Governor Christine Todd Whitman signed an energy deregulationbill Tuesday, clearing the way for statewide electric unbundling tooccur by Aug. 1, 1999 and statewide, residential gas unbundling byDec. 31. The bill was passed by the state’s legislature late lastmonth. The New Jersey Board of Public Utilities (BPU) is now incharge of formulating and implementing the deregulation program.

“The fact is: consumer choice equals customer savings,” saidGov. Whitman. “Lower energy costs will help make life in New Jerseymore affordable. Hospitals, for example will save millions in loweroperating costs.At the same time, lower energy rates will alsoencourage companies to relocate to our state and create new jobs.”

The signing of this bill marks the end of a long process. (See Daily GPI, Jan. 29) Although the bill setsa rigorous timeline for deregulation, it also leaves many undecidedissues open for the BPU, including: measures to protect and educatecustomers; air emission guidelines; codes of conduct for utilityaffiliates; and metering and billing matters. The BPU is takingsuggestions concerning deregulation issues from all interestedparties.

The bill also includes the requirement of a shopping credit.Like the other issues, the BPU is in charge of defining its value.This credit, which will appear as a reduction on switchingcustomers’ bills, is the first to be included in deregulationlegislation, and is intended to jump-start the process. “Movingforward, we feel very strongly that establishing a reasonableshopping credit will be the foundation for achieving a competitiveenvironment and maximum savings for residents and businesses,” saidMyles Meehan, an Exelon Energy spokesman. Exelon is one of fourmain utilities in the state.

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