On this past weekend’s “Minding Your Business” on News 12+, the show presented highlights from NJBIA’s Energy and Environmental Policy Conference, where PSEG CEO Ralph LaRossa sat down with NJBIA CEO Michele Siekerka to discuss energy opportunities and challenges in the state of New Jersey.
LaRossa stressed the need for an integrated resource plan to build additional energy generation to meet demand and bring down costs.
“We haven’t built a new power plant here since we did back in Sayreville over 10 years ago. So, what has happened? We’ve put a lot of extension cords into Pennsylvania and so any of the extra load that we are now servicing is coming from Pennsylvania,” LaRossa said.
“It’s a simple supply/demand equation and there’s not a market signal that’s telling the generators to come in and build and that’s not just here they’re not building in Pennsylvania, they’re not building in a bunch of different places to the level that the demand is coming up to so it’s a challenge for us and it isn’t going away any time soon.
“We need to start with a plan and we need to start now,” LaRossa said.
NJBIA’s “Minding Your Business” is a weekly TV show and the winner of seven Telly Awards over the past three years, including a gold 2024 Telly in the Interview & Talk Show category.
