The New Jersey Business & Industry Association released the following statement from Vice President of Government Affairs Ray Cantor on New Jersey’s Energy Master Plan and Executive Order 100, announced today by Gov. Phil Murphy.
“While the ambitious goals set forth in today’s announcement are laudable, we remain very concerned by the overall cost impacts to ratepayers and businesses in the execution of this plan – particularly as there has yet to be a ratepayer impact study.
“Additionally, we question the feasibility and reliability of a rushed abandonment of the use of natural gas, an energy source that heats more than 75% of New Jersey’s homes and businesses, and generates more than 50% of our electricity.
“Limiting access to the least expensive and most reliable and abundant source of energy we have will add to New Jersey’s affordability crisis and dramatically increase costs for our already overburdened residents and job creators.
“We also have great concerns that the Executive Order announced today as part of the EMP will have a direct, negative impact on manufacturing and industry in the state – without any significant carbon reductions.
“New Jersey deserves a clean energy future that can work for everyone, with a more practical approach and with a recognition that no resiliency strategy can exist without a strong economy. We look forward to the opportunity to participate in the stakeholder process for the EO and the EMP.”