With New Jersey electric utility prices set to increase by 20 percent this summer, a report by financial services company, Rabobank, a premier global food and agribusiness bank and a leading financier of energy transition, notes the average cost of a summer barbeque will increase by 4.21 percent.
The Rabobank index predicts the average price of a summer barbeque for 10 people. The report is typically released prior to the July 4 holiday but was moved up to Memorial Day this year.
“An increase of slightly more than 4 percent might not seem too hard to absorb, but combine that with a 20 percent increase for the cost of electricity and inflation and the summer forecast looks grim for the average consumer,” said Ron Morano, Affordable Energy for New Jersey (AENJ) Executive Director. “Based on the higher costs, grills might not be the only things that get hot this summer. While summer barbeques are outdoor events, let’s not overlook the comfort residents seek from air-conditioned residences powered by electricity.
“The ongoing failure by New Jersey elected officials and regulators to enact a realistic and affordable Energy Master Pplan (EMP) and mitigate energy price increases is responsible for the significant shift. New Jersey residents deserve better.”
AENJ is a broad grassroots coalition that advocates for actionable, fact-driven energy policy that emphasizes keeping costs low for New Jersey residents and businesses and evaluates energy policies and proposals based on feasibility, reliability and cost.
