: Getting Bit By Going Green at the Jersey Shore!

Getting Bit By Going Green at the Jersey Shore!

AC Electric logoGoing green could be a double edged sword for Jersey Shore utility customers. Atlantic Electric, the company that serves most of South Jersey and customers in southern Ocean County, wants to raise its rates 3.5%.

The reason it quite surprising!  Utility generation costs are too low!  

Now, you say, wait shouldn't our rates being going down?  Well that would be the case anywhere else but here in New Jersey.  

graphs (sxc)Back in the 1980's, in an effort to encourage independent energy production (that includes the excess generated by residential wind and solar power generation and sold back to the utility), New Jersey government set policies to allow a utility company to recover above market costs on power from independent generators.  This electricity is not sold to AC Electric customers, but it's delivered to the regional market.  

arrows (sxc)That worked well, while utility prices continued to increase.  Now prices on the regional grid system are down, and customers must make up that difference...the difference between what AC Electic pays for the power and what it ultimately sells it for on the regional market.  

The proposal has been submitted to the New Jersey Board of Public Utilities for approval.  The increase would be effective July 1, 2009.

Keller Williams Realty - Atlantic Shore
Laura Giannotta
609-384-6121
Laura@JerseyShoreViews.com
   www.JerseyShoreViews.com    
 
 
 
  

     
Comment balloon 4 commentsLaura Giannotta • May 16 2009 07:14AM

Comments

We are in NJ.... nothing goes down except our wallets and realtor income

Posted by Rosemarie Villanova (Diane Turton, Realtors) over 9 years ago

ToulaRosebrock,com

Hi Laura:

I'm in agreement with Rosemarie here...

Seems like we keeping getting hit hard here in NJ.

Posted by Toula Rosebrock, Broker/Sales Associate, Realtor, Lacey Township, (Diane Turton, Realtors, Forked River, NJ) over 9 years ago

Dear Laura,

Green is good in all forms. Most of my buyers want a green home. Be glad your in NJ instead of Austin. City Council just passed a Energy Audit law where all sellers will have to pay for another inspection on the energy efficiency of the home. This should be a fine can of worms for Sellers and Realtors come June 1st. Good luck!

Betina

Posted by Betina Foreman, Realtor, C.N.E., with WJK REALTY (WJK Realty) over 9 years ago

I don't live there, but I think I can understand the feelings of those that have already commented here.

Posted by JL Boney, III, Columbia, SC Real Estate (Coldwell Banker) over 9 years ago

Participate