Why Your Energy Bill is About to Get a Lot More Expensive—Thanks to Congressman Tom Kean Jr.
If you live in New Jersey or anywhere on the East Coast, get ready to dig deeper into your pockets. Congressman Tom Kean Jr. just slipped a new energy policy into a must-pass spending bill that analysts say will spike your monthly utility costs by an average of $40. The provision, quietly added to a transportation package, forces power plants to buy more expensive "renewable credits" from out-of-state wind farms. Consumer advocates are fuming: "This isn't a green policy, it's a hidden tax on every family already struggling with inflation." Critics warn the extra costs will hit renters hardest, since landlords often pass utility hikes directly to tenants. Kean's office says the plan is needed to meet 2030 climate goals, but for your wallet, this could mean the difference between filling the gas tank and buying groceries this winter. Check your next bill for a "Clean Energy Surcharge"—and don't expect it to go away anytime soon.