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Governor Calls for Formal Investigation Into Regional Energy Cost Crisis

By: MAGNIFYI Staff

Published April 17, 2025

Category: New Jersey
Related Categories: 2024 Base Residual Auction (BRA), FERC

Governor Phil Murphy today urged the federal government to investigate whether market manipulation resulted in higher energy prices that are set to take effect this summer, harming consumers and businesses in New Jersey and the region.

The Governor penned a letter to the Federal Energy Regulatory Commission (FERC) requesting that agency leadership direct the commission’s enforcement unit to launch an investigation of the 2024 Base Residual Auction (BRA) for the 2025/2026 Delivery Year and examine whether market manipulation occurred, and if so, to determine the extent to which that manipulation resulted in higher capacity auction prices and, therefore, led to an increase in energy bills for families and businesses.

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