Report Issued This Week Fails to Consider Many of the Costliest Factors in Murphy’s Folly
The latest ratepayer impact study of Governor Murphy’s Energy Master Plan inexplicably ignores many of the most costly mandates, said Senator Steven Oroho today, as he blamed the Murphy Administration for continuing to obscure the true fiscal impact.
The latest ratepayer impact study of Gov. Murphy’s Energy Master Plan inexplicably ignores many of the most costly mandates, said Sen. Steven Oroho, as he blamed the Murphy Administration for continuing to obscure the true fiscal impact. (SenateNJ.com)
“It is untenable, but Murphy’s ridiculously expensive Energy Master Plan (EMP) goes into effect in about four months, and New Jersey residents still cannot get a straight answer about how much it is going to cost them,” said Oroho (R-24). “The study released Wednesday omits many of the most noteworthy cost-drivers and shamelessly sugar-coats the price tag of the Governor’s green energy fantasy.
“The emphasis on offshore wind generation, massive utility scale solar installations, and behind-the-scenes costs of converting homes and businesses from natural gas to electric demands enormous public and private investment and simply cannot be glossed over, yet the Brattle study does just that,” the Senator continued.
Oroho noted that the study, commissioned by the Board of Public Utilities, touted EMP’s unsubstantiated energy savings projections, but failed to emphasize the expenses associated with the conversion to electric vehicles, including residential, commercial, and governmental infrastructure investment.
“The study simply cherry-picks items to artificially present the plan in the best light,” said Oroho. “But reality is going to paint a far different picture in the future, and the residents of our state, already one of the most expensive places to live in the nation, are going to be feeling the painful impact of it for decades to come.
“Families and businesses will be forced to foot the bill to rip out and replace perfectly functional and energy efficient heating units to convert to electric. In whose world does it make sense to spend as much as $40,000 or more to scrap operating boilers and furnaces?” asked the Senator.
An over-reliance on electricity before the supply chain was capable of handling it has contributed to the current energy crisis in Europe, Oroho cautioned.
“There is a real danger in moving too fast. In Germany and the United Kingdom, electric rates are soaring and there are serious concerns about whether they will be able to meet the growing demand for electricity this winter,” Oroho said. “This should be a warning for the Governor. Pump the breaks and slow down.
“Murphy’s whole energy initiative is suspect. The numbers don’t add up, and the timing, in the middle of an inflation-driven recession and on the heels of an economy-devastating pandemic, doesn’t make sense,” Oroho concluded.