New Jersey Governor Orders State To Accelerate Solar, Storage And Virtual Power Plants [zero hedge]
FirstEnergy Corp. (FE)
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Source: zero hedge
New Jersey Governor Orders State To Accelerate Solar, Storage And Virtual Power Plants By Robert Walton of Utility Dive On her first day in office Tuesday, New Jersey Democratic Gov. Mikie Sherrill signed executive orders seeking to freeze electricity cost increases, issue ratepayer relief in the form of bill credits, and increase distributed energy resources, including utility-scale solar and battery storage. One order directed the state’s Board of Public Utilities to ensure bill credits by July 1 and to “consider pursuing a pause, abeyance, or modification of the schedule governing any proceedings in which electric distribution utilities seek approvals for rate increases or cost recoveries.” It also ordered the board to publish a study within 180 days of how to “modernize” the traditional electric utility business model, including opportunities to make utility revenue models “less dependent on capital spending.” Another order focused on growing the state’s electricity supply and inc
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