Number of the Day: $1.4 billion

December 8, 2011 | Number of The Day

The state’s new Energy Master Plan says New Jerseyans pay a $1.4 billion premium over neighboring New Yorkers and Pennsylvanians for electricity, due to congestion on the grid. PJM, the operator of the regional power grid, imposes a surcharge on all electricity transmitted from outside of New Jersey. The premium is supposed to incent power providers to build new plants inside the Garden State’s borders, but this hasn’t happened and the surcharge is simply passed on to ratepayers.