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After two years of public hearings, litigation, testimony and negotiations and more than 11,500 letters, phone calls and emails to state decision makers, New Jersey consumers won a precedent-setting, hard-fought victory on September 14th, 2006 when Exelon walked away from its takeover bid to buy-out PSEG. The merger would have raised electric rates in New Jersey by as much as $2.3 billion a year, reduced reliability and quality of service, and risked public safety.

Background

New Jersey's ratepayers shouldn't buy Exelon's deal to create the largest, most powerful energy company in the nation.

Several months of expert testimony and evidentiary hearings proven that if Exelon is allowed to takeover PSEG, the company will have a stranglehold over electricity prices in the region, especially in New Jersey. New Jersey's ratepayers will be forced to pay billions more to keep the lights on.

A coalition of consumer advocates, businesses and unions, a bi-partisan majority of the New Jersey state assembly and leaders in the state senate all agree that this deal is not in New Jersey’s best interest.

Fortunately, Governor Corzine and the New Jersey Board of Public Utilities (BPU) can stop Exelon's takeover from becoming a reality by putting ratepayers first and rejecting Exelon's proposal. More.