Assemblymen John Amodeo and Vince Polistina today announced their co-sponsorship of a bill that would repeal New Jersey’s “cap and trade” law to prevent electric and gas utility companies from passing
along higher energy costs to consumers.
“Families are struggling enough to make ends meet without getting whacked by unexpected rate increases from their utility companies,” Amodeo said. “The law hurts families more than it helps them. It needs to go.”
The law, enacted during the lame duck session in 2008,
authorized New Jersey’s participation in the Regional Greenhouse Gas Initiative (RGGI). Under the RGGI program, energy costs increase as utility companies purchase or “trade” via auction credits to emit
greenhouse gases. Moreover, the current law allows utility companies to directly pass along any costs they incur in implementing new energy programs to consumers, regardless of how much energy consumers actually use.
“This law penalizes people even if they turn down their thermostats to conserve energy. If the goal is to reduce greenhouse gas emissions, isn’t that what we want?” Polistina said. “The bottom line is RGGI is
just another government sponsored shell game that robs middle class families.”
Amodeo and Polistina are co-sponsoring A-3147 which would repeal the “Global Warming Response Act” and related sections of Regional Greenhouse Gas Initiative implementing law.
“We need to apply a little common sense to our state’s
energy policy,” Amodeo said. “I know we can create a green energy policy without pricing people out of the state.”
“Let’s wipe the slate the clean and at least begin the
discussion with how to make life a little less burdensome for New Jersey’s families,” Polistina said.