Christie Administration Budget Grab of Clean Energy Money CriticizedMarch 4, 2012 – In The News
Steven S. Goldenberg, co-chair of the firm’s Energy and Public Utilities practice, recently commented on the criticism that New Jersey and its Board of Public Utilities (BPU) currently faces.
The state of New Jersey recently collected $210 million to balance its budget from a clean energy fund that the BPU had collected from gas and electric ratepayers’ bills. Many critics say the BPU shouldn’t have raised the money in the first place, or should have returned it. According to Goldenberg, “[The clean energy fund] takes the form of a tax as opposed to the basis on which it’s collected, which is a funding source for clean energy programs.” He went on to say, “For large users, you make the impacts of those charges very dramatic. It’s not unusual for the state’s biggest businesses to pay more than $1 million.”