Sun burn

Did you hear about the latest PSE&G rate increase approved by the BPU on Monday? Probably not. That'sbecause only the

Did you hear about the latest PSE&G rate increase approved by the BPU on Monday? Probably not. That'sbecause only the Ledger reported the story, inside its business section.

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Here's the topline:

  • The state has a policy goal to generate at least 20 percent of its electricity from renewable sources by 2020.
  • Despite double-digit rate hikes on electricity, the BPU approved a solar pilot program that allows PSE&G to loan low-interest money to homeowners and business to add solar to their homes and businesses.

But there'sa catch — PSE&G's 2 million customers will pay a surcharge on their monthly electric bills to cover the utility's cost of running the program and to guarantee it a "return on investment of 9.75 percent."

I guess the state's other newspaper editors aren’t too charged up about NJ’s mega-utility raking in more dough from ratepayers after it just posted a 62 percent jump in earnings. I’m sure it doesn’t matter much to the average readers struggling to pay their mortgage and property taxes?

Shocking.

Sun burn