids from the Global Warming Solutions Fund, funded by Regional Greenhouse Gas Initiative (RGGI), to be used for ratepayer relief.
For more on RGGI and the state’s history of raiding funds for ratepayer relief, see New Jersey’s Clean Energy Funds: What They Are and Why They Matter.
In response, NJPP issues the following statement:
Alex Ambrose, Senior Policy Analyst, NJPP:
“Diverting money out of the clean energy funds to pay for short-term solutions won’t do anything for long-term affordability. RGGI must be used for what it’s meant to be used for: solutions like energy efficiency and energy storage, which will bring down costs for everyone. New Jersey has raided these funds before and, every time it does, it delays the investments that would actually make energy affordable in the long term.”
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