image of money and thermostatThis week, NJBIA and a coalition of 16 other business groups wrote to the state Board of Public Utilities that the draft Energy Master Plan, if adopted without changes, could result in a sharp rise in energy costs.

As reported in NJ Spotlight, the letter details that the Murphy administration’s plan to transition New Jersey into 100% clean energy by 2050 “does not address costs or economic impacts beyond minor references to least cost’ solutions.’’

“There’s a real concern out there among the business community,’’ NJBIA Vice President of Government Affairs Ray Cantor told NJ Spotlight. “If the EMP goes in the wrong direction, it could drive up energy costs and jeopardize reliability of our energy systems.’’

The groups, instead, call for an independent economic analysis by an outside organization to be undertaken to understand what the costs and impacts will be.

“Given the importance of energy costs to our economy, we are extremely concerned that the draft EMP does not address costs or economic impacts beyond minor references to least cost’ solutions,’’ the letter said.

To read the letter, click here.

To read the full NJ Spotlight story, click here.