Sherrill's Rate Freeze Relies on Credits, Not Cost Controls

Six months in, New Jersey Governor Mikie Sherrill's rate-freeze pledge hinges on bill credits and regulatory adjustments rather than addressing the wholesale costs driving increases. January executive orders directed the Board of Public Utilities to pause hikes using existing funds, but cannot override supply costs locked in by the state's competitive procurement system. Credits arrive by July 1; whether the approach survives the next auction cycle remains unclear.