New Jersey needs more generating power and that energy should predominantly be from green sources.
New Jersey also needs a massive program of conservation and optimization that is significantly cheaper than building new electric generation capacity.
What New Jersey does not need is another independent authority borrowing at will and prone to corruption, waste, and political patronage. Since New Jersey does not have a department of energy, the BPU, which is already a large government agency, can be upgraded to department level by legislative action (if necessary) and assume the task of expanding the generating capacity in the state and overall implementing a cohesive energy policy.
No more duplication of government agencies. We have enough of them.
The BPU report points out: “The Capacity Market is unlikely ever to approach the economist’s view of a competitive market structure in the absence of a substantial and unlikely structural change that results in much more diversity of ownership.”
If that is the case, if there is a quasi monopoly of generation and distribution of electricity, should we regulate the energy industry in New Jersey?